Member Info for ocelot

But they did seek and obtain a £20m debt facility which, presumably, they would not have done had revenues been higher in those 9 months.

Hopefully it would proviDe everybody with upside potential, including Trafigura.

By "llimited" I was thinking of something like £2.5m, the equivalent of 2 quarterly repayments.

Could there be a limited debt for equity swap?

"... in the mean time, the sinkhole default penalties and interest keeps growing.........."

1/ "sinkhole default penalties" require a default to be declared, which is NOT the case;

2/ it is capital repayments which are outstanding NOT interest payments.

Suspension: 19/05/25

24 months prior to suspension: 20/05/23

Draw down of £20m debt facility: 22/02/24

I have not understood the point in mentioning the revenues for the 9 months before the debt facility began.

Https://www.gov.uk/government/news/uk-and-us-sign-memorandum-of-understanding-on-critical-minerals

Https://www.gov.uk/government/news/uk-and-us-sign-memorandum-of-understanding-on-critical-minerals

Drill or Drop's coverage:

https://drillordrop.com/2026/02/06/ukog-announces-broadford-bridge-abandonment/

Motzfeldt Critical Metals Project in southern Greenland

Alba Mineral Resources plc has acquired a 51% controlling interest in the Motzfeldt Critical Metals Project in southern Greenland. The project provides exposure to four critical raw materials: niobium, tantalum, zirconium and rare earth elements, which are essential for clean energy, advanced technology and defence applications.

https://albamineralresources.com/motzfeldt-critical-metals-project

Company comment on Motzfeldt acquisition

“The Company is delighted to have agreed to acquire a significant interest in the Motzfeldt Project, which offers scale, strategic metals, and a stable jurisdiction — a rare combination in today’s critical minerals landscape. Motzfeldt’s multi-commodity potential, particularly in niobium, tantalum, zirconium and rare earths, positions us strongly to support the transition to a low-carbon global economy. We look forward to accelerating exploration and development and unlocking Motzfeldt’s considerable value.

“In addition to Motzfeldt’s strategic geology and resource base, its alignment with the critical raw material priorities of governments in the US, UK, EU, and other allied economies opens up the possibility of public and institutional support for the project. This offers us a significant opportunity — the potential to access grant funding, development loans, or strategic partnerships, which would enable us to advance the project with far less dilution than would traditionally be required on the public markets. This is a compelling differentiator.” (from the website/Critical Raw Materials/Motzfeldt)

https://albamineralresources.com/company-comment

Point taken. Have to see how the market develops and the size of the respective resources.

In its efforts for the West to become less dependent upon China, the US is seeking to put into place price floors, to encourage investment in rare earths and critical minerals. The summit in Washington was 2 days ago, let's see how their plans progress.

Full exercise of the warrants issued on 14/07/25 and exercisable at 0.0255p would bring in more than GBP 400k.

My 11-digit valuation of the inferred niobium resource comes to about USD 54 billion. The figure is so large I hesitated to post it. It certalnly helps to explain the interest shown by some billionaire US businessmen in Greenland.

JORC resources: measured, indicated, inferred.

Tomorrow's GM is to obtain shareholder approval of the acquisition of 51% of Motzfeldt.

Bloomberg reports that in January more than 80% of imports came from the US (63%) and Russia (18%).

This year imports are likely to hit a record because of depleted stocks, especially in Germany where storage sites are less than 1/3rd full.

Alba is a combination of a nano cap and a potentially big business.

"JORC-Compliant Resource: Motzfeldt's Aries deposit holds an inferred resource of 340Mt, containing ... 629,000t of Niobium ..." (RNS of 14/07/25)

Google gives me a figure of $86-87 per kilo in early 2026, so $86,000-87,000 per tonne.

Gives me an 11-digit valuation for the inferred resource.

But if their eventual impact is to deprres prices, then that is all to the good of buyers.

From SP Angel's Today's Market View

Cornish Metals* (TIN LN) 137p, Mkt cap £162m – US EXIM expresses interest in providing financial support to South Crofty

Cornish Metals reports receipt of a non-binding Letter of Interest (LOI) from the US Export-Import Bank (EXIM) “outlining potential financing support for the development of the … South Crofty tin project in Cornwall”.

EXIM may “consider up to US$225 million in financing … [and the announcement says that] … South Crofty may also qualify for special consideration under EXIM’s China and Transformational Exports Program”.

CEO, Don Turvey, said that EXIM’s interest “is a testament to the quality and strategic importance of South Crofty and its potential to become the first new tin producer in the western world” ...