Member Info for GoldnOilDigger

I'm sure there's a lot more going on in the background. I'd imagine Mark is fantastic at being the COO and chief Geologist. Also George being equally fantastic at CEO and being the figure head of the company.

I'd imagine that the unscripted filming of a mine's new safety equipment, old broken machinery and any slightly interesting workings is not their strongest point.

Give them a chance and I'm sure the video's will improve. I heard on the grapevine that Stephen Spielberg wanted to get involved but couldn't find the mine. (Not The famous Steven Spielberg, but a nice bloke with a camcorder)

Come on give them a chance, it can't be easy trying to film something really interesting prior to finding Gold Nuggets.

Gla and keep smiling, at least the rain has temporarily stopped.

Nice one TAC, it's good that somebody found out some proper info. Much appreciated.

Well adding a pump just seems a routine job, its there to increase production and so what, its expected that pressures drop eventually. This maybe now or in the future, if its now, then get on with it, if its future then its "Planned preventative maintenance".

We lose 3 weeks production now, but the oil is still there, its not vanished.

3 weeks delayed production is 6% on the year, yet SP down 8%+ today, 25%+ over the month with no running commentary updates!!

It just seems to me quite a lot oversold, the likes of some negatives on here are saying UJO is a dog and they've told us so, over and over again and we should listen to their negative spiel.

Get a grip for gowds sake. There maybe a bit more trading going on and off over the next few weeks (and forever). But fact is last RNS £10.8 M in the bank or equivalent, regular money coming in (paused for a few weeks), no debt currently and company currently valued at less than £20M.

Seems a candidate for an opportunistic take over bid to me.

What happened to Egdon? Who's partners with Egdon on most of its licences?

Just seems easier to take over UJO on the cheap when there's so many investors worried about no news and panic over a bit of sector maintenance kit and authorities not releasing licensing news well before expected.

I'll leave that one with you. I'll be looking for a further dip, so I can maybe have a few more on the likely cheap!!

Gla dyo

Happy with the vox interview.

Some good points covered, some advice taken, cheers GF, looking forward to the potential future investors meet (potentially late October/November) dependant on news worth telling us.

Generally happy with the interview and under the profession constraints GF has to deal with, pretty good and looking forward to the further opportunities.

Positive.

Gla and worth watching again.

I don't know much about the telegram group. Enlighten me, what's that about please.?

I am interested in most positive things about Alba, not interested in negative people and derampers.

So if this is positive group, I'd be interested.

Cheers for now.

HDT

Looks good for west newton. I've not read all the report but the important bit of the application granted must be a massive positive.

I'd imagine Rathlin needed this in place to potentially secure funding to progress with the operation.

I hope its much earlier than H2 2024 Heid, but you've been doing the research much longer than me, so I'll follow that projection and hope its earlier.

Nice one all and fingers crossed for some progress this year. It's been pretty boring so far and only Wressle shining.

Any ideas on Biscathorpe application yet. Its been ages and I cannot realistically see why there still delaying.

Looks good for west newton. I've not read all the report but the important bit of the application granted must be a massive positive.

I'd imagine Rathlin needed this in place to potentially secure funding to progress with the operation.

I hope its much earlier than H2 2024 Heid, but you've been doing the research much longer than me, so I'll follow that projection and hope its earlier.

Nice one all and fingers crossed for some progress this year. It's been pretty boring so far and only Wressle shining.

Any ideas on Biscathorpe application yet. Its been ages and I cannot realistically see why there still delaying.

Bloody good point pickedpeck. I've never got round to checking the maths yet myself, but your calcs look right.

I should have checked as that's a thing of mine.

Let's just hope that NRW gets logical and gives the leeway that is common sense.

I'll have a look at your links and thanks.

Gla and come on NRW an extra decimal point or 2 in our favour will be appreciated.

Let's hang fire until at least tomorrow.

If there's a bad RNS, then looks like the dumping of stock was a bit of a tip off from the placing investors.

If there's no reason to presume bad news, then it seems like a heavy duty tree shake. But also look at the presumed buys as well !! Looks like most of the dumped shares got taken back up with buyers, probably us lot of lth's. Lowering our break even's and averaging down.

Let's try not to panic, tomorrow we might be back up, hopefully.

Gla etc

Should we be a bit more nervous that my last post?

There's a few 10,000,000 dumps today, a bit more than usual. Could these be from the placings (people fed up waiting) or something else?

Might well be buys soon again below the placing price.

Hmmmmm , maybe an update IS really needed now.

I think a few problems should have been expected from an unused mine, that has not be safely able to work on for many many years.

So the excess water could or should have been pencilled in.

I'd imagine as water finds its own levels that, at whatever the level was at approximately at that point it naturally drained away.

So there was an existing drain maybe and maybe if this can be found, then additional water maybe released naturally!! Without a problem. (Although we don't want to fall out with the powers that be).

Maybe possible to block off some of the water inlets into the mine?

Whatever the issues, they can be overcome one way or another.

But it would be nice to get at least a monthly update.

I don't think calling for any bodies head is going to be constructive and I do think the issues will, and are being sorted, bit by bit.

Ps please don't do an Angus and carry on semi blindly with unobtainable time lines that will cause mistrust.

We should all expect further placings, but let's make them progressive and with a continued rise in the SP, not a desperate placing to keep the lights on.

Gla dyor etc

Ok, I'm sure I saw a couple of posts last night about the dewatering permit needing to be increased, due to excess influx of water and the pumps just maintained the levels and not reducing them. But they've gone!!

Can someone confirm this and maybe give more information please.

Pro's and con's both ways. I think currently there's lots going on, and likely to be further funding needed over next couple of years, so why consolidate now only to dilute again for further developments.

If Horsehill was sold off, if Greenroc was closer to producing and not needing further investment and obviously the Gold mine was developed enough to start producing then with that stability closer then maybe consolidate then.

Hopefully the SP will be high enough that a potential 100-1 resulted in the SP closer to 50p to £1 a share so equivalent now to being .005p to .01 thats roughly a 4-8 times rise from current. Now that would be nice.

Ps. Plus it sounds good to have millions of shares in a company :-)

Time will tell, let's just dry out the mine and assess where is the best to start mining.

Gla etc

I agree, definitely looks progressive for Europa. It's a job that can be done, given time and has been done by Angus energy with there saltfleetby site. It could well take a couple of years though and about £20M costs (£8M to Europa, hopefully funded from cash & wressle), depending on planning etc and distance to grid. Angus has 2 compressors doing about 10m gas units now where as Eog suggest 6m so definitely 1 compressor with a back up soon after should do it (suppose depends on size of compressor) along with all the other equipment needed.

All in all, its good news, it's not going to be instant success in a few weeks, but indeed its news and progress and looks great along with Inishkea potential and Serenity updates hopefully before 2024. Fingers crossed that this could be a second Wressle value producing asset.

It would be nice to have more than 40% eventually, but let's get it going.

I never said it was an easy company to sort out (Reabold), but nothing worth having is easy to achieve.

It's a case of putting your money (Shares) where your mouth is.

If DB is to be believed and he wants UJO to be the mid level oiler then he's going to have to do some work at it.

Assets or liabilities is just work. Italy if its not a waste of time could be a good asset or something of value to be sold at a later date.

North sea licenses etc ! Please see above.

Corallion had these and Reabold wanted them as part of the shell deal for £250,000. So they have value to somebody and potentially worth more than the £250k.

So if we want a safe investment then get out of Aim and into a building society. If we want ambition then lets be ambitious (but not stupid) and I don't think for 1 minute DB is stupid, he seems quiet level headed (just not overly ambitious) at the moment.

Lets get some action going.

GLA etc

I agree TAC, that UJO cannot progress with West Newton, due to the operator and partners Rathlin and Reabold. The straight forward fact, they have not got any money to develop and as to date are also unlikely to get any, any time soon or for the forseable.

Realistically how much proven recoverable oil is there at WN ? How much would it cost to drill with the oil based mud etc.? Would 1 well recover costs within a short time frame? Etc etc.

Basically what I'm getting at is, how ambitious is UJO (MC £28M ish), Reabold (MC £11M ish), Rathlin (MC ? But 50%+ owned by Rathlin so est £5M).

Can you see the numbers I'm juggling with. I appreciate this is simplified but if Egdon can get taken over (seemingly on the cheap against Wressle, never mind there other potential assets). Then surely if DB has got the ambition still of becoming a mid sized oil company (circa £100M MC) then its never going to happen, relying on operators like Egdon, Rathlin and Reabold.

Maybe its overdue to take the bull by the horns and take the gamble on a combined takeover off Reabold and Rathlin, using shares and not cash and get this business into the talked about ambition that we have all been listening to and in some cases believed.

Reabold I'd suggest could be taken for £15M in new share and Rathlin maybe £6-7M (£3 ish) due to Reabold's stake.

It would be a paper deal that I think the Reabold shsreholders would jump at, as they would also have a stake in wressle and a change in management.

Are we all talk and not enough action?

Dividends and buyback, no problem with, growth is restricted by others, so let's make the restriction disappear.

Just my thoughts DYOR etc.

Well if the new shares are tradable now, there obviously on a paper loss at current SP.

Not many initial trades in the first half hour or so, so hopefully from the placing they are keeping hold of the shares for now.

Can forward selling actually take place at a previous price ?

If so how can this be done?

I still think Alba will come good, but that might be more blind confidence than actual fact at the moment, at least until the mine is dewatered then I'm hoping for true facts and actual lots of visual gold and easily mine able locations.

Any comments on the placing forward sales ?

Appreciation to you Scotalba.

With your insights and "man and his dog".

This gave us an opportunity to buy in if possible and if we trusted you.

Fortunately I did, previously around .1 ish. Unfortunately missed this last one but tried a cheaky one this morning with a Fill or Kill with HL, Unfortunately it was killed. But I topped up quite a lot over last few months.

So Thank You, and if we ever meet, preferably at the mine, then the first round is on me.

Cheers HDT/GnO.

Well it's been very quiet since yesterday !!

Any gossip or facts at all from the AGM.

I appreciate its mainly about the agenda and votes, but there must have been some information.

Any comments?

I'm just wondering, if there's a currently farm in negotiations ongoing, (of which I hope so) how long would this still take to complete and then arrange to drill, prior to license expiry date?

I think its january next year (expiry date), but what could/would be a potential timescale of actions to get drilling,

Do we need permission to drill still or is that in with the license already?

Can the term be extended easily without Ryan buggering it up etc if need be?

Just a thought and I really hope they get going soon before winter. That would be great.

Gla