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Haha, you lot just crack me up, you’re so predictable. Why don’t you focus on the points being made and the facts here. It’s like complaining about the curtain colour in your cabin when your boat has hit an iceberg. I’m convinced I’ve got this lot bang on. I’ll be hanging around until that’s decided thanks. The collective inability for anyone to post anything factually objectively positive here is worth everything.
Smudger - that's a classic get out of jail free attempt by a poorly researched under the water investor - 'balanced opinion'. these BBs are supposed to be where you can share objective views on companies. anyone who remains bullish or optimistic on this mgt team and company certainly has not (in my view can not) posted objectively or presented any facts or justifiable reason for months upon months. just subjective hopeful la la, with zero foundation. Anyone can be balanced, but the fact is, for a potential investor, there is less than nothing (i.e. massive risks) here, and therefore in your mind the truth will never be balanced. that's because it can't be. you can comfort yourself with whatever twisted logic you like, but ultimately the market is a big and scary place, and that fact the sp is at record all time lows should be telling you all you need to know about how the market sees the risks vs opportunities here. like i said, good luck to you, but i'm not sure that's something a normal investor relies on.
I think you're missing the point. You should be suspicious of those that post in here with clear motivations that are demonstrably ALWAYS completely wrong in their views, interpretation and outlook.
You should also really only care about what you're seeing from the company, and your interpretation of it, if you're a suspicious type. It's blatently clear they're not being honest, open and transparent - that should be the world's biggest red flag to an investor, as if you can't trust mgt, that's basically what you invest in, right? they are the conduit through which any asset is realised, so if they're not straight/honest, it doesn't matter about anything else. They aren't btw - just look at their history. Good luck to you, I feel if you're invested you'll need it.
A very good post overnight, summarising what investors should know. That appalling history of inability to hit and hold deadlines is tantamount to huge dilution to SHs. Another person seeing 2025 earliest P1 gas now.
What that history of lack of delivery points to, when supercharged by the withdrawal by management of any SH engagement and accountability is shocking. The use of FB and Twitter to seep out bad news, unregulated channels of investor comms speaks volumes about the characters and competence of those running this company. If there was any good news, you’d have heard it. There is an unbroken track record dating back to 2016, but particularly since 2021, of mgt here not being open, honest and realistic with investors unfortunately. Look at the comms, history and mood music around P1 and P2 work streams, no way P1 gas before 2H25 I think, and that’s optimistic now. In terms of P2 funding and actual FID, that’s looking very very difficult. What interest rate will the bank get? What other giveaways will be made. Unfortunately the likelihood of these projects remaining with SOU look extremely slim to me. If Morocco engaged a well funded competent and integrated energy company, P1 would already be producing and P2 well on the way if not completed. If I were the Moroccans I’d hand these licences over to a team and company with the ability, experience, funding and competence to get the job done, not these run of the mill AIM corporate leeches.
As you do 100% of the time, completely dodged the point of the post. timelines slipped yet again. your relentless atempts to redirect to personal attacks and avoid the carnage that is unfolding here merely shows you up to be desperate with nothing to say. today's news from the company is yet another nail in the SH coffin here. 6 more months of rinsing SHs to come......and then it's not even the paultry revenue from P1, it's just 'the next phase' of this never ending P1 timeline. bring on some irrelevant personal attack and zero reference to the relevance to the company. this is a zombie company on its way down the drain, 100%.
Brutal back door admission that will be (or should be!!) of no surprise to some here, but well and truly crushed the likes of ktf expecting q1 2024 revenue! Next phase in Mar-May 2024, oh dear. They’ve been unbelievably underhand on Phase 1 timelines. For me meaningful Phase 1 revenues seem unlikely until June 2025 now. Bet you can’t get anything out of this lot regarding why, or why they’ve not and continue to not be honest with investors. The SP Angel target looks 3p too high now given the necessary further dilution owing to this repeated timelines slippage
What are you people referring to? Yet more complete garbage posted in this bb. Internationally wrong or just zero knowledge or research. The Nig-Europe gas pipeline you’re referring to goes no where near Sound’s proposed 120km tie-in. Why would it if you appreciated the geography? The proposal has always been for it to be offshore, Turing directly into the existing Maghreb-Europe pipeline between Morocco and Spain, no using any pipeline or land owned by Sound. Sounds operating rights of its Phase 2 120km tie in are completely irrelevant. The irony is of course this increases competition for any molecules of gas and would actually weaken future income streams to Sound accordingly. Classic. Another huge warning to investors to DYOR and not rely on posts here….
5m shares traded….peanuts. Hardly a sign of rampant investment here is it?
https://www.hydrogeninsight.com/policy/morocco-plans-5-600km-hydrogen-pipeline-from-nigeria-passing-through-11-west-african-states/2-1-1522315
You’re supposedly in contact with the company ktf, cough cough, I see you don’t have an answer to my valid question yet again. Why is that I wonder? All these endless delays only get paid for by SHs, hence the one way sp. GL just can’t deliver, isn’t believable and isn’t trustworthy, that’s a critical problem. And the complete absence of any pace here speaks volumes about underlying and undisclosed problems re phase 1 and 2. He’s really run out all excuses for not handing his homework in at all, let alone on time.
In an interview in the middle of September, GL made a statement about important exciting news before the end of that quarter, i.e. Q3 2023. Does anyone know when, in GL’s head, Q3 2023 ends? As has been the way for 6yrs here now, no sex or violence, no actual delivery in terms of cash flow either, but plenty of can kicking and over paid salaries for nothing actually got over the line. Hence sp sits at all time lows today. This is just another o&g black hole money pit for retail investors unfortunately. Just think about the position equity holders here are in….actually, best not,.it doesn’t bare thinking about. The wall of silence is deafening. When SPA revise their target price next year, it will be below 2p is my view, given all finding and dilution to come. Plus no Phase1 gas until 2025 earliest.
Yes.
yet again, in terms of detail, you post nothing of value other than hopes & dreams. nothing factual, nothing objective, not actual pushback, nothing. as a supposed investor here, it's insane you're invested under those conditions.
Greendragon2 - your statement "They are a lot closer to the potential fortunes of the company than you are."
i completely agree with you, they are. But yet again, you and many others just can't see or seem to understand the obvious here. As noteholders / providers of debt to this company, they are far far more protected than existing SHs here. If this all goes belly up, they will have collateral against the underlying assets of this company right near the top. SHs are right at the very bottom, even below day to day creditors to SOU. As such, they can afford to be relatively less concerned than SHs as their backstop is far far better than the non-existent protection for SHs. So making the conclusion you did, is fundamentally wrong. You're drawing the wrong conclusion entirely.
Just look at the history here, this company continues to stumble on, a bit like the knight in Monty Python, yet SHs and SH value get utterly crushed. This trend will continue and that is really what should be important to any SH, unless you have some ulturistic charity goal here, supporting the Moroccan energy complex from the goodness of your own heart.
Oh dear, ktf. You still don’t get it. JP previously did so much damage to this company that it seems like it’s impossible for the market to get over it. Despite the RNS yesterday the bid this morning has barely moved 100th of a penny. I’ll let that sink in….. can you imagine if the RNS was negative yesterday?
The chief basher (your terminology) here is actually GL himself. The market is highly sceptical of him and the team. They’re not being open at all (even a little) of ten or so major asset and corporate updates or outlooks. As long as that’s the case the sp will continue to fall. There’s always the likes of yourself who don’t properly read or understand RNSs and finances of companies like this, but there are many that do. You can tell by the complete absence of any buying since the RNS that no sophisticated PI or institution with any funds is interested still.
The company is in a perilous position, and even the most optimistic outlook is very very grim for existing SHs, hence the mgt team are unwilling to respond to reasonable questions at all now. The end is nigh is SHs, possibly not for the pigs at the trough though…
Not in the way you're suggesting or implying ktf. if there's a problem it would corroborate for me the red flags i have been highlighting here for a long while. that's it. my issue is with the management team / company, nothing more.
What's the general expectation from the Noteholder Meeting today? everyone hopeful? kind of critical, if it goes badly then all the other elements are at huge risk, phase 1, phase 2 and CalVal (if they're even still a realistic funding prospect) and the bank funding too..... squeaky bum time indeed. Nearly 2hrs after meeting started.
You'll have to ask them dangler. i guess i'm not rolled over by them whispering what I want to hear in my ear. it makes for a more challenging exchange which I guess they're not up for. if you've got nothing to be positive about, I guess it's tricky for them. all this carp about it being my communication style etc - what you're all saying is the 10-12yrs of positive bs commsfrom this company have all led you to where.......oh ok, rock bottom sp, and zero existing investor returns. ok, whatever floats your boat I guess.