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Good post Max111.

"WCE alone implied value to UFO is now £22M (UFO whole market cap is only £15M).

So that's a minimum of 0.19p even without Munni Munni. There's some serious catching up to do here.

I don't agree with the 'given both products away' argument, though I am not a long-term holder here. Shareholders are better off with 30% of something than 100% of nothing. UFO have held both of these assets since acquisition and done nothing with either but now, all of a sudden, there are 2 extensive drill campaigns underway and both are planned to result in new or updated MRE's, which should in turn see a much higher share price and m/cap.

I think that around 0.50p and a £50M+ m/cap is very possible here and that is just for the silver prospect. A MRE at Munni Munni could arguably see double that so there is plenty to look forward to in the near term but I do just wish that the management had held back with the placing and got it off at twice the price.

At the end of August when the assays were released the spot price of silver was around USD39/oz. Today it is over USD70/oz.

Oh well, at least we all have a nice big rise to look forward to here in the new year.

The share price here is miles adrift. It should be around 0.20p just to keep up with WCE after their latest placing and on top of that there is a huge drill in progress at Munni Munni. That stupid placing at 0.09p has dragged this down. WCE waited for the share price to rise back up before announcing their placing, whereas the UFO management just rushed in to get theirs done at any old price.

Lets hope this recovers as the assays are released in the New Year.

ATB

Oh, this is going to be transformational as soon as the full funding for Hussar is agreed. And, no doubt, the off-takers/JV partners will want to get this drilled asap so they can get their greedy mits on all of the helium and hydrogen, so spudding could be quite quick after the deal is signed. And even if GEX parts with up to 50% of the prospective resource the numbers are still huge. Plus Mt Winter has a prospective resource of over 100Bcf's as well. Come on Georgina, get it done.

I cannot believe that these two clowns - Hamilton and Wallace that is - are making such hard work of the rather simple decision to let the off-takers fund the Hussar re-entry/extended drill. It's a complete no-brainer, especially as the off-takers appear to have proposed this in the first place and taking into account that GEX, having ended up on the wrong market for placings (AIM would have been a better option not the Main Market), haven't got a pot to p*ss in. There is no alternative, or certainly not a better one, than to let these very eager off-takers fund the initial and very important first drill.

The only conditions, as far as I can see, are for GEX to keep at least 50% of the ownership and to remain as operators so this will not need further approval from DMPE. Also, considering that the off-takers will have control and I assume 100% ownership from the well-head onwards, it would be beneficial and sensible for GEX to keep control and operatorship of the initial stages up to off-take. Will the GEX management please say "Yes, please" and get the deal signed.

As soon as the deal is agreed and pre-drill work commences and the rig is mobilised to site, there is guaranteed to be a massive rise in the share price and m/cap as this is a very big prospective resource and, as was seen when HE1 started their drill campaign in Tanzania, the bigger the prospect the higher the share price and m/cap.

QHE, previously Mosman, have a current m/cap of nearly 4 times that of GEX but with a prospective resource of only 1 Bcf of Helium it is never going to reach the highs of the bigger players. HEX, if I remember correctly, had a pre-drill resource of 3.8 Bcf's - quite a lot but not a huge amount. HE1 was around 100 Bcf's, hence the large pre-drill valuation, while GEX top the list at the moment with Hussar having an unrisked 2U Prospective (Recoverable) Resource of c.196 Bcf's of helium and that is why this will absolutely soar as soon as GEX can get the full funding for the Hussar drill.

By the way, with no further dilution pre-drill, a £50/£60 m/cap would give a share price of 40p/50p and that would still be a discount to the HE1 pre-drill m/cap (which peaked at £144M) and yet GEX are operating in a much better environment than HE1. Blimey, HE1 even had to buy a rig as there just weren't any suitable ones available without shipping one all the way from the UK. Australia is a booming commodity marketplacet and everything is in place already, hence why GEX have off-takers fighting for the chance to cash in on this opportunity - that is as long as GEX can arrange the funding for the first drill.

Come on management, please get this deal signed.

I see that the share price has been rising since July 31, when the farm-out was first announced, leaving this as a typical "sell on news" share for the LTHs to profit from, but leaving little more to be gained. Plus if the valuations on here are correct then there is little more to be had anyway. Just a danger of being spiked!!!

I have just read through the JV agreement between UFO and WCE and it looks to me as though WCE are committed to fund all costs through to a Decision to Mine and there is no limit to the amount they may spend. WCE have already raised A$3M in May 2025 followed by another A$6M in July plus cash from warrants being exercised, but it looks as though with the highly successful drilling so far plus the rising price of silver they are prepared to spend more quickly. This increased drilling can only be good for UFO and should more than offset the dilution to UFO's holding in WCE.

The UFO share price managed to keep up with the WCE share price rise in August when the outstanding drill results were announced and it would be nice if it could keep up with WCE now as the second set of assays start to be released. There is 100% upside due at the moment, and that is without even factoring in any upside for the Munni Munni drill campaign.

The recent placing has slowed this down a lot. Just to keep up with WCE and to reflect the December increase in the price of silver, UFO would be trading at around 0.30p at the moment. Let's hope that it soon catches back up.

On top of that, GreenTech has shot up from their recent placing at AUD0.055 to fund the Munni Munni drill campaign, with the prices of the PGE metals rising almost as fast as silver, and that is now 2.5 times higher at AUD0.135, so there is catching up to do there for UFO as well.

I think that 0.5p should be a reasonable target in the next couple of months - 5 times the recent placing price and a m/cap of just over £50M.

Oops, that posted itself before I had finished. I'll try again.

Yes, WCE and GRE should continue to rise strongly and it won't be long before the UFO recent placing is forgotten about and it will also start to rise strongly. WCE is already roughly at the same high as at the end of August when the previous assays were released but then the spot price of silver was about $40 and today it is $77. Also GRE rose hugely a couple of nights ago in response to the continued rise in the prices of the PGE metals with Palladium continuing up another 13% today and Platinum rising another 8.5%. The August high of 0.028p should be the first target for UFO but I'm thinking that this should do much more now the Munni-Munni drill is underway.

Yes, WCE and GRE should continue to rise strongly and it won't be long before the qUFO

The less the UFO management does now the better. The stupid discounted placing is out of the way and they can leave the rest to WCE and GRE. They will do all the drilling and release the assays followed by 2 X updated MRE's and the share prices of all 3 should be multiples of where they are today.

All the best and a Happy Xmas.

Bloody marvellous. I wish this was up 40% but 12% will do for now.

The game here is not to let the abysmal management ruin the chance of a nice profit on a large potential rise on a share that has been inactive for a long time but is suddenly having a resurgence. Without the ill-timed, bucket-shop placing, the UFO share price would undoubtedly be keeping up with the recent WCE rise and be somewhere around the 0.20p to 0.30p range. Then adding in the GRE rise it could be considerably higher again.

As I said earlier or yesterday, GRE did an even larger placing to fund the Munni-Munni drill campaign but that was not sold off and the share price never went down to anywhere near the placing price of A$0.055 and currently is more than double the placing price. It's only a matter of time before the UFO share price gets over the discounted placing and starts to re-rate to the WCE and GRE levels.

Let's face it, the UFO management are garbage (like the management of pretty much all of the AIM and LSE listed companies and I could name lots which are suffering low share prices over just that). The placing was unexpected, pretty much unnecessary, at far too low a price and badly timed. Without the silly placing, the UFO share price would no doubt be keeping up with the WCE recent rise and would be somewhere near 0.30p and then with the Munni Munni drilling and GRE super rise on top, it could easily be double that again.

It's not the time to panic. The rises would be happening on the strength of the high-grade prospects even if the spot prices of Silver, Platinum, Palladium, Gold and Copper weren't all undergoing a meteoric re-rate to all-time highs. The UFO share price will re-rate as soon as the stupid placing shares are dumped and I'm sure it will soon be catching up with both WCE and GRE for a combined super rise. Then we will all be very happy.

By the way, a 2020-style super rise is still very much on the cards here. Maybe not to 3p but certainly 1p is a possibility over the next few months.

ATB

I think that you are expecting too much, you total idiot. I'm just expecting West Coast Silver (WCE), GreenTech Metals (GRE) and Alien Metals (UFO) to all 10-bag in the next few months as the drill results come through.

Looks like the ASX closed early for Xmas with GRE up 64.6% at A$0.12.

Ha, ha, ha - GreenTech Metals currently up 64.6% at A$0.12 and was as high as A$0.14 earlier and has even had an ASX price query to which they replied that the rise was most likely in response to the commencement of drilling at Munni Munni as well as the continued rise of the spot prices of the PGE Metals.

Good stuff.