Member Info for ShouldveSold

Blackgold, either the deal gets done or it doesn't. The SP will react accordingly. Nothing I assume or hope for will have any effect on what happens.

I have had about 7 years to come to terms with the fact that I may not see any return on what I have invested in Scirocco. But that's the stock investing gamble. We live & we learn eh? Good thing that was money I could afford to lose.

Go to YouTube and search "Wayne's World Dissolve" lol that 0.07 second clip is what I am experiencing right now with you blackgold :)

Hoping for one of mrc's challenging C.Perkins posts from 2015 now for a little distraction & redirection to be honest lol.

Blackgold, you not knowing would explain your assumptive posts around midday.

Chin up fellow, it might never happen. But if it does, then I'm sure we can collectively donate a little bit to help pay the £6.25M.

Blackgold would you say that any cash calls or drawdown of the funding facility would need to be announced to the market via an RNS?

:)

So Scirocco needs to pay £6.25M on Aug 31st?

How much are the cash calls blackgold and when are they due?

4 weeks to go.

This hasn't dropped to .25, which was the point I set to reduce my average. So whatever happens going forward now, it is what it is.

I think if the deal with Wentworth would of went ahead, it would still have taken the same amount of time & Scir would still be waiting on that initial payment.

Anyways, onwards & upwards. Maybe in this case this is completing a 4 year long side step to allow a forward movement. I am hopeful that by October, which will be 2 years after announcing the diversification, Scirocco will have the funds to execute this string of AD acquisitions the Board have been talking about.

I am running with the assumption that if the sale doesn't complete or ARA backs out, that some kind of financial penalty, similar to the One Dyas deal would be due to Scirocco.

I am also allowing a realistic expectation that another extension could be announced.

If the deal doesn't get done, it doesn't get done. Im not going to lose sleep over it. If it does, then happy days.

I am hopeful that a new SP floor will find itself around .8p & this will start to creep up when new deals are announced.

Grrrrrrr mrc Grrrrrr lol any new valid company based info or opinion you'd like to debate?

:)

If mrc wants to spend time heckling, pointing & making fun, so be it. I've become immune to it to be honest lol.

AA we live in a free & democratic society, we are all free to comment here regardless of investments. May I suggest you try to not take comments personally & just see them as differering opinions. Its less stressful trust me lol.

In my opinion, this is not about who right & who is wrong. The SP will behave accordingly regardless of what anyones opinion is. The important thing is to get on the right side of the trade & make a little return.

If that happens with Scirocco, great. If it doesn't, ok. Sometimes you lose. A balanced portfolio will even things out in the end :)

That's a lot of 'what ifs & variables'.

To take the view that ARA see Scirocco as hostile or an unworthy partner when Scirocco hasn't done anything (that the market knows about) is not something I am doing. Being as ARA don't do anything public, who knows what they are thinking.

All I know if the Tanz Gov has operated this way before ARA joined the party. They have always moved slowly. Its my understanding that they don't have the governmental expertise as this is all new to them and they don't want to be screwed by having their assets stripped. I don't blame their cautiousness. But I am over frustrated to the point that I want Scirocco to cut all ties with Tanz. Even when the field is producing I still think there will be payment issues, so I happy that Scirocco will cut the dead weight, including HE1.

It was only in July that all the parties involved has agreed to the deal, so it should now just be a matter of final governmental sign off. Will that happen before September? Who knows. Could it be delay again..... absolutely.

The last cash call I recall was for the Siesmic. Being as things in Tanz move at a snails pace, I wouldnt of thought any more cash calls would be required from now till deal completion.

Even though the Tanz Gov is being more vocal about what they are trying to build for the future & export, they're still twiddling their thumbs and I suspect still will be this time 2024.

Will Scirocco even receive this initial £3M by then? Who knows. I like to believe the deal will be executed by the end of August, but another 3month extention is 50/50.

I think the 10billion share allotment is to cover his salary when he gets reelected.

Mmmmm I can smell the dangled carrot now

:P

10 Billion new shares? Lol

Don't want to go round in circles here lol.

All that stuff that is in the past, I leave for you to put energ in to. I'm not gonna spend any time fretting about it. The company is moving forward from what I have read. And I support its efforts in to trying to find a new revenue stream.

From the 1st September 2023 I will judge the board's & companies performance and comment accordingly.

As long as the company is run well, it makes good business decisions generates revenue & offers a return to shareholders, I can accept that board members reward themselves & grease the wheels.

Cool.

The way that I see it is Scirocco held a few assets which wasn't delivering any return. Fine if the plan was to sit on them and wait indefinitely till things all work out. But I think waiting 10 years and still not having realised the full value is pushing the boundaries of patience.

I'm not someone who holds onto the past & if only's. Yes the company could of performed better made better decisions and been more focused on delivering a better performance & share price. But the Board members who were more concerned with lining their own pockets are no longer with the company. And my argument will always be that the Tanzanian Governments inaction has determined the progress of Scirocco. Not the inaction of the board.

Once Scirocco is completely free of Tanz, its fate is in its own hands & its performance will be unrestricted. If Scirocco spend the next 10 years faffing about with AD & the share price is still around 2008 levels ok I can understand your view of the company. But I don't have that view.