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58%just today, in last month 5c,10c,16c..something very big is up. And if it isn't alien, then alien are just down the road in the strike line and errawarra think we are so great they want to give alien millions to explore our land
Looking that way monochrome 🙏🏻
Onwards and upwards space cadets
Lyndon
Surely next 6 months we should see some movement patients the key
Mono what we looking at 3-4 weeks for soil and rock chip samples to come back from the labs
I think they doing their magnetic scans/surveys are they not as well as rick chips
Reading between the lines, Erawarra seem to have had geological 'boots on the ground', for quite a while.
As a proportion of their cash, the UFO deal is a massive risk.
Or...... Was it a sound calculation based on first hand information ??
Cj my take is such a small company doesn't take this risk without really being sure and having already inspected in person which good for UFO but why I think 50% was too much and perhaps a dodgy Richard deal between 2 companies he's involved in but that's me speculating
ERW had over a year and couldn't find any rock samples over 1% on their own ground.
They send their team to Pinderi Hills, identify the pegmatite swarm and their SP starts to rocket.
They need to spend A$1M to earn 25% of the lithium rights at Pinderi Hills.
Then need to spend additional A$2.5M within 36 months to earn a further 25%.
IMO, now that the AZS takeover has been completed, M&A across the Karratha lithium belt would have happened before they can earn 50% of the lithium rights.
But if they manage to spend A$3.5M on Pinderi Hills before M&A kicks in, then the re-rate on our lithium (currently UFO have zero lithium resource) would be significantly higher than giving up 50%.
I personally think they re tested the cores and know its good out there
Onwards and upwards 🚀
Not too sure any drilling has already taken place.
Has native title and DMIRS approved a drill campain?
Im sure they have it for their ground and we clearly had it for the other metals so im not 100% but i prosume so
"We believe that we may have only hit the tip of the iceberg
with these lithium fertile zones within the pegmatite packages and with their shallow dips we have
the opportunity to explore for higher grades down dip. Being along strike and in proximity to the
Raiden lithium pegmatites we are optimistic of our chances and keen to do some exploratory drilling."
"keen to do some exploratory drilling"
Asking myself why I didn't buy some ewr as a hedge here... doubled my money this week...
It is definitely starting to come together
With the cost of the two new hires (consultant and general manager) running to thousands per day, UFO must be confident that news and cash is near
Huge advantage with Pinderi Hills is that Munni Munni has had $20M spent on it developing the in situ US$2.8bn PGM & Gold resource (open at depth & along strike) with loads of drill core sitting there:
https://www.alienmetals.uk/wp-content/uploads/munni-munni-7-724x1024.jpg
On the corp presentation they said they will re-assay existing core for lithium (never assayed for it before) in Q1/Q2. So this is due (if hasn't been done already).
"Re-assaying of core for Lithium and Tantalum, is a cheap and effective method to determine the potential for Lithium."
I know I am perhaps a little to enthusiastic about UFO.
But.... I get the feeling things are about to explode here. ( Chris2 look away now)
I think a 100% re rate upwards is coming over the next week or two.
My brother who lives in australia just got a 100% move with results last night
Australian Gold and Copper Ltd
ASX: AGC
So many catalysts for UFO now. Hard to just focus on 1!
Deramper trolls going to have a very tough year ahead :)
Ag on the move.
Yes could be a false move until the usa cpi is released and they sweep up
So the key thing I think we "UFO" would look out for is a continuation of similar mineralisation to that of ARV - tenement E47/1746 which starts a few Km north of where Errawarra are checking for Li on our Tenement..
the keyword i will be searching for in any Errawarra update is "Spodumene".. this would mean potentially that the Andover discovery to the North East and the ARV are all similar structures..
https://artemisresources.com.au/artemis-resources-discovers-hard-rock-lithium-at-mt-marie-in-was-west-pilbara/
If they are then "bingo"
Not good enough to chip away and sample what's on the surface, need to get drilling. Promised and not started, for ARV & GRE. ERW etc. are 12/18 months behind Andover find ( already sold ) , we are 2 years behind them. On the plus side, the Li price may have recovered by then.
Should have added, I am invested in ARV, presume @ Lile is too.
Bids closed to .17-.18 next leg up coming i think
They are going to be digging our land and in the last 5 days they are 250% up (42% up today) I hope we see that soon.