Member Info for Dip666

We have Bill managing a team that manages to get projects moving along despite challenges with Oz permitting and l;ab delays and Lloyd and co focused on Han**** amd massive supply issues globally affecting the industry.
Not been perfect, we seem to have had a poor drilling contractor in Mexico and the lab results do seem to be delayed despite Bill's thoughts they might come through quicker but all in all, with all the industry issues during and post pandemic - I think UFO has done OK.
Roderick seems to have an underperforming reputation from BlueJay so let's see how he does here and as shareholders we will have some say in how we feel by the next AGM by which time we should have had Han**** in production for a while and I suspect Bill will have defined a better idea of how to proceed with EH although MM in general seems to be more long term and Mexico is a bit of a question mark at mo as need to know how those initial results from the drilling.

Munni attracts money!

Sorry - I just had to get that out ROFL

This one will work Z :-)

https://tinyurl.com/3s8ybph6

IMO Bill's shown fiscal responsibility and helped put together a very very strong portfolio of tenements and perhaps strategy and leadership aren't where he is best focused really though and leading the projects and exploration is best sue of his skills. he may also have been happy himself to move back to more of this type of focus vs the roles he had and didn't seem that keen on various aspects such as presentations etc.

Perhaps there are better choices than Roderick as CEO but the company is moving into production with Han**** and a lot of negotiations around off-takes and potentially JV's in the future too so I'm thinking it's for the best - need to do some recon on Roderick though this weekend probs to check out his history etc.

Rod should be formally appointed soon as CEO.

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, advises that with immediate effect, Mr Roderick ("Rod") McIllree will join the Company as Executive Chairman (elect), until his formal appointment subject to normal director onboarding procedures, including regulatory approval.

Until such time, Mr McIllree will be engaged as a consultant to work with the Company's board to undertake a strategic review and detailed assessment of how to unlock the value of what is a portfolio of very stable and significant metal projects, worldwide.

Yes Simon, I do 'love' the new forum but also 'love' to share links here back to the forum as Pi's are collectively building a nice encyclopaedia of information on there whilst here we continue to have a multitude of childish posts and trolls and arguments which is why I and others post less.

Sorry - use this link - always a way!

https://shorturl.at/dIK67

Use this link :-)

shorturl.at/dIK67

LOL - so links to forum now being blocked I see.

Well we all know where the new forum is by now..... G G P C h a t . c o . u k

Annual report on 18 Aug a good shout for 5% Z...... but easy one too!

Go on Mystic Meg, tell us when the FS gets published, a random date or around the two key investor dates for Sept quarterly or their own AGM in Q4 :-))

5% of a multi decade gold copper mine that is being talked about as plus 20 MoZ resource quite openly and we want to retain having an understanding of the potential in the mining lease now.
And we know the valuations were made using the fraction of a fraction of ore body in the PFS as a base along with conservative metrics around factors such as commodity prices so the 60m is anything but a reflection of actual true market value :-)

Not really, the price determination was the big uncertainty.
We know they have 30 business days from July 20th and it is a binary outcome of they buy or not and what that means for funding requirements.
We either have loan fully paid off etc. or retain the 5% and continue with 30% into production, neither scenario is negative now as even if they purchase, we have cleared the decks for funding into production.

Not sure anything is set in stone Sandgrounded or should I say greenstone :-)
I think that is a decision the team would make after more drilling took place but pretty obvious the team are keen in general on EG, Shaun is always talking excitedly about EG (Tier 1 opportunity was how he described it) and both Callum and Damien talked about EG in their respective interview and presentation of late.
For whatever reason - they really like EG IMO.

I'd say Shaun's plan is to drill the targets Newmont defined using their proprietary tech in the previous JV and prove up any potential before assessing whether a JV or trying to go it alone is apt - excerpt from the LSE Webinar below.

Also worth remembering that Newmont will have seen a lot of changes in their leadership team inc. the CEO and BOD since the last JV and our BOD may consider their current team and corporate strategy a good fit. Remember it's not just Shaun as it wasn't just Gervaise before, there is a team of experienced professionals helping advise the company strategy, decide on exploration targets and where to drill etc., best not to turn Shaun into some messiah figure although to date the guys does indeed seem to be pulling off some miracles :-)

Excerpt:
* Okay thank you that was a very positive answer Mr ia ripper I’m not sure if that's a real name are you the real Mr i a ripper… anyway he asks a very sensible question about Ernest Giles in the future ….Shaun do you see Ernest Giles as GGP’s first 100% owned producing gold mine?
- it's a lovely question so the look I I think I’ve been consistently open that I really value and think highly of that ground, Archean greenstones are associated with a majority of west Australian gold discoveries they are tightly held heavily explored
- we have one undercover which is also I think competitive advantage in exploration, for some with long memories Newmont did have a look at that once upon a time pre-pre-me my understanding is their Australian team advocated to bring that into a joint venture into Newmont at some point that didn't get didn't resonate with Newmont Denver in terms of their overall global portfolio but I think it's again ground that even a major is interested in and they had some proprietary tech that they shared with us around the opportunities there and we're kind of itching to drill those
- so and now kind of fast forwarding to today with a larger balance sheet larger market cap and better access to capital the way I interpret that is it makes more sense for us to take an asset up the value curve i.e to spend more on it to define it better
- so if we were to transact from it we get it full value and to be even more open yeah look absolutely love to bring 100% owned asset under production so if we did discover the right rocks there I’d be delighted to take that through the production and you know my background is in producing entities so itching to get there now

The link below contains a folder of my notes from Bill's interview and might help check what was said :-)
https://www.mediafire.com/folder/3mvw5bggn97yg/ALIEN+METALS

To be fair to Pete or anyone who was forecasting $100m plus valuations - none of us knew how hobbled GGP were with the JVA conditions around the option exercise and we don't have specifics just some hints from Shaun as obviously some confidentiality aspects of the JVA/Option exercise don't allow him discussing these specifics in detail.
I think many of us had started to see $50-100m range as more viable given the hints by Shaun around the ruleset and the PFS being the base for negotiations - the term FMV didn't really belong in the narrative if you have a very restrictive ruleset IMO.

@sandgrounded - RNS stated 30 days from 20 July (business days I presume so we'll see it go up to end of Aug) and Shaun said they may need a few months to complete the transaction. Sandeep doesn't just assign $60m with a single email - it is a large corporation with internal and external regulatory procedures in place that need to be followed.

As for Sandeep being a 'bully', he may well be quite pleasant and engaging in person but that more refers to setting a company culture where performance was favoured over wellbeing of employees than indicating he might be overly emotional and lack guile when engaging in decision making and any major is going to want some level of control when they own the majority of an asset and therefore undertake the majority of work, finance and risk taking of that asset/project.

Major shareholders in a company the size of Newcrest have a lot of influence, Sandeep is already on thin ice in regards to their view of SP performance and dividends along with the bad PR around the 'bullying' - he'll have to ensure they agree in the ROI in paying $60m.

And perhaps if indeed it was GGP's valuation that 'won', NCM are in theory paying more than they argued for as 5% as market value so need to conduct DD to justify the purchase - as we know the ruleset (around metrics such as commodity prices to be used in forecasts) utilised in the option exercise and the binary nature of the valuations being assessed and one selected by a 3rd party vs recommending a FMV themselves very much indicates there was no true opportunity to calculate an actual FMV that could be used in a potential bid for all of our stake in Havieron.

Notes from Damien Stephens Havieron Discovery MEGWA Presentation - 24 July 2022

This is a fascinating presentation and a lot of information in here about what GGP/NCM now understand and might need to do to find another Havieron, tidied up a YouTube transcript export but also added screenshots of the presentation slides for each section so content can be better understood by reading through in conjunction with slides.

https://www.ggpchat.co.uk/viewtopic.php?p=2005#p2005

Have a lovely weekend too :-))

*Mention of Nickel I meant :-)