The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
A successful drill should easily get us back into that range. The macro picture for energy is totally transformed since NT2, so although we own less % of the asset, this is balanced by higher gas prices and the general energy crisis. If we strike oil then we will blow past that range IMO ! Been a long (almost 6 year) wait for us LTH since NT2, but it feel great to be gearing up for the next drill finally ! GLA
Really disappointed! Can’t believe they’ve gotten away with it. Who the hell voted for this deal save for the BOD ! They must be lining someone’s pockets to push this through. I’m sure their own pockets are stuffed full of shareholders’ cash.
Big D - hope you can still call an EGM and get an independent review into the account and the voting process. This whole things stinks and the BOD seem rotten to core.
Massive day ! Over 10 years being a SOLO / SCIR shareholder, holding on with the hope of realising at least some of the true value of Ruvuma. Only for the new BOD to try and absolutely shaft us right at the end. Millions unaccounted for from the sale of recent assets and shady connections. This BOD need to be stopped and removed ! I am sure they’ve come prepared as they’re cunning. Good luck BD and all !
You’re doing a fantastic job Big D and much appreciated! It’s clear that the BOD are certainly not acting in shareholders’ best interests, because as far as I’ve seen no honest shareholders support this farcical deal.. the BOD must be held accountable! Really hope we can succeed!
Long term shareholders have been absolutely shafted! So much money and time invested and absolutely nothing to show for it. Back costs not even covered. Couldn't even retain a few % of the asset for future upside. I would have rather seen massive dilution but participation in the drill. I am not sure how this is in anyone's interest apart from Gneiss and WEN.. Appalling deal. Disgusting by the BOD.
Top man Agadem for all your postings which I greatly enjoy reading and your cheery disposition in the face of adversity! A really worthy charity. Fingers crossed for a great result for all of us ! Been a long time coming so hopefully worth the wait ..
Hi Frank, did you offload some HE1 shares to buy AEX, or are you holding out until HE1 results?
Difficult to know whether the annual report will provide a buying opportunity or not. Only if it contains some opps guidance - which misses the mark - I guess.
Hope all are well. We are all getting old waiting for Aminex to do get on with this drill !!!
Thank you CP and BigD for the efforts.
I think nearly all shareholders want us to participate fully in the CH1 drill.
Did you get the impression that they were leaning more for or against full participation?
If suitable offers have not been forthcoming until now. I doubt someone will suddenly massively increase their offer.. I guess that maybe after the 3D seismic the picture might evolve..
Hi BigD,
Hope all is well. Do you have current dialogue with the BOD to understand their current intentions? Seems like this is such a crucial decision / juncture for SCIR that the shareholders (many of whom have larger holdings and have been involved for much longer than the BOD) should really have a say in which direction we take. I’m confident that nearly all shareholders want to see SCIR fully participate in the CH1 drill. After all these years and millions invested in Tanzania, it really would be brainless to sell out cheaply before such a high impact drill. After all, SCIR have got the same 25% interest in Ruvuma (albeit theirs comes with a free carry) and our market cap is a fraction of AEX.
All good here thanks Chris..
Let’s hope for a bit more of a rise on HE1 then, then realistically the BOD could dispose of their shares to fund the Ruvuma commitments until at least CH1 results... if they sell their 25% (or even part) before CH1 spud it would be utter insanity IMO.. and shareholders would be shafted
So a £2.55 million investment now worth just over £600,000... at least something is finally happening I guess. However, someone should be accountable and provide an explanation to shareholders for massively overpaying for our initial investment. No doubt they’ll just blame it on the old management and move on..