Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Legache
Wait for the strategy news it will be their and the h1 results.
Like i said if they have over $5m in bank in egypt im confident they will get $15m-$20M for asset. The mkt havent got their marbles together. They need to be spoonfed.
Legache
They would look like huge idiots if they informed mkt on new strategy and ksiri 21 found no gas.
I dont think the chinese would have given the upfront payment for gas then.
Todays news is positive this means that the larger payment will likely happen.
We all know money is a bit tight as its all in egypt. But im confident they will get good deal for egypt asset.
Legache
The upfront gas payment from chinese would have been subject to them finding gas at ksiri 21, now that can go ahead as criteria matched.
So the new strategy can be announced.
More news coming imminently. Imho
"In 2023, it is anticipated that workover operations will be performed on SD-3X and SD-4X wells, recompleting the wells to shallower reservoirs to maximise recovery, and on IY-2 to restart production from the existing reservoir."
So lets seebif these were done? Not much about Morocco also.
Well your british pound is worth 17p less than two years ago.. so what..
Like i said south disouq was valued at 6.1p a share when they sold 33% so the remaining is valued at 4p a share. Add west gharib asset and cash balance it so obvious they will generate around $15m-$20m from disposal..
Then they also have moroccan asset with decent infrastructure, the current price is a joke. $7.67m mkt cap..
Jay needs to get his finger out..
Lets wait for results.
Like i said in end dec 22 they had $10.6m cash. Lets see how much they got now.
Mkt cap 7.5m which is absolutely silly.
There are companies with no production worth 20m.
This is way oversold..
I mean the banks will allow dollars to be taken out of egypt.
Theres a shortage of dollars in egypt at mo and egypt govt has stopped dollars leaving country.
Egypt is very important to israel security, the USA will never let it fail hence imf loans.
Maybe its a delay tactic if the situation has not resolved by christmas sdx will dispose asset. Who knows.
But Aleph and Chinese have been willing to step up presumably confident of the deal..
Legache
According to UOG ceo its temporary issue. Which i agree too.
Eni and BP investing billions in egypt recently even with dollar issue, but we make business choice to leave egypt.
Also the chinese company wouldnt have given us upfront gas payments if they didnt believe sdx would dispose egyptian asset.