Member Info for Max111

All I want at moment is for the SP start to reflect Hamersley's 90% interest downside valuation = £106,796,800 (2.95p/share).
Then reduce the aggressive 60% discount factor.

In the interview Bill did on the day of the 90% increase deal, Bill said one of the options might be we get a cornerstone to push us ahead (which stuck out to me). This might possibly be him. We will soon find out.

But as you pointed out earlier starbright, the director of Bennelong is Richard Shemesian who "has played a significant role in a number of companies that have transformed into producers or have been acquired by way of takeover."
https://minesandmoney.com/London/speakers/richard-shemesian/

IMO this fits in with the potential of the Hamersley project. But everyone has to judge for themselves and place their bets!

@starbright, You say, "If beneficial ownership was the same I think the TR1's should have been avoided"

How would that be possible if we are acquiring 80% of Windfield. The increase of 90% interest in Hamersley didn't mean we can take ownership own Windfield Metals Pty Ltd shares. They got those shares for selling us the initial 51% interest.

New 90% interest in Hamersley giving us a downside valuation of £106,796,800 (2.95p/share). This will be a blip.

I guess you sold at the low today? SP is 1p now. What will you do? LOL

RNS 20/5/21 stated:
"Following completion, Alien will appoint 2 directors to the board of Windfield and will be responsible for day-to-day management."

@starbright, all research indicates that Hamersley will go into production starting with the Sirius Extension DSO, and especially around hole 48 = "103m @ 61.8% Fe from top to bottom and was still in ore when the drilling had to be stopped." The economics are too compelling for it not to.

Then who cares what happens to the shares when UFO is massively re-rated?

@Starbright, with over 100% profit margin involved with the Hamersley project, why do you doubt it will go into production?

And if it does go into production, why would he sell prior to UFO receiving a JORC resource within 4-8 weeks from now?

As per the RNS & Research Note, "Significantly, this move will provide increased flexibility to fund the Projects via joint
venture, partial sale or spin-off."

Richard Shemesian, "has played a significant role in a number of companies that have transformed into producers or have been acquired by way of takeover."

The point is that the TR1 on company website Windfield Metals Pty Ltd. shares had to be transferred since we will be acquiring 80% of Windfield.
Otherwise the transfer of the 220M shares that has just taken place could have been avoided.

*Since we will now own 80% of Windfield (the company that previously owned 100% of Hamersley).

Windfield (the previous 100% owners of Hamersley) sold 51% of the project to UFO.
Those share were listed as TR1 on company website as Windfield Metals Pty Ltd.
They have never sold any of those shares.

The previous RNS referred to the owner of the remaining 49% of Hamersley as "the Windfield seller".

Since we will now own 80% of Hamersley, the 220M shares have got transferred to Bennelong Ltd.
Therefore, "the Windfield seller" selling his stake of Hamersley (keeping 10%) should now be getting an additional 200M shares and therefore I expect a new TR1 as soon as deal is finalised.

Yes, I expect to see another TR1 for an addition of 200M shares to Bennelong Ltd once the 90% deals is finalised.

UFO's valuation is all about Hamersley, and today we get confirmation we have increased our interest in Hamersley from 51% to 90%.

Also he never sold any shares after watching the SP go to 3p.
Also he voted for the BOD during the last AGM.

IMO, he is after transforming UFO into a producer (after we get the JORC resource within 4-8 weeks) or get it to a point of takeover. Just my view.

I don't know if they were a shareholder prior to the Windfield deal, just know that's how they acquired 200M shares.

@StarBright, Windfield acquired the UFO shares when they sold 51% interest in Windfield to UFO. It was a share deal.

* or takeover.

@HH, Richard Shemesian "has played a significant role in a number of companies that have transformed into producers or have been acquired by way of takeover."

With profit margins of over 100% at Hamersley, IMO we will definitely go into production.