Member Info for steve58

Reading into it further.

Monthly retainer fee (unknown).

Fee on sliding scale for any acquisitions or disposals.

Looks to me as if Ruvuma Sale is imminent.

Just a bit annoyed that all these fees are going to them.

Looks like they are having their cake and eating it so to speak.

Evening Chris.

Seems the board are doing everything they can to annoy many long suffering shareholders.

Makes me think what Gneiss are actually doing for their money.

One small biogas business in over two years.

Also if gneiss are doing most of the work what are our board actually doing.

Seems they find a business worth investing in and then get charged thousands in fees by a third party to put a deal together.

I assumed that’s what our experienced board were paid to do.

Well at least Fitzpatrick and Rycroft are on to a nice Xmas bonus.

They are saying that gas price is equivalent to $205 per barrel of oil.

At 5000 barrels a day that would have been over £250 million pounds a year income.

Oh what might have been.

I thought that was the reason he went.

Not very impressed.

Questions were asked about the gneiss fees.

Apparently they ignored them.

Would be interested to know the monthly retainer.

Hope it's not more than £25k a month.

We can't turn the click back.

We may have been mid cap now if that deal had gone through.

What if the deal had gone through and gas prices had tumbled further.

Any investment is a sort of gamble.

Unfortunately our board bottled out too soon.

I'd rather make a small margin on thousands of cow farts than nothing at all.

Imo Ruvuma sale is weeks if not days away.

They cannot wait three years or more for Ruvuma income to grow the business at the rate they have said.

Cow pie and chips tonight.

Morning Chris.

Did seem like a nice little earner.

Probably not too expensive to sort out.

Although we are still owed for gas sold four years ago.

The board have the cash to continue to hold up to drill.

They will probably exit at that stage.

Wasn’t a calculation of $400 million mentioned.

How can it possibly be worthless.

Not yet monetised but even without spending another penny on it is worth tens of millions.

Imo they will sell after 3D results.

A good week for the sp.

Have a good weekend.

Rain tomorrow so indoor gardening.

Tomato plants out.

A good week for the sp.

Have a good weekend.

Rain tomorrow so indoor gardening.

Tomato plants out.

It still depends on what the next move is on Ruvuma.

Complete/Partial sale or keep until drill ready or even to production.

I thought for a minute you were going to say you wouldn't want to be out of this over the weekend.

Most of the old 6p Vegas club are still here I'm sure.

Shouldn't that be the £1.20 club.

3D results could easily double the asking price.

As would be drill ready.

Still holding about 8% so could generate over £1 million a year income if memory serves me right.

Just topped up now holding over 1 million here.

Rns yesterday did mention that lots of potential deals were being looked at.

Business should be multiple the size it is now in a relatively short period.

Imo unlocking cash from Ruvuma will be the catalyst.

Morning Chris.

Hopefully the start of something substantial.

£25k a month income.

Keeps the lights on at least.

More deals in the coming months!

Very disappointed with sp performance or lack of.

Crushing rock and smelting should be easy.

Fundamentals here showing net asset value at 2.33p (Dec 2020).

If that is the case we are due a very large rerate.

I pay £6 a transaction.

Hopefully sp will react positively.