Synthesis Energy Systems Signs MOU with Hulunbeier Tianfu Energy for City Gas Project
Exclusive Agreement for Supply of SES Technology, Equipment and Services
HOUSTON, Oct. 23, 2013 /PRNewswire/ -- Synthesis Energy Systems, Inc. (SYMX)("SES") announced today that its subsidiary company, SES New Energy Technologies (Shanghai) Co., Ltd., has entered into a Memorandum of Understanding ("MOU") with Hulunbeier Tianfu Energy Co., Ltd. ("Tianfu"), for the supply of SES' gasification technology, equipment and services to its 1 billion normal-cubic-meters per-year city gas project to be built in Hulunbeier, Inner Mongolia, China.
The project is to be located in the Xie'ertala Project Area of the Hulunbeier Economic and Technical Development Zone. Tianfu has completed the required Feasibility Study Report and Environmental Impact Assessment based on using SES' gasification technology. The project has also received approvals to proceed from both the Hulunbeier City Development and Reform Commission and the Hulunbeier City Environmental Protection Bureau. The total project scale is a planned 1 billion normal-cubic-meters per year at an estimated cost of 3.45 billion RMB and is to be built in phases. The first phase is planned to be 330 million normal-cubic-meters and completion of phase one is estimated to occur approximately 18 months after construction starts.
Tianfu intends to use SES' gasification technology for the conversion of Inner Mongolian lignite resources to syngas. According to the terms of the MOU, both sides have agreed to work exclusively over the next 12 months for the purpose of completing the technology licensing, equipment supply and technical service agreements.
The project leader of Tianfu, Mr. Xu Zhenzhong, said, "SES' gasification technology is one of the most advanced coal chemical technologies of the world and is especially environmentally friendly. Once completed, the project is expected to supply gas to Hulunbeier residents as well as provide
It seems the market has caught onto their mou game. If these guys were selling mou's that never materialize the stock would be at $20. Face it, whenever the stock is about to totally crash an mou gets written. They're a dime a dozen, and the company is a bad joke.
Sitting on the sidelines awaiting the reverse split ( "to enhance shareholder value") at which point you short all you can get your hands on. At the moment it looks like they'll be do at least 10 for 1, maybe 20. Pray for 20 so you can short at $10 or $12 and ride it back to $1.
There's lots of $ to be made here, but not by buying into the silly mou"s.
I think the problem is that these MOUs are not firm contracts. It could take a while before final contracts are signed.
I added more shares this morning. I'm optimistic because it appears that the Chinese govt has put coal-gasification projects at a high priority. In early October, China started the construction of a huge coal-gasification project in Xinjiang.
Sentiment: Strong Buy
Someone is shaking the trees and the weak hands are puking it up. At 65 cents????You get a call on the company??? I would watch for a 13D filing....A very good trader is putting a lot of stock away. The company is not going out of business. And they will have their first GE deal by January..
Couldn't agree with you more! I speculate some entity is accumulating at literally rock bottom prices. Perhaps a "creeping tender offer" as part of a hostile takeover.
Is anyone able to get "short" data? A website called "shortanalytics" is reporting a very high percentage of daily volume is short interest. I can't speak to the reliability of this data, but if it is true, who in the world is shorting this stock at sub $1 prices?! Naked shorting possibly to keep the price below a $1?
It's frustrating, but they need to show some actual revenue. Today's announcement is the third of its kind.
1) Hainan Dongfang Henghe Energy (announced in April. Is this still even happening?)
2) Hongye - Glycol Project
3) Hulunbeier Tianfu Energy Co.
The stock will continue dropping until they report positive revenue. So far they've been rich on press releases and poor on results. We have an earnings report coming up in a couple of weeks. Hopefully we can get some info on the Yima plant. One of my Yima concerns is that SES is only getting paid on dividends. What is the payout schedule for these dividends? When will they start? How much will they be? As long as uncertainty remains around the financial viability of this company it will trade where it is and lower.