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AA still in the running then?
https://www.zerohedge.com/commodities/bhp-proposes-39-billion-takeover-over-anglo-form-copper-mining-giant
why would a larger iron ore producer with fob costs of nearer $20, spend the $85 in our development study?,
surely they would jv and use their own cheaper contracts, or renegotiate due to economies of scale.
they surely would also not spend the semi variable and fixed costs that small operators need to spend.
i would imagine the jv partner who benefits the most from our road construction would offer the best jv terms, and we would have the most leverage over i.e. no capex funding, no road.
bhp group limited
anglo american plc
fortescue metals group limited
han**** prospecting pty limited
mineral resources limited
please form an orderly queue.
guy, rob and elizabeth are just conferring with their advisory panel and iron ore specialist consultants.
we may be in touch during the early part of next week.
Norm there is no right answer . I guess if you go down contract route we need to borrow or get the capital upfront and that comes with risks. I think I lean more towards a good jv with a good miner who we can continue to work with on the other DSO sites and they cover the upfront costs
Hopefully some good news get the share price up 0.30 for a start
Tbh.. the issue was never "can we sell the product" that's a given.. the demand is there 100% the issue is can UFO get the funding to get the mine / road to get the Ore / to screen it and load it into the trucks and away..
For me the JV model doesnt really work on Hanc0ck.. Happy to be proved wrong but I just dont see that the margins are wide enough.
with Ore at around $110 and FoB at $85 then $25 Gross per tonne.. there are likely other costs like further Drilling etc.... so even if its a 2Mt producing Mine how much would UFO get from it ?
As a shareholder surely everyone wants to see the maximum profit realised.. For me a mining / management contract would be much better.. a JV suggests that an "earn in" agreement is on the cards..
New UFO Linkedin post:
https://www.linkedin.com/company/alienmetals/posts/?feedView=all
His Excellency The Honourable Stephen Smith Australian High Commissioner to the United Kingdom also speaking
https://uk.embassy.gov.au/lhlh/HC.html
Someone has friends in high places.
Well done again to the UFO management team putting this together. Getting serious.
Very, very interesting 🧩🧩🧩
IMO good news definitely coming before the event.
If I were an exec of UFO about attend a presentation next Wednesday. I would put out an RNS even if it were relatively trivial.
There are many items that could be updated in a very positive way :-)
agreed, đź‘Ť need to monitor likes on linked in, x retweets etc, of neighbours, financiers and advisors.
……………………………..
o considering various longer-term financing options, including continued discussions with strategic partners regarding offtake funding, debt, and equity project funding in connection with the han**** project and the pinderi hills pgm, silver and base metals project; and
o actively exploring the potential for the sale or joint venture of non-core assets providing further funding for the company.
? appointment of technical director, mr. rob mosig, to the board as a non-executive director, who brings significant expertise in exploration, development, and strategic partnering, whilst having direct experience on the company's pgm and base metals project in the west pilbara. following rob's appointment, mr. alwyn vorster has stepped down from the board to focus on his other directorships and business commitments. alwyn will continue to assist alien metals as an advisor to the board on the han**** project development.
? the company has further strengthened its iron ore team with the appointment of an iron ore expert from global mining consulting firm csa global (now erm). csa global has extensive iron ore exploration and development expertise, including significant roles with fenix resources ltd (asx: fex), which transformed from an iron ore explorer to a producer within 18 months.
? an advisory board is to be established, consisting of technical and mining industry experts to guide the company on the various strategic options currently available to alien metals for the financing and/or development of its key assets.
? the project and technical team will continue to focus on the han**** project, progressing exploration to increase the resources and reserves as set out in the development study on (aim: 8 february 2024). the study demonstrated strong economic returns from the han**** project, as outlined below.
……………………….
hopefully news before the london event next week.
Yeah that makes sense. I think the JV will be our neighbour to the north... That road is mighty important.
Sorry Max, I was replying to Smiller, and saw your post after I’d finished……what he said 👇
They have recently said in the last interview we are not “Miners”, so the AA offtake and funding must have been discounted at board level, and not be one of the many offers they have received and are looking at both Hanc0ck and P.Hills.
The Anglo deal from 2022 was an offtake deal, not JV.
RNS last year stated UFO received offtake term sheets from other interested parties also.
Funding Facility RNS stated:
"We have recently received positive interest from potential Joint Venture partners following the results of the Development Study."
Then UFO Executive Chairman Guy Robertson confirmed we are going down the JV route:
https://www.youtube.com/watch?v=9u5DyNaRKOo
Alwyn also mentioned in his IG interview:
"There are quite a few interested parties talking with us about a joint development."
Anglo deal was up to 3Mt of product over a 3 year period.
Now situation has changed with JV deal on table to "targeted to deliver a mining operation of 2 Mt per annum".
I am hoping AA werent the ones to have a deal on the table or the only ones. I would imagine if BHP put in offer for AA then they would stop all on-going takeovers JVs until that is concluded. Which would slow our plans down. Personally we would most likely get a better deal form one of the smaller majors.
aa is still on the ufo website regarding han****, not sure what else us pi's have to hold on too?
This might be what is holding the JV news up! Statement re Possible Offer for Anglo American.
We will know long before official news comes out. So its looking like no more news for a week at least
Me too, Struggling to see when the next news will arrive - good look to the share price between now and then. This BB is becoming my support group now so any positive spin is much appreciated.
Yes, I am surprised and disappointed too, cj. I fully expected the off-loading by speculative traders. And I never subscribe to the "'ere we go! Off to the moon! Fasten your safety belts!" uber-enthusiasm that breaks out as soon as an RNS lands. But with the potential unlocked by the permission I did think that we could at least hug 0.25.
Upping its virtual figures, I’d be happy if they were mining 1/4 ton as long as they started mining
Several messages changed there to the upside:
As you point out Max, up to 2Mt Pa, also the 6 year mine life has gone to 10yr. This has probably triggered extra port capacity negotiations based upon additional volume, impacts on roadhaul storage and shipping. I can only imagine that the economics have got better, and we may be looking to an improved cost per ton in the final costing study leading to FID.
Probably a very good reason why the website / presentation is not updated yet, being impacted by some busy people with calculators I expect!
Very exiting. ATB PJ
Alien Metals lands mining lease
https://minersnews.net/alien-metals-lands-mining-lease/
Interesting that UFO "targeted to deliver a mining operation of 2 Mt per annum".
Looking forward to news on why it's increasing from 1.25Mt to 2Mt per annum :)
@bishop
"Are you becoming a Doubting Thomas too CJ? "
No I remain confident that all will be good.
Fair to say I was surprised and dissapointed that the DMIRS permission did not push the SP up considerably.
This
https://www.ft.com/content/9141eee7-825a-41d7-913d-49e8c12e76db
Chris2 more of the usual ego driven rubbish on a share where you have no investment
Where do you invest btw as you only post here?
So, who will do the negotiating?
I'd guess a mix of middle management that is already in place led by the executive chairman, the non exec with 40 years doing that in the jurisdiction, the board advisor and the highly paid consultant they have seconded to do just that
Seems a sufficient team to me
Flatliners. Didn't some people take a gamble on the ultra low share price, when it was obvious the Mining Licence would be granted? Others beat most to the punch by monitoring the Aussie website.
Basically, isn't the recent rise, and fallback, just part of normal trading, magnified by the increase in Day/Week Traders?
All future, positive, news will see the share price fly!