Guys, it's an absolute pleasure sharing my thoughts as I can empathize with the concerns expressed with the share price at these crazy levels.
However in all honesty, I have never doubted the team's ability to get MLNG away and my trip only served to underline this with the world class team we have, their focus and their conviction to get the job done. Time and again, I heard the reason for them joining was MB's vision and the fantastic opportunity MLNG presents.
So when doubt sets in, think about all these guys (and girls) who have families to support and why they moved from Chevron, Fluor, GDF Suez, KBR & Bechtel to name but a few to LNG and the motivations each and every one has in driving the business forward.
Sure there will continue to be market volatility and plenty of doubters (who can't help themselves on HC), but when all is said and done, consider these facts:
> The top 3/4 shareholders own 40%;
> One well known investment bank recently met with management;
> Funding shouldn't be an issue;
> Local, state & FERC are all supportive;
> Our foundation BTA is rock solid;
> MB is as energized as ever;
> The team is incentivized by performance rights;
> cash burn will slow (the regulatory process is very expensive and we're almost done); and
> NY listing preparations continue
So when one of the guys tells me he's doubled down, is one of the the best in the business and is itching to get started, no prizes for guessing what this ferret will be doing. I just need to convince Mrs Ferret.
So keep the faith and ignore the day to day share price gyrations which isn't easy I know.
Because when the Mexican standoff breaks, the market (which clearly doesn't think MLNG is going ahead valuing LNG at its cash backing), will quickly correct as future cash flows will be locked in.
And remember, 62c per share earnings was what Clarksons Platou estimated back in January
http://hotcopper.com.au/posts/16768216/single
Finally, remember oil back in January? It's now up 80% since its lows despite the ongoing, but diminishing, supply imbalance.
And that is precisely what will eventuate with LNG as market dynamics play out and why MLNG is exceptionally well placed.
Timbo
