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CJ, but equally it would not have been a surprise for the applicants that the licence was to be added to the system some days beforehand. These things are procedural, and providing the procedures have been followed and qualification for the licence has been met, its largely a no-brainer.
I wonder if the CEO is a distraction. How about a JV with a partner, using an experienced Project Director - this keeps costs down and delivers the ore from the ground? Financial reporting is relatively straight forward, and from what I understand the current team have enough knowledge / resources on tap to handle this. JV may mean a simple royalty payment to IOCA for every ton shifted by the partner, Alien does not necessarily have to have the overheads.
@ MyIPA
" what happened with the mining license last week if, as we think and as is usually the case, the company knew about it for some time before it was publically updated "
That is a very strong accusation of misconduct. The DMIRS website was updated on17 April midnight Wednesday
The RNS was out intraday Friday 19 April.
Yeah I think the elephant in the room is the lack of a CEO and as yet no concrete information as to when that will be solved. This could also have been what happened with the mining license last week if, as we think and as is usually the case, the company knew about it for some time before it was publically updated in the register that the delay could have been caused by no direct leadership in RNSing the information.
It takes what 6 months for a CEO search usually? So we may not be having one until June/July. Perhaps the two are connected. Anyone have any ideas on progress on this?
So thinking of it that way, why would they be relucant to RNS it? is it because of no clear leadership? Is it because of a JV that is in it's final stages (yet without a leadership how will this get across the line/a new CEO may not fully like the terms).
I'd actually rather get the CEO recruitment done first, cj. Not only would there be someone in post to drive the negotiations with AA, or any other prospective partner(s) forward, but we also fundamentally require someone to drive things forward from there. OK, non-execs are capable of conducting negotiations, but they are not going to have the time or capacity to oversee the building of roads and all the myriad of other practical tasks.
Devil
I hope a confirmation of the AA joint venture.
This could/should give UFO a sound basis for a competitive bank loan to fund Hanc--k development
In truth, no one knows. But I can dream??
Whats next on the news agenda chaps?
I don't think their on the ground looking at EH like you said it's been looked at quite a bit. Perhaps they looking for lithium or we have a jv in place and partner wants feet on the ground first
@ Bfdinvestor
"Whole Markets down but o no its just ufo "
New ISA holders.
Welcome to AIM.
You just got played by the big boys.
Uktrader, when did UFO move into the FTSE 100?
As Norm said earlier, nothing useful the Geo's can be doing at EH. Unless they can find the Mother Lode, Lol! New CEO less likely by the day, 4 months and counting. So a JV that doesn't totally screw the PI's is our only hope. While I'm at it, sick the 'true holders' carp from a previously LTH, who fully sold out. Patsy for the gang.. Say what you like, and I do, at least the paid ramper is articulate. As others have said now about 50/50. Good assets, we live in hope, of at least getting our capital back out. GLA, even the Patsy.
Time will tell if this just normal pullback from lows of 0.12 to 0.24 . Hopefully. I'd like to see some media next week either about the geologist on site/ new ceo / or jv partnership
Whole markets not down 16% ?
Didnt FTSE close at new highs /
Flat liners and bird flu are here, sure sign good things to come!
Whole Markets down but o no its just ufo ππππππππ€¦π»
Yayay.
I hope they have done the same courses. This share desperately needs them to show a bit of leadership
C@B, this is something I have said a few times in the past. Back in the Dark Ages, a long, long time before computer modelling of everything, they used to teach on management courses the art of Critical Path Analysis. I have no idea if this concept is still talked of, but basically it means carrying on different aspects of a project contemporaneously, not sequentially.
Its not scientific (so dont hold me to it ) but the volume today was well below that of the previous few trading sessions.. "usually" a pull back on lower volumes is what you would expect during an uptrend.. the opposite on the downtrend.. thats not to say that the price wont just carry on down.. (as it has many times)
To be fair UFO is slowly creeping much closer to mining Hanc0ck.. quite a few of the jigsaw pieces are now in place and the de-risking continues until its either mining or its not.. I suppose the next news we would be interested in will be the financing / offtake agreement and FID as per the current corporate presentation..
We would expect that the funding / offtake and FID by the end of Q2.. then that's it.. the next stage is construction of the mine!!
My best guess is that EH might become a JV if any half decent offer is on the table, this potentially in an effort to try and get the SP higher for funding.. the company is clearly struggling to convince the markets that its a serious proposition.
If Iron Ore holds up at well over $100 then that would also be a big help..
I am assuming (hoping) that ufo haven't been twiddling their thumbs as they waited for the hanc0ck licence. Surely they have the other ducks waiting to join the line. Today's drop hasn't bothered me i hope and believe that by the end of may that we will have a lot more info and the share price will be up nearer the 1p mark.
I agree, norm. A pull back, as you describe it, was not unexpected. What I am hoping we will not see, as I said to cj yesterday, is the all-too-familiar UFO pattern of a spike being followed by 5 or 10 or more consecutive days of red.
Its a pullback.. Silver got hammered today.. but is still $27 per oz.. lets be honest did anyone think it would go over $30 without reply ? the rally ran out of legs twice at $29.. so it will go down and then find some new buyers.. or maybe not ?
this is the nature of price movement.. it might be a good thing if UFO pull back a bit.. as long as the longer term downtrend doesnt persist then its fine..
If the downtrend carries on then "mind the gap" as its going to be brutal.. its a bit of a pain as I need to move some of my holding from one account to another.. i was going to sell this morning but someone beat me to it... grr
Complete AIM muck. Same happened after KNAC. You're all intelligent investment people - I'm an idiot that bought shares. Can anyone tell me how this is happening? I'm assuming not apart from you don't like the board.... FFS!
.08 within a month. Then some news and this will shoot up to 0.2 again before falling off a cliff again.
Rinse and repeat.
The best indicator for an imminent placing is when Max111 says βno placing neededβ.
The second best indicator is a major SP drop.
5x5
You mean bullsht π