Member Info for ShouldveSold

What part of my last post do you disagree with mrc?

Well you say that SP, but Scirocco has made a profit under his tenure from HE1, divested & gained a completely new revenue stream, set up a joint venture partnership & got the company to the brink of cutting all its dead weight liabilities.

Agreed that it's a lot of money to pay someone to run a company. But Scirocco has progressed. He has achieved more than any other chef exec the company has had in my opinion.

*landed on Snake*

It's difficult to take anything positive from today's year end RNS unless one is horizonally focused.

Scirocco is still managing to operate under the thumb of the legacy bull crap.

A big income jump though from last year & a sizable reduction in full year loss, although still very high. I was expecting better numbers but I'm guessing those better numbers are being held back by this Ruvuma sale completion.

I am hopeful that the 1st of September 2023 will be a pivotal moment & that will be a rebirthing date for Scirocco. I am looking at this as I now have 7 weeks to reduce my average.

I have no idea of what the companies financials will be like once the Ruvuma sale has been completed. But I see no reason why Scirocco won't be in a much stronger position going forward.

This is like a Snakes & Ladder scenario and Scirocco has landed on a Ladder and will slide all the way back to 2008. Let's hope they do it right this time.

The MM are just having some fun today for their own amusement.

One could attempt an LBO for £20k lol

Steve had the Ruvuma Sale to WEN gone through and initial funds be completed, Scirocco may well have purchase 1 more plant & securing a 3rd by now. The Tanz gov literally have had Scir dangling by a thread for over a decade now.

We can all point fingers at whoever we think are responsible or should share blame.

The equivalent barrels of oil production forecast is very optimistic and a dream cast scenario lol.

I am hopeful that at least the Ruvuma sale will go through this year. But who knows whether it will or whether the 2nd & 3rd plants will even still be available to purchase by that time.

Even if Jesus was the CEO of Scirocco, I think we would be in the same position.

Allenby, from my understanding, all the Directors have a large percentage of their salaries deferred in lieu of share allotments. I'm pretty sure this info is in the Final Figures RNS.

I think once Scirocco is in control of its own destiny & its no longer in a Tanzanian hostage predicament, the companies growth will no longer be stunted.

We will then be able to judge the board on progress & the SP.

Nice to have an indication that things have actually been progressing. Will be nice for Scir to be freed of Tanz & can move forward.

AEX available to invest in for anyone thinking Scir is walking away from a potential behemoth.

I am hopeful of seeing a net profit for the time time when the full year figures are released or at the very least the smallest net loss ever recorded. So I don't think it's game over or anywhere close to. But saying that I don't only have a doom & gloom lens to view Scirocco through lol

Well said lol. And the Tanz government isn't even allowing them to sell & get out of Tanz lol

Welp when the SP hits .25, I will be buying £10 worth of shares a week lol.

I understand the furore but the delay has nothing to do with Scirocco. This is all down the the Tanz gov. Now what would shift the fundamentals for me again is if EAG now partner with another company for equity or finance causing Scirocco's share to be diluted. Then Scirocco will slip back into the bottom drawer & I will not be reducing my average.

Hi Steve,

Yea I don't recall any paragraphs detailing penalties or defaults. Though they may not have thought it prudent to include in an RNS. Surely these things are baked in as standard contractual procedure.

As ever, the Tanz can dictate and delay as much as they want as it suits. Just wondering whether legally Scir has scope for clawbacks or financial compensation or whether the deal reverts back to WEN if things don't progress (if Wentworth hasn't completely walked away)

Thanks mrc that is really informative & helpful.....

Year end is also 5 weeks away. Maybe that has something to do with making things easier. *shrugs*

Only 5 weeks left before either deal completion or announcing another 3-6month delay. I will take the opportunity to reduce my average if this hits .25 again.

I wonder if there are any contractual penalties in the deal if things aren't completed by certain dates. Can anyone shed some light?

Lol here we go again. Let's hope this time they open the data room & charge £1million a day for farmers to get a look see.

News tomorrow?

The arrangement with Gneiss has been terminated? When did that happen? Did I miss a paragraph in any news?

Some bad news I have actually overlooked and not taken into account is the Gneiss retainer will either expire or be renewed in the coming months. That could annihilate the SP.

I think traders are just profit taking. The SP has rallied 100% over the past couple of weeks. Got take profit whilst it's there. The fundamentals are still there to see it push higher.
With a 2nd installment possibly being received by year end from the Ruvma sale, there isn't really any bad news to factor in. Other than another delay of the initial £3M.
As long as the funds are received and the further purchase of the next company goes through. The recovery of Scirocco's SP is finally underway.