Member Info for ocelot

Penguins,

All other AGM resolutions were passed with between 92 and 96% of the votes cast.

Yes, nobody can know for sure what prompted shareholders to hold back their votes from resolution 6, but it is an entirely reasonable assumption they did so in order to be able to participate in any fundraising on the same terms as placees.

It is, therefore, entirely reasonable that UKOG are now seeking to raise funds via a placing and open offer.

Shareholders who sought an open offer would have been fully aware this would require an increase in the nominal value of allotted capital by comparison to the AGM's resolution 6.

Curious share price performance given that, in theory, it was the AGM of 12/05 which created uncertainty, with the withdrawal of resolution 6, and the RNS of last Friday, 21/05, which provided clarity, by proposing a placing and open offer.

Agreed, CoolMax, we have gold, of high grade and, if the Dolgellau gold field is taken into account, lots of it (500,000 ounces according to the 2012 report but, given Alba's work since then, that may ultimately prove conservative).

It's just a question of locating it, which Alba are doing at the present, and extracting it.

Mullins,

Some of the naysayers' posts are of such a quality they can be totally ignored.

The fact that no one's come on here defending the co says a lot ...

about the quality of some of the naysayers' recent posts.

.

Indeed, I wonder if the spin-out in itself might not help to focus the minds of some potential joint venture partners.

The JORC-compliant resource estimate for the Thule Black Sands dates back to 14/05/19.

I was invested in Alba at the time and can remember the disappointing lack of response from the market on the news.

Obtaining market recognition of the potential value of the Greenland projects has been a problem Alba have been grappling with for a long time.

In the 2nd half of 2019, they were looking to identify joint venture partners, but, as GF has said, there was no meeting of minds concerning asset value to enable anything to go further.

For myself, the spin-out of the Greenland projects into a separate listed vehicle makes a great deal of sense.

Penguins, I wasn't suggesting their commitment is limited to $5m, I was taking that figure to show the impact of cable movements on the £ equivalent figure.

Thanks, Yanis.

I've gone back to Alba's tweet and no date or time is indicated.

When is the Q&A on vox markets, please?

Is it today? And at what time?

Thank you.

UKOG's $ commitments to AME have been reduced in £ terms since the first Turkey RNS of 23/07/20.

It we take the capped amount of $5m:

at 1.25 = £4m

at 1.41325 = £3.54m, a saving of £460k or 11.5%

With a subject-title like that, AimingHigh2021, are you sure your choice of moniker is appropriate?

No financial debt, no substantial liabilities, but continuing commitments, yes, of course.

.

News re Basur-3, firstly.

Secondly, news re the 3 new licence applications re 4 nearby blocks.

Well said, billy101203.

After the AGM of 12/05, we knew they would be coming back with a GM and we knew they were likely to fundraise via a placing and open offer.

And lo and behold, this is precisely what they announced last Friday after hours.

Something which went right for shareholders after the "Gatwick Gusher" was announced was the share price rising to 11p.

"Out of the frying pan into the fire" was the expression which came into my mind.

If David Lenigas is still interested in UKOG, there is nothing to stop him from buying a stake in the company.