Member Info for ocelot

GreenRoc Mining Plc is looking to acquire Alba Mineral Resources’ Greenland mining portfolio and to carry out a simultaneous capital raise in conjunction with its Admission to AIM.

The low expectations are a plus, they reduce the downside risk and increase the potential upside reward.

It's beneath the offer price of 0.18p at the present time.

Basur-3 drill advancing, Loxley appeal inquiry begins on Tuesday, 27th. Nobody knows in advance Basur-3's results, but expectations are low, given the current share price.

See the RNS of 9/07 but the deadline for applying (certainly for my broker) has now passed.

"The future of the Amitsoq project IN that new listing ...": the timeline of which GF speaks is Greenroc Mining's timeline and no longer Alba's.

Yanis2005,

Think the Greenland IPO is imminent, hence Zak Mir's interview with Greenroc Mining's Kirk Adams of yesterday.

Tidying up papers, stumbled across this quote of GF's from the period of the first lockdown:

"we've had coming to us international jewellery firms of repute".

(GL is ANGS, not Alba!)

Tidying up papers, stumbled across this quote of GL's from the period of the first lockdown:

"we've had coming to us international jewellery firms of repute".

https://www.barchart.com/stocks/quotes/UKOG.LN/opinion

50-day moving average down to 0.195p

But it's still not clear:

Greenland Listco acquires from Alba all the Greenland Projects for shares.

Alba then sells into the market less than half of those shares via an IPO.

I've gone back and may have got this wrong, ie. the IPO does not appear to involve any cash injection into Alba:

From the original spin-off RNS of 20/05:

It is intended that Greenland Listco will acquire the Greenland Projects (see Table 1 below) for shares and simultaneously undertake an IPO (Initial Public Offering) fundraising to secure the necessary working capital to fast-track the development of the Greenland Projects.

elir,

Alba get listed Greenroc Mining shares for the part of their Greenland portfolio they retain and cash for the part they sell.

Yes, Alba are selling about half of their Greenland portfolio to the market via an IPO.

The other 49% (or whatever percentage it is) go to investors in the IPO, that's the origin of the shares for the IPO.

My understanding is:

Alba are retaining the majority of their Greenland portfolio in the form of shares in Greenroc Mining and selling the balance, for which they will receive cash.

Over and above Alba's own holding, Greenroc Mining will be raising funds for its own needs from investors in the IPO

The spin-out was announced in the RNS of 20/05, just 2 months ago - GF has moved with considerable speed to get things where they are today.

.

Good beer!

New Listco's name is Greenroc Mining.

This IPO is very close now, he spoke all the time of what "we", Greenroc Mining, are undertaking at Amitsoq and TBS.

Note that the IPO will not simply sell Alba's stake in its Greenland portfolio but also be raising funds for Greenroc.