Member Info for Dip666

Progress?
- Completed 3rd phase of RC drilling program from before xMas 2021
- Testing infilling on resources at Ridges C & E at Han****
- Also doing exploration/extension drilling on both those two resources
- Also managed to get to a couple of new ridges to the south we had only done some limited exploration on, but these have great potential for more High Grade (HG) ore
- Also did some rock chip sampling (60 samples along Ridges F, G & H) that carry on southwards from current tested ridges, significantly on the longest Ridge (H) about 5-6km long, the 800m that was able to be tested showed a HG anomaly along entire length
- Really excited, potential continuing to grow, particularly along ridges which are the the higher grade material and easiest to get at from a mining aspect, many more KM to test and work up

WA Restrictions causing issues?
- WA still closed, so Bill unable to visit yet and hoping lifted next month, also causing issues with gaining equipment such as drill rigs and turnarounds and anlysis from Labs are getting longer
- Current RC samples could take 3 months vs the usual 4-6 weeks so using XRF readings for initial indications (less precise & definitive than labs) to help process and carry on with planning
- Been fortunate and had a great crew of people to help and had great support though, currently drilling again as was able to secure a rig despite issues

Bulk of work was done before wet season?
- Correct, RC is the bigger work as need to move rigs more often and the DD (7 holes planned, not too deep) should be completed over next 2-3 weeks before significant weather arrives but still incredibly hot over there
- Bill hoping to get down there himself after Easter after things open and really push ahead with the project

https://www.youtube.com/watch?v=MZu07gdSOJs

Alien Metals Ltd (AIM:UFO, OTC:ASLRF) Bill Brodie Good talks to Proactive London after identifying potential additional resources at its Han**** iron ore project at Hamersley in Western Australia following the recent phase three drilling programme.
https://www.youtube.com/watch?v=MZu07gdSOJs

Defffo seems like Mexico is less mining friendly presently listening to some experts of late and I've always been more interested in our Oz tenements since my time invested here.
JV seems more appropriate with EH/Munni Munni and do think Bill seems to favour this approach vs production. I suspect even with Han**** he would be happy to revert to a JV type situ if someone shows interest vs the niche standalone operation, but wise to pursue that until/if one does perhaps.

Come on mate, you'd prefer we hadn't identified new targets, had abysmal XRF readings and also not completed the Heritage and Ethnological Surveys for Brockman?
You can't just go and stick drills in tenements or even just decide you want to start selling iron ore on a whim. Lots of red tape and procedures just to get permission to be able to conduct the work required.
Further hoops to jump through to ensure the 'work' is of sufficient quality to merit getting a project developed and operating, you do understand the purpose of all of these processes and procedures and requirements for such tings as scoping and feasibility studies I presume......

LOL TT - maybe we were cloned and unaware of it - or perhaps we're just seasoned and patient investors. which is far more boring but more likely to be true :-))

The 2020 Euphoria in teh sector caught most out as they either regret not taking gains off the table or bought in at the tail-end.
But was that the apex for this sector - I don't think it was at all :-)

Well I just posted this 'patience' related post on GGP as the current SP there is causing much unrest too and feel its message is applicable here also :-)

Reality is also choosing an applicable timescale for your investment strategy SproutsDave.
Trading is different and these stocks are prime pickings for traders around news and sentiment driven volatility - you can use TA and pick your entry/exits as fits the trade.
Very successful and experienced investors in junior explorers talk about finding quality companies with excellent discoveries and a journey in making ten bag and plus gains over years - not days and weeks.
My own gains in GGP were only 'quick' because I had the funds to buy a large volume of stocks after the discovery hole (where GGP was being ignored somewhat despite those grades), so while I paid a premium - I missed out on years of volatility and stress, always a cost of some kind - be it time or money.
Judging GGP once Havieron is in production (or of course perhaps monetises Havieron in another way) will be most apt, I've never advocated investing in GGP for the short-term, its a long hold to see the true potential - as is any junior explorer, although I'd argue that the pace Havieron is being developed in is hardly 'slow' compared to the industry norm.

I do feel if we end up going into production at Han**** in 2023 - we're looking at a very decent timeline for monetisation of a license here as GGP have with Havieron and I'll judge my investment in UFO in a few years, not right now at a time when we're still in the midst of exploration and the sentiment in the sector is very low.

Reality is also choosing an applicable timescale for your investment strategy SproutsDave.
Trading is different and these stocks are prime pickings for traders around news and sentiment driven volatility - you can use TA and pick your entry/exits as fits the trade.
Very successful and experienced investors in junior explorers talk about finding quality companies with excellent discoveries and a journey in making ten bag and plus gains over years - not days and weeks.
My own gains here were only 'quick' because I had the funds to buy a large volume of stocks after the discovery hole (where GGP was being ignored somewhat despite those grades), so while I paid a premium - I missed out on years of volatility and stress, always a cost of some kind - be it time or money.
Judging GGP once Havieron is in production (or of course perhaps monetises Havieron in another way) will be most apt, I've never advocated investing in GGP for the short-term, its a long hold to see the true potential - as is any junior explorer, although I'd argue that the pace Havieron is being developed in is hardly 'slow' compared to the industry norm.

Dear me - Colin, Eric and BiggL - these guys really do derive pleasure from winding up fellow investors and I can't help wondering why. I don't think this lot are paid derampers or shorters, just seem to enjoy winding people up to help fill some gaping hole in their lives perhaps?
Once again, Paddy posts evidence that very talented people are joining the team, people who would not struggle to find employment elsewhere and probably not looking to be employed in a job for a few weeks before a takeover transpires - as no guarantee they would all keep their jobs and would receive very little redundancy pay.
If I was interested in a job there and being interviewed I'd certainly have done my homework and asked the question of Shaun of his outlook for GGP before considering accepting a job if successful. He is very obviously looking to replicate the success he helped build as part of the senior leadership while at Northern Star Resources - but with himself at the helm at GGP. The StockBox interview last July assured me his background and understanding of the industry is sound and thorough and he is proving to be an excellent CEO IMO.
While I expect that a good 5% valuation, more excellent drill results (particularly if positive on the E.Breccia and new targets) and the MRE will help us return to a far better SP, I do think we need sentiment and money to return to the sector (which it will IMO in 2022) to really see us fly again.
Will patience be rewarded is the multi billion dollar question really - I think it will. :-)

Not really going to see massive interest in most of these stocks until money returns regardless of news IMO.
Probably just day traders at mo looking for a few pennies from the RNS.
Really need production/JV type news now and that won't be in the very short-term - but a mixed blessing in a way as I'd rather far better sentiment in miners/juniors when it does so we feel the full benefit :-)
Things are progressing as we hoped they would on Han*ock and with Brockman and activity will pick up by Q2 as it always does in Oz.

If you're trying to ascertain a potential value for the 5% option SB then you need to do more than use a comparative transaction basis to find a median, SRK created a range of values in their valuation for Kharmagtai from which they could best ascertain the mid-range value as being 'fair' for instance but the range was very wide. They based their decision to use the mid-range value on factors such as the development status of the project - not because it was the mid-point. From memory they went with a range above the median for the exploration targets, SRK also used a Metal Transaction Ratio approach due to the Poly Metallic aspect in the example I broke down last week.
As with Valmin Code aligned valuations, it might also be prudent to ensure you undertake secondary methods of comparison to support the primary method you use (not just Market, but Income and Cost based approaches as per the Valmin Code) - as both parties valuations may be assessed along these lines potentially if a 3rd party is brought in to determine which valuation is closer to FMV, (failing them coming to final valuations within 10% of each other.
Also as SaS has pointed out, your constant focus on communicating 'issues' with tax perhaps relates to having never run a company/your own company. I have the same approach as SaS that the more tax I am liable for means the more money I am making and of course.....having a good accountant to be as 'tax efficient' as possible is worth its weight in gold :-)
While you obviously have experience in fund management etc. - you don't seem to have the requisite experience/ knowledge to be running these calcs IMO. It was why I was happy to break down the SRK valuation but decline from coming to any strong observations to correlate towards a potential valuation for Havieron.

Ah yes there were a lot of UKOG investors in GGP not liking DL's (or old Potato Head as I like to call him lol) twitter campaign on behalf of GGP.
TBF to Max - the guy has a great background in helping to understand engineering/mining etc. - especially in WA - but IMO he is very much a trader now first and foremost and no loyalty to those invested in his projects either. But he does have influence and he would have a good understanding of EH/Munni Munni and our iron ore prospects as much as anyone does from teh outside looking in.

@Have to agree Zoros - I see NCM bidding for Havieron rather than GGP as more of an attractive proposition personally, they could use the FS as evidence of ROI to their own shareholders. Far harder for them to justify buying the rest of our portfolio outside Juri perhaps - so IMO NCM will be more interested just in Havieron and leave us to continued exploration.
From their perspective, we'll be well funded if they buy Hav and far more agile than they could ever be with exploration due to their own internal red tape.
With a sale of Hav conducted amenably we'd still have the JURI JV and could still work with them for any new discoveries in the region (such as at Scally fingers crossed) for processing at a minimum at Telfer, even if Shaun decides to go for a more solo approach on the exploration/development side.

Hi MM - it will vary from state to state and of course country to country - but across industrial sectors we're talking about decarbonisation, carbon neutrality etc. being brought to bear on the likes of CRMC's, mining companies etc. Also, look at marketing/PR efforts nowadays in terms of highlighting use of recycled materials both towards consumers and investors too.
If you look through the annual reports/presentations nowadays for many related companies in these types of sectors , you can see a huge impetus in trying to implement initiatives to reduce their carbon footprints and focusing on existing success they have shown. I even noted of a majoe Jewellery company promoting the ESG initiatives of the mine they sourced their Gold or SIlver from, was a while back so can't recall specifics but was quite an interesting slant on their marketing I thought at the time.
The above and the resultant demand for concrete with the planned infrastructure spending in the States should bear well for SRES in the future IMO.

Hi Zoros, I did email GGP about what would happen if NCM put in a bid for our entire stake in Hav this weekend, probably best fi a few do so they know it's a question many have. Of course if I hear, I'll post a reply here :-)
As investors we have to exercise a 360 focus and speculate on any and all outcomes and then prescribe our own probability to it - and also a strategy if for instance it’s GGP selling it’s entire stake in Havieron, I have to think about what will I do then etc.? The Flow Chart approach as such and in some cases, we’re more passengers to fate unfortunately.
NCM either bidding for our entire stake in Havieron or the entire company are feasible scenarios (in that they can’t be regarded as completely impossible) but we all have our own opinions on IF they will happen, WHEN they might happen and at WHAT price etc.
The IF, WHAT & WHEN is fine to discuss IMO, what these platforms are for, I didn’t see NCM triggering the 5% option this soon but I never discounted it as a potential scenario, just because I don’t want something to happen doesn’t make it less feasible.
Some might be correct and they bid for GGP soon, or they might be wrong and NCM don’t, or they just bid for Havieron or perhaps just purchase the 5% or……. they don’t even go for that as the valuation goes against their desired outcome .
Personally, I think if NCM do want all of Hav or GGP they’ll probably need a FS in hand to help justify the ROI. I hope I’m right if they do take either route - the earlier it is - the cheaper they’ll need to pay probably.
Not long till Feb when we see the updated/upgraded MRE and the 5% FMV outcome - it’s pretty exciting to me, we KNOW Havieron is special, of course it’s going to be chased after - rather be in that boat than the other 2999 explorers still looking for their Havieron :-))

Max, he is also a pump and dump merchant of much magnitude, not well respected in many regards by many retail investors despite his obvious experience and skills.
He chose a certain path IMO when he could have gone another and garnered more respect. He certainly raised hackles and concerns when he was constantly talking GGP up as many there had negative experiences of him from investing in some of his own projects.
While I agree he knows his onions, especially in this region so it is interesting he see's the potential here, I would be happier if we were off his radar personally.

Share prices are just an indicator of sentiment not true value surely, which is why FMV will be quibbled over using other factors unrelated to the share price.

Ha, 'WHEN not IF' that should have read lol

Nothing wrong with Tech - the modern world runs on it but TBH I'm very well versed in that sector so perhaps less confusing to me , but I did my homework with this sector (and still am) and effort leads to results:-)
Like every sector - there is always some money to be made, the tech sector also has emerging sectors and companies too - just need to find the quality companies with potential in the right sectors early, my biggest winner since the pandemic is an EdTech firm, one I identified just before the pandemic.
Much the same factors that brought me into UFO - I'm trying to be early to the party, not join late and pay a premium, the tapering and other fiscal policies seem set to engineer a crash and then a return to sentiment to this sector, just not on the timeframe many of us thought - think we'll see this start to play out in the next few months - IF not WHEN IMO.

How could PC articulate a response with 100% accuracy to that question MM, it would just be an opinion, I'd rather research the answer myself than rely on his opinion, especially when he has a bias to talk about a near term demand for Pozzolan. Many excellent forecasts show very attractive potential and market growth for both Pozzolan and Perlite.
There probably is a fairly abundant supply of fly ash in the near term in the States - but where SRES will do well is (as with the CRMC PC is in talks with currently) - that most should be looking into Pozz and other ESG related matters. Certainly looking at the pressures they face from legislative, financial and social viewpoints, delving into their strategical focus shows that most are very much focused on these areas.
As I have said in the past, 'they' will want to be very thorough in regards to testing and negotiating - but we should get the news we want as they've moved on from just testing, so I expect a positive outcome here :-)