Member Info for Happyhaddock

certainly a more positive interview than others I have heard but I didn't hear the use of the word "Will" in terms of JV.

Definitely says that another party has completed and is happy with their due diligence, he goes on to say they are waiting on licensing and legal issues and that they "CAN" do a deal.

Subtle difference from "WILL" in terms of doing a deal but the implication is definitely that there is a deal available should they want to say yes.

@Dill1 - thanks for the link I'm listening to it now hopefully it might clear up some of the comments others are talking about.

which interview are you considering the "last" interview?

Do you have a date/link for it? are we talking in the last few days or going back weeks/months?

It seems I may have missed something?

@jack the bear "In an earlier interview he stated "There WILL be a JV (at Creswick)." His emphasis. It's pretty unequivocal. He said a company had done it's due diligence and been pleased. "

do you have a link or refence to that particular interview as I must have missed it? I 've heard CB make various comments about having multiple parties interested and some going through due diligence. I've heard him make comments along the lines of some not seeming to be serious and others looking much more promising and that they would need to be serious as he wouldn't accept a poor offer. However I don't recall hearing any such clear statement.

I do suspect a JV is the most likely outcome for Creswick but I'd assume it would have to be formally announced via RNS before any CEO would be permitted to make such a clear statement in a media interview, though I suppose the word "WILL" could be seen to allow some legal wriggle room.

I personally think there is a big difference between being willing to invest long term to see the high share prices inherent in going in to production, and assuming the share price will do nothing at all before then. Long term growth based upon good fundamentals may be easier to model and predict than short term volatility dues to fickle sentiment, where, as has already been mentioned , many LTH holders are already considerably up. Nevertheless you become a better investor by trying to understand what influences that fickle sentiment and how that in turn moves the share price.

As for comments from certain individuals on this board, it never hurts to hear a contrary opinion or have someone play Devil's advocate, otherwise this space just becomes an echo chamber of confirmation bias. However the fact that comments have to become needlessly personal and intentionally confrontational or accusatory is a sad reflection on all involved.

If anybody believes that arguing with strangers on the internet is a productive use of their time, then they have the right to hold that opinion... I'm not going to be the one that tries to change their mind!

"Bill wouldn't give a time frame but it could be months before they get a drill rig to the Elizabeth Hill Silver Project."

I'm not one to plug other companies or be seen to cross ramp ... but the CEO of ECR simply took the decision to buy their own drill rig and fund their own small lab to avoid endless waiting... I don't think that "internal" results can be counted towards official resource estimates but there's much to be said for getting results back in 24-48hrs to plan drilling in a reactive manner and then send out material to an outside lab for formal confirmation of results. The alternative is to wait ages with a hired drill doing nothing, or keep drilling blindly with no knowledge of what was in the recent holes you've just drilled...

There is much speculation among ECR investors that a recent placement may be to fund buying a second drill rig, so clearly there is some merit in the approach... I'd certainly be curious to know BBG's views on such matters and if it is something UFO might look into?

wentsland - there are two way of looking at things - I would argue that the volatility is the very reason investors need to give this company plenty of time and not worry about daily moves, otherwise the underlying upward trend can get lost in the noise.

Of course if you are a short term trader, and a brave one at that, there is money to be made, but equally there is much money to be lost playing short term trades. I believe the long term gains for the patient far outweigh any modest profits that may be made jumping in and out of this.

legalwolf - in regard to the February stockbox interview you mention it is true the Craig does ay that he had been promised the lab results back in just two weeks, but he does immediately follow this with a statement whose tone was tinged with a degree of doubt when he said he would have to wait and see if that proved true or not.

Some folk here have been very critical of things he has said, but if you listen to all of what he says without putting any of their own spin or hopes on top, then it is difficult to find cases of him actually promising things which haven't been delivered.

We can talk about MM games but remember back when we spiked at 3p the prevailing global news was all doom and gloom due to debasement of fiat currency with measures to combat covid and the need for financial safe havens leading to gold and precious metal miners were doing well.

Now we're still debasing fiat currency like crazy but the mood has switched optimism, re-opening economies and bond yields going up and hence sentiment for precious metals and miners has been dragging in the dirt for months.

Value investors make their profits at times like this when sentiment is pushing prices down just as fundamentals are getting stronger. UFO isn't going to be the quick profit many hope for, but I do believe the average monthly profits to be had by holding long term may exceed any more modest goals of the short term traders.

Rhodium has certainly seen some explosive moves in price recently, but personally I'd favour something that occurred in slightly large quantities that would give a greater sense of security when extrapolating from drill data.

If you find trace quantities of rhodium a case could be built for mining it but the economics soon go askew if those traces are factionally smaller then sampling indicated.

personally I'd like to see some big fat silver results comparable to the main part of EH as long term I wouldn't exclude the possibility of the silver price showing similar percentage growth to rhodium.

the long delays and waiting times are similar to those for lab results from drilling...

Covid combined with a huge surge in interest/demand from junior explorers has somewhat overwhelmed systems in many countries.

Just like so many explorers ECR are having to wait patiently for a few extra months... one of the several juniors I am invested in has been, and is still, waiting for some "imminent" and important paper work expected last October.

A lack of information from our CEO may be frustrating for some, but viewed in the context of industry wide delays is nothing alarming.

@silverhorse PGM and other rare earth metals, by way of their rarity and hence costs tend to be used in small quantities in all manner of specialist technical/scientific applications. Equally because of their rarity and cost researchers are always looking to find cheaper alternatives.

Given the time involved in exploring, drilling developing and bringing a mine to operation, and the speed of scientific/technical evolution it is a fair bet that if we do reach the point of mining them, some of the current uses of these rare metals may have dwindled whilst new uses found for them may have been found....

hope the coffee cup is half full and not half empty.

Cheers HH

@944 Turbo .. to extend the metaphor... strictly speaking we don't know what's in the present(s) ... we've merely caught a glimpse of the label on the packaging... does it give us a clue as to what's inside... possibly?... Or has granny just used a convenient sized old cardboard box to package those hand knitted socks in.

Mining exploration involves far too many IF's BUT's and MAYBE's for me to pre-judge anything... UFO is by far the biggest holding in my portfolio because I have faith in BBG and the ground we hold... however some news I file as facts, much gets filed as good will to boost sentiment.

In the way I invest today's RNs gets filed under good will but not hard fact.

@ 944 Turbo I'm neither a glass half full nor glass half empty kind of guy .. I am that eccentric pragmatist that simply sees the glass as having 100% redundant capacity for it's current usage... no emotional view needed....

We've identified twenty potential targets for exploration, there is no way that can be viewed as bad news, the minerals/metals identified as potential finds at those targets could be really exciting if they are there.

Until we further sample/drill them we don't know if/what we will find... I described this as like receiving twenty birthday parcels for the very fact that until we open them we don't know what we've got... but I don't know anybody that would describe receiving twenty birthday parcels as a bad thing.

@starbright I'm no expert geologist but a statement of this nature really doesn't include enough detail to offer many "thoughts" about beyond the generality of being good news in having lots of potential targets to explore.

Think of it of shaking your birthday parcel and hearing a rattle, you assume that it must be good news to get a gift but know nothing about what's in the box and hope the rattle isn't because the gift inside is broken! We've just got the excitement of twenty gifts to unwrap ... who knows if any of them contain what we want...

well if nothing else speculation about this license has at least distracted folk from all the weekend's flapping about like headless chickens regarding last week's placement.

With time and patience we'll learn more, those who tend to expect everything now just tend to work themselves up in to an emotional frenzy and end up losing money through making irrational short term decisions in the heat of the moment.

I'm sure when our CEO has something to announce he will do so, and knowing the way the junior exploration sector works, it probably won't be about the subjects we are expecting to hear about.

Another little bit of goods news, but as we all know the real proof of the pudding will likely be at least a year or two down the line when we've been able to further explore/sample/drill these targets to get hard data out of the ground, extracting metals will be even further in the future.

However, the more UFO keep adding strings to their bow the stronger the case gets for just treating this as a hold and forget investment which you can just leave to do it's thing over time... for as Warren Beaty once said, the best timescale to plan on holding an investment is .... "forever"

greengrass7 seems we pretty much posted the same thing at the same time

several folk here have mentioned a period of 4-6 weeks to plan and execute a new share placing, I'd question whether that is always the case.

I'm not saying that this one must have been much quicker, or slower, however much depends upon which way the placement is being driven.

If a company has to go out and promote to find investors that can take time. If alternatively there are queues of investors waiting to put money into a company, all remaining in contact repeatedly offering to invest under different terms and offering a company different advantages, then timing can be very different. I don't know how quickly the legalities and paper work can be rushed through but I'd imagine much of it is routine once an offer too good to refuse comes along.

I am invested in one company that issued a surprise placement due to a pressing demand for shares from an institutional investor wanting to get in on a good thing. An "investing partner"" that may offer behind the scenes advantages for company management and which in the above case eventually lead to a later announcement of a new board member joining the company in what some saw as a backdoor semi-JV.

I'm not saying that is what has happened here but there are many reasons for placings and the most sensible thing to do before judging is to wait for some actual information to judge.