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brig0d00n, I have legit cashed in 2 years worth of loose change savings so that I can justify a small £££ punt on UFO come market open on Monday. I was toying with consolidating on EUA but after a year on SXX alone this is the season of risk spreading for me.
Regarding what Normbeef said about project development of all items on the UFO portfolio. I am confident in stating in one of the RNS's the BOD spoke about weighing the value of JV'ing/100% project ownership or sale of asset/mine/plot etc. So basically whatever they reckon will bring maximum value so sounds good to me.
Well I'm happy with my holding here, just hope folks have topped up their Share Dealing accounts (Not too late) and set their alarm clocks for tomorrow on potential news... Re: Decision on 51% acquisitions.
ATB
I like the idea that buying "next door" to the big boys could be a very good play. When you consider the costs of moving large equipment and personel around to new areas its attractive if you only need to move it across a boundary line (if you sell to them).
I would prefer they only look to develop the sites when its as easy as dumping it into a truck, as i would worry about the costs of getting to production on all of the sites given they are all over the globe, they could easily get spread too thin. The costs of doing this could slow up the progress if not careful.
The company strategy looks to be develop all of the prospects: but im not sure?
"Build a portfolio of mining projects which demonstrate development upside in global jurisdictions with an established infrastructure and mining codes, where strong operational controls can be assured"
One thing for sure this is massively undervalued and some serious money to be made here
Xataxx. Anything and everything is for sale at the right price.
Worzel and Ohmni- Thank you for researching. I am wondering why did not these giants consider taking up the licences to mine earlier. I know big miners have bought over a lot of small miners but do you think UFO board will do that. In my opinion the board is sitting on cash mines and all it needs is production with some cashflow.
Ohmni. Two things you should also consider is the fact the Mexico license is almost next door to FRES silver miner. That mine has only got a few more years left. So a possible buy out for that one by fres.
The Australia iron ore project is close to Bhp billiton so again another buy out is possible.
Forget the Aussie Fe, it's about the Mexican Ag
"San Celso Project
Reported between 0.5 – 6.0m vein thickness of the main mineralised veins with associated wall rock mineralisation
Indications are that mineralisation continues at depth below historic mining and on strike in both directions
Previous and recent sampling by Alien confirms very high silver grades up to 1,389 g/t Ag, with high grade average (>200 g/t Ag) averaging 441 g/t Ag from 96 samples
Los Campos Project
Contains at least seven shafts developed along the length of the Los Campos vein, developed to a depth of at least 50m in the 1900s with combined mineralised veins striking over 3 km of Los Campos and San Rafael veins
The San Rafael vein not yet tested – significant potential for it to be as mineralised as the Los Campos vein
Historic and recent sampling confirm very high silver grades up to 547 g/t Ag"
Now that is the kind of stuff that makes me think buy and hold as a JV/sale of asset on a silver mine could do wonders to the MCAP down the road. But then again JV could dilute early shareholders. IMO of course but the Mexico portfolio looks strong and it seems a strong venture is emerging in Australia and UFO have minority interest in a Russian Gold mine so I would say this company is currently undervalued. Not that I'm an expert mind.
Now if only I had ££££ to play with and not £££ come Monday as there are other companies vying for my scant capitol (INSP is worth looking at Imo) but I can afford only one more this side of Christmas. Although if I have my way I will have more capitol in one years time. One of these £££ AIM mining punts has to strike proverbial or even literal gold... (shuffles feet nervously) eventually. Right?
Don't answer that but DYOR instead.
I need to go through more RNS's but that last RNS alone has me thinking this is a good bet. Scoop it (iron ore) and ship it? Alright. Now as much as this share seems undervalued as is I'm kinda kicking myself having only just found UFO as it seems like it could do a EUA/TRX/KEFI any day now and only one of them did I get in on before the herd multibagged the SP for early shareholders.
So time to do some research, as I keep on hearing something about another RNS being due regarding something in Australia, and set my alarm for market opening on Monday as this one looks ready to spring.
GLA.