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The aeromagnetic surveys, geochemical surveys, trenching, and drilling cost about A$1.85m over the last 4 years, on Elizabeth Hill mining licence tenement. That is A$462k average per year. Now the commodity market mini bear market within a secular bull, is turning back up, further positive exploration news would give the board more financing options at higher share prices, rather than less favourable bridging loans each time they are negotiated.
A project generator cannot sit on this potential resource indefinitely, without increasing it through more cost effective exploration activity. Especially if we have geologists on the payroll.
Eagerly await the Q2 Re-assay existing core, EMS Survey, EH down shaft survey, Geochemical Surveys and Filed mapping surveys. Then Q3 strategic partnering process, which sounded from Guys interview, they could have made an early start on.
Thanks CJ, it's not crack BTW, it's Carling lager. Seriously thanks for the backup. Like many I'm in a hole here but when I read something it sinks in. I still maintain that I haven't seen a game changing RNS that tells me we're doomed. Yeah delays and funding - it's an explorer on AIM what do people expect? High risk, high reward.
The progress is slow but industry is slow? Slower after lock down because noone seems to give a toss anymore - not in my industry anyway. Ports, roads, KNAC all seem like ducks lining up.
If I'm wrong then it's only money and I'm fortunate enough to have enough to invest in companies like ufo.
GLA
More to do*
More to with quantity rather than quality. Enough known/proven for a very small miner. We didn't drill enough. Our problem is cash for exploration. Access is easy, we have a mine shaft. We could have another mine shaft, if another hot spot or it could be open cast mined. All would be helped by a serious shift in the silver price. Gold to Silver ratio is outrageous.
….and yes before anyone asks, all the RNS are there on Alien Metals website and LSE, but you click on the link they cannot be found, it’s a bit like our bonanza grade near surface Silver nuggets, we all know they are down there somewhere, but we haven't got a clue how we are going to access them easily.
this is being held back for strategic reasons, the world leading silver intersection would have peaked someone’s interest, if not we may as well all sell all our silver investments and lob the lot on momentum stocks near the top of a multi decade bull market.
2020
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https://www.alienmetals.uk/wp-content/uploads/14122020-australia-exploration-update-rns-final.pdf
2021
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https://www.alienmetals.uk/wp-content/uploads/04.08.21-inaugural-drilling-elizabeth-hill-rns-final.pdf
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https://www.alienmetals.uk/wp-content/uploads/18112021-elizabeth-hill-trenching-rns-final.pdf
2022
✅ ✅ ✅
https://www.alienmetals.uk/wp-content/uploads/maiden-drilling-core-results-eh-rns-27012022-final-194515.docx.pdf
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https://www.alienmetals.uk/wp-content/uploads/maiden-drilling-rc-results-eh-rns-25042022-final21.pdf
2023
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https://www.alienmetals.uk/wp-content/uploads/elizabeth-hill-and-han****-project-updates-final-pdf-clean.pdf
2024
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27 March by Peanutty. 19:19
To be fair to pebsi, this was posted 27 March by Peanutty.
"@pebsi, you have to be smoking crack to say you haven't heard a bad response in 3 years from alien. Placings, loans, directors share incentives, capstone pulling out of a JV, drill cores soo bad they couldn't get analysed, Elizabeth Hill tailings, ceo's leaving with no replacement, a fake dfs, buying Greenland. The list is huge"
Easy to see his interpretation of this statement
"drill cores soo bad they couldn't get analysed, Elizabeth Hill tailings,"
Fear, uncertainty, and doubt (often shortened to FUD). Drill at EH went well apart from one hitting some sort of cavern. Results were excellent. No one said it was a duster - far from it. Just needs dewatering & some cash. Have a chilled weekend pebsi.
That was for Bline 59. Honest question?
What does FUD mean? I may be a bit older than you? which RNS calls EH a duster? I may have missed it. You're the clever one why not help out a fellow investor?
Which RNS? are you saying EH is a duster?. I know I'm thick
Good research D3T although 17 we already have a mining licence for Elizabeth Hill and hadn’t heard Bradley Toms or Lloyd Edmunds that have left our employment.
https://www.alienmetals.uk/wp-content/uploads/Alien-Metals-Presentation-June-2022-PDF.pdf
Https://ablis.business.gov.au/service/wa/mining-licence-offshore-minerals-/17029
Mining rights and application.
Eligibility requirements
To be eligible for this licence you must:
ensure you and your employees who will likely be involved in your intended activities hold relevant technical qualifications
have sufficient technical advice and financial resources.
For these reasons i believe UFO will seek a joint venture JV with sufficuent financial backing to present to the Department of Mines as a pre-requisite to obtaining licences at Hancòck, Munni-Munni and Elizabeth Hill.
Lack of sufficient finance and JV backing could imo be what has been holding us back. I am assuming (had assumed) that one of the majors in the region or Anglo American is still willing to back Alien Metals. There are dozens of operators with smelting process plants in W.Australia as a potential JV. Fortescue, Bhp, Rio Tinto had in the past shown interest especially after EH closed in 2000 due to collapsing silver prices.
Why don't you have a read of the RNS's...........then you will understand your attempted FUD is so a pathetic I feel sorry for your level of intellect.
Someone did say something yesterday about EH being a duster or something like that. Cores so poor they couldn't be tested. That worried me. Was it in an RNS I missed?
Thanks
"With #Gold at all-time highs, #Silver is just following the roadmap (as it should)."
https://twitter.com/NorthstarCharts/status/1773345185147081132