The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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because the man who put a curse on SCIR is cursed.
SCIR curse is defrosting slowly.
Should help with the fees.
I see gneiss are involved in the possible Angus sale.
Still think a sale would have been better although only a few months until drill now.
Anything possible here as we all know.
AA - there is a difference between speculating on a share price for a non core asset like a glorified punter, and pursuing a growth strategy.
I think even you can understand that!
SCIR should be building a business, not gambling at the AIM casino.
I will grant you that the gamble paid off. But what if it hadn’t?
I will also remind you that it is the BOD that decided to float (and massively dilute their holding) at 3p. Presumably that is what they valued the business at??
I am pretty sure that's what they said in the webinar steve. Agree the big asset is of course Ruvuma, that's where all the money is, although it's good to see the rise @ HE1 making SCIRS shares worth over Half a million £ (might come in handy)
I think the two companies are in to very different stages. Angus has spent the past 3 years completing all the infrastructure necessary to supply gas/geothermal. Ripe for a takeover as they can generate income shortly. Whereas Scirocco/Ruvuma is still years away from being able to generate cash. The infrastructure isn't in place to supply. Even if a monster commerical discovery of both oil & gas at CH1, it cannot currently be piped anywhere. (Maybe tankered away at a cost ARA would be OK with)
Scirocco may indeed have a 4p value in 4 years time. Even if it sold out of Ruvuma tomorrow, I don't think the shareprice could get that high.
I guesstimate that a £20M sale price would probably see Scirocco walk away with approx £12M after taxes & Gniess commissions.
After pay raises for the BOD and share options, how much of that £12M would be left to re-expand the business again. Scirocco would be back to a tiny asset value and a reflective shareprice.
Sorry Chris didn't realise.
I don't think the quarter's figures will be that interesting anyway.
Chris - your apologetics for the BOD is admirable, but you degrade yourself trying to defend these guys.
It’s a god awful strategy which they seem unable to deliver. How can you grow a business when you are terrified of taking risk (as came across from TR in the q&a).
The guy has lost his bottle IMHO
Morning steve, I think they said end of Q1 2022 for the first quarterly update so not expecting anything else myself since they gave an update on numbers in the shareholders meeting in December.
Morning Chris.
Big rises in all the other stocks I have been in and out of.
Nothing here as usual.
The boards change of strategy is awful.
Seems more going out in fees than will ever come in.
We were supposed to have a quarterly update on the biomass numbers. Still nothing.
The million drawn a few months ago to expand the business. Still no news on that.
I think there are better returns on the drill myself. We have waited 4.5 years for this "Back to back" drill, what's another 6 months or so in the grand scheme.
2018 AEX Ntorya 3 now named CH1
https://youtu.be/bhw8DHGvA_w?t=19
I think many of us would jump at the chance of 4p plus just to exit here.
An awful share with an awful bod.
If Angus Energy are getting 1.5p offers then we would be getting 4p offers. Just need to wait to hear the official news as seismic work is completed at Ruvuma and for Ara to swoop in I believe.
HUGE drill, Massive, Multi TCF, yes Trillions of cubic feet and gas prices in Tanzania are up over 7% due to the increase in US CPI. Great time to get a massive drill in that has the potential upside of being the first ever oil find in Tanzania.
Drill it!
No bites so far today, fish not feeding.
A huge drill, two geological targets, an appraisal of the multi TCF discover + an additional 1TCF and or oil in the deeper Jurassic.
Roll on the spud, been a long wait for this back to back drill!
GLA