Member Info for DRB83

tad, id much prefer a 60/40 deal in a similar structure as the others tbh. transfer risk and cost whilst maintaining long term exposure to what can be very high upside.

at this point han**** is priced at zero so any resolution other than literally giving it away is up from here.

if anyone can get a message to belinda for me. please hurry on this han**** deal so we can put all this negative speculation to bed. thanks

wents,

you have also stated several times with absolute conviction that ufo will 100% walk away with 2 1% deals. these are decisions that will be made many months if not years from now but you somehow already know. so calling me out for pretending to know is very pot kettle.

secondly, you say management have let you down but when they bring in new management you and a few others gave them literally weeks before deciding they were more rs puppets, lazy, incompetent and the rest and now look for any excuse possible to slate them. including nonsense like website and companies house updates.

where in the dark on han**** i agree but there are only 3 real possible reasons why.

1. the board don't care and can't be bothered to transact or drill and despite constant badgering from strategic shareholders they just can't be bothered. maybe there's something in the water at ufo and all these reputable experienced directors come and immediately just lose all interest and decide, yep not going to do anything or communicate with anyone. or.

2. rs with all of his influence in the region and his massive 5% holdings for some unexplainable reason defies the laws of business and insists on shooting himself in the foot repeatedly by hiring puppets and instructing them to not do anything with han****. i don't want you to drill it, i don't want you to transact it. nothing. i want it to just sit there. or.

3. a transaction is progressing as we are repeatedly told and the bod are in a closed period meaning minimal comms leaving us in the dark.

depending on which lens your looking through will determine what you think is going on. one stands out above all rest to me.

smiller,

there are a number of signs suggesting a han**** transaction is bubbling away, even if nothing is signed yet. the mining lease is granted, and the final access tenement to the great northern highway has just progressed through its native title process – deals usually wait for that piece to be close. ufo raised £1.8m despite only modest near-term iron ore field costs, which looks more like deal runway than exploration spend. board and adviser changes have been transaction-focused rather than exploration-heavy, and recent rns language has shifted toward “value-maximising transactions” and “advanced discussions” rather than self-development. add in a long closed period for directors, prior tier-1 interest in han****, and minimal spend on non-core assets, and the behaviour fits a company preparing to transact rather than one standing still. no guarantees on timing or valuation – but the sequencing looks deliberate, not random.

food for thought though, if rs was pulling all the strings in the pilbara, and han**** was so easy to jv, why hasn't he sorted it like the others. even tried and failed once before. doesn't quite make sense to me. it would be like shooting yourself in the foot for no reason.

Ping, I have to disagree. The addition of communication would not have grown the sp by 500%. I still believe it will grow 500%. Its only been 4 months. AIM is always a big risk, ufo is no different although I will say the management actions over the last several months have significantly reduced that risk. For me anyway.

As always, GLA with your investments.

no jvs ÷ ufo sp 0.02 imo

we needed those jvs. we would have never raised what was required.

we still talking about the website. just a distraction. there's actually no evidence that suggests that agreement isn't still active, other than the word of a troll.

why they did the deals - bm didn't do the wce deal and the gre deal hasn't officially been approved so updating now would be premature.

han**** has been in a transaction for months. bm brought in specifically to close it out imo. nomad has her gagged and bound on that and most directors would stay well away from live interviews just to avoid risking saying something they shouldn't.

again, its very plausible and rationale to assume the placing was linked to strengthening our balance sheet and negotiating position ahead of the transaction completing. if so, she wouldn't exactly be able to tell us that. what they did say is the £2m was for largely for field reconnaissance on our iron ore projects. well field reconnaissance would absorb about 10% of that cash so there's a huge amount going unaccounted for. indications are its han**** jv related but again, they can't tell us.

i think its deliberate silence due to sp accretive deals being done. some here think its due to inexperienced directors not knowing how to run a company, some here think its deliberate corruption involving several companies, several directors, several shareholders, nomads, brokers. probably the biggest scandal to hit the asx ever, happening right under their noses. maybe the asx are in on it and rs is the puppet master with his 4-6% holdings.

apologies, just a little frustrated that ufo appear to be turning a corner but not everyone is receptive to that. time will tell if im right or wrong.

gotcha. so clear something for me.

we already know in fine detail what is happening at eh. this is very well documented by bg and wce.

we already know the situation at mm, again this is being as well documented as currently possible given the transaction is still awaiting final approval.

according to you, there is nothing going on at han**** so what exactly do you want the bod to update you on. i have asked this question several times and no one actually seems to know what you want the board to update you on.

Smiller, no proof? Now you ain't going to get copies of signed ndas but we have had several comments in several rns advising us of activity. They've literally got nothing else to do. If they weren't discussing a transaction theyd be drilling, and they ain't drilling. It would appear you want to slate them for not telling you what's going on but then don't listen when they do. Rock and a hard place with that one.

Ping,

AIM is huge risk huge reward. Your investment sounds great. I'd certainly consider building your position in that one even if it means selling at a loss here. Just makes sense.

I'm comfortable with my investment here. According to the last AGM only 216m shares out of 11.55bn voted against re appointing BM and BG. That's less than 2%. I choose to get behind them rather than stand in their way.

5x5. If you believe that about MM, you must be thrilled with our deal with GRE. Just sold them a right dud.

wents, the website hasn't been updated. not a great look i agree but really, should we all sell our shares because of this lazy incompetent board. let's put to one side the jv deal on mm and the unburdening of the long term conversion debt thats been crippling us for years. maybe she should stop all han**** transaction activities until the website is updated and looking spick and span. maybe we could get her to update companies house whilst shes at it. that will add a few pence to our sp. come on trolls. is it really that hard to forget the past and allow yourselves to look forward with excitement about this much improved position we are in.

ping, saying hello isn't going to bring confidence to people spending their hard earned money in ufo. completing a mm jv and a han**** jv is. you seem to want words where as most just want actions.

you seem to think a 3 min video of bm not saying much (because she has nothing to say) is going to change ufos fortunes. it isn't and she knows it. she'll speak when she's got something to say. when she does it will be big imo.

TAD, ARV were dual listed with just a few shares trading on AIM. As a result, no liquidity. They'd been listed on there for 3 years. The dual listing lost its purpose. I know all about admin burdens of regulation so why put yourself through it if you don't have to.

Pretty straightforward and practical reason for delisting off AIM for ARV but somehow a few trolls on here yet again take 2 and 2 and somehow make 19.5436.

dip666, a few on here seem to think it makes all the difference if bm just does a video and introduces herself and tells us about her family and hobbies. its all bs, she'll be judged on actions and results and up to now she has overseen the monetising of mm and the debt reduction of bennelongs influence leveraging loan. we now have the best balance sheet we ever have and now just one flagship project. han****. not a bad place to be. none of the trolls see this as they can't get past the fact she never said hello. shame.

HH, only thing outstanding on the MM jv is the shareholders approval on 21st Jan. The fact they started drilling already suggests they already know the answer. 2 drills on MM and one on EH. Loads of news coming.

chris, a select few on here seem puzzled by the relationships but they aren't puzzling. i've explained possible other completely rationale scenarios several times.

errawarra weren't almost finished at all. they were a struggling junior like many on asx. they needed a story and a flagship and eh provided it. with that new story and sole project they were able to entice investors. something ufo weren't able to do with a history of dilution and 3 flagship projects. to investors, eh looked better in wce hands than it did ours. simple. as for a better partner. the partner subcontracts the work anyway and they had bg. the proof is in the pudding that they turned out to be a great partner. 3 raises, 2 dd drilling. mre in next few months. you can't say they are a bad partner.

not sure what you want bg to say about ufo. that's bms job. he does the eh bit for her via wce. he can't comment on gre really, would rather gre do that directly tbh, and han****, well i've stated several times why i think no one can talk in detail about han****.

i've also explained before why bg mentioned 100% eh. he was speaking in his capacity as a wce md. 100% is possible. he's not lieing, and wce investors would certainly want him to get as much of eh as possible. none of that really matters though because he nor the wce shareholders have the power to make that decision. that will be ufo. a very important point you miss.

you think we've been ripped off but tell me this, where would we be now if ufo decided to go it alone.

Maybe Chris.

But I would have enjoyed the 6 months being positive about my investment and regardless of whether BM leaves, WCE and GRE are progressing at a rate of knots so in 6 months I expect the sp to be multiples of where we are today off those 2 alone.

Whats the alternative, slam her and the business for 6 months and drag the company name through the mud with false allegations of fraud and corruption. Not sure thats going to help me or my investment.

our assets are get seriously drilled. han**** next.

just think. h1 could provide:

eh mre

mm mre

han**** jv

1p+ very plausible

wents, 97% free float. ufo is historically a traders share. went from 0.06 to 0.3 off the back of wce alone. then back to 0.13 following the placing at 0.09. very erratic which is typical of a traders share. the market will take a while to realise the recatergorisation of ufo and now is the time to accumulate imo. eh worth £18m and out entire mcap is £15m.

han**** priced at zero and a couple of signatures away from production so any jv will significantly move the sp imo.

too much emphasis being put on belinda not saying hi. that is literally all she could say. she only has han**** and that is going through a transaction where the nomad has her gagged and bound. can't even buy shares until its concluded.

market soon will stop valuing ufo on historics and start valuing it on actual fundamentals. if there is another dilution episode in the future, it will be to fund our share of the mine meaning by then we'll already be 1p+.

next time i hear from bm i want her to tell me han**** is sorted. she can keep the hellos to herself.

smiller, my point is simple. this is the strongest position ufo have been in fundamentally ever.

ill judge the bod by their actions and results not by a lack of an introduction.

if she gets han**** over the line next month and the sp 5 bags in a week, she'll be the best thing since sliced bread.

Pinguser, let's come at this from a different angle.

Let's imagine ufo post a video of BM tomorrow giving us an update. What are you hoping to hear on this video. Don't need song and verse, just a high level summary.