I spoke with IR today, said my part about RNS updates, said we were due a decent RNS, JN has big plans for XTR is for sure and it is not far away from spawning into more projects was my impression. I underlined the SP performed badly since JN updated us and that a better footing is now due to the PI majority in terms of an update for the production figures post ball plants into production. All of us can rest assured we have a top guy in our PR John Bick, he is focused and clear.
I had a similar feeling after the half yearly results and felt a bit peeved about the lack of RNS about the ball mill trouble etc. I said at the time that we are buying J N until we have confirmation of production. We know he's done it before with PAF and we're betting he'll do it again. I always remember Colin Bird saying that JN had turned down job offers from 5 major companies to take this job at a near bankrupt company for no money (other than shares). Says a lot. According to Joel Silberstein the policy is not to issue RNSs for everything. You could take that in two ways - it's either that they are covering up or are mature enough not to sweat the small stuff because they'll sort it out in the end. That's where we have to trust JN's ability. If he does what he says - and I now have 10m reasons to hope he will - we're all going to make money... even Yorkville.
I forgot to add this very interesting link with regards to our remaining 3,871,365 GOS shares when listing of GOS shares on a stock exchange or market . As far as listing in the New Year is concerned I'm sure someone else reading on the sidelines can provide that information . My notes do not have a link to that information hence might be an email reply to a questions put to Xtract by another investor . Here's that interesting link . www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12004078.html
b33661 ........... you were worried about overheads well here's a line taken from the attached link to help you see where information is available and yet overlooked by so many . Costs are forecast at US$50/ton compared to forecasted revenues of US$155/ton I didn't include this in my original post thinking someone might ask about overheads , cash burn etc .... well this line goes a long way to answering that .... P.S ... link taken from towards bottom of page . http://www.xtractresources.com/chepica_detail.htm
Thank you for the links. I have read all but one of these before, but will go home this evening and recheck my homework. Overall my point has not changed, we need action and decent communication from the bod not slipping deadlines and hopeful targets.
You speak as if everything in your email is fact. It is not, and should not be dressed up as such. We all hope it is true, but the recent history of XTR and the BOD has been no news is bad news. The one way to get this share moving north is to have an operationally significant rns. Much else of what has been said on this board recently has been hopeful wrapped up as pseudo fact. We have no way of knowing the progress of the mill and throughput expansion, let's be clear. We have no idea about gos timing. We have no idea about cash burn or further operational delays. Management do and they need to start delivering and banging the drum. Failing that the mms will walk this down I think. I am still hopeful of a turn around but I am realistic and feel the company has done a poor job recently at communication, hence sp pressure.
Xtract Resources market cap £6.17m ......... hum ....... bit embarrassing for Market Makers in their quest to create a market . Appears the very low volumes over the past few weeks speaks volumes for investors belief in XTR to create revenue . Ah , but they already are not only processing 6,500 tons of ore through Mill 1 & Mill 2 but recovering 85% of concentrate . The stuff that we sell to Enami ( Government Refinery ) for approx US$ 155/ton . Now 85% of 6,500 tons of ore is 5,525 tons of concentrate times US$ 155/ton equals in revenue terms US$ 856,375 per month and yet the Market Makers value the company at £6.17m ....... big embarrassment ....... hey . Just take it as it is since we have an earn in agreement that's buying us a mine valued at US$ 6.75m prior to all the maintenance work , new bearing in Mill1 , new Girth gear Mill 2 , new flotation float cells to increase recovery from 55% - 85% of concentrate from ore etc ... etc .... Not to mention our ball mill foundations have been laid with increased throughput capacity expected to increase to 9.500t/month ..... Strewth ..... the list goes on .... ,money in the bank , share in the company GOS due to list early in 2015 on a stock market and yet owing to the MM's trying to creat a market we have a market cap of £6.17 million . If I was Jan Nelson and Colin Bird I'd do a share buy back with some of our pool of money from recent asset sales to strengthen the books and why not the main share holders Polar Star mining corporation , TIR , even our creditor Yorkville still holding 5.5% would surely agree ......... hence who's worried if the SP is where it is . It isn't as if XTR are in financial trouble , lacking ore to process in Mill 1 & Mill 2 at Chepica ...... nay ...... it;s the MM's playing casino with a transformed company .
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