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Well now this is the Pink market so I wouldn't say you're wrong. However, I can't say for sure that you're right either. So with the little money I have invested here, I'll wait. Patience prevails.
And another week comes and goes with no updates. I guess waiting is not the most difficult thing one could do for money. Maybe next week...
Man, do I ever hope you're right about financing being the next big MMEX news! That would be awesome.
Opinions do have value, but they are merely opinions not fact. Until they become facts. Then they cease to be opinions. I believe my opinion will be fact, you believe your opinion will be fact. You're right about one thing, a material event, filed with the SEC will tell which opinion, ultimately, turned out to be fact. On that we agree. Imagine that. We should know something "shortly." IMO
No words are random. Even "off-take with a super-major energy and trading company" is not a random collection of words. Diction is very important when communicating officially with things like Shareholder Updates. One needs to know how to read them with understanding, and in the context of MMEX efforts over the last couple of years. 70% of all the refined product is pre-sold. Banks like that kind of stuff. And - purchase agreements for the other 30% of produced product (naphtha) is in negotiations with the only remaining item to be decided is where to deliver it. Banks will certainly like that too. IMO
Thanks for proving my point.
Precisely. That's why he deflected on providing proof. There is none. This is the first time Jack used those words. Others have used them but not Jack. And he's the only one that knows. I also read that refiners are heading for a real crunch with regards to finding the heavy crude that their refineries can currently refine. Not MMEX. It will be set up for the light stuff. I guess that's why they have the low surfer diesel they can produce sold even before they make it. Genius.
To conclude the earlier healthy debate, I think its fair to say Jack himself has never officially made reference to the possibility of financing information being communicated "shortly" prior to this most recent letter.
Lol. Oh, I've done my DD. I made a statement. You refuted it. However, your refutal was mere opinion and not fact. Thanks for clearing that up.
Do you have proof of the "nearly identical" comments you mentioned? I don't recall them and I don't have previous letters. Are you suggesting that Hanks stated "shortly" before and didn't produce?
"we continue negotiations on our potential debt and equity financing. We hope to be able to issue more information shortly."
I wonder what the "more information" will be.
I wonder when the "shortly" will be.
Who knows? However, and I stand to be corrected, I don't think the CEO has officially made a statement like this before.
Shareholder Update, May 30.
IMO
Who cares. Its only a 20 dollar over the counter type of permit as per jmjjw so if its expired, just get another. Easy peasy.
Only 56 mil OS too.
The PPS is ridiculously low for a company with so much potential. All the things already achieved with regards to land, permits, off take agreements etc.. This should, and will be, much higher. IMO
If jack is telling the truth. If MMEX actually has purchase agreements for almost all the product now, than financing is a no brainer for a bank... everything pre-sold. The big question is, is he telling the truth? I can't think of any verifiable reason not to believe him at this point. The time frame has been off terribly, but its still a going concern. Everything is current. So make up your own mind, but if Jack pulls this off, it will go down in history as one of the few pinks to be a real, very profitable company.
For those who believed this was a scam... you've been scammed.
IMO
Volume!! 66 mil in the last 5 min
Someone should tell Pilot Thomas that the diesel they agreed to buy (100% of what MMEX produces BTW) is not saleable. They agreed to buy something that is not saleable. I think there is a paradox there somewhere.
Why would a real oil refinery company want to build a refinery here? One of the biggest argument against MMEX was that if a refinery was needed, a real oil refinery company would build one. Now, as you say, one is. Very interesting. MMEX was and is ahead of the curve here. We already have permit, land, etc.
Please explain.
Right lol. Forgot my time zone. Well, right after the market opens. Coincidental or not. Still good timing.
Session Six: ModularRefiningUnitsandProjectFinance
Manufacturer’s Perspective
Cody Summerhays, VFuels Oil & Gas Engineering
Project Developer’s Perspective
Nabil Katabi, MMEX Resources Corporation
Just before the market opens. Nice timing, coincidental or not.
Session Six: ModularRefiningUnitsandProjectFinance
Manufacturer’s Perspective
Cody Summerhays, VFuels Oil & Gas Engineering
Project Developer’s Perspective
Nabil Katabi, MMEX Resources Corporation
" no one will finance... " is not a fact. Its an opinion, and one that you're entitled to. As for the PPS, I wish it was much higher. However, it has no bearing on financing. It is about financing period. If MMEX gets financing the PPS will respond accordingly. BTW, I wonder what time it is in Cyprus right now. I'm guessing late afternoon. IMO
Well if the the next few months are like the last few, much will be accomplished. The last few months have been very fruitful with everything in place but financing. Its ready to go in every other respect. MMEX says in their latest communication - "We have been engaged continuously with our Lender since March 2018. As a debt fund they have proposed to provide the debt funding of our total costs in the range of 70% to 80%." Upon financing, this will be quick out of the gate. Everything else is ready. Now maybe they won't get financing, but if they do... .
What we do know is that MMEX is presenting in tandem with Vfuels (the company chosen to build the CDU) on the topic of project financing and modular units at an oil and gas conference in Cyprus that has, and has had, some very large and reputable companies in attendance. Draw your own conclusions.
IMO
I hope he does get a good rest because the next few months are going to be very busy; building a refinery and all. I guess the borehole samples, along with the land, easement, roads, rail upgrades, permits, etc. will all come into play if MMEX announces funding. I admit, if they don't announce it in the near-term after presenting about project financing with VFuels tomorrow, it will be too bad. But hey, they do have all the "ground work" completed so who knows. And, they are presenting with VFuels tomorrow about project financing. IMO
Now that's good advice. Do your own DD please.
They we're at no bid before, and went to .0004 a few weeks back. Not a bad gain for someone (unfortunately a loss for others). The OTC never ceases to amaze me. Good time to buy and sit it out.
OK, strike them from my list. I do think Hurd spent time with MMEX and mentioned them favourable at some point, and I think the town had something to do with approving a ROW, but I'm a lover not a fighter. Its still a good list without them.
And don't forget all the "legitimate" companies and people that are in on the MMEX scam too; Vfuels, Saulsbury Industries, the town of Fort Stockton, The Pioneer, Rep Hurd, The Axelrods, Trinity, did I miss anyone? Oh, somebody said they would buy all the diesel... they're scammers too. Pilot Logistics I think. Yup, non of those who I just mentioned are legit. All scammers just like MMEX.
Really?
Not!
IMO IMO...
How many times have I heard that? Over 200 mil sold yesterday. .0001s maybe, but that's not dead. All ya gotta do is wait for it.
Valiant effort, but in all of what you just said, I see no proof that MMEX will not build a refinery. What I do know for certain is that MMEX is presenting along with Vfuels in a few days at a major oil and gas symposium. And, they will be presenting under the topic of "Modular Refining Units and Project Financing." Maybe you're correct in saying MMEX will never build a refinery. However, until there's proof to substantiate your opinion, I will stick with my opinion that MMEX will indeed build a refinery. Oh, BTW, they already have off take agreement in place which is a good indication a refinery is needed. Also my opinion.
So he wants to be perceived as a loser to the whole oil industry? This is why he's presenting with Vfuels? I guess it could be the reason, but not smart in my opinion. Someone who can pull off one of the biggest scams ever - while reeling in folks for support and photo ops like Senator Hurd, the Town of Fort Stocton, the Pioneer, Vfuesl, Saulsbury, and the list goes on - would be smarter than that. IMO.
Are we in for more of the same this week?... nothin? Probably. Hey, I own a huge oil field and I'm looking for a company to service it. I don't really care how much it costs, I just want you (Elite Group) to do the work and send me the bill. Terrence, please PM me here for more information. Of course I will require some information about your current business operations before we proceed, but its just a formality. Just have some basic ELTZ business information like if you're still in operation etc., ready when you contact me and the job is yours.
I sense my truthful comments are causing some anxiety. Here's some more truth. I don't know for sure if a refinery will be built. All I can do is talk about what I know. What I know is that MMEX is presenting with VFuels at an international conference with many oil industry players present. That is confirmed. The conference is this week. Also confirmed. My question is why? Would MMEX pout themselves out there like this as a failed company? I think not, but its merely my opinion. Maybe others share this opinion. I think its worth talking about.
Well, that would be a PTL moment for sure!
If I was MMEX and didn't get financing I think I would just fade away. Wouldn't celebrate it that's for sure. Wouldn't make a Power Point about it and tell the oil investing world about it at a conference in Cyprus. Talk about your anticlimax moment. Nope, I would try and forget about it, and hope everyone else does too.
Perhaps someone would have some information on why MMEX and Vfuels are presenting right after each other about financing projects in general. I'm pretty sure it won't be about MMEX financing, but it still should be good information. Maybe MMEX is going to Cyprus to be an example of how not to get financing. That would be a good reason to go there. "Hey everyone, we're from MMEX and we came all this way to tell you about how we failed at getting financing." That's plausible I guess
IG, I'm still waiting. This is something I'd really like to know. Many others would too. Hopefully your evidence that MMEX will never build a refinery if fourth coming, and thanks in advance.
Do you know for sure that he's not? If you have information to the fact, you should post it. It would be valuable information.
I believe you and wish you the best. With that I'll truly bow out this time. I'm starting to get on my own nerves. Time to go. All the best.