# SYS - Syngas Limited



## springhill (1 December 2008)

Hey guys Gulf X (GLX) has officially changed its name to Syngas Limited (SYS) on the ASX today. Joe, as you did with Metex (MEE) now Carbon Energy (CNX), you may have to close the old GLX thread and put a link to this one.
P.S. GLX was my tip in the December tipping comp, if possible please change the code to SYS
Thanks in advance


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## anindya_becit (26 December 2008)

So whats happening with this one? No more discussion after it changed its name??!!

There was discussion when it was GLX ..... would be great if ppl start talking about this one!


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## Trader Paul (26 December 2008)

Hi folks,

SYS ..... nothing to get excited about here, right now.

Our astroanalysis suggests, that we may get a lift in April/May 2009,
then revisit current lows, in August 2009 ... will be alert for a serious 
low, around 18082009, in particular ..... !~!

.... then, the first positive cycle in the recovery, around 14092009 ... 

Happy trading in 2009.

have a great day

   paul



=====


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## redback (17 February 2009)

Hi guys, looks like I was right after all, total sp collapse, no wonder, this bunch of market sharks greed has ruined shareholders--Merril Gray and Assoc--18 million, D the Dropkick 17 million and want millions more in free performance shares, what they need is a good kick in the rear end and the market has given them one, I guess the only consolation for smashed shareholders is that they have lost heaps more, these people are a joke, insatiable greed went out of fashion a year ago.


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## Miner (17 February 2009)

Trader Paul said:


> Hi folks,
> 
> SYS ..... nothing to get excited about here, right now.
> 
> ...




it was only four months or so Syngas was looking for a great project manager and then the market was hot so they reduced the specification for a project engineer. I sensed trouble then. The money offer for the role was half the market rate. It doubled my suspicion about this company being driven some head less chook. 

THe latest result confirmed it.
DNH

*DearTrader  Paul*

Thanks a lot for your astro analysis posting

Could you please provide any tracking to advise ASF forum against your prediction on astro analysis and actual happening ? 

Otherwise like any rumour or statement this astro analysis should be qualified for publishing comments without supporting with facts

I have nothing against astro but good to keep every one on the same track (brokers like Merryl is excepted )

Notwithstanding you are a great contributor and please do not discount that great services for us

Regards


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## redback (3 March 2009)

the only thing this bunch of market parasites will mine is the market (they already did a very good job of that) their shareholders have now been ruined and now not a word from this bunch of WA shonky's, what a scam.


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## Dukey (4 March 2009)

redback said:


> the only thing this bunch of market parasites will mine is the market (they already did a very good job of that) their shareholders have now been ruined and now not a word from this bunch of WA shonky's, what a scam.




Ahhh redback.... 
.. so should we assume you don't much like them anymore??
better go back and buy CXY mate!


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## Miner (5 March 2009)

Miner said:


> *DearTrader  Paul*
> 
> Thanks a lot for your astro analysis posting
> 
> ...




kNOCK KNOCK 

WHO IS THERE

IT IS ME

ME WHO ?

MINER

what is your problem Miner?

I am looking for TRADER PAUL . Not sure he has got up from deep slumber or  OR STILL UNDER  SLEEP MODE  TO RESPOND TO THE REQUEST .


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## redback (1 April 2009)

Well!, that was one pump and  fearsome dump today, wonder who it was?, was it the 14million issue taker, or was it you know who?, one thing for sure, someone pumped this dog for an exit, I was amazed at the speed the dumper hit the prop at, went right down the list to get to the 2.6 million prop bid, in a big hurry too, thats about 14-16 million in a few days, any volume will do, what an absolute dog this has become.


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## redback (2 April 2009)

Just saw this--


Default Re: VRE - View Resources
Sales Process

At the date of this report we had received three indicative offers for the plant and equipment and all mineral assets of View Gold. We have been liaising with these three parties for the past several weeks in order to attempt to finalise formal offers that can be put forward to Austral-Asia Resources and Infrastructural Resources Pty Ltd (“AARII”) (the secured creditor of the View Group) for consideration and if thought appropriate, acceptance of the same.

The formal offers are expected to be finalised and submitted to the Deed Administrators within the next seven days. However, given that none of these offers have yet been presented to us, we are not in a position to disclose the identities of the interested parties or the commercial terms of the expected offers.

Status of the View Group’s DOCA’s and Supreme Court Application

Each of the View Group’s DOCAs remains on foot. However, on 17 March 2009, a creditor of View Gold expressed concern over the status of the DOCAs given that certain key conditions precedent to completion of the DOCAs had not yet been satisfied. In view of the concerns raised, the Deed Administrators applied to the Supreme Court of Western Australia for orders pursuant to section 447A of the Corporations Act 2001 (Cth) confirming that the DOCAs remained on foot (“the Application”). The orders sought in the Application were necessary to ensure, amongst other things, that the control of the View Group did not return to the hands of its directors (this being undesirable having regard to the obvious insolvency of the View Group) and that the Deed Administrators may proceed with the sale of View Gold’s assets in their capacities as Joint and Several Deed Administrators of View Gold.

The Application, which was heard on Tuesday, 24 March 2009, was successful and the Supreme Court of Western Australia confirmed that the View Group’s DOCAs remain on foot.

For further information regarding the current status of the View Group and the abovementioned Court orders, please refer to the Status Report to Creditors and Circular to Creditors published on 26 March 2009.
Next Milestone and Estimated Timetable:

* Sale of View Gold Pty Ltd’s assets
* Variation or termination of the View Group’s DOCA’s

Likely Outcome for Creditors and Timetable:

Given that View Gold’s assets have not been sold to date, no distribution to creditors of the View Group has occurred. We intend to progress the sale of View Gold’s assets as soon as practicable. We expect that a formal offer will be received within the next seven days and executed shortly thereafter, if approved by AARII. In the event that the offer is approved by AARII and accepted by the Deed Administrators, we will furnish creditors with further details regarding the offer, including the purchaser’s name, consideration payable and other key terms of the sale, as well as the dividend estimate (if any such dividend will be payable) to creditors of the View Group. Based upon the indicative offers that we have received to date, it is unlikely that unsecured creditors of View Gold Pty Ltd will receive any substantive dividend (if any dividend will in fact be payable).

No wonder this dog is tanking--guess who was the boss of that dog too?--no need to guess, it's this parasite again posing as a chairman with yet again millions of his free shares for vending in his interests, when will people learn?, it really is getting ridiculous that these people can still operate with impunity, and don't even start me on Merrill Grays group of freebies either, these people are despicable, notice the complete silence from these parasites lately?


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## redback (7 April 2009)

Well, despite the detailed announcement today,  this dog did absolutely nothing, I wonder who dumped over 3 million the other day?--wouldn't be the flea of a chairman would it?--or maybe the issue taker at 14c--that big dump finished this dog off for good.
I got caught good and proper with this dog.

Hey Merrill and Derek the dipstick, your millions of further free performance shares look a bit more than shaky these day's, you reckon you deserve them?--I bet ruined shareholders don't think so.


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## redback (8 April 2009)

I see the 300k prop at 2.8c decided he didn't really want them after all , dropping down to 2c, this dog of a company is history as long as these dodgy directors remain, performance shares?--you have to be joking--eh Derek and Merrill?, so much for the big buyer at 16c--that was a complete rort, wonder who was behind it?, I think I know, but ASIC wouldn't act on my complaint, which is no surprise anymore, they are actually allowing rorts like this to operate with impunity on a daily basis , absolutely useless.

ps., they should have renamed this dog--SYPH, total write off this one, totally avoided by the market like the plague or pox


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## springhill (8 April 2009)

redback said:


> Well, despite the detailed announcement today,  this dog did absolutely nothing, I wonder who dumped over 3 million the other day?--wouldn't be the flea of a chairman would it?--or maybe the issue taker at 14c--that big dump finished this dog off for good.
> I got caught good and proper with this dog.
> 
> Hey Merrill and Derek the dipstick, your millions of further free performance shares look a bit more than shaky these day's, you reckon you deserve them?--I bet ruined shareholders don't think so.




OK redback we get the point, ur views on this company are well known to the point of ad nauseum. You got burnt, big deal, the question is, have you learnt something from it? Maybe your research wasn't up to scratch.....
Time to get over it mate


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## redback (8 April 2009)

springhill said:


> OK redback we get the point, ur views on this company are well known to the point of ad nauseum. You got burnt, big deal, the question is, have you learnt something from it? Maybe your research wasn't up to scratch.....
> Time to get over it mate




You burn't big time too??, what a rort that bogus 16c offer was eh?, pity ASIC wouldn't act on my complaint, it was so obvious that I didn't realise I was being rorted, if our useless regulators had acted we both would have been a lot better off, this horror story should have been suspended right back then


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## springhill (8 April 2009)

redback said:


> You burn't big time too??, what a rort that bogus 16c offer was eh?, pity ASIC wouldn't act on my complaint, it was so obvious that I didn't realise I was being rorted, if our useless regulators had acted we both would have been a lot better off, this horror story should have been suspended right back then




Yep sure did, but hey no-one to blame but myself, you live and learn. Putting them in the bottom draw to be honest not worth selling atm. Trying to look on the bright side it will be a useful tax deduction when i sell my winners


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## Datsun Disguise (9 April 2009)

So rather than speculation about director intentions how about some analysis of the PFS just released?

Do the figures add up? Given the 2.28bn capital cost what is the true break even point in terms of Price of Oil. What are the funding options? $2.28bn is a lot of money, where will it come from?

These are the things we should be talking about.


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## Datsun Disguise (5 June 2009)

Just had another look at SYS today after they announced an offtake deal for the sulphur produced as part of the clean diesel process. Metals X subsidiary "Hinckley Range" will be using the SYS supply to fill about 15% of the requirement for their Nickel / Cobalt project. The deal was for supply at spot prices -3%. Sounds reasonable. With oil now at $66 a barrel (equivalent to project break even point) and demand for oil currently depressed due to the GFC this could be a nice time to take a spec position in SYS... haven't jumped in yet, but the time might be right.


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## Datsun Disguise (12 June 2009)

Little interest in SYS around here? - maybe scared off by redback?

The last announcement was about an exploration rights swap with a neighboring permit - it allows SYS to access the extension to their already JORC defined resource. They reckon it has the potential to extend project life to 40 years and reduce the operating costs down to the low $30 per barrel. With oil slowly appreciated ($72 bbl now) it won't be long before the project starts looking attracting interest again. These guys got hammered over the last while (rightly so given the position of the economics with oil at $40 a bbl) but my 2 cents says that they'll be off and running again with the POO as the 'green shoots of recovery' turn into the real thing and POO takes off again.

Noticed what looks like a bit of accumulation now - very quiet though, got my parcel and now watching with interest.


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## gorm (12 June 2009)

dont know if those of you following sys are aware of a new technology
being investigated by regal resources (rer), which allows the ucg of lignite
deposits like sys's rather than having to mine it- thus reducing capital and operating costs dramatically, if it is proven to work!,  they are testing later this year



as always dyor.


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## Datsun Disguise (24 August 2009)

I've been watching some accumulation in SYS over the last week or so and today it has jumped, although on modest volume.. THis is one very unloved share, but perhaps POO being north of $70 a barrel is helping to re-focus attention? As I posted on ther BLK thread, I can't see CTL not being a significant part of our future transport fuels landscape. The bopd projections are large, as is the investment required to build the plant. But it is important to remember that this is not unproven technology, it's already being used in numerous places around the world. I reckon SYS and BLK are both ones to not just watch but take a long term punt on as well.


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## Datsun Disguise (24 August 2009)

The speeding ticket reponse today was interesting, mentioned numerous agreements being negotiated - could just be a bit of ramping, but perhaps they are getting close to some significant offtake agreements. If they have these agreements in place then the financing for the project will become much more likely, sp will improve and therefore any cap raisings will have a smaller dilutive effect. All sounds easy in theory!

Lets see..


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## Datsun Disguise (26 August 2009)

Something is definitely up - this has been a sustained rise that has now broken through a couple of resistance lines without even hesitating - the volumes not high, but I think that could point to some very confident buyers who aren't concerned about the risk. Some fish swimming against the flow - but what bait are they chasing??? I don't think the rise of the POO could explain it, and given the volumes there's no reason why you couldn't just accumulate around the 3 - 3.5c range over time - unless time is runnig out..

All specualtion on my part mind you, but something is driving this rather strange activity...

Me thinks news coming....


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## Gspot (26 August 2009)

Datsun Disguise said:


> I've been watching some accumulation in SYS over the last week or so and today it has jumped, although on modest volume.. THis is one very unloved share, but perhaps POO being north of $70 a barrel is helping to re-focus attention? As I posted on ther BLK thread, I can't see CTL not being a significant part of our future transport fuels landscape. The bopd projections are large, as is the investment required to build the plant. But it is important to remember that this is not unproven technology, it's already being used in numerous places around the world. I reckon SYS and BLK are both ones to not just watch but take a long term punt on as well.




Good Investigating DD.
I've held through the ups and downs, hoping that this is one way to tackle the 'we're running out of oil' problem.
As they have everything pointing in the right direction, except money, wouldn't it be nice for BHPB to give these guys a hand, and in reply BHPB have the fuel and power to run the huge Roxby Downs expansion??????
Or am I just dreaming


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## Datsun Disguise (26 August 2009)

Hadn't expanded my thinking that far - but it makes sense doesn't it - wrap up the offtake agreements and the financing agreement all in one big package. I like your thinking Gspot, perhaps an email to Jac Nasser alerting him to this mutually beneficial arrangement may be in order!

But maybe he is one step ahead of us - here's hoping so....


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## leigh_munro (17 September 2009)

whoa... someone dumped a big parcel of these today...  10,005,050 @ 0.05....

I keep thinking these are going to take off again but they seem to be going nowhere....


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## beatle (27 October 2010)

SYS has made a huge announcement regarding its coal to liquids project based on the Clinton coal project in South Australia. 

It has signed an MOU with CNEEC (Chinese govt group) to finance up to 85% of the development, with other strategic co-operational arrangements in place as well. 

For a company with a market capitalisation of only $3.2 million (as of yesterday) you can imagine how the share price reacted on its opening this morning, up from 1.4 cents to a max 4.2 cents. This is a company maker announcement and I'm sure once the market realises it SYS will be completely re-rated upwards even from this high of 4.2 cents (thats a market cap of less than $10million!).


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## beatle (27 October 2010)

By far the best performer on the ASX today by a country mile, up ++100% from 1.4 cents to 3.3 - 4.0 cents (depending on what minute you check the price!), volume of more than 23 million after just 35 minutes trading!

But the key point of my post is that with only 230 million shares on issue, and a current market cap sub A$10 million, its a company making announcement of huge proportions. Its Clinton coal to liquid project in SA is an immense project, so anyone getting into the company today will be buying a strategic position for a huge future profit IMO!

I can see SYS market cap climbing to over $100 million in the coming year alone (of course there will be share issues to help that process, but there is also going to be huge capital appreciation as well)!


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## Datsun Disguise (27 October 2010)

This is the sysngas thread beatle.

WOW 

What a day - as beatle said in the other sys thread 230m shares on issue 0 sitting at around $11m market cap now - more to go on this announcement - must be worth 20 - 30 million on this. this is like an oil explorer confirming that they have a 15,000 barrel per day confirm production test - just that the commercials are a few years away. 

lets see 15,000 bboe per day = 5 475 000 a year = *$50 profit per barrel 
= $273,750,000 pa profit

Divide by 230m shares = $1.19 per share earnings 

x13 = $15.47 a share.

Yes I've been holding a while!! Glad I did!!


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## beatle (27 October 2010)

Hi Datsun_Disguise, I really love that analysis of yours, I would be happy to sell out my holdings at say 50% of your estimated $15.47/share Lol, but even if it doesn't get there today that announcement is helping SYS get much greater market credibility after being in the doldrums for such a long time! I admit to being a long time holder that lost interest in the company a while ago, not for the project that I believed was conceptually very exciting, but more that I lost belief that SYS could bring in a major to take it towards the end game! I have now changed my mind with this announcement!

The trading whilst very brisk, with turnover almost at 100% of shares on issue (volume after 3 1/2 hours of trading being 205 million shares, totalling $9.5 million in value!), and up around 235% to about 4.7 cents. I'm convinced that we have not seen the last of this activity. I can imagine SYS putting out some news soon regarding certain investors taking up positions, each of those announcements will add layers of credibility to this great announcement today.

I believe therefore that SYS remains a good investment for the longer term, knowing that it will slowly add to todays news with more positive company supporting announcements. Of course its still speculative, but for a company with a market cap of just over $10 million at 4.7 cents its got piles of room upwards to move!


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## Datsun Disguise (27 October 2010)

hi Beatle - it may be a little optimistic as I'm sure that we will see some dilution in order for SYS to raise their 15% minimum. What is good news is that this doesn't seem to be an equity deal - sounds like a build and provide access to finance - hopefully this is in the form of loans and not massive share issues - that's the major risk to a very very healthy return on this (as opposed to a very healthy one).

Anyway I'm excited and expect this to move up to 10 c over the next little while - reminds me of AVB and their move from 1.4c up to 23c not long ago!

You are right - this announcement looks a lot like a company maker in my view. I think once people get their heads around the size of the project they'll quickly see the $10m market cap is just ridiculous - there are exploeres out their with nothing but dirt with higher market caps than that. I might take some time to do a company summary this week for ASFers to digest. I promise to keep it real.

Final note to new SYS followers - Gas to Liquids is not 'experimental' or only posisble in a lab - it is an existing commercial technology being used around the world. The clinton coal has been analysed and confirmed as high quality lignite for the purpose of GTL. Time to sell the house befor ethe bubble bursts and get on to this pony! (still excited)


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## beatle (28 October 2010)

HI Datsun_Disguise. I look forward to your summary when you get around to it, as long as its balanced in terms of any valuation etc then it will get a much better longer term reception from anyone who reads it I believe.

I hope that we get some follow on announcements to the market related to aspects of the terms of that MOU in coming days/weeks. My past experiences with SYS has been that the announcements are very exciting at the time, promising much but only to fall away over time so that the market slowly becomes numb to the future announcements. Since yesterdays announcements were company making if they can follow through with it then they must do that, follow through.

I would like to see another player take up a position on the register of SYS, as a placement, possibly at a premium, that way you know someone is serious. If that player is a Chinese group even better! Although I'm interested to know about whether such an equity deal could be made at the moment with the current aversion to overseas groups taking hold of Australian companies (ie SGX for ASX as an example) by political groups (that is no political commentary by me, just an observation!) - of course SYS is hardly the ASX with respect to the business that it carries on and intends to carry on with, but then again significant diesel production must be considered a strategic national asset once in production!


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## beatle (28 October 2010)

I've had a chat with Merrill regarding the announcement yesterday, particularly with regard to the role of CNEEC, being that its apparently primary role is to act as an engineering EPC contractor. I wanted to clarify whether it really had the capacity to assist SYS towards it getting funding in place for the project. Merrills comments are most instructive, and please excuse me if I have misrepresented her comments, but I don't think so:

1. CNEEC does actually undertake the role of engineering contractor, primarily on an EPC basis, but in that process undertakes a review of projects, whether they be China or overseas based, that confirms project viability and attractiveness for investment in the future by effectively a Chinese state wealth fund, which has around US$40 billion for investment in such projects. The aim of CNEEC in this SYS project therefore is to initially vet the project (already done), then prepare an alliance (in process with the first step being this MOU announced yesterday), then develop the engineering arrangement coupled with finance.

2. As a precondition, as denoted in the announcement, SYS must bring to the party investors capable of bringing in funding on behalf of SYS for the first 15%. SYS is currently in discussions with certain overseas investors, who may not be Chinese (more likely European) who will become involved with the project through an investment in/with SYS.

I can only conclude that the first announcement of yesterday will be followed up with some interesting developments in the coming weeks. So whilst the trading may continue at its own pace and course of share price, I believe there is a good reason to retain your shareholdings on the basis that you might be surprised, pleasantly, with some extra news flow sooner than later....

On that basis, I am holding despite the share price coming off somewhat today.


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## Datsun Disguise (28 October 2010)

Excellent research and post Beatle - it's the ones like yours above that make logging on to ASF worthwhile.

Today's close values SYS at a little over $7m. I mean come on. Maybe some unwinding of positions made above the 4c mark today, if so it should run up again tomorrow. Let's see.

Summary will have to wait until next week - fully booked until monday now.


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## beatle (29 October 2010)

Thanks Datsun_Disguise, and I very much look forward to your commentary and analysis early next week. As you say its amazing to think that SYS sits on a market cap of around A$7 million, its got some very exciting ingredients to make a smallish speculative investment turn into the best retirement fund anyone could ask for:
1. A huge project that has an immense future with robust economics, based on a 30 year plus coal resource convertible into diesel;
2. Alignments with large overseas engineering groups (not just CNEEC!) assisting with the development of the process and engineering, on already tried and tested technology;
3. Associated groups (including a Chinese state wealth fund) having an interest to assist with the funding of the project, with product take off;
4. Current discussions with overseas groups to either take up the first 15% of funds in the project, or by way of equity in SYS;
5. An extremely discounted share price and minimal shares on issue (230 million), resulting in a great entry opportunity at low cost per share!

These ingredients mean that its got the potential to be a real money maker for those prepared to stick it out. You don't even need a huge investment to potentially get a huge return on your investment!


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## anindya_becit (6 December 2010)

can anyone see any future holding onto this?I have been with SYS for long...not much yet.Any good news/speculation?


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## Atomic (6 December 2010)

A recent ann about seccuring future supplies of non food biomass from the local farmers.

maybe a way of some income for the bio diesel process earlier than expected , still a lot to be done yet 

im holding and will buy in further under 2c
tuck em away for retirement when diesel is $300 a barrel


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## Datsun Disguise (3 January 2011)

Happy New Year SYSer's.

Hope all are well, at any rate better than SYS's share price at the moment! I think 2011 will be SYS's year. As discussed above, the key piece is achieving a funding arrnagement for the 15% or even part there of required as part of the CNEEC MOU. 

The investment required to do this is significant at around $3bn so it is a decent chunk of change to ante up. The more astute among you would have noticed that there's been a lack of econmic growth around in the US and Europe for a little while which has caused the price of oil to site at around $80 - $90 a barrel for some time. If we concentrate on the key step of securing an investment partner for the clinton project it will depend partly on the major economies beginning to recover next year. Reason I say this is that should growth begin to normalise in the US (possible) and Europe (hmmmm) the price of oil will again move up to $100+ a barrel as demand increases - talk will come back to alternatives to conventional oil reserves and projects like Clinton will again begin to look pretty good. 

The risk is that Europe falls of a cliff and takes the banking sysem and global growth with it. In that case I'll just be putting mine in the bottom drawer and hoping that the company survives the storm.

Those are my thoughts on SYS for this year - if the planets align and 2011 is the beginning of the global economy recovery (form your own view on that) then I think we'll see SYS (and potentially Blackham) receive a significant re-rating. Good luck, all and have a great 2011!

PS - I mentioned doing a summary a short time back but I reckon if you read this thread and a couple of company announcements you'll get the idea - plus beatle stole my thunder a bit with his/her post #34...  I'm over it now beatle, my therapist thinks so anyway....


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## Datsun Disguise (19 January 2011)

So, given the 50% pus movement in share price over the last 24 hours and the 100m + shares traded combined with the lack of any comment by ASFers it seems no-one is on SYS?

You all know I am, I wonder what the cause is - could have been the announcement re the pre feasibility study announced ofr a biomass to power project.   The main benefit to this is some positive cashflow that will take the company through the dev period of Clinton without any cash raisings to keep the lights on. that's positive news but shouldn't have the impact that it seems to have had. So is it possible a material announcement re Clinton is coming???

Waiting for the speeding ticket and the response to it....


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## Datsun Disguise (28 February 2011)

Heads up guys & gals - pretty poor announcement this morning. The clinton project sounds dead - apparently the processing of the salty clinton coals makes the project forecast less favourable - reading between the lines they cannot proceed without finding a new way to process these coals. WTF - i have followed SYS pretty closely and I don't ever recall reading about high salt content in the coal.

Sounds very much like they are now back to sqaure one - talking about processing straw or buying coal from an exisitng mine.

How did it get so advanced only to find that the coal is not suitable for CTL?  Merryl's got some explaining to do.


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## Atomic (28 February 2011)

Crikes batman, 
was gettin itchy feet with this one and sold out last friday!!!!!
only time ever i beat the starters gun 

Needed the funds to support another company. is this bad news enough to kill the company ?what your thoughts Datsun.


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## Datsun Disguise (4 March 2011)

It doesn't look that way at the moment does it - share price barely reacted to what I reckon is pretty awful news. But then again, it's not as if the company is valued all that highly at approx $6m.

If you read the announcement all of a sudden they are back at the strategy development point, my thoughts are that SP should be back in the teens. The discussions regarding a 'cornerstone investor' that were supposed to happen in March were for a 15,000 bopd ultra clean diesel plant - I don't think those same fish will be interested in a bit of power generation made from straw (not much energy content in straw...) Buying coal from an existing mine? Makes the numbers look worse and you've got to find an appropriate mine, compete for supply with coal hungry Asia. Much less stability then when you are digging up your own coal from your own back yard....

I had such high hopes for SYS, but I fear they were misplaced...  If they can overcome the salt content of the coal then I'll be interetsed again, as will the c/s investors, but until then I don't think there's much to see.


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## anindya_becit (7 March 2012)

Guys any thought/update on this one???

Been sitting with this one for long. Nothing positive yet. Any comment/suggestion/information ?

Cheers!


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## springhill (11 September 2012)

Here is where some of our carbon tax funds will be potentially get pissed into. :flush:
All aboard the gravy train! Next stop, LA-LA land.

*CORPORATE*
1. Cash-in-Bank at 30th June 2012 was $701,000. The Company has no debts.
2. On 1st June 2012, under section 708 of the Corporations Act 2001, a 5,000,000 ordinary share offer, at $0.10 cents per share, securing a 40% share in BioSyngas Pty Ltd (BioSyngas) was launched. BioSyngas is currently a wholly owned subsidiary of Syngas. This offer is expected to raise A$500,000 to complete work on the Bomen Project Phase 1, bringing it to construction ready stage.
3. Post the 1st July 2012 launch of the *Clean Technology Innovation Program*, Syngas has commenced preparation of an application for funding through the Program.
4. The Company positioned to review well funded new projects as they come to hand.

*BIOMASS TO ENERGY/CLEAN RENEWABLE ENERGY*
Significant progress took place during the quarter to extract value from past clean energy/renewable energy investments made by Syngas. The assets held, projects being progressed and strategies behind BioSyngas has been described for investors on the new BioSyngas website (www.biosyngas.com.au) and in the Information Memorandum supporting the capital raising which is underway.
BioSyngas’ pipeline of projects under development and their latest developments are:-
a. The 6 MWe Bomen Power generation and supply Project in Wagga Wagga NSW. A Heads of Agreement (HoA) covering power supply to Teys Australia’s Wagga Wagga beef processing plant is being worked towards.
b. A 3 MWe power generation and supply project proposal was presented to a Northern Territory plantation owner during the quarter. An HoA over feedstock supply, within the favourable commercial context for the project is being sought.
c. Other projects are also under development.

*Extracting Value and Positioning for the Future*
The Company’s focus in the June 2012 quarter was to identify and progress opportunities to extract value from Syngas’ past investments and position the Company as favourably as possible for the future.
This focus was progressed in two ways:-
1. By separating the assets held within Syngas Limited, within two wholly owned businesses. That is:
- BioSyngas Pty Ltd, and
- Syngas Energy Pty Ltd
The former holds Biomass/Renewable/Clean Energy assets and projects and the latter is Clean coal technology and project based. This has been done to facilitate new investment into specific areas of the Company.
2. Syngas is open and well positioned to review new, well funded projects as they come to hand and to bring them into the Company’s structure


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## springhill (3 April 2014)

I haved revisited some of the old UGC companies in many, many a month.

It seems as though Syngas will be consolidating at 1:200 and the capital raising to enter the quarrying & civil engineering business. The cap raising will be seeking $20m with 20m shares being offered at $1.00

It seems as though there are a few complicating factors, as from my very brief glance over, the business model will work more as a partnership rather than a takeover.

http://www.asx.com.au/asxpdf/20140124/pdf/42m98skjqkhq9l.pdf

The Environmental Assessment document “Modified Ardmore Park Quarry Project” stated in the summary “The sand Resources targeted for extraction has been estimated as 6.3 million tonnes and the basalt (hard rock) resource estimated as 9 million tonnes (92% of which would be suitable for production of quality construction or road building materials).” 
The general conditions covering this quarry are normal conditions expected under current social and environmental responsibility requirements for any development covering extractive industries in NSW. 
Schedule 2 Condition 5 should be noted “Extraction and processing operations may take place until 30th July 2039”.


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## System (24 August 2020)

On August 20th, 2020, Syngas Limited (SYS) was removed from the ASX's Official List in accordance with Listing Rule 17.11, after security holders resolved to remove SYS from the Official List.


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