Member Info for ocelot

and the £47,694 was for the 9 months to 30/09/18.

The £2,410,945 is in HHDL's accounts to 30/09/19, on p 21.

Note 8. Income of £2,410,945 was offset against the cost of exploration and evaluation assets.

Depends on your time-scale: over a few days, yes, the price has declined.

From Alba's home page:

https://www.albamineralresources.com/ul/20200524%20Telegraph%20Clogau.pdf

Yes, it does.

It's the Daily Telegraph's £750m, based on the international price, lifted by 100% for the Welsh premium (although some think 100% is conservative).

The pull-back of the last couple of days is just market dynamics at work: big percentage gain, so profit-taking ensues.

The big percentage gain is, in my eyes, visually distorted, because I never thought Alba's share price would fall much below 0.30p.

At the present price, maybe not even 1% of the Daily Telegraph's potential 500k ounces (valued with a 100% premium for Welsh gold - £1.5bn) is in the share price and that 500k ounces comes from a report of 2012, before Alba undertook any of its exploratory work and came to the conclusion that the regional gold potential is "huge".

Think the upside potential for the share price is very substantial.

Kabaa,

You've not taken note of the 2 RNSs re the exercise of a total of £300k of the original £450k of these warrants.

because of the "huge regional gold potential" which is "massively under-explored".

PPS: one more comment:

There was more than £1m of warrants issued with an exercise price in the range of 0.30p to 0.32p, so I was surprised yesterday's initial exercise only concerned £40k.

It does suggest that most warrant holders are happy to remain invested in Alba for the present.

PS: that £40k of yesterday brings to £2.09m the amount Alba has raised through its 2 placings since 03/08 and the exercise of warrants.

No effect, small amount.

In addition, to drive forward its plans, Alba needs cash, so cash injections should be interpreted as positive, imho.

£150k remain to be exercised:

The warrants will have an exercise price of 0.13p 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 0.26p 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. (RNS of 03/08)

25m x 2 sells at 0.16p absorbed.

Early days, very full work programme lined up for the coming weeks and months, "huge" gold potential suggests huge upside potential.

It's not within Alba's power to give a set date for the release of assay results, the company involved is a 3rd party which will have its own procedures and work-load.

The share price fluctuations don't change the "huge" gold potential of the Dolgellau gold belt or the fact that it is "massively under-explored".

After the pause in activity imposed by the lockdown, Alba is wasting no time at all in pressing ahead with its exploration of Clogau and of the region.

The losses have to be used in the subsidiary (not the group) in which they are located, so, to obtain value from them, profits have to be routed through the same subsidiary (but it doesn't have to remain a subsidiary of UKOG!).

Accumulated losses at 30/09/19: £59.153m

If accumulated losses for accounting purposes = tax losses, then tax losses at 30/09/19 worth:

40% of £59.153m = £23.66m

The expected timetable contained in the update RNS:

1st half of October: u/g drilling to resume for 2-3 weeks;
by November: surface trenching to commence;
1st half November: surface diamond drilling to commence;
sometime in Q4: pilot gold processing plant to be fully operational.