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I’m not on the woodbines but just throwing it out there !!!Today 12:46
I was thinking about the SCIR interview yesterday and the only bit I focused on what was he said about interested parties and may not lead into a transaction but at this stage it may not be money SCIR is looking for in the sense of it other than 5 million let’s say so if they handed over there stake to Wentworth and let’s say they got 50% of there 25% stake in Royalties but endured no future costs over the life of the asset then maybe SCIR could be quids in but I not done any sums to back this up of course but I feel they at this moment in time be pushed to get $20-25 Million for it and if the resource is bigger then then it could be massive for both SCIR & Wentworth, this would give Scirocco circa 7-8 million to waste on something else (excuse the pun) I’m not on any funny woodbines but does anyone know what AEX/SCIR will get revenues on the current resource once in production ?
maverickd we got two Tanzanian assets so it not all HE1 plus this new tiny asset and they all banging on the Telegrams about Licence to drop anyway and Seismic news so maybe they are correct and is good for us too :o)
No mention in the full year results re progress with Ruvuma and KN1 in Tanzania, just news up-to 31st Dec which is already known! No mention in the SCIR brief interview! No mention in Macy's update! These assets are by far where the most value is at the moment and nothing, they all just ignore as though the on paper asset of $20m does not exist past 31st Dec - that can't be right surely!
MRC - the BOD has a clearer line of sight to the cash calls than we do, so one has to assume this is in hand. I suspect the fees are more to do with setting up the JV than the acquisition, although I would agree that £80k of due diligence on that seems a lot. However, we complained the BOD were not progressing the strategy, and now they are, you are not happy?
Agreed Volatility. SP doubled on no news other than He1 going over 20p. Dropped back without He1 dropping. SCIR have taken some profit, safeguarded the primary asset, and plan to purchase a profitable company, yet no SP reaction to this progress.
Took some HE1 profit today and still in SCIR with free carry. Looking back the previous SCIR spike feels like a P&D. I think we'll see another just don't know when. Have retrieved a few AIM positions on similar sp movement. GLA
I have been a solo oil holder for a decade pretty much and aminex, but I don't post as I do my own research and invest at my own risk. I have also been frustrated many a time. However, respectfully your posts are really bitter and there is no need for most of them. For a person who is not invested I just can't work out why you would waste so much time just having digs at every opportunity.
If the board has messed up and the share price is flat, why don't you just be grateful your not invested and move on and instead of creating negative energy here spend that time finding a great company with a great board of directors that suits you.
This is not any type of argument but it's constantly getting annoying now as your comments don't hold any balanced or meaningful views.
Green energy firm fined £4k for polluting beauty spot1Greenan Generation Limited, which is based on the Carnmoney Road near Eglinton, Co Londonderry, pleaded guilty to discharging polluting matter into a tributary of the River Faughan on May 22 last year and to discharging effluent sewage on October 21 last year
By George JacksonJuly 22 2016 11:00 AM
A renewable energy company set up by farmers has been fined £4,000 after it admitted polluting a river.
Greenan Generation Limited, which is based on the Carnmoney Road near Eglinton, Co Londonderry, pleaded guilty to discharging polluting matter into a tributary of the River Faughan on May 22 last year and to discharging effluent sewage on October 21 last year.
Five other related offences were withdrawn by a solicitor acting for the Public Prosecution Service.
The lawyer told District Judge Barney McElholm at Londonderry Magistrates' Court that in October 2014 water quality inspectors from the Northern Ireland Environment Agency examined the beauty spot.
The officers found a quantity of fungal matter and silage close to a drain leading from the company's plant. Following a meeting between the inspectors and directors of the company, a follow-up examination was carried out in May last year, during which silage effluent was again detected.
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.
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.