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ART123, for someone who appears to read you are unable to gain a comprehensive understanding of what is happening. SB said that the discovery will likely accelerate timescales for the program. Which part don't you understand?

ART123, SB said in a recent interview that there is no urgency now to do more drilling. The focus for now is on further lab analysis.

If the top 10m of the deposit contains only trace ilmenite and titanite, then it makes sense that the demonstration plant will start with that, then later enhanced to process titanite also. That's why Shaun believes timescales will be shortened.

IFOXXX, demonstration processing plants evolve over time. So the initial implementation may be a very simple one focused on processing rutile and anatase from the top of the ore body, and later on developed into a full processing plant.

The next news is likely to be more lab analysis confirming the proportions and quantities of rutile and anatase, then after that the start of resource definition work. This should see the SP continuing upwards. Also, how long can big investors sit on the sidelines while every step adds to the belief that this deposit is unmatched in scale and value?

"Forward sold at a higher price"? Well, they didn't do a very good job. If they were in the know they would sell @0.19.

Think smiller, no big mining co is going to fiddle around with a small patch like that - they want scale.

5x5Croire, no UFO has not gained $4m in cash. We have got A$500,000. The good thing is UFO doesn't have to spend anything to test for lithium.

Chrisatbirdies, UFO isn't doing a JV on hanc0ck. They are looking for offtake of the high grade ore.

5x5, 130,000,000 shares is only 2% of the existing share capital. But the placing was at a premium of +25% above today's closing price.

Don't worry about them, cjmorley. The cry babies will get over it after they have run home to mommy.

Looks like a good deal to me. Get somebody else to find out if there's lithium and get a bit of cash while they are doing it. If there is commercial amounts of lithium UFO is in the money.

There probably is copper somewhere, but they haven't found any deposit. The surface samples had high grade copper and silver, and probably came from artisanal mining. The license area and magnetic response are so vast that they have to focus on small areas. The point is there could be anything there given time to explore it all.

Shatnersbassoon1, they were looking for copper/gold. But then the drill results came back full of titanium at high grades. Since they are confident there isn't an issue extracting titanium which much more valuable, they switched all resources to a production plan for high value titanium products.

Dustyslay, I only post when I think important points need to be made about companies I am invested in. Not interested in tit for tat character assassinations or small talk.

Kongolasse, the orphan period is a time after the resource value and economics are already known. For example, Greatland Gold is in an obvious orphan period and has been for some time now. With Empire the value and economics have not yet been revealed, so really we should think of mineralogical and metallurgical studies as part of the discovery phase of that cycle.

Genghis15, that may apply to conventional mines. What do you think the SP will do when all studies prove a high value TIO2 product can be produced and a JORC compliant resource of billions of tons is defined? Do you think the market cap will still be £37m?

If you read the RNS you will see that the proving of TIO2 extraction and removal of impurities will be completed and documented before a JORC compliant resource is defined. That's why they have teamed up with Curtin Uninversity and CSIRO:

o Definitive mineralogical characterisation studies of titanium mineralisation and related host alteration mineral assemblages to further aid both on-going metallurgical studies and exploration targeting of high-grade zones;

o Definitive metallurgical characterisation studies to establish ore character, beneficiation steps to separate titanium bearing minerals from gangue minerals, titanium minerals leachability and solution chemistry, and final TiO2 product assessment;

o Finalising a process flowsheet and Demonstration Plant design that will establish, confirm and provide valuation metrics for an economic process and resultant high-value saleable product;

o Definition of a maiden JORC-compliant Mineral Resource Estimate that will provide the basis for a mining option study and eventual ore reserves;

Well it might not be totally clear, but take a step back and think it through. The TIO2 covers almost all of the license area, so makes no sense that Century can retain rights to the while of Pitfield and Empire would not be scaling the whole project up and spending money if they did not have the 70%.

99icecream, there is nothing in the JV that states copper and gold only. Stop imagining things and read it again.