Member Info for ocelot

It hasn't been delisted, trading has been suspended until publication of the annual accounts.

They issued an RNS explaining the situation on 28/03.

As GD1962 has said, this first audit of a new client will take more time than usual, as the auditors "onboard" UKOG and get to grips with its accounts.

Moore Kingston Smith are, effectively, making an investment of time in the future of their client.

Let us hope the relationship proves to be beneficial to both parties.

Ranked no 11 v PKF's no 12 position in AccountancyAge's 2024 rankings.

The Times, pp58-59:

Big article entitled "Why Gen Z are starting a new gold rush - Nvidia is out, bullion is for younger investors seeking a safe haven ..."

Insert: "I invested in bitcoin but didn't like it. Now I've turned to gold".

Citywire yesterday: "Richard Buxton (former prominent fund manager): Only gold will make me money in the next 6 months".

Article on page 52 of The Times Business section (in the top left-hand corner) plus photo of the coin supported by some ore.

Gives the £20k auction price. "It marks what is thought to be the first time in 25 years that Welsh gold has been mined successfully from the Clogau-St David's mine..."

Goes on to quote the key passages from GF's RNS of yesterday.

Well done, Alba!

Https://www.accountancyage.com/rankings/top-5050-accountancy-firms-2024/

Auditor

Moore Kingston Smith LLP

6th Floor, 9 Appold Street

London EC2A 2AP

United Kingdom

A so called Energy Security Investment Mechanism (ESIM) was included in the spring 2024 Finance Bill. This measure will end the Energy Profits Levy early if the 6-month average price for both oil and gas is at or below the ESIM threshold prices. The ESIM threshold prices are 71.40 dollars per barrel for oil and £0.54 per therm for gas. These thresholds are based on a 20-year average to the end of 2022. These thresholds will be adjusted from 1 April 2024, and annually thereafter, by the preceding December’s Consumer Prices Index figure.

... Friday's move is likely to galvanize efforts in the West to build alternative supply chains, according to Mercator Institute for China Studies analyst Jacob Gunter.

https://www.reuters.com/world/china-hits-back-us-tariffs-with-rare-earth-export-controls-2025-04-04/

Commercial potential at Clogau: big

Commercial potential at Clogau and the Dolgellau Gold Belt combined: could be very big indeed

Alba's market cap at 0.015p: very small, £1.73m

Market valuation of North Wales in Alba's market cap, excluding, therefore, stake in GROC: tiny, at £0.78m

Conclusion: outsized market anomaly

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

UK natural gas futures dropped below 96 pence per therm, the lowest in four weeks, tracking a broader market decline after President Trump’s aggressive trade tariffs. His new policy imposes a 20% tariff on EU imports and 10% on UK goods, adding to global uncertainty. Meanwhile, warmer weather has reduced demand, further pressuring prices. On the supply side, Norway began major maintenance at its Nyhamna gas plant on April 2, set to last until April 7. The UK, with limited storage and reliance on European imports, remains exposed to potential supply disruptions. With Europe’s gas storage nearly two-thirds empty, concerns are rising over refilling levels ahead of next winter, adding to market volatility.

"It is also a validation of our strong belief in the commercial potential of the Clogau-St David's Gold Mine, and of gold exploration and development across the North Wales Dolgellau Gold Belt generally".

George Frangeskides, Executive Chairman of Alba, commented:

"We are absolutely delighted with the result of yesterday's auction. The strong sale price achieved for this unique and beautifully crafted 1oz, 24-carat coin reflects the heritage and prestige of Welsh gold. It is also a validation of our strong belief in the commercial potential of the Clogau-St David's Gold Mine, and of gold exploration and development across the North Wales Dolgellau Gold Belt generally.

"This successful sale marks the achievement of an exciting milestone as we continue to advance our development work at Clogau."

Indeed, if they could create a reliable stream of revenue, then they would be in a position to take on some debt, relieving some of the need for placings.

Divermike,

But just one a month would already make an appreciable positive contribution.

"Higher gold prices make exploration viable without relying solely on grade" (the video interview with GF in the top right-hand corner of Alba's home page)

1 ounce coin auctioned yesterday for £20,000 (at 1.31 = $26,200).

Spot gold now: $3,088.10

Https://www.bbc.co.uk/news/articles/cr4nlgwzy6qo

... Applying the industry valuation of 14% of NPV for mining companies at Green Roc’s development stage gives a target market cap of £25.2m (10p per share) ... (Berenberg's research piece)

8.5 x spot price so premium of 750%. Yes, well done, Alba ... and congratulations to the successful bidder!