Member Info for DGR1980

Its like getting a mortgage to buy a house, but instead of using the money to pay for the house, buying a car and hoping to sell it for more

After all the thing Anglo is interested in is getting the 60%+ iron ore

Sorry HH, I've ben researching a bunch of other shares this morning, and completely forgot about the Hammersley agreement which is now about 30% below the price agreed.

Its possible they make the initial deal with Anglo based on their 51%, and then when the extra 39% is acquired it ramps up the volume of iron ore they get?

HH - Are you not linking two things together that shouldn't be?

The more attractive for funding if we have 90% is for Munni Munni, whereas the Anglo financing is for Han****.

So when / if the Anglo paperwork is signed we should get a rise which in turn leads to less shares being required for Munni Munni, which then makes us more attractive for funding for that

Doyouevenlift - Thats why the assumption of $2000/ounce is for the full 20 years. I'd say thats a very pessimistic price

Its also particularly telling that a couple of days after an update, someone who hasn't commented on the share in nearly 3 months appears and starts to spam huge walls of negative text . . .

I think we're old, wise, and ugly enough to know not to take things said on a board at face value.

I'm certainly not going to believe someone who says "I have all these emails from the company, but i'm not going to post them because the CEO had a strop" and is worried about the 'vibes' not the content

Tygra - On top of that the risk / reward profile is hugely tilted in favour of reward.

After all the price shenanigans around the 5% option, and the funding vote, i just can't see it dipping much below where we are, however the upside is clear blue skies if you have the patience to wait

Slim - There's been a few macro things which have happened in the last 12 months . . .

A few months delay on the FS isn't a bad thing as the volumes will be considerably greater. We'd likely have had a delay before they'd have been able to implement it due to the decline needing to hit certain depth anyway. They've already started a production spec decline so we're not losing out

Spade - its possible now they know we've got funding and that they aren't buying the 5% they want to make this the biggest fs possible to sell it to their shareholders

Given Newcrest declined that option a month or two ago, I'd say you can safely ignore the rest of the article too.

That said you can safely ignore MF articles regardless as you often get multiple with very different opinions within a short space of time

I don't know what Chris2 has said, and i have no intention of unfiltering him to find out, but it is possible that UFO will never mine Han****.

However that would only be if Anglo either buy IOCA from us, along with the licences for Han****, or if they buy out UFO in its entirety

I would say thats the new PM bounce over.

I'm still expecting to see us in the 75 - 90p range for a few months yet

slim - I'm the opposite too. In the last couple of weeks i've actually quadrupled my holding and have way more than i expected to be able to get. The risk / reward profile to my mind at this level makes it pretty much a no brainer for me. That said my average is now 0.55p so i'm in a much better position than some would be who got in on the rises to 3p or the following one to 1.6p

I think thats overoptimistic.

The current cost of living crisis is going to affect the number of people moving, and thats before the BOE raise interest rates further

yayay - I'm good now, and holding way more than i ever thought i'd be able to.

The rise to 10p can start now

Its all just coming together now, but the price isn't reflecting things to my mind.

To me this feels like one of those situations where I am going to go in overweight in my portfolio, in order to reap the rewards. I already have a number of slicing points in mind, but they are multiples of my current average

Well i thought that was a good update.

And i've also doubled my holding on the dip just now. 0.475p is a pretty good buy price and i now have a lovely average

normbeef - The question is how big are they expecting things to get, and i think they're expecting it to grow a lot.

My guess is that they're waiting for things to be a certain size before they hoover us up completely.