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Xtract Share Chat (XTR)



Share Price: 0.175Bid: 0.17Ask: 0.18Change: 0.00 (0.00%)No Movement on Xtract
Spread: 0.01Spread as %: 5.88%Open: 0.175High: 0.175Low: 0.165Yesterday’s Close: 0.175


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LordSnooty
Posts: 6,658
Off Topic
Opinion:No Opinion
Price:0.175
The Clue
Today 02:06
to last week's events was p.3 of the most recent quarterly update, dated 4th May

Vision - our journey, our destination:

- Build up our cash position and minimise dilution - tick

- Leverage and recycle our current asset portfolio - tick

- Target further growth opportunities that can deliver imiment returns - tick

(my ticks)

Seen in that light, it appears JN has a rather longer term strategic perspective than some give credit for.
 
Spec
Posts: 679
Off Topic
Opinion:No Opinion
Price:0.175
View Thread (6)
Lets
Sat 21:51
Be honest here. The big play was the Manica tailings project, massive in ambition and scope. Also, this was the hype JN was playing on. So why did we not proceed? Don't try and tell me it was for a 40% profit on initial investment. We couldn't get funding without massive dilution, simple as that. So JN sells rather than dilute shareholders to high heaven. If that is the rationale behind the decision then so be it. As other posters have mentioned, we have a producing gold mine and a wad of cash. That is a good, no, damn good position to be in. I still believe shareholders are gonna get a special dividend out of that. Jan might not be to everyone's taste but Imo, I'm happy to have him on my side.
scouser
Posts: 1,475
Off Topic
Opinion:No Opinion
Price:0.175
View Thread (2)
Xtract
Sat 21:23
the valuation of this stock is so cheap at the moment due to the Chepica hiccups (mainly down to bad luck). Methinks, Chepica alone could warrant a market cap of £70m if things run smoothly there, for a sustained period, as the markets will then grow in confidence. Now we have a nice wad of cash coming in and no dilution. I'd imagine there are some distressed sellers out there with great assets. Who's to say we wont buy a mine not too similar to Manica thats up and running.
Spacemen
Posts: 4,721
Answer
Opinion:No Opinion
Price:0.175
RE: Manica
Sat 20:30
saxonway20

Xtract Resources has spent no money on the Alluvial JV with ( MTI ) hence worth listening to the proactiveinvestor clip from 2:12 on wards to clarify this .
www.lse.co.uk/share-regulatory-news.asp?shareprice=XTR&ArticleCode=0wswltta&ArticleHeadline=Disposal_of_Manica_Gold_Project_for_US175m
saxonway20
Posts: 3,739
Off Topic
Opinion:No Opinion
Price:0.175
RE: Manica
Sat 19:53
Spacey
Until completion things will carry on as per present agreement
So we still proceeding with the JV re Allivall?
bazmanblue
Posts: 4,850
Off Topic
Opinion:No Opinion
Price:0.175
RE: looking forward
Sat 19:17
Jan has been saying stuff like that for more than a year... but good luck to you
Cavity
Posts: 231
Observation
Opinion:No Opinion
Price:0.175
Galileo Resources
Sat 19:04
Agogna you may well be right re Galileo as this is Colin Bird's favourite and his largest personal holding! Some interesting prospects in Nevada re gold and copper!
Spacemen
Posts: 4,721
Answer
Opinion:No Opinion
Price:0.175
RE: Manica
Sat 18:47
saxonway20

Xtract Resources is selling its 100% interest in Explorator Limitada ("Explorator"), the entity which holds title to the Manica mining licence 3990C (the "Manica Licence") to the Purchasers at completion

Terms of the Transaction

In the event that the Transaction does not proceed to Completion for any reason, the Group will continue to maintain its ownership of the Manica Licence and work will continue on the mine at Fair Bride and the Alluvial Gold JV Project, in accordance with the existing project timelines.

In other words Nexus Capital Limited ("Nexus") and Mineral Technologies International Limited ("MTI") are buying the lot so why would they want a JV partner when they could make far more money doing it all themselves .

another paragraph taken from Fridays RNS ,:
In the event that the Transaction does not proceed to Completion for any reason, the Group will continue to maintain its ownership of the Manica Licence and work will continue on the mine at Fair Bride and the Alluvial Gold JV Project, in accordance with the existing project timelines.
I quoted from an RNS hence better add link : www.lse.co.uk/share-regulatory-news.asp?shareprice=XTR&ArticleCode=0wswltta&ArticleHeadline=Disposal_of_Manica_Gold_Project_for_US175m
Bolgas
Posts: 1,313
Off Topic
Opinion:No Opinion
Price:0.175
RE: Manica
Sat 18:46
Sax, I suspect things will move much faster this time around, expect a tax application be submitted promptly and completion around 4 months time.

That will ensure any processing is perfectly timed for the new company to take full benefit. Monies will no doubt be paid in full once all is done and dusted.

Thing is there's been several large buys into the last couple days of trading, knowing XTR someone knows something and I doubt it is a punt investment, time will tell, I suspect it will be a good JV of sorts that is nearing completion, promptly followed by JN's resignation, which as only a partner on a JV will not cause any downward pressure on price.

Just a guess.
saxonway20
Posts: 3,739
Off Topic
Opinion:No Opinion
Price:0.175
Manica
Sat 17:55
It has taken us a year to transfer the title

So for the mean time the Allivall will still be going ahead

What about the payment surely this will arrive in bits and pieces?




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