Member Info for DRB83

Is at surface. Let's see.

I'll be happy with another tick up today as we approach AC results. These AC results should provide an indication as to just how wide this plunge

eh

mm

or han****???

patience required here. next real sp movers are:

han**** deal

eh mre

i think the eh mre will lock in a bottom of 0.2-0.24, which is current resistance.

a han**** deal has the potential to send us over 0.5 and then steadily increase as cash starts trickling in.

han**** could literally happen anytime given we've never had an actual deal update (for obvious reasons)

eh mre is likely to happen after phase 3 so back end of summer most umo.

patience required but it'll come.

i did miss another answer though that we all know but some often forget.

wce is worth £34m and has 70% of eh

this implies that our 30% is worth £15m

our 8.5% in wce is worth £3m

that's our current mcap right there. so what's not being valued by the market:

our free carry to dtm is probably worth tens of millions but let's say £5m to keep it real.

30% mm

free ride to bfs on mm (millions in exploration costs)

£3m in gre shares

£2m cash (no dilution in 2026 or possibly ever again)

90% han**** (access grant and an offtake away from a deal)

that's another pretty good reason to put your money in ufo and not wce directly but of course dyor.

Chris, lth know its DTM and the point is still valid but you're right to address my mistype. It was late.

If you think im lying about something then call it out but at least understand the difference. I have no reason to lie on here and given some of the company we keep on here, it is rather insulting to insinuate that I have.

The question was a simple one with many answers. I provided several. If you think investing in WCE directly is the better option then I'd be interested to here your thesis.

West Coast Silver is 70% EH and probably has 2-3 more raises before we get to production.

UFO has:

30% EH and a free ride to production (minimal risk)

30% and free ride in a monster PGM (minimal risk)

90% Iron ore and very close to production

17% exposure to the Whundo gold mine

Cash runway to 2027 with £millions more in liquid equity should we need to use it.

There's more but hopefully that answers your question.

Nooooooo, so we end the week 3% red to end our green week run. Not the end of the world given the volatility in the market. Possibly next week we get AC results, that will feed into the technical review the week after which will feed into the release of the EH plan the week after that. The plan will include Phase 3 drilling, processing plan, map to MRE.

All yall watching the daily sp movements but that is controlled by traders. Sp action will never make sense when traders are in charge. The fundamentals are what count and ufo are steadily climbing up the value curve on at least 2 fronts.

Sit and hold and accumulate when possible is my current strategy

quite the opposite ib, the company is seeking experienced strategic investors and they will arrive as soon as the projects have de-risked to an acceptable level. there will be plenty of de-risking events for ufo throughout 2026.

unlike 2020-24 where eh and mm just sat there going nowhere and han**** stalled, now we have major traction on 2 and a board of 4 including one iron ore expert, one financing expert and one project monetiser expert who have nothing more to do than focus on han****.

amazes me how some on here can't join the dots yet. it's evolving in front of our very eyes but the nellies are blinded by the past and the trolls, well they'll just do what they do as they do with every aim share.

Worth noting that in the last 3 weeks:

WCE sp has gone from 0.25 to 0.19

GRE sp has gone from 0.13 to 0.105

Silver gone from 90 to 70

UFO sp has gone from 0.12 to 0.16

My point being, the recent negative sentiment is not just isolated to UFO and despite the volatility and a recent placing at 0.09 and warrants at 0.135 the UFO sp has held up quite well. Even th 2.5bn extra shares in issue haven't managed to stop the climb.

UFO has transitioned from heavily dilutive explorer to project generator and now has:

the strongest balance sheet it ever has

Cash runway into 2027

2 projects being fast tracked free of charge up the value curve

The smallest monthly cash burn it ever has

The strongest p&l it ever has

The market is slowly waking up to this fact and the last one to join the dots will make the least amount of returns.

Look past the noise and with a little rebound tomorrow after 3 red days and we could have our 3rd green week in a row. I'm happy for the sp to just keep slowly walking north.

AC results next followed by technical review results and phase 3 drilling plans. All in next 3 weeks imo.

We're probably not quite there yet to be attracting the strategic investors but we get closer each month.

Its a sit and hold and let BG bring it to us.

Chris, now MM transaction is complete. The UFO board have nothing to focus on other than Iron Ore. The access grant is pivotal here imo in terms of news flow. An update is coming and it will be in the next 3 months. What's another 3 months.

so next up:

eh - ac drilling results- mid feb

eh - technical review results - end of feb

eh - phase 3 targeted drilling plan

mm - phase 1 drilling complete - feb

mm - phase 1 results - mar

mm - updated modern mre - april

han**** - access grant - by april

han**** - update on offtake and contractor partnership

all 3 projects progressing nicely up the value curve over the next 2-3 months. this is what actually matters today. the markets haven't got a clue how to value anything at the moment. i plan to ride it out as i have the last 6 years. ufo have progressed up the value curve more in the last 12 months than they did in the prior 5 years. more importantly, they are funded and set to progress more up the value curve in the next 12 months than they did in the last 12 months. nellies will keep comparing us to 2-5 years ago and tbh so is the market currently however, it's obvious to me that that is not the true value of ufo today. the market takes time to realise this. the key is to build your position before the market realises. 2026 is the year the market realises imo. gla

depends on your angle ib. the sp is higher now than when we closed last week. we are on for our 3rd green week in a row. unless you plan to sell today then today's sp matters little. its actually performed within expectations. its a traders share still. soon we'll get the strategic holders buying in and the free float will reduce significantly. traders love risk. as ufo continue to de risk, traders will play their games else where, further reducing the free float and further reducing these high volatility days. eh, mm and han**** have all got processes to go through. today eh advanced up the value curve closer towards a mre. that is where the next step up is. these daily swings in sp shouldn't matter 2 hoots to the lth.

Fair question AJ.

At the high-grades eh has and the corresponding margins and being so shallow, the mining costs to get the silver out matter very little when comparing granite to ultramafic.

The significance of the granite find is that prior to today we assumed the silver ran through the ultramafic and then stopped at the contact with granite. This thinking led the pros to believe we had a limited exploration target. Todays find opens up a new thinking which now massively opens up the exploration zone. That is not bad news, that's upside.

Today’s ~20% drop looks ugly, but it doesn’t reflect a failure of the Phase 2 results.

Phase 2 didn’t aim to suddenly make Elizabeth Hill much bigger or deeper — it aimed to clarify and de-risk the system. That’s exactly what it did:

* Multiple high-grade and bonanza hits were repeated and validated

* Geometry is now predictable and bounded (southerly plunge, near-surface broadening)

* A real NW strike extension was demonstrated

* Granite-hosted mineralisation expands the search space

* Deep drilling showed halo, which actually helps constrain the system

What likely drove the sell-off:

* “Sell the news” from traders positioned into the halt

* Some disappointment that there wasn’t immediate deep or wide expansion

* Thin liquidity exaggerating moves

* No instant JORC or mining headline yet

Importantly, nothing fundamental broke today:

* Continuity is intact

* Grades are intact

* The geological model is stronger, not weaker

This is more like an expectation reset, not a thesis failure.

Plenty to look forward to:

* Aircore results mid-Feb (near-surface and NW targeting)

* Clear detail on Phase 3 drilling (definition + strike extensions)

* Progress toward a starter JORC resource and near-surface economic work

Phase 2 moved EH from “interesting” to defined and predictable. That doesn’t always get rewarded immediately in a retail-heavy market, but it’s usually what value is built on.

Worth staying calm and judging the next steps, not one volatile day.

Elizabeth Hill Phase 2 – measured take

Phase 2 didn’t suddenly make EH “bigger”, but it made it clearer.

Key takeaways for me:

* Multiple high-grade and bonanza intercepts were repeated and validated under modern QAQC, not just one-off spikes.

* Mineralisation is predictable and structurally controlled (Munni Munni fault + ultramafic–granite contact), with a confirmed southerly plunge that broadens near surface.

* A genuine NW strike extension was demonstrated (25WCDD019), tied to a fault flexure — that’s real lateral upside.

* Granite-hosted mineralisation is now proven, which expands the search space, even if it hasn’t yet added scale.

* Deeper drilling mostly hit low-grade halo, which actually helps by bounding the system and avoiding false depth expectations.

What it didn’t do:

* No major deep expansion.

* No blanket widening of the mineralised envelope.

Overall, Phase 2 was definition, not expansion. It de-risks continuity, validates the historic model, and sets up a credible path to a starter JORC + near-surface economic assessment. Re-rate material in a confidence sense — further upside now depends on Phase 3 step-outs along strike and near surface, not depth.

What I now expect now we have a more defined zone is a mre somewhere in 4-6moz. That's conservative and doesn't consider the open at strike. Just taking 5moz mined over 5 years at $100 profit per oz with our 30% gives us $30m per annum cashflow. Very small overheads. That's just 1 of our assets.

MRE in the summer, mining in 2027. Not that far away. GLA

IBM, yes wce is closed for trading as per the rns

requests the trading halt to remain in place until the earlier of:

〉 the Company releasing an announcement to the market concerning the exploration results from

Elizabeth Hill Project; or

〉 the commencement of trading on Wednesday, 4 February 2026

The 'earlier of' indicating that an announcement could be released before the 4th. As WCE did not announce anything on Tuesday, we can now be certain results will be announced before open Weds or UK tonight. What we also know is that the professionals believe these results will significantly move the wce sp. One thing for everyone to consider. A drill miss confirms nothing, a drill hit depending on the result could have huge ramifications on the sp. Based on that, we have lots to look forward to imo.

I don't think asx is closed until Easter barring weekends of course. Results could land tonight. I just don't think they would have made such a song and dance about poor results. Remember, these results were initially intended for release mid December. I think they have found something material. A 2nd pod, stacked shoots, extension at surface. Lets see.

Great timing really. Wce only lost 10% on Friday before the metal market crashed, probably due to results delay. Looking at GRE, today would have been another 20% or so. Hopefully by the time Wednesday comes round, the correction is complete and silver starts trading north again.