Member Info for ocelot

The warrants are exercisable at twice the issue price of the new shares, so they are designed to bring in more cash to the company as the share price rises.

From today's RNS, my capitals:

- Commencement of the formal impact assessments which WILL form part of the planning application for the reopening of the Mine for commercial production.

Words are important: "WILL" not "may".

7th biggest gainer, it's been a while since UKOG last featured in that list.

Didn't get to 1bn but volume of 881.1m is pretty impressive.

The last many months have been tough for investors in UKOG, but it looks as if things are now turning upwards.

It's always assumed placings are done at the initiative of the company, but, on occasions, it is the company which is responding to approaches it has received.

- Dewatering of the Llechfraith mine area to allow for underground exploration and development; (from today's RNS)

Appears to be rising up the priority list.

I like the way they offer 1 warrant for 2 new shares at double the issue price, it:
1/ reduces the amount of the immediate call;
2/ provides management with a clear incentive to get the share price up.

"This (trenching) work is particularly exciting as it involves the excavation and sampling of virgin areas of bedrock which have never previously been subjected to examination for their gold content." (from yesterday's RNS)

Subject to there being no unexpected delays in shipment of the plant that has been ordered from South Africa, the Company expects its pilot gold processing plant to be fully operational by December 2020. (from the RNS of 20/11)

BIG volume, 491.9m and it's 10:30.

re-run of the Loxley planning committee meeting

21/09: £1.3m raised at 0.275p via the issue of 472.7m+ shares

25/11: £1.2m raised at 0.375p via the issue of 320m shares

The share price has gone up but:

1/ Alba have chosen to raise a little less;

2/ the number of new shares issued has declined quite markedly.

Bit of a clean-up of some recent posts, so the above subject-title is just a reminder (WSCC/045/20)

They've raised £1.2m, so it's a relatively modest amount. Suggests they are keen not to weigh down the share price.

"We are very pleased to have received this ongoing support from investors at a price which is significantly above the last placing price. ...

Need a price of 1.50p now, for the accelerator clause re the warrants to kick in.

"In the near term, we expect to be in a position to release the structural interpretation of our underground drilling programme at Clogau-St David's this side of Christmas, together with preliminary structural interpretation from the current surface drilling programme which we also expect to have concluded before Christmas."

Share warrants will also be issued to each subscriber in the Placing, with one warrant to be issued for every two shares subscribed for, for a total of 160,000,000 warrants. The warrants will have an exercise price of 0.75 pence per share and an expiration date of 24 months from the date of issue. The warrants will also be subject to an accelerator provision, such that if at any time during the 24 month duration of the warrants the 10-day volume-weighted average price (VWAP) of Alba ordinary shares exceeds 1.5 pence per share, the Company may give warrant holders notice to exercise their warrants within 10 business days following the Company's notice and to pay the exercise price in full within 15 business days following the Company's notice, failing which the warrants will automatically expire.

Share Placing

Alba Mineral Resources plc (AIM: ALBA) is pleased to announce that it has raised GBP1,200,000 (before expenses) through the issue of 320,000,000 new ordinary shares at a price of 0.375 pence per ordinary share ...

"Coming to a hill near you soon"

.

2 x 0.8 = 1.6
7.5 x 0.18 = 1.35
Total: 9.5 = 2.95
2.95/9.5 = 0.31053