Member Info for DRB83

ufo mcap increased yesterday to £13.5m

cash £2m

wce shares £4m

gre shares now £3m after today's monumental rise.

meaning, our

30% free ride on eh with silver smashing $70

30% free ride on mm with platinum smashing $2200

90% han**** with 30mt+ high grade dso at surface iron ore $105

brockman

vivash

all worth £4.5m

something not stacking up. realignment imminent.

So if we don't get a tr1 from bennelong we can assume they must have sold a big chunk of those CLN shares. I expect we'll get more tr1s over next few days

Not to mention funding is sorted for at least 2026 and with access to the sellable jv shares, may be sorted much further out than that.

Agreed and with the metals market consistently breaking record highs our JV partners are going hell for leather to get these resources mined. All free of charge to us. I'd probably call out that this is the strongest position UFO have been in arguably ever, yet its sp is around the lowest its ever been. That's the kind of gap investors should be looking for.

so with a mcap of just £12m.

£2m cash

£4m in wce shares

£2m in gre shares.

that leaves a ev of £4m for

30% free carry in australia's highest grade silver deposits

30% free carry in australia's largest pgm deposit

90% in han****s open pit dso iron ore projects

just a matter of time before the sp catches up to true value imo. locked and loaded.

Well someone sees enough in UFO to buy 433m shares in the business. Just a matter of time before the bod join in. Then its off to the racers

with multiple drill results to come in q1 next year from eh and a mre from mm early next year, all at zero cost to ufo, easy to see the investment case here. throw on that a drilling program on han**** and all of a sudden, h1 2026 looks very interesting for anyone connected to ufo. most progress we've seen here for many years. gla

It wouldn't be wasting money if they manage to increase the resource by say 5mt and in doing so put themselves in a much stronger position at the negotiating table. Also, probably one of the cheapest ways of increasing the resource.

Well the Windfield deal is a bottleneck to both UFO and Windfield so not sure how RS is benefiting from that arrangement.

the han**** deal with windfield was a bad deal in hindsight and completely scuppered our plan to monetise han**** and go it alone with eh and mm. that's old news now. it is what it is and it happened under a previous management. more importantly now is recent management are gaining traction and making things happen. next up han**** and it will the best deal yet.

placing risk gone

cln risk gone

just a case of wait and let the share appreciation come to you

Not sure you fully understand the deal with wce pebsi. We don't have to pay wce anything. We let them spend the millions to prove up the resource and when they have proven its there, then we contribute our 30% share of mining costs to get 30% of future profits, which at $60/oz will be ample.

Yes, you don't send mediocre grade Assays to ALS Canada. These are 1000g grades again. Wider, deeper, longer, stronger. Shame we have to wait longer but all seems positive

the ultimate question is:

do you think the future value of ufo is worth more than £11m.

ufo consists of:

£2m cash

30m wce shares

30% free carry eh

47m gre shares

30% munni munni free carry

90% han**** brockman and vivash

i know what i think, and today i put my money where my mouth is.

No dilution for at least 12 months. Value will now only appreciate as more and more resources get confirmed. Now is exactly the time I would expect them to buy in.

there won't be any loan left for bennelong to convert in june. £400k currently with £250k to be paid back in jan. this is good news. rest will be paid off in q2. with only han**** now costing us money, we are funded into 2027. not one raise required in 2026. by then our shares in wce and gre will be tens of millions. best position ufo have been in for ages. just need the bod to buy in. i'm expecting some rnss to land over next few weeks.

alien in a stronger position to deal on han**** due to shares held in wce and gre. we don't need cash anytime soon so no reason to give han**** away cheaply.

secondly, han**** will be valued independently of the alien sp.

market still factoring in the risk of cln conversion at 0.08. its like an anchor. once that is resolved in the next 3-4 weeks the anchor is lifted and off we go, although admittedly, depending on the outcome of the cln we may briefly revisit 0.08. at which point, i'll be loading up.

Nap, ufo have 30m wce shares and its quite common for shares to be held in escrow for a short period. Its to protect the sp and existing shareholders until the company has had at least a chance to put the placing funds to good use.

apologies, i'll update.

it implies not only our flagship han****, but our 30% eh and our 30% mm combined are worth £4m (inc our free carry status on both)

now considering wce are predominantly eh, you could argue our 30% eh is worth £1m + whatever value you want to put on the free carry (probably worth more than £1m

factor all this in and our flagship han**** is basically valued at zero currently. cool. ill just sit back then. not bad for a junior that doesn't have to place again

ufo worth £10m today.

shares in wce worth £3m

shares in gre worth £2m

cash c£1m

puts a ev value of £4m on our flagship han**** iron ore project.

assumes other iron ore assets are zero.

you decide if ufo is currently sat at fair value.

we know where silver is heading. wce must follow

now gre are funded, they will likely multi bag from here as did wce.

your call

let's not forget as someone mentioned yesterday. we also get c20% of tge whundo copper gold mine which will be updating its mre in the coming months. already has 6mt at 1% copper.

technically speaking. ufo shouldn't have to place ever again. just tge cln to sort. jv han**** and get some directors to back the company then we're all set