Slowly losing faith in this one, can’t lower my AVG any more. It’s just take take take
There is hope
Looks like the silver rally is helping pump UFO…
Up 28% so far this morning - can’t see this being sustained though (famous last words)
Yes, some nice movement today.
There was also a tweet made from a chartist, might have added to the momentum, calling for upwards movement to 7p . (I’ll find the link)
This movement completely passed me buy. Thanks for flagging. Just checked my holding the app, up 30% now
I’d take those chart predictions with a pinch of salt tbh. They were also pushing for GGP to hit 80p by March or something crazy.
Whilst I think ufo have great assets, this IMO is being driven by the supposed “silver squeeze” and nothing more.
You mean to say its not? What! Sell sell sell…
This squeeze maybe driven by increase In silver, yes, but I feel there is a lot more in the pipeline for UFO…
CEO purchase of 5 mil shares at 1.25 today
It was a non-exec director that bought the shares but still a promising sign given the volatility in this share.
Expecting good things from UFO this year!
Apologies, you’re correct. Rushed to post without checking what I typed
Does anyone have any news in these guys??
They tweeted the other day that they’ve almost completed drilling on one of their sites at Hammersley (iron ore deposit).
Market clearly expected these results sooner as it took a bit of a hit!
I’ll be looking to buy a chunk to trade as we build to results for these - should get them before the end of April
should i buy
Wish I knew mate, but I did today.
What are peoples thought on ufo? Are they going to come good in the short term?
To be honest I would be happy if they come good in any term. Been in the red for awhile on this.
I’m holding a few 100k of shares mainly for their iron ore project in the Pilbara (Aus).
They’ve got DSO grades (Direct shipping ore - dig it out and ship it without any refining needed as approx 50-60% iron ore content).
An MRE is expected later this year for part of the lease they have (and arguably the smaller bit).
If they can continue forming this up and have a few mil of ore there they could do very well.
Risks include management not being capable of securing a good deal for shipping and selling the ore as well as an iron ore price tumbling from ATHs earlier this year. Still would be profitable at a price of $130 per tonne (AISC should be sub $90), but obviously the valuation will be extremely sensitive to the market price given leverage.