Member Info for ShouldveSold

Scirocco has been a labour of love Sharepicks. Long term holders have learned some very costly lessons with investing in fairytale stocks.

Be careful with your investment here & lock in any profit that you might make over the next few weeks.

I know but some sometimes a loss is a loss and the only thing one can do is mitigate the loss. Got to know when it's best to start afresh on new ground rather than trying to maintain a bad crop with contaminated earth that will never produce good crops. Apologies for the analogies :)

Don't do it to yourself Steve lol. !!!! Got to let all that past crap go to stay mentally healthy.

Any money that I have put aside for investing that could of gone into Scirocco, I have been accumulating Angs & now Alba has come back as a no brainer for me. Some global giant company will eventually have to buy that graphite mountain in Greenland from Alba/Groc. And gas prices will Always go higher every winter with the addition of storage for Angus. There will always be other opportunities to recoup the losses we all have on Scirocco.

I don't believe so Steve. What is there to purchase? Scirocco is a 4 man directorship with zero employees. It owns 50% of a AD plant. At the moment, it's just a badly run fund. What company would buy a fund?

Well the talk is that Scirocco are no longer retaining Gniess services. But I haven't seen any documentation confirming this. Even with the 2 newly appointed Board members, I still don't think Scirocco has the expertise to handle all new business in house. So it's possible that even with 3 AD Plants in ownership & opertatorship, that Scirocco will still post a Full Year loss.

I certainly won't be sticking around for that possibility lol. The Board have yet to prove to me that Shareholder return is something that is on the agenda.

If the initial £3M will double Scirocco's market cap, then I can see 1.2p a realistic SP. If another payment is received by April 2024 then 2p is certainly possible. Depends on how they deploy that cash & of course the energy prices over the next 6 months.

It's my understanding that all the income from the AD plants goes to Gniess for the first 15months as a golden handshake and then fee payments on top, so Scirocco made a double whammy loss on the purchase. They may have an agreement that they also get a cut of any new business. I believe that is why the market wanted nothing to do with Scirocco.

I guess its in the Board's hands whether they still want to run it like a nice little earner for themselves or whether they want to run a successful investable business going forward.

Lol indeed AA. Scirocco is not out of the woods just yet. The Board has been stepping in a good forward direction. I'm still waiting to see how they run they company without the Tanzanian noose around the companies neck.

They could still do something bonkers to undo Scirocco's potential. JF might show up again wanting a slice of whatever is to come. So I am not going to count any chickens just yet.

I can't see a ROI for me with Scirocco, based on the new business model. However I can see within the next 2 years, that I will be able to mitigate my losses & get a lot closer to break even. I'll be happy to completely sell all my shares with a small loss. I see it as payment for my stock education lol

Yes mine was close to that, but over the past 2 years I have taken the opportunity to reduce my average due to the diversification every time the sp hit .25p so I may be sipping Piña colada's before you lol.

Steve I admit I am not a tax genius so don't know. But I have never thought a tax bill is payable on the £16M sale when Scirocco has made a loss on the time & money invested in Ruvuma and also only set to recive £3m for the sale.

As HM questioned; would any further payments be classed as revenue/dividends? Or would all tax liabilities now fall to ARA. Hopefully a Sale Completed RNS will clear all this up.

My break even point has just moved a pigeon step closer :)

Happy days. I'm gonna need a new drawer.

LOL agreed AA. It would seems as though neither I or blackgold have an clue about the tax issue.

To assume Scirocco has an issue with a sale because Aminex had an issue with the Farm Out I don't think is warranted. Unless of course Scirocco detail it as a ' cause of concern ' or deem it as market sensitive news.

Separately, if the SP is touching .8p 3 weeks before a possible deal completion and Scirocco's market cap jumping with the initial funds. I think I'm going to have to revise & increase my SP expectation & new floor.

Unless of course the Board take the opportunity to issue some share for wages, bonuses & working capital lol. It would be rude of them not to.

Blackgold, I think I understand the point you are making now.

Because Aminex questioned if CGT was payable on the Farm Out, you believe Scirocco will have a similar challenge with the sale. Have I got that right?

And just so this doesn't go round in circles. Can you post an excerpt from a Scirocco RNS where they detail the dispute on the Ruvuma sale.

"Obtaining tax clearance" sounds significantly less hostile than a dispute blackgold lol. I wish you would have posted this yesterday.

Mrc I wish you were present yesterday. Do you have the juicy gossip on the Tax dispute between the Tanz Gov & Scirocco?

Blackgold, are you an older relative of mrc by any chance? Seems like there is a lot of bad news information you are applying to your view of Scirocco, which I am not aware that is currently being disputed.

Lol ok, well if we can't have a little banter & a sense of humour about things, then it's a sad place to be.

I wonder what this tax issue with the Tanz Gov could be. Any ideas?

For the record AA, that whole exchange was me having a little banter lol.

I'm going to speak to mrc & get the juicy details on the tax issues :)