Member Info for Dip666

Kitco Interview: https://www.youtube.com/watch?v=f8kvzuYEzjY

Twitter thread on his outlook: https://mobile.twitter.com/TaviCosta/status/1452845089080811523

I'm sure they will reuse the old assay results but everything may need to be recalculated to 2012 standards, also the 1999 JORC MRE was a combination of indicated and measured, they'll want to move the indicated to a measured category I assume over time.
HH pointed out a while back it isn't a definitive method to calculate things, more so guidelines you can use with a variety of techniques to then get to a JORC standard MRE, so perhaps they use the historical assays and add more drilling density to recalculate a new MRE with differing inferred, indicated and measured categories, for instance the new areas being tested won't have enough data to support anything other than inferred I assume but it should then be recategorised in further drill campaigns.
More i consider it, makes sense to bring everything up to date as we're now trying to grow the resource - it isn't a negative point at all :-)

Not sure MP, I can't see how you simply combine two differing JORC editions, the 1999 JORC is two editions back now as there was also a 2004 edition of JORC standards. Wish we had some Geo's in here!
I'll submit a query to find out as wondering if they just need to do more work to bring the 1999 JORC MRE to 2012 standard or kind of start from scratch - worth getting some clarification as the latter probably takes more time.
Your 4Moz calcs did not account for the already mined 1.1Moz and it is Munni Munni not Muni Muni, fingers crossed we have 10Moz plus there - but let's get some results back and start building a proper picture of potential else 10Moz projections just seem like ramping unquantified by anything factual -)

This is my understanding, the old JORC MRE using 1999standards was for 4.05Moz and approx. 1Moz mined so leaving a fairly accurate assessment that of what they knew about the resource then, there is around 3Moz still to be mined, Bill did comment in an interview they were confident so far it was accurate I think.
Bill and team will now as Prospector says build a new Maiden inferred MRE compliant to the 2012 JORC edition and then further drilling over time to update inferred to indicated to measured etc. and increase overall resource size of the silver I guess.
Hopefully, the Poly Metallic Halo comes into play too and of course we have additional Munni Munni exploration to factor in so fingers crossed :-)

Actually 5x5 - if the team submitted the initial 10 samples the same week or just after that RNS on 6th October, Bill is indicating the lab has said they'll get those back in 6-7 weeks in November at some point.
Therefore if they now submit the remaining 14 say by end of October, that suggests mid to late December for those if the labs can process in 6-7 weeks.
Personally I think, let's see how long the 10 initial samples take to be tested and reported and then assume the same timeline for the last 14 that have or are being submitted :-)

Below are the previous E.Hill Drilling Update RNS highlights from 2 weeks ago mate. I'm assuming we get the 10 drill results mid nov and the rest have just been submitted or will be as they just completed them a few days ago .
I do think labs are still giving 2-3 month lead times - so yes probably early next year for those.

Highlights:
• Ongoing drilling at Elizabeth Hill continues to produce visible sulphides
o Visible sulphides and native silver have been observed in core and RC chips, which
appears to support the Company’s view that a larger polymetallic halo exists around
the original high-grade silver deposit
o Drilling to date has provided important QA/QC validation of historic work and helped
identify new mineralisation
o Excellent quality core attained, which has been logged, cut and despatched
• Currently, around 753m has been drilled as part of the ongoing drill programme at Elizabeth
Hill, including:
o 211 metres of diamond core drilling (4 holes);
o and 542m of RC drilling (6 holes)
• 14 RC holes for approximately 1,100m remain, which will test targets along strike of the main
orebody and at the nearby J-reef

*How has E.Hill drilling gone, have you intercepted silver and other materials and also expected timing for lab results?
- Maiden drilling just completed, beautiful intersections of pure silver and also sulphides more associated with copper and nickel from XRF readings (not final lab results) but theuy are good indicative results and need to be backed up officially by lab results
- Excellent intersection from cores from historic ore body (shallow northern end of ore body) delivered higher amounts of silver than expected and also at deeper depths outside the original historical resource model
- 6-7 weeks turnaround promised by labs, so middle to end of November pegged for first results hopefully and will be used to help build next stage of work.

*Potential lead time to first development for Han****?
- Need permitting, environmental, heritage, native title studies etc. to convert exploration license to a mining one as per the usual process
- Lloyd Edmunds onboard in Perth with experience at Fortescue https://www.linkedin.com/in/lloyd-edmunds-98600050/
- 18 months from now if no major issues to commence production
- Permit work is current and ongoing for exploration and Bill is sourcing the right company to commence the studies in a costly and time efficient manner.

*Munni Munni prospectivity near E.Hill?
- All a big associated Munni Munni intrusion area, another non owned PGE deposit already defined in the area and part of UFO land packages contain historical PGE anomalies and also some exposure to Hunters Reef which is associated with that main Munni Munni deposit (not on Aliens ground) and it crops up inside our tenement. (In Aero-Mag slide).

*What the process is for going into production for Han****?
- Studies as detailed above
- Lloyd is looking at mobile mining and suppliers etc.
- Bill focusing on drilling programs, MRE category updates via increasing drilling density via DC drilling to help achieve this and also get the resource increased by another 10 to 20m tonnes within Han****.

*Working remotely from Australia?
- Challenging not being onsite due to the practical experience Bill has
- Fortunate with the Chairman Dan being in place in Perth and great consultants to collaborate with too
- No communication issues via daily zoom type meetings around drilling for example
- Preferable to visit in person and hoping to do so around Easter 2022 but happy with progress to date on all Australian projects despite the Pandemic
- Hoping to get E.Hill dewatered soon to be able to go and investigate historic workings
- Mexican projects undrilled yet, but team working to get to that stage and get back on track.

*Mexico - Donovan 2 Copper project
- As above
- Finalising updated drill permit to go and drill Los Alamos water well target planned.

Q & A Session

*What are the cash costs and expected dollar per tonne margins on iron ore on Hannock?
- Scoping Study looks at around or below $60 per tonne FOB, so $60 per tonne profit on $120 current price with Year 1 at 0.5m tonne ($30m) and Year 2 at 1m tonnes production ($60m)
- Even at $100 price, 1m tonnes per annum production is $40m profit per annum.
- Price outlook varies hugely amongst analysts, hard to predict but running numbers at conservative $100 per tonne is still very profitable
- Steel and Cement are main products in construction for all of these global infrastructure plans and bodes well for iron ore demand.

*Have any other similar projects worked in Australia (and something else re. rail, truck and port)?
- Yes, Fenix have accomplished a project from maiden MRE to now starting production in 2021 and doing what UFO plan to do and doing it very well
- They are mining and trucking DSO to Port Geraldton across same sort of distances, recent quarterly displayed excellent income and future potential for their operation.

*10mt size to date, what is the potential size of Han**** and also Brockman?
- Tested only 2km of ridge systems yet, could be 10,15,20 and up to 30km of lines of ridges of potentially repeated iron ore beds at surface at Han**** - significant upside
- Brockman has that recemented type of iron ore that is often very high grade, BHP and RIO have been drilling at boundaries too for this same kind of ore so can be assumed we may have great potential here, but hard to define numbers yet.

*Brockman further west
- 2 historical BHP targets nearby, 3rd to south
- East Kanga type deposits, reworked from originally very high-grade material that becomes sedimented, broken down and repacked and often runs as high or higher than original material, limited work so far indicates potential for up to 65% DSO, as high as it gets
- Permitting probably in place for work to commence at some point next year.

*Elizabeth Hill
- Historically produced 1.2Moz Silver from 1998-2000 at 2,195 g/t Ag with mining stopping due to low price of silver at time , around $4 per Oz
- Previous JORC compliant resource of 4.05m Oz at greater than 200 g/t Ag
- Surface resource and depth extension of High Grade below 100m is untested
- Poly Metallic Halo of Copper, Nickel, Cobalt around Silver also untested
- Checking potential of re-opening of underground workings
- Located only 40km, south of Karratha regional centre
- Drilling program just finished in last few days and Bill now shows new Aero Mag data on a slide with a prioritised view of 24 targets
- Munni Munni license wrapped around it provides further compelling opportunities.
*Mexico - San Celso and Los Campos Silver projects
- Mexico hard hit due to low vaccination rollout
- Looking at ways to support communities to help enable drilling to commence and need to get required permitting in place

Video: https://www.youtube.com/watch?v=Wv2EtlNjglQ
Slides: https://www.alienmetals.uk/wp-content/uploads/Alien-Metals-Corporate-Presentation-October-2021-Presentation-with-Videos-Embeded.pptx

Main Presentation
*Board and Management
- New addition Jo Battershill as corporate advisor |: Initially a Geologist with 25 years plus experience across Ops, Business Devt. and finance areas.
https://www.linkedin.com/in/jo-battershill-85b49252/

*Commodity Outlook
- Iron Ore - volatile but long-term outlook remaining strong
- Silver - as above, increasing industrial use and also being used as a store of value akin to Gold

* Han**** Project - Maiden DSO resource defined in 20 months
- In just 21 months, the team have managed to announce 10.4mt @ 60.4% FE resource on Han**** and it is Direct Shipping Ore (DSO)
- Extremely encouraged with initial resource, feesl lots more to come from Han**** and Brockman.

*Visual Flyover
- Ridges C & E continue for at least 9km, whole other series of untested parallel ridges they feel have identical geological components and the +potential to host more DSO.

*Han**** Project - Inaugural Scoping Study
- Maiden JORC MRE defined from only two RC Drill campaigns and restricted to optimised open pit shell at Sirius extension
- Optimised pit shells at 100 USD/t results in complete ore body extraction for an optimal mining plan with extremely low Strip Ratio and less than $30m CAPEX fully repaid in Year 1 of production with £1.25Mt / annum with a half production schedule for Year 1 initially.

*Key Scoping Study results Han**** Project
- Less than $60 USD FOB to port based on near identical project in production (Fenix?)
- Free On Board includes mining, transport, royalties and port costs
- Near 1:1 Strip ratio on Ridge ore bodies and only 1:1.8 on Sirius Extension Pit
- No requirement to build railway, port or large processing plant, can use cost efficient mobile screening and crushing units across kilometres of area.

*Mining Parameters very simple
- DSO contained within Ridge tops so direct access is optimal for Surface Mining units, this option provides great future green ESG credentials such as solar power and minimises ore movement too.

*Huge additional resource potential in remainder of tenement to develop
- 1.5Mt DSO on Ridge E from 1.2km strike length but runs for a further 9km east
- 1.1 Mt DSO on Ridge C within 0.9km strike length and runs a further 7.5km east
- Several ridges running parallel to both ridges across tenement and 70-80% of tenement remains untested
- Phase 3 drilling planned for Q4 2021 with aim of initial MRE of Western Ridges to extend known mineralisation and to upgrade MRE.

*Han**** Logistical Flyover
- Tenement neighbours such as Rio, BHP, Fortescue, Han**** Prospecting who may be interested in our resources
- Access path to Great Northern Highway with 435km route to Open Access Port at Port Hedland and to Utah Point Public Berth for clients to bring in t

Hi BB - 3p wasn't justified last time mate, I didn't agree with that or the 10p by xmas 2020 predictions mate, most of those predicting these soon disappeared too.
Hopefully people keep their feet on ground this time as the sector sentiment and silver price for instance still not optimal so we may struggle to achieve what we feel is the 'true value'. We'll hopefully be starting production on a standalone Fenix type operation in 18 months so I'm holding firm for that.
As Bill said, great indicative results on E.Hill too through XRF that should be reflected in some very interesting maiden drill results that could suggest a larger silver resource and evidence of a poly metallic halo around it - that should also help pick up interest again in UFO.
Hopefully during 2022 we get some additional exploration success that results in a JV on EH and/or Hammersley tenements and get the resource and experience of a major to help push production potential across the Oz projects, again, regardless it seems as if a standalone iron ore operation in 18 months is looking very feasible from the initial scoping study.
Brockman may provide even higher grade DSO yet too, go through the presentation - plenty of potentially very positive growth catalysts ahead :-)

So what Wolfy, I've managed international marketing projects for a global IT firm from my home office, also managed foreign employees from my home office and had materials being produced overseas that I personally can't review or check without issue as far back as 2000's.
As he is a geo it would be great to have him out there, but other CEO's in this sector come from a non practical understanding / experience so it wouldn't even be a big deal if they were onsite or not, not every mining or explorer CEO is a Geologist mate.

Link to Notes: https://gofile.io/d/pkW3QJ

Video: https://www.youtube.com/watch?v=Wv2EtlNjglQ

Slides: https://www.alienmetals.uk/wp-content/uploads/Alien-Metals-Corporate-
Presentation-October-2021-Presentation-with-Videos-Embeded.pptx

Link to the new corporate presentation too:
https://www.alienmetals.uk/wp-content/uploads/Alien-Metals-Corporate-Presentation-October-2021-Presentation-with-Videos-Embeded.pptx

Webinar:
https://www.youtube.com/watch?v=Wv2EtlNjglQ&t=24s

Brilliant - the Scoping Study Webinar is up on YouTube now - thats to BW on telegram for spotting!
https://www.youtube.com/watch?v=Wv2EtlNjglQ&t=24s

Hopefully as you say thelearner, NCM are letting the GGP exploration team utilise TruScan for the Scally cores as any regional modelling helps both exploration teams in understanding and hopefully finding other' Havieron's floating around Havieron' or a new deposit through the Juri JV too :-)
NCM are espousing the 'cluster' theory from their General Exploration Manager Fraser's Diggers and Dealers presentation and I do think this has factored into their decision to quickly advance to Stage 2 in the Juri JV, John McIntyre's short podcast via the PR company about the Juri campaign also had some commentary in regards to understanding IRGS deposits better across two types of styles and finding the feeder systems, would be great to hear more from him too in future after further results.

Replay's not live yet mate:
https://**********.brand.live/c/alien-metals-webinar-19th-october-2021

The experience will be needed going forward with both Hammersley and hopefully EH/Munni Munni.
Also, in the event of a JV on any of the projects it still makes sense to have these skill-bases/staff to ensure you pull your weight as a partner, a resounding sign of the positive path ahead for UFO :-))

Is there anyone who cares if Blobby isn't investing in a particular stock?
Is there anyone on the entire planet who cares about Blobby's views on anything?
Unlikely.

I took my position in Jan 2020 Bottmzup as felt the Lenovo rollout would open up some massive opportunities for Dev and pretty much been patiently holding since , I just focus on the fundamentals and feel Dev is definitely delivering on the potential to become a leading global player in a few years.
It was hard work holding through the consolidation last year after the initial boost but it really shot up afterwards and definitely feel once we see the new material contract announced we'll be on the upwards trajectory again.