Circular29 Sep 2022 16:32
“Overall, recent share price performance has been very disappointing and the Board is equally disappointed by the performance. This has in part been linked to the extended period of uncertainty on the Ruvuma Asset and the steady decline can also be seen in the Aminex plc share price performance over a similar period, and indeed within the wider small cap natural resources sector”
Aminex 1-year chart = + 33.76 Percent
Scirocco Energy 1 year chart = -79.53% Percent
“More recently the Board believe it likely that false narratives repeatedly published on bulletin boards, including wholly false allegations of fraudulent behaviour by the Board, has also impacted share price through the promotion of negative sentiment. These baseless allegations are refuted in the strongest terms by the Board”.
So, they are actually insinuating the decline of this company/share price on chit chat of message boards, like they actually have any impact? You must laugh at this one.
“By using consultants rather than employees the Company gains access to expertise and experience which would be difficult and/or more expensive to retain via employment. As outlined at the 2022 AGM, Gneiss Energy provides a broad suite of services that support the Company with its funding, business development, portfolio rationalisation, corporate finance and investment stewardship, all of which have been utilised and delivered to the expectation and satisfaction of the Board”.
So, what is the actual role of the board here if a) these game changing deals and found externally, b) these deals are then funded with borrowed money. I want to know precisely what the likes of Tom and Doug & Doug are paying themselves with what little they have left, our money I may add.
Enough is enough, although I did say the writing was on the wall a very long time ago. However, I would rather see what pathetic value I have left in shares go down the drain if it means these clowns finally get smacked by the door on their way out.
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