Member Info for Max111

Anyone looking at the silver price :))

US Consumer Prices Are Spiking At Their Fastest In 40 Years
https://twitter.com/zerohedge/status/1458429037026684929

This is it Metalhead, we are already significantly undervalued with our "quick & easy" Hanc0ck project and the upside potential with discovering a Julimar PGM deposit as Chalice Mining did is unreal!

UFO website states:
"The RC programme will also test other targets along strike from the mine and the surrounding J-Reef target to the east and south of the orebody within the Elizabeth Hill mining licence."

Air Mag RNS 12/4/21 shows J-Reef as target 3 which they are hoping will have NI-Cu-PGE & Ag.
https://www.rns-pdf.londonstockexchange.com/rns/0686V_1-2021-4-11.pdf

Not sure if people have seen but UFO update their website with better pics of the drill core than what was published in the 9th September RNS.

Native silver with associated copper (green) in drill core, drillhole EHDD003, 16.5m depth, Elizabeth Hill, September 2021:
https://www.alienmetals.uk/wp-content/uploads/2Native-Silver-and-Copper-Mineralisation-Hole-2-16.7m-Close-up-2-768x1024.jpg.webp

Abundant sulphide in veins, clasts and disseminated throughout the core, EHDD004, 87m, Elizabeth Hill, September 2021
https://www.alienmetals.uk/wp-content/uploads/Hole-4-87m-edited-576x1024.jpg.webp

https://www.alienmetals.uk/project/silver-elizabeth-hill/

The CPI (or CPlie) gets released tomorrow at 1:30pm UK Time. Should be interesting ;)

Meanwhile silver keeps moving up and we are about to prove Elizabeth Hill is part of a much larger system and hopefully get the silver permits (“In Mexico hoping to very soon to finalise those permits. Very keen to do some primary drilling on the silver projects San Celso and Los Campos as well as Donovan 2...hopefully I can announce as soon as I can that we have those drill permits done and the drills will be turning very soon.”)

On last Thursday, over 200M shares were traded. All the large sells were going through just above the placing price.
I reckon the share was shorted on that date since they knew they would get their shares back to cover their short at 0.85p 2 weeks later. Very easy arbitrage trade.

Lately I've only been focused on the Aussie projects since the potential there is incredible, but Bill said in the last interview:

“In Mexico hoping to very soon to finalise those permits. Very keen to do some primary drilling on the silver projects San Celso and Los Campos as well as Donovan 2. We know where we want to go. Initial drilling will be as positive as we hope and then we will have some capacity to do some infill and extension work to start working those up properly.”
“Mexico hopefully I can announce as soon as I can that we have those drill permits done and the drills will be turning very soon.”

Last year the SP jumped from 1.13p to 1.53p on speculation that we were just about to get the silver permits.
I reckon Bill at least has the Donovan2 permit since it just needs updating.

I don't have L2, but you can see the figures for free on:
https://www.barchart.com/stocks/quotes/UFO.LN/overview (credit to 5x5 for posting this before).
If you look directly below the SP, you can see the highlighted figures showing that the MMs are willing to buy a lot more than sell (the green highlight is how much they are willing to buy off you at certain price level, and the red side how much they are willing to sell to you).
I can also confirm this via dummy trades. For the past 3 days I've getting quotes to sell the largest amount of shares in one go than I ever have before.

UFO BOD are making sure they don’t repeat the 2 major downfalls of their predecessors at Arian Silver:

1. Working capital. Arian Silver ran their finances so tight that they ran out of working capital and had to forfeit their San Jose silver mine to the creditors Quintana! Running out of working capital is the main cause of bankruptcy for juniors.
2. Focusing on one project at a time. This is what Arian Silver did. After losing San Jose they then focused on the lithium project and kept all the other projects in the drawer. The lithium project then proved to be fruitless and then they were back to square one.

The new BOD’s approach is and has proven to be to use shareholders money wisely and cost effectively to develop the projects simultaneously to a point where they attract a JV partner.
It only takes one thing for the price of a metal to pop, then everyone starts banging on your door.

With regards to Hanc0ck, they already told us it required a capex of $30M/£22M (which is absolutely tiny in term of mining projects). I was willing to hold and ride any turbulence even if they raised the full capex since it would mean unlocking over $1bn!
The banks won’t lend at this early stage, but once we upgrade the Resource from Inferred to Indicated and have the mining permit and off-take agreement in place, then we can easily borrow the rest via debt and pay it back quickly. Fenix paid off all their debt within 6months and then paid out significant dividends to shareholders.
Harvesting the ridges will then be a cash cow for us.
The BOD are taking the right approach.

When comparing, it is important to note that Fenix's tenement is the size of a postage stamp in comparison to Hanc0ck.
Also their operating costs are higher. They have a strip ratio of 2.86:1 meaning that mining 1 tonne of ore requires mining 2.86 tonnes of waste rock.
UFO has an exceptionally low strip ratio of 1:1 on the ridges.
UFO has Operating Costs of below $60/t FOB. But that is for the whole 10.4Mt Resource including Sirius.
Unlike Fenix when mining the ridges we don't need a drill machine and explosives (which are the most expensive part of mining) to keep drilling down and around the ore body. We just use a surface miner https://www.youtube.com/watch?v=eQYLuM-bfTE
Costs for harvesting the Ridges will be much lower than $60/t.
The company plan to mine the ridges first and already have in excess of 2 years extraction at ridges.
However, the ridges continue for over 9km and there are parallel ridges, so the ridge resource will be massively increased https://www.youtube.com/watch?v=b3PAmjNEdVA

The bill is expected to be the biggest upgrade of America's roads, bridges and airports in a generation!!
https://twitter.com/Reuters/status/1456980940274634758

The $1.2 Trillion Infrastructure Stimulus will start filtering through just as we start going into production. Perfect timing :)

13M buy from yesterday now showing :)

Sounds like Bill has got a deal with a third party to work on Elizabeth Hill:

“We are looking at opening up the old underground mine. We are just finalising discussions with a party to do that.”

At the placing in September, an Exclusivity Agreement was announced 5 days after placing!
What type of deal is it with the other party? JV deal? We will very soon find out!!!

Yes Steve, that's the way it works.
People think raising £4M is easy!
Obviously they had to entice the placing investors with future positive news flow. The placing investors won't invest £4M to make a loss after placing is announced.
Heavy news flow due to start very soon. This will be back up to a penny very soon, then heading to 2p.

The company is now in a very strong financial position and have proven to call the right shots every step of the way.

They have a long-term plan. Before they used to go to the market for funds every quarter. But now they have shown to take larger amounts and use the funds very wisely and cost effectively (last placing was 12 months ago!).

And once they do the work they have set out, the SP is going to be multiples of where it is now when they do the next raise, so less dilution in future.

-Phase 3 infill and extensional drilling on the Han**** Iron Ore Project
-Permitting and infrastructure planning to move the Han**** project towards mining
-Ongoing exploration around the Elizabeth Hill Silver project
-Exploration drilling in Mexico;
-Early stage exploration on the Company's regional tenements including Munni Munni North and resource drilling at the Brockman Iron Ore Project.

Then once they start harvesting the ridges, no more placings :) Incredible upside!

Don’t look a gift horse in the mouth. Take the gift.

Wents you will now definitely owe me £1 by xmas!

Within 12-17.5 months the surface miner will be rumbling along the ridges and we will be making profit on a regular, regular basis.

Elizabeth Hill news due very soon.
Best investment opportunity on AIM IMO.

Over 150M shares traded so far today.

Yes, looking forward to unlocking over US$1bn of DSO!

@norm, once we start producing within 17.5months, then no more placings.
Fenix paid off all their debt within 1/2 a year of production and paid out significant dividends to shareholders and have a policy to “distribute between 50% and 80% of after-tax earnings to shareholders in the form of dividends, either annually or semi-annually."

4M buy at 0.93p :)