Member Info for ocelot

They are subsidiaries, so consolidated in the group accounts.

George Lucan's answer of 30/12/20 to an Investor Question asked on 16/12/20
:
No recommendation received to date and nor will we bind ourselves to any course of action ahead of carefully reading and considering the final recommendation. The Company remains in close communication with the Planning Department and is assisting them in answering their queries. In view of the current Covid environment, we have not sought to press upon the 14 week statutory timeframe, and are more concerned to satisfy the Officers that our application does merit a favourable recommendation under both national and local policy frameworks and rules, as we believe it does.

The total silence on the Kimm really suggests its a dead duck here - and who would drill elsewhere for it after this experience & Broadford Bridge?
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The answer to that question depends upon Angus and WSCC and re Balcombe.

What percentage of the potential value of Clogau/Dolgellau should be reflected in Alba's share price at the present time, at this pre-commercial production stage?
June's Daily Telegraph article wrote of 500k ounces, which was as high as they could go at the time, being the high end of the most recent, 2012 report.
But this report was before Alba's involvement and before it undertook any of its exploratory work.
A more realistic estimate might be 1m ounces, but, for the moment, it is pure speculation.
1m ounces with a 100% premium for Welsh gold gives a value of about £3bn.
About 1% of that figure is in the current share price.
But should it be 1% or, say, 5%?

Noted from GF's podcast on 20/11/20 that he spoke of the "massive prospectivity" of the Dolgellau gold belt.

Think the market has yet to get to grips with Alba's potential in Clogau/Dolgellau, quite apart from its projects in Greenland.

12:30.

Fair enough.

For myself, I discount less for the uncertainty, so feel more comfortable with 1.91p (+10% = 2.10p in a year's time) than 0.70p.

1.91p now!

Thank you for posting your valuation, elir71, which is pretty brave of you. In my case, I have little more than a guesstimate of a figure in my head.

If you believe the share will be worth 2.10p in a year's time, why is it only worth 0.70p now?

Take the 2.10p estimate, discount it at 10% pa and that gives 1.89p now.

WSCC's planning officer's deadline was 25/11/20 re Angus's application for an ewt. This is how George Lucan answered an Investor Question on their website this morning:

No recommendation received to date and nor will we bind ourselves to any course of action ahead of carefully reading and considering the final recommendation. The Company remains in close communication with the Planning Department and is assisting them in answering their queries. In view of the current Covid environment, we have not sought to press upon the 14 week statutory timeframe, and are more concerned to satisfy the Officers that our application does merit a favourable recommendation under both national and local policy frameworks and rules, as we believe it does.

At 0.925p, market cap is £7.1m v 51%-share of debt facility of £6.12m.

Think the re-rate should kick in earlier than that, they are aiming to complete loan documentation "before the end of January".

Could you provide an update on the current milestone dates that you are working to? Asked on 16 December 2020
Our milestones for H1 2021 are as below. In all of these goals we are dependent on third parties – regulatory agencies, suppliers and debt financiers and, even in this environment, we regard these goals as realistic.

1.To close Saltfleetby loan documentation before the end of January and begin drawdown very shortly thereafter.

2. To follow with the second stages of procurement for all of the kit during February with a view to having installation during Q2.

3. To begin commissioning Satlfleetby and work toward first gas around the end of Q2

4. To present to shareholders a commercially viable ESG project during Q1.

5. To obtain planning permission from West Sussex County Council, albeit with conditions, in the month of February to proceed with the welltest at Balcombe in H1.

6. To obtain Environment Agency approval for water injection at Brockham during Q2.

https://www.angusenergy.co.uk/media/investor-questions/

PIs always want results yesterday, so it's always been a question of guess-work.

For myself, during December or in early January appeared a reasonable expectation, so, in that context, the results are not yet delayed.

From about 14:20: Mark Austin:

don't think it'll be a big mine ... but it'll be a high grade mine.

There is an exercise price at 0.55p (from memory).

If the average weighted share price is 1.10p over 10 trading days, then Alba can (but are not obliged to) force the warrant holders to exercise their warrants at 0.55p.

The rise in the share price itself facilitates the debt funding, increasing the value of the equity supporting the debt.

At 0.85p a share, market cap is £6.5m and slightly exceeds ANGS's share of the debt: (51% of £12m =) £6.12m

From Malcy's interview with GL, re debt funding:

from 02:58: "believe we're finally there" and "we will have the funding that we want".

Threshold crossed today.