Member Info for DRB83

Horrid and Nasty shareholders

People believing that iron prices will be in excess of $125/t come May. That will do us very nicely. There's a good chance we'll be churning 100kt per month by June.

100kt x ($125 - $65) = $6m per month
Less a small amount of admin costs and let's say we'll be churning $5.5m pre tax profit per month.

Remember the days when trolls were worrying about a couple million raise here and there.

If things go to plan then there is a good chance next Christmas we'll be talking about the potential for dividends.

Fingers crossed for the Heritage agreement and mining license in Q1. After that it's just a patience game.

I'm intrigued to see what impact this will have on ncyt's top and bottom line. If the gov what tests done before passengers arrive then surely that means Chinese testing companies will have a surge in demand. I don't believe China is a big market for ncyt. The problem is, the tests will just be the £3 LFT's so hopefully the UK gov are wise to this and request a confirmatory test on arrival. A ncyt test would be nice. Not long until we get the January sales update with hopefully a revised forecast for 2023. Good luck y'all

Bill didn't have many shares. That was part of the problem.

WBA, call me an optimist. I'm still in the game and waiting for some actual news that shows me the tide has turned. Hopefully next time I'll time it right and claim back what was lost.

There's no denying, a lot of us here called it wrong with ncyt. I still believe ncyt had huge potential when I first bought in over 2 years ago and with a little better stewardship the story could have turned out dramatically different. Unfortunately DA wasn't the right man for the job and whilst ever JW is still here ncyt will have one arm handcuffed to one ankle. I cut my losses here a while back now but as a result I lived to fight another day. I'll always be watching ncyt ready and waiting to take back what is mine. Until then, all the best to the genuine holders.

If the statement was mine it would be going really bad, obviously.

Dribbles has another new username and PI100 still here beating the same drum. Some things never change.

Well done all genuine holders. Always nice to see a big rise. Hopefully one day ncyt will provide some amazing news.

Base Jumper, it was spoken about on here a few months ago. It was just speculating at the time as the scoping study was based on $100/t. The spot price at the time was floating around $100/t so I think most at the time would have been happy to accept a $100/t 3 year deal and lock in some guaranteed profits. Not so sure I'd be happy with $100/t now. Not with how the future prospects look. Every addition $10/t is approx $10m EBITDA/pa extra. Recent positive trends certainly give us a stronger negotiating position.

Starting to think a $100/t $50m EBITDA/annum hedge take off agreement with AA is not so appealing now.

Good to see him putting more of his own money in. It certainly makes for a more confident reading compared to when Bill was forced to say the directors only had 0.5%.

Reggie, if they already know what's coming then isn't it a give away? Anyway, peace out

I guess without the share incentives the bod would just plod along not really caring whether they deliver or not. Here's me thinking those 6 steps were pretty much nailed on. If we get the mining license then we will naturally get first iron, and if we get first iron then we will naturally export 500kt, and if we can export 500kt then we'll naturally export 1000kt. Most of those 6 steps depend on the mining license and let's face it, if you can't get a mining license for Han**** in WA then you probably shouldn't be anywhere near the profession. Agree with Smaller on this one. Just a give away. Hope I get a bonus today for turning up to work. I'll see what the boss says and let you know.

Not sure about this line:

Should there be a change of control in regards to either IOCA or the Company, the shares will vest immediately

Am I misunderstanding or is that an incredible incentive for the board to want control to change. If it does, they get the shares immediately.

It hit 3.07 which was my first buy and then dropped almost as soon as I bought and never looked back. I know cos I still have those particular shares and not planning on selling until I at least see 3p again.

My understanding is that $15m is the initial capex with the other $15m required further down the line. I suspect by the time the remaining $15m is required we'll already have everything in place to make a loan a viable option along with possibly our own cash generated from initial iron ore sales.

Myavian, there comes a point when you reach the end of the road and the can can no longer be kicked any further. The end of the road is fast approaching. UFO will either make it break. I'm backing UFO as I think it's more likely to make it.

This, combined with the continued advancement of the Han**** iron project towards production in 2023, positions the Company very well for shareholders to benefit from near term cash flow from production as well as making significant new discoveries in this highly mineralized region.

First time I've heard them band Munni Munni in with Han**** as being near term cash generative.

Nothing in here that I expect to move the SP today but another step towards the long term plans.

The doubters appear to be comparing Mexico with Han****. Anyone want to give them 5 reasons why Han**** is nothing like Mexico?

Just reviewing the last few rns's and really like the below comments:

"The high grade, low impurity nature of the DSO material from Han**** means the Company is highly confident that the product will be highly sought-after and expected to receive a market premium."

A market premium! Great to hear.

"High potential to extend mine life for several decades"

Several decades? They're not talking years, they've seen enough to be talking in decades. Again, great news.

Also expecting most of the below to be concluded in the next 6 weeks (before Xmas)

Ongoing work:
Planned activities from the IOCA development team for the next reporting period:

• Award preferred status for key project packages
• Secure Utah Point tonnage allocation following indication
• Water bore drilling
• Finalise offtake agreement and funding
• Further resource drilling
• Upgrade JORC Resource
• Finalise approvals and permitting

Lots of potential for the SP to be well north of hear come Xmas. GLA