Member Info for ocelot

Not sure it's a matter of getting excited, more a question of the company's Chairman respecting the indications provided by GL and buying more shares in the company.

Elir,

Not sure the £300k was "loaned" for the projected in-fill wells at HH, which are not on the near-term horizon. Imagine Alba's advance simply formed part of the most recent funding round for HH participants.

The 8th Earl is leading the way and ... making an investment which should reasonably multiply many times over in the months to come.

Are we expecting any updates on the production figures / progress of new wells at HH ?
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Elir,

HH's production figures are released by the OGA on the 1st of each month with a 3-month delay - they are currently stuck around the 100 bopd level.

New wells at HH are not planned for the immediate future, UKOG's current focus is on the Basur-3 well in SE Turkey.

Get Clogau up and running as a commercial venture and they can employ some of the cash generated in the further exploration and exploitation of the Dolgellau gold field.

The potential here is, in a word used by Alba themselves, "vast".

Director/PDMR Shareholding

The Company has been informed that Patrick Clanwilliam, Chairman, on 15 July 2021 purchased 1,000,000 Ordinary Shares of 0.002p each ("Ordinary Shares") at a price of 1.0175 pence per Ordinary Share. Patrick Clanwilliam's total shareholding in the Company is now 4,515,152 Ordinary Shares representing 0.46 per cent. of the Company's issued share capital.

If Basur-3 and Loxley prove successful, he should be sorted for considerably longer.

Somewhere around £500k raised is my guess.

Scrolling down the RNSs, as of yesterday, all of Alba's portfolio is now 100%-owned except for:

1/ Clogau: 90%

2/ HH: 11.765%

We know the gold is high grade and commands a very substantial premium, it's a question of locating it: Alba give every indication of knowing how to locate it.

Alba’s Executive Chairman, George Frangeskides, commented:
“The fact that our team have unearthed this new high-grade gold target on our licence
area, grading up to 24 g/t, is a timely reminder of the great potential of the Dolgellau Gold
Field, which is solely under licence to Alba. There are some 300 historical workings in the
Dolgellau Gold Field, not to mention no fewer than 11 past producing gold mines.”
“We will be returning to this target area as soon as possible for follow-up exploration of
the multiple structures we have identified.”

https://www.rns-pdf.londonstockexchange.com/rns/0567G_1-2021-7-21.pdf

The IPO will capitalise the Greenland portfolio providing funds which Alba itself has not been in a position to provide.

The investment of these funds will be for the new management to decide, but the hope must be that, over time, Alba will possess a smaller percentage of a much more valuable business.

$72.18

We remain confident that the Appeal will be successful and that the Loxley project, one of the UK onshore's largest ever gas discoveries, can take its place as a source of feedstock for reformation into hydrogen, a key new sector to help the UK meet net zero. (Interim Results RNS of 30/06)

Think GF is moving faster than I, personally, had anticipated, looks as if this IPO could be with us really quite soon.

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If the IPO was to be heavily over-subscribed, then the cheap way in would be ... to buy Alba!

A placing on the basis of a significantly higher share price isn't a problem, the problem has been raising funds when the share price has been so down and out.

Will the IPO be over-subscribed?

In absolute terms, we're not talking about that much money and it look as if they are aiming to float New Listco on a very reasonable valuation basis.

Personally, think the very idea of a Greenland-centric mining company may attract substantial funds just in itself.

... and not forgetting the suggestion of a valuation of New Listco in yesterday's RNS.