Member Info for Max111

In Turner Pope's 2/12/20 Research Note it stated that neighbouring our tenement included the Hamersley-Channar iron ore mine which was a Rio Tinto JV through its wholly owned subsidiary Hamersley Iron and Sinosteel Channar.
The mine produced 11M tonnes per year and produced total of 290M tonnes and is now at the end of it's mine life and is expected to close next year.

Rio really need to invest in new mines! And also in the high-grade stuff!

Not necessarily the case. Eg Capstone signed JV even prior to drilling.

Bill said once he has the independent MRE from Howard Baker (now obtained) he will show it to potential partners and then show the potential of the other holes in Hanc0ck.
Also Howard Baker did the Resource Estimation for Rio, so obviously they trust his work also.

Bill used to work for Rio and has the contacts there.

Just imagine a JV with Rio who have a unit cost of under $20/tonne! (mouth drooling!)

Rio will need to do it IMO.

Yes this is very interesting 5x5.

In the FT today it stated:
Rio’s problems in iron ore trace back to 2013 and a decision to delay spending on new mines to replace ageing pits. As a result, the company has produced an increasing amount of lower grade iron ore. In the three months to the end of September, Rio produced almost 9m tonnes of this lower grade material, known as SP10.
https://www.ft.com/content/3a555491-dd07-4701-894f-58762175e7a0

Rio will need to reverse their 2013 decision to delay spending on new mines asap and stop producing the low grade SP10 rubbish and start producing high-grade DSO which is what the Chinese are after. DSO is most efficient & least polluting when converting into steel.
Thankfully we are right on Rio's boarder :)

UK Royal Mint Runs Out of Silver Blanks.
https://twitter.com/DunagunKaiser/status/1448728910984794122

Starting to feel like #silversqueeze part2 :)

Good to have you back on the BB MrPositive :)
There are some investors in UFO who are also invested in GGP. Last Thursday a couple of large sells in order to generate funds to do a swing trade into GGP for the PFS then triggered more sales and move people to try to get on the swing trade. That day 72M shares were traded. I think we saw a bit of that today also.

I think the tech team will have similar success to GGP in searching with new technology of the Air Mag Survey under cover in order to find the source of Elizabeth Hill. They delayed Phase3 drilling at Hanc0ck to do a sudden follow up RC program at EH, so I think they are definitely on to something as the last EH tweet showed.

Yes I have a strong feeling that the Scoping Study will show the economic potential of Hamersley (otherwise why would they announce it in advance and set themselves up to fail). A lot of people are still on the sidelines waiting for the Scoping Study.

Adding at the 78.6% Fib Retrace is buying at the best price for the past 12 months.
Money will flow back very soon as the metals continue to power on. People still don't understand what is about to happen with silver and UFO is the best junior silver play on the London market.

This should now be the last chance to accumulate at the 78.6% Fib Retrace.

GLA Aliens :)

2M buy just went through. Buying at the 78.6% Fib Retrace has been the bottom all year. And now silver breakout finally imminent.

I forgot to add that EH is also now in a better jurisdiction of Australia than FRES's mines in Mexico (under current government).
Which is why Keith Neumeyer of First Majestic is now looking at prospects in Australia.
Plus EH is proving to be part of a much larger system and has access to power from the grid, so can rapidly go into production (compared to the other junior miners exploration greenfield/brownfield tenements).

Yes it's all about risk/reward. I prefer more reward, so willing to take more risk since I'm very bullish on silver. But I've done my research on Elizabeth Hill, so I personally see low risk (the silver is actually there). There is no doubt EH will go into production at the current and expected future silver price.

Silver juniors show strong correlation with silver. Just need to compare SILJ with Silver on a chart.
But they give you much higher leverage on the metal. Which is why I'm invested here and not in FRES.
It's very difficult for FRES to bag , but UFO did within 3 days of #silversqueeze part1.
This time however, IMO we will break through $30 and head to $50.

With a $2,440 price target for gold, you can just imagine silver with it's historic average of 15:1 and then how many times the silver juniors will bag!
https://twitter.com/TheLastDegree/status/1448363498963148807

My point is that today was a shift in sentiment in the sector which is key.
First Majestic is a leading indicator.
SILJ is an ETF of junior silver stocks.

Sentiment should now come back provided there are less smack downs in the spot price which is likely since more & more participants are leaving the paper market and they are losing control as we go into a strong PM season. Huge re-rate in silver & especially silver stocks coming (junior silver stocks giving you maximum leverage).

First Majestic currently up over 8%. SILJ up over 5%. UFO will have some catching up to do tomorrow. Good luck shorters!

I can't believe people haven't figured it out yet! Hello anybody here! Lol

Very interesting:
https://twitter.com/TheLastDegree/status/1448295845280075787

It's all about the numbers coming off the project. There are obviously a lot of people who are sitting on the sidelines and unsure of the economic potential of the project. They will be very surprised as the SP re-rates IMO.

Classic manipulation. They hammer PMs to take out the stops, then buy back up.
Their game will be up soon. Then we will see the real price for silver.

Looking very strong just before CPI release at 1:30pm.

This article gives a little taster:
https://www.miningnews.net/resource-definition/news/1418230/maiden-pilbara-resource-for-alien