Member Info for DRB83

Ask Fenix if 38m+ iron ore is too small.

PGE expensive yes, but in 3 years we'll have revenue coming from silver and iron ore so expensive might not be an issue. Personally, id rather just retain a small 10% and free ride MM.

Chris, 30% of 30% is just not how this will unfold. Commercially, it doesn't make sense and it would probably qualify as the worse deal ever made by a company ever.

Yayay, the people buying on the recent spike were either traders, who will be very aware of short term swings in sp and the maeket volatility that wars brings, I'm sure they can handle the risk they take, or long term investors who bought in at 0.28 and will be targeting 1p and as nothing as changed fundamentally should be comfortable they'll get their money and some soon. I'm just gutted that I didn't sell 100% at 0.26 to buy back in at 0.11. Hindsight is great but im also not a trader so happy to make the most of this opportunity whilst I can.

Smiller, 70/30 was the best we could get and is pretty std. The midtier you refer to doesn't exist and if it did they wouldn't get involved with 15000m of drilling still to do. WCE have done a great job so far. Scoping study in 2-3 quarters.

Whats point in mentioning sp right now. Its meaningless. Just another example of the market is only right 10% of the time. Just because investors, traders turning risk off due to a war in Iran does not make the underlying value of UFO drop 30-40%. Its a complete disconnect but does present an opportunity. Market is full of opportunity right now thanks to the war. Ufo is no different. My average is 0.18 but it'll hopefully be coming down in April. Maybe I'll get lucky and the sp will drop to 0.05. Doesn't really matter because come 2027, we'll be digging silver and maybe iron ore out of the ground.

yall either trolling or traders, worrying about daily movements and the temporary affects of a temporary war 15000 miles away.

the war isn't going to stop gre reporting its phase 1 results in april

the war isn't going to stop gre declare a modern mre on mm in may.

the war isn't going to stop bg go for his walk around han****.

the war isn't going to stop wce declare its modern mre in q3 or its scoping study in q4.

what yall expect to happen when its risk off in the market. everyone going to dry powder or oil. when the war stops next month the tsunami back into metals happens.

i just hope the spring back holds off until after isa day.

chill!! today you can buy ufo at a serious discount just like you can with many shares today.

Tuff, not sure why you think the number of shares affects whether we get a return or not.

We don't give anything away. 70/30 is pretty standard in the industry and we are now free carry. WCE already raised £5m or so + planning another 12000m of drilling in 2026. By the time they've done they'll have given us £10m+ in cash equivalents not to mention the 44m shares of which 30.5m still remain and will be worth £30m by the time we get to DTM.

Can't wrap my head around why lots on here would prefer ufo keep 100% of 3 flagship that dilute us into oblivion.

Value will be returned by share price appreciation as our projects progress up the value curve. We'll probably also get dividends a few years down the line.

ASX getting battered again. Since the war began nearly 3 weeks ago:

GRE - 0.122 to 0.062 = 49% down

WCE - 0.215 to 0.155 = 28% down

UFO - 0.165 to 0.125 = 24% down

Not convinced ASX is any safer than AIM.

Happy for the bounce to come after April 5th.

wents, i disagree, all depends on what margins are being had for silver at the time. if its selling for $150 and margins of $100 as we expect, then mining 1moz pa will give $100m margin to the jv. $30m to ufo. the royalty on the other hand would give $3m to ufo. so in just 6 months of 30%, ufo could earn more than 6 years of royalty. under these numbers and with such a small payback, no ufo bod can justify going down the royalty route. they risk jeopardising their reputation, family name, career and a prison sentence and shareholders just wouldn't allow it either.

therefore, they'll either fund the 30% or they'll renegotiate a revised royalty of closer to 10% for example.

as for han****, if the intention was to run down the 2028 clock then why did they spend £300k on legal bills back in 2024 and why have they been holding ongoing discussions with potential partners for the last 2-3 years. there are clearly stoppers to this deal but 2028 isn't it imo.

placing? £2m in the bank and £2m in warrants + 30.5m wce shares and 47m gre shares. plenty of liquidity. only cash we need is for han**** and if we acquire other tenements, they'll take years to absorb our cash. the only placings that will be required going forward will be for production well north of 0.5p, not for exploration as we've been used to. this is the big change i've been banging on about. a few on here keep wanting to look back 5 years though to predict the next step.

on bruce, who knows what he'll be doing in 8 months time. ufo seems a nice cushy job for a md. 2 partners looking after 2 projects. he only has to look after han**** and once we have revenues next year, he'll have a blank cheque to satisfy his exploration needs. he may just want to stick around.

safe to say we disagree but i appreciate you bringing logic and a reasoned argument to the table. unlike some of the numps on here.

Uncle, depends if you think a £5k director buy is worth talking about. The directors will buy when they can. I don't think £5k will be his final decision.

Buff, because if they don't find half of those or the PGM market turns upside down, you've got all your eggs in one basket. If WCE do get to the silver, you'll be kicking yourself for not buying WCE instead and vice versa. What if neither of them come off but iron ore does. You'll wish you bought ufo. UFO is the perfect asset for spreading that risk.

You could have (MM/EH/Iron):

Lower risk/several bags - 30/30/90 (UFO investor)

High risk/many bags - 100/0/0 (GRE investor)

High risk/many bags - 0/100/0 (WCE investor)

Take your pick.

tuff, that's a fair observation although i am not sure what it implies. i am assuming you are asking why.

my opinion on the why is aligned with my thoughts all along. the highly dilutive 100% owner of 3 flagship projects ufo of 2020 that most here invested in has gone. we tried and failed several times and eventually we evolved a new set of skills and tools to better navigate our environment. we are now a project generator. we acquire, enhance and then monetise. currently we have 2 assets monetised being operated by partners whilst ufo retain meaningful upside. ufo don't do anything on these until dtm/bfs. that leaves han**** which has its own bottlenecks but could be unlocked anytime.

so, with 100% of our current activity coming from our partners, it should be no surprise to any investor that their news is filling our board. its a telltale sign of the evolved ufo of 2025 which a few investors on here are still failing to join the dots, instead insisting on us looking at a 5 year chart to predict the future. the penny will drop one day, when it does, the sp will probably be a penny. gla

Correction

GRE - 0.122 to 0.071 = 42% down

Since the war began 2.5 weeks ago:

GRE - 0.122 to 0.084 = 42% down

WCE - 0.215 to 0.165 = 23% down

UFO - 0.165 to 0.13 = 21% down

I think UFO has stood up relatively well against the test of war and the risk off move by the market.

We are trading at a substantial discount compared to pre war, which was already a discount, and absolutely nothing has changed.

When opportunity knocks and all that.

6 months away from MRE

9 months away from Scoping Study

The war may be suppressing the sp right now but everything still on track. ISA day in 3 weeks. Hopefully we'll still have a great opportunity to average down.

Its easy to forget about Whundo with everything going on at UFO but with 17% ownership in a pretty decent Gold mine soon to be drilled further, things are looking good.

Ibm, you say "all is bull****. you see that the share price is not reacting anymore to any positive news. all lost trust. we don’t need to read the news anymore."

Since the war began 2 weeks ago:

GRE - 0.122 to 0.084 = 31% down

WCE - 0.215 to 0.185 = 14% down

UFO - 0.165 to 0.135 = 18% down

In that time all 3 companies have released positive rnss.

Only a few weeks ago ufo were trading in the mid 0.2s. It will get there again in Q2. Wars don't typically help markets.

BTW, I am all for investors evaluating their investments. Meaning looking at the pros and cons. I do it myself. On the left you have all the potentials and opportunities and on the right you have the risks and threats. At no point have I ever had on the right for one of my investments that it is a "scam" Company. You clearly do. Once you conclude as you have that that is the case, most sane people sell and move on.

I have read you mention several times that investors should look at the negatives too. Agreed, but what's the point in you doing it if you're just going to ignore the biggest negative you could have on a company.

Typically, if the list on the right outweighs the lost on the left then you would usually significantly downsize your investment or even completely sell out. Reinvest in a company where the left wins.

The fact you're still here with the word "scam" on your right side says more about you than it does ufo, yet you like to keep shouting it from the rooftops. "hey everyone I am invested in a scam and I am not for clever and its going to zero because it will get diluted to hell but im invested and im going to keep telling everyone". Sounds crazy to me.

2026 targets

eh - mre and scoping study in place for open pit mine. production q1 27.

mm - mre

han**** - monetisation implemented

iron ore - drill drill drill

if after all that you think the sp will be lower than 0.13 then sell up and move on. other wise, you're just embarrassing yourself.

Wolfy, you say "New reasons to raise more money. And the merry go around goes on"

Any capital required at EH or MM will be covered by our partners. No raise required for ufo thanks to the bod for finally getting these projects moving.

According to last presentation Pete, MRE and scoping study scheduled for Q4. At which point we'll know exactly what the costs/timescales are to get this open pit show on the road.

Time just has to do what it does.

hence the 12000m of drilling we'll be getting for free in 2026. if that doesn't advance us up the value curve then nothing will.

the war may be suppressing the markets but underneath the noise, eh will still be getting drilled in march, mm phase 1 results will still be landing in april, mm mre still set for may. just a case of letting time do its thing. cashed up for han**** exploration well into 2027. by the time we need any funds to lock in our 30% on eh, the sp will already be above 0.5 so when the trolls mention placing as a negative, they don't realise it will be done at 3-4 times today's sp. funny really.