Telegram message31 Oct 2024 09:05
this was posted by indiana s on telegram
it does contain a n error re:- thousands/ millions alredy noted
none the less a great summary of where we are at,
"wow, any rns that isn’t “we’ve sold something” or “we’re mining something” really riles up this group.
the way i see it is that the assets are great, mining takes time time time. the sp fall over the years has been extreme, but hardly due to the level of conspiracy and incompetence people like to shout about.
be reminded, they only bought munni munni in 2022 and did a great thing in consolidating it with elizabeth hill to create a massive (and arguably world class) pinderi hills asset to play with. since then then they’ve been gathering up all the old data from various sources, getting fresh experts and technologies involved and even got a jv in errawarra to pay for a load of fresh exploration for a very fashionable metal that we didn’t previously know we really had...not a bad 2yrs imo. now silver is cooking they release an rns about pinderi (sensible move, just not the one this iron hungry group wants, fair).
it was only 2022 that alien acquired the 90% interest in han****. since then theyve got a jorc, permits and even added the mallina tenement which gives them direct access from han**** to the great northern highway without paying someone else for the privilege of crossing their land. han**** is ripe for selling and they’re now considering multiple offers under the guidance of some consultants (cda global) who were integral to getting fenix resources to get the funding to mine. now they are also suggesting they can get a bit more resource defined on the mallina tenement to significantly boost what’s on the table for negotiation (did i see it could potentially quadruple the existing han**** resource or something?) and ultimately be selling/partnering on a much bigger asset. so pretty savvy to wait a moment longer i’d say, albeit frustrating to let a bird in the hand go.
everyone’s talking about a fresh placing for pinderi drilling. didn’t we just raise £600m through a placing? drilling aint cheap, but it isn’t going to cost us half a billion is it, so calm down peeps. additionally, you need the drilling to evidence the resource and ultimately either mine or sell the bloody thing. its a must-do, so nothing to be screaming conspiracy and incompetence over just because the jam is further ahead than expected again.
i’ve been in since the 1.2p and 2p days, lured in on the hype of elizabeth hill. i’ve been looking at red for years too, but the overall investment case hasn’t changed for me, in fact just got better as they’ve loaded up on, consolidated and been packaging these assets very nicely for prospective buyers. and it’s only been 2-3yrs, which in mining is a blink of the eye!
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