Member Info for Max111

They plan to harvest the higher grade first. Ridge C has grade of 61.9% Fe. The ridges then continue for 9km! Then there are parallel ridges!
There is a team doing reconnaissance and traversing the ridges at the moment.
The Resource will keep growing & growing!

"The average grade of the Western Ridges DSO product to date is around 61.5 % Fe, with initial ore proposed to be mined from Ridges C plus E which together presently offer a volume of 2.6Mt, or in excess of 2 years extraction at the proposed rate."
https://www.alienmetals.uk/wp-content/uploads/AlienMetals_19_10_2021_FINAL_BG.pdf

Wow, that's a huge difference between Fenix & UFO's strip ratio.

Fenix has 1 narrow biff going down that is optimised to open pit mine to depth of 155m. Then after that it gets more difficult.

Fenix have to keep drilling & blasting down. So a lot of waste around the biff.
TNT is the most expensive part of mining. Every time they they flick the switch on large mines for blasting costs at least 1/2 million dollars!

With UFO, we just need a surface miner that trundles along harvesting the ridges! Big difference!

Yes big difference between Port Hedland and Geraldton Port.

NT to buy at the close again :)

Apart from our extremely low strip ratio, another reason why our Operating costs are low is that:

We are 435km to Port Hedland.
Fenix’s nearest Port is Geraldton Port which is 490km.
If you are using Geraldton Port, you have to warehouse all your ore. If you look at Google Maps you will see why:
https://www.google.co.uk/maps/@-28.7767349,114.6011659,1013m/data=!3m1!1e3?hl=en
Geraldton Port is in a residential area with a nice beach and yacht club etc. You can’t have the ore blowing around.

So at Geraldton you have the added cost of warehousing it, higher processing costs due to much smaller scale and most importantly you are limited by how much your warehouse can store and by the size of the ships that can come in, which explains their higher shipping costs.

We don’t have that problem at Utah Point Berth, which is a public facility Open Access Berth, which 500,000t ships can use.

Plus the fact that we are so close to Newman, means that we don’t need to build any accommodation facilities and can easily attract workers via contractor company such as https://www.maca.net.au/

So these are important key advantages for UFO.

I've noticed a pattern of a 5M buy coming in for past 2 days.
Yesterday it was at 11:16am.
Wednesday it was at 11:24am.

Someone loading up.

No StarBright. Why would we pay for the clients ship that they are brining in?
Bill also mentioned somewhere else that we just pay for the processing fees at public facility at Utah Point Berth.

Thanks again StarBright. You will make me very rich :)

StarBright. No Bill was referring to the fees as the processing fees of Utah Point Berth.
Listen and pay attention:
https://youtu.be/Wv2EtlNjglQ?t=1018
The client uses their own ship!

I knew you were after the DSO from the very beginning. But thanks for that, since you switch my focus away from silver to DSO.

Hi StarBright. Why do you assume we will be selling to China? Fenix has an off-take agreement with Sinosteel.

In the Investor Webinar Bill was saying we take it to port to Utah Point Berth, which is a public Berth, pay the processing fee and then the buyer bring in their ship and pays for the shipping cost.
The buyer brings in their ship, whichever one they want whether it’s a 100,000t or 500,000t ship it’s up to them.
Anything over $60/t is pure profit for UFO.

Plus DSO sells for a premium.

Even if we make $10/t, that is a very significant profit for a junior company. Silver miners are lucky to make $10/oz. Hence why the market will start attributing significant value to our Resource (previously there was almost zero value) and the share will keep getting re-rated.
Plus 10.4M tonnes is only the tip of the iceberg. Only 1/10 of Hanc0ck has been covered!
Then add Brockman.
Plus EH & Munni Munni etc.

The Hanc0ck DSO has literally broken a 10 year downtrend! The SP will continue to move up from here has we develop Hanc0ck and start production in less then 18 months.
Hats off to Bill & BOD for picking the projects and having confidence in them. Looking forward to harvesting the ridges :)

@Haych, EH Bill said he has been promised EH results mid-late Nov. This is a different lab they are using so guessing they had the availability.

But the rise we are seeing now is all about the news last week. The SP will keep rising as the market digests and then we get the EH results! Wow!

Surprised the penny hasn't dropped yet!

As I said, the dips will continue to get bought. Fundamentals of unlocking over US$1bn with operating costs of under $60/t and production in less than 18months way to strong!

Those sitting on sidelines still watching :)

Nice one MP :)

Also the problem with Fenix that is reflected in it's SP is its 6.5 year mine life, and they have just used up 1 year!
It's like a small burning candle.

With Hanc0ck and Brockman UFO doesn't have that problem since it will be adding lots of candles. The DSO will be a cash cow and as Bill said in the Webinar provide significant profits on a regular basis.

Bear in mind though that we will never do any actual mining ourselves as TP's Research Note stated. We will use contract miners.
Fexnix uses https://www.maca.net.au/ do do all their mining. See article https://www.australianmining.com.au/news/fenix-reaches-iron-ridge-nameplate-capacity/

@Haych. In the interview Bill said, "Certain parties looking for material might say that will be a great source of product for the next 5 years starting in a years time, or 18 months time."
All depends on the off-take agreement I guess.

.

@eatstocks, have a watch of recent Investor Webinar and interview:
https://www.youtube.com/watch?v=Wv2EtlNjglQ&list=WL
https://www.youtube.com/watch?v=Y_Mdg3-zwJs
It's all about unlocking billions of dollars of in-situ value whilst providing maximum return for shareholders. We now have est operating costs of below $60/tonne.

@Stampee1, that was from the RNS 25/8/20 which set out the est exploration targets.
The did a data compilation with over 600 reports, maps etc.

They started the detailed geo mapping and sampling RNS 22/09/20.

9/10/20 RNS reported a larger amount of Brockman Iron Formation than originally thought! Then the SP rocketed!

Regarding Hanc0ck, Lloyd Edmunds is already looking at partners, and off-take agreements etc.