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That's great jwoz. Totally stand by my earlier comments. It's a shame they didn't revise the actual calculations but I guess we can do that ourselves. Whichever way you slice it UFO's current SP is much less than the sum of its parts. It will rerate all in good time.
Not sure if this will work but here goes
If it fails - just go to aliens website and under research reports. Listed on 22/9
https://www.alienmetals.uk/investors/research-reports-2/
Thanks jwoz but unfortunately it is just bringing up several versions of what was in the RNS. Nothing from TP. When I search 'Turner Pope Alien Metals' I just get the Feb one as being the latest. I recall them revising a statement back around May but from memory it did not include any recalculations.
Are you able to share a link to the latest TP note please?
Stick this opening text into a popular search engine…. (Safe to say TP val is well up give BBGs excellent tactics this year)
Alien has announced a much-anticipated maiden iron ore resource estimate (‘MRE) in excess of 10Mt Direct Shipping Ore (‘DSO’) on its Han**** Iron Ore Project in the Pilbara region of Western Australia. The initial Inferred JORC compliant resource stands at 10.4Mt @ 60.4% Fe including 7.8Mt @ 60.1% at the Sirius Extension target, 1.5Mt @ 61.2% on the Ridge E target and 1.1Mt @ 61.9% Fe at the Ridge C target. Yet with not even a quarter of the available ridge targets having been tested, the Board is confident there remains considerable potential to define substantially further accessible DSO grade material. Accordingly, it is now pushing ahead with detailed development and study work to bring this online as soon as is practical while planning continues for its Phase 3 drilling program which should ensure news flow remains heavy into 2022.
Am pretty sure TP have released their revaluation and revised broker note. I was sent it via email.
Yep, good read. Thanks Dip. Confirmation of where I already stood although based on a lot more technicals than I can comprehend at this point. I'm a fundamentals kind of guy and they look pretty damn amazing imo.
Patience, hold and buy the dips aimv
https://mailchi.mp/75c48d2175f9/david-erfle-weekly-gold-miner-sector-op-ed-1600078?e=8e302edc1e
This article also has excellent commentary on the sector that should be considered when reflecting on our performance this year despite positive progress in Oz.
A more prudent approach to valuation.
TP based on there Feb valuation valued the 10mt at Sirius extension at
10mt X £8 per t = £80m x 20% (80% risk) = £16m X 51% (our share) = £8m. That is a little under a third of our current total mcap. This imo is also a highly conservative valuation from TP. Also remember that this £8m value accounted for less than 20% of what UFO have (TP were valuing us at £41m back in Feb at the low end, £83m high end.
I believe TP still have to publish there take on the recent developments but based on their Feb assessment, it would look like this.
10mt X £8 per t = £80m x 100% (0% risk) = £80m X 90% (our share) = £72m. That is a little under a 3x our current total mcap. Apply risk if you want but the 10mt will grow so it counters it anyway.
Remember, this is just Sirius and the new Ridges. A relatively small part of just 1 of our projects.
https://www.mining.com/web/iron-ore-miners-lure-workers-to-outback-with-resort-style-living/
Yayay, to put it another way. At a modest profit per tonne of DSO of $50 our mcap is is currently worth 740,000t. Ridge C at Han**** is 20% shored up at 1.1m relatively easy to mine tonnes. Very simplistic view but if that doesn't prove my point what does.
Happy for anyone with a slightly more negative view on the prospects of UFO to tell me why they think UFO won't go onto to be way north of here. Try to include logic as well please, oh and no one liner trolls please, you're views are worthless.