Member Info for ocelot

Alba's Executive Chairman, George Frangeskides, commented:

"The completion of this extensive exploration programme over the Dolgellau Gold Belt has confirmed what should already have been apparent from previous announcements: Alba's licence area has serious potential to host one or more new gold deposits that could rival the historic Clogau-St David's Mine in importance. The fact that the Cerys-Gwyneth anomaly trend is four times the size of the anomaly over the Clogau Mine should need no further explanation."

"The interests in the PEDL 137 JOA are split 65% to HHDL and 35% to Magellan".

Seems to relate to the JOA between HHDL and Magellan, not to the parties within HHDL.

RA,

It does not prove the JTP "illegally shorted" Angus, it does confirm that JTP sold Angus via the "dodgy" outfit.
If he had shorted stock, he would have bought the shorted stock back and ended up with the same number of shares with which he began, but his holding in Angus was significantly reduced.

"... serious potential to host one or more new gold deposits that could rival the historic Clogau-St David's Mine in importance".

Serious potential, therefore, for Alba to become a major multi-bagger.

Alba's Executive Chairman, George Frangeskides, commented:

"The completion of this extensive exploration programme over the Dolgellau Gold Belt has confirmed what should already have been apparent from previous announcements: Alba's licence area has serious potential to host one or more new gold deposits that could rival the historic Clogau-St David's Mine in importance. The fact that the Cerys-Gwyneth anomaly trend is four times the size of the anomaly over the Clogau Mine should need no further explanation."

Note the change of tone: frequently in the past, Alba have expressed themselves in relatively downbeat, technical language in their RNSs.

This, on the other hand, is decidedly upbeat: "serious potential to host one or more new gold deposits that could rival the historic Clogau-St David's Mine in importance".

"While that ongoing exploration success alone represents a huge and unique opportunity for Alba, the key focus for the Company in the coming 12 months will be in pushing forward with the work to re-open one or more of the historic mines for commercial production, as that represents a clear cash-flow generative opportunity for the Company. With that in mind, the completion of the first phase of mine safety works represents an important milestone."

Like, too, the emphasis on the "cash-flow generative opportunity".

... “The fact that net cash could exceed the current market cap within five years is unsustainable and will put upward pressure on the shares,” BMO Capital Markets analyst David Round said in a note.

“Add to that the potential from Sarta and we would argue that Genel’s investment case hasn’t looked this appealing for a number of years,” Round said.

According to records, Clogau-St David's produced 81koz of gold ...

81,000 ounces of gold, with the price of an ounce currently at $1,476.60.

And the strike length of their new anomaly is about 4x that of the historic mine.

At 0.18p, the market cap is currently £6.3m.

If this comes good, the share price has a long way to go.

The largest new anomaly now identified has a strike extent of approximately two kilometres, being four times larger than the anomaly associated with the main Clogau-St David's Mine which has produced the largest quantity of gold from any region in the United Kingdom. According to records, Clogau-St David's produced 81koz of gold with an estimated head grade of 24 g/t Au.

This continues to look very promising.
At some stage the market will begin to reflect the potential.

hydrogen,

Because of the speed of the return on invested capital, (I forget Bill Higgs's expression, the velocity of capitaI (?), I think Genel merits a premium rating, so would put it at the top end of your P/E range, on 8x.

Unfortunately, the market does not appear to agree with me :-(

More detail on Bina Bawi than we've seen before:

... Discussions are ongoing, with regular meetings taking place between the KRG
and Genel. Genel has recently made a formal proposal consistent with
previously negotiated terms, balancing initial returns from the development
of oil with the medium-term requirement for funding the midstream
development.

Genel is seeking approval for this proposal and the Bina Bawi field
development plan in order to commence with the oil development and
commission a FEED study for the award of an Engineering, Procurement,
Construction, Installation & Commissioning ('EPCIC') contract relating to
the midstream development. The latter would take around 12 months, and be
funded via the Bina Bawi oil development.

Terribly cheap, but we all know that:

Basic EPS in the half year is 27.2c.
@1.215 = 22.4p.
If we conservatively multiply by 2 for the full year, gives 44.8p.
At 178.00p, puts Genel on a P/E of 4.0x.

With our portfolio having the potential to double production in coming years, and an M&A strategy focused on boosting near-term cash generation, we see the baseline annual distribution of $40 million as having the potential to grow on an annual basis.

Good to see Bill Higgs's "doubling" of Genel's size is still there after his interview of earlier this year.

Seadoc,

For myself the only loans that matter, as far as UKOG is concerned, are those that are not netted-off on consolidation, ie at the present time, the loans made by Alba and Doriemus.

Think that's enough of novated loans for me today: I wish you well.

Hadn't seen the BBC's headline article before I wrote my post of 21:20:

"EU officials have said there is currently no basis for 'meaningful discussions' with the UK over Brexit".

Heavens above, we agree, seadoc! (unless I'm mistaken, of course).

Let's see how the Asian markets do overnight.

Or, as JL would say, in interesting times!

seadoc,

If HHDL does still owe the money to UKOG, then that will be netted-off on consolidation:
1/ in HHDL's books, money owed to UKOG;
2/ in UKOG's books, money owed by HHDL.

It's not dissimilar to BoJo's position on Brexit, that the UK will come out on 31/10, "do or die".

If the EU wants to play tough, all they have to do is wait and see.