Member Info for Prospector

hornygoatweed, you are not doing the analysis at Rockfire, thank god. DP is not making drilling decisions based on short term price movements, or on what you would like. You have no idea what you are going on about.

Many of the messages being posted here are simply moronic. We only have results for the first hole. No responsible junior explorer is going to just keep blindly drilling before they have a good sample of lab results to work with. A couple of the drill cores are still being analysed and logged, so it won't be until at least February before David can plan the next stage. It makes sense to do something over at Plateau instead of just twiddling their thumbs while waiting. The utter stupidity of some on here is mind numbing. How do they work out how to feed themselves?

wentsland, stop trying to gaslight people. The reason the markets are down is partly because of renewed COVID fears. The market will get over it.

Probably a good time to buy at this cheap price and before significant news arrives.
https://www.mining.com/dalian-iron-ore-price-hits-3-week-peak-on-demand-optimism/

Quite possible, Dip666.

livestock, that's why I said read the agreement. If Artemis wants to divest it's 70% interest, then most of the price will be in shares. That doesn't mean a placing. The payment for 70% would likely be around £300,000 and 300 million shares, and possibly less. UFO has over £6 million in the bank. Also, the SP will be much higher when that happens. Why do I have to explain this to you?

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 :)