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roperdoper

130 Posts.

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28/01/16

13:03

Post #: 16884986
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Originally posted by Bortgm ↑

Good post ropey.

One thing for sure is that MB is, and always has been a glass half full man. If you look at the projects he has previously got close to the finish line (and it's not just FL) you will see that when things go sour news is very limited. In fact there is never a definitive announcement saying game over. That's a worry.

We know with some confidence that Baupost and Valinor have not sold down their holdings. That's comforting.

We know with some confidence that despite institutions being keen to snap up shares at the last CR @$4.35, no one seems keen to jump in @60 cents. That's a worry.

We know directors haven't been buying of late, that's a worry.

We know that there is a short term glut in gas supply. That's a worry.

We know that balance tips to a supply shortfall by around 2020, which is really the only relevant date given that our supply comes on line then. That's comforting.

Trouble is our deals are done now, not in 2020, and it seems market sentiment is making end users nervous. That's a worry.

I understand why the company can't post details of negotiations, but there were announcements stating a milestone of 12/2014 for the conclusion BTA's. It's hard to ignore this when nothing has been announced to explain or even acknowledge these delays.

I have corro from the company dated sept 2015 stating that the deals were going through final internal checking.

My last correspondence to MB has not been answered.

I think it's fair to say that if we don't get a deal by late April then we are not only tied to the poo, we are knee deep in it.

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Borty, I omitted this bit but stuff it. If I was Baupost or Valinor, I would take a page out of Icahn's playbook. I would seek appointment to the Board and challenge all decisions and people on it. If FID isn't forthcoming, I would question the leadership going forward.

LNG Price at posting: 63.8¢ Sentiment: None Disclosure: Held
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Held to account, page-10

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