Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
People missed the chance to get rid of this lot.
The rest is done.
That deal to sell their percentage of Ruvuma was supposed to "creep" into Q2....That's now almost over.
It's basically inoperable and investable now, they have one eye on retirement and will walk with what little is left.
They must be so tired of publishing the same words.... unfortunately/despite best efforts... I have never in all my life in business seen someone as pathetic as Tom Reynolds.
Let's face it, it was never going to be signed off on time, despite the previous Comms in may creep into Q2.
The real sad part, no investors left around to particularly care...they all left the sinking ship months ago.
They've had all shareholders money on fat salaries and mates rates.
The ship is about to sink below the surface, whilst the board skip off onshore.
"We continue to make progress towards completion although it is possible that this may slip into Q2 2023 rather than the previously guided timeframe of Q1 2023".
The wording above suggests that the divestment was almost across the line and there was a possibility it would creep into Q2 - Well here we are in may and that is not a slip or a creep......
Unfortunately it doesn't look like they are going anywhere soon, but yes some awful amateur management sees us where we are today.
"Just hope nobody bought in when it was 50% up the other day" - Think most would feel relief to of been at those kind of levels, only share I hold now due to it being almost worthless.
A change of board still needed.
Well the interview hardly helped did it...
1) Take a dig at the legacy asset - something along the lines of if income ever came.
2) They are hoping the divestment goes through in the next few months? Hold on, wasn't it originally "may slip into quarter two? So you now mean the end of quarter 2?
As i said, Losers.
I am certain you would bring more enthusiasm to that 6 min interview Highland.
Tom Reynolds with his usual dribble.....milking the cow for all it's worth and more. There was me thinking he might deliver some actual news...
How are those AD plants coming along......quarter of a penny share price and I am sure the begging bowl will be out again soon.
HOW IS THIS BOARD STILL IN PLACE!!!
“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.
Have to keep it short, bit snowed under today Malaga.
I very much doubt it will happen as it's been mentioned on here for the last 2 years now - but I will offer up any free time I have to the cause of you wish to get the ball rolling so to speak.
My gut feeling however is it is too late and what was a considerable holding is now lost.