Calm Down Dear!18 Nov 2020 09:20
Lots of noise on here the past few days but sadly little of added value to those who are here to make money with UFO. There are the usual heroes that provide some real value-added insight and share some great info and to those I offer my genuine thanks (you know who you are and there’s too many to name). Next we have the drillbits (i.e boring tools) that vent on and on about dropping share prices without having done any research – look we all get frustrated and having a whinge is fine, but every bl00dy hour? Please! By all means ask a question and get help/learn, but honestly some of it is just plain laziness or ill thought (or no thought at all). But the worst of the lot are the de-rampers – who are either in it ‘cos they want in lower or just have a nasty streak that doesn’t like to see others doing well. For clarity, I am open to and indeed encourage a contrarian view that is genuinely thought out and makes me think about it. I don’t want to be in a share that is genuinely going to tank, but what we almost exclusively see here is just out and out nonsense with nothing to back it up.
FWIW, the following is just mho, please DYOR, and then either strap in for the ride or exit the vehicle, but please….. calm down dear!
Reasons to be positive (and apologies for a bit of repetition):
1) We have potentially humungous resources in the ground in more than 1 project (D2, San Celso, EH, Hammersley etc..).
2) The iron ore alone could add many hundreds of £M to the MCap (and that's based on the conservative figures highlighted by EWT and others in recent posts and doesn't factor in that we are looking to double up to a 100% holding. Furthermore this project is on the doorstep of a number of majors that may well be interested in a jv or a straight purchase.
3) We have 1 JV in the bag in Mexico that's already underway and both parties are v enthusiastic
4) We have widened our footprint around our EH silver mine and without any further investment/effort have positive looking soil samples
5) We appear to have jv discussions ongoing on a number of fronts behind the scenes
6) We have a brand new licence in Greenland and have yet to have any news/updates on what this could mean, but it too is situated right next door to a world class resource
7) We are well funded (I think about £2M in the bank now?) to progress the work on most fronts into the next year
8) My impressions are that we have a well managed company with a very impressive board that so far haven’t put a foot wrong, and are communicating often and with meaningful updates
Reasons for concern (maybe)
1) No TR1 notice thus far, which is a bit disappointing but could change in near future pending progress of the points above
2) A fair amount of warrants being exercised, but these should already have been factored in by savvy investors and each exercise brings more cash with it.
3) The share price trend has been one of downward consolidation over the past few weeks but over the slightly lon
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