Member Info for DRB83

5x5, could be many reasons why. Alien spent $300k progressing a jv which ultimately did not succeed. This could quite well have been to do with the performance rights hanging over our heads and potential partners not being comfortable with the set up. Are windfield blocking us. Maybe, but their window of opportunity is closing and the nearer we get to Nov27 the more likely they'll do a deal as something is better than nothing for them. We're already 3 years into the deal so just a matter of time before a deal is struck. Could happen next week. No deal or no dtm and Windfield get nothing so soon they'll be pulling in the same direction as us.

S for Belinda, how long is a piece of string.

Silver - There are always better options out there but alien is not a pure silver play. It has significant exposure in silver, PGM and iron ore, all at different stages of their life cycle. How many juniors can you name with that level of exposure that are within 12 months of turning revenue. Revenue unlocks everything for us.

You're welcome to invest wherever you want but I like what I see here.

5x5 looks like all the known resources are high grade to me, including ridge c and e. Also, take a look at license e47/5157, those are Sirius style findings and if that weeny amount we have in the main license area contains north of 6mt then its no stretch of the imagination to think 5157 contains north of 30mt. All of a sudden, you're dealing with a monster. Just need to find a way to monetise it. Up step Belinda and the team.

you're right to raise this again aj49. it certainly will be a thorn in the bods side.

according to an rns in aug23, alien were still to agree a base value for the han**** project. the $2m on the balance sheet were just the accumulated costs invested into han****, not necessarily a fair value of the project. a fairer value may be to take the c£1.7m alien paid windfield for 39% which would value han**** at that point at c£4.4m.

also note that 50% of whatever alien spend on han**** is reduced from the payment to windfield. as at dec21 they had already spent £1.5m so by now that could be several millions.

a sale, ipo or dtm before aug27 does indeed trigger the performance payment and may actually be causing issues for alien as they seek financing options.

it may force alien to really limit what % they can give away as part of a jv.

could alien buy out windfield with the wce shares? who knows but id like to think they're on top of it.

let's hope we here something soon, even if it is just about confirmation of the base value.

i do agree, we do need funds this side of xmas. however, the only reason is to pay off the loan. the han**** drilling program will be funded from the may placing, wce jv, and warrant conversion funds.

our main source of funds to pay off the loan is obviously the wce shares. a bit of a grey area as to when they become tradable, but here is what i think.

more high grade results released next week along with 2nd phase drilling commencing in october followed by 2nd phase results dripping in from november. all of which will the wce sp up close to 0.4-0.5 range. our shares then are worth at least £6m. we hire tpi to sell 5m of our 30.5m shares into the rise generating £1.25m this side of xmas. we give £0.8m to bennelong and say thank you very much but your death spiral loan is now no longer required. the remainder of the funds tie us over until the han**** jv is signed off. worse case, we sell another 5m wce shares. in q1 next year. those shares may mean we just don't need a placing ever again. a nice place to be wouldn't you say.

Wouldn't want to be out of this over the next 2 weeks.

Shatetrader78, you know AV left the business many months ago right.

We got the close. Volume was weak but at least this suggests the selling had dried up today. Tomorrow is a different story though. Those warrants go live tomorrow and I suspect TPI wouldn't have forward sold so they may want to cash in tomorrow. They have 181m to play with so it could get brutal. I suspect they'll drip feed the sales to try to maintain the sp. Let's hope 0.19 is a solid support because its only a matter of time until the 0.28 retest and smash through.

Come on UFO! Close above 0.21 with 100m volume and we're on.

Makes sense given he has also departed Alien. He only joined the wce board because of the jv so you probably should have been expecting this.

One months notice then. Not immediate effect.

Feels like someone is quietly building a position off book here. With a bit of volume I see this retesting 0.28 this week

GGG. Holes 3&4 contained no significant intercepts. 5 & 6 i suspect are out wide to test for continuation at east and West of the mine. If they strike anything substantial then boom. 9 &10 I'm not sure about but both appear to drill to 60m so will be testing mainly for surface mineralisation.

2nd phase drilling starts mid October on the 12 high priority targets. Further strong results from any of them and boom.

Holes 7 & 8 are my favourites for best results. Very close to hole 1 which had strong grades. If 5 or 6 find anything significant then boom. Not long now.

There isn't a rns dated 29th. You mean 22nd

Wents, I didn't start the link. Technically speaking though. Results were due within 4-6 weeks. 4 weeks starts on Friday, so Technically speaking, results may land this week but most likely next week.

The wording can be interpreted inn2 ways BFd. I interpret it as 0.18 including the 25%, you are adding it. I don't think it is clear.

Not sure what placing you are referring to for £88k. They were all warrants.

According to the warrant rns, those shares will be available for trading on or around 18th Sept. Not sure why the delay. Are Alien anticipating some news to land before then to help mitigate any impact. I wonder

5x5, correct. The loan can actually be converted anytime. I think we'll get confirmation very soon. Why wouldn't they convert. We'd have to pay it off before they give notice to convert. They get a cart load of warrants too for converting. All at 0.18 with 3 years to convert. I hate convertible loans. The sooner we can look ourselves the better.

one thing i'm sure about is that we can certainly avoid bennelong converting and we can do it whilst drilling han**** without requiring a placing. if a placing or the conversion happens then you can sit back comfortably in your chair knowing the bod have royally shafted you. until then, i'll give her the benefit of the doubt.

Her job is pretty straightforward tbh. Come December we'll have 15.25m shares in wce that can be liquidated. With the upcoming news on eh:

Results of 6 holes

Confirmation of Radio Hill

Further drilling commencing

Results of further drilling

By December, the wce sp should be well north of 0.5. That is about £0.25 per share. We'd only have to sell 4m shares to pay off the loan. Leaves us with 26.5m shares worth £6.5m to fall back on.