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Andrew. True, but it does provide good buying opportunities imho etc etc. what's not to like about gold !.
"The market is very much taking a Doubting Thomas attitude to his record of overpromising and under achieving"
Yes it has and understandably so. But Its actually gone too far the other way now IMHO.
The sp went up too far on sentiment and false promises, and now its gone down too far (IMHO) on sentiment and not believing anything that is said...even in an RNS it seems !
It was interesting listening to the Sunday roast guys reeling off a list of companies which they felt were incredibly undervalued against their amazing stables of projects.
One thing they all have in common, Colin Bird is involved. The market is very much taking a Doubting Thomas attitude to his record of overpromising and under achieving
>>HZ you are saying it’s acceptable or understandable to completely mislead shareholders.
I got called naive for once suggesting they couldn’t hold back results as was against AIM rules.
All I’m saying is CB is clever and careful in what he actually says.
Right or wrong is subjective of course. Do I agree, not particularly as if I had known early days this would likely take 3-4 years then I would not have initially invested. But with a far better understanding now I am happy to wait longer.
Hi cyberiachas >> Turned out to be nearly all complete rubbish- BR anywhere between 1.8 and 2.6 million tons lol
Those assumptions were made before Ascot was identified as a separate porphyry, you could argue his assumptions were based on if all of what would have been racecourse with the strike extension of 3+Km identified was delineated and drilled out, may well exceed 2mtCu/Eq
At present there’s 1.3mt classified but we do not know how much more there is at racecourse and particularly Ascot that has been drilled but did not make it into the resource statement.
If he had said we are looking at a JORC of between 1.8-2.6mt then that is clearly different.
As shareholders we can huff and puff as much as we like but it is not until the MARKET starts believing CB that the share price will move, again applies across all CB companies.
HZ you are saying it’s acceptable or understandable to completely mislead shareholders (apart from insiders of course) in order to prop up the share price for whatever the reason? There’s a word for that and if he did it in the USA rather than on AIM the consequences could have been a lot more unpleasant.
I think we need to reset and look at where all the assets are now and what stage. Costs v Productoin (Delivery) over time.
CB said what he has and its served his purpose (goal of placing at the time maybe or flexed his muscles to AA)
Time to deliver now.
"although one can loosely compare it to a weather forecast in that it is based on assumptions that are made at any given time. Once there is a change in the meteorological/ geological picture in this case, then the longer term forecast changes"
Sorry dont agree with that analogy. That gives CB far too much of a "get out"
using that same but better analogy, it would be like the met office giving a forecast of very hot and sunny in January, then saying we've changed our view as its now -5 degrees outside and snowing !
It was never going to be hot and sunny in January !
Quite sobering listening to that again. Turned out to be nearly all complete rubbish- BR anywhere between 1.8 and 2.6 million tons lol
He wasn’t giving hopeful projections- he was adamant about the scale and the timescale.
He also misrepresents the manica share as 23%of the gold produced, which was clear even then wasn’t the case. And gave fuel to certain Ma niacs.
And eureka ! About to monetise then just disappears.
I’m not sure why he’s surprised when the market ignores his recent puffs for the AFP and GLR assets.
Agree wholeheartedly with you Matty, although I am of the view that your comment should apply to ALL CB's companies!
I do tend to agree Jezzoo, although one can loosely compare it to a weather forecast in that it is based on assumptions that are made at any given time. Once there is a change in the meteorological/ geological picture in this case, then the longer term forecast changes. CB has really pushed the boundaries of what is morally right considering our money is at stake.
What folk need to consider is without any hard hitting promo to get the share price rallied into the 5-6p range the £10m+ fund raises would have killed the market cap with massive dilutive effect even at 2p. So with Fairbride commissioning and ramp up taking as long as it did, he couldn’t risk a collapse in share price if a further raise was needed at that time so the over optimism and exaggerated statements needed to continue up to the resource statements being released.
I think the majority is going the RNS route now Matty, hence the total lack of them.
Howezap I appreciate you playing devils advocate but he shouldn’t have said all those things if they weren’t likely to happen even if he did cover his a rse, those roasts aren’t designed to be picked apart analytically they are straight forward PR vehicles that should contain useful information not misleading information that may an did cause people to invest, me included.
"you can't believe a word he says."
I believed him when he said he'd had a 30k pay rise.
Just on the subject of BR.
Valid question from Kevin on subject of 2mt and DtM- “When do you start the conversation with Anglo?”
Colins answer- “When that goal is achieved.”
Hate to keep playing the devils advocate, but someone has to! He covers himself with this answer quite clearly. Of course he is using plenty of artistic license that is at his disposal to plug the project setting targets for talks, but they are just targets. They are not a statement of intent or a promise.
On production, all the info is in public domain from DFS to mmp agreement to understand potential revenues.
Agree though, should not be taking promotional podcasts seriously without first fully understanding the company financial position and the status of the assets from company website and official news releases, and certainly not as a substitute for proper research in continually evaluating an investment.
That was an excellent interview and worth a listen to again, as it clearly shows the utter BS he talked at the time.
Predictions for FB, Eureka and BR. All completely way out and not even close.
"Target date for 2mt or DTm end of April but if we miss it it wont be quarters just a couple of months"
He must have known at the time that a lot of what he was saying (about all the projects) was utter BS, and not just overly optimistic.
You can't believe a word he says.
How much of this has still to land?
https://audioboom.com/posts/8014752-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr
I am just waiting for the important news of Mrs HZ trip to Las Vegas. Hopefully she did a side trip to Nevada to check outs GLRs acreage at Ferber.
I might have to switch her back on, judging by the amount of green boxes it’s Manic Ma this weekend
MB. You must have terrible bad breath cos you're constantly talking shiite
JEZ You are missing out on the comedy gold
Lol Billy !
Not conversing as such, it’s all green boxes to me !
High as a kyte springs to mind
Must be a bad fix
Yawn.
Jez why do you bother to converse?
See below