Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
@5x5 yeah I think the youth are more likely to look at Tech / Bitcoin.. mining and exploration seems like a lot of other unloved indusrties .. its funny how the digital world seems like its completley detached form the physical world which is of course utter nonsense..
As to my point.. at some point in time people will realise that everything need physical resources to exist.. even Bitcoin
For petes sake.. we were only trying to have a philosphical discussion about the markets.. and low and behold it turns into an argument started by the class clown C2 yet again ..
For what its worth.. its not clear to me how this is going to end up.. do the small markets just keep going lower ? the only people with any money seem to be the banks / hedge funds.. and they only seems to be interested in Big Tech.. you wonder if there is a tipping point where resource companies will collapse and cause a major issue in supply..
If you look at Barrick Gold the SP is really subdued even though Gold is trading near ATH ? something has to give here
Just some thoughts on the current markets .. to pass the time while we wait here.. I have been looking around the markets especially in the UK / AIM and im wondering if the 2020 liquidity bubble has finally deflated..? has all that money now been lost or liquidated.. ?
SO many stocks have reverted to their pre pandemic levels after huge spikes and years of grinding downtrend.. especially in the resource sector.. even with gold very near all time highs most industrial resources at "reasonable" prices you wonder if the small investors have now completely abandoned ship ?
There are many companies in the same boat as UFO.. you wonder where the investment is going to come from to prop them all up if the little guys are all broke ?
Just my musings.. but that spike and grind lower is a very common pattern (outside of the Mag 7 )
On the face of it this seems oversold.. The cash position alone is over $100M alone..
Lol.. Max your so predictable .. so even AI is now a big booster for Iron Ore.. lol.. UFO are irrelevant on the global stage.. its like talking about your local builder in relation to the HS2 project.
And what difference does it make that I might or might not be a large shareholder.. ? i am VERY annoyed at how the company has been run in th epast 2 years.. its a mess and I frankly think that it might even go out of business if this trend carries on for much longer..
As stated.. the interview was good and the report was good .. but we are a long way from mining Hanc0ck.. I see nothing that changes my mind..
Its now the end of Feb.. we have no IOCA management.. you cannot spin that one Max ? i guess you will try
Everyone is out buying AI technology.. let be honest when you look at the number Nvidia are producing.. why bother wasting time on cr*p like UFO that always break their promises / timescales and continually hire poor staff that never get the job done..
You can buy a billion dollar company and multi bag in that space!! UFO is going nowhere but down until something comes out of the ground.. even then I doubt it can get much above 0.5p.. seriously doubt it can do 1p anymore.. for me thats a decent profit.. but for a lot of people here its been years and a lot of money wasted..
While I do agree with the general sentiment that larger companies go scouting for resources in better juristictions.. one issue I have is that any purchase would likely be for a fractions of the value of the resource..
Hanc0ck in its current state is virtually worthless to a major.. thus any offer to purchase it would be minor in proportion to UFO mining it themselves.. its always been the case that this is the path forward for IOCA..
We just need a managment team that can get the job done.. but alas we are still waiting on this nearly 7 weeks now..
@Jebgooner its quite simple.. . if a group got together they could coordinate a "long attack" on a share also.. they could buy and move the price higher at a significant rate especially on low liquidity shares.. happens on AIM all the time
this would of course attract more buy action on the stock in the same way that shorters attract sell action.. i.e. others follow.. whilst the original attackers exit with profits (in either direction)
the difference is the same.. to get out of a long you sell to get out of the short you buy it..
Its the same thing.. its just most people dont like the idea of shorting as its viewed as "negative" but lets be honest most companies that get shorted actaully deserve it.. and good companies survive and go higher..
its also much higher risk to short stocks as the theoretical maximum profit is 100% the loss could be infinity.. so i dont think it goes on as much as people think frankly..
Imo a JV is nearly always a total give away.. personally i would like to see UFO borrow the money and mine it themselves.. the sums are very small and if you really believe the returns are solid.. we could pay the debt back comfortably in 6 - 12 months.. its risky.. but if Hanc0ck is that good we could find a willing lender..
I wouldnt be sad to see vivash or Brockmann or even EH go to JV.. or all of them.. for me Hanc0ck is the only project thats worth fighting to keep at this point as the rest are either flooded or land locked..
@DRB .. please read my comments more carefully.. physically we are not mining.. thus nothing on the site has changed from when we got involved... of course we are closer in "administrative terms"
@Max .. i still have all my holdings.. i wont be kicking myself as its clear to me that if Hanc0ck should work then we will experience a re-rate on the stock.. and I will make a great deal of money as I bought in at some very favourable prices especially in 2020.
This board has always been interesting.. but i do think people are not seeing the wood for the tree's which is an interesting lesson for everyone.. UFO have over promised and under delivered for years now..
we all have a friend or relative like this.. "yeah dont worry ill get it done by xxx" and you know full well its not going to happen..
We all know mining is hard.. its a long and diffcult process.. but Hanc0ck "should be" a breeze as everyone keeps saying.. then why are we 2 years late ? its simples (max) .. the company / management are completely incompetent..
THis project is a speck in terms of mining.. i am currently working on a project myself that dwarfs Hanc0ck by 20x in terms of capital and i can tell you its not 2 years late !! its pathetic..
We are no closer to mining than we were 4 years ago. Yes we have a lot more information. We have agreements etc. but physically the site is still untouched.
Clearly we need to get all the permits etc. but this situation could go on for another 2/3 years easily given the performance of our management. They just keep changing the dates and sacking ceos.
I’m really hopeful that this time it’s different. But I’m no longer blinded by the words. I do think Hanc0ck could be a game changer. But I’m sceptical that it will happen by q1 25 as ufo have said.
Anyway. None of this discussion is factual. It’s all conjecture. So I’ll disappear for a while and let max bombard everyone with ufo propaganda. 😂.
In my view he must be a paid poster. I’ve always been on the fence with that. But his complete belief in UFO is delusional or it’s his job to post endless bullish comments.
@max. I’ll carry on posting truth as I see it . You go on believing that ufo are going to actually do what they say even after constantly failing or moving goal posts for years
Inexperienced. What a laugh. 😆
@max. Seriously!!! Please don’t keep trying to insult me. you’re really saying that you trust this construction July / august date after every date UFO have published for the past 3-5 years has been missed. I think it’s you that is inexperienced here.
UFO have failed to deliver anything on time. Even the DFS was 4 months late and wasn’t even a DFS ??
I reserve the right to be continuously negative until UFO actual deliver something on time and what they say they are going to deliver.
I repeat on the face of it UFO RNS was fairly positive and interview was good. But let’s face it only profitable mining will arrest the destruction of value here. Your optimism is meaningless as you only need look at the price action for 2 years to know the truth about missing deadlines and misleading the markets.
@Smiller. I’m not saying 2027. I’m only saying that by their own timescales the company will be 2 years behind even if they hit 2025. Remember the infamous “shovel ready” quote from BBG.
All I’m pointing out here is that we have completely missed all deadlines. I no longer trust anything UFO publish. Sadly my time is running short as I will be holding for 5 years this autumn.
I do hope that UFO gets it going, but it’s only hope now as nothing I have predicted has ever played out here.
@max. I’m really not sure why you always resort to some kind of pigeon holing of people on here. LTH traders. Are we there yet people. ??
It’s obvious that NTA and many other permissions and agreements will need to be in place before we mine. My argument is that UFO will be 2 years behind their own schedule.
You cannot spin this any other way.
@cj. You could well be correct but I will reserve judgment on the impact that obtaining the mining license will have on UFO. For me we need all of the below before we really begin to see some proper movement:
1. License
2. Operating funds for 2024 (placing)
3. Off-take agreements
4. Road construction started
5. Funding agreed.
@max. I was generally positive on the RNS and on the interview. But a massive amount of work remains and many years away in my view. Especially for brockmann and vivash. The fact is that the last two years have diluted away a great deal of the value UFO had, and it seems it was an opportunity missed.
We will see if they can actually get Hanc0ck off the ground. But time is running out for me here personally.
@Max. I know you are an über bull. But it’s a bit disingenuous to call people “are we there yet” and wish they would leave. Many punters here are deeply underwater and will not benefit whatsoever from the fabled 10 bagger from this price point.