Well Tys.... I see the volume is low and the SP is hanging...

Well Tys.... I see the volume is low and the SP is hanging around $0.52, I don’t really understand why, but here is my take on the Quarterly.



Pros and Cons of LNG December 2018 Quarterly

Pros:

The report didn’t contain as much BS as usual!!


Cons:

Re Bear Head: Not marketing any offtake for BH. Still marketing to gas producers in West Canada and trying to find supply!! Past comments by GV, and John Baguley suggested negotiations for supply were progressing well and construction on BH could have started last year.

Still paying out money to third parties to try and find improvements in OSMR technology after all these years of telling us how good it was, at least going by the report, it appears they only spent $3,000 on this, under research and development / patents.

Balance sheet of $36 Million includes $3.4 Million of restricted cash, so after a Capital Raise of $28 Million last year, we only have $33 Million of cash left.

Quarterly staff and administration costs of $4.5 Million; Millions of NED and Executive share rights given to management and Board members; And operating cash expenses for the quarter were $10.5 Million.

IDG’s quarterly report stated that a large portion of their investment money was used by LNG for marketing, yet LNG states their marketing expenses were $0.

LNG also states advertising and marketing costs for the next quarter are $0 !!!!!!!!!!!!!!!!!!!!!!!!!!

It’s a bit hard to imagine $6 Million going to the KSJV and KM. I’ve mentioned supply through the KMLP a number of times, no one here ever questioned it, and management never addressed it other than to let us believe there are no issues, we have a pipeline running right alongside our property.

For management huggers out there who might suggest we need bigger flows for our new 8.8mtpa, I know the pipeline, where it goes and the issues it involves!!!! Maybe it’s time ‘you’ looked into it!!!!

Did I mention the accountant didn’t fill in the cash flows from financing activities!!!!

$9 Million extra into IDG's coffers, $6 Million missing from LNG's

I think it’s about time LNG and their new accountant broke down the operational and project costs for share holders to have a good look at so we can see where the money has really gone!!!!