Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Im not too bothered about today.. its the general "theme" thats important here.. if Kibo stay away from the sell button for a while and updates keep flowing then at some point the market will take notice..
Its only my view that this company "could" be undervalued.. each hurdle they jump makes the thesis more credible..
So far so good.. keep it going Mast... anything under 2p could turn out to be a real bargain in 12 - 18 months from now..
So the volume today is not amazing .. but the sentiment is in the right direction.. Mast are clearly ticking off boxes and starting to turn a corner.. We dont know what Kibo will do .. but to me they would be mad to keep selling off their stake when this could be the turn around story of 2024..
The MCAp is ridiculous as the asset value is far more than 1m..
I like the plan, its simple easy to understand and profitable.. If Mast can keep their promises and stick to the plan this could be a very profitable and sustainable business..
Tbh.. the issue was never "can we sell the product" that's a given.. the demand is there 100% the issue is can UFO get the funding to get the mine / road to get the Ore / to screen it and load it into the trucks and away..
For me the JV model doesnt really work on Hanc0ck.. Happy to be proved wrong but I just dont see that the margins are wide enough.
with Ore at around $110 and FoB at $85 then $25 Gross per tonne.. there are likely other costs like further Drilling etc.... so even if its a 2Mt producing Mine how much would UFO get from it ?
As a shareholder surely everyone wants to see the maximum profit realised.. For me a mining / management contract would be much better.. a JV suggests that an "earn in" agreement is on the cards..
@Devil if we dont find support at around todays price.. then who knows we could be on the way back down to 11 ? the volume really just went out the door.. so im really hoping this is just a pull back and not a resumption of the down trend.. then its got to hold at the double bottom..
Did you get out at your 0.22 price I think you were saying ?
Its not scientific (so dont hold me to it ) but the volume today was well below that of the previous few trading sessions.. "usually" a pull back on lower volumes is what you would expect during an uptrend.. the opposite on the downtrend.. thats not to say that the price wont just carry on down.. (as it has many times)
To be fair UFO is slowly creeping much closer to mining Hanc0ck.. quite a few of the jigsaw pieces are now in place and the de-risking continues until its either mining or its not.. I suppose the next news we would be interested in will be the financing / offtake agreement and FID as per the current corporate presentation..
We would expect that the funding / offtake and FID by the end of Q2.. then that's it.. the next stage is construction of the mine!!
My best guess is that EH might become a JV if any half decent offer is on the table, this potentially in an effort to try and get the SP higher for funding.. the company is clearly struggling to convince the markets that its a serious proposition.
If Iron Ore holds up at well over $100 then that would also be a big help..
Its a pullback.. Silver got hammered today.. but is still $27 per oz.. lets be honest did anyone think it would go over $30 without reply ? the rally ran out of legs twice at $29.. so it will go down and then find some new buyers.. or maybe not ?
this is the nature of price movement.. it might be a good thing if UFO pull back a bit.. as long as the longer term downtrend doesnt persist then its fine..
If the downtrend carries on then "mind the gap" as its going to be brutal.. its a bit of a pain as I need to move some of my holding from one account to another.. i was going to sell this morning but someone beat me to it... grr
@Steveiom sounds like common sense..
the real positive from the license is that UFO are now forced to act, so lets see if they can get a deal off the ground and get boots on the ground for Hanc0ck.. they really have to step up or be exposed..
im really not sure what will happen at EH.. but some update on the state of the mine would be nice at some point.. i doubt there is much to see from a geology point of view without being able to enter the mine itself.. the area of EH is pretty small and its already been drilled.. so i doubt much more information could be got from a surface visit..
Interesting trading again this morning.. its still high volume stuff.. a lot of chunky trades still going through..
I though things might settle down this week.. perhaps they will but it seems the traders are still around for now. the downtrend has not been broken yet .. and "someone" is doing their very best to keep that in place.. so if it sticks then its lower than 0.0011p
Its big churn.. todays volume was really big.. the tide is turning... there might be some folks who just wanted out, there are some traders who made a few quid getting out..
for me this is a great sign.. if the volume persists the sellers will eventually dry up..
The key here for me is that we close the weekly above the downtrend line.. fingers crossed we are almost saying goodbye to the 3.5 year downtrend.. thats not going to be easy.. and i am sure that there will be many seller that use mechanical systems are the strong skew is towards that trend continuing..
IF we can shift and break away from that downtrend.. the next price target is the 0.0033p level.. which for me would mean that we would have not only broken the downtrend but we will have entered another uptrend..
Could take a few months for this all to happen.. but this week has been the best week for years.. just hope its not yet another false dawn..
UFO BoD could really step up here when we have the momentum..
There's a lot of volume about in the small resource sector atm.. market wide trading is pretty heavy.. so i dont think this is just UFO related..
Those who were around in 2020 know that you could have bought almost any small resource stock as they all went to the moon..
In the case of UFO.. we might have some good news fingers crossed.. but if money flows into this sector then it wont really matter..
Well someone sold 20M.. but there's a lot of buys coming in to soak it up .. it looks like it will be a green day at the moment..
Something is defo going on.. it weird .. why would UFO be over at EH ? the plot thickens...