Member Info for Deanok

31 August 2022

Exclusive rights, so far we haven’t heard in the form of an RNS that this exclusive right no longer applies.

I’m not in any Telegram group. I’d be interested to hear what Charles Archer has to say on the above RNS and his take on the ‘agreement’.

Failing that, I’d want the question answered in the rearranged Investor Meets Company webinar.

Good luck to all.

As of their last quarterly report in April, Fenix are currently sitting on A$90m cash and SP is approaching All-Time-High ..Snippet below from the Report...

Business Development

Fenix continues to engage with interested parties in assessing new opportunities to expand its

mining and third-party logistics business, positioning the business further for exciting longer-term

growth.

Fenix remains open to exploring regional opportunities for exploration, development and

production, both in collaboration with third parties and/or the acquisition of quality mineral projects

and mining infrastructure assets in the Mid-West.

Allthough it makes most sense to me to go down the JV MinRes/Brockman Mining route purely based on the Sirius Extension, nothing can be ruled out and it just shows that even the Smaller Miners want more High grade Ore.

There is no doubt in my mind that there are more than 1 interested party and a team of advisors that will do the best deal for the long term prospects.

As for the price of these shares - im not happy but not suprised, its a tough market to raise money, and UFO are certainly not alone on the downward trajectory across the AIM explorers. We dont know what prices these brokers offered. Maybe they were offering much lower than RS, we simple have no idea.

Once any uncertanties are removed, this should be reflected in a re-rate. Until then, best to switch off and avoid looking at the daily fluctuations, rampers, de-rampers comments.

Opthalmia (where Sirius is) never gets a mention on MinRes Quarterly Report, until the last one. With a wind down of Yilgarn Hub, Opthalmia is getting more attention. A good sign for the areas Access Providers.

CENTRAL PILBARA

Geological reconnaissance and ground truthing surveys were conducted for Ophthalmia and Wonmunna to

evaluate future drill areas. The development of the Central Pilbara exploration strategy progressed through

ongoing target generation, analysis and drill hole planning.

...and as it was pointed out here before, Min Res entered the Polaris JV before their Heritage works were complete.

Needless to say we havent heard anything from IOCA to say that the agreement with AA isn't still valid. Plenty of options still on the cards.

Very Interesting news Lyndon.

Lets hope MinRes (Polaris JV with Brockman Mining) can now focus on Opthalmia as well as Marillana Sites. Lately the Brockman reports have been focusing on Marillana. We all know what they need for their Opthalmia (Sirius) site....Access.

Bennelong funding is short term. Placing not far away. Possibly after good news on the way.

Hammersley 90% to 100% soon ;-)

Took a short on silver opening following the Israel withdrawal. SL already @ BE. Got a great entry at the high.

Let’s go.

https://www.lse.co.uk/rns/ufo/agreement-for-potential-han****-project-finance-ar67cfmyah98a0u.html

aa still have exclusive rights. if anything changed, company has to let you know via an rns.

personally i'd prefer that to be terminated and a deal struck with minres.

Brockman Mining and Mineral Resources JV includes 125mt of ore at Sirius. The road will be built and an agreement made to unlock this tonnage. IOCA holds the key.

Also need to start exploration at 47/5001 to show they are not reliant too much on Sirius.

I think its looking move and more likely that a deal needs to be struck with MinRes/Brockman. Significant Tonnage on their side that needs access to a road.

It'll be interesting to see the new teams roles. Will they be IOCA roles or UFO roles. This should give a clue as to the likely direction IOCA takes.

A more leftfield scenario would be if IOCA moved into Rod Mcilree's More Acquisitions

Yes IMO.

Question for me would be what % would UFO hold.

I think IOCA IPO would bring in Institutions and be valued more generously as a pureplay stock than currently through AIM:UFO.

Institutions would rather invest in a pureplay Ironore company than UFO who have various other projects to feed money into. Just my view.

The Terms:

a. In the event of a Tenement Sale: 50% of the value uplift attributable to the Projects;

b. In the event of an IPO/Spin-out event on a recognised stock exchange: 50% of the value uplift attributable to the Projects; or

c. In the event a decision to mine is made: 50% of the project valuation uplift attributable to the Projects.

In each case, the uplift payments are reduced by 50% of the incurred project expenditure.

As part of the transaction Alien has agreed to transfer its interest in the Projects to IOCA who will become the manager of the Projects.

I still think IOCA will be spun out on the ASX. This would maximise the 'Value Uplift' that Windfield would get.

SKN - not while they’re being drip fed by placing flippers between 0.23 and 0.24.

This tap could stop any moment. Looks pretty healthy right now as they slowly get soaked up.

would probably make more strategic sense for han**** prospecting or mineral resources to acquire han****.