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Https://twitter.com/CopperBullish/status/1775707460965474497 [From Forbes].
Relevance: XTR has Bushrangers, Australia, a copper project primarily with some gold.
XTR has the new JV in Zambia next door to Sinomine's 65% stake for $58.5m buy in on 24.3.24.
XTR has a JV in the Westforelands, Zambia near Kobold, the Bezos/Gates big copper discovery.
Https://www.forbes.com/sites/timtreadgold/2024/04/03/copper-bulls-can-see-a-record-price-of-12000t/
(thanks to Jarv55 on a n other board for this link)
Lucky, Glencore were targetting for tier 1 projects, and so the orientation of, and drill target spread were not optimal to what would have been seen for identifying a snaller resource. Glencore had just drilled each of their targets with 1 hole.
The drill data spacing for the mineralisation style does not need to be as close or anywhere near as deep as seem at BR where mineralisation spread was very unpredictable due to porphyry typical dissemination or spatter of mineralisation.
Outlining an inferred resource on Zambian licences will be far simpler and cheaper in a nutshell as Breccia, Skarns etc are easier to predict.
"Distinguished by HIGH GRADE SUPERGENE enrichment-similar to nearby KITUMBA DEPOSIT. Former open pit and u/g mine extends to ===ONLY 70m.== Based on historical data inc intercepts of 50m grading 5.47% copper FROM 55m.
Ground geophysical surveys by G L E N C O R E in 2012 identified a no of high-priority TARGETS ===WARRANTING FOLLOW-UP. In particular , ==800M== from the MAIN Silverking mineralised body was identified with evidence on surface suggesting possible stockwork or disseminated copper minealisation between 2 BRECCIA PIPES.
Xtract will EXPLORE-----DEPTH EXTENSION--- 2ND PIPE & GENERAL AREA. JV: Should an inferred resource GREATER THAN 500 000t of contained copper be reported, ANY SUBSEQUENT SALE of the project to a 3rd party will result in an equal share of the disposal proceeds between the parties." [JV up to 70%].
SILVERKING ADJACENT TO KITUMBA.
"SINOMINE SAYS TO BUY 65% OF ZAMBIA KITUMBA COPPER MINE."-14 Mar 2024. [PRICE $58.5MILLION].
Comment: So, Glencore themselves stated the above. DYOR. NIA. 4.4.24 Xtr +10% AT 1.2P to buy [spread]
Look back at my history, been here over 6 years. I'm not a de ramper, but a fool who's been contributing to your salary.... I suspect.
Truth hurts doesn't it Mr or Mrs xtract employee.
Hey, Lucky, are you going continue writing a post a minute of claptrap here?
Waste of space.
Not surprised when this is below 1p tomorrow evening.
It is comical watching the traders jump in, pump it and then moan about the spread because they can exit with as much profit as they would like lol
Just looks like another project a major rejected.
Reminds me of bushranger.
What makes anyone here think that 1.5 million spent over two years is going to find anything meaningful that glencore missed.
Just looks like another project needing millions spent on exploration. I'd be happy if we had 15 million to spend.....but we don't. Its being drip feed to us, of which £400k will go straight into colins pocket over three years. Not to mention the rest of the board and employees.
Actual spread is 1.035 - 1.145 + 0.11p
About 10%
Get buying, when it jumps to 2.5p you'll be wishing you had.
And I need the money.
Ripley,
The huge spread is making this much higher risk than most are willing to take. When you need to see such a big climb just to see the share price reach what you paid, never mind what needs to happen to get back more than you paid you can't blame people for not buying. Then with no trades there is less interest so we sit in limbo.
All very sad.
14 posts to 11am
Spread 20% fell back to 0.83p 2/4/24
Back to 1.1p today just two days on .
Bid 1p Ask 1.2p
Likely the staged equal payments will just start as roll on in quarterly payments with immediate effect as the deal is done for disposal.
The cumulative fundamentals here seem clearly significantly better than the current market capitalisation.. and even including AIM on its knees and this sector therein more or less the same and allowing a discount for the 'Bird effect' on top too, this would be more fairly priced if it were currently somewhere in the 1.5p to 2p range
IMHO & DYOR
To answer Gordonb
“When does the 15mil payments begin to roll in?”
Xtract Parties are to be paid a further US$3.325 million in cash to settle all monies due under the Mining Collaboration Agreement from MMP to Xtract of which US$2 million has already been paid.
The $15m will be paid in cash in regular staged payments by the Buyers over the period to 1 March 2027
As for Linconlite you need to do your own research to understand that you have described the business model of just about every junior in the exploration mining sector.
So with significant income from staged payments up to 2027 and at the least $2m cash in bank you cannot put xtr in that same basket.
I doubt it David6576. You'll not find many researched investors trusting Colin Bird with their capital these days. Gamblers maybe, but not investors. Colin has quite a poor reputation as the operator of a number of 'lifestyle' companies. Historically, he's the only one that tends to benefit financially, from the fat salaries and board fees he pays himself. The majority of shareholders lose.
I would have bought some but the mm can go poke it feck them, can't understand why it would be so high benefits absolute no one not even the mm .
20% spread on HL is ridiculous.
Investors snapping up while it's dirt cheap.
MM letting it run, quite right too. A few good buys this am at 1.1
When does the 15mil payments begin to roll in?
Close the spread and let her fly p
Confirmation of the value that has been created for shareholders. Excellent progress.
Copyright OldSchoolFart
Let’s see heeded go hard today! Started well with bid rising
Isn't it comforting to see a sustainable share price. Well for half a day anyway
Most were viewed in yesterday's late JV update.