Member Info for ShouldveSold

And being as EAG business & financial transactions do not need to be released to the market, we have no idea what deals (if any) they have done with Greenan, its directors or any other company.
Unless T.R becoming a director of EAG chooses to release this info, we will never know.

I already voted :) I don't ever recall expressing shock. I'll leave all the stressing about whose getting a good deal to you lol.

Funny thing is, we nor the market will ever know because EAG is private lol so it really doesn't matter who owned what or who paid for what with what money.

I may very well be wrong. But it still makes the most sense to me. I don't understand why Scir would buy and own 100% of Greenan if that wasn't the case. Why would Scir give EAG half the money so they can buy half of Greenan. Unless EAG already had an equity stake &/or own equity stakes in other businesses in the pipeline & so that's where their value as a JV partner comes in.

I think that's exactly how the deal is structured; hence the "shareholder loan".
EAG may have a provided funds to Greenan through a convertible, and now own a percentage. The could have leveraged that in this deal as a buyout.
The details doesn't say how much EAG have paid for their 50%. So I am assuming they already owned 50% or close to that percentage.

I do see any details on EAG paying anything. So it's the only thing that makes sense to me.

Its my understanding that because EAG is a private company, any financial details aren't public information. And so there wouldn't be any details available.

Yea I'm sticking with my assumption that EAG already owned a stake in Greenan through debt. And this deal is structured so EAG gets some return. Either way, it doesn't really matter to me who gets/got paid. All I am concerning myself with is how much income will be generated month on month.

HM I am no rocket scientist but I like to think I have a basic understanding of a lot of things. To me; the structure of the deal isn't clear. Its cool you understand & have tried to explain it, but I think you are the only one who does understand it.
I don't really concern myself with the day to day running of Scir or who's back gets scratched. I just want to understand the financials. And at the moment; even though they are there in Black & White, I am still confused.
Its my understanding that EAG is a private company and so their financials aren't & won't be available to the market. And that is where I think my confusion is rooted.

Someone got a heads up

I am now guessing EAG being a private company has a lot to do with the non transparent deal.
Also that EAG must of already owned a stake in Greenan; probably through convertible debt. Which is why the transaction & structure is confusing.
Does this make sense to anyone?

Well I'm glad you understand the deal HM because my understanding has just gone back a step.

I have read the deal as costing £1.2M in cash which Scir has & that EAG gets a free ride.
The £1.9M is a loan with a 10% interest rate. Which looks like covers the £200k in costs.

I don't know if any questions drilled down on this deal today. Can anyone who listened shed some light?

Just re-read my post & it does read as though I am saying next year Scir will post a net profit. Thats actually not what I meant, I was saying it would just be nice to reach that point.

As for leveraged, I was of the understanding that this was an all cash deal from current working capital balance.

I still haven't listened to the podcast yet so I don't know what was said, even if it was just a rehash; I would like to hear the questions submitted & answers provided.
As I understand it the deal hasn't been completed yet so anything can happen. But my confidence in the BOD is growing. The way I am looking at this is, instead of waiting till 2025 for cash flow. Its now weeks away.
Scir will now have an asset it can leverage or borrow against & has will have an income which can provide so Capex.
It will be nice to see year end statement where Scir is actually making a profit.
I don't know what there is to be downbeat about.

Yea thats basically what POC said.

Being as first revenue is expected in 2025 from Ruvuma, this diversification may be generating more reliable cash flow by then.
I don't want to get ahead of myself or sucked into a fairytale but cash flow is cash flow. If this opens the door to more deals or provides a solid platform for financing, it gets a thumbs up from me.

I don't believe commercial production is years away. In the last video GF did say he was looking at gold production ASAP.
I would be surprised if a production licence application isn't submitted or granted in 6 months time.
If GF extends the exploration stage a further 6 months then I will reassess. I don't think the SP will be able to sustain if he does though.

There is normally a bidding frenzy when acreages are up for grabs. Being as that hasn't happened, what POC has said sounds more accurate to me.
Anyways, I don't wish to reignite the Farm Out debate.

Bo this was my assumption but as I said, I have little knowledge on the subject.

Cheers understood.