Member Info for ocelot

90%-owned, possibility of acquiring remaining 10%, if I remember right.

So that £750m is before taking into account any premium for Welsh gold.

In The Telegraph, too:

... It is believed there could be as many as 500,000 ounces of gold in the area, and with gold currently selling at just under £1,500-an-ounce, that would be worth £750 million .

Plans state that the "commercial potential" is "significant", adding that previous gold finds in the area yielded "very high grade pods" of gold...

https://www.telegraph.co.uk/news/2020/05/24/gold-mining-company-lodge-planning-application-dig-snowdonia/

Penguins,

You are entitled to your opinion, but it tax losses are a material hidden asset which will come onto the balance sheet when UKOG becomes profitable (which no longer appears to be far off).

The Group has incurred indefinitely available tax losses of £18,533,000 (2018: £14,796,000) to carry forward
against future taxable income of the subsidiaries in which the losses arose and they cannot be used to offset
taxable profits elsewhere in the Group. (from page 53 of the 30/09/19 annual report)

Applying the corporation tax rate of 19% gives £3.52m, 72% of the current market cap.

Nobody does we are currently in a severe recession, Rastuss, but that was not the point made by Alan2017.

He stated that "The UK is now officially in a depression ...".

It won't officially be in a recession (let alone a depression) until the figures for Q2 are published.

If we say accumulated losses at 30/09/19 = tax losses, then this is an important hidden asset:

£59.153m at 19% = £11.2m, more than half of the company's current market cap.

The average of MIrasol's oil production estimates suggests UKOG is approaching profitable trading in the fairly near future.

When UKOG does achieve profitability, then there is a hidden asset than can be brought onto the balance sheet, tax loss carry forwards.

The UK is now officially in a depression (double recession) of the likes that hasn’t been seen before.
---------------------------------------------------
Do you have a source for that piece of information, Alan2017?

bottom right-hand corner of p12:

Welsh gold rush

A company has lodged a planning application to dig for gold in Snowdonia after getting wind of £750 million in hidden nuggets. Gold Mines of Wales wants to dig 8 trenches up to 90m (295ft) long and nearly 2m deep near the Clogau gold mine, which closed in 1998. Gold from the area has been used in royal wedding rings since Queen Victoria's reign.

The quickest way to counter the trolls is to get the share price up - trolls seem to prefer posting against the backdrop of a declining share price.

Thank gkb47, Mirasol, he posted the link first.

It looks as if all the waiting has weighed down on expectations.

That's not a bad thing, creates room for a pleasant surprise.

And here is the futures curve, through to November 2026:

https://www.erce.energy/graph/uk-natural-gas-futures-curve

Just saying what I think, HeadinTheSand.

In truth, have thought it a possibility for a good, long time, but the share performance has dissuaded me from expressing it until now!

And have a good long weekend yourself, Welsh!

10m at 0.20p.

Perfectly legitimate to quote the mid-price as the closing price, that's what the London Stock Exchange does.

Why cite the last reported trade price as the closing price? That last reported trade could have been executed at any time during the session.

Would prefer them to re-invest in the growth of the business, nomlungu.

Looks as if ANGS has rejoined the category of investable stocks.

Assuming Saltfleetby comes good, cash generation and borrowing should mean they can finance a strategy of external growth.

Over time, a return to a share price in double digits is possible, imho.