Member Info for ocelot

The daily average for the 14 days posted is 0.1334

2/3rds of a page article on page 35 of yesterday's Times.

For historians more than market operators or mining companies.

Goes back to Erik the Red who was obliged to leave Iceland in the early 980s.

Goes on to say how some Americans have sought to believe in a Viking inheritance, in part to justify the seizure of land from the American Indian peoples. They wanted to prove that "America had always been a white, northern European, Protestant sort of place" (!).

Https://www.yahoo.com/news/articles/miliband-delays-hydrogen-plant-decision-163035057.html

The US can act with speed:

"The deal connects the massive rare earth project with Ucore’s Department of Defense (DoD) funded processing facility in Louisiana—a key step toward reducing US reliance on foreign sources for heavy rare earths".

Latest time and date for receipt of forms of proxy

10 a.m. on 29 August 2025

Elir,

In SB's most recent interview, of 2 weeks ago, he spoke of planning to set up the pilot plant in Denmark soon (from about 06:46):

https://www.youtube.com/watch?v=SBoNwxEMLVg

Https://www.bbc.co.uk/news/articles/c0j9l08902eo

But Motzfeldt is long term and GROC is medium term, Alba needs Clogau for its short term potential.

Sorry to see Mark Austin stepping back, has always come across as knowledgeable and experienced.

We would not be talking about an RTO if outside interest had not been excited.

Kemexon is the largest current shareholder with 19.67% so the potential buyer would become the largest shareholder with 30% or more.

The RNS concerning the RTO and suspension came after the news of the postponement of the first scheduled capital repayment to Trafigura so it looks as if the impact of this news may have brought Angus's share price down to a level to excite &/or confirm outside interest.

"Shae deals are suspenede but only on AIM".

ANGS is an AIM-listed stock.

An unidentified potential buyer, the owner of producing assets in the Gulf of Mexico/America, is seeking to acquire 30% or more of Angus.

Following the signature of a non-binding agreement, discussions have been pursued for more than 3 months.

On the basis of what share price might a deal be concluded?

We don't know. The only thing that is certain is that it won't be the share price at the time of suspension.

?

The shares are suspended for everybody.

To put 30% or more into perspective:

significant shareholders hold 48.67% of the stock, making the float 51.33%

30% is, therefore, 58.4% of the float. Acquire this in the market and the impact on the share price would be very substantial indeed.

The RTO means there is a potential buyer of 30% or more of Angus (30% or more being the definition of a takeover).

We all know what would happen to the share price if a buyer was to step into the market to acquire such a stake.

We do not know the means available to the potential buyer.

There seems to be general agreement that Saltfleetby contains substantial gas reserves. If a 4th well was to be drilled, the return on investment might be attractive.

Https://www.scmp.com/economy/china-economy/article/3322918/china-tightens-rare-earth-rules-extending-controls-imported-minerals

The intentions of the owners of the group of producing assets are important: if they are injecting their assets into a stock market vehicle with a view to retaining a major interest in those assets and growing the share price, then they should be open to discussion of their buy-in price.

Re existing shareholders: companies are rarely taken over at their historic low share price, there is usually a premium to pay for control, whether full or partial.

We don't know the identity of the owners of the group of producing assets or how long they have owned them: have they been in their hands for quite some time or is this a portfolio which has been put together quite recently?

What we do know is that the owners' primary concern is not to raise cash otherwise they would not have chosen this route of an RTO but would have sought a cash buyer.

The route of the RTO suggests there are plans for the further development of Angus after the RTO has taken effect.

A reverse takeover is still a takeover, that is, the private owners of the group of producing assets are acquiring 30% or more of a publicly quoted, AIM-listed company

Valuation of the group of producing assets? Cash element for the sale of those assets? Lock-in of the new shareholders? A range of questions requiring agreed answers.