Member Info for yayay

This is NOT a whinge, everyone. Just a bit of whimsical humour. I think we can be allowed that every now and again on a fairly quiet board. And, as someone said yesterday, a comparatively polite and constructive one.

At the beginning of last week, following the issue of the RNS, someone (I forget who) said "I think now we'll be leaving the 50s behind". Well, how very right they were! :):)

You beat me to it by seconds, Deanok. There could be a clue here:

https://www.fmgl.com.au/workingresponsibly/aboriginal-employment

In the present day and age, EeyoreWaysis, none of us really knows where anything is going. We could all follow normbeef's slow and steady path (which personally I think is the right one) and then, at the end of all that, we could be 24 hours from UFO going into production when Mr LoonyTunes who runs Russia could render us all dead.

Do we know for certain that it isn't, LoggyLogbot? Thing is now it's gained its own mythology and none of us dare test it. :):)

I agree, Max, we are getting much clearer timescales from Rod. So people shouldn't go down the wrong emotional route as they were when they were told we'd be "shovel ready" by the beginning of 2023. Which clearly we weren't. It's water under the bridge now. and Rod's pronouncements seem to be much more professionally presented.

The point I was making though, Max, is that "shovel ready" led us to believe that absolutely everything would be in place on that date. It doesn't matter that it isn't, as we all know who are prepared to wait. I was trying to mean that everything might be "shovel ready" in operational terms, but that doesn't imply an actual start of production if the permits aren't in place. They will be one day, but obviously weren't in the timescale that we were mistakenly assuming from the term "shovel ready".

Deanok, you are so right about the term "shovel ready". It's a meaningless, non-technical soundbite, which unfortunately misled us all. It comes back to what I've said a couple of times lately about old-fashioned critical path analysis. Some aspect of the operation might be "shovel ready", but it doesn't mean that everything is just yet. To use an analogy, it's easy to 'pre-sell' a supercar to the eager, but it may yet be two years before it actually turns up on your driveway.

Yes, Lth. As you'll have seen me say several times before, SGZ (HH was there too) had the gestation period of an entire herd of elephants, so UFO's progress can be measured in nano-seconds by comparison.

Wise words, as usual, HH. Although this board is at least spared the extremities of nonsense to be found on some others. We are fortunately for the most part spared the orgasmic and inane "Here we GO!" "Lift off!" and "Better run, the train is leaving the station!" which follow even remotely positive RNSs.

Not, perhaps, the most confidence-boosting phrase in a plan. And there we were, only days ago, feeling how well-conceived and set out our timescale now was. More patience, everyone.

Agree with your general analysis, wentsland. Only possible reservation is that it does rely on one cog clicking into place as soon as another one turns. My own opinion is that things might be a wee bit later, allowing for the usual slippages, say the end of Q4 before we leave the 50s. But not much difference in the scheme of things

I note a lot of 1,000,000 sales this morning. Presumably these are the traders who want to take their modest profits. Well good. Exactly whom - note the decent grammar :) - we want to get rid of. Success and rewards for we LTHs will be for us to be in the majority and not at the mercy of people who'd rather have 2% before lunchtime than 400% before 2026.

Yes, I'm with normbeef about the slower grind of sp rise. Nothing is more likely to deter potential solid LTHSs than to get a reputation as a Snakes and Ladders share.

I am also pleased to infer from the RNS that management does read these boards and take note of our concerns. They have taken the trouble to write a particularly long paragraph to address the Native Title and overall authorisation process. Even to the extent to confirm the point I made last week that I felt that matters could proceed simultaneously rather than sequentially, like critical path, when they say "The Company intends to start civil and site works immediately after Native Title is received in parallel to the grant of the mining licence".

When I mentioned that I'd tried to get some sort of clarity out of KNAC about the state of progress, one of our colleagues on here said it wasn't for "retail investors" to go bothering other parties. Well, excuse me, but No. I don't see why any other party - be it UFO's BOD, institutional investors, KNAC, AA, the WA Government or whoever - has the legitimacy to pursue their own interests, be they in alignment or in conflict with each other - it is only right and proper that they do so - but "retail investors" should sit in the corner and do as they are told and do nothing to pursue THEIR interests.

How many more times do I have to say patience, Lth-sometimes? The pheasant shooting season ended on 1st February and won't start again until 1st October :):):)

Calm down everyone. Again. As Awp says, we are waiting on KNAC. And as I said this time last week, KNAC's website states quite clearly that - for whatever internal reasons we do not know - they are temporarily not dealing with Native Title work until March. We went over this last week, we do not know whether "March" means the 1st of March or 31st March. Whatever it means, it is clear enough that no RNS about heritage clearance will be appearing in the remaining trading days of February, of which there are only eight anyway. So was might as well continue with our patience.

Miss Wemyss is somewhat affronted at the thought that some folk might think her receptive of a nibble. She fears for her reputation, lest word reach the ears of the Reverend Grimm and she be suspended from harmonium duties at the Methodist Chapel.

I wouldn't even BOTHER asking Barclays. Anyone amongst the "old timers" on here remember the grinding battle I had with them about 3/4 years ago over a rights issue? Took me 18 months (!!) to get shares credited to my account that I'd paid for (!!) and were mine "by right"!

Yes, Chrisatbirdies, thank you for reading that. It shouldn't be too much of a worry if we don't get heritage clearance for at least a month or so if we are not hoping for overall licencing before the end of Q3. I would imagine that other aspects of the application process can proceed simultaneously and not sequentially. Like they taught us in Critical Path Analysis on management courses of 50 years ago.

As Max has kindly pointed out - and I see Awp has just reminded us -,the company's own presentation indicates the granting of the mining licence projected as being by the end of Q3. That is still some 7 months off. So we really shouldn't be worrying now. If it gets into November and there is still no sign of permission, then maybe we could be justified in getting a bit concerned. It looks as though we will just have to relax and enjoy a patient summer.