Member Info for Max111

The Traditional Owners making a native title decision on the 29th November was for the purpose of the grant of mining lease.

If they voted with the KNAC Board recommendation and pass the proposed resolution (and Board had just been reappointed at the AGM the day before) then the Board would want to sign the HPA sooner rather than later so that a mining lease can be granted.

https://www.karlka.com.au/wp-content/uploads/2023/11/20231103-Notice-Common-Law-Holders-Meeting-November-2023-FINAL.pdf

Anyhow Troy has promised updated MRE & DFS by end of the year. So plenty of news coming.

UFO Buy signal generated:

https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=UFO.L

"This is a major bullish reversal pattern, which is even more significant than a regular Bullish Harami."

Just need to crack the 200-Day Moving Average 0.33p.

Plenty of de-risking/re-rating news coming up & moving up the Lassonde Curve to production :)

Yes good to see a lot of the shares that were floating around before have been locked down now.

Very nice neat simple project. At surface, so can't get any simpler!

@5x5. Firstly last I looked there was a coup in Guinea.

Their first production estimated 2025 and they will have a slow ramp up of only 10-20Mt per year to get to 60Mt by around 2028 (if all goes to plan). Already been trying to get the project started for over 2 decades!

Australia produces 900Mt, so it's a drop in the bucket.

Plus Rio said they need to start a new mine every year to just keep up with demand and depletion. They will have 90Mt of depletion.

However, they are getting massive delays to Heritage approvals since they blew up the 46,000 year old aboriginal cave.

Then add all new demand from India and ASEAN region.

Africa itself will need more than Guinea can produce.

China can't control the price of iron ore, says the head of Brazilian mining giant Vale:

https://twitter.com/business/status/1731966481473085724

*VALE EXPECTS IRON ORE MARKET TO REMAIN TIGHT IN COMING YEARS

*VALE CEO SAYS CHINA CAN'T CONTROL THE PRICE OF IRON ORE

*THERE IS NO SUPPLY COMING

China can't control the price of iron ore, says the head of Brazilian mining giant Vale:

https://twitter.com/business/status/1731966481473085724

*VALE EXPECTS IRON ORE MARKET TO REMAIN TIGHT IN COMING YEARS

*VALE CEO SAYS CHINA CAN'T CONTROL THE PRICE OF IRON ORE

*THERE IS NO SUPPLY COMING

China can't control the price of iron ore, says the head of Brazilian mining giant Vale:

https://twitter.com/business/status/1731966481473085724

*VALE EXPECTS IRON ORE MARKET TO REMAIN TIGHT IN COMING YEARS

*VALE CEO SAYS CHINA CAN'T CONTROL THE PRICE OF IRON ORE

*THERE IS NO SUPPLY COMING

China can't control the price of iron ore, says the head of Brazilian mining giant Vale:

https://twitter.com/business/status/1731966481473085724

*VALE EXPECTS IRON ORE MARKET TO REMAIN TIGHT IN COMING YEARS

*VALE CEO SAYS CHINA CAN'T CONTROL THE PRICE OF IRON ORE

*THERE IS NO SUPPLY COMING

UFO investors are going to be very rich :)

KNAC just posted results of AGM on Linkdin:

"Congratulations to KNAC Director Keith Hall who has been reappointed as our Chairperson for another 12 months.

The Board have also welcomed the reappointment of Director Leonard Michael Stream and Director Linda Parker by the members for another 3 years, as well as the member appointment of new Director Jayleen Anthony.

Congratulations All! 🖤 "

https://www.linkedin.com/company/karlka-nyiyaparli-aboriginal-corporation-rntbc/posts/?feedView=all

AGM was 1 day before the Common Law Holders Meeting:

https://www.karlka.com.au/wp-content/uploads/2023/11/20231103-Notice-Common-Law-Holders-Meeting-November-2023-FINAL.pdf

I can't see them repoint their Chairperson & Directors but go against their recommendation:

"The KNAC Board recommends that the Nyiyaparli Common Law Holders pass the proposed resolution."

Should finally get the Traditional Owners approval to turn Hanc0ck into a mine.

My non-shareholder trolls getting agitated. News must be very soon!

Rio Tinto is drilling just 5km from Hanc0ck and need to start a new mine every year, but they will be facing Heritage delays over the next few years!

Yes very good point bobsson.

RNS stated:

"We are excited to partner with REGROUP, a company that shares our values. REGROUP has set the goal of becoming carbon neutral via the use of a fully battery-powered fleet"

https://www.londonstockexchange.com/news-article/UFO/construction-and-operations-contractor-secured/16094438

Regroup are partnering with Janus that retrofit trucks to electric and swappable batteries with a fork lift truck in under 4mins.

They have shown to half fuel costs.

This will significantly drive down costs in future.

I take their post as sounding positive when they recommended that the Nyiyaparli Common Law Holders pass the proposed resolution.

We will find out soon.

@Happyhaddock. Stating facts is not ramping. Fact!

Profit margin is massive. Fact!

Mining Plus (that developed Fenix) stated Hanc0ck will provide "Exceptionally strong returns". Fact!

If you don't think so and don't want to read the full year Fenix accounts properly, then go GFY as Elon would say. Simples.

@Happyhaddock. Stop deramping.

Fenix made a net profit after tax of $29,253,182 for the financial year ended 30 June 2023 with an Average Iron Ore price received of just US$113. Fact!!!

https://www.investi.com.au/api/announcements/fex/3767939b-de7.pdf

@Happyhaddock, Fenix last year after issue out dividends were sitting on $100M cash in the bank. Fact.

@Happyhaddock. I think you are getting mixed up with dividends issued.

Fenix C1 Operating Margin = US$46.51 when Average CFR Price Received was = US$116/t.

Margin is huge. Fact!

@Happyhaddock, lets stick to facts rather than making up your own figures.

Here is Fenix's latest Quarterly:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729596-6A1176065?access_token=83ff96335c2d45a094df02a206a39ff4

Fenix C1 costs FOB were actually just US$50/t.

Fenix Shipping costs were US$17.2/t. Shipping out of Geraldton Port is nearly double shipping out of Port Hedland (as I showed you quotes before). Plus as Troy said UFO's region is SE Asia (very short seaborne journey). Shipping is not an issue for UFO.

Fenix C1 Operating Margin = US$46.51.

Fenix Average CFR Price Received = US$116/t

Fenix Additional expenses = just US$2.29/t.

Margin is massive.

BTW it was Mining Plus which developed Fenix and they are the ones developing Hanc0ck.

They said Hanc0ck will provide "Exceptionally strong returns".

Plus they said that the mine life is likely to extend to several decades. And that is just Hanc0ck alone!

Fenix have very high shipping costs out of Geraldton Port.

Plus their Strip Ratio is 2.86:1 so they have to mine almost 3x for same amount of DSO.

Hanc0ck Strip Ratio 1:1. Big savings here.

And if you are concerned about short-term volatility, that is what hedging is for!!

@Happyhaddock said he hasn't topped up yet, so still waiting on DFS to buy back in :)

@bobsson. Yes Operating Costs $60/t to port.

Fact is the Iron Ore bears finally dying out or slowly converting.

¥1Trillion infrastructure stimulus will start filtering through slowly and Iron Ore inventories are near 2016 lows!