The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Thanks petej247 :)
Tarquin...
"Upon execution of the Agreement, a one-off payment of A$500,000 to Alien by way of a subscription for 130,000,000 new Common Shares at a price of 0.2p (the "Subscription Shares"), being the VWAP over the ten trading days prior to the date of the Agreement (the "Subscription").
The proceeds of the Subscription will be applied to general working capital purposes."
I feel like I have read something wrong after what some of you have wrote. I was on the understanding that the $500,000 was paid to UFO by share of Errawarra (the company) but by what some have wrote it sounds like you think we are getting the $500,000 by then buying UFO shares?
Excellent RNS, the first of many.
A big shout out to the resident dullards (trolls, clergy etc. for enabling me to get my average significantly lower than today's price. Now you can f. off.
ATB LTH's
Yeah on the face of it .. its right.. weve not given anything away.. we were never going to get around to exploring it anyway lets be honest.. but if they find a tonne of Li over there.. then they pay to develop it whilst we pocket 50% of it..
Clearly Hanc0ck is our primary focus.. I would lke to see a few more of these come in for the other areas.. EH etc..
If it's lithium only, then it's not so bad, but the ASX RNS doesn't state lithium only; from what I can see, it references the hills as a whole tenant, so it's a little confusing. You would have to trust and go off the LSE RNS, though.
happy with that. some cash in the bank for opex at han**** and some big investment from keen partner in a site we don't have time / resources to go and dig around quite yet.
50% of something is better than 100% of sweet fa, especially while we are busy opening a 10year 2mtpa mine.
atb pj
Shorters just soiled their pants after reading the UFO RNS. LOL
Looks like a good deal to me. Get somebody else to find out if there's lithium and get a bit of cash while they are doing it. If there is commercial amounts of lithium UFO is in the money.
@Nap yeah i remember talk of the re-test.. I dont think they ever published the results ? i could be wrong ? i reckon Lithium discovery would have been a big deal for UFO..
Funny old bit of trading in the last hour.. a load of sells prior to the news.. i have to laugh how we all find out about the deal before they publish the RNS..
Who ever also said 0.14 this week also nailed it.
Wednesday meeting at Aus Embassy now looks very interesting
I think given our position and that it is restricted to Li. it's a good deal.
Exactly
So mining license quickly followed up by 1 of probably many JVs. Great!
They know lithium exists they retested the cores
Seems like a decent deal from my pov.. we dont even know if Lithium exists at Pinderi and we are not paying a bean to find out ..
+ its only for Lithium.. so if its a duster then no skin off our nose.. Errwarra will just have bought $500Ks worth of UFO stock at a premium.. lol..
UFO spreading the sh*t far and wide lol...
As for people saying about where is the RNS for us, as I wrote this now as we likely said that we would release the news after them, they release the news at 11:19pm here last night I dare say no one was working on a RNS then lol
And let's not forget they are subscribing at 0.2p, so a premium to the current sp.
Will the MMs move the sp up accordingly, they would move it down if it was a discounted placing.
Somehow I doubt it...
Lithium only
0.2 first cash strike price
again - all seems sensible
Would be great to piggy back their samples with testing funded by UFO for other stuff. Only have to cover cost of labs for Ag, Au, Ni etc…
I'm happy with that RNS at first read.
We get money into the business, reducing the need to rely on slimy Rich.
We let somebody else take the exploration risk whilst we continue to focus on our own near term strategy
I'm sure chris2 will be along shortly or the Bish....
100% Naps.
Lithium rights only!
LITHIUM RIGHTS!!!!!
Rns out read it slowly
Yep lithium only, and also means they dont need to activate the other funding facility. Good business no matter what any one says
Seems like free money to me for a small part of it plus the money to dig ourselves if no good JV for big projects