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No it isn't.
If they win, we win
If they lose, we lose nothing.
As a small business they are incentivised to work this in a way we would never be able to do.
If your issue isn't that they are a minnow, as you stated before, what is it?
Bfd your argument is an investment case for them not us
My point is we given too much away to a minnow. We should always be trying to do deals where we are the minnow and am ok with giving away 50% of Li rights but I expect that to be with a major willing to spend 10million plus on drilling
Smiler my point is GGP were a minnow at the time, just the same as the guys we have partnered with. They paid peanuts and look at the results, a beast for both parties.
Your point, i thought, was you were disappointed at the size of the partner. My point is its not necessarily a bad thing. Oaks from acorns and all that
Today was a good example of why some people here need to grow a pair!
ERW is supposed to have one of the best Li tenements already, next to Azure. Short of cash too, share price down over 50% this year. Nothing to be gained by 4 years of work at Pinderi Hills, just the usual Bennelong games.
5x5Croire, no UFO has not gained $4m in cash. We have got A$500,000. The good thing is UFO doesn't have to spend anything to test for lithium.
Chrisatbirdies, UFO isn't doing a JV on hanc0ck. They are looking for offtake of the high grade ore.
Bfd but in your example we aren't ggp . Look at how the sp has reacted today from us and them
Smiler, it's how things work.
This is how GGP started back in 2016. Not saying the same will happen here but as I posted before explorers are small until they hit it big.
Greatland agrees to acquire 100% of the Havieron Project in Western Australia for an
initial payment of A$25,000 in cash and the issuance of 65,490,000 ordinary shares
of 0.1 pence each in the Company ("Ordinary Shares") (approximate value
A$225,000), and a second payment, triggered upon a decision to mine, of
145,530,000 Ordinary Shares (approximate value A$500,000);
• Havieron Project covers 135 square kilometres in the Paterson Region of north
Yes, I know Prospector. Was replying to this "and have gained $4m in cash. where are the downside to the deal?", which is incorrect.
For what its worth my opinion is that this is a no lose, joint venture that could in time produce a very large gain. However. Hanc0ck progress is needed and the market probably believe ufo haven't the management to be working on two projects, so the likelihood of an iron ore venture in the near future just recinded
Napth I think the reality many so under water (not saying it's not our own fault) that no point to sell. We still have a right to be critical of the board and deals being made . I personally think the company the jv is with seems suspect and too small. I am glad it's only for lithium but if there ends up being a tonne of lithium and you gave away for peanuts questions have to be asked. Time will tell
Lol this board is a joke. Sell move on, i didnt like what i saw so i sold out, then i liked what i see so i bought back in heavy, don't moan sell move on, loads of shares at the bottom to
Shift to if youre nit happy
Wents shorts need to get out, this will bounce. Mining licence, lithium jv. Vivash incoming...... follow the crumbs 🤔😉
5x5, 130,000,000 shares is only 2% of the existing share capital. But the placing was at a premium of +25% above today's closing price.
It's interesting that the big drop today happened at around the time there were a couple of intraday shorts, two of the three parts were reported late.
Games being played imho, let's hope in ground fundamentals finally win out
If this is the start of the moon monkeys cryptic messages about the transformation of this company, I would have to say he is not off to a good start. This company always provides mean with a good laugh 😃
Don't worry about them, cjmorley. The cry babies will get over it after they have run home to mommy.
Only cash coming in is AUD500k, so £250k for shares.
i still agree overall if this company had a ceo with balls they would focus on han**** deal wait a year and use the income to drill all our projects themselves and keep 100% this would be my plan. if this company finds lithium ok it's good but then we also gave away how many millions for peanuts
So someone is paying a fortune for lithium rights and the markets see it as a negative and you see it as a positive, have I got that right.
All everyone seems to mention is Hanc0ck and how much they will makke from the iron ore, they have sold £500k worth of shares at a price above todays and last weeks listing price and have gained $4m in cash. where are the downside to the deal?
People didn't realise the JV was for just for the lithium rights until the UFO RNS. Someone even sold 18.5M shares at 0.143p!
They got the wrong end of the stick again, probably due to reading posts here.
As a real shareholder, I am delighted with this deal.
Nice one Max,but meanwhile in the real world,I just asked you a honest question and like a politician, you just changed the subject.
After today I am just forgetting about these shares.
I have not sold any for the record I would rather lose the lot than sell for this price.
News of a Jv and this happens , I am at a loss,so I was just asking you to be honest, is that to difficult for you.