Member Info for ShouldveSold

I am concerned that Alistair & the boys have done a SBF and fled to the Bahamas with that payout.

Cheer up Steve, the CNA dividend will be paid in a few weeks :)

Well look at that; first there was news on the perf guns being sourced & now PPP is set to resume trading. Months of spitting feathers when bottom drawer patience was there as an option lol.

In the time that I have been using this LSE site for the chat boards mrc, I don't recall ever reading a post where anyone was happy with the BOD. In fact I have only ever read the opposite. So I am confused by your post.

Yes I have read 'Well done or congratulatory messages for milestone achievements but not an overall happy with the way Scirocco has been run.

I think the quicker everyone accepts mrc has no intention of doing what he said he would do, a lower amount of animosity will be carried forward and the topical chat can remain on Scirocco.

This is a very accurate summation of Scirocco.

10x less lol? I meant one tenth the cash balance.

Mayhe the MMs have learned that Scirocco has paid out £2.25M to settle deferred salaries & performance related bonuses to Board members and the real cash balance remaining is similar to what it was pre-sale completion.

The MMs valued Scirocco higher when it was struggling to sell Ruvuma and had 10x less the cash Scirocco now has in their account lol.

Comedy

Ah, you did indeed say loan notes. Apologies for misreading & misquoting.

Mrc, that first sentence in your reply doesn't make sense in my opinion. If a company has only ever been able to secure 'death spiral finance', then wouldn't it be a miracle for that company to become debt free?

The history of Scirocco is clear which is why the market has wanted nothing to do with Scirocco since the KN1 shut in.

To come through 6 years of b.s debt free, I think is worthy of a pat on the back.

A pat on the back is certainly in order. The current board, despite some frivolous financial shenanigans have managed to cut all the dead weight Scirocco has been carrying.

To be a debt free liability free company is an achievement. The Board now has a clean slate, the company has been zeroed and they can actually steer Scirocco onto the path to profitability. Or the can repeat the same mistakes & flitter away a positive cash balance on G&A, fees & buying into business that won't return a profit for years to come.

Until they outline how Scirocco will achieve that, I am still committed to selling 100% when the Shareprice climbs a enough for me walk away with my tail between my legs.

If the Board members are reading this, please outline a path to profitability & how long it is envisaged for that to be achieved.

Nice to have the official sale completed.

I was expecting more of a uplift from the MM but they obviously think this changes very little for Scirocco.

I was hoping to sell 50% of my holding on this news but I'm now going to have to wait for either the 2nd payment or deployment of cash news.

It would have been nice if Scir outlined a deal it can now advance with the proceeds. Maybe that news will come over the next 6 weeks or so.

Based on today's news, whether Pin-1 has commerical oil that will flow or not should be known by year end.

What a long punt this has turned out to be.

Seems to me that just like Scirocco, ARA are sitting ducks and the only people who are dragging things out is the Tanz Government.

T.R did made this clear in the last webinar mrc but I know you know this :)

Lol zero credibility or integrity, that's poor form on your self imposed exile mrc. But hey this is a AIM chat board and so no reason why we can't also over promise and under deliver lol

I find it funny that even a reply to this or an acknowledgement would be a breach of commitment lol

That's the plan

In my opinion, Scirocco hasn't shown the market a viable profitable business plan. It has just made claims that if it owns assets in the renewable space, it will eventually have a £30M enterprise value lol

I think market sentiment is reflected in the shareprice.

After a spike on a "funds received" RNS, I can see the shareprice returning to current levels.