Member Info for GingerHippo

I think the key here is what what said in the RNS 14 June 2021:

"Jundee East represents an exceptionally exciting prospect for Oracle in one of the most prolific gold producing regions globally. These positive results from the orientation soil geochemistry programme confirms we are on the right path to unlocking the potential of this new unexplored area. The soil sampling programme will now be expanded to better inform a maiden drill programme which we believe will lay the foundations for a JORC Resource."

A JORC-compliant CPR would blow the roof off this puppy.

It's been just over 6 months since the hydrogen project was first announced. Practically no time.

"this structure will significantly mitigate the early-stage development risk and funding requirement for the Project."

"but even at those conservative values, it gives Oracle Power a much higher value than today’s price"

For sure!
Current mcap is a joke.

@Washers.
We don't know how much PowerChina own as discussed yesterday.
Say Oracle Energy owns 30% of the project and we own 30% of that, what's actually gone into the project is £800K/0.3/0.3=£8.88M

Well done for not checking so often.
I fully believe this will happen suddenly at some point.
When that will be, nobody knows. Could be tomorrow.
The logic that since it's been 580 days it can't be close is bizarre. If anything, the more time it's been been the more likely that they will finish soon.

I don't remember any RNS saying how much PowerChina own.
It is a huge project and it makes sense that we would only own a small %.
I think it's a fair question for Naheed.
Equally, it means our capital requirements will be lower.
We can't afford to fund even 30% of something so large.
But if we're running the project, we should be rewarded for that work above the capital we inject.
Also worth noting that the Sheik is our largest shareholder, as well as owning the other side of the JV. He's clearly keen on the project.

https://simplywall.st/stocks/gb/energy/aim-uog/united-oil-gas-shares/news/united-oil-gas-plcs-lonuog-stock-on-an-uptrend-could-fundame

We may be not growing much
But we’re undervalued on current profit already
And PGMs are likely going higher and higher for the foreseeable.

The sp is back to the level it was a couple of weeks ago when the basket price was about the same.
Does that make sense?
Only sort of.
We’re still making good money here and the last 2 weeks gave us a decent boost.

I think we'll have drilling results towards the end of the month. Another 2 weeks maybe?

I think it's highly likely that Selva will complete before 5 April as well.

I'd like to see us either developing the North Sea license or selling it at a higher price than expected from Quattro, given the current O&G environment.

Saying PGM prices have gone so much today is a bit misleading.
I'm getting Rh at $21500, Pd at $3052 and Pt at $1106.
Making our basket price $4113, which is 16% higher than the £3542 we had 2 weeks ago.
Costs remaining the same means that our profits have gone up c 25% in the last 2 weeks.
2 weeks ago we were at about 100p
So today we should be at about 125p
Just on the basis of the increased metal prices.
Not to mention that we were undervalued before.....

"sold out a couple of days ago and took the hit. With oil at $130 this SP makes no sense."

The SP is based on buys and sells. The SP is low because ppl are selling even at these prices.
As evidenced by yourself.
With oil going so high
Selling shares in a profitable oil company
Makes no sense at all to me.

Rh 12.5%
Pd 23.4%
Pt 63.8%
(Au 0.3%)

Rh 21200
Pd 3148
Pt 1155
Makes our basket price $4,129
Great news for us, but for all the wrong reasons :(

1650 boepd @ $100 per day gives revenue of about $19M.
Costs of $4.5M
Depreciation of $4M
Admin costs of $2M
Fair value loss and interest $2M
Net profit about $6.5M for the year.
That's about £4.5M.

Current mcap of £15M means we have a forward PE of about 3.
Which is crazy.
We are extremely undervalued.

And this doesn't even account for growth of production at AS, cash in from the Selva and Crown divestments, divestment or production in North Sea, the cash we already have and of course Jamaica.
I am not worried about the share price at all. It's a great top up opportunity. The profits coming in will sort the sp out in time.
This is one of the most obvious buys I've ever come across.

And Rhodium back at $2000
The drop makes zero sense.

Up 1%
Plus the 2% divi which went ex-divi today.
So 3% really.
Not surprising given the significant rally of Pd prices

If these prices hold up they will have boosted our profitability in H1 by around £0.5M.
Let alone H2.
All in all, I'd rather have the lower profits and world peace.
But that's not up to me.

Amur Minerals confirmed no impact from sanctions (as of now).
Immediate response in share price.

H1 saw 32,376 ounces.
Guidance is 66K-68K.
That's 33, 624 - 35,624 ounces for H2.
At a significantly increased basket price.
I now make it $3,542 per ounce.
Based on 18,300 for Rh, 2382 for Pd and1083 for Pt.

Taking the mid-point above of 34,624 for H2, at $3542 basket price and $1216 all-in costs, I get:

Revenue $122.6M
Direct costs $42.1M
Admin $1.3M
Interest $0.3M
Tax $23M
Net profit $55.9
Which is £40.8M GBP
Plus £17.8M for H1
Gets you £58.6M net profit for the year.
Giving a PE of 4.5, on today's mcap of £266M