Member Info for mrc_mrc_mrc_mrd

Market seems to approve.

I have doubled my holding this morning.

This is a vote of confidence in the GOI paying up soon IMHO.

Getting new out first thing on a Monday morning is a bit much to ask of this BOD I think.

Seems they surface around 11am and punt something out around 1400?

Is Monday the day they do SCIR work?

Become friends with the BOD and they will drop you a few hundred K for them Frank. Seems to be how it works IMHO.

Stonking

Kraken and his crew will be closing out their shorts pretty sharpish Monday morning I expect!!

Chris - the presentations are gobbledegook.

If you can explain to me why having 2 companies on top of a fairly simple operating company is efficient then great.

The strategy is very muddled and they are clearly struggling to execute it and communicate with investors.

Indeed - what value is being added by having a number of biogas operations under one company. Can’t see many economies of scale. They seem to be inherently small side hustles for farmers.

All EAG are doing is creaming an extra layer of salaries off the top.

I wonder if the 2 guys are mates of the BOD. Seems like they have got a great deal, subsidised by SCIR shareholders? IMHO

Hopefully if they decide to go for it then they can at least ditch Gneiss.

It would mean another failed strategy though as AD doesn’t seem to be attractive for lenders, and Ruvuma will require a lot of cash.

They didn’t bother paying most of what was due.

Doesn’t give anyone much hope of having a viable business.

200 day moving average is at 21p.

I can’t see us closing below that with oil at these prices.

I may look to buy some more next week.

Squif - I have made money by buying big in January 2021 where I built up a position of 2 million shares. At an average of about 12.5p

I have sold some at various points and now hold only 500k in ISA and SIPP which I will hold for the next few years I expect.

If I had the view you have then I would sell the lot. Confused why you are on here moaning to be honest?

It’s a little cruel but I do enjoy having a laugh at these characters who screwed up their timing and then wail that it’s the companies fault.

Yes Gneiss doing very well through this relationship. Paid twice some of them!!

Scir not doing very well out of it. What is the point of disposals or acquisitions if it ends up crippling us in Fees.

Gneiss seem to have this MO across other companies. I know the guys on BPC were not pleased at all with their behaviour.

What a lot of rubbish you have been posting today Krakhead.

Why have we not seen anything of the renewables guy?

Surely they could put him out on a presentation round to help potential investors understand what we are doing as a business and why our new strategy is so super duper.

Have the BOD really thought this strategy through?

Seems to me these 2 lads at EAG have come to them with a sales pitch and been given a big chunk of an asset for free. Is their “finders fee” really worth half of an asset we have stumped up hard cash for?

Highland - I am quite surprised they can’t borrow to execute the AD strategy. If it is a sensible business plan and we are adding value to assets with a guaranteed income stream then lenders would be falling over themselves.

Same goes for equity. A large placing to fund some big AD deals would work. ESG being so popular and all. It wouldn’t really be dilutive either if it is to purchase producing assets. If anything it is a value add because it secures the long term future and provides an income stream for funding Ruvuma and top company costs.

I’ll be honest - I don’t think the BOD or Gneiss know what they are doing in this space. There is absolutely funding out there for companies with a good proposition in the green space.

Megla - it is done, and deal inked when POO was an awful lot lower.

Upside exposure still in place with zero liabilities.

We don’t have access to the information that the BOD has. We just have to trust that they are doing the right thing.

For example, both assets would have needed significant investment going forward. If the BOD think they can get better or more reliable return on investment elsewhere then that will have been part of the equation.

There would also have been reputations damage pulling out of a deal based on oil price (especially when that has been explicitly allowed for with the contingent payment schedule).

Cairn are cautious so I’m not surprised they have gone for the fixed price option, and gas to play the ESG game.

The BOD and EAG supposedly had 5 deals ready to push the button on??

WTF is going on!

Lol I enjoyed that one MJ - don’t hold back!!

I get where you are coming from but my view is keeping the BOd is death by a thousand cuts. Better to get out with something. Do we really think they can sell Ruvuma, or that any other entity wants to drop $20 million plus on it?? If they had been shown the door after one dyas then things would be better now. I have no doubt.

Is Chris Related to Gneiss in any way?

Just a thought.

Always seems to be “jam tomorrow” promised by Mr Perkins.

MJAPAC

The BOD will not bring value IMHO.

A new BOD should be brought in to relinquish Tanz assets (this has been bleeding the company dry and destroying value through placings for years), sell the rest of the HE1 stake, and take the option to buy out the other 50% of EAG.

All ties with Gneiss should be severed.

AD biogas should then be aggressively pursued if it is in fact a viable business for a public company (I have my doubts…certainly scaling will dilute the top company costs, but these businesses seem like natural small scale enterprises…what value is there in having multiple sitting in a public company).

Basically it is all a bloody mess.