Member Info for Metalhead25

Ella, as the original author that list, I can confirm “Banana Zone” was intended as a reference to the LVR JV licence which Kav regard as a Banana Zone analogue

Steveiom, what has happened to you? You used to be alright, didn’t you? I seem to remember you making some reasonably constructive comments back in the day. Now you seem to be spending all your time on LSE just trolling the UFO board (100% of posts in the last month). What’s the point? You’re not adding anything anymore

Nice summary from Brett. Plenty to look forward to

Thanks Mike. I do think this is a very good investment. I have a fairly strong instinct to buy more, but my joint largest investment, Kavango, is down a lot in the last month or so after a drill missed the target (the target is there, they just missed it, which means a delay, and people can’t be bothered to wait…) and that is making me a bit more cautious elsewhere. Not sure that’s particularly rational though so I might have to sack up and buy some more motherfudging Corcel. Will see

I must say Mike, you’re certainly putting your money where your mouth is on this. You seem like a great guy and I really hope it works out for you (and all of us, of course!)

Seems like a very clever bit of corporate work.

1. We maintain an indirect stake in Big Bear
2. Greater prospect of Big Bear being explored near term
3. We gain exposure to other Fulcrum projects
4. Acquisition of new gold project

Overall, a significant expansion of our project exposure but without over-stretching the company. Well done, Darren

A twitter post from the company yesterday indicates that they are analysing all the data from the KSZ with a view to producing a comprehensive exploration update and plan. This seems a sensible approach and explains the current quiet on the KSZ

Patience required, I think. We are currently at a sentiment low. Those who were here for a one-off gamble on a drill result have departed, and the resulting share price drop has led some more to sell. The board has several shareholders putting off new investors with incessant negativity (ahem). It’s a bad time for sure. But we’ll shortly be drilling in Ditau, there’s lots more to come on the KSZ and we know from twitter that the only thing holding back the KCB is target selection. Give it a bit more time and things will start to turn around and the SP will push up again. All just my opinion of course

I’m going to blame my 3-yr old daughter asking me to wipe her nose for the fact that I headed that post “RNS” when there isn’t one. It was meant to be headed “Iron Ore”!

DSO grade iron ore up to $161 this morning, a 7-month high. UFO’s gross profit margin on Hanc0ck over $100/t at these prices, implying total gross profit on the already declared 10MT resource of $1 billion. (Need to knock shipping cost off these numbers)

Real range of emotions on seeing today’s RNS.

First up: “Placing…” Oh god, really. They just said they were well funded. Hope it’s not at a big discount.

Followed by: “Oh, it’s just the directors buying shares.” That’s a good thing. And relax

A reminder that Horizonte Minerals, which has broadly comparable nickel assets but is further along the curve, has a market cap of £260m. That is about 40 times our current market cap

Good posts, Mike and Sniper. The way I see it, the downside risk is always there in this sector (just look at Polymetal, the biggest/“safest” UK gold miner) so it makes sense to maximise the upside risk. You put £10k in Polymetal last year - it goes badly you have nothing, it goes well you have £15k. You put £10k in Corcel - it goes badly you have nothing, it goes well you have £200k (could easily be more). I like this balance of risk and reward

Maybe Align have noticed we’re holding one of the world’s largest undeveloped nickel resources (I mean Mambare and Wowo combined) which is somehow being valued under £5m…

Cheerful soul, aren’t you Steven? All seemed pretty positive to me

Very good positive update. Mostly things we already knew but nice to have bang up to date confirmation:

- very well funded;
- peaker funding discussions still ongoing and on track;
- on the look out for additional FGS projects;
- positive outcome expected on Mambare mining licence;
- mining licence on Wowo to be fast tracked;
- discussions with NPC continuing.

Would hope to see an SP bounce in the next few days

I certainly don’t think people should sell up if they “have questions over the performance of management”. I agree that is totally standard and an essential part of investing. What I struggle to comprehend is believing the CEO to be *dishonest* yet still holding.

Anyway, I’ve said my bit on this - will shut up now

Some people have it in them that they always feel under attack, and one common manifestation of that is construing damage done by others as deliberate or even malicious when it is really accidental.

In reality:

- BT is honest and doing his best, and the fact that your investment is down doesn’t change that.
- You’re not under attack from me or D220 (or Boaty). We have all written perfectly polite and reasonable messages. We disagree. Doesn’t mean we’re out to get you.
- Neither D220 nor I told you to grow anything, or to sell. Both of us made a point which is not unique to you, which is that there’s no point staying invested in a company if you don’t trust the CEO. Again, this isn’t a witch hunt; it’s a perfectly prosaic, rational point

Really? I think he’s pretty measured on the substance, and clear about the limits of what he’s saying. Sometimes the excitement he’s feeling comes through in his voice, but that’s a different thing. The allegation that he “intentionally” leaves things open to interpretation is in my view utterly groundless. As D220 says, if that is your genuine reading of how your CEO operates, it’s time to sell. Personally I think you’re totally misreading the man. I think he’s a good guy, an excellent communicator, and someone who is anxious to play by the rules. I share the view that he may have misjudged the comms blackout in Jan and Feb, but if he did make a mistake there I’m sure it was an honest one

The level of positivity on here in response to this RNS makes me think I must be missing something. Yes, various features of the intended terms look positive, but they are only a proposal. I read today’s RNS as basically saying we haven’t made any real progress in the last six weeks. What am I missing?