Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sorry it defaulted to strong buy on the opinion. I have started turning these to no opinion from now on.
Morning Pops,
I am optimistic for the new explatory sites. Greenland application was a good move from where we sit now. (but await more information)
The Munni Munni East complex could be a banger. I was in EEE and its a cracking area, I think that will return good results.
Before diverting too much money into new sites; personally I believe we should be looking at getting Elizabeth Hill and the Iron ore farm ins sorted out ASAP. Those 2 projects are already developed or have readily accessable partners neighbouring them with all of the infrastructure. (Dipen made a cracking graph with the rail routes / ports etc)
The exploration is what BBG looks to be most comfortable with, and he has picked belting tenements in the past.
Thanks wents. Hope your keeping well. Look s like I will be joining you in the naughty corner!
Not quite sure how that could have discredited me. Look at the boards profiles and BBGs personal one from his consultancy. Looks like it should be akin like rain on an old tin roof.
Thanks for your contributions.
Yes virtually.
I did write this. As in the business strategy of explore, prove up, farm in. Rinse and repeat.
How the board choose to commercially achieve this is another matter. (I. E - Timescale and simultaneous)
But I appreciate you only highlighting part of my post in order to try and discredit me. Nice try though.
Max,
There was no new information to those who have already researched the companies current project portfolio and position. I listened to the webinar and have read all RNS to this date.
But rather than believe there is no progress or talks, you defend the board by saying its the P. I's that are not savvy enough to understand the masterplan.
The question was asked to the previous speaker, but I am pretty damn sure all of them on that call would have been listening to the other interviewers, and he could have addressed it at his Q&A. (unless of course, he had nothing to say on the matter, then you would stay silent)
You believe the lack of dilution is true because BBG said so. I have experience of lack of transparency first hand, so I don't think it's worth discussing this point any further. You obviously believe him, and I have lost trust and he needs to regain it. Besides, no CEO is going to turn around and say 'we will not work in the best interests of our shareholders. ' even if they intend to do so.
You disagree with staggering the projects and would simultaneously crack on with them all, requiring all the dilution upfront for exploration, drilling and proving up. I guarantee you, that buy staggering them, through natural organic growth of the business, you could end up in the same place later on in time with a lot less shares in circulation.
Regarding Mexico asset. If its not safe = no permit. COVID will cause delays but again, more delay, more time to jump into other shares and come back into UFO.
As for the Donovan II. It was a great deal for Capstone, an excellent one. Without being disrespectful, it cannot be hard to sell a potential tier 1 copper mine at the brink of a global EV revolution. Let's be real, if it does prove to be a tier 1, maybe UFO should have proved the resource up more to get better value for it instead of flogging it to focus on other projects. I always felt BBG never cared about D2 much.
I woud not compare UFO to GGP. We almost run the risk of having the same shares in circulation, except we are at 1.2p @ 41Mn Mcap and they are at 32p @ 1.2Bn Mcap
I hope so regarding the warrants, but I await and see. It would be another own goal if they decided to exercise them.
And finally as for them being a small team. I thought this myself until I re checked their accounts today. They have administration costs of circa £1m a year. How is this possible for such a as all team... I would at least expect a response within 2 week.
Well at least we can agree on one thing though, Max.
We both want the same thing here, we just have different management styles.
Thank you DC.
It sincerely comes from a place of respect and desire for UFO to succeed. The board need to learn from these mistakes (or be aware the share holders will not tolerate it) so we do not find ourselves here again.
Hi Max,
He hasn't actually given any new information for the funds. Other than they were fully funded until at least end of Q1 2021 to we need an extra £2.5m a week later. I mean absolutely no information on the buy in on the other 49% from windfield.
I did consider UFO a long term prospect. DID. However my main concern was the dilution, and a share placing at 1.1p has caused unnecessary dilution and it couldn't have been at a worse time.
As for the new II's getting in. That's brilliant. But not at the expense of the current share holders. I. E all of us on this board. If they wanted in they should have firmed the iron ore assets up and gone for a premium placement. (after all, they allowed the SP to run past 2.5p with that RNS update so they must have thought it was fair value.)
As for getting locked out of the Mexico assets, I doubt it. The fact they were deemed unsafe will take due diligence and time to sort out. (can't fast track that either with £) which I agree with, it needs to be done properly.
My strategy would be to timeline projects and stagger them in so by the time we are proving up the 4th - 6th, projects 1-3 will be on farm in and contributing, allowing for smaller capital raise through dilution at an advanced SP. But what would I know, I'm only a businessman.
Personally, from my commercial experience, I see decisions being made incorrectly out of a lack of experience, or purposefully with shareholder value not being the primary mover. (Donovan II, if proven to be a tier 1 will be laughable at what we let it go for)
You are right though UFO can double and triple, but usually retraces on par with its high beta value.
I am keeping a wedge in here because it will multiply from current SP But it gets tiresome watching all these excellent prospects slowly get eroded by dilution.
I certainly hope those 200m warrants outstanding for January next year don't get exercised, I mean they shouldn't do. Afterall we are funded through all 2021... I've heard that before as well.
I only hope Bill reads this. Because I am struggling to get the enthusiasm back for this share. Multiple emails sent to the investor team and no response back, I guess I have just turned mercinary with it.
Before anyone questions whether I am a shareholder because I am bashing UFO. I have a lot of money invested here, we own a part of this business, and if we don't like the decisions made we have the right to exercise our concerns.
It has an excellent future ahead of it; I want to see it kept that way.
Who cares if it dies, as long as it hits 20p beforehand...
I'm with Turbo on this and am doing the same.
Provided you can find the right stocks now is the time get your trading going.
There is plenty of potential out on the mark et which is severely undervalued. UFO has done this to themselves through heavy dilution at low SP's.
Good news though is that it gives people a chance to buy back in with more shares.
Max, how will the extra money fast track news? This was my issue all along. You cannot fast track lab results, you cannot fast track COVID, you cannot fast track the winter in Australia.
Just what is being fast tracked? The Mexico permits. If he said the funding was needed due to unforseen health and safety issues with the entrance to the silver assets then I would be happy, but there is no fast tracking going on.
Absolutely Moj, unfortunately if someone is disappointed in them only being a explorer / developer; then they have failed to research the company appropriately.
UFOs business strategy is beautifully suited to the boards experience and fits in well with the current culture of evolving opportunities for in-ground commodities.
It is very rare for a explorer to become a producer.
(subtle ramp but SOLG could be the exception to the above rule)
If EUA sell before this flies, my profit is being recycled into here.
And I know I will not be the only one thinking the same.
I do think it's classic of LSE to remove and moderate Mojo's posts when a large majority of posts I have seen on LSE go unnoticed for speculation, potential insider information, even personal insults and hate text.
Someone posted information which was up for debate. So rather than talk about it we employ censorship and remove it. This is just as bad as filtering people as it provides a bias single sided board.
Still, LSE aside, looks like it's starting to heat up for ECR.
Pretty much sums up why I longer care to contribute here anymore.
Good luck all true UFO holders.
Dip has actually done a lot of work on these images. Which is more than can be said for the 98% of crap talked on this board.
Thanks Dip. Good, constructive work. Rail and infra links would be invaluable!
A lot of a angry people on here att a time when they should be giving their wives / husbands a good seeing to.
Ahh I see. I'm a celebrity is on...
iPhone, I can wait weeks for it to hit 2p. Not really a problem.
This is just going to take longer, that's all.
Wake me up when we get 2moon.
Problem is MK, is that for a lot of people, like me, Steve, TKIA, Turbo, Shous etc etc; this will be difficult to regain back in words.
Speaking for myself here, they will need to do this with results now. Better JV, better terms, no more delays.
They have no excuses now. Cards on the table, this is now a commercial share for me. I invest. I want value returning.
I don't want words, I want results.
Max, this has never been about the placing.
But the trust in the board and the true motives.
This is upto them now to heal the fracture. I certainly will not forget it. But let's see what they have to say first.