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Does anyone know why this is valued so low considering the potential there is here? Does anyone know why some of the majors haven't JV'ed with or directly bought UFO? I'm not an expert so I'm looking for some opinions or directions to look in.

My main guesses at the moment are that these projects are too small fry for the big players, and that any midcaps or drillers in the region have better prospects. I am also not sure about the confidence that we have (certified) about the extent and quality of e.g. the DSO. Are there more hoops to jump through before companies come on board, such as environmental stewardship? I just don't understand what the market is seeing that I'm not.

The dilution reduces our slice of the pie, but the pie gets much bigger. We will have access to GenScript's platform, contacts, scientists and manufacturing to advance the collaboration.

Will keep sliding until there is some context for the impact of these claims on the bottom line, seems like the market is undervaluing it with a serious weighting towards the company going bankrupt. These claims will be transitory even if they are upheld, because Morses will change their method to improve adherence to duty of care, so the only (but real) risk is that they completely sink under these claims of misconduct. Even if they take a profit hit this year, there's every reason to think they will grow into the space left by Provident over the next few.

The ore bodies that have been located at EH are already worth a pretty penny and are some of the highest grades reported in years, which is understandable given the history of the "old mine left years ago". The reason it was left was that there was a lot of easy picking silver back then to the point that it was like $5 / oz and not really worth digging up unless you got almost pure silver. Additionally they were abandoning a mine with significant deposits still untapped, so you wouldn't expect them to go rooting around for more nearby, and Bill has shown clearly that the mineralised envelope goes far beyond where the mine is dug out to. No reason not to think that we are returning to a high yield zone that hasn't been properly mapped and mined given the conditions then. There are also low yields of other metals that weren't worth extracting then, but are now, in a very large area. Bill doesn't NEED to find anything more at EH to make it worth digging up what we know is there, and there's a good chance that there is more.

I must be missing something, Chris2 thinks that >4000 g/t over 8m is "average"? Maybe I'm just living on a different planet but top intercepts from silver miners for the last few weeks have been <1500 g/t and 32,000 grade x width puts UFO's find at second overall in the last 3 weeks. Due to the high concentration it will save a lot on effort, time and processing when we get into it. The additional "nugget" from the RNS that there could be a repeat of EH along the Munni Munni fault ... one of the most productive deposits in Australian history ... is quite something. Bill has been looking for the motherlode that is feeding this system from the direction of MMN, hopefully is getting closer to finding it.

@MrPrickly I addressed everything you said in the first post, we have had months of AVA6000 progress and DE, and the price has just slid. When AS mentioned that there were no plans for the LFT we took a 60% drop, and now that he has mentioned the LFT being investigated again we see a 250% rise. He didn't say anything in the poster explanation that was materially different to what we knew about AVA6000 already, we knew the trial is going well and is expanding. No point discussing with louts so that's the last I'll say about it, don't feel the need to reply.

While very happy with the price movement it seems very odd, seems to have turned around when AS put the LFT back on the table. We have known for months that AVA6000 is looking promising and expanding the cohort doesn't seem to warrant this kind of price swing. This share is materially undervalued but I can't help but feel that the rerate isn't based anything substantial.

Tempted to dabble here, from the trading update it appears that management feel like the claims situation is under control and didn't adhust guidance further. Feels like a justified reaction to the CEOs behaviour but on a stock valuation basis seems like this is significantly undervalued.

Feels like news flow has dried up a bit ... I think I'm just used to something monumental coming out every week. Hoping for one tomorrow. I thought we were expecting some exciting EH results a while ago, probably just plagued by more lab delays. Feels like the quiet before the storm, which would be a J/V or environmental permit approval, or those EH grades again. Then we'll be off to the races.

Lools like there are a lot of monkeys on this board lately, wonder when the circus will leave town.

There is no need to release positive news, the news flow here has been outstanding and UFO have been making huge progress on all fronts despite testing delays and the wet season. All holders should appreciate transparency and regular comms. As for this RNS I remember some deramper speculating during the last Hanc0ck results that other ridges weren't loaded because they weren't reported in the same batch. Last time it was C and E and this time it's F, G and H ridges. Adding confidence in the deposit for ALL investors, potential and existing, including possible JV partners with IOCA. I don't think this is some cynical pump for a raise, I think it's just good practise.

Must be because of the RNS announcing year end results, right? /s

This looks like a self-reinforcing FOMO session, speculators getting on board the hype train expecting some news before or during the results. There is nothing to substantiate the rise except expectations.

Agree with your analysis. Given UFOs position I imagine any company which wants to JV will get an absolute steal, since it's no secret that UFO need the money flowing in from a project to sustain the rest of the portfolio. I can only add that the Mexico projects reopening gives me some hope that Bill is getting more confident about laying out funds precisely because he's in advanced stages of a deal, otherwise I feel like he's spreading himself way too thin (and I think he's said similar in previous interviews). Getting the team in Mexico is going to be unnecessary expense and focus given everything we have in Australia and all the time he still has to put into organising and analysing the Munni Munni legacy drill results, plots and maps. Maybe he's getting those results on their way to labs so he has something to look at later in tbe year.

We've been stable at around this level for a month and a half, volatility is hugely reduced. I think we have seen the last of the traders for now, there have been far fewer random spikes on speculation. Every day that progresses without information on AVA6000 should increase confidence in investors, until we reach the middle of the year. Glad this isn't being reflected in the SP as there is more time for LTHs to accumulate, who are here for the cancer side, now that the LFT has been all but pronounced dead.

I agree with Bill that UFO shouldn't be mining. The skills on the team are in prediction, discovery and assessment. The main reason against mining ourselves would be the capex of diggers, transport, personnel, waste disposal and such would overcommit the company resources and brainpower, and to tasks that they don't have that much experience in. However, if we don't get a JV, which would be the preferred option, UFO could do it I think. A lot of the complicating factors usually involved aren't present when talking about surface mining and close to transport hubs. Some complicating factors are still present and further assessment is needed, but I think that it's a viable path forward and something that should be getting worked up if we don't have strong JV options by the middle of Q3. I'm not sure why every Tom, Steve and Harry in the Pilbara with a mining set up aren't falling over themselves to JV on one of the projects, but hoping that IOCA set up will allow that to develop in the near term while a program is developed for the Munni Munni area.

I don't see the SP moving until we start to see more moves towards mining, through JV or by ourselves. MCap of £35M is a steal for any one of the 3 Aussie projects, IF we are producing. We just need to get the drills and trucks out ASAP and when we do, the SP will moon.

Rhodium is only really used in gram scale in car engines, they can stomach the price hike in the car profit. Silver going up 50x would be an economic disaster for all the downstream industries using it, which is one of the reasons it is controlled.

Demand for silver is soaring due to their use in electronics as the most conductive metal (more than copper). Supply is in the sink. Silver and gold are traditional inflation hedges, and yet, silver spot price has been dropping. Rigged market, will have to see if we get a silver rally even if the indicators are all pointing to it being significantly undervalued.

Yeah the whole COVID sector is up, something's up, we just don't know what. My personal hunch is that a big short on the whole sector has finally decided to stop stomping on these stocks as they aren't going to go much lower, so started buying back. I can see no news reason why this is happening unless everyone is really keen on Djokovic missing out on grand slams. NCYT had the dump and pump a few weeks ago and stabilised, but it happened in AVCT over the last few days, very sharply. Someone robbing PIs in broad daylight I think.

AS purposely tanking the SP for IIs is as much a conspiracy theory as the idea that he will put out a surprise placing when he's said there is runway till H2 2023. He has often not told the whole truth, for various reasons including NDA / NHS protocol, but the idea that he already knows the trials aren't going well would be barefaced lying. As such, why would he raise at any point before the P1 results can be made public midyear at the earliest?

I think two things are clear. LFT has been sabotaged by the DHSC and then by AS, with the company valuation taking a huge hit from those folks exiting since the announcement that AS eloquently put out: "um, err, no" to paraphrase. Secondly that the whole sector is in a rout. The Fed are tightening and biotech are super risky, the market believes COVID testing is winding up, and war fears are dropping all indices at the same time. This has compounded into a remarkable collapse in valuation driven largely by sentiment, but yes the fundamentals of half the business proposal have been completely gutted, there's no denying it. Valuation is now riding almost exclusively on one early stage biotech clinical trial, which are known to be very safe investments in this volatile time. I am shocked, as I guess everyone else is, how fast and deep this crash has gone - I increased my holding substantially at 95 twelve days ago, and I've seen my paper loss over triple, coming close to quadruple, in that time.

@Runner, I genuinely think he did. Given the history, I don't see a big brain attempt to change over the investor base, I see someone who isn't very good at talking about things in an investor-oriented way. He is talking like a scientist, being conservative both in outlook and in the information he gives out. It is clear he isn't very interested in short term shareholder value, that the results will speak for themselves in time, and that price fluctuations have nothing to do with the inherent worth of the company. So I think IIs probably got the same message. The silver lining is that I think he is so poor at communication that we can disconnect what he says from progress in the company, meaning that we might have fast progress on getting the LFT running again and people can make their own minds up about approvals, but I think this should be relatively quick and easy. Just because he says he doesn't know regulatory steps and hints that it could take a while doesn't mean it is. While I believe that the scientific value will drive the SP over the longer term, short term weakness is obviously important for takeover bids, for distressed LTHs, and as a market signal for IIs and traders. Even people sitting on their shares for the next 3 years would rather have the SP steadily increasing along with its "true" value than wildly crashing and scaring away other potential LTHs. The transformative technology that could revolutionise cancer treatment is undergoing step change derisking and the SP is deflating, as if AS wants a pretty cheap buyout from a big pharma company.