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Pinderi Hills Joint Venture: During the current quarter Errawarra will commence its reconnaissance
exploration for lithium pegmatites on the Pindari project tenements which will include mapping, stream
sampling and rock chip sampling.
Like i said Naph ;-)
Take a look at their previous updates to get a better idea of what they spend and how long they take.
Heres the latest report - Filled with Mapping and Sampling
https://wcsecure.weblink.com.au/pdf/ERW/02801679.pdf
They do seem to get on with things, and communicate with shareholders. A big plus :-)
...and an available team to focus on Lithium, just dont expect much drilling any time soon.
Yes, as ever it will require patience for UFO to come good. Sadly, for the likes of cj and myself, patience will not be enough. It would require a life expectancy well beyond what medical science would see as attainable in the foreseeable future.
I dont see the downside to the deal personally.. if you look at it purely from a newsflow point of view it has to add quite a bit of attention to the company.. opens UFO up to new investors that might not have been interested before.
Quite clearly technical trading continues to be the dominant force here.. the downtrend is firmly in tact.. even with two pretty decent updates the downtrend has stayed in place.. the selling on the JV news was pretty obviously coordinated..
lets hope UFO pull another rabbit out the hat soon and this trend can get broken.. or its a another leg to a lower low I am afraid..
Are their geo’s any better than ours?
Is RS holding in ERW greater than his holding in UFO?
If we have given 50% of Lithium away, for A$4m exploration expenditure, and it couldn’t wait 9 months for Iron Ore cash flow, does that mean we get similar deals with our family business for the other mineral rights?
When these affiliated by ownership companies share Directors and offices, it’s easy to solve one’s companies funding issue, by moving assets around, will GRE get the Nickel and Copper rights next?
What is Rob Mosig involvement, as the ERW didn’t need him to broker as Guy works with Thomas Reddicliffe at GRE. Is Rob working on JV for PGM, separately from the Silver, as this deal may have scuppered a larger miner taking a JV on the whole tenements, now the Lithium rights are JV’d.
So many more questions, now the CLN’s have taken us to the brink, and the London market got right royally shafted on the last bungled placement, our future now rests on Iron Ore News in the next few weeks.
Feel slightly deflated currently at the ambitions here, need a real banger of an Iron Ore as a pick me up, to get back to maximum bullish posting.
GLA
Right now they just cant do the right thing in some posters eye.
They got a deal done, they get to see what is there for free abd we get updates.
Its as if people want it to be rubbish drill results next. Sell on if youre not happy or at least start looking at it as a half glass full if youre staying investedd
I agree Sinter, its all a bit 'Meh' right now.
For me the charts look much better across the AIM explorer dogs than they did a few weeks back. AXX looks like it could go higher.
Just a bit concerned rates staying higher for longer. These dogs need easier access to money. Time will tell.
Just going through all ERW RNS since 2020 now, will report back any findings.
Bennelong had a small involvement back then, may be much larger now.
Does Windfield or MJS have a stake, is this a way of passing value around to ease performance payment.
Would love to be a fly on the wall in their shared offices!
https://wcsecure.weblink.com.au/pdf/ERW/02321273.pdf
I agree that’s why I’ve taken the day off Napthman, I have too much invested here not to be on top of everything. I’m hoping others will join the research today, because selling out would take me days and weeks without the positive Iron Ore news around the corner.
Plus we are all allowed a wobble, I remember negativity recently in current positive posters.
All 4 companies are interwoven. GRE, UFO, ARV & ERW. Same issues at all too, the lack of cash for explorers is the norm., but the broken promises is common to all 4 too. In Feb GRE said they would drill the Osborne JV ( with ARV ) in March - no drilling yet. Why is ERW not getting on with proving up it's Li.....Worth getting the PI's views on Hotcopper - much less sniping and more exchange of info.than here.
The quarterly updates on ASX include cash flow and some expenditure figures, would be useful to have the same for
UFO.
Will be interested to see what you conclude Sin. Is it just a game of chess or is there an end game?
Your right Sinterklaase I have been pretty bullish in the past but got really down about UFO for a while .. funny enough though i am more Bullish about the company given that we now have the License and the JV.. But you cant please everyone...
Its obvious that there are players pulling strings here behind the scenes.. but 50% of nothing is nothing if there isnt any Lithium !! or its not economical to mine.. If there is a big find then we get it drilled for free and we hold the right s to all the other goodies anyway..
I have to say that I dont hold the fantasy that Hanc0ck will flood the company with free cash to drill things anymore.. Unless there is a sustained uptrend in the price the margins are not that good and the costs to production will always be higher than the estimates..
Its clear to me that my original thoughts about what UFO would be by 2024 have been badly wrong on every front.. but the company does have good assets to develop in the right area of the world.
My expectations here are low, and tbh its made it a lot easier to deal with the constant Management failures and broken promises.. but for some reason it seems like they have finally started to deliver !!
Sinter i have noticed and my 1st reaction was what another placing and then i read it all slowly and realised its not so bad, they have shares invested at in us at a higher price than today so they have a vested interest it it doing well
One thing to look forward to is all of the heads of agreements will now be with the solicitors making them concrete and we will get a flurry of rns confirming this in the coming weels
Artemis - Sold All
Platina - Sold 100m of their 140m (yes i've looked)
Errawarra - same story will happen.
@AD, you mean ERW will dump their shares in Alien Metals on next meaningful rise?
I guess investments held on the balance sheet convertible for cash, in a tight financing market, is instant liquidity. Alternatively maybe ERW on the Aussie exchange will find it easier to get a placing away than UFO. Effectively this is what it’s all about in exploration, if one in 3000 make it, the ability to raise cash is more important than the economics, geology of the deposit and commerciality of the business. Moving assets around and JV’s gives the company another chance at a raise from a new set of investors.
I’ve been on Hotcopper for a couple of days, and much prefer LSE.
The collective group companies have amassed a large landholding, I guess the chances of hitting something big is what keeps the large investors increasing their ownership.
Sin - Yes eventually i didnt see any escrow agreement in the terms.
Assets get moved around, agreements get made, all paid for with new shares being issued in both companies. Not a bad way to create money in bad times. Sharesholders diluted, Consultants (RS) gets paid a nice sum for advising such schemes.
Simples.
My Anger and frustration in this stock is purely based on the Funding arrangements that RS chooses to Fleece the ignorant and blinded PI. Just a shame people choose to look the other way and focus on the Jam tomorrow Stories.
...and that my friends... sums it all up.
They confirmed the presence of pegmatites during the ground reconnaissance and similar pegmatite swarm to AZS which is now valued at $1.7bn (and they only own 60% of Andover).
"Errawarra has immediate plans to commence exploration for lithium on the project" and we should also be getting results of the re-assayed core with all other data of other battery minerals.
We also get extra A$500k cash and focus on our flagship Hanc0ck project and getting it fully permitted by next month with offtakes JV etc. Sounds like a good deal to me.
Surprised the mcap is still around £10M. Plenty of scope for further falls in the SP given recent news...
And Maxie Boy gets fed by the same people Fleecing YOU.
Richard qualified as a solicitor and worked in investment banking and has over 20 years experience investing in the resources sector and providing corporate and strategic advice for resources companies listed on either the Australian Securities Exchange (ASX) or the London Stock Exchange Alternative Investment Market (AIM).
All paid for by issuing Shares and Pump and Dump Schemes - participating in and charging for the 'advice given'.
@theannoyingdevil. Sounds like you are still waiting for a placing to buy into.
Re-rates & Hanc0ck JV first.
Errawarra alone are confident their own newsflow will get the SP flying past 0.2p.
Hanc0ck update very soon. Mining Lease was just the WA Dept of Mines.