Member Info for Max111

*Sorry, I meant LBMA, not LME (LME is for base metals). However LME are also getting dry on base metals.
https://www.lbma.org.uk/prices-and-data/london-vault-holdings-data

Lets hope the Dollar (which has been way too strong) keeps going down leading to an inevitable boom in metals prices.
FOMC meeting tomorrow will be very interesting.

Anyone know what the silver momentum breakout level is?
I haven't followed Michael Oliver for a while. He has been saying it's lower than the $30 during last year's silversqueeze due to where silver.
Before he was saying we need a weekly close at $24.44.
COMEX & LME are almost dry now, so less chance of manipulation.

Yes and Iron Ore also up 809 Yuan / US$115.85

DXY dropped below 104

Stars are aligned :)

India Govt Working on a National Policy on Green Steel.
India Plans to Set Carbon Emissions Mandates for Steel Industry.
https://twitter.com/Sino_Market/status/1602601210761969666

This is great news for producers of high-grade ore. There is a big push towards Green Steel, which is why Anglo American wants our product for at least the next 3 years.

Just noticed UFO Crossed Above its 50 DMA of 0.47p = Bullish for the chart traders.

On Thursday 28th January last year when #silversqueeze started UFO was selling for 0.85p. Within 2 days the SP touched 1.60p (nearly doubled). It preformed the best on the London market and they even wrote about it in The Times newspaper!

You are right Naps, the peak was 19th Oct 2020 and SP went well over 3p.

Every time silver jumps significantly, so does UFO.
People that can't see the correlation are literally blind!

Morgan Stanley upgrades Vale, says China reopening and iron ore price jump could help mining stock
https://twitter.com/CNBC/status/1601171505341243393

Yes Allwinners. We are in very safe hands with Mining Plus since they were the ones that developed Fenix.

And in the Scoping Study Mining Plus stated:
"High potential to extend mine life for several decades"!! And that's just for Hanc0ck!

Whereas Fenix only now have just 4-5 years left of mine life!

Thank Allwinners. I was opening the Further Info document rather than the 65 page PDF document. Lol. I found it on p 43.

What a fantastic project :)

@Barrett, If you are watching, will you please do the honours?

China's commodity futures open up at night.
https://twitter.com/Sino_Market/status/1600837751607132163

Iron Ore currently over 800 Yuan / US$115/t

https://afr.com/markets/commodities/china-s-reopening-could-propel-iron-ore-to-us150-a-tonne-20221206-p5c42e

#ironore #UFO

https://twitter.com/AlienMetals/status/1600813814324563969

@Allwinners. Where did you get the Opex figures? Are they for Hanc0ck?

@Allwinners, Yes I noticed the 2.6Mta mining rate.

I think they must be anticipating finding a lot more DSO.

In the E25 deal RNS Rod said:
"this MOU not only gives us immediate access but also potentially paves the way for IOCA to increase its production capacity through Port Hedland to more than our stated 1.2mt/pa."
https://www.londonstockexchange.com/news-article/UFO/ioca-executes-mou-for-iron-ore-bunker-allocation/15701736

Some good info regarding Operations & Infrastructure required:

3 Mining Methodology:
Alien proposes to mine the deposits using conventional surface mining machines. It is anticipated that
mining activities will initially focus on the Western Ridges (Ridge C and Ridge E), which contains over
2 years of mining material.
No pit dewatering is anticipated for this initial stage of works.
Ore will be crushed and screened prior to transport to port. Waste material will be stored within a waste
rock landform.
Mining will be carried out by contractors in line with Alien’s current mining strategy and presents a low risk option. The mining contractor will be selected and engaged by Alien through a competitive tender
process. It is likely that mining will occur over two 12-hour shifts.

4 Ore Processing and Transport
The Project is based on a 2.6Mtpa processing strategy and an eight (8) year mine life. No on-site fixed
plant processing is required. Screening and crushing will be completed by a mobile unit at the mine
face. A haul road between the mine and the stockpile and loadout area at Great Northern Highway will
be constructed. Road transport will be utilized for the delivery of ore to Port Hedland.
The design philosophy will be based on providing a cost-effective processing solution, while maintaining
high levels of reliability, operability, and maintainability.

https://geodocs.dmirs.wa.gov.au/Web/documentlist/8/ML_NUM/M47%2F1633

Bill publicly stated in Presentation the Capex will be reduced.
See E25 deal regarding reduction of costs:
https://www.londonstockexchange.com/news-article/UFO/ioca-executes-mou-for-iron-ore-bunker-allocation/15701736

@JAllis, if you are concerned about the tiny Capex for Hanc0ck, then you need to completely forget about the junior mining sector. Hanc0ck with DSO at surface is the lowest Capex and fastest payback!

Wait for RNS announcements if you want exact figures. One step at a time.

Capex for Han**** is going to be reduced to around $20m due to the deal with E25 next door.

Main expense is for the contractors to build an unpaved haul road to the Northern Highway.

Anglo American will provide:
$10m in Advance Payment Facility
+ vessel prepayments for up to $5m for the first 12 months

UFO already have around $4m in the bank.
Rod mentioned the rest will be a loan.

However, no one is going to fund a mining project without a mining permit!
Therefore, before we get to the funding stage, need to get Heritage Clearance (which is key). Western Australia Department of Mines would then have no reason not to provide mining permit in the Pilbara (next door to other mines).

myavian loading up again! Haha! :)))

Global Times
The return to a normal order in China is irreversible. There are good reasons to be optimistic about China’s development next year:
https://www.youtube.com/watch?v=QaStq9Am_WY&t=9s