Member Info for Max111

Alien Metals appoints Bluejay Mining founder Roderick McIllree as executive chairman
https://www.proactiveinvestors.com/companies/news/991986/alien-metals-appoints-bluejay-mining-founder-roderick-mcillree-as-executive-chairman-991986.html

Who do people think got Anglo American with head office in London on board?
Do you think Bill got into their office?

"pursuit of scale across multiple assets with a world class counterparty."

As Metalhead said regarding Munni Munni:
"Seems to me there is almost no value attributed to that project in our SP, yet we know there is 2.2MoZ of PGMs, equivalent in value to some 3-4Moz gold. "
This is very true.
Get ready for that value to start to be shown in our SP now Rod is on board to execute.

Rod is exactly what UFO needs and now he has 230M reasons to drive up the SP.
Watch this space!

He is now highly incentivised to push UFO to current Fair Value of 2.7p.

@Bishop he doesn't get shares for free. He has to pay for them if he chooses at the exercise price. Then the money goes to UFO's bank.

I like what he said:
"Munni Munni and Elizabeth Hill are high-grade representations of two very rare types of mineralising events that both demonstrate the necessary characteristics required for significant metal accumulation."

Board Strengthened with Appointment of Roderick McIllree as Executive Chairman
https://www.londonstockexchange.com/news-article/UFO/appointment-of-rod-mcillree-as-executive-chairman/15617301

The way I see it is that Anglo American want us to invest $5M of our own funds into the Capex which reduces risk for them, similar to getting a mortgage from the bank. I don't think they care so much how we raise the funds.
Plenty of news to come out before then though.

As the projects gets more & more de-risked, the re-rates will come and we will move towards Fair Value which is 2.7p.
People are just not connecting the dots and seeing the bigger picture in the Pilbara which is surprising considering the news recently.
Just a matter of time.

Also recent RNSs indicate we have over $5M cash in the bank.

Regarding Hamersley RNS 24th August stated:
"In the 12 months to 31 December 2021 the Projects incurred costs of US$1.5m"
That's what it cost to drill over 100 holes, JORC Resource & Scoping Study.

Financial Results for Year Ended 31 December 2021 stated:
"As at 31 December 2021, the Group had US$6.4 million cash."
Then we raised around £700-800k cash via warrants purchases early this year.
Therefore total cash in the bank early 2022 = US$7,250,000.

Total costs so far this year will be well below $2,250,000.

This means we have over $5M cash in the bank.

The next interim report will be out end of this month, so we will have a better idea then.

Coverage in @Mining_Review on our recent acquisition news at the Han**** #IronOre Project
https://twitter.com/AlienMetals/status/1567181347730382851

Notice how Bill didn't mention anything about EH & Munni Munni.
We were due to start drilling Munni Munni back in May.
IMO there is something that Bill cannot divulge right now (ie possible blackout).
Rod should be appointed & approved very soon. Let see what his plans are regarding EH & Munni Munni :)

https://twitter.com/Share_Talk/status/1567136553176113158

You have hit the nail on the head smiller. We are obviously not!

The one main thing I have learnt from this BB is that when you get the "LTHs" and new posters on trying to undermine the SP, that's when we move up.
Why? Because they want to buy back or worried about a move up. Simples

@HH, instead of posting more wishy-washy BS rather than facts let me know once you have got some shipping quotes from Port Hedland. Bye bye.

@HH, you are the one claiming to be a silver bug whilst suggesting $16/oz!

You did state before you want funds to focus on EH and “drill it like Swiss Cheese”.
With EH, we never actually need to mine it for investors to make money. Just need the price of silver to try to break out and the SP of UFO will double (as we saw on the attempt to break $30/oz last year). If Anglo American want to JV and unlock EH & Munni Munni (which I believe they do since they will want the US$5bn PGMs and battery metals also in Tier1) then I’m very happy with that.
Ex-Bluejay Rod will have more to say on this soon.

I only call out BS, which is why you get upset with me when I call you out for posting lies like shipping from Port Hedland will be the same as Geraldton. That is total BS!!! Do some research!!! Get me some quotes and compare.

You claim to be a Mystic Meg but were wrong all last year.
You were then one claiming DSO takes half a decade to mine, and I corrected you by posting the Proactives Article.

If you get upset by me calling you out for posting lies, then that is your problem.

@Smiller, yes of course. Bill's not going to be adding the fuel additive, but he said in the Presentation the Haulage Company are looking into doing that, which will bring down costs.
I just get annoyed when people have done zero research on shipping rates from Geraldton vs Port Hedland. Very, very big difference!
HH wants UFO to focus on Elizabeth Hill, when there is more money to be made at Hanc0ck, then overall operational costs will also fall with Brockman & Vivash being closer to port.
EH will be mined after Hanc0ck (which wont be long) which has high-grade DSO at surface with strip ratio of 1:1!
Fenix has a strip ratio of 2.86:1 meaning that mining 1 tonne of ore requires mining 2.86 tonnes of waste rock!

Fenix's US$43/t of additional costs above their quoted FOB costs of US$62/t are their very high shipping costs having to ship out of little residential town Geraldton.

Our all inclusive FOB cost including taxes & royalties etc is $65/t (with current price increases).
Add freight from Port Hedland for CFR Iron Ore price +$7.85/t:
https://www.ssyonline.com/free-charts/bulk-carrier-freight-rates/#
Add extra 50% on freight for arguments sake = $11.78/t freight.

Total cost CFR = $65 + $11.78
= $76.8/t.
Therefore, at over $80/t Iron Ore, we will be making more money than silver miners (which make about $1/oz).
Chris Ellison of MinRes at the Financial Year Presentation just stated:
“I don’t think we are going to see Iron Ore getting back around the $80/t level."

Plus the US$10M of debt funding will be repayable over two years from royalties (from profit, not cost).
We can pay that off within 6 months with strong iron ore prices (Fenix paid off all their debt within 6months).

Then account for cost reductions. Bill said they will look into using fuel additive which reduces fuel cost by 10% as Sulnox's CEO stated.

Plus MinRes Ellison said Kenworth to use Hydrogen injection that bolts on the side of the engine which adds water and gives 30% fuel savings!

Steel Orbis:
"Alien Metals and Anglo American ink deal for Han**** IronOre Project"
https://www.steelorbis.com/steel-news/latest-news/alien-metals-and-anglo-american-ink-deal-for-han****-iron-ore-project-1258844.htm?searchKey=Alien%20Metals&sc=article

It's also priced in Chinese Yuan so need to convert to USD

@DRB, the price you are seeing at $95 is with at least a 24h delay:
https://markets.businessinsider.com/commodities/iron-ore-price

Prices have been moving up in the past 24h.
Best website I have found for live trades on Asian market is:
https://finance.sina.com.cn/futures/quotes/I0.shtml
(when it's in red, it is actually green! In China red is a lucky number and means wealth)

Hi Chrisatbirdies. I believe that is the DSO CFR price.
But we do get a premium for lump product. So we can always stockpile and sell the lump product when prices are low in order to maximise on short-term profits.