Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
@just be
RNS from 2 Oct states that the last placing was to find UKOG’s share of initial drilling and seismic costs (see below)
Even SS would have difficulties in asking for more money now as he would have to justify the cash burn from the last fundraise.
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that further to the 23 July 2020 announcement of its agreement to take a 50% interest in the Turkish Resan oil appraisal and exploration project, it has successfully raised £2.2 million to fund its share of initial drilling and seismic costs through a placing ("Placing") of 1,374,999,993 new ordinary shares ("Placing Shares").
@dusterhater
No chance this will 2x today. All for being positive but perhaps a degree of realism is required. I’m hoping we are 0.5p or above by the close of today.
@officemanager
Peter Wall at ARB springs to mind, to name one.
UKOG is going crazy today - currently up 74%
Wow, simply WOW!
@ insidious
Fair message you have posted. Sadly, I suspect that many people are ‘once bitten, twice shy’. The past performance of UKOG somewhat implies that after a rise and a positive RNS comes a placing RNS. One only needs to look over the last 4 years’ of RNSs to see this pattern. Only time will tell here but it would not come as a shock to many if it happens.
As a genuinely positive holder of UKOG, and somebody who recently topped-up, what would make this shareholder happy would be the CEO and BOD investing their own cash into shares in UKOG. Then greater confidence would return and a rise in the price.
GLA
@ Rick5
I’m going for 16:45 today.
@ Trollhunter
It is probably safe to assume that our BOD are not the ones “hoovering up at this price”.
Something may (hopefully) be brewing so a case of fingers crossed (arms crossed, legs crossed, eyes crossed....)
C’mon UKOG, get back on your feet!
@ ocelot
Despite the number of variables mentioned “if” and “I think it could” I agree your sentiments.
For me, as an investor and believer in UKOG (who recently topped-up), i would like to see the CEO and other board members all commit to the business and their strategy by investing their own money into UKOG. In my opinion, that would raise the confidence of investors.
All the best.
Please forgive my ignorance but why do we shareholders pay for a CEO who has no skin in the game?
Can the shareholders call the shots and oust a CEO who appears to just take out of the business and has no shareholding in the business?
Surely shareholders should not be the ones who have to keep stumping up their hard-earned cash to fund what appears to fund a board member’s lifestyle?
@ RC
Morning RC,
I am sorry to see you go but I can understand your decision to sell up. The overwhelming guidance provided by Eva, Tiger, Pearls is too compelling to ignore and as they know best, you have clearly succumbed to their opinions.
It’s not hard to see why you would want to buy Turkish Lira or Zimbabwean Dollars......especially when you chuck in the additional excitement of soaring global inflation.
You’re a savvy investor and no doubt many of us will follow your lead. Why would we want £1000s or £10000s of investment gains when we could £0 or less by leaving hard cash in a bank account paying 0.01%.
Good luck RC! :)
@LoLades
I agree with you. The silence out of ARB is deafening - perhaps we are in that phase now where the application for listing to NASDAQ is in and so ARB are making sure that they are keeping their powder dry?
@ The Prophet
"Do we know if its a whale, or another Elon grab, or possibly even a bored premiership footballer with too much cash!!"
It's.......PEARLS!
I am just hoping that the SP stays around here for the new ISA year opening and then we will not be paying a whopping premium to buy more ARB on 6 April. I have maxed out this year's allowance and don't want to hodl a load of ARB outside of an ISA given the longer term potential of this share.
@ Ozzy
You state "i don't see how 2 trips in one day could be a cost saving.....surely the cost is the same for each trip"
Just for consideration, I make a return train journey between London and Edinburgh today and then a return train journey between London and Glasgow tomorrow - therefore 2 journeys at say £100 each = £200.
Now, if i make the same journey up to Edinburgh then set my Glasgow meeting up this afternoon and get a return train between Edinburgh and Glasgow then I am likely looking at the same £100 to Edinburgh and £25 for the return journey between Edinburgh and Glasgow = £125.
So in response to your statement, the cost is not the same for each trip.
@ hedged
Taken from the RNS dated 10 November 2020
"In addition, Amigo announces the appointments of Paul Dyer as Chief Risk Officer, subject to FCA approval, and Shaminder Rai as Chief Transformation Officer.
Paul has a wealth of risk and regulatory experience, having been a member of the FCA's senior leadership team for two years and, as Head of Regulatory Risk and Assurance at Huntswood, overseen several S166 reviews covering affordability and complaint practices. He is also a Member of Advisory Panel of Experts for the Bar Standards Board. Paul's appointment is with immediate effect."
First we had stamp-collectors, now we have tulip growers, what next????
Hilarious RC :)
No DVT socks here, full pressurised spacesuit is at the ready. Anything less and you may end up imploding.
One suspects the Fed decision to keep its key interest rates unchanged and has indicated that it is likely to remain unchanged through 2023.
Therefore, good for stocks/shares and Bitty
Anybody seen or heard from Eva whilst all this positive news is coming in ???
BTC going up nicely, ARBKF going up nicely, derampers leaving this board in their droves nicely.
@RC
It’s hilarious isn’t it - poor Zoro (no, literally, he will be poorer for selling out this morning).