Member Info for ocelot

Happy to take your word for it, mattcarter.

So do they have anything with which to update the market this year?

Not long to find out.

On the other hand, in 2018, there was no 7am RNS on the day of the AGM.

was held on 11/04/19.

At 7am that day, there was an oil production test update RNS, so there is a precedent for an RNS tomorrow morning.

Futures in New York rose as much as 1.7% on Monday, after earlier falling as much as 5.2%. Iraq cut term oil sales to multiple Asian and European refiners, according to people familiar with the matter, signaling that the nation is making good on its OPEC+ pledge to trim a global supply glut. At the same time, United Arab Emirates Energy Minister Suhail Al Mazrouei said demand is growing in China, India and Europe. Equity markets also pared losses... (from Bloomberg)

Imagine they know something we don't.

re Clogau:

the Daily Telegraph article of 24/05 spoke of "as many as 500k ounces of gold in the area", which it valued on the basis of the international gold price to indicate a value of £750m:
https://www.telegraph.co.uk/news/2020/05/24/gold-mining-company-lodge-planning-application-dig-snowdonia/

First Equity have assumed a figure of "around 125,500 ounces" which they have valued at 1% of the international gold price + a 100% uplift for the value of Welsh gold, to arrive at £3.1m.

The very wide extent of this valuation range reflects the current uncertainty concerning the size of the deposit, but does suggest the vast potential of the licence area.

Re Clogau:

Our valuation is based upon the assumption that only 40% of the gold on Alba’s
licence has been mined to date, hence the exploration upside could be around
127,500 ounces of gold, if not more. Each ounce of exploration upside is valued at
an initial modest value of 1% to the current gold spot price of around $1690 per
ounce (Fig 10), along with a 100% premium for ‘Welsh’ branded gold, which gives a
valuation for Alba’s 90% stake of $3.9m (£3.1m). This base case value for Clogau
could be upgraded once we understand more about the licence area.

The upside potential is obvious and very substantial:

Each ounce of exploration upside is valued at
an initial modest value of 1% to the current gold spot price of around $1690 per
ounce (Fig 10)

http://www.angusenergy.co.uk/media/investor-questions/

The cash is in the bank, it is there in the balance sheet.

Angus is a business with projects to finance, so, of course, they will be employing their cash in their business!

Will sign off for now.

the Board and its audit committee are members of staff, as far as I am concerned, they are employees of the company.

I've not been following the story at all closely, so, along with everyone else, will await further developments.

The opportunity resides in the fact that the present share price is approx 80%-covered by cash so that the market is currently attaching virtually no value to the prospects of the company's business.

By "absolutely everybody" I meant the market, the company's banks, the company's auditors and almost all of the company's staff.

What are you disagreeing with, that it is an opportunity?

If that is that case, then why are you invested in the share?

That is the opportunity, MichaelGoodwill, the fact that the share price has gone from 6p at IPO to less than 1p today.

In fairness to Patrick Clanwilliam, absolutely everybody missed the hole in the balance sheet, it looks as if some key characters in the company were being less than transparent with everybody.

It is precisely your focus on Holmwood that I was alluding to.

But it is your point of view (lack of confidence in management) which determines your selection of texts and your interpretation of them.

As a business, Angus need to meet their financial commitments as and when they fall due, they do not need to set aside funds today for all the commitments they may have to meet at some stage in the future.

Ocelot - Your comment "Alan2017 doesn't and his negative posts flow from his point of view." is wrong.
-------------------------------------
My full comment was as follows:

"MichaelGoodwill,

Do you or don't you have confidence in management?

Alan2017 doesn't and his negative posts flow from his point of view".

Are you saying you DO have confidence in management?

Coronavirus restrictions are easing, prospects of increased activity at HH.

Application in for trenching at Clogau, so prospects of activity there, too, in the near-ish future.

Cancel that. It IS a question re resolution 1, receiving and considering the accounts.

https://www.ukogplc.com/ul/UKOG%20-%20Notice%20of%20AGM%202020.pdf

That is not an AGM specific question (ie, specific to the business of the AGM).