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The SP is getting close to my initial buy price. That was before 20:1. Fortunately, unfortunately, depending how we view the prospects of the company I have been able to average down. Still a considerable amount to gain before I reach even and I’d like to see a profit at some point. I remain ever hopeful. What are the options?
Hi little much the same as they were this time last year really.
Sale of Ruvuma for $20 mill + (Zubairs have upgraded the resources with another TCF so in theory it's worth more) or Drill Ruvuma post licence extension and 3D.
All looking very cheap at £6million imo.
Bio gas acquisition is due for completion any day and will be revenue producing, although small.
Other acquisitions
Helium-1 drilling, 1st well should be about complete with 2 to 3 more wells to go.
The BOD need to get their communication act together and realise the market place they are in or we will all be looking for some replacements by year end I expect.
Looking like a rise could be on the cards for tomorrow, little selling today, the drop was orchestrated somewhat.
keep a close eye on HE1 short term.....if they do drop a good RNS it might get hectic and be difficult to buy.....but could snap up a few of these
Strange how my post attracted the resident doomsayer, but then again it is as predictable as the weather.
HE1 must be very close to the results of the first well now, only another 2 to 3 wells to go after that. I guess the question is, what do the BOD do with the 9.55 million shares if a well comes in? I suppose it will depend on the SP movement at HE1 as it could provide enough cash for the 2021/2022 Ruvuma budget?
Taken out ? Still needs meat on bone, not aware that we are for sale.
Could go hostile. I’m sure many would take 1.5p per share.
Would have to be at the highest price in the last 12 months @2.675p
Not that I expect it is about to happen anyway.
Sounds like a plan volatility and good luck to you :) I have also done very well out of HE1 from 7p - 26.5p on the ask there now :)
Hi Volatility I am on a free carry after several slices so well up.
Seems from the RNS the BOD have done much the same, £3.28 million banked and 5,256,088 shares left at todays price = £1.366 million still on the table.
YES it positive but now hoping on "Trapped Gas" if the SP reaches 45p-50p then the revenue would be the top end of my prediction chart posted months ago (30/04/2021) on the Telegram group which 6 million was my max expectation so over halfway but more to do and luck involved now, reposted again for reference, now some more positive news hopefully soon as it been dire !!!
Why does it have to be at the highest in the last 12 months Chris?
Well done the BOD for continuing to sell down HE1. Massive risk taking it this far into the drill. Hopefully they are not ****ing away £1 million plus by holding on to the remaining 1%. Much better to bank the cash and avoid dilution.
If one was to follow the money; with Oberon & now Scriocco profit taking, it could suggested the HE1 pilot well may fall short of expectation.
That should keep the bod employed for another year then. About time they did something. As soon as they put out an RNS we lose our blue day.
SHS - I think the whole campaign is destined to be a disappointment. It always is with drills because appraisal and development take so much time and money (especially in Africa!). I can’t think of a wild cat drill recently that has ended well for a small cap.
So I see a possible technical success which will be sold into. Could be wrong, but seems like the excitement has sucked in a lot of novice investors who will be left holding the can.
It' has a long way to go yet, this is only the first of 3 or 4 drills this year so anything can happen at HE1, longer term post any successful drill then I agree that development timescales are an unknown. In saying that it comes under the ministry of mines and not energy and we don't seem to see the same issues that they have in the Energy ministry.
Today 16:04 Because that's the takeover rules.
Do you have a section / paragraph reference?
I’ve seen where they need to pay the highest they have paid over xx months, but never an arbitrary timeframe / max price that Some mug punter paid.
Just google it, plenty of law firms publish quick guides.
I’ve read it before when I’ve needed to but can’t be bothered - I will take your word for it.
It is anyway highly unlikely to happen. The biogas direction has made it even less likely. Nobody is looking for that hassle to go along with a mega project in Africa!!
I would suggest there is very little interest in Scirocco's 25% of Ruvuma.
Reason, because the lack of progression being made on all fronts over at Aminex suggests it is quite plausible it won't even happen. Noone wants such huge risk and uncertainty.
I would say nobody Chris. The biogas is a bit of a poison pill. A buyer would have the hassle of disposing of it, probably at a loss. It’s really not worth much unless they want to follow scir strategy of scaling by bolting together lots of farmers unwanted assets (correct me if I have got the strategy wrong, it changes quite often!)
Equally, nobody is going to pay $20 million for Ruvuma (full stop IMHO), but especially if what they really want is the biogas venture.
SCIR need to sell Ruvuma and scale the biogas before we become a target IMHO.
Let’s hope the BOD can pull a rabbit out of their backsides
It's a very small element of the company. Like I first posted, I don't expect at all that anyone is about to make an offer at the 52 week high, the benefits in no particular order are however;
Cash
Tax right off
5.5 million HE1 shares
Bio Gas with a + EBTIDA
Ruvuma
@Joelt Well the Tanzanian Government have budgeted for the 2021/2 works, however I don't expect to see any progress till the Majors have finalised their PSA negotiations with the Tanzanian Gov this summer.