Member Info for Max111

Nice to see silver bouncing back also

Hi base_jumper.
You can check live prices on https://finance.sina.com.cn/futures/quotes/I0.shtml
In China red is actually green (since red in China means wealth).
There is an early morning & late afternoon live session.

Everywhere else you see it is with at least a 24 hour delay.

Nice to see Iron Ore bouncing back. Now 640rmb / US$87.65/t. Looking forward to China eventually lifting their covid lockdown next year (hopefully target is for March 2023).
Very glad the real shareholders will have a share of all future profits.

The Pilbara WA, makes up almost 31.5% of the world’s iron ore production due to its high-quality ore and Tier 1 status, UFO is proud to have a product that stands out in such a high-class field.
https://twitter.com/AlienMetals/status/1588169554705846272

Nice to get coverage in China

Alien Metals?????? Hamersley ?????,???????90%
https://tks.mysteel.com/22/1103/15/474D945B1DD319BA.html

As Rod said, "It’s very difficult to get any licence exposure in this part of the world and having licences that have very large occurrences of very high-grade hematite DSO."

Yep, and these are the rates during China Covid lockdown when you need to quarantine for 14 days when you fly in to China, then quarantine for 7 days when traveling from one province to another.

Just imagine if they were to do that to the UK and what that would do to the economy! But China isn't going to remain in lockdown forever.

@Chris2, what are you on about? If you want to go by today's rates of 632.5rmb/$86.77/t, then UFO will be making a profit of over $16/t.
At a full mining rate of 1.25Mtpa, then that will be US$20M profit per year which is huge for a junior.

IOCA update said operating costs continue to be in line with Scoping Study figure of $58.9/t FOB.
Anglo American would then sort the shipping and get standard rates from Port Hedland which are currently $8.05/t.

So breakeven is around $70/t CFR price you see quoted.

Interestingly 2 RNS's today, but no tweets. So Rod style is definitely just to crack on.

The importance of the 1st RNS today for me was that Hanc0ck has been given the nod from 3rd party Anglo American.
We would never have increased to 90% without it.
As Rod said in interview:
"These licences were put together by the team, acquired in sequencing pieces as the company’s CONFIDENCE in these projects grew over time."

So expect Resource Update, Heritage Clearance, and Anglo American deal completing and mining permit etc.

Importance of 2nd RNS for me is that they haven't put EH silver & MM PGM & Gold in the draw on hold:
"pushing forward with the Munni Munni and Elizabeth Hill projects"
So expect an update on these soon :)

Yes Rod mentioned getting a loan. Other juniors got a loan facility, so no reason why UFO can't.

£36 billion Anglo American are keen to get into the Pilbara, especially now that leftist Lula is in power and has vowed to fight iron ore mining deforestation and looking to raise royalties for their projects in Brazil!

Alien Metals has 'exciting times' ahead - broker
https://twitter.com/proactive_UK/status/1587788127762092033

https://twitter.com/research_tree/status/1587775322283466755

"As a reminder, IOCA is aggressively progressing its Han****, Brockman, and the recently acquired Vivash Gorge project towards Direct Shipping Ore (DSO) operations. IOCA is focused on taking the Han**** project into production in the
first half of 2023, this requires a relatively small amount of capital and would be quickly cashflow positive."

H1 2023 :)))

https://www.londonstockexchange.com/news-article/UFO/alien-relinquishes-greenland-licence/15699240

"With the Company focused on bringing the Han**** Iron Ore project into production in 2023 and pushing forward with the Munni Munni and Elizabeth Hill projects the relinquishment of this licence supports that strategy."

Excellent :)

@Chris2, you said:
"I have had death wishes, saying my mental health is poor, a troll, bitter and twisted all of these things."

Why do you think that is?

@Chris2, what is the price of Iron Ore?

This is for Chris2:
Iron ore price today = 629rmb or $86.42/t
https://finance.sina.com.cn/futures/quotes/I0.shtml

Also I forgot mention, just imagine when China ends their covid lockdowns and reopens their economy.

@norm, Iron Ore prices bounced back today. On Asian trade today = 629rmb or $86.42/t which is just around the cost of iron ore production in China.

The low last year after it spiked to $229/t (without anywhere near the infrastructure stimulus) was around $85/t. The Chinese won't let it go below their cost of production for long. Iron ore mining is a very large employer in China.

Alien Metals says it plans to exercise option on Hamersley iron ore projects, lifting stake to 90%
https://www.proactiveinvestors.co.uk/companies/news/997111/alien-metals-says-it-plans-to-exercise-option-on-hamersley-iron-ore-projects-lifting-stake-to-90-997111.html

Alien will pay £60,000 in cash, plus 260 million shares and 100 million share purchase warrants to Windfield on completion.

Not so crazy when you consider as of next year all the infrastructure stimulus projects will start going into development with Keynesian pump priming.
China is launching 1.1T infrastructure spending, US 1.2T (most significant investment to upgrade US infrastructure since Eisenhower!). Saudi Arabia constructing new city Neom (which will have world's largest iron consumption).
India becoming most populous country and tripling their Steel consumption.

The IRA law Green agenda with Biden's $369bn investment in wind turbines and clean energy. High-grade iron ore which UFO have is key for this.

And we have leftist Lula coming into power in world's 2nd largest producer!