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Sorry Pboo,
I'm going to have to filter you again, your so depressing you make a Goth look like Mr. Happy.
There's so much negativity from you about anything to do with UJO etc that you've so obviously got a chip on your shoulder.
Please watch some happy programs, you really do need the assistance.
Nice one Ocelot,
Got it thanks and I've sent a few questions in. Not too drastic I hope and let's hope we get some positive answers for the future.
Much appreciated
HDT
Hi All,
For the upcoming Vox Markets interview and GF answering questions.
How can we put forward questions for George to Hopefully answer?
I've looked on the Vox Markets website also Alba's website and I cannot find an opportunity to ask / write questions to be forwarded.
Any help would be appreciated
HDT
Well written Scotalba,
I agree with your comments, George and Mark are needed, they are the figure heads of the company.
They could do with some help though and I'd suggest the PR company that is supposed to be working with them ! seems not to be working with them properly or effectively.
I note a few people have messaged through the website, me included and it seems quite a few have not had a reply (Not sure how many questions are sent and replied to or ignored)
This company has so so much potential if marketed and run right.
There are only so many hours in the day and I would imagine George and Mark especially at the moment are maybe a bit over worked or in demand and a good assistant could help with some of the smaller time consuming projects and correspondence etc.
Yes we are down still on that last few weeks but, just look at the numbers being traded.
The millions being sold are taken back up usually in the same day by buyers.
I'm also not worried about the LSE red or blue's as it does seem that even when people are selling !! the price was higher in a lot of cases than the previous sales (one after another/so not affected by alleged buyers blues).
So although I am concerned like we all should be, it's not the end of the world.
Seems a lot of Aim stocks have been negative for days now, especially oil's (mine included).
Gut feeling only, and we can see this in the news (It's bloody tight out there and people are worried)
Just a feeling, no facts, no promises and as they all say GLA DYOR etc
Nice one Scotalba, it's always good to get updates and clarification of the facts. lets just hope that NRW just get it passed off positively and urgently.
I wonder if they have looked at ways of reducing the water coming in ?
Maybe its on a water table level so not much chance of it.
If it's flowing from above then maybe, if possible block of some of the inlets ? just an idea and maybe totally impractical, after all it's not like there's a few slates missing is it.
Fingers crossed. It's been a bit drier at my end of the North, not sure about Wales area, does anybody know the rain fall over there?
GLA
Sound perfectly reasonable comment Ocelot.
Wording can be used to interpret all sorts of potential issues and a person with legal experience should have maybe planned for that.
We will have all read various solicitors letters type paperwork from property purchases to leases etc etc and they do feel like they cover a multitude of sins to the extent they read like waffling, but this covers the majority of issues.
There doesn't seem to be any common sense or leeway these days and maybe it should have been anticipated by both parties that a flooded mine has been letting water in and obviously more when it's raining, so I'd suggest both are at fault and NRW should give leeway and retrospectively let more water get pumped out until a better fix can be sorted.
Fingers crossed
Ok Granted the SP is bad and about 20% under last placing.
The progress has been dire with the additional water nobody could plan for accurately, but at least the other safety items have been mainly completed, whilst dewatering continues.
The news updates are also very poor and could be considerably better in what should be an exiting time, after the long long wait. (Even a longer video of safety equipment would be nice !)
I appreciate we have all been overly patient and now reading this board some very impatient from previously being optimistic views. We seem to be getting just gloom and doom and more and more water.
I still feel optimistic with this company and I feel the first photo/video/RNS with any gold visually seen will create a frenzy of averaging down and buying for the potential Bonus.
What do people out there actually want from the BOD's ?
1. Maybe more updates showing progress or problems.
2. Action plans with Timescales.
3. Communication from email's and general enquiries etc
This is just my opinion and thoughts etc
GLA etc
Great we made a paper profit on the Greenroc issue, this will look good on future investors looking in. An expected working loss, as we are not producing yet, but that's normal for this type of company and cover with the placing etc.
There was a mention of copper on paragraph 8, but it looks like the final words where missing from the RNS.
I'm hoping this is not a problem and I believe many minerals are found around gold deposits, could this be something else that could also be commercially mined from the site and potentially the waste dumps as well?
I believe they have the mining rights for more than just gold, from an RNS ages ago, I'll research and find out when I have time.
Copper is quite high in value currently and although we are not sure of the quantity available, this could potentially be a another opportunity for additional income. I'm sure they will have already looked at this as well Mark will know his geology.
The dissolved copper will probably be some copper sulphide or sulphate dissolved in the water, (not a good thing to have whilst removing water from the shaft but should be able to be removed if needed, using some kind of ion exchange resin(s). I'm sure they will have already thought of this and may have already added to the settlement tanks etc the appropriate filtration equipment to reduce any possible issues.
They also mention a few subsidiary companies Aurum Mineral Resources Limited ("AMR"), Mauritania Ventures Limited ("MVL"), Dragonfire Mining Limited ("DML"). Does anybody know if these have any assets or value or are they just dormant companies ? I know the Ireland asset has been relinquished, was one of the companies the owner of that license etc. Any info would be appreciated? cheers
All in all I'm hoping this will be a positive and shows progress is being made although there's always going to be a hick up or resistance from something along the way.
GLA DYOR etc and lets hope for another RNS shortly with a positive on at least a bit more dewatering.
Looks like the permit is down to our friends at NRW again, SA suggest a normal application time, so not sure on the timescale (maybe a few weeks, but hopefully sooner).
Scotalba's friend with dog says it's in, but confidential and no updates at moment.
Seems they applied for it quite quickly whilst dewatering at 100M3/day as this was for initially a 16 day period then reducing to 30M3 / day. I'd guess they assed the quantity of water being removed against actual depth still needing to be removed and assessed that the 30M3 just wouldn't sort it after the 16 days (nobody could accurately predict the actual volume of water in the shaft).
so fingers crossed, it stops raining and flowing more in and if they are only allowed 30M3/day currently then this will slowly reduce the water until we hopefully get the 250M3/day permit, to finish the job.
This is going to be volatile share for a long time and probably at least until they are constantly mining. Tree shakers, rampers and de-rampers will love it as when gold is involved, we all get a bit feverish !!
information is key and until we have true actual information, then only the speculation and rumour is available.
Just try to be cool !! That's not easy when money is involved.
GLA etc
Cheers Scotalba, Are they actually doing that now or is it just the request ?
I looked on the NWS website and couldn't find the update, but I trust your comments from previous history.
Ok looks like clarification is needed here.
The license to remove the water at 100 M3/ day was only for 16 days initially, Then this dropped down to 30 M3/Day for the rest of the time for maintenance and up to 31st March 2030 (6-7 Years)
The original plan expectation was that it should take about 14 days to empty the mine shaft, so fair enough from the plan (Unfortunately it appears that the water was coming in still whilst emptying (probably worse due to the rain). Then the 30M3 was for routine maintenance to keep the mine dryer from the obvious leaking in (as observed over the years the mine filled up)
I would imagine that the 30M3 is now just holding its own as against people's comments of still doing 100M3. So I believe, although I've not seen yet that an increase to 250M3/day has been requested, this will hopefully be considerably more than is needed and if granted soon might just get us back on track.
Come on lets be realistic, we could/should have anticipated additional problems. What project like this is going to run smooth ? You can try and plan for the unexpected but it's a little bit difficult if not impossible, and how much time can you spend planning plans A to Z and beyond, when all us shareholders are screaming with frustration "Let's get stuck in".
There are many views I appreciate on this board, I do feel the information could well be better and updates more forthcoming or scheduled for us, but I do think/hoe the BOD are doing a reasonable job with their hands tied up with regulations.
This I copied from the NRW "Transfer License to abstract water"
MAXIMUM QUANTITIES OF WATER TO BE ABSTRACTED
For 16 calendar days after the commencement of abstraction:
4.2 cubic metres per hour
100.8 cubic metres per day
1,612.8 cubic metres per year
At an instantaneous rate not exceeding 1.3 litres per second.
From the 17th calendar day of abstraction the maximum quantities of water the
Licence Holder is authorised to abstract during the periods specified in condition
6.1 of this licence, shall be replaced with the following quantities:
1.25 cubic metres per hour
30 cubic metres per day
10,950 cubic metres per year
GLA etc
I appreciate this bloke has not done us any favours in him dumping stock in the market or to other investors.
He had at 20th April 375,606,061 shares remaining after dumping his quota for the quarter ' .018p valued balance at £6,760,909 Now worth at .007 just £2,626,242 so losing £4,131,667 on paper in that time.
Now that is a sickener for him and makes some of our current losses less proportionately of an issue but it is only a loss to his last valuation if actually sold.
Maybe I'm being a bit naïve and he has sold again. He was had his quota finished with, so when is he allowed to sell again? (April-June) so maybe (July to September) now ? anybody know?
This doesn't help us I know, but apart from the obvious debt saga and the possibility that cash flow is killing us, what else has gone so wrong (if anything) to drop the price so low down.
How long has this field got left to run with current estimated gas reserves versus current production?
Is there another mess potentially likely?
I know the SP is very very low currently to what it has been and hopefully they're not planning another placing anytime soon. as this was a worry last time that brought the SP down.
Anyway I thought I'd throw in my bit, anything positive or constructive is a appreciated as always .
Cheers GLA (we need it)
Dontpanick a bit of an over reaction there to a normal situation.
I wasn't talking currently about the highly skilled jobs of the safety and structure of the place and the eventual ongoing mining operations. I mentioned aqua vacs to get the place a little easier and dryer to work in, so please chill out and lets not blow a gasket on a relatively nice forum with hopefully some good news.
But also apprentices etc are potentially great employee's for the future and if they can learn from the first step then they can be highly skilled later.
All employee's should be respected and on the same level so should management. If you have worked for some of the described employers in the past then sorry to hear that, but some of us employers are good and we give opportunities with prospects for the future. Or would you rather us like spain and have last I heard 20+% unemployment for you adults?
It was a light hearted comment, of which I would, if I was in that position to give a chance for young people to get on the ladder.
I'm sure a lot of older people started with less important jobs than they are maybe doing now.
GLA chill out and let's hope for some good news soon. Best wishes
Hopefully they have sorted the application out and this will progress faster than the dewatering one.
I can't see the dewatering being complete yet. I'd imagine it would be impossible to really know how much water was in the mine with all the tunnels and pits likely to be in there. All this and with the rain, as it has been over July, I'd imagine it is being topped up whilst being emptied.
I thing the dewatering is going to be an on going process and various flooded areas might need numerous pumps with float valves being activated as and when needed. Imagine a roof with potentially hundreds of holes in it and some tunnels will be constantly being (dripped or poured) into every time it rains.
I think the dewatering license was set up for continuous drainage over whenever needed for safety and maintenance (years probably).
But that will be routine and normally wouldn't stop them mining when ready.
Might be a nice video with some of the BOD with "aqua vacs at the ready", (Joking) but a couple or few trusty apprentice maintenance crew would be nice doing the clean up with a "Government employment scheme, paying the wages".
They do exist and would be great PR and take on local people on 6-12 month contracts (close to free employment).
Just make sure security is on board for all staff and contractors in the mine. "Just in case!!"
Nice to get some info and video on the mine developments. please make them a bit longer and maybe a bit less intro and exit music in comparison. But at least it's progress.
Seems a lot of ladders and more time needed, it's like a new adventure with treasure to be found soon.
ps. GF give me a call please about the broker option. D. Crippen should have contacted you !!!
I partly agree Robbie.
George and the other BOD could have bought in possibly, I'm not sure on any company laws on this but as they are shareholders then maybe they could have done, maybe they did, but if so on the broker offer they didn't take many !!
I don't know how many actually took up the offer, I can say at least 2 ? that's me and at least 1 more maybe 3-4 depending on how many shares people wanted.
In my opinion for what it's worth, I took up the offer as I feel the new shares would have been an extra bit of cashflow for the company on top of the other placing and also as a lot of people have been asking for a direct broker offer on the same terms as the "privileged few". I do feel I did a part on supporting the company and hopefully they will keep my details and ask again in the future, "Preferably with warrants attached" next time, and I'll have another go.
I appreciate it's very disappointing Nomlungu and agree a much bigger take up would have been expected if they had given a positive update prior to final day (If allowed to ?).
So I probably wont get any answers to this but who did buy any shares from the broker offer and how many if you are prepared to say?
Also how many bought at a lower price than the broker offer over last couple of weeks (not bothered about how many)
Just an small idea of what people are actually feeling out there?
Cheers HDT
All sorted and my money where my mouth is.
I can't see this dropping down unless there's no gold, so taking on board the surveys and the opinions etc etc. I feel that Alba should be going up soon, so come on GF and MA get the twitter sorted and a really nice RNS sometime next week with a positive update on progress please.
Maybe I could have spent my money last week and got them cheaper, maybe I did as well, but I'm showing confidence in the company and giving a bit more cashflow to progress a little bit quicker.
I'm sure when the mine is safe and secure with adequate ladders and equipment etc there could be a tour arranged one day. Please make sure there is a good pub and restaurant somewhere not too far away and I'll book my ticket.
Hopefully see you there Scotalba and the other good posters Ocelot, Robbie, lodes, noobz, Butchers and a few more.
Fingers crossed anyway and lets see that nice yellow metal glinting soon and then lets get stuck into a proper mine over the next couple of year etc.
GLA etc
TAC, Some of your points are valid and yes Oil is currently the leper in the news.
Protester's will always protest about something whether its Oil, immigrants, nuclear disarmament, women getting the vote or way way back to roman occupation !!!
But we are in the Oil Business so lets do Oil Business.
Maybe this is not the best saying but "Do's the Lion care about the opinions of the sheep".
We bought into this company knowing that Oil is maybe not the cleanliest of assets around but its still got potential for the foreseeable future until renewables take up the balance of power needed to keep the civilisation continuing.
I wont be around in another 50 to 100 years "Probably" but my children will hopefully be and what we do now for investment along with a balance of responsible managing of the planet etc will keep the next and the next generation(s) going.
This maybe a bit of a dramatic outlook for talking about a Junior oiler etc but there is potential in taking over an underperforming partner or competitor it's all down to perspective and ambition.
But I do respect your caution, we all have different outlooks in life and everybody is different. Maybe we are just frustrated with progress some more than others. In my opinion and views I can see great potential here in UJO I just wish they would do a bit more.
Cheers again HDT etc