Member Info for Hopscotch

....out!

This past 6 weeks has been a kick in the unmentionables, and as a relative newbie has taught me to top slice (albeit cautiously) after a parabolic rise. However, whilst the share price has taken a kicking recently it’s worth reminding ourselves of the fundamentals here – sure we may languish here for a while yet given the likely hiatus before we get good news and due to the stuffing being knocked out of us by a poorly timed placing (from an investors perspective), but remember what we have. Ultimately, whether you choose to cut your losses, dip out and in again or hold, mho is that UFO will in the next 12 months be in a much better place (not advice, DYOR, etc etc..)
Fundamentals then:
1) Circa 74-274Mt of DSO Iron Ore in Pilbara that is potentially worth several £100M’s to our MCAP, with a couple of potential JV partners on the doorstep
2) The possibility of our 51% share in the DSO being increased as the balance is owned by our majority investor
3) 1 JV already agreed for Donovan 2 Copper/Gold and a partner in Capstone that is pretty positive about the prospects
4) 2 potentially world class silver mines in Los Campos and San Celso being touted for JV
5) Another word class mine in Elizabeth Hill and an extended licence around the EH prospect
6) A licence in Greenland around the world class Citronen Zinc project that is also being touted for JV partners
7) £4M quid in the bank to fund our planned works through to end of 2021, which should mean less chance of further placings until we are much further along the value curve and have a share price that reflects it.

In short, imho, you’re unlikely to find many more de-risked opportunities on AIM.
The issue in the short term is surely sentiment, and one decent RNS can change that in a blink.

This is painful at the moment. Yes, I’m in profit but have seen it shrink drastically. But I don’t want to cut and run and look back in 6/12 months and kick myself for missing out on a life changing sum. Everyone has to make their own decision, for now I’m holding - as I planned on doing for a couple of years in the first place
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Just my opinion – hope it is of interest to others. DYOR
Best - H

Blimey it's painful at the moment though. Hard to love this share.... Need some Christmas magic please Bill

Good summary Max. Better put than I managed :)

Hi Pops. I think the others have been a little unfair in their responses, as part of your question was about the need to focus on our existing projects. My view is that we need to be balanced in our approach. We definitely need to progress our existing projects and start seeing some revenue generation, but we also need to keep an eye on the future and be on the look out for further prospects. Bill and the management team are excelling at this at the moment. I don't think we should be scared of dilution provided it is ultimately adding value to the portfolio.... As the saying goes 'you gotta speculate to accumulate'.
Best H

You have a more than fair point Casa and I have a lot of sympathy, but respectfully, bleating about it on a BB that he's unlikely to read is not gonna achieve much. Surely its better to join the AGM tomorrow if you can and hold the bod to account? Otherwise it serves only to discourage potential new investors from joining which is self defeating. I do share your frustration though...

Hi Norm,
Thanks for your posts, I always find them valuable and interesting, and I tend to agree that we can expect more placings at some point next year. At the end of the day we can only be fully funded for what we have planned based upon what we now at this point in time, but things change and hopefully with progression the scope of work we will want to do will increase (and of course need funding). Whilst some of this will hopefully be offset by new jv partners, I think we have to expect more fund raising to fulfil our commitments.
That aside, I wondered if you had a view as to when you think we might start seeing income being generated by our assets e.g. D2. I appreciate it is some way off, but being new to mining I haven't much idea as to when this might be - any thoughts?
Presumably we are at least a couple of years away from generating income from our project?

Thanks a lot - H

It's been a while now since there was mention made of looking at buying the remaining 49% share in the Hammersley licence (happy to be proved wrong if I missed it). I guess we can only assume that no news is good news and that discussions are happening behind the scenes. I'm hopeful that we may get an update on this as part of the AGM, although you obvs wouldn't expect much said publicly while negotiations are in progress, so I suspect we won't get anything meaningful until we have done the deal. But I wonder to what extent the placing funds might be used to pay in part or full for the remainder of the licence.....

There is a lot of p155 and vinegar on the board this morning chaps. I'm a bit miffed as to how it was done, but ultimately we won't know if this was a good or bad piece of business until we see how the money is actually used. So far Bill has been transforming UFO at a rate on knots and I think he has enough credit in the bank to be given the benefit of the doubt imho. Let's see how he uses the cash in the coming quarter....

I agree Oil Beast. I reckon the next jv (or maybe buyout) announcement could well be the DSO. I wouldn't be surprised if we get something sorted in Q1 2021? Maybe that's wishful thinking, but I'd hope we can close out the additional 49% licence ownership by end Jan (that's at least 3 months to get agreement on that with an existing major shareholder in UFO) and then hopefully in parallel there are discussions ongoing about a jv or buyout with a bigger player. Max's recent posts about Aliens tweets regarding Fortescue are certainly intriguing.... Would be a cracking start to the New Year if Bill could pull this off?!

When the trolls clear this is such a great board. Lots of informed investors willing to share knowledge. I'm very grateful. Incredibly helpful for a relative newbie. I've learnt a lot in the past 6 months. Thank you all... you know who you are

A nice drift upwards towards the end of the month until news arrives would be lovely....

And national debt just keeps rising... it's frightening

https://www.bbc.co.uk/news/business-55013192

Hopefully we've turned a corner. TBH I'd settle for another 10% increase tomorrow

I think we need a decent news stream with some chunky updates to restart the warp drive. Until then I think we'll drift.... We need a positive assay or drill update at the very least at the moment imho. Ideally we'd get a more definitive jv update like the Capstone due diligence RNS... is possible it could happen but we don't know the status of Bill's ongoing discussions at the moment...

Bobby Ewing.... Brilliant....lmao ??

Blimey it's been a shocker this past few weeks. A real sickener. To use a cinematic reference it feels like we dropped out of hyperspace into an asteroid belt! Let's hope we've hit the bottom..... We could all do with a bounce. 1.5p would be lovely at this point.

Agreed TKIA. It's annoying and frustrating.
Ultimately though it don't change the fundamentals!

At best this smacks of a level of unprofessionalism...

That looks odd? King dragon? Where's Windfield?

Is this a website glitch rather than a genuine sell off?

I think the dilution effect would be relatively small tbh. There's not been that much dilution