if the broker note focuses on COOs Bay Alone. The new ceo in the latest said there would be more exciting newsflow in the weeks and months ahead. So lets see where he can take this. They have have taken a lot of infrastructure with around 37 million dollars of historic spend. All for 1 million market cap. This exclude the multi tcf project with pared energy and who notion of near term liquified natural gas play.
It does look like this is the direction that Scott Kaintz wants to go into. In the recent proactive interview we also has the prospect of the mult tcf energy project with parred energy that has been going on for a while and expected an acquisition or percentage acquisition.
Brokers do have a fairly large upside to the current share price.
Field mapping and sampling identified the presence of pathfinder minerals, including anomalous values of copper and zinc which are consistent with the presence of volcanogenic massive sulphide (“VMS”) mineralisation.
This is what the new CEO has identified for a way forward. You still have to remember UFO is still only capitalised at a fraction of a fraction i.e 570k.
Have the loan notes now to take into 2019 and now it depends on shareholder interest to bring the two projects as exemplified in the rns to track this year.
I think if the new CEO can get the company off the ground with Donovan 2 and San Celso then it could be an interesting mix. The fact that Donovan 2 is located in close proximity to the world class San Nicolas Copper Zinc deposit which Teck took a 21% stake in says there there is potential here.
I think also we have to remember that this is tiny market cap company and not one sold for $100million plus so good news and forward news for that matter should be good for the share price. Noting that the current market capital is around the 600k mark.