George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Bubblepoint,
Sorry but your figures do not look right.
I calculate losses of £59.148m from 01/10/13 to 31/03/23 on the basis of the published accounts (see my post of 13:10).
Where do you find an additional £50m+ of losses, about 11 months later, at the end of 02/24?
Bubblepoint,
Of course the losses are important, but they are disclosed in the published accounts.
My question is where do you get your figure of £110m from? Indeed, in your post of 21:40 of yesterday, this had become "OVER £110 MILLION" in capital letters "squandered".
Is this poetic license on your part?
Bubblepoint,
You continue to write of £110m, but the accumulated loss at 31/03/23 (the last available accounts) was £91.039m of which £31.621m was already on the books at 30/09/13, at the approximate time when Sarantel became UKOG.
At 31/03/23, UKOG's book net assets amounted to £34.678m.
On the basis of today's 32.54bn shares, the book net assets at 31/03/23 represent about 0.0107p per share, that is, about 14.3 times the current share price of 0.0075p.
AimDogs,
The only director on a significant salary is SS.
It would certainly be a gesture appreciated by PIs if SS was to reduce his salary or, at least, reduce the fixed element and build in a variable element related to the share price performance.
Yesterday, $2,050 was being described as a resistance level: we're through it this morning:
https://www.kitco.com/price/precious-metals/gold
To round off my post of 10:12:
in the long term, believe Portland is looking very promising: "The Company is also in discussion with several significant potential international investors with regard to their participation in the Company's hydrogen storage project" (the capital reorganisation RNS of 01/02)
Of their 4 principal projects, it is Loxley where I believe they need to find a partner for a significant percentage without further ado.
"An Informed Investor will look at the KII ...". I haven't understood.
In the very short term, think the share has been caught up in a downward spiral and has overshot.
In the short/medium term, believe management need to focus on cash generation (HH, Turkey) but an appropriate strategy requires the Supreme court to deliver its judgement.
1:10 (in answer to Ongold's post of 07:34).
The GM resolutions will enable UKOG to raise more funds from the market but, fundamentally, change very little.
For a company reliant upon the market for funds, what matters is its market cap and, in theory, by itself, the GM will make no difference to the market cap.
Imho, it needs the Supreme court to deliver its judgement in the Finch v Surrey CC case. Only then will management be in possession of the necessary information to finalise a strategy.