Member Info for Max111

Need to research Fenix. Their first shipment was in February 2021, but all their rerates took place in 2020 as project de-risked.

UFO Mining Lease is a huge milestone, due soon.

High-grade DSO at surface leveraging on existing infrastructure with access to export channel is the best place to be invested.

"Stockhead reports the positive outlook for Australian iron ore and copper plays despite challenges in the Chinese economy.

Lowell Resources Fund CIO, John Forwood, points out that China's electricity consumption, iron ore imports, and copper consumption reached record levels, indicating resilience in these markets.

The role of steel is highlighted as it becomes important in the energy transition, alongside electric vehicle (EV) and electrification metals.

#ironore #alienmetals #mining #UFO #investing #AIM #LSE"

https://twitter.com/AlienMetals/status/1758455859032494311

MinRes posted on LinkedIn they are training Road Train drivers:

"This initiative was introduced to meet the huge demand for heavy haulage truck drivers and support MinRes' significant growth."

https://www.linkedin.com/company/mineral-resources-limited/posts/?feedView=all

High-grade DSO Iron Ore at surface leveraging on existing infrastructure is the best place to be invested.

Alwyn stated, "There are quite a few interest parties talking with us about a joint development"

MinRes will either need to joint develop with UFO or pay UFO transit fees (as per previous RNS) to unlock their stranded 124Mt Sirius deposit @60.3% Fe which I'm sure they are very keen to get out onto the market.

Gamechanger.

Exactly Dean.

Also Alwyn in the interview said, "Selling the iron ore most likely to a market in China."

This is where MinRes product goes.

No doubt at all MinRes will wish to finally unlock their stranded 124Mt Sirius deposit @60.3%.

Alien Metals' Hanc0ck Iron Ore Project shows promising financials and growth potential

https://twitter.com/Directors Talk/status/1758099844240142540

@wents, see summary of hanc0ck which had been updated. anglo still there. fact:

https://www.alienmetals.uk/project/iron-ore-han****-tenement/

but again since capex is now only $18m "term sheets also received from other parties" may be better.

some people here actually didn't like anglo.

glencore provided prepayment funding for fe ltd and paid for shipping.

other juniors got a loan.

lots of options available for high-grade dso with low impurities.

@Wents as per previous RNS they are continuing to negotiate offtake agreements with Anglo AND other parties.

And now Capex just $18M, so better terms than Anglo may be available for the company. Not difficult to understand.

"The Company continues to negotiate offtake agreements for the company's Hanc0ck project with interested parties, (including Anglo American as already announced) with indicative term sheets also received from other parties"

@Wents, it's from the RNS 9 August 2023.

See "Trading Update"

"The Company continues to negotiate offtake agreements for the company's Hanc0ck project with interested parties, (including Anglo American as already announced) with indicative term sheets also received from other parties"

Capex now reduced to just $18M, ie a prepayment for 2 months of DSO sales.

*border

Yes Hanc0ck is definitely the flagship asset at the moment due to it's simplicity, at surface DSO, 1:1 strip ratio, leveraging on existing infrastructure and port allocation at Multi-user facility Utah Point which is a huge economic benefit to the company.

With hedging & offtake in place prior to production, then payback is guaranteed.

EH headframes in place. Just needs dewatering. But once you start the pumps, need to keep them going.

Brockman & Vivash boarder Rio Tinto and others which have been drilling right up to boarder, so perfect for JV.

It will be interesting to see how a JV Joint Development deal affects the figures :)

Non-stop FUD being posted by certain individuals with an agenda.

UFO's Hanc0ck page summary had been updated and Anglo still there.

But remember, it's not just Anglo UFO are negotiating offtake with, there are other parties:

"The Company continues to negotiate offtake agreements for the company's Hanc0ck project with interested parties, (including Anglo American as already announced) with indicative term sheets also received from other parties,"

As Bfdinvestor said now since Capex dropped to just $18M, Alwyn might well have a better option lined up for UFO.

The capex is only a couple months prepayment of DSO sales.

@Chris2, please explain why MinRes have no interest in unlocking their 124Mt Sirius deposit @60.3% Fe?!

Also why you are here, since you have already gone way past your "10min a month spend on UFO BB". Many thanks.

"The Company continues to negotiate offtake agreements for the company's Hanc0ck project with interested parties, (including Anglo American as already announced) with indicative term sheets also received from other parties,"

Looking forward to Alwyn announcing offtake & funding agreement RNS.

Just need prepayment for a couple months of DSO sales. Capex only $18.2M.

I'm pretty sure Alwyn has a joint development for hanc0ck up his sleeve.

Previous RNS also mentioned they are in discussions with doing a deal with the owners of Sirius.

Alwyn has done a deal with MinRes before.

I remember reading CZR and Red Hill Iron were going to joint develop their haul road, so it's quite normal. Unless the other party wants to pay a transit fee.

Alwyn said:

"Certainly very open minded about JV type structures. There are quite a few interest parties talking with us about a joint development"

So MinRes will either need to joint develop with UFO or pay UFO transit fees (as per previous RNS) to unlock their 124Mt Sirius deposit @60.3% Fe which I'm sure they are very keen to get out onto the market.

@norm. You do realise that it's Mining Plus that is developing Hanc0ck, and they were the ones that developed Fenix.

The Fenix development guideless were given which were reasonable.

However, what changed? Rio blew up the 46,000 year old caves in 2020 which then brought in the Aboriginal Cultural Heritage Act 2021 which came into effect 1st July 2023 (then repealed, then soon after UFO executes Native Title).

Without port allocation, projects are stranded. UFO executed that now also.

These barriers to entry to mining will now benefit UFO since even Rio Tinto can't start some of their planned mines.

Anyways, Alwyn bringing in "a clear team that the market can associate with & trust to take the company forward, which will be reflected in the share price." Then 10-bagger from here on existing resources.

@norm. I want you to remember this discussion and revisit it in a few months. You will be absolutely kicking yourself not to have bought back in/top-up at this level. Until then ATB.

@Norm, As Alwyn said, "It normally takes about 10 years from the first drill hole to the first ore on the ship."

Hanc0ck is DSO at surface. Dig-crush-ship. REGROUP just need to build a haul road after approvals. Simples.

You said you are waiting for gold to go past $2,100 with your gold investment.

DSO Iron Ore at surface actually the best place to be invested which is necessary for the electrification of the world.

Iron Ore market is tight and fund like Lowell Resources Fund getting into Iron Ore juniors:

TEN BAGGER: Why ASX iron ore and copper plays should stay positive on China

https://www.msn.com/en-au/money/markets/ten-bagger-why-asx-iron-ore-and-copper-plays-should-stay-positive-on-china/ar-BB1i9ddR?ocid=socialshare

Alwyn said he will bring in a management team that the market can associate with & trust to take the company forward which will be reflected in the share price. Watch this space 🚀