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I've been emailing back and forth to them for a while. I think once I caught them out that when BBG inadvertently blurted that he had seen the first assays from the DSO (without issuing the required RNS by law)- they have generally always responded to my queries. The response seem to come from Mark Cuthbert via the secretary, Jane.
They have acquiesced to all my requests in last couple of months- I have the full share register (which you can legally request) which I havent had the time to go through, they also replied to me last week to explicitly say that there was no link between BBG and Artemis which some of us had wondered at the time the deal sneakingly announced just before the Xmas break. If you know anything about Perth (very closeknit due to its isolation)- whether you believe that 2 Perth AIM geologist-CEOs living in London had no personal or professional involvement up till that deal...I will leave it you to figure out.
When I asked if they were going to give social media updates of the work in Mexico- they said they would- and very next day it was on twitter.
The one question which I have asked several times and they always, without fail, avoid answering- is if anyone in UFO has seen the remaining EH assays. They wont confirm, deny, or say anything about it. Its pretty clear in the last couple of interviews too, the interviewer has not asked them about it- which is more than a tad suspicious. As I said a few weeks ago- if you look at other companies- small and big- operating in the same area- none of them have had such long turnarounds.
My bets are still on ongoing discussions with a 3rd party who would benefit form the SP being where it is at. Would ne naive to believe that such an initial 'bonanza' grade would not go unnoticed.
I did add the caveat that AIM is unpredictable and irrational so I never make the bold type of predictions Max makes (which are inevitably wrong). I mean, it was totally irrational our mcap when we were at 3p for example. Or when Premier African Minerals 10 bagged a few months back.
A lot will depend on the pump and dump crew who operate multiple profiles across various sites. As ugly as it seems...it works and i will be glad to see them here. TKIA and whatever other profiles im sure he runs.
Regarding the EHs results- just to repeat, last year BBG blurted out in an interview that he had seen the initial Phase 1 drill assays for Han****- no RNS was made- until I reminded them a couple of weeks after that it was illegal to withold such information- and it was subsequently hurriedly released within a day or two .
The way we just happen to get these latest RNS when the SP was going in the wrong direction, surely you dont believe that these assays just happened to come in yesterday hot off the press? They drip feed them as needs.
If my friend's friend in Perth who has his own lab company says that an assay of that size shouldnt take so long, then I believe him..
I actually kind of hope the SP will fall further as it force their hand
Oh, back to the OP- i dont think it will add anything to the JORC
As BBG already said, they werent able to do as much as they wanted- it was a very limited diamond drilling campaign. Maybe not even enough to elevate the JOCR from 'inferred' to 'indicated' status.
What it will do is provide extra target sites for future drilling which will increase the JORC.
Bill said hopefully April we re-start. Time to get moving.
Momentum is what we are lacking and the price dips in between.
Im hoping that the stars align and we get a run of several good RNS over a month or so.
1) That doesnt really make sense- it was a quick short drilling campaign- not 2 months. I think they will *have* to release the results soon especially when the SP falls again once this mini-rally inevitably quickly runs out of steam. Dont be surprised if we get information about a JV/3rd party deal shortly after or at the same time. As if a deal had just been hashed out overnight.
2) Thanks norm- i will look up that company. There is no company or drill assays I can find (random searches in WA) that are having the turnover of EHs
3) Surfandturf...looool
Doesnt take a genius to figure out that they have the EH results.
Smiller you are on the money
I knew Bill would drop some news to counter the fall in SP following Mexico drilling
I thought it would be the EH assays- but it was this instead
Also implies that RNS are *NOT* made as the news come in, because so many companies on AIM seem to just happen to have these type of RNS ready when the SP unexpectedly goes down. And we have seen the same pattern before with UFO. Like when BBG bought some shares after the SP went down following the Munni Munni acquisition.
Im sure they are already talking to a 3rd party about reopening it. Likely at an advanced stage.
Im trying to dig around from Perth contacts via a friend who is there now, lets be honest- the sector is a leaky ship.
Guys, forget about these fluctuations- our SP will be determined by progress
@Max
Wait till the Capstone JV deal gets signed...then the price will rocket
Wait till the drilling begins at Han****...then the price will rocket
Wait till we get the DSA JORC....then the price will rocket
Wait till the assays come from Donovan...then the price will rocket
Wait till we get the Mexico License....then the price will rocket
Anything else I missed out?
I dont think you are in ANY position to call people out
Would also be interested to see what links BBG has with the Artemis CEO, both being London-based Perth geologists. I just think Artemis came in at a rather convenient time....
Like others, I really hope we get a JV deal news soon on EH or the DSO or we will be having a very big SP-destroying placing in autumn.
Someone already mentioned- perhaps something is in the pipeline which is why they have been able to progress with Mexico. In the confidence they have some money coming their way in Oz.
Some of us here have been correct in saying that there will be no return to the highs of SP without a JV news, meanwhile others (they know who they are) have been predicting that the SP will be going to the moon on...DSO JORC announcement, Mexico license approval, etc.
Im pulling numbers out my ass here- but maybe a JV for EHs takes us back to 1.5 for example, and DSO will take us further to 2. I dont see us reaching 3 for a while. Maybe if the starts align and we get some good results in Mexico and a JV there as well. Then no doubt BBG will drop a placing on us.
AIM is volatile and irrational so its hard to really predict. Remember Premier African Minerals 10 bagged on annoucement of a lucrative lithium license- and of course the SP started to explode 2 or 3 days before the RNS.
This is really a dirty rotten business we are in.
Im super busy this week but i had a quick google while waiting for my dinner companions this evening.
I found in one instance- Intertek had a 4 week turnaround (start of Feb to start of March) for a lithium project for an Australian junior (MTL was the symbol i think) also in Western Australia.
Just google something like 'intertek labs assays western australia'
Ive had a look at other WA companies using other labs too- 8 weeks, 10 weeks top...as my friends friend who actually owns a small testing company said- 12 weeks is the upper limit. There is no reason that we should be at...what is it...16 weeks? Its not the biggest sample size in the world. The fact they have not even addressed it should tell us there is something not quite right here.
I'll see what more I can find and would be interesting to see what else anyone else can find and post here for comparison.
I've had a look at what other assays the same company are doing. Its hard to make a direct comparison but I found in one instance they had a 4 week turnaround for a lithium project in Western Australia (samples sent start of Feb, results start of March)
Its been said before- but I think next few months will be when we see some significant price transformation.
Its all about a JV deal for any of our concessions. Nothing else will hold us above 1.
5) Some members have mentioned a placing- it will come for sure- you cant do this amount of drilling for free. I suspect it will Autumn time. Dont forget that the next phase of drilling at Han**** is going to be a big one according to BBG- and will involve a lot of expensive diamond drilling that we couldnt complete due to the weather. Plus Brockman will likely start soon as well. Cyclone season has finished in WA so we should see drilling re-begin this month. I believe the market is not enthusiastic about Mexico because it will be consuming in terms of money and time. What the market wants to see is EH assays and an advance on the DSO.
Its a lot of projects for a small company to prove up. As I said, its not just the cost- its the time it takes to analyse and plan and hold countless meetings with interested parties- most which wont come into fruition.
I am sure they know this and will want JVs as early for possible- especially for Mexico and EHs. The DSO they will want to prove up some more to get a better deal for a JV.
Time they come clean and tell us those EH assays. I find it hard to believe that they dont have them.
Ive not communicated with BBG directly but everything has been coming through Jane (who I think is the company sec) and Mark Cuthbert. Wont go through everything but here are my thoughts so for the last few months
1) Good to see Mexico is underway. Ive spoken to more people in Mexico now and im even more sure that the real reason that there was a delay in the license is they werent pushing for it till they could prove up. Its not just a case of money- it takes a lot of time and money to analyse and plan these drills and BBG is basically doing the job of two people as CTO and CEO. It was never going to be feasible for a company the size of UFO to go full out on all those projects at one time.
2) I think Donovan will be a dud, I dont see what BBG knows that Capstone doesnt- if he finds something- then thats great as we can package it off with the silver in one deal. I think the silver will offer good results. We need an early JV for this one- similar to the deal we had with Capstone. I dont want to spend money on 3 or 4 rounds of drilling to get a maiden resource when our money and time should be focused on DSO and EHs. Hopefully any deal will involve some upfront cash that we can use in Oz.
3) I mentioned before that I have a good friend in London who is from Perth, well he has moved back home for the next few months to sort out his Dad's will. Perth being Perth, half of his friends work in some way or another for mining firms so hopefully get some good info. In fact, one of his friends owns his own lab company in Perth.
He confirmed that there are crazy delays in results which should hopefully be improved with the opening of Western Australia. He did say 4 months is higher than the normal upper range, especially for a small sample size like EHs. Also said it is odd that only part of results would be released and the rest delayed by such a long time.
He confirmed what many of us suspect already about companies sitting on results for various reasons. The lab companies dont flag it because they would lose business. So we need to throw away any notion that companies receive the results and in good faith go running to make a RNS the next day. If you recall, BBG blurted out that he had seen the first DSO assays when there had been no RNS on it- when I emailed the company reminding them that it was illegal to hold onto such information- an RNS was hurriedly rushed out the following day.
I personally think they are in high level discussion with a 3rd party. Assay results like we had, dont go unnoticed.
4) It seems the CEO of Artemis is a London based Perth geologist as well. I find it hard to believe that him and BBG dont know each other from before. Perth is a very small place in that sense. Without making specific accusations- i do remember some people complaining that Artemis were getting too much when the SP tanked on the purchase of Munni Munni.
Capstone is an established mid-tier company with a proven record.
If BBG manages to find something they and their more expert team didnt, then hats off to him
My feeling is that Donovan will be a dud but the silver will be decent. I think while they are testing the silver- it wouldnt cost them much extra to test Donovan which is why they are doing it in the most "cost effective" manner to quote BBG
In both cases- there needs to be a quick JV- way too much is needed to prove up the resources when we should be focusing on Oz. We need another Capstone-type deal for Mexico. Hopefully we only need to do one round of drilling to be able to achieve that, 2 or 3.
Turnover in Mexican labs is better than Oz as well. So maybe we start getting initial assays back in June.
The market clearly didnt like it.
Just like they didnt the Munni Munni acquisition.
I think the price drop will "force" them to give some good news very soon
how can you read my 'rambles' if you have ignored me?
Asking others to do what you wont do yourself. Nice!
I know he denies it but I still think Kwadjoku is that guy from twitter who lost a tonne of money on Colin Birds previous companies. The name was Bartoz or something on twitter. I looked back and he seems to have dissappeared.