RE: Non Visible gold9 Apr 2024 18:33
Hi Robbie, I believe the HH is a loan, not repayable on demand and only interest being received if at all, based on current base rate ( so poor over last 10 years). Sanderson seems to be in charge of repaying, so not much chance there.
I'd imagine now its just a matter of time and getting so many pennys in the pound from liquidators sometime.
There was supposed to be a £100k payout a while back from oil sales, but my Gut feeling is that this was conditional on GF signing over some control to a new group of probable crooks. It looks like he didn't and we didn't get the money. I think if we did, there would have been an RNS to say so.
My thoughts are if UKOG and the sanderson legacy don't keep bleeding more and more investors keeping the lights on and wages for him and it does eventually go bust, then it maybe something Alba could potentially take control over, depending on what was really needed for investment and potential income (We do need an income from somewhere, but not a money pit if that's what HH would take).
So basically HH very little value and our investment buggered. But at least if thats the case, there will be quite a lot of tax losses to offset against future Gold income. We probably have millions on reserve on losses, so probably no dividends either for many years, if Clogau starts making a good profit.
Sorry for long winded reply. I hope this helps.
If some of my thoughts/comments are wrong, please update me as this was all on memory. Cheers