Member Info for welloilbeefooked

Leon said the “up to $90m” represents 10 - 15 times SA earnings. That was the flag for me to sell.

Fact is we have a market cap of £113m and that’s very much based on what we’ve done in SA. If we’re only earning £6-9m per annum there then we’re way overvalued currently imo. We’re now all in on Zambia and yet to show a sov of earnings at the bottom line. We’re meant to be recovering copper from waste no-one else could econimically process, now we’re buying high percentage copper material to process. Enough for me to be gone in the morning with a big overall loss.

GLA

And the circular will be released “in the coming weeks” according to Leon in the interview, what is the likely effect on the sp while we wait for this? It’s completelyinfuriating and actually disrespectful to smaller shareholders. Do you believe Slater et al are unaware of the details? I think not.

Shuvlin, the point of releasing the key elements of the proposed deal would be to eliminate the unknowns which are currently driving the sp lower, “up to $90m” - could they have made that any woolier? What’s included and excluded in the sale? An extra few lines of detail would have put a lot of questions to bed.

The fact is, Leon and the board are recommending this to shareholders so they are already in possession of all the finer details of the deal. They should have released the details in the RNS. Themore I think about this, the more I think we’re being h

Had. Something’s off here imo.

In that interview Leon states that the SA business needs substantial capital spend on mining operations to maintain growth but if we’ve got 7 or 8 years pgm material stockpiled awaiting processing as some here seem to think, there’s absolutely no need for capital spend on mining? Something’s off with this deal imo.

Also,he mentions the circular will be issued “in the coming weeks” - what’s that going to do to the sp in the interim? How hard would it be to tell us whether the pgm wastepile is included in the sale or not?

They need toget a grip on this, not for the first time the level of shareholder comms is diabolical.

I’m not impressed with that interview, particularly flanneling around the divi question and also if $90m is a significant multiple of current earnings then that doesn’t bode well for H2 results imo. Still holding but have my doubts.

GLA

Well someone with more real information than anyone here is taking 75 million shares at 4.15p - what do they know that gives them that confidence, especially given the history here?

Strikes me this is a real signal that copper production in Zambia is ready to fly. Cutting the strings to SA is a massive vote in favour of the Zambia business despite the problems so far. Wouldn’t be surprised if more news drops sooner rather than later.

That people who never normally post on this share are suddenly around with their pearls of wisdom….

Presumably Slater and other large holders mustthink this is the correct strategy

And according to chatgpt between 90-95% helium discoveries are associated with natural gas discoveries…

I hope I’m wrong SB but have to say my trust in AP and the board is withering daily.

Looks to me like the first steps towards being sold to go private at a low ball price. It happens you know, check out the HUM history.

GLA

Interesting interpretation Gudin. Personally I would have thought a professional outfit like Oak would have released any new note with the new target updated or at least mention that they were going to release an updated target price later?

Hey Gudin, for a bit of balance would you accept that Oak’s target price of 148p despite the “no discovery” comment represents a reasonable upside from here?

Why would someone not just come in and buy UOG for peanuts? Asking for a friend.

Got to be having a laugh, SP was down 15% on around £50k of trades😡

Leon’s not even polishing this with a forecast for April-June copper, that tells me all I need for how this FY is going to end. I’ve sold out completely this morning with a 10% loss, got a feeling they’re going to go to the market again sooner rather than later. The IRH situation is a dog’s dinner and strikes me Leon is not going to be negotiating from a position of strength if cash is constrained.

GLA and aimho

Kiss of death from Zeus !