Member Info for GingerHippo

So true I posted two....

Fid4chips,

By going short s/he has pitched himself/herself against the BoD, Rosgea, UBS, Citic, DLA Piper, Blackrock, Morgan Stanley, Veles and others.

This is scary prospect and it's no wonder it takes up a lot of head space.

Fid4chips,

By going short s/he has pitched himself/herself against the BoD, Rosgea, UBS, Citic, DLA Piper, Blackrock, Morgan Stanley, Veles and others.

This is scary prospect and it's no wonder it takes up a lot of head space.

Billions. I corrected myself already.

But it remains completely untrue that it "can only be a combination of Veles, AC and Queeld."

Sorry. Got my own maths wrong there. 12.35% voted against.

"Can only be a combination of Veles, AC and Queeld."

That is patently untrue. Could be any PIs or IIs. We will never know.

Also worth noting that only 5.265% of shareholders voted against (that's 81% of the 65% that voted. 0.81x0.65 if you want to check my maths).

"Eurasia will update on Monchetundra, West Kytlim and other Eurasia matters as soon as practicable."

What update on MT are we waiting for? It can't be just for the FSP because the RNS then says separately "the Company will update on progress of the FSP when appropriate."

So, what's the MT update? Dare I say the flanks resource update is nearly ready for release?

The sp movement is just the usual market ups and downs . There was never going to be a reaction to a vote we all knew would pass.

AGM 2020 held on 18 September 2020 at 11:00am. Results on 18 September 2020 at 1:45pm
AGM 2019 held on 20 June 2019 at 11:00am. Results on 20 June 2019 at 2:12pm
AGM 2018 held on 24 July 2018 at 11.00 am. Results on 24 June 2018 at 2:26pm
AGM 2017 held on 29 June 2017 at 11.00 am. Results on 29 July 2017 at 4:55pm
AGM 2016 held on 30 June 2016 at 11.00am. Results on 30 June 2016 at 12:14pm

I agree with you, MadStork.

I think the FSP has failed.

Nobody can afford us any more. Our assets are just too big.

Oh well.................

I don't know what you mean. The EGM is about whether the company can raise funds by rights issue or placing. They're not voting to confirm a deal.

I'm sure something will happen, but I'm not sure what. The FSP/EPCF drawdown might take a bit longer. Very very unlikely to announce a sale today.

Nice analogy.
Doesn't apply here though I'm afraid.
A better analogy would be if your co-pilot just sits next to you all day screaming "we're going to crash! we're going to crash!" for no apparent reason.
Maybe considering not flying with him again.

There's not that many shares in issue. Dividends first please. Won't be for a while yet I think.

Quote "Shame they've had their no's and the standout part is their wage rise though."

Lol. It's only the standout part to those Eeyores that have focussed on it, rather than the very unusual sight of an AIM O&G play actually turning a nice profit!

Quote "Shame they've had their no's and the standout part is their wage rise though."

Lol. It's only the standout part to those Eeyores that have focussed on it, rather than the very unusual sight of an AIM O&G play actually turning a nice profit!

Re directors' pay, the following report is interesting:

https://assets.kpmg/content/dam/kpmg/uk/pdf/2019/04/aim-survey.PDF

If I might summarise what I found. The directors here at UOG are paying themselves the salaries of a mid-cap AIM company while we're still technically small cap. I don't think that's entirely unreasonable because we really should be mid-cap. But hopefully it won't increase much if at all next year.

A pay rise is to be expected when they've done such a great job. Maybe a little much but as long as it doesn't go up a huge amount next year I think it's OK. They're earning less than some other AIM O&G plays that haven't had great performance I could mention.............

Last week I said I thought net profit would be £5M for 2020 and over £10M for 2021. I underestimated interest, depreciation and wages.

I have now included higher admin costs into my projections for 2021 and reduced the expected boepd from 3200 to 2600 per the RNS this morning. Basically, I'm being much more conservative with it.

I now get net profit for 2021 of about £9M. So I think we ought to be above 20p this time next year.

This is no pump and dump scheme. This is the real deal.

GLA.

Agreed. Profit was below my expectations per my post last week.

Operating Cash flow in was as expected at $5M.

everything is pointing up and we are now the only AIM O&G play (I think that’s right) that’s actually profitable.

The resolution didn't pass at the last AGM and BoD said they wouldn't pursue it because they had the funding they needed.

Now, all of a sudden they need the money for something that cannot wait another 2 months.

So they ask us to vote in favour of the resolution, but not before elaborating on the new JV, the development of the Kola district and new Asian potential investors. Hint hint.

So I think they either want to develop Kola alone, or the mere demonstration of their ability to do so will give the FSP a kick up the backside.

From the RNS:

"The Directors are confident that the ability to allot securities and demonstrate a capacity to develop the Kola PGM and battery metals district independently of other strategic options available to the Company....."

What they're saying is that the ABILITY to raise funds DEMONSTRATES A CAPACITY to go it alone. They might use the resolution to develop Kola, they might not. But what's key is the when the vote passes they have shown that they CAN develop Kola alone if they want.