Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
And it will be down again you moron. just look back at your posts. do you not have an ounce of humility? time after time people critical of this company, its assets, the wider burocracy and the various management teams here are proved right. alomst 2 months now since GLs rousing Churchillian speach, but unlike Churchill there's nothing but hot air and bs behind it. retail investors here, LTHs here will end up paying a very very heavy price for not understanding details, being able to read and understand the financial impact of what's stated in RNSs, what's not stated in RNSs and comprehending the difference between the company and existing SHs - they are mutually exclusive in terms of success and ROI. the incomprehensibe delays and layers upon layers of excuses and bs from GL and the team are merely the outwards signs of underlying catastrophic issues behind the scenes. the irony is that those people who are sceptical really don't need to do anything anymore, GL does the best job possible at laying out the bearish view on this company and the sp. put simply, without any actual progress, all this company is doing is posting some dull as feck pictures on social media. that doesn't pay any bills at all. GL=JP and there's a funding round upcoming, put on your hard hats.
everyone understands what's going on here right....? or does it need explaining for the 50th time?
gl sold you out. he entered a gobsmackingly ****e funding deal whereby the holder has approx £1.4m interest still owed to them, they sold out of the 30m a few days back @ 1p (where they took them with huge return of over 75%), and now over the next few days they will every day walk the market / close lower as they are again pricing in the next tranche and the lower the 5d avg price the more shares they get, the more dilution you suffer. this is a good old dulution disaster for you guys. wake up and smell the coffee. gl = jp. don't trust me, just for goodness sake, get half a brain and do a little research will ya...
Applicable to most LTHs here I'd have thought. Not me. Yet again, I'm just posting fact and logical argument, you lot are knees deep in hope, pot and desperation by the sounds of it. Unfortunately GL is about to sell you down the river for the 10th time I suspect. His new 'better communication with shareholders' approach is really not working too well is it.
as with your 3633 other posts ktf, nothing of substance again, no objective challenge to the points raised, just playground bullyboy bs. what a tool you are. what sort of twisted individual posts 3634 times on a company bb and calls every single one of them wrong? the first person in history to have started investing 5000% or more higher than the current sp and bought all the way down, yet still be in profit. either warren buffet could learn a thing or two from you or you're talking utter ****e as usual - i wonder which it is.
one thing that is crystal clear, the moroccans can’t possibly want sou and in its current form to proceed with phase 1 or 2. just look at the timelines and rnss since 2019. there’s no way a country and its bureaucracy can be so inefficient and financially naive as to take this long to green flag all the necessary elements of a supposedly nationally important energy infrastructure project. i call bs on this not for the first time. listen to the february gl video again objectively, there’s no way phase 1 gas comes before q2 2025 now, just listen. he did all he could to warn shs about massive incomprehensible issues with phase 1 procurement timelines, esp the lng tank.
even more critical than zero revenue for another 12 months, the lack of funding. no money. no progress. bs videos promising the world (for sou anyway) and delivering you nothing. i’m convinced there’s a large and brutal funding round in the background. a 27m trade was hidden on thursday afternoon, just 2hrs before an after hours sneaky dilution rns. don’t you get it? people don’t change. gl is just like jp, untrustworthy, out of his depth and quite frankly incompetent in my view. the assets that underly the minimal sh value left here will first be watered down a further 20-25% minimum soon in my view (reducing the spa target to sub 2p in the most optimistic scenario) and then the company will be forced to fail by this phase 2 round ‘failing’ to the advantage of onyhm or some other locally backed organisation. what have the moroccans ever done for you….? something smells very very wrong here again, and when that’s the case with sou, it always always turns out to be a ****show, history demonstrates that.
Being a shareholder in SOU must feel like the most toxic Groundhog Day. Time after time people fail to read or understand the nature of RNSs, read between the lines and comprehend not only what’s said and how, but more importantly what isn’t. Time after time they realise all too late management have lied, been opaque, been incompetent and risked only SH money, honestly how many times can it happen? Again the lower the price goes now the worse the dilution. The 30m is at 1p, the remaining 1.4p could be at 0.5p or 0.2p in which case 30-50% of the company is given away. And yet like absolute mugs the SHs here listen to moronic posters who insist day after day news is imminent, their nan knows a cleaner who heard so from GL’s cousin, all the while GL just mugs them off. Like I said interesting short week ahead in the funny farm. Added to which, 6/7 weeks from GL’s rousing bs video, nothing. Absolutely zip. You lot are being taken by the nose by another snake oil salesman, all the way to the slaughter house.
There’s no positive spin that can be put on the last funding round. Either GL and GD got completely rolled over (I mean Jesus, the ROI on the lender is eye wateringly good at SH expense) and they just couldn’t fathom how bad such a structure could be, or they were so desperate of running out of funds they had no choice. Which is it? I completely agree with the last poster, as is GLs MO he’s not open obvious or transparent. That RNS hid in various convoluted ways the true horrible extent of the financial impact of the raise. For obvious reasons, but it’s underhand sneaky and distrustful at best. Why is all this happening? Well it’s merely a window or two into the extremely precarious state of the company and the outlook for existing SHs in particular I fear. History does repeat itself time and time again, and this company is full of punting PIs hoping against logic, history, objective analysis and the blindly obvious that a one in a million rabbit will be pulled from the hat by very sub-standard management. I very much doubt it.
Fernan10 - I might be wrong but from what I see / recall the bank loan $260m ish did not when announced have an interest rate agreed yet, and I think still hasn’t. If that’s the case the current valuation can’t take that final interest rate fully into account, right? I seem to recall SPA specifically highlighting this back last summer/autumn, like it was a caveat to the 4.6p. I might be wrong, but if I am it would be good if someone can show or prove so.
KTF/Antigua - the old he’s mad as a box of frogs approach! Classic. Which part of my interpretation of the RNS was factually incorrect, exactly? None of it. By the way, the last 4.6p valuation from the increasingly marginalised SPA excluded any interest impact from a phase 2 bank loan (as that was conveniently omitted nearly a year ago when initial terms were shared) and the impact of this 12%_??% dilution coming from this latest interest rate related share conversion by the latest lender to take SOU’s eyes out. GL and co must be seen as a joke and cash cow amongst these lending sharks. Free cash at SH expense. And all the while a lot of hot air and zero, or less than zero given the cash burn rate, actual tangible progress. Rather than your lame attempts to discredit individuals here, why don’t you take apart what they post about SOU, it would be far more effective. Oh yeah, you can’t…. I’ve been right in SOU since I started posting, it’s 55% lower despite recent brief rally. You’ve seemingly been wrong, very wrong, for many years. Bit of humility!!??
can’t anyone see gl is simply using similar techniques to jp? jp talked the talk but ultimately was woefully inadequate at walking the walk. same with gl. it’s like a confidence trick, all non rnsd rah rah positivity, lame photos of minor progress on an lng tank (one aspect of a huge to do list re phase 1 still) that should have been producing by now and *******s and bluster. yet the cold reality is this project, its complexity and cost and delays and incompetent and evasive and distrustful management are going to break at least existing shs imho, possibly the company. there’s no news near in my view, a summer whinging video to explain further delays and lack of delivery after a near certain 30% dilution fund raise is coming (on top of the 12% interest related dilution all shs were rudely reminded of yesterday ahead of a long weekend!). sp will be at 0.4p by may imho. gl is a chancer, a bs artist. it’s all talk and no action no delivery no cash, same as ever with this company. a big bottomless hole in the desert full of sh cash.
Frustrating on this bb. Many are truly clueless. This doesn’t bring a penny into sounds coffers. It merely repays what is an existing debt / interest. So no, it doesn’t keep the lights on at all. The new broker will no doubt lead a raise soon, sp below 0.4p by mid April is my view. Cheap for those still buying the 6-7 year dip in their new year ISAs!! Oh dear.
Even the most die hard ‘head in the sanders’ can’t fail to see how utterly moronic GLs last (and likely next) fund raise was. Read the latest RNS. A wave of interest conversions to come (totalling 210m shares at todays sp) that at the current sp account for 11-12% mcap, when the sp is back at 0.6p next Friday after 30m sales next week, it would represent 17% mcap dilution coming down the tracks soon. Dilution is what will kill SHs here, delays and dilution go hand in hand. All a result of zero delivery by management. All talk no delivery. Gonna be a fun short week next week…..eek…
What utter tosh, do you not listen to his videos? it was very clear that pretty much all the chess pieces need to be in place before any of the separate elements can be finalised and signed off. they are all inter-related. there are clearly some aspects of the GSA, or licence or bank funding CPs (he's mentioned this many times) that are likely holding things up to me. CalVal wouldn't sign without those being in place and the Bank won't lend without the equity proportion of the funding (i.e. CalVal) being in place. they are all inter-related and dependent on each other. I don't know which call you listened to that allowed you to reach that conclusion but as usual it's lazy, under-researched and baseless twaddle.
Haha, yeah like you’d know. Anyway, much bigger is this merely shows GL is no different to JP. All those assurances in that rousing video 6 weeks all mean nothing. They weren’t RNSd. All mean zip, funding coming and only to keep lights on I suspect, looks like phase 1 and phase 2 progress is going from bad to worse. Suspect Calval deal is cancelled and brutal fund raise coming.
Eric, it's not massive for SOU. It's certainly above avg, fully agree. There have been 12 days in the last 9 months with daily volumes over 20m for example. If more than 30m trade today which is possible, it will be the largest day in 6 months.