Member Info for mrc_mrc_mrc_mrd

In theory there is £60m of tax savings, however I would imagine the rest of the business would weigh on that as a valuation. Does anyone really want farmland, a couple of wind turbines, and a tiny producing asset in the Netherlands? Disposal of these “assets” will be time consuming and expensive.

Also if Labour get in then these tax losses become worthless…

Lol, great input. Bravo.

I suggest you re-read the RNS before you invest!!

Runner - yeah if you ignore the decomm cost projections for this year…

Still over priced here in my view given funding is required.

Indeed…requires faith to ignore evidence of poor governance…

And there we have it…4 posts (pointless personal abuse, adding zero value) from the BOD lovers to bury your very valid questions and observations…

You are wasting your time black gold…the 3 posters you are engaging with are BOD stooges IMHO. They won’t allow any normal discussion unfold.

For what it’s worth I don’t think you are far wrong. It is SCIRs responsibility to have cash on hand to pay bills as they come due. We are in the ludicrous position where we are racking up debt with the counterparty…

It’s the same loan I believe. The delays will have been costly.

Relinquishment and liquidation could be on the cards if these delays go on much longer and the limit on the facility to cover cash calls is hit.

Is the guy just gullible? Or is there some deliberate dishonesty.

Just checking back…Perkins has presided over a share price drop from over 2.25p down to 0.25p!!!

Now that is quite something. No concerns raised until he sold out at the bottom last year??

Perkins

Anyone know how much shadow debt has been racked up?

IF the deal goes ahead and the project proceeds, how much of that $6m will actually end up in SCIRs coffers??

Very little I suspect as the money is being drawn down to pay directors salaries.

Has Muir seen the writing on the wall?

Anyone remember a certain someone was suggesting that the drill would not be delayed into summer 2023?

Enjoy your taxpayer subsidised electricity

Aren’t you clever chiromawa

Ah, BOD stooge then.

Nobody is that stupid.

Problem is that the company is NOT run well, it DOES NOT make good business decisions, and DOES NOT offer a return to shareholders.

It generates a small revenue from GGL which the BOD overpaid for. It will take decades to pay back.

SHS - you think AF, TR etc are in this for anything other than extracting money for themselves and related parties?

They have certainly been successful at draining cash!

SHS - “ But Scirocco has progressed”

Depends how you define progress. The business has changed for sure. The Shareholder value has progressed to director and related party value.

The company has progressed from asset rich and cash poor to asset poor and cash poor.

You also said “He has achieved more than any other chef exec the company has had in my opinion.”

Again, depends on your definition of “Achievement”. He has certainly destroyed the share price more than any previous BODs have. He may also ultimately achieve the failure of this business if he remains in charge.

Were you able to keep a straight face as you were typing that SHS???

The incumbents have destroyed so much shareholder value. Basically stripped the assets and squandered the proceeds on salaries and fees to friends.

How anyone can be anything other than disgusted with this mob is beyond me…

The BOD are burning through cash at an unsustainable rate (as admitted in the RNS).

I just hope that the long stop is not renegotiated again.