Member Info for ocelot

Not cash-rich, agreed, Bubblepoint, but think, too, they are:

1/ being cautious/prudent;

2/ keeping their options open (eg. "potential acquisitions" may require a cash element)

As announced on 22 February 2024, Angus Energy entered into a Financing Facility with a subsidiary of Trafigura Group PTE Ltd ("Trafigura"). The terms of the Facility are unchanged from those of the term sheet summarised by the Company via RNS on 20 December 2023, being a 5-year loan, with a twelve-month grace period on principal repayment and then approximately even amortisation from March 2025.

Clearly, therefore, Trafigura must have been in the picture for quite some time before the release of this morning's RNS.

Https://www.independent.co.uk/news/world/americas/us-politics/trump-tusli-gabbard-spy-greenland-b2746117.html

UK natural gas futures rose above 83 pence per therm, moving away from a 9-month low of 76.5 seen on May 1, as colder weather lifted heating demand and supply from Norway fell due to maintenance at the Kollsnes facility. The move mirrors a broader rally in European energy markets, supported by tighter LNG supply conditions. Chinese buyers have returned to the spot market after a long pause, intensifying global competition for cargoes. Ongoing summer maintenance and unexpected outages in Norway are reducing flows further. Meanwhile, the EU is set to unveil plans to halt all new and spot gas purchases from Russia by year-end as part of its 2027 exit strategy. Market sentiment also improved on signs of potential US-China trade talks, though uncertainty lingers. The UK’s limited gas storage and reliance on European imports make it especially sensitive to shifts in supply and global competition.

https://tradingeconomics.com/commodity/uk-natural-gas

Ongoing tests are important and we should know results before long, meantime payments to Trafigura are delayed slightly.

Agreed with all you have said, Bubblepoint.

This looks as if management is acting very cautiously to preserve cash while work continues at Saltfleetby.

If so much stock wasn't held by a few hands, would have thought they themselves might be vulnerable to a bid.

Really good photographic report showing different members of the team and different parts of the mine and of the extraction and processing of the ore.

Photographer Matthew Horwood was invited to the mine by Mark Austin, Chief Operating Officer at Alba Mineral Resources, and his team to see how they're getting on. You can see pictures taken this week from the mine below.

In an interview on NBC’s Meet The Press on Sunday, Trump was asked whether he would rule out using force against the territory.

“I don’t rule it out. I don’t say I’m going to do it, but I don’t rule out anything. No, not there. We need Greenland very badly. Greenland is a very small amount of people, which we’ll take care of, and we’ll cherish them, and all of that. But we need that for international security,” Trump said.

https://www.theguardian.com/us-news/2025/may/04/trump-greenland-denmark-military-force

"... We were delighted by the hammer price for the first coin and equally, if not more so, for the prices achieved for the second and third coins. We think that SELLING THE COINS FOR 8.5 TIMES THE SPOT PRICE OF GOLD, ESPECIALLY WHEN GOLD IS ALREADY AT RECORD HIGH PRICES, IS A PHENOMENAL RESULT !" (my capitals - from a hub Q&A answer of Friday 02/05 at 5:53PM)

For the coming year, the Board is aiming to achieve the following:

· Complete further underground bulk sampling at the Clogau project to produce more gold and to prove up an economic model for the reopening of that section of the mine for commercial production

· Design, market and sell gold products from gold extracted and refined from that further bulk sampling programme

· Complete a first phase exploration programme on primary targets at the Finnsbo rare earth and gold project in Sweden.

Yes, UKOG management's intentions re HH will be key to the level of impairment of HH assets in their audited accounts.

FollowTheVein.

Re the agreement with the Crown Estate, I believe I have quoted all the information provided with the final results.

No mention of Kobus Byleveldt, but his successor is mentioned under March 2025:

"Announcing the appointment of Dr. Peter Bolt as Chief Mining Engineer for the Clogau Gold Mine. A highly experienced mining engineer, Dr Bolt had previously consulted to the Company in relation to the Clogau Gold Project".

The Company derives its rights to explore the Clogau Mine pursuant to an option agreement with The Crown Estate. The previous option having expired, a new, multi-year option agreement has recently been signed between the Company and The Crown Estate, effective from 10 February 2025, covering a total area of 100.55 km² encompassing the Clogau-St David's Gold Mine and surrounding areas.

Tapman,

Those Director Deals are incomplete.

Very fat finger syndrome!

"The share price was in the gutter".

Agreed. A rally was reversed on the RNS of the Friday and the share continued to trade on the Monday ahead of the suspension.

Market cap at time of suspension: £1.68m.

"Any accountant trying to find a way of declaring they're a going concern must be going crazy".

Given the company's recurring cash needs, the accountants qualify the accounts each time. For example, from the last published accounts:

"Material uncertainty related to going concern

We draw attention to note 2b in the financial statements, which indicates that the group will require additional funding in the coming twelve months to meet their ongoing cash requirements. Whilst the directors anticipate that such funding may be obtained from a number of sources, there can be no certainty that such sources of funding are obtained in the timeframes necessary. As stated in note 2b, these events or conditions, along with the other matters as set forth in note 2b, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter".

14.11m at 0.248p at 16:31:19.

This price was well over yesterday's closing price of 0.215p.

Https://apnews.com/article/denmark-king-greenland-trump-arctic-minerals-security-25eb39ea5202ec83afbb76093326d62d

https://www.ndtv.com/world-news/amid-donald-trumps-threats-to-buy-greenland-a-quiet-visit-by-team-of-us-investors-8297925

... The American business team that will visit this week includes senior officials from mining firms like American Renewable Metals and Refacture, Critical Metals Corp, and Cogency Power. The delegation will be led by Drew Horn, CEO of GreenMet and former chief of staff for the Office of International Affairs at the Department of Energy during Donald Trump's first term as US President.

The delegation will visit the Tanbreez mining deposit, one of the world's largest rare earths deposits.

Questioned about the intent behind this move, Mr Horn told news agency Reuters that "I'm not trying to do anything crazy like orchestrate a purchase or acquisition of Greenland by the United States."

It's "simply a traditional private sector business development," the former Trump aide added ...

It's possible the appointment of a new auditor implies "manoeuvres" are under way but, if that is the case, what kind of manoeuvres?