Member Info for kylie75

Of course there’s substance! Timelines, information from company published docs, project activity, none of that is subjective at all. It might appear that way to you because it’s clear you do little or no actual research, but it’s there for anyone to read and draw conclusions from. It’s not my opinion GL paid himself 5% of the mcap of the company, or that P2 timelines are now 2yrs+ behind original guidance. Get your story straight!

Says the person who only ever posts personal insults. Not once have you the mental capacity to logically pick apart the substance of posts you don’t like (in a school yard kind of way). Says it all, both about you and the content of the posts you don’t like. Thanks.

It’s not me, I’m just an observer. GL is defecating on SHs not me. Deep down even you know that.

Amen to that Smuggler, have you seen the share price trend for the last 8yrs!! Think I’ve been clear enough why I own none too.

David, glasshouses and stones old boy. You posted the below message on 11 April, have posted nothing of any value or accuracy on this board ever and have the front to send that message this morning. It's definitely not me embarrassing myself. "WOW so Graham bought £20k worth of shares, real investor confidence booster that is!" What a complete tool. Look at your two posts and hang your head in shame, lol.

Another way to look at it might be that investing less than 5% of your post tax 2024 remuneration would be a very small gesture to show you’re ’in the trenches’ with the troops (SHs) in an attempt to avoid inevitable difficult challenges at the upcoming AGM. It’s a very small price to pay overall. I can see why he did it tbh.

Listen chaps, don't shoot them messenger. you're better off challenging the logic of what i post, it would be far more effective. the sp is not influenced by anything written on this obscure bb, even for much a minnow share as SOU. the sp is merely a function of the performance and value and belief in the strategy and delivery of the management team. they're apparently focused now on adding SH value (lots of lols, sorry). How is that going? I'm not trying to jibe any SHs, i'm merely highly skeptical this team have the ability to do any such thing. just looked and best bid right now is 0.62p, very close to an all time low. it's certainly not me selling or buying! if the gist of what i post was wrong, why is the sp here? this company is being run by another bunch of morally bankrupt chancers who have been outed simply by the number of times reality has failed to live up to anything they say or state or plan. their priority and focus is not on SH value, it's on Exec survival and remuneration. prove to me that's not the case. £10 by Christmas.

I was lying on a beach with a few mins to spare on a Saturday afternoon Smuggler. As usual, you’re completely unable to push back on anything I posted, that really says it all. People are far worse off listening to the likes of posters like yourself than me, that’s completely undeniable. £10 by Christmas….lol.

You think you might have an ounce of humility and self awareness Smuggler. You’ve demonstrably been completely wrong on this share since you started posting. The sp today is 0.05p above all time lows. All that is is a reflection of the value added by GL, ie None. The Managem deal is seen as ZERO value to SHs by the market. They’re making no progress, sharing no updates (other than sharing how much money they’re extracting from the company coffers), what do you expect? This company is nothing but a sham.

I know, that’s my point smuggler, GL has no shame.

PS - "Raises significant equity capital" - impossible. Look at the company's mcap. I don't think "Sells the revenue interest to prepay debt" is an option either, and the mkt and GL/GD know it. SOU are now in an incredibly weak position, and when I say SOU, not GL or GD or others, but SOU equity holders, SOU SHs. It's like having a death spiral debt / loan convertible now. You'll get nothing out of the company now in terms of meaningful believable guidance, nothing. They're covered and safe. They've extracted and outrageous and completely unjustifiable amount of SH value/cash and are not exposed in any way to the future, or not, of SOU. I'm sorry to highlight this on a Saturday morning for most, but this is the truth and the situation. You should play Bullshine Bingo on the next call - how many times does GL use completely meaningless valueless terms such as "in the near future", "close to completion", "imminent" etc.... I guarantee you many many times. He'll feed you all a load of sheet and you'll all lap it up and watch the deadlines continue to be missed and SH value seep out of the door at a rapid rate. GL=JP, they're both the same. Nothing should be this hard, nothing. This asset, this discovery, this development in Morocco should not / could not possibly be this difficult, take this much time unless something was very rancid and wrong at its core, which is certainly the case.

The messaging, from GL, but ultimately (even more worrying in my view) cleared off by the BoD is consistently and unashamedly like painting a turd with gold leaf. the RNSs, investor call, presentations make ZERO REFERENCE to the messy risks and detail, none. they are happy to spoon feed all the most optimistic aspects / outcomes etc to SHs and potential investors, but guide them to NONE of the risks and flaws. None. Read back, review past calls, and make your own mind up, its there for anyone to see. They've been selective/scarce with the truth and left SHs hung out to dry whilst ensuring their own positions are taken care of above all other things, especially SHs best interests. $45m=$0, GL=JP.

PS - "they will have to progress the Anoual drill at some point to keep the exploration license alive" - not sure I fully agree with that. It would be very easy given their connections to the Moroccan govt to simply renegotiate the licence drill commitment deadline back 2/3yrs, very easy. That's long enough to ensure SOU won't be around. GL has completely stitched up existing SHs and they just can't see it. Pathological liar. GL=JP.

Cont.....

skin in the game and are doing very well thank you. SHs on the other hand are getting fooked by a team that are pathologically unable to simply tell the truth and be honest. They use words and phraseology to trick and confuse, all the time. Just one example is this - how many times has the P1 revenue kick in been delayed in the last 2-3yrs....how many times? Latest in a raft of comms was 100% revenue in Q425. Well guess what, now its commissioning in Q425 - guess what people, commissioning is very different from commercial production, which is very different from sales to end customers which is very different from actual cold hard cash in the bank account, which in the end is all that matters. The execution risk with SOU is stratospheric. They are completely inept, and worse, liars. There is no 2025 revenue, I think little chance of actual cash from P1 until Q426 now, at best. As for P2 and the drilling, wake up and smell the coffee, why do you think there has been nothing mentioned, nothing RNS'd for over half a year.......penny dropping?

They did not make it clear there is a major weakness in the Managem deal for SHs. I'm sorry to point this out, but the net impact of the Managem deal was NOT $45m value to SOU SHs, but actually ZERO. GL did well out it, GD no doubt did well out of it, Managem/Morocco did very well out of it, and SOU SHs got absolutely roasted. GL can not tell you otherwise. He blatantly is not in the driving seat in anyway, and that raises the risk on this share through the roof. That means value wise it is probably 90% too high in my view. And for that you have GL to thank. GL= JP.

In terms of timelines, this company needs revenue, and it gave up any control over that to Managem, and conflicted third party / partner, who would do well if SOU folded.......go think about that. Such a deal with Managem could only be structured by such a corrupt and inept team as the one that agreed to the prior year's convertible loan deal that gave away over 10% of the company for a miniscule amount of cash. This company is a sham, a vehicle simply to enrich the Exec team, nothing more. Look at the evidence, look at the history. And they keep doing it time and time again......

PS - I think my stance on SOU has been clear for all to see for ever, your's my friend is much more nuanced (i'm being PC...)!! Posting that and owning 20m shares...mmm. Anyway, nothing you posted there should be a surprise to anyone, simply obvious from the broker cashflow tables, timelines and some basic knowledge about where equity and debt sit in terms of priority in the case of insolvency.

I have stated this before but few if any seem to be able to or want to comprehend it. The $45m (company stated it in USD not GBP simply as a slight of hand making the number look bigger!) is not what it seemed. It was obvious from the word go. Actual cash in the bank was a very small minority of that consideration, most of which went immediately on paying off liabilities and paying unwarranted packages to the Exec team here. Leaving very little cash left now. The vast majority of that 'magic money tree" $45m was contingent carry costs should Managem drill 2 further wells and should they progress Phase 2. As I have said before (no one listened), there was NO LEGAL COMMITMENT obtained to ensure those phases were carried out at all, or within any given timeline, none. That effectively is likely to mean in my mind, the Managem deal was not worth $45m, but ZERO to existing shareholders, yes ZERO. Not a single penny (or cent as the company would like to inflate it) will or has benefitted SHs. GL knew that, GD knew that, the SOU BoD knew that and none of them highlighted that to you guys. They aren't here delivering or protecting SH value, they are simply here to use SOU as a vehicle to further their own wealth, nothing more. Just step back, look at the last 5yrs and someone tell me that's not true. Incorrect, overly optimsitic repeated broker valuations that keep getting overwritten, deadlines that have slipped time and time again, no revenue, no farm out (Sidi), no seismic (Sidi), no Phase 2 progress, continued Phase 1 delivery errors and delays, and in the end as I stated years ago, an asset that has in the end ended up on Moroccan hands for free, for nothing, nada. When will you guys realise that this team can not be trusted. Look at history as your guide, anyone can join the dots.

Can someone explain to me for example - what value, what does John Argent do day to day for the last 5yrs? SOU has done no exploration, no drilling, no development, yet has probably spent in total (SHs have spent in total) about £1m on his total remuneration/package cost since 2020. What is GL doing day to day now? He has complete plausible deniability and distance now - this is a risk I identified immediately this deal was done, "it's not my fault SHs, I can't influence anything anymore because I gave away the asset and all control and influence over it". SOU is merely a passenger, tied up and gagged in the boot of a car being driven my Managem. Treated like a piece of sheet. It does not impact GL/GD/the BoD etc - they're fine. They're hardly invested, have no meaninglyful

Genuine question. How would SHs feel if, as will be the case, the company has to raise further funds just to keep lights on / salaries & bonuses paid knowing that Graham knew that to be the case as regardless took £691k out of the coffers to pay himself? What does that say about the remuneration commitee, FD, and the CEO themsleves? When is the penny going to drop? They know more funding is needed given the 4th time Phase 1 timelines have slipped in 2yrs, and a complete absence of any progress on Phase 2 too. All signs point to exactly what I've been implying from the word go, this company is nothing but a sham, a vehicle for the Exec team to line their own pockets. What actual progress can anyone point to that has any chance of yielding any material revenue before they print new shares and dilute SHs further? Answers on a postcard pls.

Hold on to your ankles gentlemen, uncle Graham is about to give SHs a good ole fashioned rogering. Another AIM abomination. Another empty vessel of a CEO from a SH perspective, not his own of course. Another AIM story, or more accurately nightmare, coming to an end.

When Elon Musk tried to get a $52bln remuneration payout from Tesla, it equated to just under 4% of the mcap of Tesla at the time. Regardless about what you think about the individual or the morality of getting paid $52bln, you can't deny he did lead a company with a statespheric share price rise over the preceeding years.

Graham just rinced £690k from SOU shareholders. That equates to 4.9% of the mcap of SOU. So he's getting/got paid near 5% of SOU mcap for delivering -75% shareholder value over the time he's been CEO/Chairman. I mean WTF......the only thing for utterly insane than that is the complete lack of any concern by SOU shareholders at that situation and the fact it's likely to happen again and again, just like JP did. This company is simply a vehicle for Execs to get paid. They have demonstrably been completely inept at actually delivering and driving forward any major strategy (P1, P2, Sidi, you name it....) and even more inept at delivering shareholder returns. They do however get a big fecking gold star for rinsing shareholders and keeping on feeding them more manyana manyana shyte about rainbows and exciting news just over the horizon. Drilling M5/SBK = 2027 earliest. P1 revenue = 2nd half 2026 earliest. P2 FID, 2028 earliest. You heard it here first, this company and it's mgt team are nothing but a bunch of bullshining chancers who are the only ones to have done well out of this bloodbath.

I’ve said it many times. GL=JP, simples.

Why is that a surprise? this company achieves less than nothing. any value is sapped through exhorbatant Exec remuneration packages. All funding, all risk held by equity holders. No transparancy about Exec targets or LTIPs, so no clear view as to how much they're clearly not aligned with shareholder interests or value at all. the fact GL has finally invested in a paultry 5m shares vs his ripping off of SHs in the last few years in merely a slight of hand, a minor loss vs all he's creamed off the company since 2020. I'm sorry but NO ONE can point to any progress on Phase 1 or Phase 2 that has no only gone vaguely to plan timing wise, but even now there is ZERO chance of anything this year again. When you combine not only the falling SP here over the years but also add in the opportunity cost lost of not having invested in someone else returning even a market average return, it shows what a hopeless money pit the company is. Broker notes that have year after year been proven to be wrong, too optimisitic and merely re-hashed by a new broker after another 18 months. this company is run by a team that are allegic to the truth and unable to tell things as they are. Next stop 0.3p.