Member Info for Barrett

The upside of yesterday's US interest rate announcement was that it was only 0.5%. The last several rises have been 0.75%. The interest rocket is phut phutting, which means the dollar's good days are numbered, at least in the next few years.

Disappointed to see metals drop today.
The US govt now expects interest rates to peak at over 5% next year (before they were thinking the peak would be over 4%). So there's more interest than expected coming next year, that means a stronger dollar today, and everything else sinks . . .
But UFO is holding strong, and it's exactly 4 weeks since the share price hit a low of 0.4p. Looking more and more like this share has bottomed.

Let's see if the US interest rate announcement later today (7pm UK time) has the same effect on stock markets and metals as the last few announcements: everything will drop leading up to the news, then take off firmly upwards straight after.

Silver's got legs, but palladium is a centipede: up 5.4%.

Wow that was quick. Speedy silver at $24/oz. Other precious metals doing very well too.

Looks like it's heading for $24/oz, today if we're lucky.
Best wishes to all Aliens who've had to deal with crappy Covid.

I was born ready Goingtomoon.
I do agree with Bishop's post yesterday: we need slow, sustainable rises. More chance of making money on them in the long run.
GLA.

I remember the spike was around 3p or a little over. I still feel stupid at failing to take some profit on the spike, but I see I'm not the only one . . .
What kept me onboard wasn't silver, it was gold. Covid landed early 2020 and within 6 months, the ancient safe haven gold was looking unstoppable: I stayed onboard thinking gold hadn't finished going up. I still think it has got another surge in store.
I think Aliens should watch both the silver and gold price, because a surge in either one will lift all miners and explorers.

UFO share price holding steady into the weekend.
Silver better than steady, up 2.5%.

I'm watching secretly while doing my office work:
Silver the shiny one has reached $23/oz.
Again!

3 weeks ago today the share price hit the low point of 0.4. Each day above that point adds to the possibility that it has bottomed.

Precious metals in the blue again, silver up 2%.

Silver is picking up. 1.25% up.

That would be a happy new year!

Polinvest, have you read that the mining licences are expected in Q1 2023? So it might not be til March or April that AA can start due diligence?
I think I'll just enjoy the share price and let things take their course. Given dates are only guidelines anyway.

Sounds good nookie. A steady iron ore price would be such a big help leading up to an agreement.
C'mon iron ore.

Thanks cj, so it's permission to mine that UFO needs first.
Fingers crossed.
Glad to hear due diligence is 60 days, I had 3 months in mind by mistake.

It will be good to hear that Anglo American have started "due diligence" (I just looked it up, it means the buyer checking that the seller has been honest about what they're selling).
I think we've been told "4th quarter" to hear that due diligence has begun? Or perhaps no time limit has been put on it?
I'm enjoying every day of this price rise. Go UFO (but not up in a straight line this time! Let's have baby steps that continue for a decade.)

Yes respect to silver for pushing up to $23/oz.
And respect to UFO for ending the week at 0.50p.

Cheers Forrest. Good luck to us all.