Member Info for cjmorley

Interestingly norbi. their website said no approvals/work on permissions until April. But I can't find any reference to it now.

Perhaps yayay who has read extinsively on this matter may be able to shed some light?

I think the current drop in stocks and metals etc is due to China declaring a %5 growth target for 2023 lowest for 10 years.
Expectation was much higher.

My view ( worth nothing of course) is it will be easily beaten.

We just need iron to stay high, which is almost a given and news to come through fron KNAC etc.

The BOD can block a takeover approach by not recommending it to us shareholders. I am sure you are correct RMc would do everything in his power to stop it.

They can not stop a 'hostile bid'. That would be up to us not to sell.

GGP have no funds to get involved here.

The problem 5x5 is that a bid now would likely be 80% on top of today's SP.... less than a penny.

We desperately need some good news flow.

The concern I expressed yesterday of a takeover is looking worryingly more likely.

https://tradingeconomics.com/commodity/iron-ore
$129
up .78% overnight.

Max, what time zone do you hail from?

@Mrchew

"Board have shares at a lower entry, selling the company would leave them without an income. "

If an approach were made I am sure it would be refused by the board and not recommended to the shareholders.
It would then by 'hostile bid', be made direct to all share holders.

Now whilst the board do hold many shares, it pales into insignificance compared to the 5.5Billion in issue.
It is us who would decide it's fate.

I did not expect my comment on takeover to develop into a full blown discussion. I still think a less than 50/50 chance of it happening.

I have to disagree SB

Any JV with ourselves needs someone with a cheque book. We have adequate exploration expertise already.

Plus GGP have problems of their own currently. Any further exposure would be crazy on their part.

To be honest, my biggest fear for UFO is a hostile bid for the whole company.

Out market cap is loose change for these giants. Whilst I have no doubt most investors would be significantly in profit, the true mid to long term potential of our tenements will not be realised.

I hope I am wrong as the real prospects are vast.

PS.. Yes AA seem the most likely bidder/predator.

Please tell us Myavian..

What exactly should he be concerned about?

W.H.Ireland see current fair value at 2.7p

With a fair wind on the rest of the tenements, let's just say .....MEGA BUCKS :-)

Not forgetting the biggest vote of confidence...

Rod has >£500,000 of his own cash invested here.

rust in p ss

The man who invented predictive text has died.

May he rust in ****

I'll get me coat.

If I may just observe that we have had an informative discussion this morning.
The spirit in which all have contributed does credit to this BB. In direct contrast to other BB's.

Long may it continue :-)

Thanks Deanok

Thanks HH

A mirky area. No real surprise there though. :-)

Are KNAC paid a 'cut' of profits?

I haven't seen any clues on this.

I suspect that Rod is erring on the safe side here. It has been a 'bone of contention' missing targets on this for six months.

My view is it will be beaten comfortably. But, what do I know?