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Someone reports the threads so they have either been removed permanently or are being reviewed. I can still see my posts in my own profile section.
48 posts ( only two showing ?
Comes with full potential that can be built on.
Its all quite convoluted.
SCIR doesn't have "world class asset" money, so its in-line with current cash, without having to raise or borrow.
I'm still not sure if I should be punching air in joy or not.
But with a double year end loss in 2019, £45k a month is something to be upbeat about. I doubt that will cover admin & salary costs but, one small step away from NR, a giant leap for shareholder kind.
Much better than their previous 5 year ROI target in the last presentation. Overall I believe this is the first positive step in growing a self sustaining company.
HE1 and Ruvuma especially are many multiples larger, so positive progress there is all important.
SHS- essentially the BOD seem to lack expertise to actually select investments themselves. We are now bank rolling these 2 guys at EAG who we are gifting 50% of the farm asset in exchange for their knowledge of the sector.
Makes you wonder why we have this Expensive BOD. All they seem to have achieved here is to divert more SH funds into their own pockets. GNEISS still seem to be heavily involved so I guess it goes
BOD engages gneiss, who engage EAG, who get their farmer mates down the road to punt on their tiny biogas generation side hustle.
Not exactly world class.
I am a bit confused as to why this EAG JV is a private company. So all future deals will be done somewhat in the shadows.
I don't know who the Montgomery Brothers are; I am guessing they owned Greenan Energy & have been bought out & ousted?
Ok reading through the company presentation, I thought EAG was going to be the "special purpose vehicle". Evidently its Greenan Energy which is the S.P.V with EAG as the parent company, which Scir owns 50% of, so a 3 tierd corporate structure.
Page 18 of the presentation suggests a lot of growth in the sector be many companies making this switch to biogas.
Separately page 12 of the year end RNS with the section titled "Growing Concern" I think you should all read.
So from my understanding Scir will now own a asset which is/will be generating circa £500,000. Notwithstanding capex that's a 2.5 year ROI.
Well regardless, news flow should be;
Helium-1 is now drilling, 30 days for the first drill, Helium in the Mud will be reported if a show. I expect that will be the case and the market to over react, if I am wrong then Equally in the opposite direction.
Ruvuma Licence due
Closure and confirmation of the 1st acquisition
I convinced Colin (mrc) must work for ARA !!!
Yea thanks mrc I have found it & am currently "digesting" it ;) ;)
SHS - there is a presentation on the website. Interesting they chose not to include all of the detail in the RNS.
This is certainly not going to be the self funding company everyone wants. Fundraiser almost guaranteed in the next 6 months.
IMHO the SP needs to derate to match the new strategy. This is no longer a high potential company so all of the hot oil and gas money will likely drip drip out of here to chase the next dream.
If this goes back to 0.5p after the next placing then I will be a buyer.
GLA
Ah well at least there is a shareholder Q&A. Many of you have unanswered questions you can now submit.
I want to be happy about today's news but being as I know nothing about biogas or how much cash will be generated month on month, I don't know how to react. I don't think the market does either.
Are the figureýs elsewhere?
So Scir has gone from a VC firm to a Energy E & P firm and is now going back to its VC roots...?
I think the "Special investment vehicle ' news has sent shivers down the markets spine.
There's number 3, so a little over 7 million shares + 1million options in HE1. Current value = around £1.7 million
So it seems these 5 or 6 deals that the BOD have been assessing might actually be one company? We are to become an investment company that invests in other investment companies??
Crazy?
What exactly is each party bringing to the JV?
This all looks needlessly convoluted fo what is basically a tiny generator and some AD tanks.
Hi Chris - we should see the 3rd RNS later this afternoon. The BODs will need a nice nap after all of this hard work.
Probably up all night trying to polish this one
Had a quick look at the accounts.
Maybe that sentence should have included fees.
Looks like the aborted deal cost about the same in fees etc as what they are investing in the new deal.
Hope it all works out here but given the investment amount looks like a very long time before they actually make a profit.
A key sentence for me in the end of year results is:
'Continued focus on cost discipline, including salary sacrifices and implementation of option based remuneration for Executives'.
We will see how the market reacts but for me this demonstrates that the BOD can’t secure funding for a deal of any meaningful scale. At current pace we might see about 1 investment per year. No mention of value this deal is adding.
Morning Chris.
At last a deal.
Rather small compared with the aborted one dyas one.
The amount invested is small so without looking further although that cash will be earned it probably will not be much.
It will be interesting to see the cost in fees of this deal.
Good luck here. The sp will probably double knowing my luck.
Still far from impressed and yet another change of strategy.
Not too sure how shareholders will react in the vote.
I agree, no dilution (at this stage) is always welcome. Should hopefully be the start a brighter future for Scirocco and delivering on the BODs change of strategy.
Fell
The BOD are delivering what they said they would Frank and with cash that is already in the bank, never thought I would be able to say that here ;0)
The 3rd RNS should be that Helium-1 have spudded.
Dare I say it, looking good!
This looks a little underwhelming.
I think we might see a drop here.
What’s your thoughts Chris ??