Member Info for DRB83

290 x 20% = 58m shares

We would have 67m so as long as we sell 9m shares before the next 10% tranche we would stay under 20%. 9m at 0.1c is only £450k which we'll probably need in next 6 months.

Agreed, even after the raise its close to 50/50. That's decent upside exposure vs minimal risk

Am I right in saying that excluding the upcoming placing for gre, ufo would own 30% of gre. The 20m shares would give us 37%. That's pretty decent exposure to any upside they get from MM. If they 5 bag like wce did then we'll have loads of liquidity in gre.

ufo mcap is a little more than £10m. the only costs now are for han**** which clearly ufo are looking to monetise too. with little risk and decent exposure to great assets, its just a matter of time before the cash and cash equivalent assets of ufo dwarf today's sp. the potential may have reduced from 5p to 2p but 2p is still bags from here.

I saw an advert selling a castle somewhere of the coast of Scotland for £750k. This thing was huge, had a load of land and right next to a lake. Problem was, it would cost about £5m to do it up and hundreds of thousands each year to maintain it. Whilst I may be able to afford the initial £750k, what would be the point unless I have millions more to make something of the castle.

The point is, UFO no longer had the funds or capabilities to do what needed to be done at eh and MM and don't forget, there are certain caveats with the licenses granted that stipulate, the holder must spend x amount each year to keep the license. If UFO don't have the funds they risk losing it all.

Having said this, im comfortable with free riding these 2 great assets until the risk has been effectively reduced to zero. MM. EH will probably take another 18 months to DTM millions of dollars and MM even longer and tens of millions of dollars. If and when they get there, they'll be worth hundreds of millions each and we'll have spent nothing.

Based on what we know, UFO we're never going to be able to explore all these assets so letting someone else do it was tge only option, or the end up with a run down castle on a one way ticket to worthlessville.

Market is pricing in a loan note conversion at 0.08p for 1bn shares by year end. We'll know for sure in the next 5 weeks.

Shame because I was hoping further dilution could have been avoided by paying back the loan with hard cash.

Be nice to have some director buys at these levels. There not even one of us at this point.

Start dripping them through mid December to Jan. So about 3 weeks

Decision to mine is next year's problem. Right now we need an rns stating £1m of wce shares have been sold to pay off the loan.

Having said that, if the sp keeps sliding Bennelong may not even want to convert the loan and may indeed request payment in full. At which point, Berlinda has no choice but to sell wce shares. Great news.

I guess Bennelong could request to defer but if ufo sign up to that when they have the option to close the cln then sorry but that is not in the best interests of the shareholders.

90% of market is made up of retail. Retail only appear to understand g/t. These results are a heads up to what the numbers will likely be.

Yesterday we hoped and thought the shoot would plunge deeper and if it did we hoped it would widen not narrow to nothing. Today we now know it plunges deeper and gets wider.

By all accounts, and I am no geologist, but this all stacks up to be highly indicative of a hydrothermal feeder zone hundreds of meters below the surface that will most likely have multiple shoots coming from it up to surface. The EH mine is just one of those shoots. Secondly, geology suggests this could be happening for hundreds of meters, maybe thousands, along the munni munni fault line. Hence the high priority targets zones.

Market won't join those dots until they see g/t. So about 3 weeks out.

Broad hydrothermal feeder zone

multiple parallel or stacked shoots

along the Munni Munni Fault,

A few more phrases we may be hearing over the next few months.

"extensive sheeted and stockwork vein system and silicified alteration zone between 174.45m and 208.55m"

Ooohhh, sheeted, stockwork, silicified. Not heard eh described with those words before. Just looked them up. Game changer. Deeper and wider we go.

Mms dropping sp in anticipation of loan conversion next month. If we get a rns advising of loan being paid back then booooom

Hold on to your pants. Now is the time we find out if the bod really do have shareholders best interests at heart. Sell those wce shares and pay back the loan adap

Those 100m warrants will cost Windfield 1p each to exercise. They can buy on the open market for 0.12p today so they won't be exercising those warrants.

Smiller, not set up on TG. Ill probably get round to it one day.

if bennelong convert the loan rs will own >20% of ufo inc warrants. meaning it will be his biggest shareholding of the 3 linked companies i believe. it would be strange for him to screw himself over. if bennelong chose not to convert then given the conversion rate, this itself is a huge red flag to remaining ufo investors. we'll know by january

best case, its not bennelongs choice and belinda agrees to sell £2m worth of wce shares on 21st november and pays the loan off in cash. keeping the remaining cash to secure our funding for h1 2026.

whilst ever this issue remains, it will weigh down on the sp. along with the uncertainty of tge windfield han**** deal. both self inflicted wounds.

If Bennelong convert the loan RS will own >20% of UFO inc warrants. Meaning it will be his biggest shareholding of the 3 linked companies i believe. It would be strange for him to screw himself over. If Bennelong chose not to convert then given the conversion rate, this itself is a huge red flag to remaining ufo investors. We'll know by January

Best case, its not Bennelongs choice and Belinda agrees to sell £1m wo

If the bod allow rs to convert the loan then I'll be on the Smiller side of things. We have plenty of wce shares to be able to back rs in cash and avoid dilution. We'll find out within the next 10 weeks.

Market will struggle to join the dots of what these early results mean. 1-2% means 10,000 to 20,000g/t of silver. Only narrow but very rare to see. Market will likely wait for the dots to be joined for them before piling in again. Just my opinion.

Anyone doing an interview a few weeks into starting at a new company will not be able to give us any detail on strategy or plans. Give her 90 days. She's been brought in to develop a new strategy. She needs time to do that. After 120 days, if we haven't heard anything on strategy then yes, get the pitchforks out.