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Hi Dani
Don’t let it get to you, opinions are just that. If they wont be dazzled with diamonds, baffle them with bull5hit.
>>One question i wonder why Colin didnt release valuation results prior to doing Preconcentration tests ?
Optimal Mining had identified that the economics of the Project could be improved by modern ore sorting technology, so the full Study will be completed based on the relevant test work that is being done.
Is normal practice, would be pointless and a waste of their time and Xtract money to have continued with the previous development options that will be in the full mining study where NPV and rate of return would be established, without the influence that the pre-concentration study will have on reducing the capital cost that is a key figure.
Hence the interim report just looked at various economic pit shells with only the op costs included.
Zap-a-Dee-doo-Da is having a merry blue day ;-)
Where the pre-concentration study is at present, being half way there. Its success is influenced by various factors with the ‘most’ important first hurdle having being passed. This is basically how it is evaluated if is of interest. But it’s a difficult one to gauge how significant its effect will have on the economics.
Technically, ore sortability relies on the intrinsic ore properties which determine the potential of an ore to be sorted. Several other factors influence sortability, including the commodity price, operating cost, and the metal recovery. The metal recovery and the operating cost are relevant to the sorting performance and influence the metal mass balance which is the balance between the pay and waste rock at sorting. The sorting performance is a function of the ore quality and it’s properties to be diverse in content, and the sorter’s efficiency. While the mass balance of the sorter operation is significantly influenced by the cut-off grade of the sorter’s separating ability.
CB seems confident it will work as good as they are hoping. Early reports must be positive.
10p plus Bushranger sale
Jdau you think more on 7p for a xtr future value?
An NPV with the IRR for BR will/should/could have an effect on the market cap short term, as there will finally be some numbers for investors to base an investment decision on, particularly so if the pre concentration study shows a positive effect on the economic potential.
5p at least from that with fairbride income increase but dependant on external factors too I would imagine.
Personally I think putting a sub £50m market cap as your “max target” for all that XTR has to offer is pessimistic.
Im reading all opinions but i try to see future xtr price and target 5p is Next Max target here (2023/24)?
Have to say, the hard rock production in ramp up, through rainy season, bodes extremely well going forward,
Good commenting throughout the day all, thanks.
Results are getting stronger by the month despite the rains. So any further dilution by fund raise is looking less land less likely now if not at all.
Further development talked about again, to increase revenues. A processing facility at Kakuyu to be fed by ‘others’ mines locally and to process the anticipated increased reserves from strike extension will give longevity to that particular increasing revenue stream where there will be 60/40 split of proceeds from current pit increasing to 70% to xtract from any extensions from that further exploration. May give some of that away to a JV partner for bringing in the plant, to mitigate risk.
At fairbride alone, with over a million ounces in ‘current’ reserves to be mined they will want to increase production largely, to bring anticipated LOM of 50 years at current production rate, down. So income could ramp up far more over next 2-5 years
They can concentrate on optimising the pit model by increasing the resource and further the exploration of the other anomalies hinted at, as and when the treasury allows now. All increasing BR value which seems clearer now, that is the intention. Why parcel it up now to be marketable, if they can afford to increase its value far more?
Appears pre-concentration is not a case now, of wether the ore type is amenable, but if that amenability is effective enough to improve NPV as they now know the paydirt v waste percentages per grade. And are waiting on the recovery losses to determine. The down side, another month to wait for that, then the conceptual study can finally be updated. I don’t expect drilling to commence though, until mid Q3-Q4 leading into ‘24 with a PFS by that year end. :-(
A blue long weekend :-)
Very Good Ben :)
Actually some of that may be far to close to the truth to be funny :)
That said, If this hits 15p then we will all be laughing and no doubt all long gone.
Well, maybe not all. Some my be still be waiting for the "inevitable" £1 sp before selling..................
Have a Good Easter everyone.
Funniest post ever BenH. Shame i can't show the wife. They just don't undestand do they. Tears from laughter instead of from the share price for a change. Thanks again matey! Happy Easter all and Colin.
Sounds about right, Andrew.
I imagine Dani will still be waiting for it to ramp up to £1m a month net in Q3 2035. By then we'll all be long gone, having sold out in Q4 2023 at 15p when AA realised copper was going to the moon and made us an offer we couldn't refuse.
Dani refused to sell, explaining that Colin said in a podcast once in 2021 that we don't pay Operating costs in Mozambique. She was therefore waiting for "at least £1" before moving on. She ran the telegram group, after the Roast boys all cashed in their shares and sold out. The 2021 podcast link is pinned on the group.
The LSE site in 2035 is quiet, although interesting to note that one regular visitor from the 20s, Kwadoku, has changed his tune and argues that even he made some money from BR and XTR when it hit 15p. Steve4077 is an occasional visitor, popping in to claim he's made 20% on his copper trackers over the past 12 years.
Occasionally, retired Zak Mir loads a podcast on Vimeo with 92 year old Colin Bird, who brags about extending the strike at Kakuye to 280m and possibly doing some drills to test an IOCG at a place called Eureka. He recalls realising he had this licence stuffed at the bottom of his back pocket his "Eureka moment", as he'd forgotten he even had it. Zak says even less in the 2035 podcasts than he does now. Colin explains that drilling out Eureka will not be a "death by a thousand lashes" and will be in production by the end of the year 2035, to join the other 37 small ventures Xtract have signed up to in Zambia. Best place to look for elephants is where you've already found them, he jokes.
Have a good weekend all!
Zak Mir Interview below
https://soundcloud.com/zak-mir-168804435/zakstraderscafe-interview-colin-bird-executive-chairman-xtract-resources?utm_source=mobi&utm_campaign=social_sharing&utm_terms=mobi_audio_ads.control
CB is consistent with his anticipated income figures here, with his prediction of $400K to £500K a month ("assuming we achieve our targets")
Worth noting that we are now only just starting to process the main Hard Rock which will be higher grade. So hopefully another marked increase in income for next quarter?
CB said steady state should be achieved in 2 to 3 months , so that probably means 4 months so hopefully by mid Q3 we will be at full capacity??
I'm looking for 50% increase in production next quarter (no rain and now in main Hard Rock) and another circa 20% increase for quarter after that. That should take us to CB's anticipated monthly income of circa $450K a month by Q3?
Absolutely and should be more than that in 2 years but I expect it to be sold well before then!
Andrew444,. I don't know why you bother. She has never understood that the 23% is profit and not 23% of the value of the gold sold.
At least she is no longer repeating her valuation of Fairbride at £12 per share that was her considered view some time ago.
Blimeyori my avg is 4.5p any Hope here the Next 2 years?
Dani
I've already given you a comprehensive breakdown of my calcs on 16 Jan 2023 at 20:10. That was the second time I have done that and dont want to clog the BB up with another long post.
The "three times "comment by CB was some time ago and that was x3 income from FB per month against alluvial income. If so, that again confirms your income prediction is far too high and more consistent with my FB prediction.
There is nothing more I or anyone else can say to show that your figures are far too optimistic, so I will leave it there. May be you will start to understand more when FB income settles down by Q3 and is broadly what I have said.
So sorry, we are not on the same page.. or even on the same book...or even in the same library. If we were in the same Library I would be by the "factual reading "area and you would be reading at the fiction area :)
Share of the year by end of 2023!
One can but hope!
1.4p was the bottom? Will xtr return to 4/5p the Next 24 months?
Well played, NtM, well played! With a nice little 12% rise before lunch and a 4 day weekend ahead of us, the timing is almost perfect. Bring on 2p!
For what its worth....MMs will take 1.25M at 1.53p atm
They want shares.
….and we have one of the top 10 potential copper mines on top of this , with money coming in to fund more exploration
Just past the first minute CB states the figures are BEGINNING to look very impressive. That indicates or confirms to me that a lot more is expected. Nice podcast
PS : As today is the beginning of a new tax year, and in case ben 'owell has his finger on another trigger :
I wouldn't like to be out of this in the 23/24 tax year !!