Member Info for ART123

"Management and certain insiders of the Company plan to subscribe for new common shares in the Company at the Placing Price (the "Subscription"). An announcement pertaining to the Subscription will be released by the Company in due course."

This has been added in the replacement RNS.

Mr. Arthur Millholland, President and CEO, commented: "The proceeds from the placing will be directed towards on-going general expenses, which covers our qualified technical team and in-house Counsel. In strengthening our balance sheet, we are able to continue to focus on securing a financing package for the highly prospective OPL 226 project offshore Nigeria. As previously announced we are in late stage discussions with an oil service group and we look forward to updating the market on this is due course."

Funded for 12 months. My average is now 0.35685p. What's not to like here.

The shareprice here was around the 0.40p level before the exploration target for the Sharktooth peak led to a serious re-rate and I could now see this returning to those levels while they have nothing to show for the drilling so far.

They also drill very slowly as someone sensibly pointed out a week or so ago. SOLG also do these long drills but they get through them at several times the speed.

I think there would be some copper there. They have recorded zilch. The whole Sharktooth prospect is an assumed target with no drilling history at all. The deposit may quite simply not exist..

That was the first of 3 planned and funded drills into the Sharktooth mountain.

This has just been an exploration target with a ludicrously huge potential copper deposit at a high grade of 1%-1.75% but the problem is that this has only ever been assumed and there are no actual drill results to show that this deposit actually exists at all let alone in the size and grade predicted.

There may equally be nothing under the mountain at all - as today's results seem to infer.

I got lucky. Just done my sums and I lost GBP477 after fees on 1,000,000 shares. That's not a bad result. If I was selling now at 0.73p I would be over GBP5000 adrfit.

Without Sharktooth the rest of this deposit is not even worth the hike to reach it.

It's a tiny, low grade copper prospect with no viable reason to ever even dream about taking it into production due to the remoteness and inaccessibility.

This lot are a complete washout. I remember they kept the market waiting a year or 2 ago for a JORC that was basically a waste of time and now they have no copper or gold at all after all this waiting.

Really dreadful. I got a bit lucky as I got bored with waiting this morning and sold half my holding and have just shifted the rest for about a GBP500 loss altogether which is not too bad.

To be honest without Sharktooth this is a bit of a waste of time anyway and if that isn't there after all then they might just as well walk away.

5 weeks spent waiting for assays results that show nothing and only about 50 metres more of drilling done. And now they are off on another half-arsed drill into the same duff mountain.

Very poor effort. Very poor company.

No wonder I couldn't make head or tail of all the complicated jargon. SOLG did the same a few years ago but at least their RNS's were accompanied by photos of the core which clearly showed the copper mineralisation.

Zero shares traded here so far today - yes that's 0 shares - which just about sums up the excitement of these 2 acquisitions. What a load of tosh.

This is definitely my worst share ever. I don't normally ever get involved in shares that are this bad. Still there's always a first time.

What has happened to the cobalt in the DR of Congo. I believe we were told the management are the real experts in that territory. That should have been quite a large enough project, especially as ABM still hold their iron ore and gold licences in Sierra Leone.

The last thing this company need to do is to take on any more ify and expensive projects and as for buying anything from Two Shields (Ex Blenheim Natural Resources) which is an equally worthless piece of junk stock with equally worthless junk assets in yet another country ABM should know better.

The other acquisition appears to need GBP600,000 spent on it prior to December 2018 making it a similarly very expensive and useless acquisition.

To fund these acquisitions they are issuing another 7,202,000,000 shares, more than doubling the existing 6,455,536,315 shares in issue and then reducing the whole lot by way of a 100 to 1 consolidation to 136 million shares. No doubt the 3p share price will soon be working its way to 0.03p via more placings as the shares in issue soars back to previous levels.

Dreadful share, dreadful management, dreadful company.

And I'd still like them to get a move on with these first assays. The market doesn't like to be kept waiting. If they give a time estimate they should try and keep to it.

Okay I've just watched the presentation again and see where the lower/higher figures are coming from. I remember watching that when it first came out. Seems to be a while ago though.

What we need is to see some assays, and preferably for hundreds of feet/metres, with grades of 1%-1.75%. That is when this will start to re-rate to a much higher m/cap.

Eyeguy

I'm not sure where you are getting those figures from. I'm still looking at the M2-Sharktooth exploration targets as given in the JORC resource upgrade of 12th June 2017. Have there been later updated figures?

These are the ones from that estimate:

Table 2: M2 Sharktooth Zone - WTC Estimate of Exploration Target

Tonnage Range - 87,100,000- 116,100,000

Grade Range (%) - 1.00 - 1.75

Contained Metal Range (tonnes) - 871,100 - 2,031,750

This was quite happily 1.70p+ before the placing on the 3rd July. And that was with the current drills and assays that we are still awaiting.

Well by the way the MM's are increasing the buy price with every trade I would say the anticipated RNS with the assays is imminent.

The management can bring out an RNS at anytime of the day. Occasionally they will be out at 7.00am but more frequently they will pop out at any random time am or pm.

Excellent RNS. Well done Mr Sanderson. He's in my good books again. I love UKOG. Another nice profit in the bag from the shares I bought yesterday at 1.72p.

aidan1970

Hi, can you confirm that Table Pouncer is now part of Big Dish. It had been mentioned on here and also in the pre-IPO presentations as a plan but it wasn't made clear in the Admission RNS.

Cheers

Yes but before the drop the shareprice rose nearly 200% in about 3 weeks.

This is holding up well considering the assays are a bit late.

Looking at today's trades the buys/sells accounting seems to be pretty accurate so there are over 4 million buys and less than 1 million sells - that's counting the last 3 trades - 2 @ 1.3089p and 1 @ 1.31p - as buys as I'm still only getting 1.29p to sell (and even 1.27p on my IG ISA - who seem to want to give worse rates than anyone else at the moment).