Member Info for GingerHippo

Strangemartian, the way it looks to me, SYME the company has done OK out of the saga.

It's only we as shareholder who lost out from it because of the dilution.

Another point, TFC using WL is a sort of PoC that we can issue a WL product.

First TFC, next a tier 1 bank...

Thanks, analyzer.

So, if they're now paying £14.386M for 81% the implies market value of TFC is currently £17.76M. So that would mean we made profit on the TFC saga and it shouldn't have been impaired.

OK, a lot to read this morning.

My bleary-eyed first pass at 7am was too fast and I misread something crucial. Glad I didn't go on and on about it.

A few thoughts:

1) Someone please correct me if I'm wrong but we never knew how much the original buyout of TFC was worth. We only knew that it was valued at $31M, we don't know that that was the consideration of the SPA. So, we don't actually know if they consider TFC to be more or less valuable now.

2) Both parties still like each other. SYME has not disposed of 100% of TFC but only 81%. SYME sees value in TFC. Equally, TFC are impressed enough with SYME's platform to want to continue using it for at least 3 more years. That is a huge vote of confidence in both entities.

3) We're getting cash for this deal, not shares. o dilution. Remember, there can't be any more dilution until next April earliest per the Venus agreement.

Unbelievable. I can’t believe my eyes……

Yes it is conjecture at this point.

But I would say that given we own 30% of a multibillion dollar project, I think all shareholders will be happy. I don't think that's too much of a stretch.

Worth noting btw, DrRemington, that the comment you quoted was made by the chairman not the CEO...

From the RNS one month ago:

"The Company has also taken another major step forward in relation to the completion of the BANKABLE feasibility studies for the 1.2 GW hybrid power, grid interconnection and storage architecture for the Project.

.......is expected to be completed by Q3 2023 ................ with the signing of a Joint Development Agreement (JDA) with Oracle and a shareholder agreement envisaged as the next potential steps."

The writing is on the wall. People can complain about "worthless" MOUs all they want, but the company has made it very clear where this is going.

Obviously I hope they keep us informed, but my experience is that if companies don't need to tell us they probably won't.

It also might be disruptive to ongoing negotiations, so there might be good reason to not say anything.

Anyway, let's see.

One thing's for sure - we'll definitely hear something by 31 Jan. It's not that long in the great scheme of things.

Thanks for referencing the RNS.

But indicative offers do not have to be announced. Formal offers do, indicative offers do not.

I'm saying this so that people don't start going crazy on Friday when there's no announcement. It doesn't mean no offers have been made, it just means there's no obligation to announce it.

Vizhy, UOG have not as far as I know told the market about this deadline. We found out from third party documents. It's for potential partners only and part of negotiations. It's not a statutory deadline in any way.

There is no requirement to disclose indicative offers, so it's very unlikely that we'll hear anything about it at this stage.

It seems that both Guyana and Jamaica are now on the cusp of rapid economic growth based on the exploitation of energy resources (oil and gas). Guyana has already discovered oil, and one estimate suggests that Jamaica has approximately 2.4 billion barrels of recoverable oil reserves. In February of this year, it was reported that United Oil & Gas has hired a new consultant to help it find a partner to drill an exploratory well in offshore Jamaica in the Walton-Morant area. The drilling will be done in about 2400 feet of water and is estimated to cost about US $30 million.

https://tinyurl.com/4nujnntv

It's late so just a couple of quick points.

So, a lot of the MOUs are for when things are up and running, so of course there wouldn't be any further update from them. Offtake agreements, carbon credits etc.

Some of the MOUs do have timelines in them.

If you read the RNSs on the GH project you can easily get a sense of what's going on and the overall plan, eg first we got that MOU with CET and a number of weeks later we set up the steering committee with them. We got the LOI from the government, 2 offtake agreements on the cards, the land award, the DFS etc. You can clearly see a plan coming together piece by piece.

We've already been told that Sheikh Ahmed has been paying for his 70%.

We did have an interview with the CTO, not just Naheed. But it is her job to do interviews, not his.

End of the day I think it comes down to this - do you think we will have a JDA with CET on the GH project by this time next year if not sooner? If yes, this share price is a crazy bargain. If not, that's fine but to be frank, your time might be better spent writing on a board you actually have reason to be on.

Crickey if you think this is "shortly", I dread to think what you consider "in due course"

You know AZ did buy quite a lot of shares only a few months ago

Deacs, inflation will come down anyway as global energy prices stabilise. If anything they risk overshooting the mark as the delayed effect is felt by the fixed-termers.

But when inflation does come down they'll say "see, the rate hikes worked" when in fact inflation will come down anyway and all they're really doing is pushing us into a recession for no reason.

Slightly off-topic but nm.

I didn't say it doesn't. I said I wasn't sure. You might be right.

I'm not expecting anything on Friday.

Indicative offers due, but they don't need to RNS indicative offers, so they probably won't.

I said DFS, not FS. FS is a statutory requirement obviously.

Re the closed period, as the question was being asked I was thinking along the lines of the answer given, so I am comfortable with it.

What he's saying is that at this point, every transaction is material so inside knowledge of the details of any of them stops the directors buying. It makes sense to me.