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ST123 - following good news, the share price appears to go down - I assume that some holders are eager to exit and wait for good news to do so. The relevance of share price is that a higher share price gives more corporate options especially whilst we are cash strapped. I agree at some stage good news should really translate into a sustained share price...
Considering restrictions, I found this quite informative. Apart from the M&A diversion, the right focus, some critical progress and recognition that things are going slower than expected. I believe there is finance appetite for Ph2 and that would be a huge win. It is also clear that exploration appetite is still very low so action post Ph2 progress is realistic. I just don’t understand the M&A comments - just don’t believe that Sound is in a position to pursue good deals.
Which site would be best to follow Amryt chat now it is delisted in the U.K.; yahoo?
They are still listed on my HL account whereas Amryt LSE listing is gone. My new Amryt listing appeared as an interim line. Should all be OK. You can’t be robbed of the CVRs I would think
Thanks - for completeness, my shares are held in my SIPP and HL made it extremely easy to transfer them to ADSs. Just log in through the web rather than your app, go to corporate actions for Amryt and click transfer.
Cookie45. There is a little potential hassle with the transfer and some exchange rate implications when selling the shares but other than that I don’t think there is anything to worry about. I just looked up a quote for Amryt ADSs which was $11.20 and that neatly converts to the Aim share price x5 as it should do.
ST - thanks for a reasonable post. A welcome change to your tiresome quarrel with ST and stating that Sounds value is less then zero. I had a look again at SP angel’s 9p valuation. It is all about a judgment of how likely Ph2 is. The point of the Ph1 deal is that it makes a Ph2 deal more likely to happen. The 9p also excludes (rightly so at this stage) exploration upside.
That puts things in a perspective, PS. I am sorry to hear about the extend of your losses and have more understanding of your ceaseless posting. I too got carried away to an exposure way beyind the comfort zone based on a logic that sensible things would happen. A prize is there but it will take time, others who want to grab it and the tax issue that may spoil it all.
Looks like a great deal...
For Chiasma. Just on market cap it looks more like 70/30 then 60/40
Fair enough PS. I think the big deal about Ph1 is that it gives cashflow credibility that makes Ph2 more credible. Ph2 unlocks Tendrara. I have no doubt there is huge value to be had after that, just not for Sound. I believe Graham’s game plan is to make Tendrara real and sell out when he is in a stronger position so he can negotiate a fair share of the value for Sound. To get 3rd party finance for exploration is impossible. That makes deal value for exploration potential very low. Get cash going and the world looks different for Sound.
Indeep on timeframe: here is for hoping and what is possible: FID for microLNG still requires the definitive LNG GSA. There has been ample time to work this but my guess it will take a week or two and I think everything else is ready for signature and FID.
on Phase2 all technical work is complete FEEDs, access, permits. A definitive GSA should be close so I believe that a fully funded version of Sound would have all tenders done and contracts ready to sign and be ready for FID in a month or two.
For Sound things are more complex. I suspect they not only have frustrated investors but also parters and perhaps contractors in the wing. It should really be a bigger company taking this on. I think it will be all about momentum and hope FID will be worked in parallel with a transition. Later this year - otherwise it gets even harder.
Just my guess - RNSs will reveal (or not as the case may be)
some bumps in the road.. Last year when the bond holders did not approve the deal, the share price tumbled from 4p so I was expecting to get back at that level even though there has been more progress in the meantime. For what it's worth i expect some transition points over time:
1 - no bond deal; fire sale - this has been avoided
2 - microLNG FID ; anywhere between 5-10p. This gives credibility to the pipeline development
3 - Horst plant / pipeline project FID 15p+
That would be a good point to sell out to a bigger player along with the exploration acreage as sweetener.
Quite some hurdles to cross to get there but many pieces have already been lined up.