Member Info for GingerHippo

Maybe instead of worrying about what other people hold or buy or sell or pump, just DYOR on a company you are thinking of investing in and base your decisions entirely on that. Just a thought.

Looks to me like everyone is focussed on the short term price movements.

The market cap is under £4M. If United get a partner to fund the drilling of a potentially huge asset, what do you think the market cap will be then?

Hint: the farmout partner would have to pay United for their costs so far of around £5M, plus fund the drilling stage of around £30M, so the market cap would have to be at least £35M (ten bags already from here) plus the market's perceived value of United's remaining share in a potentially huge asset, bearing in mind the CoS there. That part is too speculative for me to have a go at estimating, but I dare say it will be significantly more than the market is currently valuing the asset at.

The share price plummeted from about 1p (which had already gone down from 3 or 4 pence) because we pulled out of Egypt (no revenue) and the potential farmout partner pulled out at the end of last year. I think people thought the farmout would either never happen, or if it did, it would take ages and we would need more raises and people were waiting for the price to drop before buying in for the farmout.

Last week confirmed that we have more money coming in than we thought and that the farmout is potentially closer than people realised. Still a long way to go to get back to 1p, which would still be far too low.

It doesn't help that for the last year every attempt at pointing out the above was met with a flurry of negative posts, without basis except the declining share price to back them up, which is obviously illogical, but can't actually be argued with. So the positive holders gave up posting and just quietly bought.

It's worth pointing out again that the drill or drop decision has to be made by 31 Jan 2026 and we need the piston core testing done to inform that decision, hopefully starting early 2025. So IMO the chances of an initial farmout to fund the piston core testing in the next couple of months is very high, followed by a larger farmout deal to fund the drilling stage before the end of next year. This is not the P&D that some people made it look like on Friday. All IMO

I’ve been adding content for years, Bitter

Yes. But this is not the way to do it. You sound like a classic pump and dump poster, which is not what UOG needs. You’re putting people off

Bitter End, you are not doing the stock any favours with this kind of posting. Please stop it.

More than we thought they had two days ago 😂

IMO the deal is extremely likely to go ahead at 145p. The sp indicates that not everyone agrees with me though

I think people are putting too much emphasis on the US license. It's more or less a done deal that we'll get the license, it's just a question of when, but almost certainly before any takeover could be finalised.

Nice recovery. Gambling taxes did not materialise. Let's get back to over 40p please.

The share price makes no sense. It should be much closer to the 145p offer. Sure, the offer is not formal, but Stonex have stuck their necks out publicly at that price.

I think the sp dropped because people worried this would make the offer less likely to become formal. IMO this morning's RNS only serves to make the offer more likely to be accepted.

They have 8 days left to make the offer formal. If they do, we should be at 140p or so by the end of next week.

I'm only kicking myself for doing the logical thing of buying more at 122p in the last few days rather than waiting for the illogical price of 110p I could have got this morning.

@MK, I agree with your statement that it's "Deliberate delayed downbeat statement to set the scene" but I suspect they are trying to get us to accept the offer of 145p and that's as far as it goes.

I can't say that I am happy with it, but my opinion isn't going to make any difference to the outcome.

The share price is beyond ridiculous.

Reckon it’s partly due to budget fears

Put a different way, Cab has a cash balance of about £140M, so Stonex are really offering only £230M for the business itself.

Based on current year profitability (don't forget H2 is more profitable than H1) and underlying double-digit growth rate (not to mention the growth from the US license) I think they will have made their money back in about 5 years, maybe less. That's a fantastic deal for them, and frankly a rip-off of current owners, ie us.

You don’t pay £400M or so for a uk banking license, or a license to operate in the US.

Cab is a highly profitable business. They want to buy it and let it continue that way (with or without replacing the bod). Simple as that I think. Ie they want to own cab for the same reasons I want to own cab, being profitable a growing a decent pace, which is why I’m unhappy at the thought of being forced to sell out way lower than I otherwise would.

Having done an IPO just a year ago at over 300, I think it would be wrong for the bod to accept less than that TBH. I’m happy to wait a few years until the share price reflects what I think they are worth.

I'm actually angry about this. These shares are worth way more than 145p, and I'm confident that will be recognised by the market in the near future. This is an attempt to mug us PIs off. Hands off.

Disgracefully lowball offer. The BoD MUST reject it.

Absolute cheek that they think a 25% premium is enough to buy us off. Try £4 a share a maybe there's something to think about. But they won't offer that kind of premium. So StoneX can *%$* right off.

Crypto, it comes down to whether there is a reasonable expectation to be able to sell at this price. The auditors agree with the company's assessment that there is a reasonable expectation to be able to sell the concentrate at cost or higher, or they would have to write it down.

Writing down inventory value is not limited to the extreme examples you mentioned.

So, anyone who says the company cannot sell the concentrate for at least £4,127,939 is literally arguing with the auditors.

That's half right Crypto. Book value is the lower of cost and realisable value.

Assuming the £4,127,939 is cost, that means the realisable value has to be higher than this.