Member Info for Max111

If Bill just bought £62,500 worth of shares as UFO non-exec director Mark of https://www.ilaw.co.uk/ (a law firm that has clients like PWC and keeps getting shortlisted and wins awards) did earlier this year, then people will say Bill is getting paid too much! Can never please some!

@Turbo. Just means as of Christmas Eve, when Bill bought £10,000 of of UFO shares, the lab results were not back yet.

Also shows that they are not trying to hold back the results.

BTW, hope you had a nice Christmas. Christmas is a special time for my family. Not a time to spend on this BB with derampers. GL.

Bill really didn't need to buy an shares. He could have just exercised some of his share options that are locked in between 0.45p-0.55p. However, those share options IMO will only be exercised and exited near their expiry (Sept 2023) near to production or takeover.

But at least sends the right signal to some insecure shareholders, or insecure non-shareholders (worried about a move up and are out the market)!

The black out period only applies to JV/acquisitions.

Director dealing. I think Bill is giving us a clue here! Even though he has over 45M in share options.

https://www.londonstockexchange.com/news-article/UFO/director-pdmr-shareholding/15267754

Someone understands the potential of Munni Munni being one of the largest undeveloped primary PGM Resources in Australia and just bought 3M shares.

Bill can exercise some of his share options now and flip them for a quick buck. He had the chance to do it at around 3p.
But he sees the bigger picture and is for the long-run and will most likely exit them at production or takeover (double digits). So 2023 is about right.

*0.45-0.55p

Bill's share options are valid until 2023. No need to buy them now. The price is locked in at at 0.40p - 0.55p.

@Naps, the non-exec Director Mark Culbert bought 5M shares @1.25p.
Bill has over 45M in share options.

Just need to read the RNSs Turbo to understand the plan.

SP has actually been unchanged all morning. Something wrong with this website.
https://www.londonstockexchange.com/stock/UFO/alien-metals-limited/company-page

Just need to wait for the market to start pricing in our 2004 JORC Resource with an in situ value of over $4bn with exploration synergies all consolidated to facilitate JV.

Also Elizabeth Hill assays coming soon. We will soon find out what is in the halo.

As the last RNS stated:
"With the growth of new and vital technologies, cleaner vehicles globally that will need more platinum, palladium, silver, copper, nickel and associated metals in an ever-growing market, we feel this is a fantastic opportunity for the Company and are really excited to get started."

Yesterday's RNS stated, "The Project is considered to be an advanced exploration project".

Already has a 2004 JORC resource of 1.14Moz palladium, 0.83Moz platinum, 152Koz gold and 76Koz rhodium.

"The Project is generally considered to be one of Australia's largest PGE deposits with in excess of A$20m spent on the Project with various feasibility studies undertaken in the last 20-plus years."

JV with Munni Munni can happen any time now that it's consolidated and PGMs are in high demand especially since we are in Tier 1 Jurisdiction. S. Africa & Russia (where PGMs mainly come from) looking a lot more risky.

IMO Munni Munni will be JV'd way before Hanc0ck goes into production.
What happened to GGP when they JV'd with Newcrest?

The option to buy Artemis 70% stake of the Munni Munni PGM and Gold project IMO will not be available in 2 years down the road, and if it is, it will be at a significantly higher price than the combined consideration of £2.66m we are paying for it now. Absolute bargain!
PGMs will be in high demand in the new green economy.
Palladium is one of the rarest metals on earth and even more scarce than platinum – 15 times more rare!

EEE tried to buy some of Artemis's interest last year but Platina took them to the high-court and stopped it. Yesterday's RNS stated that the legal action was resolved in 2020.
IMO UFO bought Platina's interest since it gave them first right to purchase Artemis's interest.
Platina knew it was in everyone's interest to have one company with 100% ownership & control than 4 companies having a claim on parts of the PGE strike. Now it's consolidated, Munni Munni will get unlocked.

Lets compare.
In November 2018 Fenix bought an already inferred resource of 5M tonnes which was previously owned by Atlas Iron.
They then did 2 rounds of drilling to upgrade the resource to 10.5M tonnes. This took them til August 2019.
They then completed a feasibility study in November 2019.
They then spent the next 12 months to obtain mining approval, native title, port shed purchase, off-take agreement, awarding mining contract to MACA Mining etc.
On February 19, 2021, the company made its first iron ore shipment through Geraldton Port.

UFO announced an inferred resource of over 10M tonnes within 8months of starting drilling (we didn't buy an inferred resource as Fenix did). This is exceptionally fast, especially during a pandemic! Then delivered a Scoping Study that "demonstrated exceptionally strong returns" the month after.

Don't worry, ex-FMG Lloyd Edmunds is driving UFO's new Iron Ore Company of Australia (IOCA) towards rapid development.
RNS 1/12/21 "New Iron Ore Company to expedite development" outlines the steps they are taking.
Watch this space!

Also it makes much more sense to sell the Sirius Extension (if required) and then use the surface miner to just trundle along harvesting the ridges. Ridges C&E go on for over 9km! Then there are parallel ridges!
https://www.youtube.com/watch?v=b3PAmjNEdVA&t=2s
https://www.youtube.com/watch?v=eQYLuM-bfTE

Bill previously said he will do RAB/Air core drilling at Munni Munni to keep costs down. Just need to prove the geological model of the PGM strike going all the way to the Cadgerina Dyke, which is interpreted to be the feeder zone of the Munni Munni intrusion and then JV. Already drilled targets 1-3 at the Elizabeth Hill tenement. Now just need to drill targets 4-9. Not a big cost.

To upgrade a 2004 Resource to compliant 2012 also will not be a huge cost. Just some more infill & core drilling with metallurgy work.

If we need money in future, just need to sell the Sirius extension which passes into Brockman Mining's Sirius deposit, or Hanc0ck Prospecting's tenement to the north.

To me it's getting more & more obvious there are some people who are out the market UFO (and invested elsewhere) and were surprised by yesterday's announcement.

Who in their right mind would want to turn down a 70% stake of a 2004 JORC Resource (which remains open along strike and at depth) with an in situ value of over $4bn for a combined consideration acquisition cost of £2.6M!?

If people don't see this as a consolidation deal of a lifetime to unlock Munni Munni, then you shouldn't be investing, or you should to some more research.

No smiller!
Last night you were posting up to 2am on this thread and started posting again from 6am (4 hours sleep).
Get some sleep mate. Not good for your health.
Good night.

Arian Silver kept San Celso and Los Campos in the drawer since they focused on the San Jose silver mine. However, the price of silver dropped to around $14/oz in 2015 when they were going into production and their production cost was around $14.50/oz. They then ran out of working capital and had to forfeit the mine to the creditors Quintana.

They then focused on a lithium exploration project which turned out to be fruitless.

This is a very important lesson why not to focus on just on project at a time!

Bill then got San Celso & Los Campos out the drawer as the price of silver started to head back up.

Ultimately the projects depend on grade (which we have high-grade) and the underlying metal price.

PGMs have a very bright future.

We just acquired a 70% stake of a 2004 JORC Resource which remains open along strike and at depth with an in situ value of over $4bn for just £2.6M. Bargain!!!!
Now we have 100% control & ownership to unlock Munni Munni with JV. Simple. Consolidation deal of a lifetime during a PGM bull market!