Member Info for ocelot

Got my units confused: they've explored 6 miles (not kms) out of about 30 kms.

And to put this in further perspective:

1/ the 2012 report estimated a top-end-of-the-range potential of about 500,000 ounces. But this was before the work undertaken by Alba;

2/ Alba's exploration of the gold field has covered about 6 kms out of about 30 kms.

So the ideal is for Clogau to re-start commercial operations and generate the funds to undertake major exploration of the Dolgellau gold field.

Might as well complete the sequence, so this is from the 3rd RNS re the gold anomalies, that of 18/06/19:

-- The full sampling programme has identified nine new anomalies that are not associated with any significant historic mining.

-- Weighted average grades for all the new anomalies are well above the average gold-in soil grades for Clogau-St David's and the other historic mine areas.

-- The latest results show extensions to the previous gold-in-soil grade anomalies and new anomalies have been identified to the west of the sampled areas.

-- Gold mineralisation has now been confirmed across 6 miles along the strike extent of the Dolgellau Gold Belt and from within multiple geological units...

Alba's Executive Chairman, George Frangeskides, commented:

"We now have all results in from Phase 1 of our regional gold exploration programme at Clogau. In total we have identified no fewer than nine new gold anomalies that are not associated with any significant historic mining, with these results now confirming gold mineralisation over six miles across the Dolgellau Gold Belt. This is a great result." ...

After the RNS of 29/04/19, this is from the next RNS reporting on the Dolgellau gold field anomalies, that of 29/05/19.

At the time, one had become accustomed to quite dry and detailed RNSs from Alba, so for GL to use the phrase "genuinely exciting" caught the attention:

Alba's Executive Chairman, George Frangeskides, commented:

"Our regional exploration of the Dolgellau Gold Belt continues to bear fruit. We have now confirmed mineralisation across around six miles of the Gold Belt, and in total have identified seven new mineralised zones which are not associated with historic mine workings. The fact that the average grades for those zones exceeds the equivalent grades obtained over the Clogau-St David' s mine itself is genuinely exciting." ...

LodesOrLoads,

Alba have been very bullish about prospects at Clogau and the Dolgellau gold field for more than 2 years, imho, (I would date it back to the discovery of 10 new anomalies in the field, the first discovery of such anomalies being reported in the RNS of 29/04/19).

All the work done in Wales since the end of the first lockdown appears to have either confirmed or exceeded their expectations, hence their narrowing focus on Wales.

Given their actions and the tone of their reports, it seems to me they already know Clogau is a commercial proposition. And, then, there is the "vast" potential of the Dolgellau gold field.

On the UKOG thread, Moneymunch has been posting some content about geothermal.

And they've even installed traffic lights for the occasion!

We've no idea what "more information" NRW have requested, so we don't know if this information will take time to provide or can be provided without too much trouble.

Delays are part and parcel of this kind of application, so it may be disappointing but it isn't a surprise.

Thank you for your message, Ozzy52.

The government's net zero emissions target is ambitious.

Have they thought through the implications of their target? Almost certainly not.

UKOG is quite right to begin to position itself in that perspective.

Nevertheless, as SSE's trading statement of 22/07 showed, the UK's wind and sun are not entirely reliable sources of energy, so the hunt is on for other sources:

Output of electricity from renewable sources in which SSE has an ownership interest across the UK and Ireland was 403GWh, or around 19%, below plan in the quarter to 30 June 2021, mainly due to weather conditions.

elir71,

Let me say thank you for the information re the discharge permit.

And, yes, I seem to have got it wrong about Alba receiving any cash from the IPO, (apart from the reimbursement of certain costs undertaken on behalf of Greenroc Mining).

elir71,

You are entitled to your own opinion, but, for consolidation purposes, I don't think the listed or non-listed status of a subsidiary makes any difference. Why should it?

Divermike,

Greenroc Mining will be a separate listed company with Alba as a major shareholder. While Alba holds a majority share of the capital, it will also be a subsidiary of Alba and, therefore, consolidated in Alba's group accounts.

Don't forget any perceived re-rating will have dropped by 31% (nearly 1/3 for the purists) in the last year due to the number of shares in issue.
-----------------------
Ibug,

With the exception of the open offer, the results of which should be released on Monday, the share price already reflects the increased number of shares, so it is the share price which should re-rate on any positive news from Basur-3.

Just a reminder of why my opinion is that of a "strong buy" and has been since early April.

Consider the share price makes no allowance for the possibility of success in SE Turkey.

Basur-3 is the first of a planned multi-well campaign. Applications are in for additional licences in the neighbourhood.

Any indication of success at Basur-3, however one chooses to define success, would, imho, require a reassessment of UKOG's prospects and a significant re-rating.

It's a question of time, MRPlumper, there is no point in reading posts which do not contribute anything useful to an investor in UKOG (and the same applies to my posts, too, of course).

While Alba retains a majority stake in Greenroc Mining, Greenroc Mining will be a subsidiary consolidated in Alba's group accounts.

This is going to increase the size of Alba's group balance sheet and further reduce the importance of HH within it.

Experienced, senior management team with complementary skillset

AIM Admission in August 2021 to support near-term high growth strategy

.