Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
“Levelup just made the first sensible point I've seen in all this negative sentiment. I did actually believe the "£1.50 per TCF to Sound", which would have underpinned us at 57p for 355 Bcf recoverable. But when I think about it, I probably got that idea from this board not the company. I do remember at some point they moved to clarify it was 57p multiplied by SOU's 47% interest, i.e. 27p per share. Did someone deliberately mislead?”
It was said multiple times & I was there at an investor event when someone questioned it. JJ stood up and said 1 TCF was £1.50 to Sound in an almost condescending tone. They knew damn well that we all had it wrong and chose not to address it. I remember they even admitted so later on & apparently took legal advice on the matter.
It’s really infuriating that people are just willing to brush this off as their own fault or the risk associated with exploration. We were told we were underpinned, it was a lie.
£1.50 per TCF to Sound. That statement alone was criminal.
“I'm not an accountant, but if he is taxed in the UK, his tax rate plus NI could amount to around 50%, and to pay that he'll have to sell almost 3 million of those shares.“
It never rains, it pours. Hold on to your golden tickets while we run for the exit..
Jez I actually refrained from mocking your inability to muster up some common sense but now wish I hadn’t.
Like I said if we discover more gas. I think people forget how big the numbers actually are & how valuable a TCF of gas is. Numbers you won’t see selling tat on eBay.
During the exclusivity period if the buyer was to pull out or not meet said milestones would it have to be RNS’d straight away or would both parties wait until the 14th?
The share price & recent fund raise would suggest the deal won’t go through but seems somewhat disingenuous if they already know but wait until the exclusivity period is over.
I’ve always been of the opinion that no news is good news as the days count down to the 14th but with then share price so low & with Sound having history of being a leaky ship it is concerning.
Any price sensitive news needs to be RNS’d but would the ’exclusivity period’ negate that...
I’m actually optimistic about future exploration & although the deal isn’t the best we’d hoped for, on the face of it at least gives us a chance to hit the TCF’s.
I’ve been trying to think of a similar story in terms of asset sale where the share price has been so out of touch with what’s on offer but can’t really think of one.
14th is getting very close..