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Nicola Dukes has just been on VOX Markets and put an upper target for UPL at 3.44p on this run. Not sure what it is based on as all blue skies now from previous highs, but will get a few more PIs looking into the story and dipping theuir toes in. Sarawak deal, if it is the kind of deal I think it is, will send the SP much further north that that target though....

Zakaria's holding when connected to Tune's new holdings equals about 50% of the company. Plus, there are many other big sticky holders not looking for 20% profits, but the big Sarawak picture. Very few sellers about, so very difficult to buy in any real volume as the prices is squeezed up. Exciting times. Very nice after sitting patiently on this one for over a year....

A great mentioned in The Times today - huge news getting TUNE group to take 16%. I would never suggest anything dodgy is going on, but look at the huge holding by our Malay chairperson Zakaria - over 35% of the company and now another Malaysian group coming in for 16%. Join the dots - huge news from Sarawak about to drop me thinks....

What % of Harvest Minerals does McMaster own? A fair comparison as CEO of both. Nothing comes up on the HMI website, and I am sure his holdng is a fraction of the 46,177,800 shares he owns in JAN - which works out at 23.4% of the company. Why is that? Another JAN director - Azevedo - owns 45,000,000 shares also, that's 22.8% of the company. 70% of the company not in public hands. The directors are not going to shoot themselves in the foot by diluting unnecessarily - so many other options available to finance the trial mine, especially when you consider the very quick payback period. For those still unfamiliar with the story, this video provides a great summary.... https://www.youtube.com/watch?v=4itgE4f8gRA&feature=youtu.be

Of course, I forgot the Dr was on their board. Hopefully we will have news before then on Morocco, Sarawak or Tunisia.... Would be great to have UPL present an a show once we have got one of these big deals sealed and announced to the market....

How are you meeting SS? Is he presenting or are you connected in some other way??

Yes, Mike - rather alot, have met the board and am a huge fan of all the licences here. I suspect BKM will eventually join to BKZ and there are so many other plays we haven't even touched on within the KSK. Personal favourite is Baroi, can't wait to get started on that post forestry permits. No value added for Beutong yet (and price has even dropped since licence awarded), even at horribly conservative 2c per ib in the ground copper, our 40% (will eventually be 80%) of the 5b+ ilbs of copper should add about 40+m to our value. How must was already priced in for Beutong though? Market knew it was coming.... Just want Steve to start drilling there now, then market will find it hard to ignore the value. Expecting a farm out and for one of the big players to take a chunk of Beutong in return for paying a huge extra chunk of the costs. I have a big holding here, (started accumulating 18 months ago) and not really that bothered by day to day movements. It is where I see the project in 2 to 3 years that really excites me.

It's hard to say exactly, but with the 160k deposit returned from Wressle, I think it is close to 2.5m, really isn't a big monthly admin spend required here at the moment. Don't forget we have some very rich Malaysian investors who I think would most likely stump up any additional cash for the right project(s)....

Some very wise / followed investors on twitter are loading up today on UPL - if you are on twitter have a look at #UPL - feels like this is about to move and hard.....

'exposed' too strong a word, just the general realisation that it perhaps has become very over valued for what they are and that all the clever money left along time ago with ridiculous profit, leaving normal PIs holding the baby.... Time will tell - charts look horrible, I wouldn't personally touch anything crypto related at the moment....

100% agree, a huge opportunity sub 15p which I didn't think we would see again. Minimum of 100M MC by end of Q2 for me if we get the two big pieces of news we are expecting - that works out at 30p.

Agree, no credit given to Beutong at all..... World class asset and the value will be impossible to avoid when Steve starts drilling.... 30p target this year for me - markets just having a stutter due to crypto world finally being exposed and falling apart....

Wressle was a waste of time, just a few bopd in a part of the world that didn't want to be drilled... A crazily long ordeal which UPL should have bailed from months ago. Any drop today is just crazy, nobody is in UPL for Wressle upside - there are many more UK only investment vehicles for those PIs who want to chase 45 BOPD.... Onwards from here, think now this is out of the way we will hear about a Sarawak project very soon - surely that is the whole focus of the company. Wressle, and Wick to an extent, were just trying to give the company balance. Really prize is what is being discussed in Malaysian Borneo and all the contacts our board has there.....

Sadly, that is the same conclusion I have come to, companies appoint Shard and then a discounted placing more often than not. And, more annoyingly, seldom to long term / cornerstone investors, but to people looking just to cash in and sell out at the first opportunity. What is HMI's current cash position? Have been looking at taking a position, but will take a step back and see how this plays out....

If SS came out and said they were walking away and have bigger more exciting fish to fry, that would be very welcomed by the market - it is the gentle 'let's wait and see' line, after 3 rejections, that UPL holders / potential investors have no time for. Wick looks exciting. Let's focus on that, whilst we wait to launch one of the super big projects in Malaysia or Morocco. We all know SS likes his DD, but with these big projects he has been, supposedly, looking at and in talks with for a year, so we can expect news soo n you would hope if he really is an ambitous director who wants to create value for the shareholders.

LSE have the wrong figures in their fundamental section, as they had it at 40M when I typed and 43m when it closed (now).

Still just a �40M MC - that's the key figure here. When contract lands and reserve upgrade comes in this should be north of �100M...

Odd indeed, also Sasha (the PR guy for ARS) has been on radio silence / away too. Makes me think that there is more news very close and then they will do a much bigger round of PR. Any buys around 10p will, IMO, do very very well from here in the short, medium and (especially) the long term.

Agreed, just look at how much CAML paid for a copper asset recently that is producing far lower than BKM will be doing from 2019. This is looking ridiculously cheap and I think we are ready for the next leg up and to stroll past all time highs in the coming weeks. Any TO offer would have to be many multiples higher than the current MC, and I suspect that the board would still recommend saying no to such a bid.

'Never let emotions guide you' - true to an extent. But if my feelings (emotions), based on the last few weeks, are that the board are just not good enough, then I need to listen to that.... Lost too much money sticking with companies where I kept holding after my trust in the board's ability was dented or had completely eroded.