Member Info for CrustyPete

Matt, that was pretty much what I was expecting to hear, I have never been able to find any more detail. I had hoped and wondered whether any of those that have attended recent AGM's may have discussed this with the BoD and may have any "clues"....

Really positive news and good timing too. Let's hope that there is an increase in the up front payment but, if not, still very good news.

It would be good to understand what milestones actually need to occur to trigger the future development payments. Anyone offer info on this?

I am too bloody old for a 10 year ROCE!! Medway is only 30 minutes up the road from me but I won't see this project come to fruition this side of my wooden box... and I am not even yet retired.

SOS exactly that!

As I posted on 30th November.

"Except Sprint that Medway CCS is a cash drain and what point spending more money on a dead duck or, at best, something that is not going to give any ROCE for years! Concentrate on those aspects of the portfolio that will generate revenue in the short term and may offer some prospect of increasing shareholder value."

He is well named though Chesh, after all, each are just about as popular as the other 😖

Gordon, I may well have agreed with you in principle but, as I have suggested before, the workovers are hardly likley to "move the dial" in terms of additional revenues and that has now, to my mind been more than offset by the seemingly / potentially increased costs associated with the Harbour Energy withdrawal from Medway CCS project. We appear to be committed to a work programme for Medway that was the biggest driver of the recent £650k dilution. With Harbour's withdrawal and until and unless we find another Farm-Out partner does that mean we have the other 50% to find from our own coffers? Of course we don't know, as no-one has told us what the specific CCS costs are what those costs cover

or for what period.... But if we have now to fund our own way on the CCS those potential increased incomes from the initial workovers will be swallowed up.

As I said below for this sp to move significantly in the right direction we shareholders need to know precisely what we can expect and when; until then any short term rises off the back of Cambay will be muted at best methinks. Who the hell is going to pump significant monies into this without that clarity? And certainly not for a few $1000's a day?

A perfectly relevant and pertinent reference Toffers in the context of the current ML conversation but I would point out that the EISA and other implications of a series of open-cast Gold Mines may well be far more complex and problematic in granting approvals than a relatively non-invasive programme of Helium Drills with potential added benefits, including water....

But, again a useful comparator Toffers, thank you.

And so as a Special Mining License is likely to be necessary (which a 20 -30 drill programme would presumably necessitate?) the timing of the approval of the Mining License will be contingent on such things as completion of the EISA, which as far as I can see has not stipulated timelines....?

FFS sake how many more times?!

She was asked how long she thought it would take and her answer was. to paraphrase, that based on the recent experience of similar applications they expected it to be approved in about three months.

Well Ssccss, that sounds very much like the same thing to me....

You don't need a specific "reason" for a "continued decline", simply continued uncertainty, lack of clarity and of positive news......

It was in one of the recent interviews. She stated that she expected the application process to be complete in a similar time to recent examples; that is something around 3 months.

I am not sure taht I would agree with that. If the C-70 re-working is close to completion I would hope to get some form of confirmation when finished and hopefully something to inform us how it had gone? And I would hope that C-70 re-working must be well progressed by now.

Once they start to use that rig I would suggest they are no longer in the process of "preparation" but are actually in "workover" mode.... hence C-70 could still be in "process" whilst they are concluding the "preparation" of C-63.

SOS, not how I read it. The X post claims that the "preparation" for workovers has begun at C-63 nothing more. I would have expected that to be done in parallel with the workover of C-70 not after completion of it.

I know that our opinions oin this differ but - to repeat: Q1 is the wet season in Ntorya RJ. It is unlikely to be problem for the re-working of any drills NT2 etc but I do believe it will impact completion timelines for of the Pipeline - unless they start immediately thereby giving them 4 months to complete the work. If they leave in until January to start work the rain is likely to impact the speed of completion which was estimated to be 3 months BUIT as was stated at the AGM would be impacted by adverse weather.

See the URL below for Ntorya weather.

https://www.meteoblue.com/en/weather/historyclimate/climatemodelled/ntorya_tanzania_877478

Except Sprint that Medway CCS is a cash drain and what point spending more money on a dead duck or, at best, something that is not going to give any ROCE for years! Concentrate on those aspects of the portfolio that will generate revenue in the short term and may offer some prospect of increasing shareholder value.

I think it is a bit fishy for this withdrawal to occur so recently after the recent cash raise and even more only one week after the AGM. I struggle to believe that there wasn't some knowledge of this beforehand.

I would endorse that opinion EE. You may recall some weeks ago the posters on the BB were asked to opine on what they could see SCLP achieving and what your target price was. Mine was 90 -100p and my thought process was that in the event of an offer 90 -100p would be achievable. Obviously I would be just as happy for the current BoD to continue running the company and look to grow it considerably through JV etc before any future sale.

Unfortunately I agree Gordon, highly unlikely that Roland will choose to put it on the back burner as it would involve his suffering a huge loss of face..... However a business with zero cash flow, bugger all Market Cap and a paltry balance sheet needs to operate within its means. If it doesn't the BoD will fritter away any and all shareholder value and we have very little left to play with.

"The rampers are always the ones to look silly in the end."

If the cap fits Herbie..... you made yourself look totally ridiculous then, so why oh why would anyone give you any credibility now?

Stop digging Herbie.