LNG 0.00% 4.3¢ liquefied natural gas limited

Poss You know i genuinely support the notion of the company and...

  1. 130 Posts.
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    Poss

    You know i genuinely support the notion of the company and what they are trying to do. But sooner or later, you need to test your resolve to support the stock itself - which is somewhat different. I faced that point in December, wrote my thesis thread and sold out at 90c (yet broke my own rule and made a bet (not an investment) and bought at little in the recent weeks. but mainly i am on the sidelines and this is sh*t to watch.

    We have all debated and trawled over all the elements which have caused consternation - be it program slip, OSMR, BTA's, BTA's end PPA's, EPC, site mobilisation, founding directors stepping down / key recuitments, hedge funds piling on shorts, term sheets not resulting in BTA's, 20 interested parties but no deal, stonepeak / mezz funding, capital raisings and procurement of some components to Chart. List goes on.

    But something seems amiss here with the company and what they are trying to achieve. what that means i don't know. but i suspect what comes out, when it comes out isn't going to be as has been portrayed so far. Whether that is equity transferred to BTA party, program slip further, project deferrment not sure. But i am struggling to see, other than FERC, that which is waiting to drop and which hasn't dropped.

    and i have tried to figure out why - with AES in particular. why is it delaying signing up? Yet it seems Cheniere has no problems getting incremental BTA's. Cameron LNG the same. And as Timbo even pointed out even Goldsboro in NS has 5 mtpa offtake.

    it cant all be the market being down - the project is arguably significantly more de-risked than a year ago, yet we are worth 10% of what we were then. maybe less. i can take the notion that the market can be wrong about a stock, but no one substantial seems to be stepping up (with share purchases) to say why they are right and the project is going ahead and buying more.

    the north american long funds nor the directors have increased their exposure.

    a cash box with a deferred project is worth 20c per share, assuming they have $100m left.
 
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Currently unlisted public company.

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