We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Merely saying that your literary talents are wasted here.
Frank - they have a liquid asset they can sell quite easily. Will they get a price that covers the drill? If they get 20p then they are pretty close to it, BUT CoS is only 30%....
All I am saying is they should sell HE1 now.
It is non core and it has more than exceeded everyone’s expectations based on pure speculation. Does it have any more to give? Maybe...but risk reward not attractive IMHO.
Regarding you comment as per usual about funding, do you really think when they already bagged 2 million they haven’t at least secured the drill money or will as and when the HE1 SP rises ;o)
Doubt they are selling after announcing their remaining stake yesterday. Feels very much like that is what they are leaving on the table.
Shame as it means SCIR is not fully funded yet for the next 12 months.
I agree with AA Noob, I expect they will keep the 1 million options at 2.85p + some shares for the drilling. That is why NR forked out shareholders money in the first place, to drill the asset. No idea how many shares they will keep but my guess is some free carry shares post full original outlay recovery.
Noob67 they will at some point but as its so close to the drill it's unlikely in my opinion.
Too true Pat you are spot on and folks will be kicking themselves for not sticking with this stock to the drill, I expect min 2.5p or more with good asset but I’m being careful on my predictions and rubbish regarding HE1 is bagged 5-6 before I thought :o)
mrc from memory I think I have been a shareholder for 14 years lol. I have only been using this site for about 6months though. Also there hasn't been much to talk about because the company hasn't done anything worth mentioning. That seems to be changing.
I've lost count of the BOD changes but cannot focus on what they did or didn't do.
As each year passes, the assets get closer to maturity so I don't see it as something to continue to look down at.
Scir now has 2 assets which at last look promising. Rather than focus on the bad, I am choosing to look at what could actually give me an exit point.
Fair enough - you are generally positive and post quite a lot recently so I assumed you were a new investor. Sorry it hasn’t worked out for you.
Obviously I have no trust in the BOD, and I think others should definitely look at them with a critical eye and consider whether they are the right people to lead the company. All is not lost here in the right hands...but the BOD has had 3 years to turn things around.
If you invested when the BOD took over you would be 50% down now. Or looking at it another way, if you had sold when the BOD took over you would only be down 80% rather than 90% down. Without even mentioning the opportunity cost!
That is a bad record for a BOD that was hailed as the saviour of the company.
mrc none of us have any control over those things you have listed. We don't know what the BOD do in the day to day running of the company. Being as we are not given the chance to shareholder vote on the day to day running, one has to trust that the BOD are making the best decisions for the business.
Being as I am choosing to stay locked in as its not worth realising the paper loss and making the decision to not invest any more money. I have just accepted I got on a bus which had the wrong destination on the front and there is nothing I can do about it, I either get off in no man's land or I sit back and try to enjoy the view.
I am certainly not trying to say your sentiment or opinion isn't warranted, it is justifed. I just can't sit continue to complain about the crap situation.
To clarify...
Does anyone actually think the BOD have done a proper valuation of their HE1 stake? Risk reward analysis to justify holding? Do we think anyone in the current BOD is competent to put a value on the stake or even know the first thing about helium exploration?
Do they even read the announcements that they copy and paste?!
Some of you guys are happy to gamble on it being the big one, but SCIR actually have more to lose because they are borrowing money from the work programme funds. If they can’t fund the work programme they become a distressed seller and the Ruvuma asset is picked up for nothing by the JV.
It is a massive risk.
BDS I don't recall anyone every saying the company has been great, quite the opposite. I am not concerned about what other investors do or warning potential investors off.
This is still in my bottom drawer where it will remain until I either breakeven or make a return. If that never happens, I have already accepted it.
If that means in 2025 I am still sitting on a loss, I won't be any more despondent than I was 4 weeks ago.
BDS, what a well constructed post ( so similar to the other 1000 you have done,
I'm pretty certain Solo/Scir has never been classed as an Energy E&P company.
Its only ever been an investment company. And it has done exactly that, made investments.
As for the current BOD being all over the place, that's your perspective which I don't share.
I can't speak on what they valued HE1 at any given time. I also spend as little time as I can worrying about things I cannot change.
I am sitting on a 90% paper loss. No matter what the company does, its can only get 10% worse from here & my holding will reach £0.
The worst had already happened. They can invest in paper planes made from recycled paper if it generates income as far as I'm concerned.
They've got an experienced board who have the ability to turn this company around, or they won't. I'm not hold them accountable for NR's decisions. If they make bad decisions which devalue the company then I will judge them on that.
The free HE1 carry may still generate a 7 bagger.
Hi shoulda.
That’s my point, we are not trying to be an exploration company. We tried that and it has been an unmitigated disaster, wouldn’t you agree?
These assets barely get a mention on the website!!!
The BOD are all over the place with their strategy and their behaviour. Strategy says nothing about legacy assets funding the renewables ventures. They thought HE1 was worth less than 3p a few months ago! Why not take the 7 bagger?
mrc in the words of the Joker "why so serious"?
So Scir have broken even & now have a free carry on HE1. Even if HE1's results are garbage, Scir are ok.
Gambling & Oil/Gas explorations go together wouldn't you agree?
Not to try and speak for the company or defend it, but they are trying to diversify away from fossil fuels.
From what I can see & read they are trying to do what is necessary to actually turn this company into something, but you think it all stinks.
I don't know how to cheer you up buddy..
:(
Actually they have not made anything yet because the original investment was about £2 million unless I am mistaken. So over the 5 years of investing in this asset they have made a return of zero. Not accounting for the BOD time wasted over the years to bring it this far.
Yes it is great that there is more cash in the bank but should they really be gambling all of the paper profit on a drill with 30% CoS? We need the money to meet the CH1 commitments this year. If it goes boobies up at HE1 then a placing or drawdown of death spiral package will be needed at SCIR.
On one hand we are supposedly becoming a nice safe cash generating business with very low returns. On the other we are risking the money needed to buy these new assets on wild cat drilling!!
The BOD strategy is all over the place!!
mrc other than the 8months or so that KN1 was producing an income, I don't think Solo/Scir has ever generated more cash, over its entire existence than it has done in the past 4 weeks. I am open to being corrected on this.
They have an asset which has provided a return & may still provide a little more if they continue to hold post HE1 successful drill results. Which could, as you question; fund CH1 & new assets.
I think Solo can be classed as one of the worst performaning stocks on the AIM of the past 10 years. I would of made more money burning £20 notes to keep warm Pablo Escobar style.
That being said, the current BOD have just made the company £2M & are trying to buy into projects that will generate immediate return. Not the old NR style of angel investing seed money. Evidently they have recognised that operating in Tanz is NOT the way to profitability.
I have chosen to look at this as Scir is literally starting from square one and is using its current assets as capital, rather than Shareholder funding.
Deals take awhile to sort. Have they had enough time? YES.
But just because a deal hasn't been announced yet, I am not taking the view that a deal or deals will never be done.
I think you need the bosom of a good women to put some rosiness into your cheeks mate.
Chin up buddy.
It needs to bag just to get back the value the BoD have destroyed.
You won’t be saying that when this bags.And it will.