Member Info for Dip666

@5x5 - remember the interview back in Sept '21 - they decided to switch to RC with the dual drill rigdue ot some ground conditions mate, might be that?

https://www.v*xmarkets.co.uk/articles/bill-brodie-good-ceo-of-alien-metals-provides-and-update-on-elizabeth-hill-silver-project-1596218/

Key points from Vox EH update Interview - 09 Sept 2021

*Business Summary
- General overview of UFO projects.
*Highlights on EH drilling
- Tenement has previously had several companies focus on the historical silver deposit at EH
- Did some QA / QC testing of historic silver and new program is also proving viability of a much larger copper/nickel/zinc mineralised system around the historic silver zone (egg yolk/egg white analogy).
- Results provided based on XRF readings currently, no lab results yet but significant readings such as 21,800 grams of silver (nearly 2.2.% silver, 5% copper, 1.1% nickel) and also a series of readings in areas drilled in both historical and broader halo zones that might potentially hold a different type/scale of economic and mineralised system.

*Overview of core visuals?
https://www.rns-pdf.londonstockexchange.com/rns/1895L_1-2021-9-8.pdf
- Figures 4 and 5 show native pure silver in these locations, proving the historical works
- Fig 4 is only 16m below surface in an unmined area as the deposit was only mined from 60 to 200m depth in the past, the whole large surface ore body was never touched
- Fig 1 shows abundant very strong sulphides in veins, calcite minerals and the significant sulphides identified in the core are associated with copper, zinc and nickel mineralisation
- Seeing similar results through a lot of the core being drilled further away from the original silver ore body
- Possibly wasn’t explored in detail in the past due to the lack of demand for these metals, but these are all in demand currently and will be in the future too.

*What to expect?
- Drilling has been slower than hoped due to expected ground conditions, focus has always been on quality vs quantity as in Fig 1, but takes more effort and time to extract
- Dual Drill rig will now be changed from DC (diamond core) to RC (reverse circulation) which still provides fantastic data while keeping the program cost effective
- Looking at some shallow RC drilling then from a tail swapping to DC and for example then coring down through the critical area around ore body
- Will still get significant information from the RC sampling, less geological without a physical ore, but can still build a really good understanding
- Historical records mention a lot of associated sulphides that were never followed up
- And at surface in other parts of the mining lease you also have copper, nickel, cobalt and PGM anomalies associated with the reef system
- Team is really excited, the West Pilbara has had recent discoveries for these metals and UFO might be on the cusp of finding the next one

Interesting to look back at this now that the lab results

One thing worth mentioning is when you work for/invest in a large multinational it's not uncommon for very conservative projections to be used in a multitude of forms from earnings to project timelines etc. etc.
And agile is not the word, be it decision making or operational procedures, the fact NCM are moving at such a rapid pace and committing to a production ready decline as noted by the Alistair Ford's out there says a lot IMO

*scanrio = scenario - typing on phone!

This is what I'd do in Shaun's position - and I'm sure he really cares lol
1/ Initially I would ask NCM if we could agree certain parameters to base our valuations around as quite frankly if both have massive divergences around key metrics, we will never get within 10% of each other. I'm hoping they are doing this anyway - just common sense when negotiating anything like this from my own experience.
2/ Failing the above, see how initial negotiations play out, are there huge variances or not in early stages that seem fairly unlikely to close?
- If we're looking at a scanrio where we're an ocean apart, then I'd be thinking about the certainty of this going more towards a 3rd party assessment and focus more on establishing a value that would have a higher probability of being determined as closest to FMV, more so than closing a deal with NCM. Having a consultant from SRK in our Technical Committee should be useful in that regard and in fact they should be doing this from the outset I assume.
3/ If the values are say within 15-20% , continue with trying to negotiate closer and even suggest 'tweaks' to the agreed process to help close a deal and as TT says - you could perhaps look to average with a wider range than 10%. As we know, if both are amenable then they can agree whatever they want irrespective of the FMV process in place.

@Ben - Absolutely mate, at the end of the day - what do sensible and proactive people do when they think they might lose their job or a contract is running to an end......the best usually get out sharpish if redundancy pay isn't worth hanging around for.
@Welsh - absolutely what I have been trying to reiterate mate and so easy to jot down a few scenarios and see how pear -shaped it could go for the party submitting a vastly over or under-valued number for consideration using different scenarios against a 3rd party FMV.
Just don't ask me what 'fair' is though as some wide ranges are possible and my only concern as such, but even the brokers are suggesting $200m plus isn't unrealistic in theory and when have we ever had favourable broker notes for GGP lol

@RTC - I won't debate there is a case to be made to suggest NCM might have looked to kept the Maiden MRE lower for nefarious reasons just as there is that they might be planning a hostile takeover etc.
But there is also a very strong argument that NCM need to get Havieron into production without a gap year at Telfer so are doing the bare minimum to get through the red tape and jump through hoops needed to enable this.
Both NCM and Shaun have reiterated repeatedly that Newcrest have 1200 staff with highly valuable experience at Telfer that they absolutely want to retain and they will do everything to avoid a gap between Telfer’s rapidly diminishing output and Havieron’s production commencement to retain them.
The issue is that if NCM had to let them go due to a gap between Havieron and the planned extension work at Telfer not being enough to retain many of the staff , then the really skilled and most effective staff will no doubt get recruited sharpish by other companies in what we know is a massively under resourced sector desperate for personnel, services and equipment both globally and particularly in Oz.
I think the decline in SP and uncertainty around the 5% option is really playing on many peoples fears now, I bet we wouldn't have half these conversations if the SP was still up in the 20's :-)

If this were a Marvel Movie then I'd cast SMiller as Iron Man and Max as the Silver Surfer lol

Have a lovely weekend all - it's been a tough year or so dealing with the negativity despite good progress with a scoping study and excellent results for Hammersley projects and what a blinding start to Elisabeth Hill with the plans for Munni Munni too ahead of us!

Who knows - Bill may well be able to get a bit of Mexican Salsa going too this year :-))

The SP can go to hell - I'm toasting the E.Breccia confirmation tonight, massive implications towards resource size and increases probabilities for more Havierons floating around Havieron geologically and those assumptions all help feed the 5% FMV price tag IMO
Also to keep in mind is IF those two outstanding Zipa drills hit the good stuff , they should have TruScan readings to also help modelling and assumptions for the FMV.

LOl Silver - no idea my friend but I've personally made my best gains on the markets being in investments early that went through long periods of being unloved but had intrinsic quality.
SP aside - the fundamentals keep stacking up insanely here, I'm treating last nights results as 'money in the bank' for when money comes back to the sector.
IMO - we only need a 'fraction of a fraction' of the money tied up in vastly overvalued equities to come our way to see a return to form :-))

Interesting, so is 'new' Meco or perhaps new targets identified with the recent new survey and understanding of Havieron area?

Always shocks me how many don't know or even unaware of voting rights 5x5 :-)
Just in case it is useful to anyone here - instructions for my two platforms :-

- iweb send you postal votes as long as you've initiated the option in your account/s either online or via telephone request.
- Interactive Investor now auto submit all investors so they'd receive emails to log in, go to the voting portal and submit.

Here's some feedback from the AGM in December '21 RedTrader, you could perhaps email GGP for an update to expectations or submit a question at the presentation next month:

- Decline progressing, currently moving through the soft Permian area that takes longer than hard rock, around 400 meters of cover before getting to the harder country rock when speed can increase. Always been planned with relatively slow progress to start with, but as you move further down to the more compressed Permian rock things pick up and eventually with the harder country rock you have beautiful mining conditions.

*An accurate ETA for completion of decline?
- 2nd half of CY 2023 is realistic, really looking like late CY 2023 with central goal of getting Hav into production in early CY 2024 to avoid the risk of a demobilisation of Telfer for Newcrest.

Sry got the wrong thread first time lol
I may be slightly impaired due to some alcohol last night in my defence :-))

*Bonanza Grades at EH?
- First set of results contain results such as 10m interval at over 8000g per tonne silver
- Cognisant a lot of native silver in these intercepts but very exciting that they’re not just 10 or 20cm here or there, it’s a 10m zone pretty much from surface, not 300m underground in the middle of nowhere
- Hopefully the start of much more to come with more excellent results to come from RC drilling in and around the ore body and extensions to the mineralised system

*So this Bonanza event, how does this fit into the whole Alien Metals picture as you’re not just a one-trick pony, you’ve got a sprawling company around you?
- Confirms that with the Elisabeth Hill project and acquisition of the Munni Munni project contiguous to the south that’s related to this larger geological feature (intrusion) we are continuing to add value and excitement to these significant projects
- Very fortunate as iron ore project is also going extremely well and we’re still drilling out there at the moment, news to come from there as well
- Working in Mexico, hoping to be out there soon and doing some work that has been frustratingly postponed
- Amazing results at EH, significance here is that we got some incredible silver results but also significant copper, nickel, lead, zinc & cobalt so there is this base metal halo integral to the mineralisation that wasn’t properly tested in the past for the initial EH silver deposit
- Have a sense and like to think that there is a much bigger beast out here that we are just getting to understand and snip at the edges of
- These sort of results are fantastic and better than even we expected

*Doesn’t it also validate the approach by Alien Metals that you identify targets successfully and get meaningful and significant material benefits from your projects?
- Cracking on with the work and acquiring these specific projects for the potential they hold
- EH we know was historically mined to a point, we saw the potential of not just the silver but the platinum because you have this J-reef within the mining lease, we added value by picking up surrounding ground and our target for this year is to work that up
- Hopefully validates we’re doing the right thing, still spending the money in the ground on the ground in these challenging times
- W.Australia have decided to keep borders closed so does impact us as we were planning to do a bigger program sooner, but hopefully we keep adding value to all of the project as we keep going.

Presentation: https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-bill-brodie-good-ceo-alien-metals-e82db0a/
RNS: https://www.rns-pdf.londonstockexchange.com/rns/8260Z_1-2022-1-27.pdf

*Bonanza Grades at EH?
- First set of results contain results such as 10m interval at over 8000g per tonne silver
- Cognisant a lot of native silver in these intercepts but very exciting that they’re not just 10 or 20cm here or there, it’s a 10m zone pretty much from surface, not 300m underground in the middle of nowhere
- Hopefully the start of much more to come with more excellent results to come from RC drilling in and around the ore body and extensions to the mineralised system

*So this Bonanza event, how does this fit into the whole Alien Metals picture as you’re not just a one-trick pony, you’ve got a sprawling company around you?
- Confirms that with the Elisabeth Hill project and acquisition of the Munni Munni project contiguous to the south that’s related to this larger geological feature (intrusion) we are continuing to add value and excitement to these significant projects
- Very fortunate as iron ore project is also going extremely well and we’re still drilling out there at the moment, news to come from there as well
- Working in Mexico, hoping to be out there soon and doing some work that has been frustratingly postponed
- Amazing results at EH, significance here is that we got some incredible silver results but also significant copper, nickel, lead, zinc & cobalt so there is this base metal halo integral to the mineralisation that wasn’t properly tested in the past for the initial EH silver deposit
- Have a sense and like to think that there is a much bigger beast out here that we are just getting to understand and snip at the edges of
- These sort of results are fantastic and better than even we expected

*Doesn’t it also validate the approach by Alien Metals that you identify targets successfully and get meaningful and significant material benefits from your projects?
- Cracking on with the work and acquiring these specific projects for the potential they hold
- EH we know was historically mined to a point, we saw the potential of not just the silver but the platinum because you have this J-reef within the mining lease, we added value by picking up surrounding ground and our target for this year is to work that up
- Hopefully validates we’re doing the right thing, still spending the money in the ground on the ground in these challenging times
- W.Australia have decided to keep borders closed so does impact us as we were planning to do a bigger program sooner, but hopefully we keep adding value to all of the project as we keep going.

Presentation: https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-bill-brodie-good-ceo-alien-metals-e82db0a/
RNS: https://www.rns-pdf.londonstockexchange.com/rns/8260Z_1-2022-1-27.pdf

Thx for the update chaps - much appreciated :-)

Must admit I'd voted against resolutions 4 & 5 personally.

Looks like all resolutions were passed - not expecting anything mate TBH

https://uk.advfn.com/stock-market/london/sunrise-resources-SRES/share-news/Sunrise-Resources-Plc-Result-of-AGM/87118647?xref=newsalert

Mumbo - I'll ask again - how did you come to those particular values?
Just picked some numbers out of the air or by using ancient divination methods? lol

@No-Trader - I agree very complicated and to some extent we have to rely on our BOD to look after our interests and be bound by their responsibilities towards their shareholders both legally and otherwise to not enable this to happen, which is a fear some are playing on here.
Off the top of my head, am thinking that a development asset would be termed as a fixed asset and we need more progress before we can term Hav as a mining asset, but will need to check latest results published and really delve into the AIM regs which is impossible right now in terms of free time - and TBH we probably need the input of a corporate lawyer and accountant to really pin this down :-)