Member Info for ocelot

Yes, for myself, "everyone" would be more appropriate than "shareholders" because it doesn't suggest you might be a shareholders or be planning to become one.

Best wishes, Ninetails.

Why doesn't UKOG actually publish that depletion curve and give shareholders the full picture?
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When you speak on behalf of shareholders, it might be an idea to indicate that you are not one yourself and are not intending to become one.

Are you considering becoming a shareholder, cyan2?

Are you a shareholder, cyan2?

Note: the only potential buyer of Alba's stake is UKOG, ... and they both know it.

Were UKOG overly conservative in determining the impairment against HH in the last accounts?

If yes, then they will be able to write back to the income statement some of the impairment in the future.

Very basically, GF is saying this:

we believe Alba is undervalued by the market and by putting the Greenland portfolio into a separate quoted vehicle we should achieve a better valuation for shareholders.

One of the principal criticisms levelled at Alba over the years (and I've been here a while!) has been that they are spread too thinly.

That will no longer be the case.

Wearing a "Gold Mines of Wales" polo shirt for the occasion.
More about Clogau "very soon".
Looking to get Listco's market cap into the 10s of £millions.
Should be news re progress of the transaction in the days and weeks ahead.

Win-win: calls on Alba's financial resources reduced, opportunity to value the Greenland assets on a fuller basis.

Imho, the principal reason Alba's share price has always been held back is because of the unquantifiable funding requirement to bring its projects to fruition and, hence, the constant anticipation of the next placing.

Today's announcement goes a very long way to lifting that uncertainty from the share price.

The market doesn't like uncertainty. Think Alba could be heading for a major re-rating once the implications of this morning's RNS sink in.

(8) Looking to the future, Alba may
1/ choose to sell down some of its stake in Greenland Listco, once the post-IPO lock-in period has expired, or it may
2/ decide to retain its shares in Greenland Listco for the long-term or, at least, until its stake in Greenland Listco has increased significantly in value.

Interesting that there is no 3/ participate in future placings in order to maintain its % stake.

Following a review carried out by the Company in connection with the preparation of these accounts, the Directors have determined that the fair value of the Company's investment in HHDL should be revised down to a figure of GBP4,000,000 (2019: GBP5,430,000). The Directors commissioned a third-party market-based valuation of Alba's investment.

Penguins, it's written in English and it is all contained in the one paragraph.

£29.1m for UKOG's stake in HH, based upon Alba's valuation of its minority stake, provides solid support for the share price.

+ Lidsey + Turkey.

The share price is patently undervalued at 0.215p giving a market cap of about £27m.

Following a review carried out by the Company in connection with the preparation of these accounts, the Directors have determined that the fair value of the Company's investment in HHDL should be revised down to a figure of GBP4,000,000 (2019: GBP5,430,000). The Directors commissioned a third-party market-based valuation of Alba's investment.

The directors' review determined a fair value founded upon a third-party market-based valuation which they commissioned.

It is clear, therefore, that the £4m valuation of Alba's 11.765% stake in HH is as a result of the third-party market-based valuation they commissioned.

From Alba's RNS:

The Directors commissioned a third-party market-based valuation of Alba's investment (in HH).

UKOG's share of HH is 85.635%.

£4m x 85.635/11.765 = £29.1m.

My calculation is slightly wrong, I forgot the small % (3%? I forget) still held in HHDL by another company.

UKOG's share of HH is 88.235%

£4m x 88.235/11.765 = £30m.