Member Info for Vosgi

tpi have put out research note, based on report and market values of west coast and greentech and iron ore looks like upside is clear 3-4 x from current price. does anyone have other insights re values below

asset / interest source value (£m) p/share* % of sop

wce participations (direct equity + 30% jv interest) tpi, 13 may 2026 17.30 0.149p 32%

gre participations (direct equity + 30% jv interest) tpi, 13 may 2026 7.28 0.063p 13%

sub-total: jv participations (tpi verified) tpi. 24.58 0.211p 45%

han**** iron ore (90%-owned, risked npv10, mid-case) analyst est. ~27.3 ~0.235p ~50%

brockman + vivash iron ore (nominal optionality) analyst est. ~3.0 ~0.026p ~5%

*******total sum-of-parts valuation ******* ~£54.9m ~0.472p 100%

current market capitalisation / share price aim, 12 may 26 £16.29m 0.14p —

implied upside (base case) sop vs mkt price +£38.6m +0.33p ~+237%

Whats the expected cash position of FDR ? when was the last cap raise and price ?

they should be focusing on finding the next Haverion they are in elephant country !

expect they will be raising money soon so further dilution expected in 2026 - if so what is will be share price in next 3-6 months

What is the view on potential value of GRE - munni munni

2m oz PGM minimum (start) - inaugural JORC resource in June - weeks away (re-rate)

copper + Rhodium not factored in by Lonmin in the 1990's but its valuable today

in addition Alien has a stake indirectly in whundo copper ?

if GRE goes to 20-30c what will be the implied value to UFO ?

say $70-100m then Alien interest is allude at circa $30-40m (so more than current market cap) + silver + iron ore + cash boosted by another $0.7m - no capital raisings expected for a while stock should be moving up ?

Whats the market view of Alba rare earth assets ?

when was the last capital raise and amount should indicate funding needs/ timing

this is one of the best summaries and analysis - ufo value is clear even if you exclude iron ore assets

silver on a tear (they own over 36% of it and funded by third party wce) and over 42% of pgm-copper asset (same, funded by gre)

https://thatstocksguy.substack.com/p/alien-metals-249

alien currently trades at a market cap of roughly £18 million.

yet the implied value of alien’s interests in west coast silver and greentech metals stands at approximately £30.4 million. the han**** iron ore assets are likely worth around a$15–16 million (circa £7.6 million) if disposed of today, giving a core nav of roughly £38 million.

in a rational market—where these equity interests and project stakes could be realised at fair value — alien should trade well over 100% higher than today’s valuation.

in other words, at a share price close to 0.4p.

These numbers are just the beginning (over a couple billion $ in situ metal just at munni munni deposit)

The UFO presentation and RNS made it clear they have an effective interest of 42% of the PGM-copper-nickel project plus a 17% indirect interest in the Whundo copper mine (over 6mt resource with a target of 15-20mt)

Just like they said the deal wouldn’t happen as too many approvals required

GRE drilled first week the deal was announced even before the deal was completed in the end of Jan

MRE is coming

Question will be how big will the PGM resource be > 2m oz this will be one of the largest platinum resource on AIM plus copper content

Investors dont understand that its quite unusual for exploration to move quickly especially with all the regulation and environmental approvals required these days

Exciting news ahead

Silver assays from further drilling south of the mine

Should not underestimate new CEO joining Greentech (17% owned by UFO) ex Resource Finance Corp ($ billions under management) principal joining the team -by doing the spin off of the PGM -copper asset they have now attracted a top CEO worth big dollars $$ - the UFO strategy with JV really paying off watch munni munni now fly - at NO COST to UFO

They just got another £75k or $150k increasing the cash kitty via exercise of warrants

Brokers inform me that they will get another $300-400k in funds via in the money warrants plus the $500k they got from Greentech from the PGM deal so no placing would be expected after raising £1.8 ($3.6m) in December

Remember also they have 30m West coast shares @ 20c =$6m not a bad position to be in circa $10m in the treasury plus the Greentech shares 47m @12c available in 5 months

What's the underlying value of ALBA ?

and key assets ?

other similar companies are on AIM need to look thru the value

just needs to be properly explained

Spot on !

a) £1.8m placement

b) £0.25m payment from GRE due in a a few weeks

c) £3m value of shares today in WCE

just the cash and WCE shares = £5m vs £10m market cap (so rest of assets only worth £5m ???)

Add :

GRE stake and interest per preso > 40% in PGM-copper. £ X millions

WCE stake 30% £ 10's millions

+ iron ore assets £ X millions

TP report spot on potential to double and more on back of news worth a read

newsflow is the key and assets now actively being explored - recall what happened to Orosur mining, had a part interest, JV partners drilled and found more ore - re-rated 2p to 14p - now 23p !! Takes time to explore and do all scientific work but it happened in 24 months not bad return

you don't need 100% of project to make 10x. (GGP similar JV 70/30) I'd do JV every day reduce risk and increase upside someone else spends the money \

ASX companie are carrying us UK shareholders !

Am pretty sure TPI undertook raisins for the above companies and can see upside in UFO - others investors might want to follow !

New presentation out really interesting worth checking out and latest Turner pope report

looks pretty undervalued with booming silver and platinum price, in addition chinese demand for iron ore continue

p16 asset implied value £22m vs market cap £10-11m

There is zero value attributable to iron ore asset ! this has be worth in millions

Silver asset 36% interest. [not given away these are just silly comments]

Platinum and copper circa 42%. [significant interest in projects - if GRE goes to $100m then UFO will be worth heaps)

New investors putting in close to £2m,

These guys are now finally able to get drilling across portfolio and third parties will be spending millions in 2026 and years ahead, Alien free carried !

Potential for re-rate we have seen this show before - see May placement then drilling produced top results went up 300-400%

patient holders will get rewarded IMO

https://www.alienmetals.uk/wp-content/uploads/20251210-UFO-Corporate-Slide-Deck.pdf

Agree with other comments - UFO up a 100% in the last few months not bad if you were smart enough to get in

at 0.1p entry price can see this go to 0.2p in short term

cashed up Silver JV partner will send $6m more than most companies spent in years - alien gets the upside it has 40% interest (project + shares)

iron ore hot US $100/t - if china and US agree a deal it takes off - so hope they can get a deal and sell or JV like Silver

then the PGM asset > 2m oz this is bigger than the Silver over $3b worth of metal

If silver is now worth $70m on 100% then other assets could be worth more

Alien value of assets could be $50-100m or say (£25-50m)so double or triple - doing JV or anything that adds value to asset will boost the share price

Broker report out now

Alien Aus silver interest now worth £4.9m the market cap pre the deal

other assets significantly undervalued

price target is north of 10 x current price 1p !

First price level reached could continue to rise especially with drilling results from JV partner

In GGP JV deal they sat back while JV partner did the work and GGP announced results

Drilling news = investor interest. = Share price movement

over 0.5b shares traded so far ! this things is very liquid

https://zeuscapital.co.uk/log-in/research-portal-login/#/portal/zeus-capital/research/342d571b-b9be-4cbd-8b4c-c4e9a9f1fba3

Look through value in JV's can take time to filter through

plenty of examples back in the Khalarhi/ Extract which was an AIM Uranium company way back had an interest in one another

GGP another example had a 30% stake in gold project - what's 30% worth people say ?

30% of $2b (is what GGP got valued at plus more for the haverion project)

or alternatively 100% worth nothing

those criticising should move on and read facts

here UFO has double whammy 30% + 12% in shares = 42% effective interest

the brokers will pick up on this when they do the analyst

ERW value is $20m today !! (Got to ASX.com.au) siimply get share price x 250m shares (pro forma share capital)

Alien Silver interest value TODAY $10m but still has upside could be X times this once they drill (with other people money not UFO shareholder taking a risk)

iron ore assets, PGM assets plus one of Australians TOP M&A advisers

Not sure people reading the RNS - lack of news last year looks like we. know why ! deals take time and adviser is not on board for good time - they just closed several deals including $2b takeover

Allen now £5m

potentially £20m when deal is valued and iron ore project moves forward circa 0.25p-0.3p

Think the other guy needs to go to Spec Savers (got decimal point wrong place)

Iron ore deal assume is a done deal 2025 H1 (Sternship advisers appointed just advised Spartan/Ramulius takeover $2b! and also $400m sale of Red Hill iron ore )

Might be missing something but the Stocks guy saying at 10c the Alien stake SHARES and 30% in the SILVER project worth $10m (£5m)

Last nite ERW hit 8.2c just shy of 10c target (closed 7.7)

see below analysis by stock guy he is look at value of Silver project based on the ASX spin off co value after the $3m fund raise which will fund drilling plus cash payment to Alien. Alien gets $880k too !

What can be value of Silver PLUS value of Iron ore asset - need to review the Zeus broker report at the values there where not far off around $50m for some of the assets - P Smith Zues analyst may be right

https://thatstocksguy.substack.com/p/alien-metals?utm_source=substack&utm_medium=email#media-cc7fcc2a-d9c0-4892-826b-03fef5628e89

Stock was trading at 7-8p not long ago

good gold asset are they look at fund raise ? when was the last raise

what's changed ?

agree 100%

if they can get the jv and keep a large % looking at cash flow in short term its a few years of mine life but possibly more if there's an exploration target of 20 or 40mt next door at han**** west

story is then simple, cash flow from producing or near term production and silver/ni-pmg pinderi hills project and free carried on battery metals search by another party

should be trading at much higher levels in short time

https://ftseaim.co.uk/alien-metals

Worth noting clients of Turner Pope made 10-20 x their money when UFO was less than 0.1p and rose to above 2p!

Market cap is circa US$10-12m

UFO has announced several occasions on funding and JV

In a strong iron ore market this project can be fully funded by operators and major commodity groups like Anglos (US$15m) or Glencore and other iron ore miners and traders

You dont see too many LSE companies with such a small capex circa US$20m

If the JV comes off or funding completed with little or no dilution stock could easily double and hit 0.25p

Add this to longer term value

Cash flow say US20-30m per annum over a few years

This is X times current market c cap

Junior mining is all risk and reward those have risk appetite migh see a repeat of what happy Turner pope clients experienced

Worth hearing from happy investors from TP time to buy back at cheap prices IMO

Big interest for silver on the markets

SS1 raised $13m on ASX stock debut 200-300% premium at IPO

UFO needs to look at potential ASX listing that would blow the doors off silver and iron ore - the latter going gang busters on ASX

https://smallcaps.com.au/sun-silver-fast-tracked-ipo-asx-launch-sector-interest/