Member Info for elir71

Last year's placing was at 0.375p a share and represented 6x more income per share than Bergen (who I acknowledge were necessary at the time)

I was doing an exercise earlier of ammending HH fundamental value to ALBA based on the UKOG impaired value
I arrived at £2.8 M
Now I learn we're owed £2.9 M by the project with an unspecified repayment date which makes it a virtually unsaleable debt

Brockham is a total write off in my eyes too

@ocelot .....
crumbs I didnt realise that it was that much, I was shocked to learn ALBA'd lent them £300k earlier this year
£2M + ...... with no fixed repayment date .... omg ... it sounds like "loans" to my stepchildren

Guys we've really got to apportion no credence to .... "sounded positive" etc and look at facts figures and the words actually said.

If we've lent this on the never never to HH ... I'd hope not to see a placing begging bowl any time soon, especially at discounts to "favoured investors"

@Robbie ... how do you justify the assertion that the gold is more valuable now. Against what do you base this ?
If it's against cash value then that is not valid. If its measured against average wages. prices of loaves of bread etc then it would be a fair assumption. If the tip is to be exploited then do you think the whole tip will be put through the crusher ? Or only selected larger rocks for crushing ? How do you imagine that will be sorted ? .... hands and eyes, just like 130 year ago.

Anyway, assuming we wont have a 6month + wait for the assays on the fines then its not really possible to tell whether there is any prospect in this. What do you think the cut off grade should be ? We need an idea of this before results not be carried away by some emotional tide based on qualatitive statements and "excited" directors.

Is it your understanding from this (extracted from UKOGs annual report) that ALBA as 10% shareholders have lent HH about £300k ?
"It is the prime responsibility of the Board to ensure the Group remains a going concern. At 30 September 2020 the Company had cash and cash equivalents of £1,634,000 and borrowings of £3,084,000. These borrowings are due by the Company's subsidiary, Horse Hill Developments Ltd, to its shareholders, There is no repayment schedule associated with this loan and repayment is determined by the directors of Horse Hill Developments Ltd. The intent is to repay this loan from the free cash flow generated from the HH-1 well or any other further developments on the license areas of Horse Hill Developments Ltd. The Company has minimal contractual expenditure commitments and the Board considers that in conjunction with equity financing, the present funds are sufficient to maintain the working capital of the Company for a period of at least 12 months from the date of signing the Annual Report and Financial Statements. For these reasons the Directors adopt the going concern basis in the preparation of the Financial Statements."

This is so avoudable

You're confusing the wider dgb exploration with site specific investigation for reopening clogau.

@ocelot... All they can do

No what they can do and should do is process and assay the autumn 2020 bulk samples, not the floor sweepings but the specifically targeted ore.

Suppressing that info is poisoning all the other good news

Where have the bod quantified even one bulk sample's gold content.? They've published assay on a few drill cores. It wasn't high, but you can't infer grades from cores, only structure and the presence of mineralisation

Or think of it as a savings account that pays - 51% every six months.

the 0.55 at christmas was still an undervaluation.

what triggered the downward slope was the "gold concentrate" RNS.
the subsequent concentrate video didnt help. Then would have been the time for him to state what mass of sample resulted in a mass of concentrate, then the grade could have been worked out.

Now, I wouldnt be expecting it to be great at all, but its just one sample (probably from the stuff on the floor anyway).
If he had said, theres some concentrate .... it came from xx tonnes a grade of 1g Au / T ... but its from floor sweepings ... then no one would have given a toss.

narrow spread --> brisk trade
@0.25p level
could be an interesting day

"negative poster's can't be shareholders" ... "move on"
that's like saying that, as a boss (which the shareholders ultimately are), when your team (the bod) underperforms you should resign and move on
I'd rather communicate my displeasure, tell them why and how their performance needs to improve with the aim of that team (this bod) altering their erronous behaviour. If they can't or won't then it is them that need to move on.

That's a question I've been pondering too
I think TOM may multiply faster initially, however I think QFI has further to go over a longer period. Ive split (not equally) between PQE TOM and QFI (with respect to this broader project). There's some considerable stakes being taken in the former two recently

Pointing out potential pitfalls is not negativity it's part of objectivity

It may be comforting to be part of a cheering winning crowd, but sometimes you have to face the reality. It is not negativity on here that is causing the SP to be down, its the reasonable doubt and concerns that assay results from samples taken 6 months ago are seemingly being suppressed whereas, when there is a will, then it appears that turning around similar samples can be done within a month. Until that is addressed then the SP will continue to suffer and other good news be ignored.

Phase 2 drilling. 2000m couple of months subject to additional holes... 15 June to 15 july

Phase2 assay of drill cores 7 July.. 7 aug

1st phase cores at assay labs 2 to 3 wk.. 7 may

Within next month for assays on tip fines 15 may
If promising larger scale tip exploration subject to permission

Planning for summer drilling at tbs amistoq

GF vox markets 15 April 21
What I found encouraging was GF making specific statements regarding timescales, especially on lab turnarounds 2 to 3 weeks, which is what I said was a reasonable turnaround last autumn

Ecology sensitive

Spoil.. Little produced
Minewater.. Benign after settling possibly natural warming
Dust little
Noise from crushing mitigation measures possible
Traffic little
Scenery... Its not opencast, but will headgear be needed for llechfraith new shaft, will it extend to surface or just join 2 levels?

44wasre revenues. I've posted some back of a matchbox calcs on the alba investors fb group,. I see no reason too prioritise the tip over processing the bulk samples.

"A PR man who can tell us why delaying results benefits us in the long run"
=
"A PR man who can tell us that tigers have spots"

personally I would rather the unspun truth

I'd be totally unconcerned at low grades from the stuff collected from the floor ... fine to use that for calibrating and test running the pilot plant. The samples I am interested in are the ones specifically collected from in situ ore bodies in the areas they targetted, as per August RNS.