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Thank you for your kind offer to print out in parts the Mining Journal article yesterday on XTR.
Cyberiashas [sorry if I spelt it wrong] has done a 2 part print out which this forum has read. If there is more to it, then it would be great to read. It is norm that when an industry journal writes up a story, they dont just take the RNS/interview and repeat - they will want to speak to the CEO and confirm everything. More importantly, they will want to have SOME ORIGINAL MATERIAL FROM THE CEO ie any elucidation that the mining industry would want or like to know.
At the momo, there is activity in the Lachlan Fold as a lot of co*s are trying to find the NEXT deep hole like BODA, Cadia-Ridgeway, North Parkes or Cowal. Of these, only BODA is North of Cadia and NOT in the TRANVERSE LACHLAN FOLD ZONE. My goodness, everyone will want to know ABOUT COLIN BIRD*S BUSHRANGER as it is NW to Cadia-Ridgeway and in the same LC transverse zone.
I also read that Newcrest wants to produce COPPER from Cadia-Ridgeway although they did not give any further details.
So, XTR*s Bushranger-Racecourse is in the right place and at a time when copper is needed given what Newcrest said.
So, Shorn if there is anything that Mr Bird told Mining Journal that we have not read, it would be good if you could print the 1 or 2 sentences out.
I cant paste the link as....
Fri, 5 Mar 2021.
Lets hope so Steve...
I think news next week will be better received as the markets are muted today at best
All the best to all holders here .. Probably the best Aim explorer...miner to in at the moment
Bitcoinbuyer - I think that is copper ore (not gold) you are looking at in those core sample pictures. My understanding (happy to be corrected if I am wrong) is that we are hoping to find approximately half a pea of gold in every tonne of ore, that is unlikely to be visible to the naked eye (when looking at the core samples) and why the H1 RNS didn't give any gold estimates from the handheld machine (not going to be accurate enough).
What we do know is we have something that is at least similar in size to Boda and the handheld copper readings from the core samples indicate more copper than Boda. If that is confirmed by the assays, then we will inevitably see the market cap move up into Alkane territory. If the thing is even bigger, with higher concentrations levels of copper and gold (as CB has alluded to and hole 5 may evidence), then the value of the find will be significantly higher.
I personally think H5 could be the game changer here. If H5 indicates more in terms of both quantity and quality (i.e. multiple porphyry's and therefore more rich cores) then it is genuinely possible that we are sitting on a 10 bagger based on the current market cap. Nothing guaranteed but I feel like I've found the out-and-out favourite for the Melbourne Cup and the bookies have given me 10-1 odds by mistake. A once in a lifetime opportunity to make some serious money... I've lumped on.
Sorry just realised it's a PDF, and that the Mining News is a subscription magazine.
IF folks want i can cut & paste the text over a few messages.
Let me know if it's something that we have not seen and want to share - otherwise i wont fill up the board with reams of repeat data.
Is this what you were looking for ?
(Sorry if it's a repeat piece of data)
Dr Quinton Hills
Among many other things:
"Exploration Manger and Interim CEO:
Avalon Minerals Ltd
"IDENTIFIED THE D I S C O V E R Y ZONE OPPORTUNITY THAT BROUGHT $200M VALUE
to the project NPV." Etc increase resource size and grades etc etc
Supervised exploration team and consultants.
Society of Economic Geologists."
So, has experience and not just a theorist?
Thanks News ,
I didn't realise Doud Menzies was still worming for them. When you say about the other name I do now recall that I did see another name recently who was also a geo.
Also, it is said in the RNS from recall that Doug Menzies has been engaged by XTR.
In another interview, Mr Bird said Jeremy Read, formerly Head of BHP Australia and Africa will work with Doug Menzies to do the modelling and planning of holes. Doug Menzies is from Corbett Menzies, a specialist consultancy in mining based in NSW, Australia.
Also, when the recent RNS was released about 10 options, names were given of the directors including Mr Read and then under EMPLOYEES, one name was given in full, that could be the young geo as no one else was named by special mention other than this name.
I didnt not check Linkedin as I had no time to find out who this was to confirm if or not this is the young geo?
The Phd Geo is Quinton Hills who has KCB knowledge that GLR intends to utilise.
If you listen to all the interviews on Sharetalk since Dec 2020 BEFORE the drill started, Mr Bird gave this info about a PhD. Gixxvix checked Linkedin and gave the name of the PhD Geo as he said he also works in another Bird co.
As for the young geo, that is also from Mr Bird.
As for Doug Menzies, Mr Bird said in one interview that the expert on the Lachlan Fold will give his opinion. Subsequently, Mr Bird told us what Doug Menzies said and 2 people on Twitter did GiF*s on what Mr Menzies said.
In an RNS, Mr Bird said that Mr Menzies said that Bushranger is a fertile hydrothermal system and about gold more than copper kinda of thing relating to the geology.
From the pics of a man holding the core from Racecourse, I did not know who he was. It is logical to have a young geo because they need a supervisor and a geo is better than a non-geo.
So, all very logical as the PhD may not be 100% of the time on site as he needs to look at other projects as well or at least to see very casually to others?
I realised he had been involved just didn't realise that he still was.
Thanks for reminding us of this statement Leo. ‘transgressive phreatomagmatic breccia’ as I have researched previously are known as THE GIANTS OF THE PORPHYRY WORLD.
Excuse the capitals but this is worth emphasising.
"Mr Doug Menzies, Consulting Geologist and local expert in porphyry copper-gold deposits within the Lachlan Fold Belt said: "The extensive chalcopyrite-pyrrhotite mineralisation, potassic hydrothermal alteration, and associated geological features such as a transgressive phreatomagmatic breccia, suggest the Racecourse Prospect hosts a large fertile porphyry-related hydrothermal system."
I'm curious - how do you know Doug Menzies and an additional young geo are working in this? Not being critical of your post I just wonder how you sourced the info.
There is a point I would like to make:
In the few stocks that I have seen and experienced, folks have done their own interpretations which turned out wholly wrong eg Havieron. After just 9 HOLES, then it went quiet as folks said NOT good enough although Gervaise Heddle said the industry phoned him to say x, y or z ie good messages. One in particular said, what 2m or 1m at 0.2% cu-not commercial etc. Another said no one bothers unless it has PFS at the very least. In Australia, one geo said he was going to report NewC to the Australian Stock Exchange because part of the intersection was at 0.2% cu which is not good.
Then, one morning, up popped the Newcrest JV RNS. It shocked the life out of people.
However, just before this, out popped an article in THE AUSTRALIAN about the biggest discovery out of Australia for some time @Havieron. Folks never caught on. Apparently, not only was NewC the only co, it appears in some articles, even Rio was interested but in the end, they may have got a bit of a sweetener.
I cant recall but I do not remember Mining Journal breaking the Havieron story first but rather The Australian which DL said it was their biggest Aussie paper.
I think we may underestimate Colin Bird although I dont given that I have seen the way he has tried to educate, as in, confirming many things about porphyries and getting the expert, Doug Menzies to give his opinion. Also, to get Mr Read in from ex-BHP Head of Exploration Australia-Africa. Then, on board is a PhD Geo and another young geo. So, at least 4 Geos on the job and Mr Read and D.Menzies doing the MODELLING at Racecourse.
What was said in the Mining Journal today quoted from Mr Bird is a "BIG CALL" ie discovery of global ....and a forerunner etc + its Big.
Mr Bird said he like to read what people are saying and therefore he will be well aware that he will be asked shortly given his big calls and thankfully he has 4 geo*s on board which is rather unusual. Usually, there is 1 geo and a consultant. Here, one has Mr Read + Doug Menzies leading a team of 4 geos altogether which is not usual from my past experience. So, they would need all the experience to steer RACECOURSE with data to satisfy all the subsequent calls they will get.
The good thing is that with Mr Bird*s interviews, people have understood more than the Havieron crowd given it was not explained to them. Everyone knows now that 0.2% cu will be in a small part of some or a few cores which is common place especially that is seen at BODA -see Pete Panda*s tweet with detailed intersec and grades.
I do not know how this Mining Journal Online will now play out. Certainly, Mr Bird said he wanted Australians to know about BUSHRANGERS. Whilst Aussie might not yet know, nevertheless, it has moved on to more established press. Mining Journal did subsequently cover Havieron but not in such a big call way but a more normal reporting of the RNS results.
So, what surprise Mr Bird has may surprise or
I don't agree with your price predictions, but I'm keeping mine to myself.
We will get "Fair market value" for what we prove up.
Honestly, it could be more, it could be less, but it will be what it's worth.
I am going for next Wednesday 10th to Friday 12th .
I think the assays will show higher gold than Cadia.. Similar to Boda .. Pic and Assays on the Alkane Resources Website.
Have a look at Alkane share Charts Shot up to 1.6 on the discovery October , November 2020.. Double share price.
maintained same price during assays over 8 week period .. Now down to all time low 0.68 in just 3 months.
They are firming up a Tier 1 discovery by spending on 20, 000 m drilling campaign
They have spectacular cores showing gold on their website.
They have another producing gold mine so income and have a market cap below £200k
Oz listed so investors more familiar with values.
Arguably they are further on than Xtract and have mega assays with gold .. Same depth and size.
The only thing XTR have is a much lower market cap ... a quarter and AA Buy out clause.
What investors need to decide is at what point is the share price going to drop back like Alkane...?
Share price will not drop back if we get confirmation AA are interested.
If we get good assays mega size but no buyer will drop back from the highs by more than half of the peak
But from what peak price.... My thoughts
Drill 5 good length and report static 8p ish
Good assays hole 1 with higher gold 12 to 15p
Then general decline retrace to sub 10p
Then with Good Jorc for all drills to meet AA requirements 12p
If we sell for market price 20p plus
Still all to play for little to lose but not plain sailing
I have averaged down and and have a free carried holding for the remainder of the journey.
Hope this helps an honest and conservative view.