@panorama , mgmt have been saying all along that renew the EPC contract would not be an issue.
The only thing that is going to move to SP forward is signing BTAs. Without BTAs being signed LNG will not be able to reach a FID. Without funding the Company will not be able to progress to construction. Even if LNG are able to sign another BTA of 2mtpa it has been said that it is unlikely they will be able to reach FID.
Mgmt are still a long way from getting Magnolia up and running which is why I decided to sell out. I predict that the Company will find itself in a position where they will have to go market to ask for more money to help pay for GV massive +800k USD salary.
The response to the announcement shows that the announcement released today wasn't groundbreaking. In fact, nothing has really changed. Mgmt are still in the position where the anticipated cost to build the project remain the same, the only BTAs that has been signed is with a Company that is non-creditworthy, and delivery dates keep being extended.
People on the forum keep shutting people down saying that people need to be patient, but the truth is that Company advertised as the lowest cost producer of LNG yet mgmt still can't get people to commit. It has been nearly 3 years since the last BTA was signed. Two years for GV being at the helm with minimal progress. That is why the SP is sitting where it is today.
Until LNG show signs of real progress, I will happily sit on the sidelines and park my money in a company that has been delivering on promises and moving in the right direction.
Good luck to those who are waiting it out and have a Merry Christmas
LNG Price at posting:
42.0¢ Sentiment: Sell Disclosure: Not Held
