Member Info for ocelot

Seadoc,

FYI, I looked at Alba's recently published annual report for the year ending 30/11/18:

they treat their loan to HHDL as part of their investment in the company.

"The above investment represents an investment in 18.1% (2017: 18.1%) of the issued share capital of Horse Hill
Developments Limited (“HHDL”) and an associated loan to that company...

The directors’ current intention is to retain this investment for the foreseeable future...".

Seadoc,

The loans payable to non-controlling interests published in the annual accounts to 30/09/18 were outstanding at 30/09/18, of course.

Seadoc,

Non-controlling interests in HHDL are all other participants in HHDL apart from the controlling interest, UKOG.

Once a participant sells its interest in HHDL, it ceases to be a non-controlling interest because it no longer has any interest in HHDL at all.

Your "very subtle phrasing by Kiran" is simply the use of English with precision.

From note 18 on p61 of the accounts:

Loans payable to non-controlling interests are payable on demand with an interest rate of 10% above Bank of
England base Rate. The Group acquired these loans as part of the business combination acquisition of HHDL,
and represent loans made to HHDL by the other shareholders thereof.

That was at 30/09/18.

The non-controlling interests in HHDL today are Alba (18.1%) and Doriemus (4%).

Expectation management, not a question of turning on a tap, or of complaining about a duster if oil fails to flow significantly initially.

Re Clogau:

-- Average grades for two of the new anomalies are well above the average gold-in-soil grades for Clogau-St David's and the other historic mine areas.

-- Anomalies have been identified across multiple geological units and outside of the traditional Clogau Shale target.

-- Gold mineralisation has now been confirmed across 4 miles along the strike extent of the Dolgellau Gold Belt.

Drilling Commences at Alba's Limerick Base Metals Project in Ireland

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, is pleased to report that drilling has commenced on Alba's 100% owned Limerick Base Metals Project (under Prospecting Licence ("PL") 3824) in the Republic of Ireland...

The recent extensive pressure build-up also indicates HH-1 is likely connected to a larger oil volume than previously recognised. Further Portland test data will now be collected and analysed before the HH-2 drilling campaign to confirm this important development.

Mentions UKOG twice in relation to Brockham.

Says that the "tricky part" of the next phase is to "get proper communication with the reservoir".

Says they are looking very closely at the exactly similar works undertaken by UKOG at HH "for guidance, the best way of approaching" the problem.

https://www.youtube.com/watch?v=iINmGTaAg6A&feature=youtu.be

There's a pretty full programme planned over the next few months.

At some stage, don't know when, think a substantial re-rating will take place, perhaps, in a very brief space of time.

Note:

In answer to a question about HH, GF of Alba said:

"the potential reservoir is massive, that's what's exciting about the Kimmeridge, in particular".

:-)

Hawkey,

"Market cap 3ish x less net assets".

No, you've not allowed for 2018's results and the impairment of Miran.

At 31/12/18, net assets = $1,331.4m

@1.28 = £1,040.2m

Per share = 372.5p

So, at 213p, market cap is about 42.8% less than net assets and price:book is about 0.57.

I'm not sure Donald isn't almost a calming influence in comparison to Bolton!

PS: those near-term revenues could transform the market's perception of Alba

Speaks of gold first and overruns on the subject, he has so much to say:

"very good chance there are other Clogau gold mines" in the gold belt;

Re graphite:

"phenomenally high grade" of graphite, not aware of any project in the world with such a high grade;

in resume:

"we're looking at near-term revenues" and lists: oil; gold; and ilmenite.

Our Chairman is bowing out, considering the company to be in safe hands and well-placed.

ERBIL - ExxonMobil Corporation has decided to evacuate its engineers working in the West Qurna oil field in the Iraqi province of Basra, a report said on Wednesday.

The decision came amid the latest tensions in Iraq due to the escalating ties between the US and Iran, sources at the Basra Oil Company told al-Hurra, explaining that the first batch of employees will leave Basra on Wednesday evening to the UAE...

http://www.basnews.com/index.php/en/news/iraq/521115

he ends with a "politician's" answer to the last question:

whether they participate in the drilling of 2 projected wells will be decided at the time.

available in the margin to the left of the screen.

GF of Alba speaks from about 30:22 to about 1h:0230.

In answer to the very last question, he speaks of recoverability at HH and says they are encouraged by the absence of evidence of depletion.