The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
According to Edison, ALM are due to release a Trading Statement in February and Full-Year Results in April:
https://www.edisongroup.com/publication/meeting-of-minds-with-shareholders/25820/
Article on Free-Space Optics includes BridgeComm:
https://www.lightreading.com/is-it-finally-time-for-free-space-optics-to-shine/d/d-id/757177
Trading statement for ALM should be published in the next week or two so hopefully good news on progress in general.
Per 2018 accounts: Average number of staff (excluding non-executive directors) employed throughout the year was as follows: By the Company: 2 (Head Office most likely), By the Group: 23 (Subsidiaries including mining ops). Plus subcontractors as required as you would expect in the mining industry.
https://www.lse.co.uk/rns/EUA/eurasia-mining-plc-annual-report-and-accounts-jovhs3fxz9zwk4w.html
Yes, bought back in this morning. Great news indeed. This excerpt from Crystal Amber's January NAV report shows the potential value in Federated Wireless; BridgeComm and Spin Memory have definite potential as well. It will be interesting to see how long it is before a sale of the stake (35.81%) in Federated Wireless is announced..
"Allied Minds' shares trade at around a 40% discount to the Fund's estimate of its NAV per share. Its current market capitalisation, excluding estimated parent-level cash, is around $67 million, which is less than the value of the stake in Federated Wireless alone (as implied by that company's fundraising round in September 2019). Allied Minds also owns two other sizeable holdings in Spin Memory and BridgeComm, both of which have raised capital from third parties including strategic investors, as well as three smaller investments."
https://www.lse.co.uk/rns/CRS/monthly-net-asset-value-kh8i1spsq9rzx78.html
Not the same Neil Hannon, I think our poster is a fellow Scotsman. Love the lyrics from National Express by Divine Comedy though, here's to cheer us all up a bit:
Take the Tullow Oil Express when your life's in a mess
It'll make you smile
All human life is here
From the feeble old dear to the screaming child
From the student who knows that to have one of those
Would be suicide
To the family man
Manhandling the pram with paternal pride
We're going where the air is free
On the Tullow Oil Express there's a jolly hostess
Selling crisps and tea
She'll provide you with drinks and theatrical winks
For a sky-high fee
Mini-skirts were in style when she danced down the aisle
Back in '63
But it's hard to get by when your arse is the size
Of a small country
We're going where the air is free
Tomorrow belongs to me
When you're sad and feeling blue
With nothing better to do
Don't just sit there feeling stressed
Take a trip on the Tullow Oil Express, the Tullow Oil Express, let's go
https://www.youtube.com/watch?v=-Fw73dBJGss
Articles on Palladium in the Financial Times in the last day or so, worth reading. Copyrighted so can't reproduce in full unfortunately.
https://www.ft.com/content/1634d184-3cfa-11ea-b232-000f4477fbca
https://www.ft.com/content/db1eafd8-1e38-11e9-b126-46fc3ad87c65
On further reading, I can't be so sure a withholding tax doesn't apply here too as the dividend payments may be decalared as have arisen in the USA (Boston based).
I've e-mailed the company on this question and will post their reply.
I think Ferrexpro are Swiss registetered, so there might be extra taxes? Best to check with the company for clarification.
Allied Minds PLC is a UK registered company, so the dividend will be subject to normal UK dividend tax rates (2k tax free, 7.5% basic rate, 32.5% higher rate, nil if in ISA). You don't have to worry about withholding tax/ double tax relief, etc.
https://beta.companieshouse.gov.uk/company/08998697
From what I can see, none of the new license applications from any party mention Uranium - perhaps understandably as who would want to jeopardise successful application in the current political climate?
"The first target for BKY is located 50 kilometres from Retortillo, which has already been mined for high-grade lithium and tin and contains significant cobalt anomalies.
Alongside its three recently announced new Spanish exploration licences, Berkeley Energia has also been awarded a 31 kilometre squared licences containing former titanium and lithium operations. It is next to an area already being drilled under Berkeley Energia's present programme."
Development of any of these to fully fledged mines would require an Urbanisation License to permit construction of the mines and ancillary buildings. This perhaps may prove easier to obtain for non-uranium projects....
https://www.morningstar.co.uk/uk/news/AN_1561459649708289400/berkeley-energia-starts-initial-drill-programme-at-spanish-licence.aspx
Not for Uranium, but for gold, rare earths, lithium etc. The Junta de Castilla y León have applied for a mining research permit for Villasrrubias, which is about 50 miles from Retortillo. I would therefore presume that issuing permits for BKY's and others' explorations would not be an issue. The JCyL no longer have a PP majority..
https://www.lagacetadesalamanca.es/provincia/la-fiebre-del-oro-vuelve-a-salamanca-MB2012871
"I think the decision leaves Castejon (as a Podemos MP) on the CSN, although I believe there's a PP member too."
Spot on, flundra. I think proceedings were brought by the PP - at least BKY saw that any money spent pursuing this case themselves would be wasted. No news about the CSN report either. Mr Behets still seems to be in temporary charge at the moment. When's the next general election then.......
The Supreme Court has rejected the appeal against the new appointments for the CSN, one of whom, Francisco Castejon, is a well known anti-nuclear campaigner and former leader of Ecologists in Action. Unbelievable.
Background:
https://www.lavanguardia.com/natural/actualidad/20190226/46687495540/francisco-castejon-fernando-marti.html
As expected I suppose, matnotan. Are the Ecologistas running a campaign against the proposals for the other mining explorations in the area mentioned in my earlier posts?
Newbie, this may help:
London Stock Exchange rules. Not a light night's reading but worth knowing.
Ref p43: Off order book trading
Ref p22, p52: regulations re.MMs
https://www.londonstockexchange.com/traders-and-brokers/rules-regulations/rules-lse.pdf
Thanks for your detailed and insightful contribution Neil. I might as well sell up now then..
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas
14 January 2020
United Oil & Gas PLC ('United' or 'UOG' or 'the Company')
Amendment to Production Sharing Agreement on the Walton Morant Basin, Jamaica
United Oil & Gas PLC (AIM: "UOG"), the AIM traded oil and gas exploration and development company, is pleased to announce that the Production Sharing Agreement on the Walton Morant Basin, Jamaica, operated by Tullow Jamaica Ltd ('Tullow'), and in which United has a 20% interest, has been amended to extend the Initial Exploration Period during which a drill or drop decision is required for a further six months. Tullow Jamaica Ltd is a wholly owned subsidiary of leading independent oil and gas exploration and production company Tullow Oil plc (LSE: TLW).
The Initial Exploration Period was due to expire on the 31st January 2020, at which point a commitment to drill an exploration well would have been required to move into the next phase of the licence. With the extension to the Initial Exploration Period, the Joint Venture now has until the 31st July 2020 before the drill-or-drop decision is required.
A Joint Venture farm-down effort being led by Tullow (operator and 80% equity holder) is in progress, with the aim of bringing in an additional partner(s) for exploration drilling in 2021 on the Colibri prospect. A number of interested parties are continuing their evaluations of the licence data, and the extension was granted to provide sufficient time for these to be completed. The extension does not require any additional work programme commitments.
Brian Larkin CEO, United Oil and Gas PLC:
"We are very pleased with the extension that has been granted. We have seen additional interest in the licence towards the end of 2019, and this extension will allow those parties to fully evaluate this excellent opportunity."
"We continue to be excited by the exploration potential in this super wild-cat area - not just in the Colibri prospect, but also in the follow-on opportunities that extend across the licenced acreage."
Thanks Paul, will have a listen later. Also, I notice that the Junta de Castilla y León have applied for a mining research permit for Villasrrubias, which is about 50 miles from Retortillo. I would expect that there would not be any issue with BKY's application for permits for the non-uranium metal exploration in that case...
BKY has requested six research permits not only for gold, but also for other minerals such as tungsten, tin, lithium, tantalum and rare earths, among others.
https://www.lagacetadesalamanca.es/provincia/la-fiebre-del-oro-vuelve-a-salamanca-MB2012871
I'm just an interested observer here (not an agent of MMs, paid ramper or deramper, etc). Here are a couple of articles which should stimulate some intelligent debate rather than the toxic poison on the board at present.
Russian law: Subsoil Plots of Federal Significance (which includes PGM minerals) may only be operated by Russian legal entities. If a foreign company were to gain control over a Russian company which has a subsoil license for a Federal Significance Plot, prior consent must be obtained from the government. This would surely make a Russian buyer more likely in EUA's case?
https://iclg.com/practice-areas/mining-laws-and-regulations/russia
A guide to valuation of in-situ reserves from Edison. It mainly focuses on gold but there is data from a limited sampling for PGMs on pages 33-35. There should be a new edition published at the end of the month which hopefully updates their findings.
https://www.edisongroup.com/wp-content/uploads/2019/02/GoldStarsandBlackHoles_220119.pdf
PS Lucretius: An Arab is a Dundee United fan and a refugee from the ferry is an ex- resident of Broughty Ferry, near Dundee. I would recommend the Fisherman's Tavern for a good pint and craic if you're ever there..
There was a good article in the New York Times today regarding Germany's paranoia about nuclear energy and the problems that pandering to so-called green pressure groups may entail. It's the same in many EU countries where the "ecologists" have a strong pressure influence at the ballot box:
https://www.nytimes.com/2020/01/08/opinion/nuclear-power-germany.html
The importance of nuclear power generation is still very important to China however. I noticed that CNNC have bought a small Spanish engineering firm which specialises in the design, engineering, installation and maintenance of treatment of radioactive waste and the decommissioning of nuclear plants.
"The purchase of Nusim is part of CNNC's international expansion plan to participate in projects in Europe, Africa and South America, including the dismantling of European plants, with the clear intention of cooperating in the globalisation of the entire industrial chain of the nuclear sector, improving the quality and efficiency of the Chinese nuclear industry in environmental protection."
https://elpais.com/economia/2019/12/26/actualidad/1577359611_983821.html
Still can't find confirmation about the court action, or otherwise, but will keep you posted.