Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Morning Aliens - Starbright - Good luck on your profit but am holding firm live or let die my gut is always right 3p + not to say a few up 1.30 back down
Sad you've left us starbright all the best , im sure we will meet again on another lse board :) take care
OK hope you come back starbright but each to their own. I don't get the impression BBG is dirty and I genuinely believe he's doing what he can to drive up SP all above board. I have no evidence to back that other than listening to him speak for a year and what he is doing/planning at the moment with Han****
It's interesting that you suggest contacting the company directly or via its advisers. My experience of this has been poor. Twice I have put questions to the company and its advisers that could have been answered without risk in terms of disclosure obligations. Twice I have been unable to secure a constructive/thoughtful response despite chasing.
In the second instance I asked questions about the potential related party transactions that have been discussed on this board and elsewhere. Alien is engaged in material transactions with entities (Wombat/Sorrento/Windfield etc) with strong historic linkages to its current directors via ownership and/or employment. When Alien acquired the rights to EH, how/why/were the potentially valuable rights to the tailings acquired instead by companies apparently then owned by Alien's current chairman? Why (and on what terms?) were Windfield's UFO shares transferred to Bennelong, a company that shares infrastructure with Sorrento Resources for whom BBG worked as Technical Director and Mark Culbert is listed as a director? Whilst it is entirely possible that there are legitimate explanations for these linkages, no such explanations have been offered. As an investor I have zero tolerance for opacity or defensiveness where potential conflicts of interest are concerned. I sold out of my accumulated UFO position a couple of weeks ago as a result. The trade(s) through which I exited were commented upon on this board.
The concept of UFO as a "multi-asset explorer" is strong. I hope that the company can deliver on one or more of its initiatives. I may yet regret my decision to exit.
I think its 'clear' by the SP which has stayed 'low' and went down further despite the good hand held assays.
The more false dawns, the more excuses made, the more targets missed and ofc the more talk of possible fundraisings- means that we will need bigger and bigger news to head northwards. The good sentiment has gone now. Started with the last placing and never recovered. It hasnt progressed as the multi-asset explorer it marketed itself us which makes the mcap harder and harder to justfiy.
In Kodal right now, the CEO could announce what he had for dinner and the price would soar. Even during the Mali coup the SP rebounded after a fall. Thats a guy who could turn an unpopular placing into real progress- something that BBG has been not able to do it. As a CTO he is probably good at what he does, as a CEO, he is out of his depth.
Its going to take a big move in Mexico or EHs or a JV for the DSO to get us even back to 1.5 which is just above my average.
If any of you decide to be proactive and email anyone- feel free to put responses here so we can keep it all in one place. I tend to log on only once or twice a month.
@stevomining "It is clear the market has lost faith in BBG to get things done. As I mentioned before, a lot of this is not his fault."
You say it is clear, but I would counter and say that is an unprovable statement. The data shows both the daily volume and the share price of UFO has stumbled since the spike which we can attribute to greater selling pressure than buying pressure, but it is mere speculation as to the motives for that action as markets do not require people to submit reasons for their investment decisions. Before attributing anything to the company, let alone a single aspect of the company such as its CEO it is always worth looking at the wider market to see how comparable industries are doing.
As you yourself mentioned, there are many juniors in the mining/exploration space who spiked last Autumn, many of whom are now down a significant amount since then. (arguably those with the greatest potential to cause a spike on excitement?)
Companies like GGP, OMI and ECR to name just three have seen large price drops and nobody would suggest a loss of faith in Bill Brody Good would affect these companies he has no connection with.
I am not saying your opinion is wrong as I have no evidence to back up a counter claim, only that it is wrong to express as fact an opinion you yourself cannot support with evidence. To me the more plausible explanation is simply sentiment has gone from this sector for time being, or if not gone the dropped back to a more usual level.
I hate news reporters who stand out side closed buildings to tell us what happened there earlier.
Mexican food is not good when it's gone cold.
wishbone omg now youre infesting this board, wishbone have justified nothing, go on give me a drill result from wishbone
While we're all getting things off our chest......
I hate it when people don't use the lanes correctly on roundabouts - I mean come on now - its not rocket science ?!
And 5x5 - come on mate, don't deny us all a few Enchiladas :-)
Good you got all that off your chest!
Speaking for myself, the board is a bit of fun & some info. Expect the Fe to be sold to pay for EH. Not interested in Mexico.
Even I would have never imagine that we would be languishing at this SP at this stage. Not even my worse predictions.
We need
1) JV/sale or whatever of the DSO
OR
2) A **major** move in the other concessions- ie actual drilling in EH or Mexico (just trenching in EH or permits in Mexico wont be enough)
3) A maiden JORC resource will *MAYBE* get back to the 1.3-1.7 level we languished at for so long. But dont expect any baggers till we get something BIG. Due to the delays and lack of progress till date, the market will demand more and more from UFO before the SP moves up. This is what happens when confidence and trust is eroded by the CEO. The market becomes progressively 'immune' to good news because of previous actions [or lack thereof].
There are a whole host of AIM miners whose prices went up way before their times, last summer. Some have been able to progress and justify their inflated mcaps eg Wishbone. Others- UFO being one of them- have not. Remember BBG has no experience in a similar role before- he is more of a technical guy with little 'business' experience that they have dual functioning. Going back to the drilling- its not just the cost of the drill- its the amount of time that BBG needs, as the CTO, to look at the technicals and interpret them and plan the next move. Its a very slim operation they run and BBG is only one person. I think we were naive that this could be done across several sites at one time by a company as small as UFO. I do feel sorry for him as its clear the inflated price reached in summer has put him under extreme pressure.
From the above, you can tell that they REALLY do read emails and they CLEARLY do act on them. I am sure, like many AIM companies, they do read LSE but nothing beats direct contact. Time to be proactive and start researching and emailing, stop taking everything BBG tells you at face value. I cant do it all myself and my job is superbusy right now but would be interesting if anyone could do some research on how difficult it is to find a drill in Western Oz right now (the excuse for not drilling EH). Remember- people mislead lifelong friends, closefamily and spouses every day- as such, only an idiot (you know who you are) would put so much faith and trust in some random guy they have never met before. You would find such proactive action so much productive than being on here arguing and speculating- this BB reminds me of a quote from Macbeth soliloquy - “full of sound and fury, signifying nothing”.
Email to Joe Burgess 04/05/20210 @1952 regarding 1 or 2 weeks prior, BBG had mentioned in sharetalk interview that they had seen the initial results for the DSO.
Subject: FCA complaint
I have now lodged a formal complaint about UFO with the FCA in regards to the release of market-sensitive data and am waiting for a follow up email.
It was always going to be a last result but as it is now already May, I feel that there was no other option.
Regards
xxxxxx xxxxxxx
Note that, I sent this email @19:52 so they would have not read it till the 05/05/21….06/05/2021 there was an RNS with the initial assays. Coincidence?
Feel free to email Joe Burgess about any of this joe@yellowjerseypr.com
3) Email to Joe Burgess about the lack of updates in UFO dated 19/03/21:
Dear Sir/Madam,
I have been a shareholder of Alien Metals for the last 7 months.
1) it is disappointing to have, prior to buying in, been misled last year that the company was 'fully funded' before being hit with a surprise placing, from which the SP has never recovered. It is further disappointing that it was claimed, at the time, that the purpose of the placing was to accelerate drilling of the DSO deposits in Australia. We were told that the assays would be back end of February so they are already 1 month late. Other juniors which were drilling deeper holes in Australia at the same time have already completed their testing with assays so there needs to be an explanation for this unusual delay
2) Regarding Mexico- we were again, misled in November, that the permit was due 'any day now'. It is now March. My contacts in Mexico, while not given me specifics, tell me that there are no significant delays that could explain why there is no permit given yet. I think in the interest of transparency, it would be better if Aliens give us an RNS detailing exactly what is causing this exceptional delay and where exactly we are. I do think UFO are being very economically by giving the impression that it is just a matter of waiting for a permit applied for a long time ago.
3) Lastly, as long as I have been a stock holder, there are too many 'no news' RNS which seem to supress the price as it is seen by investors as a substitute for any meaningful progress. For example, is an RNS really necessary to announce attendance at some virtual event? Most investors will see that as a distraction from the absence of news that would increase the SP.
I was disappointed I did not get a reply last time I emailed you and while I appreciate that you are busy, I feel with the SP drifting further, these issues need to be addressed urgently with a series of clear, transparent RNS in the next week or two.
Regards
xxxxxxxxxxx
Regards
3 days after they released an RNS which gave a comprehensive update on the [lack of] progress and the price tumbled.
Ive been busy so didnt have a chance to reply to the responses to my last rant though read a few. I am sharing the following:
1) eduardo.floresmagon@economia.gob.mx
Director of Mines in Mexico
2) contacto.ciudadano@economia.gob.mx
This is the general portal for the Mexican government who will show you the relevant people to talk to for whatever question you have regarding permits etc
Note how quick they both reply to- quite quick considering the “government shutdown” BBG has been claiming.
Private investors would get more value for their time doing research and relaying concerns and frustrations to the management rather than posting youtube videos about metal futures, repeatedly making predictions which are invariably wrong and making inane “back of a fag packet” calculations.
I *was* going to post this yesterday but didn’t want to throw a dampener on things after the RNS which I actually thought would have boosted us towards 1 again. It is clear the market has lost faith in BBG to get things done. As I mentioned before, a lot of this is not his fault. The SP had “no right” being at 1.5 (and even higher) last autumn for the early stage they were at. If all their concessions were being developed then 1.5 would have been just about a reasonable price. UFO was sold and marketed as being a “multi asset” explorer. Personally, I would have never invested solely based on the DSO. Far too expensive a mcap when they hadnt even started drilling at that point. I have triple bagged in Kodal in the last few months and their mcap is still less than UFO was during its peak, and they have actually drilling and results coming in across multiple concessions...in comparison, UFO at that mcap was just a concept.
Donovan ended up being a failure. Our Mexican concessions still hiding behind COVID delays(even though the Mexican government has been fully functioning throughout), Lizzy Hills, claiming cant find a drill, cant even do the tailings side project- How long ago did we get the POW for this site? The ONE project that is progressing is the DSO, and even this is way behind schedule.
There was one sensible poster here some time ago, Star something or other, he said he doesn’t see any significant rise in the SP till a JV/sale etc of the DSO. This is proving to be true. Though I do think if we started drilling in Mexico or EH that would boost our price again. The market looks at BBGs record of not getting things done so it will require more and more to shift the SP.
Also, another reason the SP did not shoot up: The mention of further drilling for the Western Ridges, and [expensive] diamond drilling. I think BBG has already been warming us up for further placings- making it the second time he would have misled us. I honestly think we will crash down to 0.5-0.6 if this happens and we MUST all make it very clear to BBG that we will not tolerate this. (see below for details of how to contact UFO)
I think its reasonable to say that the supposed money we have stashed away for Mexico should be used instead of further share dilution. That is “if” that money really exists. What the market likes is clarity, and a clear RNS saying that we are now focusing on DSO and putting others on hold may actually benefit the SP, rather than making excuses about permits due to non-existent government shutdowns or not being able to find a drill etc. Anyone who believes any of these excuses deserves everything they get.