Alien Metals Share Discussion Threads

[havinthelasttoast] 03/9/2023 16:22

The old ufo thread went bust like UFO is about to.

Hope that helps.

Cheers

[pvb] 03/9/2023 13:39

...What happened to the original "UFO" thread. Just asking out of curiosity.

[2magpies] 02/9/2023 22:58

Here's the interview:

[havinthelasttoast] 01/9/2023 15:20

You think it’s a coincidence that they are releasing an RNS and Troy doing an interview at the same time a big holder is dumping!

These boys in my view are the worst of the worst!

[havinthelasttoast] 01/9/2023 14:50

Troy has done an interview.

Not a mention about performance payment.

Pure ramp!!

[havinthelasttoast] 01/9/2023 13:56

Market going well.

Ufo bid down to .15.

Take note Troy and rich, how you treat investors is reflected in your share price. Daft short term thinking mugs

[2magpies] 30/8/2023 22:25

We have chosen the estate agent we shall sell our house through .........

We shall agree a contract with them to this effect, subject to us actually having a house to sell.

They are geniuses, no?

[dead duck resources] 30/8/2023 16:09

"Over the last six months a market engagement was conducted to identify a contractor"
Half a year to identify a contractor and then went with the market leader.

"The selection of a preferred tenderer validates the Company's procurement efforts"
The directors are proud of their achievements in selecting a contractor.

"A contract with the contractor is subject to a positive DFS and project funding"
Half a year to find a contractor, how many years will it take them for financing?

[havinthelasttoast] 30/8/2023 15:17

They grasping at straws with latest RNS.

I warned you boys. No support until performance payment is sorted out.

[2magpies] 30/8/2023 09:14

As for the 'decision to mine': imo this will NOT happen without a simultaneous J/V announcement.

That is: the 'decision to mine' will be taken by the J/V partner(funder), and NOT by UFO.

UFO just has do be 'decision-ready', as it were.

Let's see.

[2magpies] 30/8/2023 09:11

I think the one they want to 'secure' is the Native Title agreement!

[havinthelasttoast] 28/8/2023 14:57

Failures at delivering but successful at living off empty promises. When they got a real opportunity they couldn’t deliver.

Who knows the outcome. This share will be highly volatile because any uplift will be met with strong selling as relieved investors get out. Until then they are all trapped.

Lot of paid rampers have just begun to try and trap the innocent.

[westendwinston] 26/8/2023 20:10

Complete circus. Stinks of greed & ego. Rumour had it They still looking for heritage clearance thanks to Les humbum.Bet they all meet round at the Admiral & give each other a good stroking.

[lookingforhelp] 26/8/2023 11:24

The Nomad, Beaumont Cornish, should have identified the link in their on boarding process for new directors. One could assume Beaumont Cornish are deep into the Slimy Rich cupboard as well.

[lookingforhelp] 26/8/2023 11:21

So is the female director. She is on the board of Alba, put on their by Slimy Rich's brother.

[havinthelasttoast] 26/8/2023 00:05

Hi magpie

I think you need to read the other RNS’s in order to get full context.

It clearly states that they are nearly at a decision to mine stage and thus they have started negotiations.

It also clearly states that the new non exec chairman is awarded for agreeing the performance payment by the end of 2024. Thus no matter what way this can be read there is no doubt how it is being interpreted by the hand picked board.

We have been royally done over.

[2magpies] 25/8/2023 15:46

I think a 'decision to mine' will NOT be made without a J/V.

However, it still remains to be seen how Clause 4., can remain fully operative.

[lookingforhelp] 25/8/2023 15:36

It's potentially millions of dollars.Company doesn't have it.Best option would be to stop work on the project...at the moment, shareholders are funding Slimy Rich's work programs.

[lookingforhelp] 25/8/2023 15:30

Totally agree.The Nomad, Beaumont Cornish, should also be hauled over tha coals by the FCA. Unfathomable that they have allowed this to happen.

[2magpies] 25/8/2023 15:26

From 24 Aug 22 RNS:

" 4. If, within 60 months of executing the Option Agreement, Alien disposes of its interest in the Projects, the Company will pay Windfield a performance payment in addition to the Upfront Consideration (Performance Payment).

5. The Performance Payment is calculated by:
a. In the event of a Tenement Sale: 50% of the value uplift attributable to the Projects;

b. In the event of an IPO/Spin-out event on a recognised stock exchange: 50% of the value uplift attributable to the Projects; or

c. In the event a decision to mine is made: 50% of the project valuation uplift attributable to the Projects.

In each case, the uplift payments are reduced by 50% of the incurred project expenditure. "

..........................................

All is clear, except:

4. states -- "If, within 60 months of executing the Option Agreement, Alien disposes of its interest in the Projects, the Company will pay Windfield a performance payment" --- that is, PP is only triggered upon disposal.

...........................................

However, Clause 5., which sets out the basis for calculating the said PP, contains subsection c., viz : "In the event a decision to mine is made: 50% of the project valuation uplift attributable to the Projects."

...........................................

Q1. Decison to mine, by whom? (since PP is only in effect once Project has been disposed of by Alien (per Clause 4.).

Q2. If Alien has NOT disposed of the Project, but HAS taken the decision to mine, how is PP payable, since that would conflict with Clause 4. ?

...........................................

I would suggest that, as regards any Performance Payment, Clause 4., over-rides Clause 5., since PP is contingent upon disposal.

Also, an IPO is NOT a 'disposal', since 'shareholders' (old and new), as 'members', continue to 'own' the Projects.

At the very least, this requires clarification.

[havinthelasttoast] 25/8/2023 14:35

Its in the august 22 RNs. It can’t be good lol.

They have to pay if there is a decision to mine 50 percent of the valuation uplift immediately. Basically impossible.

So i suppose they will have to negotiate a deal out of it. However how can you invest until you know.

[2magpies] 25/8/2023 14:19

I get it. Thanks.

But do we know what this 'performance' payment is supposed to be , as of now, i.e. before any negotiation/re-negotiation?

Without knowing broad outline, atleast it would be hard to tell if it's good, bad, pointless etc. surely?

Decision to mine is way down the line - by which time J/V, or off-take agreement(s) may well have been signed with third parties?

I don't know.

What do you think?

[havinthelasttoast] 25/8/2023 13:40

They had really good projects. Such a shame.

Greed takes over