Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I tend to agree that Calvalley appear to be taking the p***....I've mentioned before it looks like they are now just walking Sound into a corner...I would just walk away from them. Sound must have a plan B on hand just in case this happens...I liked the presentation though...it would be good if it
happens but the longer it goes on the weaker(financially speaking) the company is becoming.. GLA
This is taking some time now and far longer than anyone anticipated ( including even the the most optimistic of shareholders). "How long does Due Diligence take and how much do they want?"... Calvalley agreed to enter into this deal in June 2023. They would have obviously done a fair amount of research, held meetings with various agencies, partners,stakeholders etc before even giving that agreement the nod. They must have seen/knew something that encouraged them to make the offer in the first place. If the authorities are so keen to market Morocco`s gas and get it into their infrastructure etc why havent they been fast tracking the GSA , licences , etc as its in their own National Interests to get this off the ground. ASAP . I've been in for almost 7 years and bought in the highs and lows . I still have to have faith it will be delivered but am hoping that this process isn't being deliberately walked down for a really low offer takeover being tabled when their is no money left at Sound Energy . If it carries on as it is much longer Id rather they look at pulling out of the deal and seek other options . It might take longer but Im sure GL said in previous presentations there are other ways to fund monetisation. I just hope we`re not going to get shafted at the last hurdle. GLA and keep the faith
1.1p at the end of the trading day...I cant see it uplifting the sp by over 30% on that news alone.The market wants to see more than just a financing deal. If all goes to plan this will be above 5p in about 2yrs and Im happy to wait for that...GLA
Sound should release a video presentation and/or update the website with a current position of where everything is at the moment. Why does it need a shareholder to ask questions like " when is Phase 1 expected to be completed" etc. These should be updated regularly and as a matter of course...these updates wouldn't fall outwith the confines of the information thats already been disclosed to the market....I dont think an RNS is coming prior to Thursday as if there was it would have been here already....GLA and I genuinely hope all is good on the horizon
I assumed any information , negative or positive, that would have an impact on the share price has to be announced to the market as soon as its finalised.Surely they cant withhold it until the investor presentation Im a getting a bit sceptical about this and fear another " wait and see" presentation ...if the deals arent happening or there are delays just get it out there and move on..Graham has previously stated there are other avenues to take to monetise the gas..GLA
Its the lack of updates thats most frustrating at the moment. These things do go over but there should be some form of communication coming from the company to explain where they are at and what the issues are. It almost a month since the extension expired . The Calvalley deal needs updating ( I still think the Yemen problem will be taking up a lot of their time now). It would be nice to hear, or see, an update on the Micro LNG project although the Half year report in September stated that the major parts wouldn't be delivered on site until end of 2023/early 2024... but the SP wont move much until things are seen to be happening ....GLA
I sent an E-mail asking if/when there would be an update as its over two weeks since the last extension date expired and received a bog standard " all updates will be communicated by way of RNS etc"..been here since 2017 and hopefully news should come soon. I`m also wondering if the Calvalley deal is being disrupted due to the antics going on in Yemen , as this is where there main operations are based and they had issues over security there in 2022....just an update of any kind would be nice.
The Bank might be waiting to see how the tax issue gets resolved first before it puts pen to paper...I still think they will commit to funding but the final deal might need tweaking dependant on that.IMO...fingers crossed though..