Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Don't be ridiculous livestock. Why don't you read the details of the agreement before spouting such rubbish?
smiller, I believe Hanc0ck and Brockman are still the priority. Bill is just lining up assets for the future. It would be no good trying to acquire them after PGM and silver prices rocket.
The strategy here is clear: Monetise iron ore deposits in the near term and unlock untold riches from the Munni Munni area, with Mexico as a bonus play. You either like it or you don't. Meanwhile, others pile into Wishbone on the distant hope that something is there. As we have seen over the last couple of years, commercial discoveries in WA are few and far between. In contrast, UFO has multiple defined deposits, some of which have a good chance of being mined.
We will be getting Rhodium at Munni Munni. 90% of all Rhodium demand is for EVs. Also note, we are acquiring it while the price is low due to supply constraints in the EV market.
It's fairly obvious that Bill had been looking at this acquisition for some time, and probably partly explains the recent placing. At some point we will own the whole lot and be prepared to spend money on exploring Munni Munni properly.
Rocket, we won't need another placing for some time. There are plenty of funds now to progress all projects until mid - late 2022 (over £6 million in the bank). By that time there should be good progress on Elizabeth Hill and the surrounding area, which has many new high priority targets (silver, platinum, nickel, copper). Hopefully a new discovery emerges surrounding EH, San Celso, or from Donovan 2. A lot of possibilities really.
I wish Bill would prepare for these interviews. After all, he knows what questions are being asked. He knows what he's doing, but why not explain the funding allocation the Mexico permitting situation properly.
smiller, Bill has stated on a number of occasions that he wanted to diversify the risk. I agree with this approach. I can't see the logic of ignoring the considerable upside potential of the silver and PGE assets. When the permits for Mexico arrive we can explore from now and into next year, unlike WA which will likely get too hot early next year. What happens if we find the source of the copper at Donovan 2 and we need a drill campaign? In addition we need the ability to expand existing prospects with additional tenements for the company to grow. It is also important to consider the world economic backdrop that could affect the ability for small companies to raise cash, not to mention covid. I think Bill has de-risked considerably and guaranteed our ability to expand and move forward.
myavian, it's not group think. I know you find it difficult to believe that others may have a more positive outlook. This would explain why you feel sidelined, as your post always have a negative or pessimistic tone.
Makes no difference rugs. Many junior explorers have billions of shares issued. It's no different than say GGP before the Havieron discovery. The difference here is that we know we've got iron ore and silver - it just needs quantifying.
So the mcap will only be 39 million at an SP of 1p. Currently under 35 million.
Parkboy, we already had close to 3 mil in the bank, so another 3.5 mil gives us over 6 mil. Its more than enough to accelerate Hank0ck, EH, and be ready for Mexico.
Of course, none of us knows whether Bill has his eye on another strategic acquisition.
Another positive is that the placing might have triggered the ejector seats on all those short term traders :)
picax, it knocks trader confidence. But not investor confidence. The only people who can't see the placing as positive are those who expect to cash in before Christmas.
Current mcap is 34 million. What a bargain. Soon be 60 million.
Did you see those finer grained cores at the bottom of the hole? Many veins and peppered with chalcopyrite throughout. Looks promising.
Drill hole 5 could be a game changer, especially if they hit the top of a higher grade ore body.
David price has said they would drill as long as possible before the wet season - he thought possibly until mid December. Drill cores are being sent to the lab after cutting logging as each hole is processed, so not waiting for the drill campaign to be completed before sending to the lab.
Still only 40m mcap.
Potential catalysts in Q4:
1. Elizabeth Hill drill results and next drill program.
2. New drill program for Hanc0ck iron ore.
3. Exploration permits for Brockman license.
4. Permits for Mexico silver.
5. Donovan 2 copper findings.
Maybe these coming events explain the rising share price.