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Barhut
The price is depressed its at stupendous levels because sdx cannot take money out of egypt like other companies but what we have seen is that if you follow the news, egypt is close to signing deal with Imf, UAE are prepared to invest $30bn and now the EU are prepared to give egypt $8bn. The things are changing fast in egypt. The funny thing is sdx stated they hope to close WG by end of Jan and complete whole payment by end of q1. Now q1 end is just around the corner what if we get neww then.
SmellyBen states he owns a lot of shares, hes an FD lets say sdx goes in admin now they will recouperate alot more than 8m. SDX purchased moroccan asset and NW Gemsa for $25m back in the days from administrators.
Lets see what happens.
Smelly they agreed to two small offtake agreements, the 2nd one was mentioned in jan. Still negotiating longer term one.
WG is good earner they will not let that go until SD is agreed on too.
With the cash injection of $10bn coming from IMF, $30bn coming from UAE and $8bn coming from EU, the egyptian economy will soon stabilise and you will be able take $ out of country.
SD is cash generative, once money is able to move out of country its gonna be good. Lets just say they cant pay bills cos of money stuck in egypt, they go into admin and sell off assets. I bet they get alot more that £8m for their assets. We already been offered $6.9m for West Gharib. South Disouq infrastructure has value, they wont just sell it for free.
Smelly, in jan they stated they have agreed price for WG and said they are close to agreeing SD. I would wait, if the party were pulling out it wont take this long.
Also the longer it take the stronger sdx hand gets, the egyptian economy is getting pumped once you can take dollars out of country again Sdx are back in action.
Sdx is oversold..
This is what i have been doing.
Like Ned has stated if nothing has changed they cannot mention. We will wait. If egypt reverse the dollar issue then its game on again. Sdx can take money in and out of egypt can run their business. Imf, eu and uae money will help.
Sdx giving Ramadan Mubarak to Moroccans no mention of egypt, so it looks like the deal is still on to divest all from egypt.
https://twitter.com/sdxenergy/status/1767571871476658270?s=19
Last week sdx did wake up on twitter, no mention of egypt looks like deal is still on...
https://twitter.com/sdxenergy/status/1765009212222980296?s=19
They updated us in early jan, they confirmed sale price for WG. I think the buyer maybe russian hence its taking time.
I remember another stock amc, it took them ages to dispose asset to russian buyer.
We will get news shortly i am confident of that.
No news is good news, with the way sp is depressed even if they dont decide to sell things could only get better.
Imf loan about to be signed, uae investing billions, tide is turning for egypt. Imho