Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Thanks Steve. Yes I did watch the recent video but I'm not sure I understood it as well I should have. So for example they seemed to be planning to drill quite a few holes along a NW/SE (?) axis of about 3kms or so. But from memory the best IP data was in the SE, so are the NW holes as important? If the SE drill holes turn out to be dud (false positives from the IP survey) does that bring the whole model into question? Conversely can the NW holes only add to the resource identified because little Cu is assumed in the current model to be there, a negative result there would not be as dissappointing? I realise it is the team that need to understand all this not me, but I am interested to learn about the companies I invest in and who knows, at some stage it might even help me make better investment decisions.
>> So does meeting the AA target depend on the totality of the phase 2 drilling program
If you haven't already seen it, watch the 30m presentation on the phase 2 drilling. It will answer of a lot of questions about why holes are being drilled in specific locations.
In general though, the focus seems to have moved on from the AA buyout to proving up an economic mine plan. Jeremy Read stated they were almost at PFS stage, which is incredible given they only started drilling in December. If the mine plan looks good (and all the signs from the recent video are that this could be something special), then we would have majors queuing up and the AA buyout becomes far less relevant.
In general, the approach has become far more professional and detailed for phase 2 due to the focus of Jeremy Read, Quintin Hills, etc. on Bushranger. This is no criticism of CB who manages several companies and has done exactly the right thing in finding the right people to manage this key asset. This is now about providing the necessary information to make it easy for the market and the majors to understand the huge potential at Bushranger.
Thank you @Steve4077.
Sorry, but can I ask a possibly silly/difficult questions as well. I think it mainly shows my current level of ignorance (sorry). Our current JORC is appox 71Mt Cu. I know this is out of date because of phase 1 drilling, but I haven't seen any real estimates of how this figure has changed already. From things the team has said I think they believe we 'should' be able to reach the AA target. What I don't know, and would like to, is what are the key things in the phase 2 drill holes I should be looking at to get a feel whether this figure is achievable? Are some drill holes more critical that others and if so which? I think (but am not sure) that the order of phase 2 drill holes is now designed to prove the possibility/feasibility/size of a potential open pit rather than achieving the AA target. Is that right? So does meeting the AA target depend on the totality of the phase 2 drilling program (and therefore no individual hole is more critical than any other, or should we be paying special attention to certain drilling areas/holes? And If so which ones?
Not an answerable question ATM, phase two so far has only preliminary results and it's VERY early days as to the size of the discovery and the subsequent value.
>> Apologies for the rubbish question, but what price would be a reasonable guestimate for a buy out ?
For the buyout, you need to assume that XTR manage to find 2m tons of contained copper and AA exercise their option. If both those are true, then the general consensus of reasonable debate on the forum seems to be in the region of about 30-40p. If you read back through the forum, you will find a number of posts that go into detail on how that is calculated.
Apologies for the rubbish question, but what price would be a reasonable guestimate for a buy out ?
get these holes out hte way then its either start mining or a buy out will be on the way,either way looking great for xtr now,big buys will be rolling in soon if they can get a hold of any shares,they will be getting rare to buy as no one wants to let go
Agreed, get some momentum and boom :)
As an aside, the share price is now at a high since May, not bad for a small amount of buying. We should do well from here to the placing price.
Badger, they don't have any choice after SteveM laid the gauntlet down much to Colin's distain ;-)
what a drill team and results off the first hole looking really good,onwards and upwards can see a year high coming before long as the interest grows