Member Info for GingerHippo

Pacha,

The AGM needs to be within 6 months of the financial year end, which was 31.12.2020. Last year there was an allowance to hold the AGM late because of Covid, but there's been no suggestion that this dispensation will apply this year. So the AGM should be in June.

Yep. The pump and dump crew aren't interested in UOG cos they know they won't be able to short it on a spike.

Once we go up we are very unlikely to be coming back down.

I know you didn't ask me, but I take it that we will get something concrete before the next AGM (ie before 30 June). Either they will raise funds to develop Kola, or they will use the ability to leverage a favourable conclusion to the FSP. Win win.

Not guaranteed of course. There's a lot going on behind the scenes.

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.

Insidious, that is a great name for you.

Considering comments like this one from 20 Jun 2018 11:04:

"stuarto33 - Buy, Hold and switch the computer off..."

That was back at 1.4p.

You gave direct explicit advice to someone which if they followed would have costs them over 80% of their investment as of today.

Oofy, people keep ignoring the accumulated losses for some reason. Writing items off is not a cash movement this year, but it was paid for at some point. UKOG need to make £80M in profits from now just to make back their historic losses. That's several million barrels of oil even at $70 per.

I don't think the company will ever be able to repay its shareholders. People buying now are speculating that the share price might go up, not investing in a profitable company. That's in itself is OK, but ppl need to be clear about these things.

The more I read the angrier I'm getting.

People with agendas calling 'negative' posters trolls, while encouraging newbies to look at Ferraris, while actually costing them small fortunes.

It's genuinely disgusting!

Be careful. Trust no-one. DYOR.

3 Sep 2019:

"This share is only going up and up and the trend has started. Listening to penguin type trolls will cost you money delaying your buying decisions. "

Price back then - 1.15p. Who cost PIs money?!

31 Jan 2020. On UKOG. Price was 0.725p:

"Not telling you CaptainTroll. Do your own research and reading.
I'll only help non-trolls.
Looks like the bounce was called nicely today!
CaptainTroll wrong again and missed the train....or will she buy in early Monday to minimise missing out even more!"

Again, the price has never been that high since.

Page 50:

"Yes, simples, if you've bought in already you're going to make a lot of money..... simples!
Have a great weekend planning how to spec the Ferrari :-)"

That was on UKOG on 8 Nov 2019 at 1.075p. The price has never been that high since.

Be very careful who you listen to...........................

The above post was just an interesting side point. I am not inferring anything about UKOG from it.

So interesting to read back really old posts.

I just went on to page 100 of someone's old posts to find the following:

"Best ignore the troll, I am from now on.......

I'm happy watching until the next transformational RNS now... this little biotech is now fully funded to become an emerging pharmaceutical and has now proven it can make deals with the bigger players... roll on next one. GLA"

That was back when SUMM at 221p on 5 Oct 2016. Just AFTER a huge rise. What happened next you ask? It went nowhere for 2 years then crashed and burned. Delisted at 21p.

Look, everyone makes mistakes. I know I have. But the lesson is clear. Just because someone calls everyone else a troll (and has been for many years), doesn't mean they know what they're talking about or should be listened to.

"It is possible to make money— and a great deal of money—in the stock market. But it can't be done overnight or by haphazard buying and selling. The big profits go to the intelligent, careful and patient investor, not to the reckless and overeager speculator." J Paul Getty

Even if that were the case (which I don't agree with), you're still only looking at the admin costs of £1,755M. You haven't included direct costs or finance costs.

But really you need the cash flow statement because don't forget the company had trade payables of £1.36M to pay (cash out) and almost no trade receivables to get (cash in).

If you want to see the cash position you'd be better of looking at the cash flow statement.

Ocelot, are you sure you're looking at the consolidated cash flow statement instead of the company cash flow statement? The consolidated CFS shows net cash outflow from operating activities of £2.8M. (That's down from £5.7M the year before.)

That doesn't include the cash expenditure on capex (exploration, PPE etc). So even if the drilling in Turkey is literally the only capital expense they will have in the next 6 months, they still need the £2.8M I calculated before.

They had £1.6M in Sep 2020. Raised £2.2M in October. That's £3.8M for the last 6 months.

£3M operating expenses a year is £1.5M until now leaving £2.3M for the drilling. So they need another £1.3M for drilling and £1.5M to cover operating expenses until September 2021. So they need at least £2.8M very soon.

Flow test results due any time.
Annual accounts next Monday which I think will show about £5M net profit for 2020. That gives us a PE of 6.
I think net profit in 2021 of more than double 2020, giving us a forward PE of less than 3.

When will the market wake up?

Placing is inevitable IMO. The company just doesn't have enough cash to carry on for long and no other way to get cash.

I'm sure your response will be to call me a troll. But you're not doing PIs any favours with that sort of behaviour.

Roger, I think the price action is just the market being the market, not because anyone knows where the FSP is headed.

I actually hope the FSP is cancelled and we get into production. Our resources have increased so much, let's take full advantage.

But you have to understand that the partnership with Rosgea is a huge win for us. Huge. Not indicative of the FSP going south. If something like like is available, you grab it with both hands. The RNS was clear that this is concurrent with the FSP.