Member Info for Cygnus7

Great to hear things are on the move and it's not 'you wait until 2027 - things will be great!

However, seems strange that a decision has been taken regarding the mining of this resource yet we have not heard the results of the assays. Surely XTR & Oval would not decide to move forward without knowledge of the assays results? Or have I missed something ?

Jwoz - as 15000 g/T was previously reported but these samples were sent to Canada (if memory serves) presumably because local assay providers could not give an accurate reading I'm expecting a higher figure. Possibly even 20,000 g/T.

Can't understand how this sp is not reacting to the prospect of great assay results. Punters seem to be buying but it's not having an effect.

A.J, I've known other companies use the XRF results and then find they have misled investors when the accurate assays have been published. These devices, along with the geologists using them, tend to unintentionally cherry pick the results they want to find.

Jwoz, think you'll find it's more of a reaction to all metals falling - by some margin. Copper starting to recover but silver may take a few days.

@3:15 pm Somebody's having a crack at breaking the silver price rise. Now down to ~ $115

Yes, copper price quite remarkable but not having an affect on the sp !

ID78: Correction, now $114 !

Hi Gunsup, yes, I know there's a difference but as 20 kg was a finger in the air and I'd also made other rounding errors on the way it didn't seem too important to get accurate numbers. But , technically you are correct.

Hi B-Dragon, there is no direct relationship between grades/prospects and the sp. Which is why many of us have been pulling our hair out and wondering if we are missing something that others can see ! I think the market is at least now willing to have a punt.

One the subject of the silver price. Clearly the Ag price will no move linearly and a drop back is always going to happen at some stage but the days of hoards of silver stocked around the world seem to be over. The use of silver in PV panels and other green tech applications seems to have exhausted this over supply. Silver is now subject to normal supply and demand pressures and so silver will find a new level. I expect that to be above $100/once but how much higher is anybody's guess and how soon we get there: one needs to inspect the tea leafs.

Just having a think about asay resuts we are likely to receive in the next week or so. We know that last year there was a report of a drill result recording 15 kg of silver/t. Now we hear that there has been sone drill samples sent to Canada because the local assay office werre not (presumably) confident is doing the assays. Clearly this is not because the silver content is too low. The result must be some degree higher than 15kg/t. If one were to make the assumption that the assay comes back as 20 kg/t then for a bit of fun I thought I'd find out what that's worth over that tiny region of the prospect that delivered that result.

There are approx 35 onces to one kg. So,

20 x 35 = 700 onces

If the price of silver is $110/once then:

700 x 110 = $77k/t

As reported recently on this prospect there are about 2.75 t of ore/cubic metre

so, $77 x 2.75 = $143k/cubic metre

In sterling that's approx £106 k/cubic metre

Now, obviously the whole prospect does not have those grades and there's processing costs to include and we only have 30% of the JV. But, that's still a shed-load of money for a company of UFO's size.

I also got caught with Arian Silver but have been averaging down when I saw the UFO potential in the hope of getting some of my cash back. Now have an average of 1.16p. Just thinking I might be able to make a profit (ignoring inflation)!

On the subject of WCE owning UFO. I wonder if this is code for a plan to amalgamate UFO into WCE so that UFO shareholders become WCE shareholders ?

Just a thought.....

ART - I stand corrected relating to Garlis being the chairman of WCS, not Greentech.

Jwoz, any interview will be very enlightening. My concern has always been that Garlic's interests are more Greentech related than UFO related. Be nice to be proven wrong.

ICB - when I first ivested in JLP I was a little wary because of the companies heavy involvement in South Africa which looks increasingly like a basket case so I was quite pleased about the move to Zambia as I am both a Copper bull and a Zambia fan. Hopefully those tendensies will be profitable.

Which is close to £5k per ton.......less the cost of production.

Silverking - the clues in the name.

Silver up 200% in the last year ! Just how much silver is left at Silverking and what's the financial balance between copper and silver there now.

Not sure about the Venezuelan silver but I think things are about to get tricky in Venezuela. The US military may have removed the head of the snake but he seems to have done what he's done all of his life and left the details of how the US is going to run the country to the 'little people'. How on earth is that going to happen? If the existing crime regime at the top of Venezuela are not prepared to bend a knee who exactly goes in and 'runs the country'? Who do you talk to first. How do you quell any local warlords that what to use the chaos to gain power? The answer ' the US military' quickly leads to either another 'forever war' or a civil war. Seems like things are quickly going to go south.