Member Info for DRB83

Just letting the market know, we know the exact same as when we last let the market know which was the exact same as when we last let the market know the time before. It must be boring being a UFO director.

Not so sure anymore max. First it was the Heritage license, then the mining license, now something else. What is actually now stopping us from progressing. The ore is there, the locals are happy, we have customers ready. How much red tape do they want in this process. Iron ore should be trading at a £1000/t to account for all these hoops that have to be jumped through.

I think base needs to take a run and jump. Lol

They actually called that a project update. Lol

Just letting y'all know that we haven't actually done anything yet. Lol dayum

In raising £500k?

a) that's all they could get and the prospects of UFO is nowhere near what we were expecting

b) that's all they need for the foreseeable future as very soon they will be announcing funding through either JV or debt.

c) so mates can get in at mates rates as the prospects are good but AIM is a cesspit and nothing will get done about it so why not.

Genuinely don't see the point in raising £500k just to have to go back to market in a couple of months time for more. Just sp suicide that strategy

Nevermind that. I want to know who the 4 non directors are earning £864k a year. Are they family of the board?

yes, i think we all know the next big hurdle is funding. i also remember when the next big hurdle was obtaining mining approval. that hurdle seems to have gotten a little smaller over the last few months. hurdles are there to be jumped and so far ufo have jumped each one. if i was one of the big players in the mining sector and had a spare few million, would i invest it in han**** which is only a few months away from potentially being worth tenfold what it is today. i would say yes. it's not so much a question of whether the funding is there, this feels more about what the funding package looks like. hopefully, alien have enough brass and leverage to get us a really good deal.

after mining license and funding, what's the next big hurdle?

Chris, 95% of the share market will be doing the same. The sp reflects that it's probably taken UFO 4 years to do 2 years worth of work and therefore been twice as expensive as it should have been. If the sp didn't think this could turnaround then it would already be worthless.

Its hard to believe anything you say as you are ultra one sided on this share. Even the good news you will smother in excrement because you can't bare any positivity on here. Why should or would I or anyone on here believe anything you have to say about UFO.

Flatliners, I'll help clear it up for yayay as in contrast you are just fuelling the misinformation, for obvious reasons but very poor form.

At the worse case there may be one more placing, but there is an equal chance that the funds we have get us to the mining lease approval when funding will be finalised shortly after. Time will tell.

There is no guarantee that the next placing will be lower than the last btw. We are now closer to mining than before.

Yayay, no. The expectation by IOCA is Q1 2025.

Mining lease approved in next few months

Funding/takeoffs will then be confirmed

Mine construction commence Aug24

Mine construction completion Dec24

First ore to port Q1 25

Exploration will be ongoing during this time to firm up and most likely expand the current jorc. Apparently 8.4mt is a minute part of what we have underground

Norm, of course we're closer. To say we are not is ridiculous

Chris, agree with CJ. Interviews very rarely uncover anything new as the news would most likely be in the rns that preceded the interview. That being said, it's always good to hear the tone and see the body language of the captain.

The fact that you elude to nothing new coming from the interview is predictable and I predict your next comment will also be negative towards posters on here or/and UFO as a going concern.

Peanutty, you say 1.5p is ridiculous but in reality this is a make or break share. It will either go to the moon or fold. There is no middle ground here. We'll find out within 12 months which way it goes from here imo.

The naysayers who think they are enlightening us that this is a risk are just fooling themselves. We already know.

Naysayers are here for their own gratification because whatever their personal situation is, they need the constant reassurance that they are right about something. What better way to get that reassurance than an AIM share chat. Sad but true

Wolfy, by the same token, you can't just assume that trends will continue perpetually. A hell of a lot has happened in those 4 years and one thing for sure is we are a lot closer to revenue now than we were back then.

The naysayers have also for 4 years been saying this will fail yet here we still are.

Annoying, I understood that to mean that the neighbours agreements were just to allow us to mine on the boundary and a bit passed it. Sirius has got plenty of ore in the ground not affected by these agreements. Therefore your comment regarding Q1 2025 not being achievable is misleading. There is probably at least 6mt that doesn't need any neighbour agreements and so can be mined in 2025 Q1 as per the RNS.

What's the point in waiting for an RNS if you simply just dismiss what it says and then fall back to the same conclusion you had before the rns was released. Happens all the time with the derampers. If you don't like what you see, do one. We have enough people here who can evaluate the risk and reward just fine without the needs of you and C2 constantly throwing up in our faces. Apologies everyone else, rant over.

chris, every hurdle that ioca clear it's the same rhetoric from yourself. nothing ever constructive, just destructive attempts. we don't have long to wait i guess to see if han**** and ioca will in fact be a ore producing company or as you say, go bust.

With regards to noise restrictions I would say no. IOCA have mentioned going to double shifts is possible so assuming no such restrictions are in place. Secondly, I would imagine the nearest village is many miles away so would noise really travel that far. I don't know.

simter, the luxury of the flexibility of being able to turn up the volume is that during high ore prices we can maximise production and during weak prices we can reduce output or stockpile. if in mid 2025, ore price goes to $250 then i'd fully want and expect ioca to be producing round the clock. lom is 8 years single shift today but i fully expect han**** to be in production 15 years from now. lots of iron in them hills.

HH, agreed but if I recall it was you who initiated the conversation by mentioning the very worse case and valuing it in the tens of millions. That was always going to ignite a debate and after 24 hours or so we arrive right back where we started. No one knowing anything about this deal. With any luck we'll find out real soon.

Also, bear in mind that when anyone signs into these contracts such as Windfield has here. They are aware that by sacrificing some of the risk they'll have to sacrifice some of the value. By agreeing to sell the 10% way back when they were significantly derisking their own balance sheet and as a result they knew they wouldn't be getting full value for their 10% when it comes to transferring ownership. It's all risk Vs reward.

You can't say to someone, I'll sell you my car for full price today but I still expect to be able to use it when I want and you to pay for filling it up. Deal?