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Steve, thinking about your post from yesterday.
I have been looking at some of the other AUS co's as they have come up in conversation from other posters (HAV for example).
I notice that ASX listed co's bend over backwards to provide much more detail in their RNS (and some LSE co's as well) i.e 3d drill plans expressing exactly where the reported hole and it's context.
For not much extra effort the RNS could do that.
So why not ? Why add so much more into the interviews which very few PIs and others will see?
It feels like there is an effort to keep bushranger low key right now, perhaps part of the strategy leading to decision to mine and take AA out of the picture ? Maybe it's just how small co's approach things and nothing more ? Food for thought....
Still a low volume of shares traded today, there were some chunky sells £20k couple of £10k, yet the share price held up well. Not long ago this would be moved down 5% on a £500 sell, does that mean the MM know they have a buyer?
They quoted to take 600K shares from me this afternoon, and offered the same price as 100 shares. Found that a bit strange after the large sells, I was expecting no quote.
dogefather - I think it is simply that the RNS that present the conceptual open pit to the market was completely uninspiring without the context provided by the webinar that followed... which I suspect was only watched by the already invested. Nor have any of the RNS's since had anything in them to make investors take a closer look.
I think it's going to take a really good assay result to come back (Ella's gold maybe) or a TR1 to jolt the market awake to the opportunity.
Volume has dried up. We should be trading above 5p with increased volume. What's going on? Investors/traders seem to have turned their back for this little monster. Any reason?
I thought they were achieving 70 m/day..... which would put us close to depth now but maybe not quite there yet.
Im guessing Monday RNS.
And Steve
Thanks CE missed that nugget.
It was confirmed in a recent podcast that the drills are turning 24/7.
Hopefully their 50m/day pace will increase a bit as the previous company managed 70m/day.
As these two drills are at a much steeper angle I would guess they are testing depth - so could be quite long drills that will keep going whilst there is visible mineralisation - so maybe no news before w/c 15.08?
Xeiger - It was confirmed in one of the last interviews that the drill team are working shifts and doing 24 hours a day.
When I say day I think I mean 24 hr period. I don't think it has been clarified for this drilling co but we know the last co was doing 2x 12hr shifts and the meters per day is in the same ball park so we can assume ?
We got the RNS on the 2nd which stated 202 metres depth. If they stick to approx 650 metres and the hole was steeper then we could see something Tuesday assuming 50 metres a day? And then perhaps another the following Monday ?
It is very difficult to estimate how long a drill hole will take to finish as each hole may be different, the team may have problems or extend beyond the original depth/length.But working on just under two weeks per drill hole (based on the second drill started/first drill finished) I am not expecting a BR phase 2 drilling RNS until say mid next week. Anyone else have different views?
Experienced Project Manager and now they are looking for his replacement on the board to be finance focused.
If you ask me they are seriously aligning themselves with delivering the open pit as Xtract. It could all be for show..... but equally........it could be the plan
H202 - What news are you expecting? Don't think we'll get news of another Bushranger drill hole finishing until next week (unless they have really picked up the pace). Some good news out of Africa would be most welcome though.
Expecting mid morning RNS anyone today?
I suppose a decision to mine might call AA’s bluff i.e.test if they are really focused on their own mines and not M&A’s. If that is a bluff though, I’d expect XTR to drag things out whilst they sunk more holes and got more assay results because we’ve not done enough for an independent valuer to factor in the potential (which we’re all betting on) and we’d end up giving it up way too cheaply.
Would love for that saddle to be all fat and juicy and confirm the viability of the proposed open pit. That would be a very nice base on which to build the SP.
My latest theory....
We find oodles of gold
Xtr uses decision to mine to take AA out of the picture - not sure what would constitute a decision to mine...
Christian Cordier (who received shares as introduction fee for Bushranger and appears closely linked to CB) joins the biard
From his linked In
'During my career I had considerable involvement and investments in both public and private mining and exploration companies for over 16 years. My portfolio includes joint ventures with major international mining houses, investments in listed companies in the United Kingdom, Australia and Southern Africa and in private mining operations. I have extensive experience in sourcing natural resource projects and nurturing them through the value curve by packaging and arranging venture funding, managing the permitting and exploration process, negotiating off-take agreements and the formation of strong management teams. I am a qualified accountant with experience as an Executive and a Non Executive Director of listed and private companies.'
His main task is to broker a deal for Bushranger... with Newcrest??
mmmaybe but " we don't need to buy" is exactly what football managers say when they pretend they don't need a defender, midfielder and 2 x strikers (like my team do :(( )
otherwise it just drives the price up
shareholders will always welcome good acquisitions done at a sensible price
If they buy ours it will be their own mine.
Was going to post this link which no doubt you have all seen in the news https://www.reuters.com/business/energy/anglo-american-boosts-shareholder-payout-41-billion-first-half-2021-07-29/
Here's hoping some of their cash comes ours way.
Also noticed this right at the end of the article
"Anglo would focus on investing in its own mines and projects over mergers and acquisitions, Cutifani told a results call."
Hmmm not what I wanted to see !!
Xtr were definitely using a handheld XRF. A BB gun compared to Newcrests AR-15.
Fraser McQ of Newcrest also said they love to JV and work with junior partners - and anyone was welcome to give them a call to discuss their project - but I think Mr Bird does not want to give away a large chunk to a big JV partner - wants to prove up resource and sell on. On this occasion think he is probably right. What he could find is though it keeps growing - requiring further drilling. Then they have to decide when to sell.
I was watching the NCM presentation the other day with much interest - mainly due to heavy investment in GGP.
Was fascinated to hear they had their Truescan XRF scanning facility on site at Red Chris in Canada since they started exploration drilling - and has been great in allowing them to make real time decisions rather than waiting on assays from lab.
He said they were also deploying one of these at Haverion (although they have double the rigs drilling there than at Red Chris) - and some seem to think it may have been on site at Haverion for while already (spotted in a photo).
I know XTR have also had XRF scanning on site - buy could be hand held? Don't know.
Anyway - there is no doubt Newcrest are a world class underground miner. And they know an awful lot about Porphyry systems - and Cadia is a phenomenal success story.
NCM and Cadia is the reason I bought here - when I saw this tipped by Bitcoiner and did some reading - as usual my buy in point was too soon have bout in the 5 and 6 p's - but happy to wait and relatively confident.
But I have to admit - although already in deep at GGP - and fortunately well in profit - I am even more confident in Haverion turning out to be a large Tier 1 mine - but deep mines tale a long time to drill and prove up - what XTR have is shallower and open pit potential - and hopefully will be quicker to get to full value.
Agree Steve,
Although Cadia didn't get much of a mention due to it being exploration focused they very definitely want projects to let them make the most of the infrastructure they have in place. Their comments on underground mining also seemed quite pointed - I thought they would have expanded on the costs a bit further.
Ella - It seems almost impossible for Bushranger to not already be in their sights.
Comforting to know that the big boys are also struggling with getting support staff, drill rigs and timely assay results!