George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Yes he got 75.4% of the total votes cast but he only got 28.6% of the total votes that could have been cast, so an awful lot of shareholders did not vote and the reason why it succeeded.
Also he only succeded by exactly 1m votes, it wouldn't have taken much to swing the vote so a great vote of confidence imo.
I would be very sceptical now on anything that uog says.
For instance they released an rns on 2nd Jan saying how pleased they were about the results for the ASD S-1X exploration well but failed to tell investors that they couldn't afford to pay their share of the cost of the well and had in fact been trying since November to exit Egypt for that reason.
Well it seems the begging letter to shareholders worked, just.
They needed 75% of votes cast they got 75.4%, think shareholders had no option and probably a lot declined to vote against the the placing but couldn't vote for it either.
So maybe now uog will update the market as to whether they have,will or won't pay the outstanding debt and if they could also let the market know the outcome of the default notice served on them in January that had to be addressed by 28th Feb!, they seem to want to keep it quiet.
Thses are market sensitive and they should be made public according to aim regs.
I wouldn't take what BL says with a rather large pinch of salt,
Because of the reluctance to tell shareholders exactly what the outcome of the default notice was there can be no guarantee that they will receive any more money from EPGC.
KEE are owed $3.8m costs owed to them, why should they be liable for Uog's costs they can't just walk away hence the default notice.
BP will also be looking for their debt to be paid.
Maybe after the placing, if the begging letter succeeds, then aim rule 11 might be adhered to!
Anybody take up my tip on bitcoin and the crypto market, fantastic opportunity to make up any losses, don't ignore this but dyor and lots if it because this won't happen very often, every 4 years.
So Bl getting worried that shareholders are going to vote down the placing.
Vote it down and shareholders might lose everything vote it up and shareholders might still lose what little they have left but the bod might get a few more months salary.
Pretty shocking that they want shareholders to vote yes for the placing but still keep them in the dark.
What was the outcome of the default notice for $3.8m owed to KEE?
Have they settled the debt of $1m still owed to BP?
Why are shareholders being keep in the dark, I think we all know why.
Just seen presentation pdf on website and is pretty poor in itself.
Blaming economic climate for their bad judgement on Egyptian assets.
Still haven't paid off debt, presumably bp.
No word on the outcome of the default notice, once again not keeping shareholders in the dark, aim rule 11! do they have a nomad?
Obviously desperate for the placing to go ahead to continue doing nothing but take a handsome salary every month.
Selling ahead of placing looks obvious.
Shareholders between a rock and a hard place.
They need the placing to go ahead, hence the ramping, new employee gets 's rns'd which shouldn't have , presentation to keep the bluff going.
No rns's on what's really happening, keep pi's in the dark,dyor.
They can't afford for pi's to vote against the placing, got to pay the wages every month and dont forget the tea bags, that's why Greg is here, new employee, presentation.
I still can't believe that the new employee warranted an rns but they kept shareholders in the dark for months about the fact they were trying to get out of their egyptian assets and stopped paying their share of costs to KEE.
Anyone know the outcome of the default notice, now that should be rns'd !
Totally agree Thorn, grepeck7 definately falls into that category.
This is just more bluff and certainly does not warrant an rns, imagine the rns's that would be released if every company rns'd a new employee.
Now They should have rns'd the fact they couldn't pay their share in egypt when they stopped paying in Nov, did they break aim rule 11?
Their 30 days to rectify the default notice is up, now the outcome of that Should be rns'd not news of a new employee.
Gregpeck7 take it you sold after your last ramping session, probably lured a few people in that are still holding now.
So I bet you have bought back in and are now going to ramp again and again and no doubt some naive investors will believe your bu...
'Stock is getting tighter now, they also have the uk license'
Just pure and utter fabrication do you actually do any research, I doubt it, and the uk licence is worth peanuts and they don't even have 2 brass pennies to do anything and if pi's vote down the placing they've as good as said it curtains and in reality the placing won't last long and isn't anywhere near enough money anyway.
Lloyd I think the forward selling has been going on for weeks maybe even coincided with the arrival of Earl of aims ramping, was he paid to ramp,to keep the sp up for others to sell who knows, but he's long gone.
Another ramper that use to be here was TheDogFarther left here and went on a ramping spree over on harl's bb, hasn't posted there for a few weeks and the sp is falling and imo also heading for a fund raise.
Part of dyor and looking on bb's as part of that research people need to try their best not to get taken in by rampers and even today there's still at it.
Remember uog still have a default notice to be addressed and the 30days notice is up this week, more news to come.
Anybody who had done their own research diligently should not be the least bit surprised by this placing.
But the thing is there might be worse to come.
I don't believe £1m is enough to get uog out of the mess it's in but it will keep the ceo wages coming in and at around $300k a year it isn't far off a 1/5 of uog's market cap, totally unrealistic.
They need $3m for the work in Jamaica, they owe BP $1m which they say will be paid off from the receivables due from egypt,good luck with that,they owe KEE $3.8m,they had $1m in cash but probably a bit less since that statement.
Looks like a share dilution going to be approved along with the placing at the GM and if people do try and vote the placing down what happens then, ask yourself.
Not advice but anyone trying to recuperate some loses here should do some research on buying crypto/ altcoins, with the bitcoin halving at end April there is an opportunity to make some decent money but as always research research research.
United Oil & Gas Plc (AIM: "UOG"), the full-cycle oil and gas company with a portfolio of production, development, exploration and appraisal assets announces that it has received a default notice ("Default Notice") from Kuwait Energy Egypt Limited ("Kuwait Energy" or "Operator") for a total of USD $3,822,143 for outstanding cash calls in relation to the Abu Sennan concession.
Pursuant to the joint operating agreement ("JOA") relating to the Abu Sennan concession, the Company has 30 days ("Default Period") to remedy the default from the start of the default period which is 28 January 2024
Also bp debt.
The Company is in discussions with its debt provider (current balance owing USD $1.089 million) and will update the market in due course.
Fact not fantasy.
Better to wait and see what the outcome of the default notice and the outstanding debt owed to BP is before making any investment.
Don't be conned by the rampers who post fantasy predictions like 6850%, investing.c.. has this a as Strong Sell, say no more.
United Oil & Gas Plc (AIM: "UOG"), the full-cycle oil and gas company with a portfolio of production, development, exploration and appraisal assets announces that it has received a default notice ("Default Notice") from Kuwait Energy Egypt Limited ("Kuwait Energy" or "Operator") for a total of USD $3,822,143 for outstanding cash calls in relation to the Abu Sennan concession.
Pursuant to the joint operating agreement ("JOA") relating to the Abu Sennan concession, the Company has 30 days ("Default Period") to remedy the default from the start of the default period which is 28 January 2024
Also bp debt.
The Company is in discussions with its debt provider (current balance owing USD $1.089 million) and will update the market in due course.
Fact not fantasy.
Better to wait and see what the outcome of the default notice and the outstanding debt owed to BP is before making any investment.
Don't be conned by the rampers who post fantasy predictions like 6850%, investing.c.. has this a as Strong Sell, say no more.
Eall
Nothing new, still no interested parties.
But let's not read one rns let's read every rns and here's something you won't speak about in any of your posts.
United Oil & Gas Plc (AIM: "UOG"), the full-cycle oil and gas company with a portfolio of production, development, exploration and appraisal assets announces that it has received a default notice ("Default Notice") from Kuwait Energy Egypt Limited ("Kuwait Energy" or "Operator") for a total of USD $3,822,143 for outstanding cash calls in relation to the Abu Sennan concession. Pursuant to the joint operating agreement ("JOA") relating to the Abu Sennan concession, the Company has 30 days ("Default Period") to remedy the default from the start of the default period which is 28 January 2024.
And let's not forget the bp debt.
The Company is in discussions with its debt provider (current balance owing USD $1.089 million) and will update the market in due course.
Feb 27th and due course for news.
Not very clued up are you eall