Member Info for Rambo23

Curious, I agree this is an absolutely key milestone for them to finally tick off and only a month or so ago they said they were on track so if they now miss that I fear it will be an issue for all concerned. For too long now we have been awaiting a working prototype and fast forward several years and we are still waiting for it.

That said they still have a few days to confirm the state of play before their own deadline and if they can achieve this as per their plan then I would also hope to see some sort of forward commitment from a potential buyer relatively soon most likely the Chinese in my opinion but anyone will do at this stage.

I would also like to know what and if Thales are still part of the manufacturing plans, how the new manufacturing site in the UK fits into this plan and what the state of the finances are. Referencing the below from the AVO website and correct me if I'm wrong but haven't seen any comms about the fit out starting given they are still doing the building works so is it fair to say based on the below H1 2019 timeframe that has now slipped as well?

'Excavation works started in March 2017. The construction time - between 62 and 96 weeks - reflects the constraints associated with two listed buildings (141 and 143 Harley Street) in a residential area. Yet it compares favourably to building times associated with the construction of multi-room proton beam facilities using legacy technologies traditionally built in large and remote areas, which is in the range of three to four years on average. Taking into account an additional time of up to 52 weeks for full fit-out, including the installation of cooling systems and power supplies, the site is expected to be ready for installation by H1 2019'

Boomboom I hope you are right and don't disagree with your comment as the sooner they are gone the better for all LTHs. I was merely adding some perspective for the benefit of the board but it could take a while to sell 43mm without higher volume. Anyway lets hope a TR1 is close so we get clarity on this.

Russell, that is true and I guess only time will tell. I personally would be surprised if they gave an order to sell 43mm in one go not impossible but they chose not to do that previously. Additionally if I were bergen and were expecting some positive oil news (assuming they do) then I would wait to see news and sell the bulk then at a higher price. Personally I hope they have sold some but until I see a TR1 it is really speculation.

Question for you...when you say 'large amount' what sort of quantity are you putting to that given the sales you have been monitoring out of interest?

Russell70 just to add some perspective on this...in the last TR1 Bergen had 11.35% of the company left approx 43mm shares. We simply don't know A if they have sold anymore, B how many if they have sold any and what is left until we see the next TR1 so speculation in the mean time is unwise and leads to disappointment when there has been a lack of TR1s for a while now even though people get excited about large sells and saying it is Bergen on a near daily basis. It could be someone selling to put cash towards their new house for example.

Additionally any holder of 3% or more shares of an aim company is required to declare each time they cross through each % regardless if they are buying or selling. So unless we see a TR1 today for the last few days trading it is safe to assume as a result of no recent TR1's they still have not gone below their previously declared 11% holding. Also to sell 43mm shares you need volume to avoid crashing the price so it might take longer. Patience is key here, I'm long and holding tight.

Some decent sized purchases showing on Level 2 in the last 5 mins or so 300k, 500k, 307k shares. Keep them coming! Patience is key

Good to see. Hopefully some positive news out by the end of the month in-line with the recent guidance. Updated time lapse video of the building progress on the website in case anyone missed it the other day just FYI. Ian, I agree I think we need the technical progress update to be all positive and the sniff of an order would take us towards £1 in my opinion. Given the Chinese investment I would be surprised if we don’t see them first but who cares where it comes from. Been here a long time now but believe in the product capabilities.

This is far from ideal....Stage 2 funding completion punted into next year, most likely the begging bowl will be out soon and still short on the offtake agreements, port conveyer costs pushed back, Dates missed! I’m a LTH but what are people’s thoughts on waiting for clarity on any equity raise details before topping up again. Buying before then could be a 50/50. Disappointed today!

Dsfat - good work paints the current picture well. Appreciated

Topped up again today. Exciting few weeks ahead.

Moneymaker personally I think we are better off staying put and holding our HH stake certainly for the time being for a few reasons 1. No EWT results from the 3 levels confirmed so has possible significant upside so why consider selling now? 2. It could be argued UKOG has a large mkt cap at this stage vs Alba on a % share basis so if that valuation is imbalanced taking shares in the larger more expensive one won’t realise the full value for Alba shareholders at this point in time. 3. If Portland is declared commercial bank funding should become available at some point to avoid further dilution. 4. I was of the understanding the recent sales to UKOG could have been so they keep a seat at the table with UKOG shares but not have to contribute to future HH costs. Questions have to be asked of the financial positions of those companies but just my opinion. Exciting week ahead for all the Weald companies so good luck to them all. Onwards and up!

Dsfat - length * width * height is indeed the correct calc and the numbers are right. I did a similar calc and posted it a week back. Let’s see what numbers GF puts out in the future from this seasons fieldwork but I would like to see high grades, evidence there is plenty of it and room to add more over time. You are right even on a small calculation it can add up pretty fast. Chuck in some positive oil results and some illmenite. Big week ahead with Portland RNS hopefully. Well recalled on the first JAY initial resource number. I believe they will continue to turn that into a BIG number with interlek drilling happening now and fair play to them. As i’m Allergic to the sun I have personal demand for this as it’s used in suncream. Send me more hahaha

Daramuda - good evening What’s with the wake wakey? The last I recall RNS and the release of factual details allows everyone to consider previous comments/ statements and colour in aspects that were otherwise shades of grey regardless of some appearing as experts. Last time I looked you saw a picture and said permafrost for a trench the size of a large coffin. So let’s keep in perspective and remember a few things. 1. Alba is several years behind Jay and it’s early days for TBS, we don’t yet know enough about the license 2. We have no idea what proportion of the license area has been impacted and limited by permafrost. Is this a possible concern until clarified by the company yes I’m sure most would agree but hardly unusual given its northern Greenland. 3. Did Alba turn up with major kit for 30m drilling campaign etc this field season? 4. The mini digger used for the trench, if that was their primary tool for this seasons field work would this be suitable for deeper than 2m of drilling? I suspect not and therefore the question comes to mind was their intention this season to look beyond initial mapping/ sampling to say 2m depth etc before they get more info on the license? These details are unclear I believe. 5. Thanks for yet another patronising comment re Iron. 6. EIA we have discussed this before but you seem to respond to the point selectively. We both know the Alba/Jay area has various environmental concerns with land and sea habitats but you never acknowledged my previous points here for both companies and or they may be seasonal issues to consider. Let’s see how both companies navigate this aspect as its far from black and white. 7. As I have said before Alba have fingers in a few pies and that reduces the reliance on a single project/ license. I have been fortunate to nearly double my investment so far and we know TBS isn’t factored into the SP and IF Indeed it does prove to add some/ any value then great but GF has to go through the motions. 8. Remember hindsight is a wonderful thing when trying to justify a point of view. 9. As you are a Jay holder what are your thoughts on the recent SP decline? Let’s see how the Greenland story unfolds.

Dsfat, Thoughts on the TBS info? Clearly permafrost was a factor in some areas but it doesn’t say how much. I assume they didn’t have drilling kit to go below 2 metres with that small digger so maybe that was always going to be the max for this field season. Expectations from here?

Ian1234 - I topped up this am again and it’s nudged up a little. Should see some volume in the next few weeks.

Maltloaf - yeah, self generated issues in terms of making sure they are compliant to the feedback provided.

I'm sure they will have taken this on-board and the tweet a short while ago this am is the next best thing to a positive RNS so patience is key now. Bergen's actions are out of our hands so keep focused on the prize and not the locusts!

Ayoung555 - you said it, buy on the dips and be patient if you genuinely believe in the company and that is what I have been doing and will continue to do so.

Although I hold other weald players (Alba/ UKOG) Angus is the only one with production licenses and I don't believe that has been fully digested by some people.

Open question but what time frames do people expect any new production license application to take for any of the weald players? Given the swampy scum, the protests and earthquake neg PR recently it's hardly a given that process will be straight forward. I hope it is unproblematic however as I think all this meddling is a joke and lacks perspective in what is already a heavily regulated environment and a long drawn out process. Common sense should prevail.

Stay patient things are moving forward and after the positive SCC decision we need to be mindful of their feedback comments and Angus need to tick all the boxes to ensure there is no self generated issues moving forward.

IP / anyone - correct me if I'm wrong at any point here, but what has been communicated on this permit and put forward by the company to date? I couldn't find anything obvious in any RNS going back a few months and the SCC meeting has been suggested as the key blocker recently and now we find out there was another agency also required to approve another permit before the Balcombe test could progress and surprise surprise there are more hoops to jump through probably due to recent neg PR going around with the protests etc. Please see an extract from an RNS I have taken below, no mention of the EA permit here...

'Production from the Group’s conventional reservoirs at Brockham and Lidsey will be complemented by the upcoming 7- day well test of the Balcombe-2z well and, subject to SCC approval of the normalisation application (the application has been submitted and the company has been advised the council will review it on 08 August 2018), first commercial production from the Kimmeridge layers at Brockham (Brockham -X4Z).'

Surely this is basic stuff as is doing everything required for a permit prior to application to avoid these new pre-condition scenarios. All this does is potentially delay an already delayed process or have I missed something here? I can't believe the bureaucracy. Hopefully this is dealt with in days and not longer.

To be clear I have a long position, I bought more yesterday and will continue to do so on any drops but would prefer to see things going north for everyones sake and ****** to anyone shorting.

TR1 RNS out now for Bergen holding selling down below 14%, 13% and 12%......11.35% left to go or 43,339,115 shares to go if I have read this correctly but DYOR

Northman1 - I believe they are allowed up to 30,000 tonnes without the exploitation license. They have said in their recent comments on twitter they have completed the 10,000+ bulk sampling. My understanding is that multiple 5000 samples are going to various end users for furnace smelting based on previous RNS comments.

As for getting it off the beach they obviously have diggers and conveyers to aid this process. It is unclear what type and size vessel will be needed/ used to collect the material but they have used a landing craft from a ship that has a crane so if they were to use the same one that bought all the shipping containers, diggers and kit over that might be an option that said 10k tonnes is a lot so I'm not 100% sure what the minimum requirements are for a ship to take this bulk volume in this environment as well.

I have a concrete company a mile down the road and they bring up all their gravel and sand in barges up the Thames and I have always wondered what the volume of those barges holds vs the visual look of whats on the beach at JAY. I'm sure they will share any pics etc going forward. Worth following on twitter as well.

Alba Twitter Post just put up drawing attention to the importance of social media for investors to form views on a company.

Positive given many people asked Alba to work harder on the PR front. Can't do any harm seeing pics and comments to compliment any official RNS etc and be more transparent.