Member Info for ocelot

Deadline for comments: 28/09

Lost track of volume on Nex, but that's about 750m shares traded on AIM alone during the last 2 days, so, in all, we must be comfortably above 20% of all issued shares (4.974m).

No, I don't think he did. He didn't mention Inglefield in Greenland either, as far as I am aware.

for Clogau of 12-36 months means there is light at the end of the tunnel, an end in sight.

GF was really upbeat yesterday, speaking of "lots and lots of targets" and a "high level of confidence".

One of the elements that distinguishes Clogau from Angus's other mining projects is that their slides include an "indicative timetable to production" with commencement of commercial production in 12-36 months.

risk/reward ratio, isn't it?

With a market cap of £8.5m, the downside risk is limited.

With the "vast" potential of Clogau and the Dolgellau gold belt, the potential reward is itself vast.

Further to our announcement on 22 July 2020, we are very pleased to report that the North Wales Minerals and Waste Planning Service, as the competent planning authority for the Clogau-St David's Gold Mine (the "Mine"), has confirmed that Alba's planned underground bulk sampling and drilling programme may proceed by way of permitted development.

The Company is in the process of mobilising contractors to site for a start date on or around 1 September 2020. (RNS of 14/08)

UKOG doesn't own a gold mine.

What helps, too, is that, as GF said last night, the local support is there, it's not like UKOG trying to advance its projects in Surrey.

Yes, so what does working a mine with hopefully lots of that gold do to the premium for rarity and scarcity? A little more joined up thinking might be needed.
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As the 90%-owners of Clogau, they would be very well-placed to judge how much gold to supply to the market.

CofE,

Their focus is on Clogau and the Dolgellau gold belt.

They've been genuinely excited by this project for quite some time, speaking of its "vast" potential, when they are usually quite circumspect in their choice of words.

It looks as if the market is beginning to take them seriously. If they've got it right, then the share price has a l o n g way to go.

Provided the share price remains above 0.13p, then there's £450k of cash to be injected via the warrants, which should help to accelerate their plans:

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 346,153,846 warrants.

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 3/08).

Reluctant to make price predictions on the upside, because I never predicted it would fall as low as it did!

In the short term, I would like to see it double from here, that would, in my eyes, at least correct its exaggerated fall.

Different maturities.

Alba is widening its investment audience, I think I heard towards the beginning of the webinar that about 150 (?) had registered.

The gold price and the example of GGP have helped, but it is Welsh gold that commands a very significant premium to the international gold price and it is Alba who own 90% of Clogau and of the Dolgellau gold belt, quite apart from their interests in a number of other potentially valuable assets.

Riverfort loan outstanding reduced to £116,668 - just 2 more monthly payments to clear it.

Think that's the first time I've heard GF speak about Melville Bay iron ore, certainly sounds as if they believe it may reward more resources being devoted to it.

The discussions re Clogau are on the jewellery side.

George Frangeskides of Alba spoke during a webinar which finished about 20 minutes ago.

Re HH: the sale of their stake is a possibility, but only at the right price.

Otherwise, they will remain invested because, in his words, there is "definitely still huge potential there".

Neither Saltfleetby nor Balcombe have begun to be reflected in the share price, but work on the Saltfleetby pipeline is scheduled to start on 07/09, one week after Bank holiday Monday.

Markets anticipate, they won't wait until Xmas to respond to developments at Saltfleetby (and, hopefully, Balcombe).