Member Info for steve58

Thanks for that.

Gives me a bit more confidence.

Mid cap within 3 years.

Could still happen.

It would only take two maybe three big deals.

Morning Chris.

I know I may go on about the complete lack of any progress but it is very concerning to shareholders.

Silence is certainly not golden as far as solo is concerned.

At least the weather is at the moment.

Great for the tomato plants.

Have a good day.

It is now nearly three months since the aborted deal.

I know it has been a very difficult time the last few months and for months to come.

The problem is we have an experienced bod that have made promises.

Instead we have had nothing

It seems we have a virtual bod.

Even an update of some sort but nothing.

Annual accounts should make interesting reading.

No income no new investments. Basically just roll the date forward a year.

I assume fees and other costs still being paid.

The board may well be working on a new deal or deals but nothing in over a year is very worrying imo.

Maybe the farm out sale of Ruvuma is holding things up.

Overall I think long suffering shareholders deserve better than what they are getting.

Morning Chris.

Sure hope something happens here.

Hardly a word from the board in 7 months.

I assume they are actively working hard on their strategy.

At least weather is good and lockdown being relaxed.

Imo once farm out agreed we will sell our entire stake.

Tanzania is just too slow all round.

I suppose we should deduct proceeds of Horse Hill and IOW investments. About 4.5 million pounds.

So net fundraising about £27 million pounds.

Maybe Ruvuma can be sold on for that without further capital raising for drilling etc.

Have a good weekend.

No not until at least 20p.

Have a good weekend.

Complete lack of communication from the board is dreadful.

So much for strategy. Even some sort of update would be better than nothing.

Imo ruvuma will be sold once the farm out is complete.

That is probably what is holding up any future deals.

I would not think a large deal such as the aborted one will happen as another suspension
would not go down well with shareholders at the moment.

Even a small deal bringing in 50k a week will do.

We have no income cash diminishing.

Doesn't give me much confidence in the new board at the current time.

I would think anything north of £50 million would be a reasonable amount.

We could of course farm out half receiving a smaller sum including half of our costs so anything north of £25 million. A free carry of 10 to 12.5% would be ideal. £10 to £15 million for further investment and £10 to £15 million by way of a special dividend.

Not asking for much but after all these years of waiting I think we deserve some return on our investment here.

Morning Chris.

I would expect much more for a complete sale.

The silence from the board is uncanny.

IMO must be working on a substantial transaction.

However, another prolonged suspension is not something anyone wants at the moment.

I’d rather have a small investment and have some income coming into the company and build on that.

Thanks for that.

Maybe the board need a gentle reminder that shareholders expect a lot more than just promises.

Even an update of some sort would be a start.

IMO their strategy is dead in the water at the moment. It is just not good enough.

Over a year and one aborted deal.

That just about sums it up.

Agreed. Awful to say the least. Lining up for interviews last October.

Since then nothing.

Even nr have more time to investors with interviews even if he did go on about the seed investment in Morocco.

We have him to thank for all our current investments and nothing of note to thank the new board for exempt disposing of horse hill.

Lets hope they sort something out and soon. They have had plenty of time to do so

Even a small deal would be a start.

It could be that the monetizing of ruvuma is the only thing holding it up.

Agreed. I’d rather we had a tidy sum in the bank now than wait many more years to earn anything like the sum involved. Take the money as soon as possible further investments that generate income from day one and return some to shareholders. All imo.

Sounds a feasible outcome.

Weren’t we promised a special dividend.

All the more reason to monetise soon.

Of course it is a buyers market regarding investments at the moment.

At least I can’t be accused of that.

Would have been good but afraid I’m in until mid cap status or at least 50p a share is achieved.

Probably another 8 years at least

A complete disposal of Ruvuma would certainly speed things up.

Interesting point.

The question is how much would they pay.

The cost of drilling is the same whether we are involved or not. The only difference is that we would not have to pay our share. IMO the board would be very interested at a complete disposal in excess of $50 million.

Sp on the up again today.

Good morning Joe.

Very frustrating at lack of any progress by the new board.

I have been here since the reef days when the company was valued at over 40 million pounds if memory serves me right.

Let’s hope the boards strategy pays off. Mid cap company in under 3 years. I have my doubts.

Morning Chris.

One step closer.

Three weeks to get a receipt.

Now passed on to yet another department.

I am very concerned by our own lack of news regarding further investments.

The board did state a few months ago that smaller deals were being looked at.

Annual results due soon. Not sure if they actually have anything to talk about.

Would be an interesting play for solo.

Not in Europe however.

Trying to find their market capitalisation no luck.

News tomorrow maybe.

Good luck.

Just over 900k myself.

Early retirement hopefully.

Listening to the interview looks like at least another two years at least until income.

Of course that is if the production licence is granted by then.

I see our sp is dropping in sympathy.