Member Info for ocelot

Management wants to "take the company to the next level".

Hopes to have Brockham in production in late May/early June.

Stresses that Angus has a very strong team.

Looking at opportunities outside of the UK, in North America and in North Africa (no mention of Europe in this interview).

Very basically, UKOG is not valued by the market as a going concern, hence a market cap of about £2m in the place of net book assets of £40.852m.

Has the market got it right? Or will one or more developments take place prompting the market to revise its opinion?

Deltavegatheta,

UKOG's annual report has been qualified by the auditors for a number of years, I think. Nobody can miss this year's qualification plus the comments made by management themselves.

But, while the going concern basis is retained, it remains the case that net book assets are about 20 times the current market cap so, should something significant go UKOG's way for a change, the upside potential is obvious.

A discount to net book assets for a company with a viable future might be, say, 50%.

UKOG's discount to net book assets is currently about 95%.

Should a significant development help to restore investors' belief in UKOG's future, then the potential for a 10-bagger is there.

That was quite a big reservation in the annual report (see note 2.b) so all have been warned that UKOG is "speculative".

While it is treated as a going concern, the book net assets remain there, at £40.852m, which is nearly 20 times the current market cap of £2.1m.

The story hasn't changed: any positive news from whatever source could see this share price shoot up.

"... this hugely prospective, and still massively underexplored, gold belt." (RNS of 02/04)

It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 5 April 2024. (RNS of 28/03)

Coming back a bit currently:

https://www.kitco.com/charts/gold

"Britain's domestic energy production falls to lowest level on record".

"The amount of energy produced domestically in Britain has fallen to its lowest level on record, increasing the country's dependency on imports from Norway, the US and other overseas sources".

Cites figures from the Department for Energy Security and Net Zero.

"Britain imported a net 41.1% of its energy last year, up from 37.3% in 2022, ..."

"... gas remains the country's largest single energy source, accounting for 34.3% of Britain's energy generation".

If previous placings with this and other stocks are a reliable guide, the big volume is traded on the day of the announcement.

We now have "exceptionally high gold grades" confirmed at Level 4 (RNS of 26/03), the expected placing announced (what was unknown in advance was the exact timing and terms) and the spot gold price providing a very positive market context.

All the best to those invested, or contemplating investing, in Alba.

Https://www.kitco.com/news/article/2024-03-28/gold-appears-unstoppable-it-hits-record-highs-above-2250-capping-solid

$2,229.87, that's a new closing high.

There was a time when one could sell "as delivered", ie one could sell today stock due to be delivered on the 5th. I've no idea if that still holds true or not.

No RNS. Wait and see, I guess.

True. Scheduled for the 5th.

So let's hope that is a significant part of the placing now recycled into firmer hands

Half year results to 31/05 should be released by 31/08.

The full year results are NOT due now, the year end is 30/11

Https://www.trafigura-insights.info/who-we-are/locations/

From 04:06, RH:

the refinancing ... "has introduced Trafigura as a strategic partner going forwards ...".

Trafigura "sees Angus as an exciting growth opportunity and they would like to work with us to grow the company in the future".

LONDON, Dec 8 (Reuters) - Commodities trader Trafigura posted a record net profit of about $7.4 billion for the 12 months to the end of September, up 5% from a year earlier, ...