Member Info for DRB83

Oh dear, Chris not doing his research again:

Rod not spending his own money. Who's did he spend then?
No one interested in our projects. Read the last few rns's Chris, we have AA very interested.
Unlikely to make a profit. If iron ore drops below $80 then you may have a shout but even JPM recon it's more likely to be closer to $130 than $80 come the end of 2022.

At $80 we probably break even. For every $10 north of $80 we make an extra $11m pa.

The only thing I can see standing in UFO's way in the short term is the iron ore price so I'm assuming Chris you believe it will be dropping below $80 and staying below it.

So let's stop all the childish stirring and see what happens over the next 12 months.

Honest question Chris. Do you believe that UFO won't be producing iron ore in 2023? If so, why?

Thanks both.

Honest question Chris. Do you believe that UFO won't be producing iron ore in 2023? If so, why?

Yes you don't see the MM side of the trade as they are not leading the transaction, there are merely accommodating the transaction. I decide to buy because I believe my shares will eventually be worth more. The MM's sell to me because they have to. Therefore the buyer here is the leader and therefore the trade shows as a buy. The buy shows that there is demand, people want these shares. So yes every buy has a sell and every sell has a buy but the MM side of the trade is not representative of demand so is therefore irrelevant. This is just my understanding but happy for others to share their understanding.

Yes but don't Market makers hold some stock to ensure they can keep a liquid market. When you sell you may not be selling to a market buyer, it may be the market maker and their stock levels will fluctuate from time to time. The market maker buys from you and sells to Pete. The buy happens immediately but the sell may happen 1 hour later, 1 day later or 1 week later. That's my understanding.

If I sold 1m shares at 8am and you bought 1m shares at 8am I'm pretty sure you'd see 2 trades, my buy and your sell. We wouldn't just see 1 trade.

Seek, where have you seen that? Can you post a link please

Mr Fibbles. I believe it is for Fiscal year 2022, which I believe for the EU is Jan 1st.

Someone has been spooked by the EU tax situation and selling large sums.

Rod clearly very excited by Munni Munni. It's a positive move imo to cut our losses in Mexico and Greenland. The near term cash cow is Han****. The cash from there will fund:

Further Han**** exploration
Brockman exploration
Vivash exploration
Munni Munni exploration
EH exploration

Plenty of exploration for Bill and the team to be getting on with without Mexico and Greenland.

Expecting the next news to be Han**** related. Nice to see iron ore still creeping up.

Those 2 after hour buys explain why the SP didn't retrace following those large sells early pm. Churn is good. Come on Rod/Bill now, how's this review going? Have we got those phase 4 results yet? How's the finance model looking? Are we executing the 90% Hammersley deal anytime soon? What are we waiting for? What's the latest on Munni Munni and EH? What's cash looking like? Are we fully funded to production now? What's this $5m equity raise that AA want us to do? Can't we just get a loan?

Damn, those sells look very similar in volume to those earlier buys. Someone taking the phiss here or what.

Oh and a 4m buy 15 mins later. Let's hope that ignites more bystanders.

10m bought over several trades all within 5 mins of each other. I'd say one buyer who sees something good on the horizon like the rest of us. Please sir, can we have some more

AWP, Wolfy may think it's a dud because:

it's fake iron ore that we're sat on.
Aus gov are going to single ufo out and decline our mining license, just because.
Rod and Bill will draw out shovel ready into 2025 just so they can keep their big fat salaries ticking along
AA are just having a laugh and on the 60th day will drop an email to Rod saying 'fooled ya'
Rod spent £250k as a cover just to fool all the shareholders

Pick anyone from the above. Can't believe I didn't see it. Apparently there's 3000 other junior explorers just like UFO.

Well I know a company just a little in fron if UFO. Fenix. There not doing too bad. If only we were sat on 100t+ of real iron ore instead of this orange dusty stuff. Damn

Gas prices falling so maybe the market is just waiting to see where they settle before getting comfortable again.

Thanks BB, I didn't do any digging, just a quick observation but thanks for the additional step. So expecting results between $500-600m pre tax profit. H2 will be higher on both volume and price so if H1 blows the doors off then H2 will undoubtedly blow the entire car up.

Yes PUTUP, I think we're on the same page. My point being that high capex spend will show high profit margins in the early years which will negate out to zero by year 10. This is important as AIM investors look to the margins now and don't particularly care about 10 years from now.

I think your answer to my initial question is 'yes'. Thanks

Oktane, unfortunately I don't believe it will play out quite like you think. Great news about Ukraine pushing the Russians back but its just a pendulum at the moment. In a week we'll hear that Russia are heading for Kyiv from Belarus. It will be back and forth for months if not years.

Russia won't back down and Ukraine won't give up and neither are strong enough to end this conflict anytime soon.

Even if Russia did lose next week do you really think the global gas supply will just sort itself out in a few days. Nope. Probably going to take years. As GL says, increasing the UK gas supply to where we are self sufficient is going to take 10 years minimum.

PUTUP, I was merely pointing out that we do make a margin initially on the capex which during heavy capex years could be significant.

Also, I don't see any liability on the balance sheet that suggests GKP don't own the assets so any resale value I assume goes to GKP. Unless there is an agreement that says otherwise and it's accounted for at source. If not then yes GKP would get fully reimbursed for the initial capex + stand to benefit from the resale value.

I don't see a relevant comment in the accounts relating to impairment. Maybe you can point it out.

I'm not sure you understood my question or I didn't explain it very well. What I meant was that we have $260m in the cost recovery pool. I have not done the calculation so I was asking if your figure included any recovery of this amount. I.e have you assumed a full 40% recovery of cost oil.?

The 'net' I was referring to was any recovery of the $260m. The cost has already been incurred but we haven't received the cash yet. Any recovery of this $260m is all cash inflow.

Not sure I follow your 'foolish' comment as what your saying is extremely obvious.