Member Info for Prospector

Chrisatbirdies, don't just make stuff up. It doesn't take another 3 months after native title. Fenix Resources got the mining proposal approved by DMIRS and then the native title afterwards, all in the same month.

The shares are already registered with the London Stock Exchange. What are you talking about?

So 12Roses, do you think UFO will be a £12m mcap company when DSO is being shipped, or do you think it will be closer to £100m mcap? I think the latter must be right.

Cjmorley, obviously they haven't got around to updating the website yet.

Key agreements, approvals and permits could arrive anytime between now and the end of the year. The new presentation timelines are likely to be conservative estimates.

Metal detector, why do you care how many shares are in issue if the SP gets to 1p. The market cap will be a lot more than £75m once in Hanc0ck is in production and other assets are being progressed.

Peanuty, it's a shame you have no idea how the process works. Alien does not need the DFS to complete before agreeing the native title, getting permission to mine, sign a deal with AA. The DFS is purely about providing confidence to lenders for funding. The DFS should be completed by the end of this year, and by that time everything else should be in place for funding and decision to mine in H1 2024.

I think the Fenix Resources timeline of achievements may help as a rough guide to how Alien might progress. H1 2024 is achievable for Alien Metals.

Fenix timeline from 2029-21

Oct 2019 - Feasibility Study completed.

Apr 2020 - Mining proposal lodged.

Aug 2020 - Mining proposal approved by DMIRS.

Aug 2020 - Native title agreed.

Sep 2020 - Decision to mine.

Oct 2020 - Binding offtake agreement.

Oct 2020 - Mining contract signed.

Dec 2020 - Port access secured.

Feb 2021 - Maiden iron ore shipment.

I think the Fenix Resources timeline of achievements may help as a rough guide to how Alien might progress.

Fenix timeline from 2029-21

Oct 2019 - Feasibility Study completed.

Apr 2020 - Mining proposal lodged.

Aug 2020 - Mining proposal approved by DMIRS.

Aug 2020 - Native title agreed.

Sep 2020 - Decision to mine.

Oct 2020 - Binding offtake agreement.

Oct 2020 - Mining contract signed.

Dec 2020 - Port access secured.

Feb 2021 - Maiden iron ore shipment.

*may come back with a question

Cjmorley, yes and DMIRS come back with a question about it, but that's all par for the course.

Dip666.

"2/ why set december 2025 for han**** to be operational as a performance option for troy, seems overly generous to some or an indication that cy 2024 may not be a feasible target for some reason to achieve production?"

Alien has not set Dec 2025 for Hanc0ck to be operational. The reason performance rights are vested until the end of 2025 is to keep the chairman onboard well after the start of production. It's just a margin of safety by having the incentives in the right place.

The latest CAPEX estimate for Hanc0ck is around US$20m. Although the Fenix Iron Ridge CAPEX was A$15m, the Hanc0ck figure likely has a fair amount of contingency built in. Interestingly, Fenix was able to defer 44% of the initial CAPEX until commercial production. Fenix has additional CAPEX costs and operating costs compared to Alien Metals. The Fenix Iron Ridge resource slopes down to 230m below surface, but Alien has a clear advantage because there is sufficient resource at surface for a good chunk of the life of mine, therefore, no fixed plant is necessary for production with a strip ratio of only 1:1 compared to Fenix 2.86:1.

Another advantage Alien has is the distance to port. Fenix has to truck ore 490km to the Geraldton port, compared to Alien who have a much shorter route to Port Hedland.

Alien metals has come a long way and all the pieces are being put in place for production in 2024.

For anyone interested, here are the key milestones that Fenix Resources achieved:

Oct 2019 - Feasibility Study completed.

Apr 2020 - Mining proposal lodged.

Aug 2020 - Mining proposal approved by DMIRS.

Aug 2020 - Native title agreed.

Sep 2020 - Decision to mine.

Oct 2020 - Binding offtake agreement.

Oct 2020 - Mining contract signed.

Dec 2020 - Port access secured.

Feb 2021 - Maiden iron ore shipment.

Uktrafer6.

Yes, because the company knew that most of the small traders holding shares don't have a clue about how share options work 🤣

What raise? They have just got some extra non dilutive funding to cover various administrative fees, etc. Payment for the DFS will be due at a time when proper mine development funding is also arranged. Remember the DFS is important to provide confidence to prospective lenders.

There has been a ridiculous panic by know nothing traders who think they can make a quick profit. The lack of understanding about performance rights and stock options and incentives is astonishing. The reason Dec 2025 is the vesting end date for some performance rights is to keep the new Chairman onboard until then - Alwin Vorster does not own the shares until the vesting period is over, and it has nothing to do with expected shipping dates. Another important point is that 31-07-2027 is just to provide a reasonable period for people to benefit from exercising those options - again not correlated to development timescales.

Livestock, not in the Pilbara, Australia it doesn't. Flaura and Fauna take a couple of weeks and was probably established at the beginning of the survey.

Rad121

Yes, it means you are completely wrong. None of what you have just stated makes any sense. The native title could be signed at any moment, then a mining license issued, then after the DFS is completed funding will be arranged, all in short order. Direct Ore shipping will start H1 next year.

Munni Munni and Elizabeth Hill are NOT core assets. They require a lot of planning and investment, and Rod will be available to push them forward. It's not complicated to understand.