Member Info for ocelot

a long way from the large flow rates predicted I'm afraid
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Nobody can disagree with that observation, but it is in the share price.

Think it is interesting that for Alba, with its 11.765% of HH, all 3 options for the future use of HH-2z remain open at the present time.

Also await results of ProGraphite GmbH's ("ProGraphite") testwork on the high-grade Amitsoq graphite project (RNS of 19/02/20)

Market cap doesn't reflect the potential of the assets and the funding requirement is, in relative terms, re Clogau, modest: GF put it in the low £millions, because the mine is already there.

No timeline, in the hands of the local authority.

These timings represent best estimates.

Deliverable Status Start Date End Date
Land/Leasing/Wayleaves Near Completion 01/05/2020 31/08/2020
Tendering and Procurement Near Completion 04/05/2020 31/08/2020
Pre Construction In progress 30/06/2020 04/09/2020
Satisfaction of Planning In progress 10/08/2020 07/09/2020
Conditions
Construction: HD Drilling Imminent 07/09/2020 19/10/2020
and Trenching

Not sure you're right re Clogau, list2309.

When GF speaks of JVs in relation to Clogau, he is referring to discussions on the jewellery side of things, that is, the marketing of the gold, he isn't referring to the exploitation of the mine.

They are genuinely excited by Clogau's prospects, hence talks re JVs on some of their other, Greenland assets, to raise necessary cash without having to call on shareholders on a regular basis.

They said the audio recording would be available on the website soon, but it will require some work, because the sound quality was poor during the first part.

43.6m in the 1st hour, on the Friday before a long weekend.

The 3 options remain open at present, according to Alba's RNS of this morning.

They await likely timelines, with the rest of us.

We expect to be able to mobilise the drilling and bulk sampling teams to site shortly, for an early September start date.

The last placement included a potential 2nd cash injection, of a total of £450k through the warrants exercisable at 0.13p.

The next phase of work at Clogau is genuinely exciting and represents the first concerted underground exploration campaign at the Mine for several decades. Through this work, we hope to be able to identify new, and as yet unexploited, gold zones within or adjacent to the existing mine workings which will support a decision to re-open the Mine for commercial production.

After the reporting period, the operator of the Horse Hill Oil Field (the "Operator") announced that it was reviewing the options for the future use of the Horse Hill-2z Well ("HH-2z"), including stimulation to return it to long-term oil production, side-tracking the well to a different subsurface location or converting it into a water re-injection well to reduce future operating costs. At the same time, the Operator confirmed its intention to reperforate the Horse Hill-1 Well ("HH-1") with a view to improving the rate of production. At the time of writing, we await confirmation of the likely timelines for these well interventions ...

... assuming the plans to improve productivity at the two existing Horse Hill oil wells bear fruit, our investment in that asset will also begin to take on a much healthier hue, notwithstanding the recent downturn in the oil price.

7/08: permission for Saltfleetby pipeline
11/08: Saltfleetby pipeline timetable
12/08: off-take agreement for Saltfleetby's entire production with Shell
13/08: notice posted re the Balcombe ewt application
18/08: reduced Saltfleetby decommissioning liability
20/08: confirmation of the submission of the Balcombe ewt application
27/08: variation of EA application for Brockham

Nothing to do with today's Brockham RNS, but I don't think the market has accorded sufficient weight to the offtake agreement with Shell:

the Saltfleetby CPR has been supported and validated by Shell, that gives the CPR very considerable credibility.

... The terms of the agreement are in line with the assumptions used in our CPR and we are pleased to have such a robust partner for gas sales.

George Lucan, Managing Director: 'We are pleased to have signed this agreement with Shell Energy which will cover all of the gas produced from Saltfleetby'. (RNS of 12/08)

In Angus's case, therefore, it is Shell which has signed the "documentary evidence which supports and validates the financial models and projections" of the Saltfleetby CPR.

Because the project is not yet built or operating, there is no existing cash flow to pay debt service, there are only financial models which are far less certain. Offtake Agreements provide project lenders with documentary evidence which supports and validates the financial models and projections upon which the ability to repay is based. Quite simply, Offtake Agreements make many projects bankable. (extract from globaltradefunding.com)

£2.5m received by Angus up front, being employed in the Salfleetby project by Angus.

Work is underway to complete these projects with the aim to bring the field onstream in early 2021:

http://www.angusenergy.co.uk/what-we-do/saltfleetby-gas-field/