Member Info for PaulQ

I feel what we need from bill and team for the big push is a positive rns detailing to the market how they are going to finance the 30m capex for the project. Obviously we know but I think if they put it on paper it would turbo charge UFO

To all the shareholders posting here in the past couple of days that have held through the past 12 months. Our patience is being rewarded with the steady rise we rightly deserve bringing us back in the blue.

https://www.afr.com/companies/mining/mineral-resources-smashed-by-iron-ore-price-penalties-20211026-p59342

Luckily we have the high grade iron ore everyone wants inc mineral resources

And no large upfront cost that wouldn't be covered within the first six months as Bill rightly said

The first motherload = first sale of iron ore

They don't need a road persay they already have a track a few KM away from the main roads to the port. No issues with transportation at Han(ock.

Read a recent exurp

"The mining method would probably entail using surface mining machines such as those already used by FMG very effectively already and would require minimal screening and crushing. Should this be required, it would be done by a mobile unit right at the mine face and then, for delivery of the ore, road transport would be a suitable and highly economic method. Contract mining and ore transport would be the preferred option to further reduce CAPEX requirements for the project.

The project is only 20 km from the iron ore town of Newman so other than a small central office on site no camp would be required to be built. Contract mining and transport would be recommended as well again to negate any CAPEX to purchase equipment and support infrastructure to go with it (maintenance facilities etc.). The main CAPEX would be for putting in a suitable road between the mine face and the Great Northern Highway to the west of the tenement but once installed would need minimum maintenance. This would be in the region of half the projected CAPEX and based on current mine planning and current iron ore prices would be paid back in less than 6 months into the mining cycle."

No concerns here, blue skies ahead

I have replied to your earlier comment. Maybe you have no seen it?

The roads and infrastructure is already there and in place and a simple in and out job with trucks

The financing is not required as we can sell the first shipment upfront at a discount.

End of story, Alien win

We talked about this last week. We would follow the same route as fenix and sell the first mother load upfront at a discount. So... no funding required

Just a hint they will take over 4 million shares in one go at 1p flat... could go up further by end of play

Been awhile but ill go for 1.01p

Jealous that I'm already fully loaded on this and people can still buy below my average!! :,)

Be glad to see the back of you then chris2, shows what a low life rat you really are. Good riddens and don't come back.

I think 1p had just been paid... still over 15pc below my average here! So still a v good deal imo at this level anything below 1.25p directors buy looks good

Actually alien metals website did

Highlights:

"Elizabeth Hill’s initial 1999 JORC Compliant Resource of 4.05 million ounce (“Moz”) silver at greater than 200 g/t silver: 46,800 tonnes grading 2,700 g/t silver (1.15 oz/t gold equivalent) (Ian Cowden, Iana Pty Ltd, Resource Estimate, Elizabeth Hill Silver Mine, November 1999)
1,170,000 ounces of silver mined between 1998 and 2000 at an average grade of 2,195 g/t silver (70.24 oz/t silver)"

I agree BB , the 3p mark will be a little uneasy for LTHs however a great thing is foresight which we have a lot of. We held to 3p and back because we believed in the fundamentals and they have only gotten stronger.

We need to assess what a worthy market cap is for UFO with the news as it currently stands. I estimate about a 250m market cap as a minimum once we start producing and firming up more resources. So that is around the 6p mark. To be at 3p before then is relevant and fair.

Remember the MMs and big fish don't want to make us rich over night. We have all been patient and people have lost money here who haven't been as patient as us. We will reap the rewards as ufo is only going to grow and we are on the fastest track possible to growth with the iron.

By the time we come to sell i estimate iron ore sitting at above 150 a tonne. Dso fetched a premium aswell remember

Thank you Tymers.

never thought I'd say that :)

This rise is flushing out the traders... sell and be locked out now, the incoming news flow here is gonna be ridiculously heavy in the coming months. Aliens stretching those legs into the penny's again and this time for good

@max111 talking about doom and gloomers.. it is FRIDAY!

What time do you think Tymers, Chris2 , dragline, or myavian will be out to play tonight?

I'm still underwater here by 25pc but feel like I have an oxygen tank and am floating to the surface very nicely with each RNS , right people , right place springs to mind. BILL THE EXECUTIONER

Personally I think those ridges will add an extra 30MT and thats me being super sceptical

And more conservative than Maggie

Bill said " Lloyd is a great member" then back tracked and then talks about his contacts. Lloyd looks to be a member of the brotherhood and is a master Mason who has the right contacts to get the job done. This is why he has been brought on board. All imo