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(...and CB said he was moving to the role of Chairman only from 1 Jan 2024 .. and had found a CEO for xtr,l with Industry wide recognised credentials )
''and my share of the company halved (before i sold some) due to bushranger, which is currently worthless.''
Obviously its blo+dy bad news for all here that Bushranger is currently worthless in the markets eyes.. but given we now know that Mr Colin Bird is not for spending any more money on drilling there, at least POC rises decently and the market starts to push up the s/p towards acknowledging some value in Bushranger.. then Bushranger shouldn't be categorised by any as a minus valuation now.. and that makes it clearer that if you value Manica in the 2 to 5p range, then it's undervalued at the current share price.
I had just sold my car, prices were high and it seemed a good idea to make some extra money from the AA buyout and buy another car in a few months time. I can relate to people's frustration over BR ...... Equally you have to move on.
I didnt buy anymore at 7p, but there was no way I was going to sell at 7p after CB's many comments.
It was definitely going into double figures aftter the buy-out wasn't it ??? :)
I'm happy to hold as my bet is its going higher from this level, but I wont be believing anything CB says ever again in an interview.
Interestingly over 5 years XTR is up 43% but AIM is down 30%. (Sadly l was still buying at 7p !).
Lucky
You previously said
" I still hold 2 million shares. ..... trying to sell in volume, is difficult. If I try selling the rest this week, I imagine I'll get an average of 1.3 for them? Maybe less?"
If you want more than the 1.3p you could have got today, then I think you should be joining the "Pump brigade" as you have characterised them :)
Or at least not make posts that could be seen as negative .
Ofc that's assuming you still have any shares left to sell. You may not have.
Yes howzap, you have described it perfectly, but I would say....the next bunch of gullible idiots, not confident shareholders, to carry on colins gravy train.
I used to be you, telling the people who are saying bad things, that they are just trying to deramp to get in cheaper, or trade it, or, your just jealous because we're making money and you sold......
It goes on and on in a big cycle.
I've made very little in 5 years, I should have listened and sold on the spike. I will on the next spike, while the rest of the "confident shareholder" wait for the pot of gold that never materialises.
Ohh yeah, and my share of the company halfed (before i sold some) due to bushranger, which is currently worthless. If we had no bushranger, I would likely be happy with my sale of shares at 4p. (My original target)
Lucky, here’s a thought. For the share price to march on, it will need an influx of new investors to take over when the disgruntled investors finally leave. Originally there was the financing overhang issue holding it back and will no doubt be held back with get out, or rebalance selling all the way up to 6p or so.
CB’s comment of ‘disappointment’ was either effing stupid or clever strategy to tip the weaker holders on the verge to finally bail releasing what is a shed load of shares at a low price to be taken up by new or existing more confident holders.
The current, confident investors with a longer term outlook “from this point on” are not overly concerned about the share price being where it is for time being at least.
Yours
Rampy Ramperton 😉
HZ - thanks. I know when l researched it a while ago l thought the project had a lot of potential bar the obvious current production. It is good to hear Empress saying the same.
Colin has been tweeting about copper and not tagging Xtract again. Shows what he thinks of bushranger. If it's not worth a little tag on twitter, is it worth 200 million!
I see the boards got lots of new and old posters here. Pump brigade back, I'm ready to offload this time.
Hi flipper going by the DFS all of the ‘classified’ resource at fairbride is down to just 280m. I’m unclear of the pit optimisation model finalised for max depth but what is clear is that there will be a smooth transition engineered to finally go into the deeper sulphides when that time comes. At what depth achieved and ongoing mining method is uncertain as any ongoing pit extensions will now ultimately dictate I would have thought. Is a changing geological landscape so to speak from now on depending on what can be further added to the resource or reserves.
HZ - am l right in thinking that it is open at source and can eventually go underground ?
If I recall correctly Jeremy Read was also involved in Pursuit Minerals deal with Kendrick Resources in Northern Europe.
Another CB company, Kendrick not Pursuit!
Quite a tease suggesting a new sulphide plant could be developed nearer to fairbride pit. Implications do seem to be that both would run concurrent potentially doubling throughput dependant on scale of course. If so, or that assumption is made, then the higher grade material would further increase xtract share of profits with up and above 2.62 g/t ‘average’ resource grade from the current 1.7g/t currently being mined from oxides when new plant is running. (2.62g/t average across all FB pit gold reserves of 215,000oz ) an increase of 50% more recovered gold from new plant on top of doubling up with both.
Leaving existing plant to process the oxides from satellite mines getting into the remaining 992,000oz with option to maximise capacity also with potential of processing out sourced material from artisanal mines nearby maybe. Incidentally Colin mentioned this is an option for theplant at Kakuyu in his podcast on the matter with Zak I think.
No way would they decommission the existing plant to move it to new site for its modular components.!! New plant would surely be standalone, ROM pad, crush and process to run concurrently alongside current plant it has to, if potential LOM across all exploitable gold is to be reduced.
Be interesting to see what size mill is being considered and scale of operation will deliver.
Every aspect, including exploration within the concession and evaluation and work to exploit new material will start to ramp up over coming few years into a much larger operation overall.
Manica has been unlocked!
Apols to cyberiaches.. I missed the bottom line in his post the first time I glanced thru here:
''Ounces could/should increase - target is 30,000 plus ounces per annum ''
So we're very much on the same page.
The legendary geologist JENTA OWENS , MD at Godolphin Resources referred to in the article - expert in the Lachlan Fold geology where XTR's Bushrangers is.
Oh, guess who is the Non-Executive Chairman? None other than JEREMY READ.
I did recall that so I checked.
Link: https://www.godolphinresources.com.au/board-and-management
Xtract Resources RNS 4 Aug 2021: Mr Jeremy Read has stepped down as a non-executive director of XTR but will remain as Project Manager.
There does not seem to be any more XTR RNS's about Mr Read.
I notice afp defaulted on pegging notices ::}
Given the earlier, now deleted posts, I will add this:
https://www.facebook.com/people/Ministry-of-Mines-and-Minerals-Development-Zambia/100069261307422/
Makes sense bob, save a packet on trucks and diesel , wear and tear on the local roads etc .
Actuallt Colin mentioned the sulphides plant may well be built closer to or in the pit, and could wirk concurrently with the present plant.
NTM, exactly, may take a bit of time for xtr to prove itself , but the longevity will be obvious to all .
Interesting how other companies spin differently,
https://www.lse.co.uk/rns/TYM/uk-government-press-release-supports-zambia-growth-lgop5ju0wlj7o8f.html
Much there could be relevent here.
Is Manica not still in ramp up mode Cyberiaches.... so monthly revenues will be growing out still .. and the annual run rate increasing off the back?
(I'm hoping xtr's income will soon get into the $5m to $6m dollars per annum run rate range.. when this reaches full optimised production .. and sulphides mining will be added on top too, in due course.. that due course hopefully sometime in second half 24 onward, after plant enhancements build out)
Yes good to hear that “we expect it to run a lot longer “ re manica - she’s forecasting $1.6m for the year which equates to $47.5 million total revenue @ 3.375% royalty - about 24,000 ounces
47.5m x (800/1950) x 23% = $ 4.482m to xtr or £3.5million per annum
Ounces could/should increase - target is 30,000 plus ounces per annum .
6m 30 onwards re: Manica, note last second mine life correction https://youtu.be/rUcraGITOHQ