I agree, it seems to have found the bottom here, and the first of two known RNS announcements could come anytime in the next 2 weeks, so I'd have thought the pressure will increase daily.
Looking on a 7 day chart. it seems to have bounced three times off of the 34/35 mark, so I'd say there were plenty of people waiting to pounce. Such as me! I'm in at .35, but monitoring for another tranche.
Time has ran out for the SP to drift further as we will be caught in the thermals of news anticipation within the next couple of days (if not already as buying is looking strong). 0.35 was the base as anticipated so those waiting for 0.27-0.31 best get in now before she goes.
This news wont just be hot air however, but a gamechanger for XTR
Jan Nelson, CEO of Xtract, said: "Commencement of mining operations on surface at Salvadori has not only increased our flexibility with regards to achieving our planned daily tonnage target but it has also delivered a substantial increase in the grade. This increase will significantly benefit the monthly revenue received without any major increase in costs. The team has focused its attention on identifying more of these high grade ore shoots which can be mined from surface seeing that there are over 25 of these reef swarms outcropping on surface. What makes us even more excited about this project is that we are currently only focusing on 30% of the total area of our prospect license."
23rd April 2015 , HoA , Signed to Evaluate Copper Dumps S.A.
25th May 2015 , O'Kiep Acquisition The O'Kiep Project comprises 33.8Mt of sulphide copper tailings material on surface across two tailings dams. Xtract has a seven month option period with effect from 27 March 2015 to conclude drill work and metallurgical test work to evaluate the economic potential of the tailings material.
Commenting, Jan Nelson, CEO said: " Assuming the evaluation is successful, this project has the potential to transform the Company from a small junior to a mid-tier, low cost copper produce "
The initial cost US$375,000 has already been paid through the issue of 69,752,768 new Ordinary Shares , 20th May 2015 after renegotiation a 28% reduction in total cost was achieved . On commencement of mining a final payment of US$2,500,000 will be due .
8th May 2015 ..... RNS Number : 5695M ......... states ...... start construction immediately of a pilot plant at the oxide copper project; acquire an additional 250kt of heap leachable material in close vicinity of the oxide copper project that will impact significantly on the production output of the project;
No with this information alone it appears to me Mr.Jan Nelson using historical information plus any new test drill results knows this asset can transform Xtract Resources into a mid-tier, low cost copper produce . Therefore since the HoA was signed only two months ago the O'Kiep Project has already increased in size by 250kt of heap leachable material and one of the reasons I've stayed out of debates regarding S.A. . The project and site are under development whereas Chepica is generating profits , ever increasing profits that will no doubt go towards funding O'Kiep expansion . Let's leave O'Kiep progress a few more months before valuing production , profits , etc .... Maybe Mav2 will answer your question with a more detailed opinion , I hope so since he asked a similar question yesterday .
Hi. You are one of the guys who knows more than many who only talk sp fractions. I normally invest in Oil & Gas so copper open cast mining and heaps are all new to me. As part of my research I have done some digging and I am unsure of quite what I have found, but the implications to a copper novice , seem huge? Q1 - 4.3m tonnes of **** heaps. I take it that is a fair old size to be going at ? Q2 - Approx 345 tonnes being processed per year minimum , this I have no clue on? Would this be classed as commercial ? My understanding is not when based on 1.36% recovery rate at $4000 per tonne? Smelter. Now I really am out of my zone here. A clean smelter in good condition , any idea of asset value ? I believe there are only 3 in SA and ore has to be shipped in to keep the max processing rates up for furness conditions? Value of production $232m approx £160m sitting there? Less operation costs £100m anywhere near close ? For an approx $42M outlay ? A blooming great deal to be had ?
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