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How much of that 2 million is going to fund their salaries and this so called advisory board?
Its looking like a Colin Bird business now.
It makes me very suspicious about Max, has anyone actually met him in person?
Seems odd that someone is ALWAYS bullish about UFO despite the reality being very different. This is the person who has said it will be sunny every day for the last month, but every day...it rains.
I think you know where I am going with this...you never know who is behind these accounts. Think about it.
Thanks to everyone who emailed me. Been very busy but will get back to you all in due time.
Ive met up with my friend from Perth in London for dinner today and we did a video call to a mining contact of his back home that I asked to do some digging. I have had a bottle of wine but this is what Ive gathered.
1) UFO has a terrible reputation now in the Perth mining scene, noone wants to take the job because they think it is dead duck which road the wave of the COVID metals bull but has not further legs. Opinion is, it would be prime picking for a bigger company but we wouldnt get much for it in the current state. The company may be delaying pushing the mining license because then it would expose them that they are incapable of mining ( and also that Anglo may not actually be their partner)
2) which leads me to next point, he is sceptical about their supposed tie-up with Anglo, its probably a lot less concrete than they have made it out to seem and says a company as big as Anglo would have pushed and bridged the funding gap if they were seriously interested. I agree with this.
3) confirmed what I said that its all incenstuous in Perth mining- they all know each other and give each other nice board jobs and other contracts. I see that UFO is now creating some advisory board? Has anyone checked to see what links they have with past and previous board members?
4) on that note, I have further information regarding claims made by the BOD that BBG did not know the CEO of Artemis before he made the Munni Munni PGM purchase which destroyed the SP. I dont want to say more but have passed the info onto AIM regulation (for what its worth- they seem useless)
5) He is scratching his head how those silver results at EH have not been progressed, makes me wonder as well. Supposedly world beating.
Regarding Rods and others 'incentive' shares- I've done some research on this- its perfectly legal unfortunately. However, the BOD *could* have challenged and taken those share options back. A lot depends on the reasons why Rod left, if he was fired- that would be stronger grounds to take the options back. He finds it incredible that it wasnt written into those contracts that it is dependent on them working in their roles in UFO for X amount of time, which would be the norm. Seems it was very deliberately loose so they could grab and dash. Meanwhile I hear that Rod is still in touch with some PIs on here which I find vey odd.
Again, I think its important that everyone starts preparing themsleves mentally that it is very probable that we have been played by the UFO board and we wont see any of our money again. I cant believe shameless people like Max can still be ramping on here when the SP is 1/10th of what it was 2-3 years ago.
I had a look at the UFO twitter account just now and its laughable- they have stopped giving real updates and now look like some youtube ramper spamming metal news. Its so unprofessional.
It makes me wonder just how solid that deal was with AA
It was probably a very 'casual' memorandum that the BOD talked up to make it seem it was all but a done deal.
So its the same old same old with UFO. Warned many times but the rampers were so sure of themselves. UFO is looking like the biggest AIM junior minor catfish of the last few years.
From my research, they have a garnered a bad reputation now in the Perth mining scene which is probably why noone wants the job. Any prospective candidate would be shown the plans for the iron ore. Believe me, if it WAS so credible and the company was in a healthy financial situation, people would be queuing up for the job. Again, think about it, all the people who have left UFO in the last couple of years- do YOU really know more about them about how credible a company they are? Are they all stupid or just don’t see the diamond that is right under their nose? Why did BBG put so little of his own money into UFO?
We went from Mexico, Greenland, EH silver, Iron, PGM….to barely
Also makes you wonder- if the EH silver assays were genuinely so great, why has noone snapped it up for development? We were supposed to have started drilling there over 1 year ago.
Its just been failure after failure.
Now they have indebted the company with a bridging loan to keep the cogs running (ie pay their salaries and expenses).
I always said I was never convinced that they were pushing the licenses- it was just an easy excuse to make to cover up the sinking ship.
A while back ago, I said it was rather odd that BBG claimed he didn’t know the CEO of Artemis Resources (who we bought their PGM resource from and which subsequently crashed the SP). I have it writing from the BOD that he did not know him, not even socially. I have now come across some information on that, and some other things- which I will be forwarding to the AIM regulator.
If anyone has noticed similar redflags or anything they feel may have breached LSE/AIM rules- you can email me in private on alieninvestors2022@gmail.com
I am now coming to the reality that I will likely lose all my money in UFO, but I want to make sure that those who were involved in this- have mud on them that will stick to them, so they cant do the same elsewhere.
i posted the following some months back:
when we are at 1, you wouldnt have believed me if i told you the sp would reach 0.5, when we were at 0.5, you wouldnt believe me if i told you the sp would reach 0.2.
so believe me when i say this could go much lower- as much as 0.05 or so.
so where did it go wrong for investors
1) from the start- ufo oversold itself. mexico ended up an expensive dud. then rather than take fault- they tried to blame the local drilling contractor for ‘poor quality drilling cores’. we had these supposedly world beating assays in eh- and havent heard of anything significant since (which is strange if those assay results are indeed true). han**** was never, in a million years- going to be executed in the initial timeframe- and anyone who believed it- quite frankly, was naive.
2) the bod merry go round. with rod and others awarding themselves huge performance share options. like flies around s***.
some people on here seem to think they know more than the bod- you really think if ufo had the potential they were claiming- that the whole bod would be changed? they knew where it was going. meanwhile bbg never exposed himself by buying much in the way of shares- so didn’t really lose out. if ufo was as lucrative as they were making out- he would have put his money where his mouth is...yet he never did. remember, bbg was also caught out talking about results when no rns had been released. that is the type of company ufo is. aim is a poorly regulared wild west- if this was in the main market- i suspect things would have been different
3) going back to my original point- i see the sp continuing to spiral downwards. recent ‘positive’ news has not ignited the sp, because of the history of failed promises and targets. i see it going as low as 0.05 as money needs to be spent on keeping the directors fed through salaries etc. the running costs of this company are not insignificant. even if they do manage to get the dso of the ground eventually (and it is not a given). the sp will be so diluted- that even if it were to 20-bag from 0.05- you would still be only at 1. which would mean many of us will be at a loss or, at best, even.
and along this- in the background, runs the shadow of an economic recession in china.
the red flags were there for a long time. even when i was warned by experienced pis that ufo was not going anywhere (when we were around 1.1)- i still stuck in. i think what happened here is a good lesson on why you should invest without emotion- there was too much emotion>> common sense which is why most of us are sitting on a loss.
Feel free to contact AIM regulator
aimregulation@lseg.com
Or contact me on alieninvestors2022@gmail.com
The very least we can do is make sure all those who were involved, from BBG to McIhree to the current lot, all suffer collateral reputational damage and arent allowed to simply move onto the next mark.
**ufo- do we know more than the old board of directors?**
when we are at 1, you wouldnt have believed me if i told you the sp would reach 0.5, when we were at 0.5, you wouldnt believe me if i told you the sp would reach 0.2.
so believe me when i say this could go much lower- as much as 0.05 or so.
so where did it go wrong for investors
1) from the start- ufo oversold itself. mexico ended up an expensive dud. then rather than take fault- they tried to blame the local drilling contractor for ‘poor quality drilling cores’. we had these supposedly world beating assays in eh- and havent heard of anything significant since (which is strange if those assay results are indeed true). han**** was never, in a million years- going to be executed in the initial timeframe- and anyone who believed it- quite frankly, was naive.
2) the bod merry go round. with rod and others awarding themselves huge performance share options. like vultures on carion
some people on here seem to think they know more than the bod- you really think if ufo had the potential they were claiming- that the whole bod would be changed? they knew where it was going. meanwhile bbg never exposed himself by buying much in the way of shares- so didn’t really lose out. if ufo was as lucrative as they were making out- he would have put his money where his mouth is...yet he never did. remember, bbg was also caught out talking about results when no rns had been released. that is the type of company ufo is. aim is a poorly regulared wild west- if this was in the main market- i suspect things would have been different
3) going back to my original point- i see the sp continuing to spiral downwards. recent ‘positive’ news has not ignited the sp, because of the history of failed promises and targets. i see it going as low as 0.05 as money needs to be spent on keeping the directors fed through salaries etc. the running costs of this company are not insignificant. even if they do manage to get the dso of the ground eventually (and it is not a given). the sp will be so diluted- that even if it were to 20-bag from 0.05- you would still be only at 1. which would mean many of us will be at a loss or, at best, even.
and along this- in the background, runs the shadow of an economic recession in china.
the red flags were there for a long time. even when i was warned by experienced pis (that ufo was not going anywhere (when we were around 1.1)- i still stuck in. i think what happened here is a good lesson on why you should invest without emotion- there was too much emotion>> common sense which is why of most of us are sitting on a loss.
I posted this pre-Troy leaving. This company has provided directors with untold riches since the days of Arian Silver.
Again, why do people here think they know MORE about the prospects of UFO than the actual directors who keep on leaving and jumping off the gravy train merry go round? What is it that people here know that the directors dont know?
This is what I posted
He is shameless. Persistently wrong.
I do eventually intend to collate and post all my communications with the BOD over the last year or two, once you see them- you can ask yourselves if you feel they are trustworthy.
when we are at 1, you wouldnt have believed me if i told you the sp would reach 0.5, when we were at 0.5, you wouldnt believe me if i told you the sp would reach 0.2.
so believe me when i say this could go much lower- as much as 0.05 or so.
so where did it go wrong for investors
1) from the start- ufo oversold itself. mexico ended up an expensive dud. then rather than take fault- they tried to blame the local drilling contractor for ‘poor quality drilling cores’. we had these supposedly world beating assays in eh- and havent heard of anything significant since (which is strange if those assay results are indeed true). han**** was never, in a million years- going to be executed in the initial timeframe- and anyone who believed it- quite frankly, was naive.
2) the bod merry go round. with rod and others awarding themselves huge performance share options. like flies around s***.
some people on here seem to think they know more than the bod- you really think if ufo had the potential they were claiming- that the whole bod would be changed? they knew where it was going. meanwhile bbg never exposed himself by buying much in the way of shares- so didn’t really lose out. if ufo was as lucrative as they were making out- he would have put his money where his mouth is...yet he never did. remember, bbg was also caught out talking about results when no rns had been released. that is the type of company ufo is. aim is a poorly regulared wild west- if this was in the main market- i suspect things would have been different
3) going back to my original point- i see the sp continuing to spiral downwards. recent ‘positive’ news has not ignited the sp, because of the history of failed promises and targets. i see it going as low as 0.05 as money needs to be spent on keeping the directors fed through salaries etc. the running costs of this company are not insignificant. even if they do manage to get the dso of the ground eventually (and it is not a given). the sp will be so diluted- that even if it were to 20-bag from 0.05- you would still be only at 1. which would mean many of us will be at a loss or, at best, even.
and along this- in the background, runs the shadow of a possible economic recession in china which will send dso into free fall.
the red flags were there for a long time. even when i was warned by experienced pis that ufo was not going anywhere (when we were around 1.1)- i still stuck in. i think what happened here is a good lesson on why you should invest without emotion- there was too much emotion>> common sense which is why most of us are sitting on a loss.
Have no idea why this message was removed before. There is nothing in it that is untrue. All very publically available information that can be fact checked in seconds.
Every other company- use external consultants and wait till you have a license before you take on expensive permanent staff
UFO- 'jump on board the gravy train', no problem, we will just take on more debt to keep our 'experts' going while we wait for a license
Once upon a time in Fairy Mine
There is a company called called Arian Silver. It never manages to do anything.
It changes its name to UFO
Its new CEO highlights the company as a unique multi-jurisdictional multi-site potential.
ALL the supposed potential in Mexico fall flat on its face. One by one. The CEO blames the drilling operators for ‘making bad samples’
Then the CEO dilutes investors holdings by buying a PGM site- the SP crashed. The CEO claims he didn’t know the CEO of the other company even though they are both Perth-origin miners living in London.
*All this time, the CEO is never actually buying a lot of shares* in the company that he keeps on touting.
The company then produces these ‘world beating silver assays’- then nothing more was really heard of it except more ‘maybe tomorrow’
Presumably because of failures in the aforementioned jurisdiction, the CEO is removed in a very staged manner.
Then the rest of the original BOD leave out the back door.
So another CEO comes in, doesn’t actually say or do much, awards himself and others huge incentivisation packages. Then shortly leaves.
Meanwhile- the company has taken on a bunch of ‘experts’ to work on a project *even though they don’t even have a license*. With each passing day, money is burned into thin air paying the salaries of these ‘experts’ . They have to finance this daily burn with a 1 million facility.
Meanwhile, the private investors get poorer and poorer.
first, id like to say, this board looks totally bored (excuse the pun) and depressing. all posts about all manner of things like the south african energy crisis which seems to have taken up the void of no-news/no-interviews/no-progress.
does anyone know what the current wage bill is in ufo?
i was looking at the share incentive scheme that they awarded themselves. a total of 170 million shares from permit approval to 1 million tonnes of ore being produced.
there were a lot more names there than i remembered. the reason this is important- the longer this drags on, the more our cash balance gets chipped away at.
also- why the need for so many people? it may have made sense to have a 'separate guy' in oz (lloyd) when we were a truly multi site company and mexico was going on. that situation is no longer pertinent. so yes i will cross-ramp kodal minerals again, was worth l a few million when we were riding high on a $100 million plus mcap. now it has surpassed us by far- £135 million and will likely be worth £200 million by end of june. their equivalent to han**** is their lithium mine. then they have gold mines which i guess are their equivalent to our other stuff....yet...they dont have as many mouths to feed in terms of salaries. i do sometimes wonder if some of the people getting salaries in ufo are friends/contacts. we never really hear of them- they are just there in the background.
so- how much is the wage bill? have i missed out anyone else?
1) lloyd edmunds- salary?
2) arran gracie- salary?
3) troy whittaker- salary?
4) bradley toms- salary?
5) rod mcillree- salary?
As one of the many people here who get in circa 1.3-1.5. I'll be happy with 2.7.
I've accepted a long time ago that im not going to get rich from UFO- the SP of 1.3-1.5 was totally overvalued and unrealistic (although if Mexico had worked out, it may have been realistic). If I can double my investment- that will be enough for me. For those who have got in at 0.5, well done if we ever reach 2.7.
Btw, I recall when I was attacked when I said that Bills timeline for the DSO was totally unrealistic- we are now round the corner form H1 2023, and have not even got permits yet.
Never ceases to amaze me how so many PIs here will just swallow whatever **** that is told to them.
That is exactly why people like Rod flourish. He would never survive under the scrutiny of the main market...but hey, this is AIM.
Will Rod be handing back the shares that he awarded himself, when he moves on?
Thats a genuine question. Has there been any talk of this?
Im surprised there is not much discussion here of the rather suspect BOD merry-go-round that is happening in UFO
I did say I didnt trust the BOD from day 1 of my first emails with them, and it seems I have been vindicated.
AIM mining is a cesspit- you get gems like Kodal where they kept their heads down and focused on their flagship project rather than get distracted (PGM and Mexico) and now paying dividends despite being valued less than as a few years back. They have had the same CEO who was awarded performance related shares at an *appropriate* time and isnt about to jump the ship.
The ship of UFO has many a red flag on it
GLA
Do you think the UFO BOD have any regard for private investors?
I trust big established companies more than I do AIM miners- just look at the BOD merry go round at UFO.
Theres a lot more that just isnt right
remember when they turned off commenting on twitter so you couldnt see what others have wrote?
remember when BBG claimed that the Mexican ministry of mines was 'frozen' and I contacted them and found out they were still working?
Wont go over my rants again but if anyone is interested have a look at my posting history- think i have been pretty bang on in my predictions here (at least more so than the rampers who claimed we would be early retired in luxury villas in Marbella by now). I remember saying they were going to get rid off BBG and his fanboys here didnt want to accept it. Thats the danger of these bbs. They attract rampers so you get an echo chamber and not the real world outside the chamber.
My job of 20 years involves me reading people, if I cant read people, I cant do my job. Ive seen interviews with Rod and within 10 seconds I had a bad feeling.