Member Info for ocelot

No taxes to pay for a while, thanks to AEWB No.3 Limited's tax losses! £15.64m of them at 30/09/19.

so it was a position being rolled over.

Cancel that - I see there was a same sized trade at 0.16p 17 seconds earlier.

12.7m+ at 0.1612p.

Let's hope they don't require Premier League salaries!

Except that, at 0.475p, the market cap is only £27.1m.

From the RNS of 5/10:

The rehabilitation of this pipework will be invaluable in providing pressurised air throughout the Mine, to support not only the Company's underground drilling but also its future development of the Mine.

Note, therefore, the 2nd reason for the rehabilitation of the pipework, the "future development of the mine".

We would hope to have soft commitments or so-called strong indications for the larger part of the facility during October, however we can’t guarantee third party timetables. We would expect that the documentation should be significantly simpler and quicker to execute than a traditional Reserves Based Loan which tends to carry a lot of highly technical language suited to funding exploration opportunities, whiereas this is a single asset with a well understood existing production history and carries negligible exploration risk. (answer to Investor Question asked 30/09)

My perspective is that the share price should never really have fallen much below 0.30p.

Consequently, at 0.515p, the share has risen 71.7% and has only just started its rise!

The share is so depressed at the present time, it wouldn't take much positive news to turn it upwards (imho, of course).

Don't think UKOG is a potential buyer of Alba's stake at the present time, it has other ongoing claims on its cash resources/share issues.

above the 0.60s

At the time, Alba did very well, to arrange this facility just before lockdown and the markets went into a tailspin.

logical, confident of their liquidity position.

The cost of the processing equipment has gone up by £3.3m, hence the reduction in the mid-case forecast vis-a-vis the CPR.

Time is money, the debt facility figures include working capital funding in the "GBP1.6 million toward site preparation, planning and contingencies".

The recent placing was limited in size.

"Similarly the equity placement is there to a great degree as a cushion ordinarily expected by senior secured lenders over and above any contingency or planning and working capital allowance in the debt facility of £1.6 m" (answer to Investor Question asked 30/09).

They are shifting the source of funding for the company's operations from an exclusive reliance upon equity to a mix of equity and debt.

Rastuss has been on filter ever since his exchanges with MichaelG.

gkb47,

We have discussed this before, agreed. You have made your points, I have made mine, we do not come to the same conclusion.

That's fair enough, I'm sure different points of view are welcome on this board.

49% of £12m = £5.88m and is their partner, Saltfleetby Energy's liability, so, yes, of course I omitted it.

The reality is also that Poundland Gas timesclales and costs have doubled, now requiring them to have to take on a very large debt, well over the Market Cap, which will likely be at onerous rates even if they can secure it.
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Debt facility: 51% of £12m = £6.12m.
Market cap at 0.775p on 715.158m shares: £5.54m

Debt is, therefore, over the current market cap (by 10.5%) but not really "well over".

"Onerous rates": likely to be less than on hire purchase, leasing arrangements.

"Costs have doubled": CPR mid-case forecast reduced from £36.3m to £33m, a reduction of 9.1%.

The company hasn't said.