The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I think "there is a price for everything, and everything has a price" springs to mind but,,,
The board have incentives based upon selling ore
The company has been calling itself an explorer turned miner for a while
We will get funds from a short term provider and or partners.
Personally I think the ability to milk the cash cow for many years to come, taking funds to carrying on drilling / opening Liz hill while paying a divi and some good salaries sounds more attractive.
cj
re the native title i agree, the two agenda items are:
"making a native title decision (high level decision) to enter into the han**** iron ore
project mining agreement with iron ore company of australia ... and state deed (an agreement for the purposes of section 31 of the native title act) with iron ore company of australia, and the
state of western australia for the grant of mining lease m47/1633; and
(b) nominating the nyiyaparli direct benefits trust (abn 18 246 195 674) as the trust to
receive the native title financial benefits under the han**** iron ore project mining
agreement"
further
"the knac board and ioca have reached an in-principle agreement on the terms of a
project agreement.
knac is seeking consent from the nyiyaparli common law holders."
and
"the knac board recommends that the nyiyaparli common law holders pass the
proposed resolution."
my reading is that everyone in the room will be very aware of the what they are there for, especially as there were objections that had to be overcome to reach this point. due process will and should be observed but i would imagine the hard yards have been done behind the scenes so not to waste anyone's time.
pj
“……IOCA is also pleased to announce that the next step in this process has progressed to a point whereby Pilbara Ports and IOCA have substantially agreed the terms of the binding agreement for iron ore export through Utah Point. This agreement is subject to the typical regulatory approvals“
Lovely. Good work Aliens, getting closer with every RNS. It’s going to be a good run to Xmas I feel.
PJ
Chris - I think these are done and drafted:
DFS - Drafted ready to publish
Decision - the fact we are here in the process tells me that this is a forgone conclusion
Funding - Heads of terms are agreed and a draft agreement will be in place
License - Formality? On the back of no objections from the owners (as agreed)
Lots of RNS's starting this week hopefully.
PJ
HH - "Extensive to do list"?
Whilst I appreciate your balanced views against the whooping and cheering, I think this particular post might have been made after you have just spilt a glass of red on your new sofa.
At top level, there are 4-5 milestones to hit, 3 of them happen practically at the same time. "Extensive" may be at the project managers level to get the mine operational, but I don't really see it from our end of the telescope.
Yayay, yes you are correct, the owners have to agree for the license to be granted. This is the purpose of the meeting (with recommended approval from KNAC).
".....seeking consent from the nyiyaparli common law holders to enter into the
han**** iron ore project mining agreement and a ‘state deed’ (an agreement of the kind
mentioned in section 31 of the native title act) for the grant of mining lease m47/1633."
Thanks for the clarification!
nice start to the week, lets hope last weeks momentum is maintained. for those new to the board, the granting of the proposed mining license for han**** has been recommended for approval. this happens on the 29/11.
"knac board and ioca have reached an in-principle agreement on the terms of a
project agreement.
knac is seeking consent from the nyiyaparli common law holders to enter into the
han**** iron ore project mining agreement and a ‘state deed’ (an agreement of the kind
mentioned in section 31 of the native title act) for the grant of mining lease m47/1633.
the ‘state deed’ or ‘section 31 agreement’ is between the government party, grantee
party and native title party which confirms the agreement to the grant of mining tenement
(or doing of the act) and contains a condition that the native title party will not claim
compensation from the government party in respect of the grant of the mining tenement by
the government party or the exercise by the grantee of its rights and obligations under the
mining tenement. copies of state deeds now need to be provided to the nntt and added
to the register of section 31 agreements.
a summary of the proposed han**** iron ore project mining agreement terms is
included in the nyiyaparli common law holders confidential information sheets.
the knac board recommends that the nyiyaparli common law holders pass the
proposed resolution."
https://www.karlka.com.au/wp-content/uploads/2023/11/20231103-notice-common-law-holders-meeting-november-2023-final.pdf
I'd never offer advice, but equally I wouldn't call someone bonkers for his / her own perspective on investment.
FWIW, I think the entry here in the 12 month view would be reflected upon as a good one. Even by the 29th/ 30th of November with the expected and recommended approval from the owners to mine I would expect anything bought today to be very much in profit.
Just IMHO DYOR WTFDIK
PJ
Great ad - seems the building blocks are coming together...
AMA’s primary objective is to maximise shareholder returns through the exploration and development of our mineral projects whilst acting lawfully, ethically, responsibly and through:
developing our assets;
enhancing value via professional exploration;
becoming a dominant producer in a world class minerals province.
AMA- Alien Metals Australia Pty Ltd ? Is this a newco or a typo on IOCA / Alien?