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totally agree on your statement Chris, Joe and many others had a hard time here and it not just about the traders here but LTH`s who put there faith in NR years ago and then in the new board and so far got "feck all reward" to the enjoyment of some but I believe in Karma and their day of judgement will come and they will remember my words as it always does as expressing your frustrations or opinion/s is fine esp if you are a Shareholder but day in day out ramp down the share is shocking esp when some are feeling the pain both financially and mentally but due to changes early on in the year after nearly dying of Covid things changed for the better and not many can say Covid was a gamechanger unless you were in Covid stock which I felt was not good on moral grounds !!!
I suppose we are all on a time restraint to some degree and times in general have not been straightforward,goodluck joel.
I hope it comes in on time for you joelt and the sooner the better.
I know I know, but being on my time constraint I am hoping for a significant rise before that CP.
We can hope.
Still waiting for that back to back drill joelt ;0) Now 2nd half next year which is what I think Frank is referring to.
12/14 months Frank?!
Jeez I couldn't hack that much longer in Aminex!
People have been saying "just another year" for the last 5!
leave yourself 12-14 months and you should be ok :o)
Afraid so, but will still check in on a regular basis, because I want it to turn for the likes of you Frank.
If I have to do the same for Aminex, my dealing days will be over. Unfortunately I am on a time constraint.
Wish you all the best and hope to speak more positively in the future, shareholders in both companies really do deserve some good fortunes.
even you have left the ship Joe, but hoping you come back soon :o)
At this rate this won't reach 2.25p for an eternity, so yup I think people would snap that price up mrc.
They really have been unbelievably poor at delivering anything, people jumped ship a long time ago. They are on a different planet.
Of course that is also unlikely, as they could just go straight to shareholders with say a 2p offer without buying any shares beforehand.
I would imagine a lot of shareholders would go for it.
I suspect if they offered 2.25p then the BOD would probably recommend it as they will get their money back, plus I’m sure some juicy options?
Some people have mentioned WEN. Perhaps they could do it like this if they want Ruvuma at a bargain price.
Jam - that is my understanding as well.
Given the daily volume it’s likely a buyer would need to bid the price up anyway to accumulate 30%, or at least increase volatility to drive volume. At this point I think a lot of shareholders have this in the bottom drawer and won’t sell with the usual method of dropping the price and watching the mugs do the usual buy high sell low.
My (unprofessional) understanding of the 52 week rule was that if an offeror was to break the 30% stake holding threshold, they have to offer to buy the rest of shares at the highest price that they, themselves, paid in the last 52 weeks. I think that if the offeror held none or had bought none in the last 12mths then they could offer what they wanted ?
Anyway, pretty academic cos i think chances are slim to none. Never say never tho :)
Cash - all ear marked for work programme
HE1 - all ear marked for work programme
Tax - need to make a profit before this becomes relevant
It really comes down to the 2 assets + any new ones we can add that add value.
The biogas is really a non event UNLESS the BOD can follow through and Hoover up a lot more of these. My assumption is that at scale they can find economies or apply knowledge to improve profitability.
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.
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
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.
Nobody, really?
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!!
Just google it, plenty of law firms publish quick guides.
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.
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.
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.
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.
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.