Member Info for ocelot

Yes, sharp drop, and gas is far from being alone.

USD 4,533.80 GBP 3,316.75

Think what is required needs to lift the market cap significantly, to widen management's financial options and enable them to raise funds on the market (even if they choose not to do so).

The continuing discussions around the acquisition of a minority stake in the Gulf of America/Mexico producing assets show that there is more to all of this than the restructuring of the debt.

The 1-year grace period of the debt facility has, effectively, become 2 years.

This means ANGS will be paying interest on the full £20m for a year longer than originally required under the terms of the facility.

In the 6 months to 31/03/25, finance costs amounted to £1.585m.

At 31/03/25, the book value of Oil and gas production assets, after the half-year's depletion cost, was £69.048m - the gas is still there making Saltfleetby a valuable asset.

"... They delivered 10 X dilution with 5 BILLION confetti in issue today. They delivered a mountain of debt that is in default. They delivered royalties for life in return for not a lot. They used an old well as the motherbore to drill the UK's most expensive little sidetrack, that only managed 1/3rd of the 600m they planned to drill and took longer to drill that than most companies take to drill 2 completely NEW wells from surface ..."

All of this predates Trafigura's £20bn debt facility, drawn down on 22/02/24.

FWIW, my impression is that Trafigura is largely in agreement with this assessment, that they believe there is nothing wrong with the team as such which can be supported to fulfill its potential

Remember, at the behest of Forum, Jonathan Tidswell-Pretorius came in as COO but resigned fairly soon afterwards, presumably because he felt the team were doing all that they should be doing in the circumstances.

Not sure that is an answer to my point.

Do you have any insight into Trafigura's thinking?

Bubblepoint,

You speak of Trafigura but what you are really doing is speaking of yourself, saying "if I was the decision-maker within Trafigura, then this is what my attitude would be".

If it's a VERY SHORT leash, it seems to be a pretty elastic one.

But happily their lender and principal creditors are actively participating in continuing discussions to nurse the company back to better financial health.

"The restructuring is expected to provide a stable financial platform to support future operations and deliver long-term shareholder value. By consolidating and refinancing existing debt facilities, the Company will be better positioned to raise new capital in support of organic growth, increased production, and potential M&A activity". (RNS of 13/10/25)

Mullins,

Am hoping the continuing momentum at Level 5 is towards a largely placing-free future for Alba!

Having said the below, the period of regular placings would come to an end with a commercial discovery of gold and any signs of visible gold would probably have an immediate impact on the share price, reducing the cost (in terms of the number of shares) of any further placing in the near term.

One doesn't need to make a placing to raise cash if one is paying in shares.

In addition to the resolution re the acquisition of Motzfeldt, there are 2 standard resolutions authorising the board to issue new shares and to make placings.

At some stage, there will doubtless be a new placing, because overheads do need to be paid and Alba is not yet generating any revenue on a regular basis.

But a brief perusal of this board over the last few weeks will show that nobody has any idea when the next placing might take place.

The acquisition is being paid in shares.

Second Acquisition: the acquisition by Alba on Second Completion of a further 25.5% interest in the Project, and the

payment or repayment, respectively, by Alba of the remainder of the accrued fees and loans owed by Project owner

ERM, for a total of £518,070 in Alba shares ...

But then, you've don't appear to have taken note of his interest on completion of the Motzfeldt acquisition.

... for his leaving his position (not the company where he remains on the board)

Robbie2017,

I have no particular knowledge of the reasons for his leaving.

The deadline for Broadford Bridge is 07/02/26.

https://drillordrop.com/2025/12/11/broadford-bridge-clean-up-imminent-says-council/

Looks to be the highest close since 01/11/23 - is GROC on the way to a major reassessment in terms of its share price?

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