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It's From the Vault
https://kinesis.money/live-from-the-vault/
Maybe like the UK, Turkey can't afford to buy gold... unlike the Russians & Chinese. Did you find the original video Max?
@smiller - there's a lot of sense to what you say and from a business point of view pursuing the iron at Hanc**k is a safer starting point for a small junior like UFO to begin from , but long term I stand by the view that our silver may turn out to be where our real value lies.
Iron ore is not a commodity to excite the markets (though that doesn't mean it can't make profits), and forecasts about where it's price is heading remain conflicted with no consensus. However silver is a commodity with a fanatical following that has previously driven prices to crazy levels. We don't need to explore here all the reasons why silver bugs feel the price is not just heading a little higher but insanely higher. So whilst many of these predictions are probably over optimistic we should acknowledge even the more pessimistic forecasts from non silver bugs suggest silver prices will rise. The ~3m oz of silver remaining of the JORC at EH is a relatively trivial amount in terms of most silver mines, but the surrounding area has the potential to deliver much more. IF and and at this point it might be viewed as a big "if" it ends up delivering upwards of a hundred millions ounces but at lower grades typical of most commercial silver mines, and goes in to production when the silver price is somewhat higher then it could dwarf Han**** in term of profitability. Plus as others have said, whilst we have another iron prospect, we also have other silver prospects, so this doesn't have to be an either/or situation, more of a win/win.
I've been pleasantly surprised by the estimated economics for Hanc**k recently put out by UFO, and so I see the sense in pursuing it, but long term my eye is fixed on our silver.
'Turkey buying up all the remaining silver bars' Andrew Maquire
https://twitter.com/Wanderi68564354/status/1451974200860844035
#silversqueeze part2 getting close :)
Don't forget the Mexico silver - San Celso and Los Campos as well. There's also the new Andromeda extension to San Celso, which is a continuation of the Andromeda vein with high grade surface readings. The drill permits could arrive any time. If we take all 3 deposits together it is potentially a lot of silver.
https://thewest.com.au/business/gold/the-perth-mint-puts-king-henry-and-karratha-queen-massive-gold-and-silver-specimens-on-display-ng-b881894399z
145 Kg nugget from EH.
I’m not an expert but What would it take to simply re open EH and continue from where they left off when it was closed due to the price crashing and it becoming uneconomical to mine? To me the DSO iron ore we have is a quick route to production and cash flow, but based on transport links and mine shafts already being in place at EH, is there a great deal of difference to generating cash flow at EH quickly? $50 is a huge upside from the $4 when EH closed
MP , am not snubbing the 4M but lets say its even 10Moz at $50 so 500M best case gross , I bet the costs of such a operation are quite high. So we looking at <500M for sure. 500M is probably the profit we will get from 10Mt of DSO at Han**** , The odds of finding multiple 10Mts in those ridges is way higher than max case for Silver. I know Max and others like to think of us as a junior Silver miner I think we are a Junior Iron miner with alittle Silver..
"Elizabeth Hill is historically one of Australia’s highest grade silver mines and has produced over one million ounces at an average of 2,195 g/t Ag (70.24 Oz/t Ag) from an initial resource of just over four million ounces. The deposit was also unique for the exceptional native silver nuggets including, as previously reported, a single 180 Kg nugget. Mining ceased in 2000 due to a depressed silver price and a fall out between the JV partners East Coast Minerals and Legend Mining hence the remaining considerable untapped resource."
Single 180 Kg nugget !!!
Average of 2,195 g/t Ag (70.24 Oz/t Ag)
These are truly exceptional numbers. Only the initial resource is 4m oz. UFO now picked on this and the resource could be substantially higher than 4 million oz. Just look at the average grade. Huge untapped resource at Elizabeth Hill. I would expect final resource figure as over +10 million oz.
4m oz @ $25/oz = $100m
4m oz @ $50/oz = $200m
Assay results from 1st driling batch due soon.
Silver about to enter a major rally providing huge leverage to UFO price. Still cheap and early doors.
This is just massive upside potential just from Silver. Hanc0ck upside is much much bigger as they dig into those 'multiple' parallel ridges discovered next to current ones.