Member Info for Yanis2005

James, not certain if it is the 0.6p last year because that was only for £250,000/0.006 = 41.7 million shares - HSBC had >50 million.

James,

“ HSBS shares are placing shares some of which have been sold. No big deal. MMs bought them which should inspire confidence.”

Placing shares (50+ million)? Which placing would that be? The 0.9p last year or the 1p this year?

I hope 0.75p holds ... nearly every trade is a sell, now all at 0.75p.

If funding doesn’t close ...

If indeed there is a chance of closing the funding, there is no reason to delay it further. Due diligence has been going on for months!

There have been a few sells bigger than a million at 0.75p - these we can safely assume came from HSBC but there are still a few to go and with average daily volumes of 5-10 million it will take a few days to clear these out.

What is of concern to me here is - is HSBC selling these at a loss? They must have acquired them at a higher SP.

Gkb, true - will be a big dilemma for Knowe! To go down the dilution route will take a big hit too. Damn if they do ... damn if they don’t!

Add Forest Nominees in the mix and everything points is get the funding done or else ... I can see now why the Auditors went to this extend on the “going concern” in the last report.

Gkb, thanks for the correction - noted.

So, if they go down that route in the absence of funding, existing shareholders will be wiped out as the SP will substantially disintegrate from the mega-dilution.

Where does this leave Forest Nominees though? - or are we giving them too much credit as regard to their influence?

Just a reminder of PREVIOUS assay results from Clogau:

7 Feb 2013, Stellar Rersources Plc
https://www.lse.co.uk/rns/PRIM/high-grade-gold-sample-results-from-clogau-mine-i2mhm0usojoj768.html

Anything like this will put a rocket under the SP.

Yes, share price will respond when people see the jam. It is now time to see gold. And I think we are about to see that.

Poggit, this is AIM ... after initial excitement, the jam tomorrow only works when people see the jam.

If SF funding deal doesn’t get approved then is game over, lights out. I think you know that BV.

They cannot even go for any other projects as things stand ... cannot raise any money. The Knowe deal does not allow placings below 1p for more than £250k.

So fingers crossed, for our sake, pray that the SF funding deal closes. Amen.

Ocelot, I hope you are right. We need the funding deal to close asap and as I said earlier, hopefully before the AGM.

This will bring the SP back up above 1p, give Angus a transformational event to talk about at the AGM and also avoid them the embarrassment of having to cancel the 15 million share placing at 1p.

BV, you forgot to add a couple of zeros on your percentage calculation of the dilution to raise £12 million.

Anyway, if they don’t get the £12 mil funding in all likelihood is game over for Angus and a disaster for us.

As per the Knowe deal, in any placing below 1p, Angus can only raise up to £249,999. Quite short from the £12 million required to get SF online.

So placings is not a way forward, I doubt it very much if Knowe agree to that.

Is time for another push up. Friday’s round trip was disappointing but the charts still look good both on the weekly and daily front.

It feels as if more news are about to land ... an update on Greenland maybe followed by bulk sampling results? Fingers crossed and good luck all.

James, you can see it in your breakdown in earlier post - £5.7 million for processing equipment.

They do need a lot more money than they have.

For our sake, I do hope they close the funding deal soon. Before the AGM will be great and if Angus is indeed serious they should be aiming for this.

It will cool temperatures and also give them something “transformational” to talk about at the AGM.

James, the bulk of the money is needed to purchase the gas processing equipment which is quite expensive.

The wells will be connected to the new processing equipment which will process and clean the gas. The processed gas will then be transmitted to the national gas grid via the new pipeline, which is already installed.

We have the pipeline completed, now we need to buy and install the processing equipment and commission the whole system.

If that gigantic trade was from an insider then is game over.

If we get a TR-1 we’ll know but I have seen other very large trades in other companies (some > 3%) that were not followed by TR-1s. Might be a combination trade from a broker.

There are two hot prospects, the chances are that at least one of them will come good.

This year all countries had a huge financial blow. IMO, both Ghana and Bolivia (like every other country) will need money to aid recovery ... a good incentive to speed up ratification.

I have enough shares but if the SP doesn’t move up fast from here I will be adding more. GLTA.

@Elir,

Good job and thanks for posting the links. Your evaluation is much closed to the truth than First Equity, the latter should go in the bin - only £3 mil for Clogau?

FE Is way off not just on Clogau, they are off on all of the assets and their evaluation is too low IMO.

Took GKB’s advice and looked in the last two yearly reports and certainly there is a lot more concern in this years report than the previous one.

I extracted the below from the latest Report

“ Although there will remain material uncertainty until the funds have been drawn down, the Directors are confident in closing the facility imminently. Based on the current management’s plan, management considered that the working capital from the expected revenue generation and the Saltfleetby Debt Financing Facility are sufficient for the expenditure to date as well as the planned forecast expenditure for the forthcoming twelve months from the date of the approval of this financial statement. As a result of that review the Directors consider that it is appropriate to adopt the going concern basis of preparation.

As noted above, in the event that the Group is not successful in concluding the debt financing arrangements, there would exist a material uncertainty that may cast doubt regarding the Group’s ability to continue as a going concern and therefore, it might be required to raise additional funding to realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the report.”

A lot rides on closing the funding deal. If it doesn’t then the SP will be obliterated in my opinion.

What is interesting is the Auditors saying this “... the Directors are confident in closing the facility imminently”.

If this is true and the Directors can be believed then the Funding deal should close by the end of the month, before the AGM. I think we can discount the last week to 6th April.

Not long to wait.

Elir,

I think you will agree that ALBA SP is undervalued, no?

The SP needs to go up. So far all the talk about quartz structures doesn’t seem to lift the SP up even though it is what matters. It is clear by now that the market is looking for something else to get excited about. What could that be?

Other mineral exploration companies do, amongst structures and other relevant things, talk about gold (or other metal) content in grammes per tonnes.

Yes we are in a mine and things are slightly different but IMO the market is still looking for talk about gold ... even Stellar Resources in the past announced results (very good results) in grammes of gold per tonne —- from the same mine!

If the SP doesn’t’ go up before the next placing is needed then the next placing will be at a lower SP than the last one - not good for us, unless you have the funds and buy more to average down ... and keep doing this as and when.

There is no reason for the SP to be this low, other than the nature of the information coming out of Alba. The SP (IMO) should have been a lot higher than where it now is. Stellar announced results in grammes per tonne - why isn’t Alba doing something similar?