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May come good here eventually.
10 years and thousands lost with little chance of breaking even.
Good luck anyway.
Hard luck Steve. I holding on.
Whenever i see Tom's presentation he gives me the impression of sitting on his backside, cup of tea and biscuits and enjoying whatever is left coming into the company.
Had enough today.
Sold my last holding.
Can't even envisage how much money this board have cost me.
The shares were about 3p when they took over.
They have squandered what cash they raised from selling assets and basically have nothing to show for nearly five years.
As you say they are up the creek without a paddle.
They cannot raise in the market and even if they wanted to I can't really see anyone wanting to invest.
Good luck with your shares here.
They should get the second $3 million soon.
What they do with it is another matter.
Not sure there is nothing left to say about these chumps tbh Steve, surely one of the very worst boards on AIM?
These are the only shares I have left, and only because they are no longer worth selling.
As I suspected though it now seems nailed on they were right to sell the Tanzanian assets, although that's also put them up the creek without a paddle. The least said about all that the better, talk about a country that has absolutely strung everyone along and mugged us all off along the way!
Just look over at AEX, less than a penny a decade on!
Although neil got his salary etc at least he did manage to acquire the investments that the current board have spent the last 5 years selling.
You couldn't make it up if you tried.
I was thinking more 24 minutes and that includes commuting from the bedroom to the home office.
What horrific management. Doing nothing and paying wages, Lots of wages.
Wages / bonus / wages / bonus / wages for sitting on ones backside smoking a cigar and eating caviar.
LinkedIn - https://www.linkedin.com/in/tom-reynolds-6234648/details/experience/
Aquaterra Energy
Non Executive Chairman
May 2021 - Present
Part Time
SEM Energy Ltd
Chairman
Mar 2020 - Present
Part Time
Scirocco Energy
Chief Executive Officer
Oct 2019 - Present
Presumably full time!
Quixote Advisers Limited
Managing Director
Oct 2017 - Present
Presumably full time?
Zephyr Energy PLC
Non-Executive Director
Apr 2019 - Present
LinkedIn doesn't suggest part-time, but presumably, someone cannot have a third full-time role!
I wonder what Tom's definition is of full and part-time. Does his day have more than 24 hours?
The RNS statement was already known - the information was included in the 2022 accounts document filed in July 2023.
I am sure they are all patting themselves on the back for another wonderful year, and extracting more unworthy fees and remuneration from the business for doing sweet F A.
Of the £2.5M received for initial payment, I would of thought at least £500,000 would have gone on settling director salaries for the past few years.
Factor another £100,000 in for a Christmas party and holiday gifts for the EAG Board of Directors. I am estimating £1.8M remains in the kitty. So Scirocco will have to wait for the second payment tranch do be able to do any deals. Will that payment be received this year? I am going to go with, No. But maybe before October 2024. Which leaves lots of time at the current share price to reduce ones average at say £40 per month.
:)
Where has the initial $3 million gone?
Where are all these money making investments that they have paid for due dilligance on?
What are they doing day in day out?
How can they say they are running the company for the benefit of shareholders?
Would probably need about 25p to break even so only 99% down.
They should be ashamed of themselves.
This is back into "reduce my average" territory with beer money.
Not a lot you can do with that sort of money except pay the BOD obviously. No wonder the SP continues to go down.
He would be required to raise a TR1 to dispose.
We must assume that fitzpatrick still has his shares.
We could go around in circles until the cows come home mrc.
The fact is we are moving in a direction that is away from Gneiss, I'm not going to waste my time with suspecting.
Fitzpatrick installed the current BOD and has had massive benefit from them over the last 5 years through the Gneiss arrangement.
I suspect he has influence over a lot more than 2.9%.
I fail to see how being a major shareholder puts him in the driving seat. You would need a bit more than 2.9%.
He took control in 2018. Funny how well Gneiss have done since then isn’t it?
Hmm so Fitzy isn’t a major shareholder then?
You must know something not privy to the rest of us mrc, as I was aware Fitzpatrick left the board some time ago.
Fitzpatrick seems to be in the driving seat AA. TR and AR are his men.
With the departure of Doug I would have thought that Gneiss are further from pulling any strings since the tenure of this BOD.
6 months to a year i would expect around 3p
The market seems to think sp.
Pity it wasn't TR being shown the door.
Did DR go voluntarily or was he forced out by a major shareholder.
Him going will not make the slightest difference.
And as for making the conservation of cash as an excuse.
Seems that no investments are in the pipeline at the moment.