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Exactly one month ago today when the decision was made to take up the option on Kalengwa. The payment shares (ca 20 Million of them) should be issued soon - luckily they are tied-in for at least 6 months so there will be no sell-off and, even at the normal XTR glacial pace of progress, there should be plenty of good news between now and then to help convince them to hold on to at least some of the shares...
Bird was very positive about XTR two weeks ago at Proactive - I have added today, I think this is due a bounce, we know lots of news is due and they usually release it early afternoon.
Many juniors are re-rating and XTR looks exceedingly cheap circa £4m m/cap, more-so having just raised a decent slice of cash.
A good time to get in or add IMO.
As much as under 1p was tempting, I can't think about an average down until I know what I'll have left after the Woodford fiasco.
No much volume but a decent rise. I suspect any great news soon and this will double in a few days let alone weeks. I had a decent top up of 5k. What news will be next? Any thoughts?
Doesn't take much to move the SP on these small volumes.
Looks like most of us have decided to keep our powder dry...
Love it Andrew :-)
I don't fancy CB much in a fight though .. so lucky he has Revolutionary Guard Commanders Caveat Emptor and Captain Bob close-by at key times :-)
Ntm
I agree that CB will probably get there in the end. But the journey will be like a drunk man staggering home in a zig zag formation, bumping into things, falling over, nearly getting killed crossing the road, and no doubt getting into a fight :)
LW
Yes, Income timescales are key. That is why I was surprised and a little concerned that CB started the Zambia copper ventures before we had manica income. There is a danger he is taking on too much too soon. A high risk strategy.
more great detail Andrew.. thanks..and the devil is truly in the detail.
'Birdtime' timescales is my phrase of the week LittleWing.. thanks for giving me a right chuckle: So far Colin's timings have truly been for the Birds ...etc..
I still think Colin is wily enough to get there in the end.... although where there is and when the end is, is the rub granted :-)
This is more fund than the casino, but a similar game.
I have been trying to buy this morning with 'Smart' Investor with no joy. I am taking the risk even though I fear the phrase 'reorganise management' is a loose translation of 'we will need another placing to pay our own costs'
Andrew I agree with that. I hope our overheads don't increase too much before we start to bank meaningful revenue and that we have allowed for Birdtime timescales. We don't want that last placement raise to be spent before the revenues come in.
NtM
I can't agree more that he's run out of buy in anticipation credits. Or put another way, we now need actual results not talk of potential results. Worth remembering and noting our actual income levels are broadly the same now as they were about 2 years ago.
Any meaningful increase in revenue from any of these projects should see a big rise in the sp. I think it will happen, but not when CB has implied. He said at the investor show in the spring that he is 'sure' we will get good earnings on a regular basis before year end (See link below). I doubt he will be right on that timescale as well. I hope he proves me wrong, for once.
http://www.ukinvestorshow.com/videos/xtract-resources-plc/
10 mins 20 seconds in
great detail on CB's timeline tardiness in Zambia there Andrew and do agree there should be some buy in anticipation on 'Ard Rock plant build start in Manica.. may not be big s/p progress at start of build would be my guess though.. incremental and subject to smooth progress of that build more likely, I'd guess.. but, on reflection, if the mood music can be changed by revenue from Zambia copper quickly then further meaningful s/p progress early in Manica 'ard rock build would be back on I'd guess..
progress continues to be made in Zambia, seemingly.. but CB has little PI ''buy in anticipation'' credits left at this stage as far as xtr is concerned, alas.. s/p up movement of any sort of meaningful nature will likely mostly be about bottom line accreditive cash generation being reported... and very hopefully that starts to come through in 2020 - or maybe even before, but maybe not either - and continues to come through more plentifully as we go thereafter. I'll probably hold off any top ups here until 2020 now.. unless there's meaningful s/p weakness from current .92p ish.. hopefully there isn't...
Hello CE
Ahhrr but don't forget there are 52 weeks in a year...so may be CB means in the coming 52 weeks :)
I hope that's not too close to the truth to be funny !
Results should start to flow before Christmas - after all, he does repeatedly mention the "coming weeks" rather than months...
On the other hand, CB is not famous for the accuracy of his timescales!
The one thing I like about Colin is that he is not jumping in two footed and taking a methodical route to maximize value by testinh all the ground well before he commits, however this does take a lot longer but is the sensible route.