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£30m will be only 3% of the enlarged company.

It will be good to see the licensing deals turned into revenue in 2026.

On completion AMG's 3% will be worth approximately £30m given UPSA have resources worth over £1bn+(infered). They are in the process of upgrading the CPR from infered.

Don't no why it missed some words off but the gist is there

atlas metals group plc is funding the £1 billion reverse takeover (rto) of universal pozzolanic silica alumina ltd (upsa) through an all-**************. no cash is being used for the acquisition itself.

here is a breakdown of the funding structure:

**************: the entire £1 billion consideration will be settled by issuing new atlas ordinary shares to the current upsa vendor shareholders.

ownership structure: upon completion of the deal, existing atlas shareholders will own approximately 3% of the enlarged company, while the upsa vendors will own 97% (on a fully diluted basis). this significant shift in ownership is why the transaction is classified as a reverse takeover under uk listing rules.

potential additional funding: the company's announcements mention the possibility of issuing additional new shares to raise further funds to meet the london stock exchange's free float requirement (which mandates more than 10% of the enlarged share capital be held in public hands) and cover associated costs and working capital.

I asked AI is Pyrite more common than gold at Clogau.. the answer "pyrite is significantly more common than gold at the Clogau mine and throughout the entire Dolgellau gold-belt". This why samples need assaying.

The shiny yellow stuff could be any of... Gold, Pyrite, Chalcopyrite or some Iron oxides. Thats why when they eventually get it processed they send it off for assaying.

They are already looking to negotiate offtake agreements so on completion of the RTO they can hit the ground running.

Good to get an update on progress.

There will be a fund raise and if I remember correctly it will be for a maximum of £25m at a maximum discount of 20%. The raise could be less and the discount could be less.

Frustrating*

Doesn't matter if its an old photo or not it doesn't show anything much. AI says...."The image is a promotional photo for Alba Mineral Resources PLC, a UK-based exploration and development company. The rock sample appears to be a natural rainbow copper crystal paragenesis ore, possibly containing chalcopyrite." Thats why they have assays to prove there is gold. I would say in answer to the exciting times comment, I would say more frustraing times and at the moment I'm more inclined to think Clogau will end up a GF vanity project than a commercial gold mine.

If I remember correctly the CPR report in September recommended some small trial pits as well so they can predict resources more accurately.

Upgrading the CPR is important and they have been working on the CPR for a while which probably required infill drilling, once that is completed we can move on.

Its all about the CPR now and I'm happy to hold and wait.

The initial development application for the Warialda Quarry (also known as the Yammacoona Sand Quarry) was granted to Mr. William Clift on April 15, 1988. The consent (Development Consent 32/87) was for extractive industry activities, including the extraction of sand, on specific lots of land.

The rights to the quarry were later acquired by Claystone International Pty Ltd, an Australian company owned by Mr. Clift, which subsequently granted commercialisation and extraction rights to Universal Pozzolanic Silica Alumina Ltd (UPSA).

The initial consent permitted an annual extraction limit of 35,000 tonnes. Plans are in place to seek further development consent to significantly increase this production limit.

Not sure where the £1000 comes in Sham. UPSA obviously need funds to take the project to another level hence the need to go public.

As CC will be transfering these shares to various investors and warrant holders etc... we will see in the next few days whether these holders have the confidence to hang on to said shares or whether they hit the market. I expect most will be hanging on to the shares but we'll see.

Assets not mkt cap *

I'd forgotten about that sketch... maybe Clogau is uncontaminated with gold. Elir would you settle for some premium priced Welsh rock ? ;)

11,203,900,200 shares for a mkt cap of £53m ? SP looks expensive to me if I've done my maths correctly.