Member Info for JPP8788

Here we go again - "funding needed", "no GOI approval for months" - derampers out in force.

Direct communication with Roland confirms that the regulators are working throughout the election period, and a £400k loan was arranged only 5 weeks ago to give us cash runway until the $2.5m is paid - see clipping from RNS dated 11/03/24 below:

"In order to minimise equity dilution for shareholders, the Company has obtained loan funding from existing investors of GBP400,000 on commercial terms and on an unsecured basis."

So, to be clear - no fundraise needed, and GOI approval doesn't have to be in the next 48 hours.

Strange SP action given we were approaching .14 this time last week.. and I'm not convinced I've seen enough selling to justify the drop back to .11

I think the wider market condition has given the MMs an opportunity to go fishing... All FTSE indexes are at one month lows with the middle east uncertainty - which, by the way, is likely to push oil and gas prices upwards.. certainly not a bad thing for SYN.

So what do we know? Well.. we know GOI approval is due "very soon" based off shareholder interactions with Briana and Roland. We know the two regulators in question, the MoPNG and DGH are working throughout the election period. Plenty of deramping going on here lately - suggestiona being that sign off needs to happen before the election period.. which appears to be categorically untrue.

We all know that GOI approval is the final piece of the jigsaw, the unlocking of the $2.5m payment from Selan also being crucial.

If you believe that approval is due soon, then I have no idea why you'd sell now. And if you're not invested, then the current SP represents a price that I think will be long gone in 2 weeks time.

Selan over 15% up today over on the Indian Exchange.. can't see any announcements or need.. maybe the amalgation with Antelopus is close.. maybe something else!!

Interesting that the email responses from Roland and then Briana had a change in choice of language.

Two weeks ago Roland said " approval in April", a few days ago Briana told me "approval very soon".

Make of that what you will. :)

Confirmed with Briana today that the interview with "The Hive" is fabrication and isn't true.

She has also confirmed GOI approval is due "very soon" and that Ashish is engaged daily with the regulatory bodies.

I agree pjmcgra, but suggesting Selan are bigger than BP is a pretty ridiculous oversight.

GOI approval and confirmation of workflow commencement should see us comfortably north of .20.

Infact... ALL of my SYN posts from March have been deleted. 😭

My previous posts have been removed.

Interesting.

Roland emailled me on 28/03/24 :)

Take your positions. 🎉

A nice start to the week - about time too.

Just a quick reminder - I have had personal correspondence from Roland to confirm the GOI approval is on track, that Ashish is currently in Delhi expediting the process, and that approval is expected soon.

Forget .12 paid.. the bid was much higher than that into close

I was offered .122 to sell.

Early days.

Well Ashish is currently in Delhi overseeing the GOI approval, I know that much.

When she moves, she moves fast!

Same. Emailled Briana to try and get the "no placing" news into the public forum.

An RNS titled "Response to market speculation" squashing the rumours of a placing would go down well.

The only thing that half tempted me to sell when the SP was going down was the risk of a discounted fundraise.

That risk has now gone. Not interested in hourly movements now - will hold as long as I need to until I get to my target.

The market will eventually take note of the value here.

With the removal of the risk that existed (a placing) I'm plenty happy just to sit and hold now until the market takes note - safe in the knowledge that there's no nasty surprise coming anytime soon.

Cannot last at .14 forever. Worth so much more.

For once ikhan you're actually right.

Very few sells around - MMs have the spread tight currently but will need to let it go once they run out of shares.

Don't get left behind - rerate in progress back towards .20 and beyond

NO funding required this year, GOI approval expected in weeks.

Where have all the derampers gone?

Don't miss the train guys.