Member Info for MountTeide

Shorter....as I've said repeatedly over the last two years; i invested principally for the KSK asset and said I would disinvest once that became monitised, either through development into production or a trade sale.

Resorting to insults does not do your credibility any favours.

Await your views on the merits of indirectly handing most of your investment in ARS over to a shady company like Auternum, run by a character - lets be generous - with a highly colourful reputation, and a track record of delivering spectacularly poor shareholder returns; so bad the Indonesian Prosecutor General has demanded an 18 year prison sentence for his involvement in a pension investment scam while running Sugih Energy.

AIMHO/DYOR

5 km from the Sumatran fault system and at the intersection of one of the splays and a major arc normal structure. remember this is close to Banda Aceh

250 cm of rain on average every month of the year

both porphyry and skarn mineralization and some later stage epithermal alteration meaning multiple phases and mineralization types

note present of argillic alteration in some locations and presence of arsenic as well (enargite)

east porphyry right in the bottom of a valley with a river running in it (remember the 3m of precip every year) and also 'steep mountainous terrain'

core recovery is mentioned but no numbers provided except in a latter section where a 'core recovery vs. copper grade' mentions significant issues with core recovery and the presence of very high clay alteration. Note the picture of the core showing very poor rock conditions.

it's in Indonesia

summary - stay away unless you love high risk exploration geology stories where the current resource would need to be quadrupled at MINIMUM to become interesting for a company that might build a mine. The geo-technical risk appears gigantic for this deposit

The largest two institutional investors had a VIP tour of MPL's port under 'construction' in Mumbai - didn't stop them losing 99.8% of their IPO Investment and 98% of their subsequent placing investment because they didn't understand what they saw, despite being warmed repeatedly by industry professionals - none of whom has ever shorted a share in our investment life!

Beutong is in a mountanous equatorial jungle at the bottom of a deep ravine with a river running through it, fed by circa 300 inches a year of annual rainfall.

If you want a professional opinion of the merits of Beutong, suggest you read the work of an industry professional and mining sector investor , and the comments off her industry friends at the link below:

http://angrygeologist.blogspot.com/2018/03/asiamet-beutong.html

Shortarm ......With most of the my Asia Met share sale proceeds going into building a 2.0m in SAVE - which is now sitting at 9.6p in ARS terms - the risk reward of buying a new position in ARS would need to fall back to the 2p area to look attractive again.
How about some of the cheerleaders on her replying to the entirely legitimate concerns the market has about this agreement with Aeturnum ....I've published my research which seems to support the markets view to date.
Grace us with your research on Aeturnum and its management's suitability to execute a deal for ARS's KSK assets, which even if they were to successfully pull off the IPO, will still mean that most of ARS's value will be tied up in an investment in WIN, which going by Sugih's previous performance at running commodity exploration and production businesses is hardly a comforting thought!

AIMHO/DYOR

The performance of the s/p since the announcement of the execution of the S&P agreement suggests it raised far more questions than answers, which it wants addressed.

Most importantly it seems to be asking "Is Manini fully aware who he is getting into bed with, with his shareholders investments?"

With a shareholders vote on the agreement due in barely two weeks time according to the published timetable, Manini needs to urgently address the entirely legitimate concerns the market is holding with respect to this deal.

MPL is 98.5% down since I posted research strongly suggesting the company was un-investible and should be avoided like the plague!
If only the II's who gave the management £160m had carried out some research worthy of the name !
The management here and at TXP where I hold 1.2% mostly bought immediately following the London IPO at circa 8.5p, are outstanding, among the very best I've come across with track records second to none in creating shareholder value. IMHO/DYOR

SB 'You, my dear boy, cannot hang in my world! With your pinstripe suits and butlers and what not!'

Hahaha.....Never owned a pinstripe suit and definitely never had the services of a butler .......brought up on a run down Essex council estate and used the excellent Grammar School education I received and street smart awareness developed during my childhood days as my passport to success in the working world - owe a huge debt of gratitude to the superb education I got from the state and its teachers - as good as any private school without the £35k annual fees !

Research is clearly not your specialist subject - if you carried out some proper DD you would find the management building 'the crappy Indian Port' has already raised $215m from a blue chip list of well heeled London Institutional investors and $68m from 4 major investment banks - and that the company currently has a £7m market cap despite having an 'asset' the management laughably claim has a carrying value in the books of £170m !
I could go on tour with the material in Arden Partners Notes on MPL ! The Indian CEO and currently highly paid consultant is currently out on $1m bailed after being arrested at JFK airport and charged with carrying out a $300m securities fraud.
The Indian former executive Chairman and still NED is currently the subject of writs alleging he sipped $hundreds of millions out of companies he previously had executive responsibility for!
High quality research may be time consuming but its largely responsible for the performance of most successful stock market investors !

You've now seen some of my research - what do you think of Aeturnum Energy and their CEO's suitability to handle a $500m IPO involving your ARS investment?

The impression I formed from spending another half hour today researching Aeturnum Energy/ Sugih Energy is that they're a shady nickel and dime energy trader, headquartered in a Caribbean tax haven, with few assets; that is currently the subject of energy trading bank fraud claims totalling $89m, run by an Indian shyster of whom the Indonesian Crown Prosecutor is demanding an 18 year prison sentence for a securities fraud which resulted in investors losing 99% of their pension investment.

Is this the type of person/company likely to successfully bring a $500m IPO to the Indonesian Stock Market?

AIMHO/DYOR

'Fig...I, for one, am most grateful for MT's selfless efforts on this and many other stocks he covers. He genuinely tries to help others avoid the stocks that have been tried and tested as being those to avoid. Unfortunately (for them) some people just can't be helped and you appear to be one of them.'

For the sake of accuracy - I didn't get banned from Advfn.
Rather Hornblower has stopped me posting on his premium Asia Met thread because he does not like negative views/boring posts!

A recent post from the Mercantile thread suggests some there appreciate hearing about both sides of the investment case !
'figtree. You should thank MT for going your research for you.
You have learnt from him in the last few days that you are now invested in a Company that cannot afford to repay its Bank debt, has as good as nil Revenues with a Team of fraudsters at the top, hiding where the cash has gone as it sure hasnt gone in to any related asset
I wish you well with your strategy.'

To describe posting easily verifiable facts as 'Merry Hell' because it failed to support the blinkered, poorly researched narrative of a small group of shareholders and a management shill on Ad*fn speaks volumes about your own and their investment case DD.
Experienced the same response at Mercantile Ports and Logistics - if I were able to save one PI from the 98% loss the 'investment' has since experienced I consider that to have been worthwhile because industry experience and high quality research suggested the loss was inevitable!

FT - Sugih Energy - 2018 operating revenue - 18.89bn IDR (£0.94m) / net income - 264.68bn IDR (£13.1M loss)

Selat Panjang PSC - Energy Pedia
hTTps://www.energy-pedia.com/news/indonesia/sonoro-energy-awarded-selat-panjang-psc-block-in-sumatra--indonesia-176590

MNK Selat Panjang PSC Block (Selat Panjang Non-Conventional) - Kontan / Mining
hTTps://translate.google.co.uk/translate?hl=en&sl=id&u=https://industri.kontan.co.id/news/eksplorasi-blok-mnk-selat-panjang-sugih-energy-sugi-butuh-dana-us-2795-juta&prev=search&pto=aue

Lemang - Sale to Jadestone - O&G Journal
hTTps://www.ogj.com/general-interest/article/14178681/jadestone-to-acquire-operated-90-interest-in-lemang-psc-onshore-indonesia

Kalyani PSC Block - Sugih's own website states PSC expired in 2017.

Son - a fool, his poor research and money is soon parted !

I suggest you contact the Indonesian Ministry of Energy - it well prove a sobering experience !

Tony Manini's - looking forward to hearing his Due Diligence on the business assets of Aeturnum Energy / Sugih Energy.

Here is mine collected from various sources:

hTTp://www.sugihenergy.com/index.php/about-us/company-structure

It looks like only one of the Indonesian O&G PSC's previously held by Sugih Energy was still held to make the transfer to Aeturnum on the change of name - this was the Lemang PSC sold to Jadestone Energy last year.

The only other asset of potential value in Sugih Energy is the energy trading business located in Singapore and now the subject of multiple bank fraud claims.

Sugih Energy - O&G Assets

Selat Panjang PSC

Sugih obtained 55% participating interest and operating rights to the Selat Panjang PSC in 2014. In 2018, the block was terminated by the Indonesian Ministry of Energy after Sugih failed to implement the plan of development.

Sonoro Energy, a Canada-based oil & gas company, secured the Selat Panjang PSC in the 2019 conventional bid round.

Lemang PSC - Jadestone

Hawked around the market last year for $50m - subsequently sold to Jadestone Energy in a distressed sale for $12m.

Kalyani PSC Block

On 18 September 2012, Sugih acquired 51% share ownership of Eurorich Group Ltd, giving the company participating interest rights and partial operating rights to the Kalyani block. The exploration period for the Block expired in December 2017 with no reported exploration work carried out during the duration of the PSC.

MNK Selat Panjang PSC Block (Selat Panjang Non-Conventional)

The MNK Selat Panjang NC block was awarded to Petroselat under the production sharing contract on May 22, 2015.

The contract expires on April 22, 2021. Petroselat Ltd was declared bankrupt by the government on July 5, 2017. Prior to this Petroselat Ltd had not carried out the firm commitment exploration programs that have been approved by the government because it was "still waiting for funding sources".

Source: various Indonesian and SE Asian O&G publications

AIMHO/DYOR

Central Asian Metals investment case fundamentals at current industrial metal pricing speaks for themselves.

At $2.60/lb copper, Kounrad's 73% operating margin was already ahead of Apple's 69%.

With the management since engineering the company into a Covid driven ultra leaned down state and copper now touching $3.70/lb, Kounrad's operating margin will be in the stratosphere.

If SAVE secure new contracts at anything remotely close to the $7.50 Mcf(a top of the range long term LNG contract supply rate to Europe), they achieved with the Lafarge renegotiation, they would generate cash flow from them similar to a high speed currency printing press churning out high denomination notes!

At $7.50MMBtu their operating margin would probably put Apple's 69% and Centra Asian Metals 73% completely in the shade!

Thursday's world record LNG spot price of $24 MMBtu was blown out the water less than 24hrs later!
Javier Blas of Bloomberg said today(Friday) that at least one LNG spot cargo was sold for $33-$36/MMBtu to an unnamed SE Asian buyer!

That is a Brent equivalent energy price of $192-$209/bbl !

More than 94% of Savannah's Nigerian Nat Gas revenues are underpinned by World Bank guarantees and have an average contract life of 15 years.

Finncap Report - October 2020:

'Yesterday’s interim results and trading update clearly demonstrate the promised transformation following the Seven Energy transaction.

Savannah is now a highly cash generative business with US$133m (+28% y/y) of cash collections in the 12 months to end-August from its Nigerian gas business, on track for its reiterated FY20 revenue guidance of US$200m+.

This is not a passing fad either. Over 94% of this revenue is derived from US$-based gas sales agreements that are underpinned by World Bank guarantees and have an average contract life of 15 years.

Moreover, gas sales to new customers are expected to start before year-end and additional contracts hopefully signed, so there’s growth to come too at minimal cost – there’s plenty of spare capacity in the gas infrastructure.'