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Wentsland, if it was that simple we would already be at 10p. The point is, it is possible and Bill is building a team that might just be able to deliver it. Happy to see the steady 10% daily gains here. Hopefully the traders' sells are getting bought by stickier hands and we'll continue on this trajectory for some time to come. Never managed to get my top up. Oh well
1.06
dickie the problem with the nugget story is they don't actually contribute much in terms of $$ they are cool and impressive perhaps from a geology point of view but as an investor I don't care . What we need is a large area with average high grades this is all that matters to be economically one would think
I said earlier that i don't like price predictions However, it really does look as though we will be over 2p very VERY soon. Playing catch up to get back to a realistic level of around 40% of year highs. That is not too much to expect, seeing as it won't be anything new?
And this again.....
The Elizabeth Hill Mine was small enough to see value in providing specimens, and in 1999 an Australian dealer was able to access the site.
The dealer described lumps of pure silver masses up to 40kg in the ore dump, and the mine reported masses to 100kg. He noted also silver wires in the underground workings. The dealer was able to collect undamaged specimens to 11 kg. He also noted vanadanite, chalcanthite, galena, and unidentified silver halides on the ore stockpile. A few hundred silver specimens were collected and many of these are now in circulation. There were also a few specimens of red prismatic vanadinite crystals up to 3.5 mms long on calcite, as well as specimens of chlorargyrite micro-crystals placed on the Australian market at this time. Little else is believed to be in the collector market, although the deposit would have readily provided other species, had the opportunity existed.
Elizabeth Hill Karratha
History
The nuggets discovered at EH are absolutely huge . Pictures
https://www.mindat.org/loc-212254.html
DRB83
Like your thinking. You just outlined our dream scenario. Everything is possible though.
8. Not rampy if it all comes around...
9. Well maybe it is a bit....
Lol
If only it was that simple,DRD83
Mmmmmmmm
Why should we let someone else have what we have when its potentially worth billions. We don't need them in my opinion.
Step 1. Raise $30m and start producing at Han****.
Step 2. Use the $2m per month cash from Han**** to speed up drilling on Brockman
Step3. Obtain MRE on Brockman, initially it may be 20-30mt to get started
Step 4. Start production in Brockman, at same time Han**** will now be producing $4m per month. Brockman is 10 times bigger let's assume LOM is twice as long as Han**** meaning Brockman can produce 5 times what Han**** can so $20m per month. So $24m per month in Hamersley. This will last us 10+ years.
Step 5. Dividends + invest into exploration arm of business (no more placings, no debts just huge dividends)
Step 6. Bring EH, Munni Munni, 3 Mexico projects and Greenland online
Step 7. Bring in new exploration projects
Step 8, even bigger dividends
Like I said, no need to give any of our projects away. We could be set for life. All imo.
Sounds a bit rampy. Sorry
Smiller,
I would be looking for 30p exit price but got a strong feeling UFO would be taken over before that by one of the 3 majors surrounding us...FMG, RIO or BHP.
I will go with the flow and re-assess things by end of 2022 unless UFO is taken over before that.
2022 could see an aggressive rally here as market plays catch up. Fundamentals here been strong all along and projects now more advanced.
I did say lets daydream for a laugh. ... but its not impossible. sometime way in future.
Lol isn't a unicorn share 64x
So smillers forecast for surpasses that...so what do we call his forecast alien-unicorn.
@smiller
Let's not get too excited. I'd take 20p.
May I suggest “MULTI Billion dollar company” which could very well be realistic :-)
yeah I think people starting to realize how big DSO can change a company . Lets day dream for a second and say there is 200mt between hann**** and Brockman which isn't crazy most people feel there could be 50mt in hann**** and 150Mt at Brockman is middle range , 200Mt x $60 = $12Bill profit over X years. £8.7 Bill approx , = ~£2.5 Share price.
Billion dollar company (it has a nice sound to that)
winners , its hard to see downside here, the only thing I think could happen is if the market crashes/recession type situation in which all stocks drop but then id expect the miners/silver/gold etc to rebound very fast. I am thinking of keeping some money aside for this potential situation to get bargain price. But really I mean this is the going to be the core share in my retirement fund that I leave for 10 years , going to keep buying until SP >avg . Then move onto looking at some Uranium stocks ..
Bills said from the start that he could see us growing into a mid-tier producer along the way and this is what he has been working on, just a little patience is needed while we upgrade from inferred to indicated and so on whilst increasing our resource. With only 10% of Han**** explored and "virgin" ground still left to drill I'm pretty confident that every RNS from here will further justify our climb up to 3p and much further.
The market has reacted positively because we now have a proven plan to monetise this resource as bill said has been tried and tested and is hugely profitable with relatively small costs so there is very little downside IMO
https://mrmr.cim.org/media/1128/cim-definition-standards_2014.pdf
some good info on mineral classification here from Page 4 onwards.
Guys its been pretty rapid pace at UFO well done to the patient investor
It’s quite exceptional : drilling in less than 12 months and convert drilling to a JORC resource and now a Scoping Study! You dont see this often. Also This is iron ore - much simpler to make money from bulk commodities dig and ship (no processing/ no met issues) versus gold/ copper /nickel just google FSTE 100 - top companies are miners and 90% of profits come from guess what ? Fe
Let’s not get to distracted its pretty simple:
Top team in place including ex Fortescue (FMG) engineers (little iron ore co that was worth nothing now $20b!)
Revenue $120 (DSO 62% Fe)
Cost < $60/t
profit = $60/t
Production 1.25m
total profit $75m Per Annum
Mine Life 10 years (initially!!)
Not drilled 9km ridges
Not drilled Brockman (ex BHP prospects)
Assume Fe price of US $100/t then profit will be $50m
Call it $50m x 10 less bugger all capex = $500m net cash flow
Lowest Risk mining jurisdiction in the world
No.1 premier iron ore country (neighbours are blue chip majors)
Pls discount above how you want but….
Then Add UPSIDE to resource - its not 10mt but maybe x 5 or more this size
ADD Brockman ( ex BHP prospects staked by majors but missed out to UFO - this could be 2nd company maker or project)
Ooops forgot Eliz Hill ? highest grade silver mine in Aus with 1% Silver grades and pure silver nuggets?? Plus 110km2 of PGM / mafic zone in archaean rock exploration licences - discovery potential (high)
Do the maths looking at 4-5p - Wont be overnight but instos and funds will be buying this soon
MP what's your retirement price , I often find it interesting peoples exits strategies . I find exits are far harder than entries to decide. What's your reasoning for picking a price ? I think for me it would be illogical to sell before Brockman is worked up . Its very likely that Brockman will be drilled and if its as big as indicted 100-250mt at 65% then probably we would get a good offer from BHP . For me I will wait till this occurs regardless of the SP .
I can see this hitting 1.10 or higher tomorrow.
Problem is market does not wait for anyone. I been buying from 0.72 upwards including today at 1.00 and averaged up a bit. Wish i had free cash around 0.72 to grab 5m of these in one scoop. So been nibbling along the way. This little gem of a multi-bagger is my retirement payout. Have an exit price in mind and stick with it.
Some of you probably sitting on lower averages,while others might still need to breakeven. But it would be well worth it in the end in my view.
Mind boggles to think Hanc0ck is just around 1/10 the size of Brockman deposit.
winners paid , never , I am a mild ramper lol . Very confident about BBG. I remember a year ago a lot of people where giving him crap and saying he wasn't the man for the job. There was a few here like me that didn't care about his presentation skills and lack of business experience as long as he was a good geologist . I think since then we have seen his presentation skills massively improve and shown that he will just bring in the right people to fill gaps of experience. Good team he's is building 2022 will be exciting
Smiller don't start deramping now will you hahaha
Very nice close to start the week off. Like some have mentioned here almost bittersweet as I am happy to see UFO heading north but I was hoping to get another 2M next month and avg down a bit. Folk getting in now at 1p great price. Jealous.
It feels the word is spreading more and we seeing more PR/articles and members comment here . Lots of references to the start of GGP. I think we will settle around 1.2 this or next week then go sideways until news on EH comes out or Phase 3 drill results . I would have thought before any Major comes a calling they will want to see some more results from Hann**** , get into the 30-40Mt area then its game on for bidding war