SYS - Syngas Limited

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

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!

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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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.

Trader Paul said:

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




I

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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

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.

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.

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

Miner said:

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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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 .

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.

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?

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.

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

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.

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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

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

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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

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

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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

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.

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.

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.

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.

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.