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vox markets, eliminate the space

https://videos.**********.co.uk/video/5562

Amitsoq lower graphite level is looking "massive".

Amongst other conferences and meetings, there's a photo of GF with the US Consul, who would like Alba/Greenroc to partner with a US partner.

They have serious players who are talking with them about Amitsoq.

Re the dewatering permitting, a decision may be made "soon", "hopefully very soon" but, of course, he's not in a position to give a precise timeline.

Glass half-empty opinion piece from Bloomberg about a couple of days ago:

... although prices are lower than in July and August, they remain high enough to kill the manufacturing sector. When Russia invaded Ukraine in late February, many executives braced themselves for a six-week energy crisis; soon, they realized it would last at least six months. Now they fear it’s going to be six years.

Last week, Thomas Schaefer, one of the most senior executives at Volkswagen AG, publicly said what many other business people and policy makers had only raised in private. “When it comes to the cost of electricity and gas, in particular, we are losing more and more ground,” he said, warning that unless prices fall quickly, investment in Europe will be “practically unviable.” ...

The UK grid spent more than £27 million ($33.5 million) in just one day paying power stations to crank up supplies at short notice, a cost that will ultimately fall on already stretched consumers.

One gas-fired power station operated by VPI Holding Ltd., a unit of Vitol Group, earned more than £11 million, according to figures from Enappsys Group Ltd. Another gas station owned by Intergen BV — Coryton — earned about £12.6 million.

Vitol’s Rye House station made as much as £6,000 per megawatt-hour on Monday afternoon. That’s about 100 times the normal price of power before the energy crisis.

When markets are tight, the grid has to balance supply and demand, including securing supplies quickly when necessary — sometimes at sky-high costs. The regulator is reviewing the rules that allow operators to make what it has called “excessive profits,” as balancing costs are ultimately passed on to consumers ...

https://www.bloomberg.com/news/articles/2022-12-13/uk-grid-paid-27-million-to-keep-lights-on-in-monday-s-freeze?srnd=markets-vp&sref=Em01M8Hr

at $1,807.59 + $26.15, 1.47%.

They are far more interested in attacking positive posters than in UKOG itself - a number of them have remarkably little to say about UKOG: "lifestyle company, dubious character, pump n dump", 7 words in all.

‘As (fund) managers we are aware, however, that share prices have a tendency to react some months ahead of tangible evidence showing that the worst is over.’ (from a Citywire stock expert view of this morning).

It's true, it is satisfying to attribute a share price movement to a particular piece of news or factor but, in reality, it is generally a simplification to attempt to resume in a few words the different decisions taken by very many different investors and traders.

UKOG is followed by many more investors than those who express their views on this board.

If the market can get behind UKOG, then a higher share price will go a long way to resolving the financing of its projects.

Th market will get behind UKOG when enough potential buyers decide the upside potential outweighs the downside risk and when enough potential sellers decide to hold off for a better price.

Note: "acquisitions", not "acquisition" in the singular.

In relation to corporate activities:
- Due diligence costs/payment of option fees in respect of potential new, value-enhancing project acquisitions. (RNS of 10/11)

This is a major unknown but no point in speculating about potential acquisitions ahead of any deal being done.

From Citywire's round-up of the morning papers:

The Times: Europe must take urgent action to prevent a gas shortage next year in the absence of supplies from Russia, the European Commission and the International Energy Agency have warned.

"best case scenario here would be a move towards 3.5p ...".

Awaiting the latest developments, is Angus doing to drift upwards in the coming days?

It is true that the share price has undergone quite a consolidation since it broke above 3p and that those who wanted to trim their position have had plenty of time in which to do it.

Ouch!

The day-ahead price settled at a record £674.78 a megawatt-hour on the Epex Spot SE exchange with the price for 5-6 p.m. clearing at an all-time high of £2585.80 a megawatt-hour. The Met Office has yellow weather warnings for snow and ice in place throughout the UK through Thursday.

From Bloomberg's morning round-up:

UK power prices for today hit an all-time high as freezing temperatures combine with a drop in wind generation that's hurting supplies. The day-ahead electricity price settled at £674.78 a megawatt-hour. Elsewhere in energy, the Czech industry minister called on the EU to confirm a price cap for natural gas. More talks are set for today.

London here.

Snow on the ground and in the trees, beautiful.

oodles.

Glass half-empty opinion pirce from Bloomberg:

... although prices are lower than in July and August, they remain high enough to kill the manufacturing sector. When Russia invaded Ukraine in late February, many executives braced themselves for a six-week energy crisis; soon, they realized it would last at least six months. Now they fear it’s going to be six years.

Last week, Thomas Schaefer, one of the most senior executives at Volkswagen AG, publicly said what many other business people and policy makers had only raised in private. “When it comes to the cost of electricity and gas, in particular, we are losing more and more ground,” he said, warning that unless prices fall quickly, investment in Europe will be “practically unviable.”

The reality is: Energy prices remain extremely high, the continent is at the mercy of the weather, the cost of subsidies is rising at an unsustainable pace, and companies are warning of deindustrialization. Call me a pessimist, but it doesn’t sound like the worst is over to me. That’s because it isn’t.

It's Hunt's confirmation of the intention to end Solvency II rules which may prove the most interesting of the reforms to the City, freeing up long-term capital of pension funds and insurance companies for investment in infrastructure projects.

The map on page 15 speaks volumes:

Portland is the only cluster in the South of England and, as Xodus's report indicates, closest to London.

In terms of geographical location, UKOG appears to have hit the nail on the head:

https://www.xodusgroup.com/media/eijjj15s/0378-portland-brochure.pdf