Nah, I can't go along with that. I was going to reply to GB's post earlier, but got sidetracked. I thought that he, and through him JN, presented an excellent case for the prosecution, an eloquent antidote to some of our overly-euphoric estimates of profits from alluvials (mine included). But as is so often the case when one is dis-invested, I think GB is seeing things from a rather more negative perspective than if he were entirely neutral. I have no problem with that, I think we almost all automatically adjust our level of optimism or pessimism according to our level of investment. So as someone who remains heavily committed here, let me offer one or two thoughts to redress the balance a little: MTI are investing $20m. That level of commitment, and to hike it from the original $1.165m proposed in the Oct 2015 Strategic Review (p.35) must surely come as result of what the JV partners saw in the PEA and/or subsequent review and samplings. We remain in the dark as yet as to why the project has been expanded incrementally, I hope we will have light shed on that in a week or two. Similarly, you do not commit to building three plants costing $6-7m each, ship them from Jo'berg, and engage 100 new staff if you do not have a pretty shrewd idea of what you are doing. JN has received (and continues to receive from Gasball) criticism from us amateurs here and elsewhere for some of his historic over-promising and under-delivering on those promises, but I have yet to see anyone say he does not know his business, and does not have the track record to prove it. GB, I feel, somewhat overstates the risk side of the risk/reward equation. XTR is bearing none of the capex risk here, remember. But perhaps I am in turn overstating the reward side. That is the nature of debate. So that is a sample of my case for the defence, and we shall see over the course of the next six months how this very interesting project pans out. In any event, these alluvials are at present not ascribed any value at all by the market, nor do they presently form more than a rather large hors d'oeuvre before the main courses for XTR.
Good post GB,now where have I heard that before, or was it good post Bolgas from GB. Two great minds think alike ( or is it one?) Not to worry neither of one of you are invested at the moment. Maybe Riz1234 was right!!
So we had a fantastic RNS yesterday with regards to better than expected :
1: On reef development increased by 87% to 285 metres (Q4'15: 152 metres) 2: Off reef development in the quarter totalled 86 metres (Q4'15: 0 metres) 3:: Total tons mined increased by 228% to 18,212t (Q4'15: 5,546t) 4: Mill gold grade increased by 36% to 2.25g/t Au (Q4'15: 1.65g/t Au) 5: Mill copper grade increased by 7% to 0.80% Cu (Q4'15: 0.75% Cu)
When everyone knew throughput would be greatly reduced at the processing plant owing to the tragic accident on Christmas Eve , 2015 that claimed the lives of two employees and yet those not invested don't seem to appreciate these figures .
My observation is the ( MM's ) have walked the SP up from 0.15p /share , recently and from these excellent results I can't see why they don't just carry on walking the SP up . So why am I unhappy when this is so logical after all AIM shares are always illogical well it might be I want more shares but I don't have to post innuendos in the hope I'll get them . The facts are there in yesterdays RNS if you chose to ignore them and forward think , guess the unknowns as regards to the US$20 million investment already arranged by our Joint Venture partner ( MTI ) then so be it
P.S .... There was a paragraph in yesterday Operational Update with regards to Manica Alluvial Gold JV Project alas Bogus obviously missed it but then when an RNS comes out concerning the Alluvial Gold JV , I'm sure he'll imply Chepica copper / gold mine prospect is doing badly because it wasn't centre stage in that RNS....... Some people ........ hey ........ lol
Good post GB, whilst those figures sound impressive Jan really need be delivering on past promises first. There's nothing factual in RNS form regarding JV costings etc, surely those sorts of investment would normally be worthy of such.
Like yourself I remain on sidelines for now, happy to wait for something of substance to materialise before making an investment again, words are one thing, actions with resulting income/profits are another.
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