Member Info for Dip666

You guys do realise Bill is the CEO but when you run a company/large complex teams and projects you're not actually making every single decision yourself and overseeing everything in minute detail - if you are - you're doing it wrong.
A good leader helps guide decision making and orchestrate the teams to perform their jobs and functions, just as Bill has brought in an experienced team to head the iron ore niche operation - he can do so for other areas. Of course, he may well want to focus on the geo side more in future and step down but fundamentally as we have a lot of exploration ahead so as a CEO he makes sense and has skilled staff around him for the key areas of the business.
When you run a company you need to build strong teams with their own effective captains and lieutenants that can be trusted to both follow the overarching strategical and operational plans but also give you key input into your job and quite frankly get on with things day to day and even issues without needing any input from you. Leaving you to focus on bringing everything together across the business to both meet current demands and anticipate and plan for future scenarios / demands. He's made a few mistakes but overall seems to be growing into the role IMO.
The sector is not buzzing as it was in 2020, good results aren't being rewarded with SP growth across AIM exploration companies whilst in 2020 a sniff of mineralisation was enough. We'll need to wait for general interest and money to return along with various other macro factors to get the really massive rerates we want but going into production at Han**** will help as will further exciting results from EH.
Bill seems more intent on defining what is at EH before he decides on a course of action so perhaps it will be 2023 when plans are outlined in more detail after this years drilling and then time to analyse in the wet season. JV's take time to negotiate so even if he is in talks with a major in regards to Hammersley, they will be doing their own DD and perhaps waiting for a certain level of confirmation of potential resource size - large corporations do not rush into things.

LOL I though he was Chris2 too!!!

Appreciate all your work Upside.
The sat updates are priceless for assessing what might be going on, I realised with GGP as Havieron took shape and you could see where infill and growth drilling was ongoing - you literally saw the ore body taking shape well before the official updates from NCM.
Despite being able to check myself, I realise how it takes a certain kind of mind to really pick up on the details many of us would miss. I hope everyone here appreciates your efforts and pays attention as we make progress across our different projects going forward :-)

The issue for any perhaps hoping to push the price further down is probably that there is now a hardcore of PI's here who even if disgruntled through loss of capital or paper profits are willing to wait out to their chosen exit point or into production and beyond.
If there are those hoping to manipulate the SP, they seem unable to push the price down as low as they want and whilst the GGP MRE update didn't result in us settling higher than we seem to run currently, neither has the continual SP grind or the Scally update (presented very informatively showing the potential inherent in the area) which certainly wasn't a 'wow we've struck again' RNS driven us down.
So we're pretty solid here irrespective of most of us considering the SP well below true value. Sentiment has us lower too - both through external factors - and perhaps for your average AIM investor looking for high risk/high gain scenarios. The 5% still hangs upon us, but even if the market see's the price tag as underwhelming when it plays out - I think many of us will choose to just hold or perhaps even add if it suits our circumstances and strategy. Hopefully, Shaun securing the funding around the conclusion helps alleviate any temporary negative connotations.
It's one reason when it comes to more speculative investments I always try to ensure the company has something in place bar just wishy washy potential as you can ride out the rough times if you have solid fundamentals.
Saying that I still felt I was taking a risk in Jan 2020 when I put a considerable amount of money in here as it was the first PM explorer I went heavy on. But sometimes I'll flex my usual stringent ruleset for evaluating an opportunity and follow my gut instincts, I had a sense of excitement reading up on Havieron and certainly liked the other tenements too.
Of course there are still risks ahead - but I'd rather a 4-5 year journey from exploration to production than 10-15 years . How often will I ever get that kind of opportunity in this sector coming in just after a discovery hole? And what a discovery hole it was and in fact .......we still won't know the true scope of Havieron for many a year :-)
And yes - NCM may try to buy the entire shebang off us this year or next - well - hopefully we're all smart enough to hold out for a decent price.

Come on Steve - unlikely a presentation to a room full of people, many just there looking at general at all of the companies has any major effect one way or the other.
Progress on the projects in conjunction with sector sentiment hopefully improving is what will be needed for a major rerate - we need the big money returning to the sector IMO.
I do think the better analysis on PM prices suggests a run up, run back down and then a proper run up is more likely than the uber excited 'this is the one' that comes from most PM bugs on every slight uptick personally and to date they have been proven wrong each time, things need to play out more.
We have a team working on a niche operation at Han**** for 2023 (hopefully by mid 2023 at the latest) and the plan seems to be to explore EH and define a better idea of what else is there than production recommencing in the short term based on Bill's comments having checked my notes.
I do think Bill likely favours JV's where possible (the norm for explorers of course) with Han**** and EH than any desire to develop himself and the niche operation at Han**** seems to be as much a proof of concept in some ways as much as a planned revenue stream but not a bad Plan B :-)

Whoops - wrong thread!

Old Biggie Smalls does seem rather anxious of late, very SHORT tempered indeed .......... :-))

No worries mate - we've had so many webinars etc. now that it gets hard to remember what was said etc.
Don't get me wrong, I'm very excited by our targets at Scally, within theJURI JV and of course the others we have planned for exploration such as EG, Panorama and Bromus coming up this year onwards. :-)

Excerpt below for reference:

* Plans for Scallywag this year given its proximity to Telfer and Hav?
- Plan to drill there this year as best way to unlock value in SP is by having exploration success at one of our 100% owned tenements
- Then could have a discussion with NCM about well do we bring this into the Hav JV or do we develop this ourselves
- Thinks if we were to bring it into the JV then it would give an opportunity to revisit the JV from ‘First Principles’ to both GGP & NCM’s mutual benefit so it would be a tremendous opportunity for us to have.

* Have you found anything at Scally that indicates that you have something special there or still hoping?
- Got some really high-quality targets there, continue to drill and pleased with some of the intercepts we have there but equally we don’t go and pattern drill as we’re quite selective
- Lots of reasons to feel buoyant about it but at the end of the day it’s about translating that optimism and opportunities into defined mineralisation
- Also really like our Ernest Giles (EG) asset and we’ve broadened our footprint in the Paterson so we have more opportunities than we previously had.

He was asked about Scally and replied that the best way to unlock shareholder value was by having success at one of our fully owned tenements and if so then having a discussion with NCM about bringing into Hav JV.
I didn't take that as a sign or clue that we've already made a discovery on any of our Scally targets or 3rd party interest, obviously our team feel the area is highly prospective but the results to date haven't confirmed an economic discovery - just that the area warrants further exploration and justifies future expense from my understanding, best to keep grounded and realistic I think this time around :-)

The Life and Times of BiggL - The Man Who Couldn't Count.

.....or in eBook format of course - what are we - savages on here?!

Folk should realise the majority of these kind of investor presentations aren't about promoting new news but looking for new investors by discussing the potential and giving an overview of key projects.
Wish I had a pound for every post after an investor prez is announced on any board and people speculating about an RNS etc. when 99% of the time it is just as I posted above..
Chill out guys, nothing Bill can do about both lab delays and issues with getting permits etc. as those of us invested in other companies operating in this region know all too well.
Although things have opened up there are still massive backlogs to clear in all areas and of course WA has been a bit of a gold rush type jurisdiction of late with the appeal that this sector built up too in 2020 leading to so many companies operating at the mo.
Most explorers are a waste of money but UFO is really making progress with the Oz projects and hopefully Mexican projects turn out well too and certainly we hold interesting opportunities there.
One thing this sector is teaching me is patience along with avoiding 99% of explorers as although I am choosy (and probably lucky to date) I do also watch many other explorers to learn through their projects and SP action - and so glad I hold the ones I do and have avoided many of the other popular ones as most just haven't shown compelling signs of projects that will be economic to develop or be attractive enough to sell :-))

And the update on the decline matches Shaun's comments from the webinar a couple of weeks ago - summary below :-)

* Update on the decline?
Most challenging part of the decline are the early parts when the rock is soft so widths of the cut are much shorter before you have to support the ground. Still in that early part and just about to move from Stage 1 with smallest cuts into Stage 2 with 2-2.5 times larger cuts. With depth, time and pressure the ground becomes more compacted and at some stage will get into the country rock and that’s beautiful mining conditions.
NCM did come out and say they’re a bit behind schedule and advised the market that completion of decline that was pegged for 1st half of the Australian Financial Year 2024 (01/07/23 to 31/12/23) is now more likely to be 2nd half of FY2024 (01/01/24 to 30/06/24). Not talking about a huge change at this stage and once we get into the better ground there’s a lot more that the team can do to apply acceleration.

The Scallywag update was taken well too instead of causing further negative sentiment through t a combination of more realistic expectations and a very well presented RNS detailing very clearly why the team think further exploration is worthwhile IMO.

Very much feels as if Scallywag has been ‘reset’ and we can move on in a more positive and realistic manner now and once we get the 5% out of the way we can just focus on the journey to production in a more enjoyable manner - looking forward to it :-))

Think it is a bit unhealthy to consider NCM as 'the enemy' as seems to be the general case nowadays. At the end of the day if we are hoping for a long term relationship in production, we need a congenial relationship based on trust and respect moving forward as we could be talking multi-decades if Havieron continues to grow in size as exploration continues over the next few years.
I'm sure both NCM and GGP teams are professional enough to continue daily work at the minute and going forward - especially after the 5% plays out (and hopefully not followed by a low-ball bid as some are suggesting) - and our mutual interests will then realign on optimising a path to production VS this distraction
I'm increasingly certain we'll see a bid for the entirety of Hav at some point, perhaps more likely post DFS IMO given various factors within NCM and who could blame them with Havieron and how it is shaping up.
Shaun stated in the last webinar that he would love an opportunity to revise the Havieron JV and I am certain NCM would also be open to this for their own reasons. I don't see any benefit on delaying this once Scally proves promising enough for NCM to show interest.
They seem happy with the potential with the JURI JV targets, hence going into stage 2 and surely this increases the odds in them taking an interest in Scally as the likelihood of a district scale region is only growing as other companies have also had some promising results (such as Antipa).
Earlier the better is best surely IMO as securing a better JV pre-production could be more beneficial and perhaps Shaun uses such negotiations to ask NCM to revisit the JURI JV too, might be opportunities to optimise that for both parties too if we gain leverage from success at Scally......

Quickly checking my notes, we have a fair bit going on this year :-)

- PHASE 2 CSC PROGRAM TO LAUNCH IN Q1 2022 ACROSS ALL CSC CENTRES IN INDIA

- 20.000 VR DEVICES TO BE DEPLOYED IN CHINA INSTALLED WITH DEV STEM LIBRARY VIA QWR IN FEB AFTER CHINESE NEW YEAR

- Indian National Career Challenge IN CONJUNCTION WITH ALDEBARON, presently anticipated for launch in Q2 2022.

- NEW MATERIAL CONTRACT RELATED TO A NEW APP WITH NDA PARTNER IN CONJUNCTION WITH ALDEBARON TO BE ANNOUNCED (THINK IT IS AAQUA)

- UPDATED PROSPECTUS TO BE RELEASED AND RELIST

Yep - many of us have been assuming AAQUA being involved for a while now :-)

LOL - not this again and definitely not spending my Saturday night repeating some of the posts from previous convo's :-)

I don't understand how some can have such strong opinions without having spent serious time reading up on everything AND paying attention to what Shaun's been saying such as how he has just confirmed the valuations will be based on a point in time of 15/12/21 in the last webinar but thankfully we will be able to incorporate the GGP MRE as it was using data up to 05/12/21 and also that the Valmin Code will factor in arbitration assessment during the Sunday Roast Podcast from memory or perhaps a brief interview via Investability around the same time.

A link below so anyone interested in doing the legwork can read information on and understand how Valmin valuations are put together, along with guidance on assumptions around reasonable grounds/tests apply around more speculative elements, hence the uncertainty that will be caused for both parties by going down the arbitration route along with the very wide variations in valuations as can be evidenced in the valuation example.

I've collated regs/rules in one folder and also created another with a summary of the SRK valuation I looked at, with an even more concise synopsis.
https://www.mediafire.com/folder/uv8jaum5kycrr/-+FMV+Valuation

YouTube presentation with great info. on the code and application of it, worth watching the full hour
https://www.youtube.com/watch?v=Odc0Y0ppI1E&list=WL&index=8

Link to presentation slides that are a good reference to get an overview of the Valmin Code and a bit on the 'Reasonable Test' towards the end (those particular slides are weighted towards one, not all of the valuation approaches):
https://www.csaglobal.com/wp-content/uploads/2019/11/MGEI-2016_The-VALMIN-Code_Ivy-Chen_October_2016.pdf

Have a good weekend all :-))

Hi 1investor - hope you're right but a lot of very hopeful assumptions in your post :-)
I agree with some of the groundwork done but there will be processes and red tape and proper due diligence required in testing surely by other prospective clients given the use and application of the pozz in construction, they have the money, time and legal requirement to ensure they do so.
You don't really play games with corporations and 'walk away' and surprise them, they'll just move on or wait. Perhaps they weren't impressed with SRES as a JV is a two way process, they will vet us as we vet them in certain regards. Not being negative, just trying to be a bit balanced as setting up expectations for a deal in the next few weeks and then for nothing to transpire will just set back the sentiment even more so unless we hear something from PC, I suggest keeping a balanced and realistic view on things.
End of tax year could be a factor in the SIPP top up just as much if not more so than any 'signal' from PC playing devils advocate again, the fact he isn't even replying at all to enquiries on how advanced talks are with other parties could be interpreted as nothing much to report given no response so far to anyone.
Just saying - keep it realistic - we have had a big setback but I agree, if a bad deal or no deal looking likely then walking away was best but all he said was a lack of response and progress lead to a deadline being given and ignored by the CRMC from what I recall.
SRES need to improve markedly on their comms strategy in general to PI's from my own experience here, I'm just glad that the CS project should in theory almost sell itself.........not been impressed by the BOD over my time invested here given I have and still am very understanding on the complexities of deal making and issues through the pandemic etc. - the opportunity remains clear to me and patience is a strong skill for me. I am hopeful SRES has learnt from this initial attempt and will take key learning points to help achieve success with closing a deal.
Again - just suggesting we keep expectations realistic rather than jumping to huge conclusions without any compelling proof to help regain some positive sentiment :-)

Not being funny Safe but why not derisk a bit as unhappy as you are - the focus on other projects since the deal fell through via the interview and social media to me suggests he now realises corporate timeframes/challenges etc. and probably isn't at all advanced with any other potential JV partner.
Frankly, I am expecting a long period of silence now or somewhat futile attempts to talk up the other projects which to date have not excited me - or indeed the general market - bar a small period when some twitter rampers jumped onboard with their cohorts for a play.
The CS project will sell itself at some point - deffo agree PC and BOD need some help on that side and should bring in a consultant or two. We all knew about the weaknesses in that regard and some of us are aware of the challenges of dealing with corporates in terms of their responsiveness, rigidity and timeframes to close contracts (as he is now I assume). If not happy, derisk and focus on other investments mate.
This is a much longer play I suspect now and with the way comms is from this company, pretty barren for news/updates, I assume plans are being readied now for other tenements but hopefully more than the usual junior explorer trick of twinning historical holes etc. to try and drive some PR etc. which I am never a big fan of unless compelling geological reasoning given.
Sods law could apply and we get an RNS tomorrow - but I doubt it TBH.

* Never quite sure with exploration what you might find, but is what you’re finding exceeding your initial expectations?
- Always an optimist so tends to think best of where we go but importantly these ridges are all part of a bigger system, all very similar and always felt from beginning that with the amount still remaining (10-20km if not more still unexplored) it’s making sense geologically that we’re getting consistently more HG material at the top of these ridges as already found, fantastic really as constantly adds value and potential to this project.

* So, confirming what you thought really?
- It is, some lower grade spots in-between but we’ve already seen that in the work done previously and that’s why you do 1st pass mapping and sampling at surface before you do everything else
- Really excited by it and just to say the development guys working up the permitting etc. are saying that now we’ve potentially got more, do we expand our permitting requirements based on the assumption we’ll have more material proven up to mine in a short space of time
- Can only be a good thing, we might do that to have a bigger footprint so that when we hopefully start digging at sometime early next year, that we have even more resource to kick us off.

* 3 reasons for an investor to invest in UFO?
1 - The commodity mix
1a- Commodity mix with HG green iron ore potential of Han**** and will also be drilling at Brockman once finished at Han**** (undrilled and very exciting too)
1b - PGE acquisition at Munni Munni is significant given terrible events ongoing in world (meaning global demand for PGE via Russia etc.) driving demand for supply from more stable sources
1c - Silver in Mexico, great being out there and saw some fantastic core when we started drilling, had lost touch of the great potential on the two silver projects, at Donovan 2 for the copper we had a quick look around before drilling started picking up chunks of malachite bearing material again at surface around that Los Alamos water well target, just reconfirms the quality of these projects
2 - The people, great team developing in Oz for instance
3 - The jurisdictions as in very solid, safe and secure jurisdictions that are mining domains and very fortunate to not be in difficult areas that could be a cause for concern.

The END.