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Still distributing the FUD mrc, see that you're busy at Pmg giving them some doom, after trying to sell it here,
SHS my fear is that it is not reflected in the SP.
There are still a number of investors who believe that Ruvuma is still SCIRs. This is inflating the SP. Once these guys capitulate (E.g. Aimster, AA) we could see much lower SP.
There also seems to be a lack of understanding about the seriousness of this DEFAULT.
BD - can’t bring myself to buy even a token number of shares. I’ll just have to wait until it all comes out publicly I suppose.
Which is reflected in the market cap, the stock sentiment & index it trades on.
I think even leaving Gneiss aside the business is not exactly lucrative.
It’s basically impossible to value the business without knowing what the margins are.
This is before we consider the double management (+ consultancy) cost structure. Completely ludicrous for a company this size. What is the great Muir Miller actually doing? Not heard much from him.
Well if T.Rs plan is to increase the Gneiss retainer with every AD plant so all the income continues to go to them, then I agree with you.
If it was as easy as buying up assets then everyone would be doing it. Clearly the Greenans didn’t see much value in the business.
We are paying market prices for assets with borrowed money.
None of this makes financial sense to me, but my guess is that as long as money is moving around the BOD can claim to be doing something.
There is no business here IMVHO
MT you will have a better understanding of the financials than all of us put together then.
From my understanding both EAG & GGL are private companies so we will never get detailed numbers and so are left to speculate.
From what T.R is selling, looks like once these AD plants are daisy chained, Scir will have a rapid turn around. I reckon I could be at breakeven by June 2027 :) happy days
The way I've interpreted the report is that once the AD units (of which 3 more are in the pipeline) the metrics really start to stack up.
No information on what value the H2ope SEM JV brings or how much the fertiliser sells for.
So about £270k down after fees.
Haven't seen this one in the after dinner joke book.
Gross net? Lol
The £600,000 is group net.
Correction * the £600,000 is group gross net.
Lol glad to lighten the mood, even if its just for a few hours in here :D
If I have read the financials correctly, the £600,000 is gross. Couldn't see the breakdown for the net, but income showed £323,000. So I am guessing thats Scirocco's 50% net.
Is £600k all of it or only our 50% share.
Not even sure we physically get the money in our bank as supposed to be reinvested in AD business.
Although it seems it is currently being reinvested in fees.
And of course no other income.
So by the time you add on general running costs they are running at a loss and out of cash.
Can't ask prolific so not sure where the next lot will be coming from.
Perhaps they could ask for a credit note for fees unrendered.
Lol mrc, if you were a shareholder you’d know what’s going on.
I would say it would be a great investment, but I’m sure Gneiss would advise our BOD of a suitable valuation to get maximum cash into the company for very low equity in return.
Lol very good SHS
Things seem to have gone awful quiet on the BD disgruntled shareholders group? Any moves being made behind the scenes?
Surely a good "Circular" investment would be for Scirocco to buy into Gneiss Energy lol.
I'm guessing Scirocco will roll into another 15 month contract with them when the current retainer expires so the AD revenue never trickles down to Shareholders.
Team Gneiss for the Win.
Finally got time to scroll through the financial report. From what I can see the AD business is on target to generate £600,000 by October (12 months) and the payments to Gneiss equals £606,000. So Gneiss does get all the income for as long as Scirocco retains their services :)