Member Info for petej247

I'm thick - you will have to explain. When did UFO do a placing to fund another company? The last two deals as far as I know were other companies sending us money / shares so that we could watch as they dug it up?

Good strategic move from a major consumer of Silver

"This news insight gives much credence to the silver supply scramble that is beginning to ensue"

https://www.zerohedge.com/news/2025-12-17/silver-samsung-prepays-mine-2-years-supply

I think the PR people misinterpreted the type of "drill" when searching for a suitable image for that post.

Nap - yes, disappointing delay but having been here years when lab results took quarters rather than weeks I am quite used to that. The results have to be QA checked due to the granular nature of the native silver in the samples potentially distorting the results. Quality triple checked reults are critical to maintain credibility, I'm happy with that. Therefore, it only going to be f-ing good, or absolutely f-ing good. The air core seems to show joined up extensions of the silver, looking for the "string of pearls", it seems like they might be onto something

Have to agree. It should now define the targets for Diamond Drilling, cores and assays at those locations widening the silver mine area. Assays due back from Phase 2 drilling soon (it notes QA checks in progress). I think we could be looking at a wider / deeper silver mine than originally thought opening from the surface.

Https://announcements.asx.com.au/asxpdf/20251218/pdf/06tgpyk0mdfv00.pdf

"We are very encouraged by the outcomes of the aircore program, which has successfully confirmed

multiple zones with strong geological indictors at several high-priority near-mine prospects at Elizabeth

Hill.

The drilling has validated key structural and lithological controls, including ultramafic–granite contacts,

alteration, and carbonate veining that are consistent with the setting of historical high-grade silver

mineralisation. We now eagerly await assay results to further refine targeting for the 2026 drill program,

with the objective of identifying a repeat of the Elizabeth Hill deposit."

han**** next

Seems like some delayed mid price and therefore not known. How did you determine sells?

Napth - LTH here, I think after years of stagnation, projects being moved forward at no cost is good for UFO. Yes we could have raised / diluted and "done it ourselves", but we didn't. We are on a different journey now.

To quote: "If my granny had wheels, she would be a bike."

ATB PJ

Hilarious - and on the other side of the coin, traders a piling in with the highest trades since 30th October, over 6 weeks ago!!!!!

Quiet day at the office.... ;-)

slimey - its a question that does get raised and equally the other way round - ie open han**** and fund eh. in fact, the company strategy web page says exactly that!

something has happened we will never know about, tons of conspiracy theories, but i think in the end another raise would have killed off the company and if i was making the decision to raise or split to a more focused / skin in the game set of management i would have probably chosen the later after 4 yeas of faffing about.

at least now we are making some progress and have split the projects off to individual accountable companies at no cost to ufo shareholders except arguably the loss of revenue if/when the mine comes to life / gets sold on.

as gary barlow said, "two sides to every story and then the truth ".

atb pj

Well, that escalated quickly. Morning all. Happy days :-)

Watch WCE go + 10% overnight on this - the Aussies see it as V positive.

Silver is 58.5,

GRE news sinking in.

Alien RNS in the morning (3 in 3 days ignoring the AGM making 4).

Positive news wave is very exciting.

UFO + 10-15% tomorrow?

With you there Ping - a simple 45 min Webinar would put a lot of animosity to bed. Yes there would be something else to discuss, but at least we will have heard the voices, not just seen the actions.

just a bit of a brain dump (limited) as what appears to be a strategy emerging.

personally i am pleased to see the elusive management actually making some decisions and taking the projects forward. in april all projects were languishing with chris maiolo appointed to gm the han**** project. this came to nothing after a period of silence, but it seems that in the background the management have been hatching plans to farm out the projects with zero cost to the company and considered exposure to the upside. in addition cash added to the bank. this must have been ticking in the background for some time - and much as we would want to we will never get to hear about commercially confidential and sensitive deals in progress

eh has bruce at the helm who seems to be very focused on delivering, at gre we need to see the management come out of the blocks when the deal completes in january, but we should remember this is a zero downside or cash for ufo on both projects . han**** next?

i know the argument goes we should have advanced the projects ourselves (ufo), and that the assets are worth more but this isn't possible. drilling to jorc and opening a mine costs a fortune, let alone finding the right people to deliver it without spending millions of ufo cash in operational and development costs - as we have seen repeats of this waste for the last few years only to find "another" hurdle.

so i'm behind the strategy, i would like ufo management to put that webinar in the diary and provide some fixed quarterly / visible project and company strategy updates, but also i want the ufo price to stabilise and increase in line with the asset values as they are proved up allowing us all to realise our investment.

i'm also looking forward to the agm where we will get to see and hear some foundations into 2026 - hopefully the start of some regular comms.

atb pj

We had an MOU for access to a bunker. Chris visited this year and had a photo taken. My guess is that it still exists, but actual access would be on a first come basis. If we fanny about then availability of resources changes

Since there is no Top Gear on telly, worth 5 mins of your time? !

https://youtu.be/b5FUNKW09OM

with you there wents, all hypothetical ponderings until an rns drops with a plan, and even then, i'd have to see some evidence of the plan being delivered. no more missed targets. what i think does work is silver will pull wce, which will have an effect on alien. bruce has got to noe deliver those lab results and aircores, and start to map out a vision that investors can buy into. non of this drilling the **** out of most of australia for an eternity. cash is finite, plans need to be made.

meanwhile, someone needs to do something about han**** and put an webinar together. ffs bruce, give her a nudge ;-)

atb pj

Finishing position for the end of last week.

Silver at ATH - 55.73 Vs previous ATH 54.25.

WCE we know did +17% overnight Thursday into Friday

UFO up +16%.

See my chart on the public TG group - it looks like a turnaround.

PJ

I'll just caveat / clarify what I wrote below. Its not a done deal, nor anything I know - just me hypothesising given the consolidation of packages / buyouts happening in mining. Makes sense to me, but would be extremely speculative without further evidence of something actually happening.

I dont want anyone investing on the basis of my musings!

ATB PJ