Member Info for ocelot

elir17,

Extract from note 19. Borrowings from UKOG's annual accounts:

At 30 September 2020, the outstanding loan balances owed to HHDL's shareholders were; Alba GBP2.60 million (2019: GBP2.43m), ...

For participants in the market, it is always potentially dangerous to ignore what the market is saying and the market is signalling a turnaround.

Was there anything in yesterday's annual figures to knock this turnaround off course? No, there wasn't, imho.

Talk of the next placing will be proven true one of these days, but, to date, nobody has got the timing right and, given that it has been talked about so much over the last several months, it will not come as a surprise to anyone.

Zak Mir's forecast on Friday was for a re-test of the recent highs (in the 0.40ps) with a higher target in the 0.60ps, provided the share price holds above the low 0.20ps. On Friday, it did better than hold above the low 0.20ps.

The extract below has been taken from Angus Energy's annual report for the year to 30/09/20 but it will also apply to UKOG:

The Group has incurred indefinitely available tax losses of £xx to carry forward
against future taxable income of the subsidiaries in which the losses arose and they cannot be used to
offset taxable profits elsewhere in the Group.

No time-limit for offsetting losses against taxable profits in the corporate sector, as far as I am aware.

If UKOG becomes reasonably certain a subsidiary where tax losses are located is moving into taxable profits, it can use its tax losses to create a deferred tax asset of 40% of the forecast taxable profits.

UKOG's total tax rate would be, if it had taxable profits, 40%, because of its field of activity.

Gold headed for its best week since December amid a retreat in bond yields and a report that top buyer China may import more of the metal.

After weeks trading in a narrow range, gold has advanced as Treasuries yields and the dollar head for weekly losses. Lower yields boost the appeal of bullion, which doesn’t offer interest. Dollar declines helped spur a broad rally in raw materials, with the Bloomberg Commodity Index also on track for its best week of 2021.

Bullion is showing tentative signs of breaking out of a slump following three straight monthly losses. Prices rose above the 50-day moving average on Thursday, a positive signal for traders who follow chart patterns. On Friday, bullion extended gains to the highest since February after Reuters reported that China has given banks permission to import a large amount of bullion to meet domestic demand...

Spot gold rose 0.8% to $1,778.17 an ounce by 1:43 p.m. in New York. Prices are up about 2% this week, on course for the biggest gain since Dec. 18. Futures for June delivery on the Comex rose 0.8% to settle at $1,780.20 an ounce...

https://www.bloomberg.com/news/articles/2021-04-16/gold-heads-for-second-weekly-gain-as-investors-weigh-u-s-data?sref=Em01M8Hr

re 3/ nothing particularly caught my eye:

that would not have been the case had I not already been made aware of UKOG's interest in geothermal opportunities!

UKOG released its 19/20 results after hours.

They are studying geothermal opportunities, too:

As a diversification, we are increasingly active in the newly emerging geothermal energy field, where we possess the key subsurface and engineering skills necessary to make such projects work. As well as new standalone geothermal projects, we are currently investigating the viability of hybrid energy sites envisaged to derive power from both petroleum and geothermal. We are a founder member of the newly formed Geothermal Energy Advancement Association.

When reading the results RNS, was focusing on 3 things:
1/ the size of the impairments (see my post of 17:56 for the total amount - it was obvious there would be impairments, so it was then a question of their amount);
2/ auditors' comments about "going concern" - no problem;
3/ any new observations re post-balance sheet events and the outlook - on a first reading, nothing particularly caught my eye.

UKOG has released its results to 30/09/20 after hours.

Includes a big impairment against HH-1.

impairment expense: 10,652k
exploration write-off: 6,598k
total: 17,250k

So that's wiped the slate clean!

Note that the results were released before a placing to raise any additional cash.

While we hold above 0.23p, looking for a partial or full re-test of last week's highs and, above that, 0.65-0.70p:

https://www.share-talk.com/share-talk-bulletin-board-heroes-friday-16th-april-2021/#gs.yx7mod

Not really - I could have cited the hoped-for extension of the main lode instead of mentioning the trenching.

nookie,

It was soil sampling that enabled them to identify 10 anomalies. It was trenching that enabled them to unearth a very thick quartz vein. Quartz veins provide the setting for gold at Clogau/Dolgellau. As far as I am concerned, everything currently points to Clogau being a commercial proposition.

I am just speaking for myself, I am not trying to persuade anybody to agree with me.

Not particularly concerned, elir71, speaking just for myself.

Mark Austin said something to the effect that Clogau won't be a big mine, but it will be a high-grade one.

We know the gold is there, they are succeeding in their search for new, undeveloped quartz veins, it's just a matter of time before it comes good, imho.

They aren't responsible for the market, all they can do is provide regular updates, which they do.

The share is undervalued, not sure one needs to look much further than that for an explanation.

Not sure any news is needed to explain today's movement so far:

Turkey appears to be advancing at speed;

A placing to fund the balance of Turkey is likely at some stage, but, to date, it has proven beyond the power of any poster to predict precisely when.

Gallifreyan,

Not sure they are in a position to reply to your question re Aleph Saltfleetby, they are not responsible for how Aleph chooses to organise its affairs.