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Did any one care to think that deal may not have gone through because the owners wanted to big a cut and were just greedy. If it were on my land I’d be telling them to shift or or begin to charge the rent for it being there.
944T
@max the people that panicked this morning were clueless gamblers. If you were researched you would have known that by leaving the tailings for now bill has shown his commitment to iron and can negotiate a better deal for the tailing in future with increased funds.
This is a game of stepping stones and making the right steps forward which we seem to be doing.
It's all about the iron ore now
Good move BBG, let's concentrate the project that will give the company & shareholders value.
Still getting NT to buy. A 1M buy went through at 0.87p.
Some people panicked and sold at 0.71p this morning!
Time will tell if this was a good move. Part of me liked the idea of the tailings funding EH but if Bill shows that ufo are focused on han**** develop this then return to tailings at later stage when silver price higher it's good example of leadership and patience for a junior
The market sem to like the focus on other prospects. Up 8.5% at the moment.
Looking good.. Now for news on the DSO iron. :-)
@mapp. I'm actually relieved & happy.
NT to buy at moment!
Chris is happy, Max is sad.
Some investors going mad.
@EWT98 - I'd have been surprised if it was even going to be worth as much as £2m profit to us, at current prices the silver in the tailings is likely worth no more than £4m but by the time you allow for the fact that the owners weren't going to just give them to us, the fact we'd need expenditure on processing the tailings and we wouldn't get 100% recovery anyway I was working on the fact it would have been roughly £1m in the bank if it came through.
A useful little cash boost to a small company like UFO with a mkt cap of about £30m but insignificant in terms of what some of our other projects could be worth.... so as you say a non-event which has nevertheless wiped 10% of our SP
Key. Project. Developments.
I’ve just spread that all over my toast and devoured it. Alien are keeping their cash for what is important. Talking about poor business decisions only yesterday and yet here we have clear evidence of a really sound business decision. Another tree shake, another patch of clear air turbulence. But the reality is that this all supports the more substantive objectives.
Exactly HH, this project never added any value to the SP, was never going to be worth much more than around £2m profit at some point down the line (unless silver prices went up dramatically), was never even confirmed to be going ahead and yet 10% of the companies value is dropped over it.
They’re playing with us for a bit of volume, nothing fundamental.
I am actually relieved the deal didn't go ahead at the moment. Acquiring the tailings will require a fund raise of well over £1M.
Not worth doing it at the current SP.
Good call on BOD to focus on key project developments.
Well markets never like news about not doing something so a drop in SP seemed inevitable , but somewhat odd since it is effectively a notice to say we still aren't doing something we we never doing in the first place but may consider doing in the future.
The EH tailings are small potatoes in the Alien portfolio, and this is a normal commercial decision to focus on higher priority projects for now.
napthman1 - I don't think they can share tailings grade info as probably under an NDA
Feels like they are simplifying and focussing on biggest rewards atm now that they know exactly what they are
Cant see how the market would have an issue with that.
Tailings was what, £1m?
Dont even a visible mark on the side of what the Fe could reach and they are pulling JORC together now are they not?
Seems sensible to me look at all info from recent, on balance
ewt that is true
We didn’t move on tailings announcement, so I wouldn’t bank on moving down on the ending of the exclusivity agreement, bar the usual games to create a bit of volume.
I make iron ore results to be due in the next couple of weeks.
They need to be telling us what the bigger fish are then. Our only JV pulled out and now this. Whatever they are pursuing best knock our socks off. I suspect another 10% drop today is on the cards.
no one noticed that no results on grams per ton were given.....
any thoughts? dont want the market to know good grades? or they haven't got them back and the the iron ore discussions are progressing, all guesses at this time
going to the moon, rick rule thinks silver will will lag for the next 12 months, so its not worth doing until we are over $30 dollars and then maybe no raise needed, maybe they want to much for the tailings, so we need a higher silver price, so many factors, maybe discussions are in re the iron and that may need a few more holes to get jv. so many factors to think about
I'm in favour of spending our cash on in the bank on drilling rather than acquiring the tailings (at the moment), since it will require a fund raise.
Our funds only cover us for drilling/exploration this year, not acquiring the tailings.
Best to wait for higher SP, then acquire the tailings.
Silver price quite high what other project they do .. iron ore no news at moment
@BBaggins, it said, "We still see potential in the silver tailings, and may revisit the Project in due course when other projects will allow for this."
They have bigger fish to fry!
in other words its viable once we have a higher silver price, sensible approach, and also the focus should be on the iron ore right now, now i wont be surprised if we see .6 's unfortunately but a great buying opportunity