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Many thanks for the 'recommend, Colin. I'll take that as a 'yes' then...
Even allowing for CB's vagaries and over-optimistic time scales we should hear news this week on the pending contract and the additional income expected from them. Otherwise the chances of realising significant additional income by the end of Q3 will be severely compromised.
Please, CB, keep your eye in the ball for a change and just make it happen. Apart from anything else it would do wonders for market sentiment and would help to kick-start a significant re-rate in the SP, IMO - which could only be good for all concerned.
If you are reading this board, Colin, the time is ripe...
Colin and his incendiary pants I guess
'news of the award of the new contracts IMO - should be any day now...' I wouldn't hold your breath CE. Bird told TW the deal was done 5/6 weeks ago! - Same old story eh!
July :0)
No change in Mozambique border crossing until 29th June,by the look of it..so if we can just queue and get machinery across it JFDI and bird should be pushing it there,if not a long wait
Good morning Caveat
Good to hear that you spoke with Bird pretty recently, if they have $500k cash then that should be OK for now but the market is betting on a cash raise nonetheless. Most of the recent upside was due to the Tom Winnifrith promotion and the Bird podcast from the same outlet.
It is disappointing to see the share price fall back but, for me, the Aussie deal was not welcome, paid for by issuing 100m XTR shares - diluting existing holders right at a time share price momentum was building.
I think Bird is seeking another massive windfall like the one which made him his personal fortune, unfortunately for shareholders he gambles with our (and Galileo & Bezant shareholders) money on projects that may or may not win big.
Having been here an age and eternity I am happy to hold a while longer but it is galling to witness other juniors multi bag whilst we wait for the never ending Xtract story to unfold.
Without any income between now and then, yes, I think the CIB would start to run out around then. But with current alluvial production and the two new streams of revenue due to come on board by the end of September, I think the risk is minimal - I only mentioned it for the sake of balance in my post.
Incidentley, great to see such a rush to buy XTR now that the POG has broken the $1,800 threshold ...not!
I would think that the new contractors will be champing at the bit to get production started with the current POG so the next main SP mover will be news of the award of the new contracts IMO - should be any day now...
Well, its broken out of the range he predicted in the TW interview.
Lest see if he's right about his other prediction that it will fall next year and fall again the year after.
I guess just because he's in the 0.1% who think the same as him doesnt mean to say he's going to be wrong !
Hmmm
Gold just gone through $1800 - And Bird fecking around with Copper!?
CE,so your personal chat with Bird and his no foreseeable cash raise,is around Oct Nov then .
This like a Black comedy !!
I’m in other Gold miners (here and North America) and so many junior Gold miners are doing well. POG very high and likely to go higher. Perfect conditions for Gold juniors…
Good old xtract - SP going down !
I don’t think there will be a raise soon, but I wonder if the big sells could be many jumping out here and into other better performing Gold miners now. FOMO?
I wonder if some think that the very short term prospects are better in other junior miners?? In other words, some may not be confident that we will be getting additional income before the end of this year, be it from HR or other sources.
I’m confident SP will be much higher in 6 months, but it wouldn’t surprise me if SP drifted below 1p. If / when it goes below 1p, I’ll be adding.
tricky one this is now.. share price seems to be coming down in anticipation of a raise soon(ish)...
so if he feels he'll need to raise in next 3 months I think he's nearly better to do in July at somewhere around 1p.. as what he doesn't want is this to continue slowly ticking on down in a vicious circle effect and then he raises in August or Sept at .80p type thing..
all that said, I did my first top up in a good while here just now.. but I made it a - very - small one towards keeping plenty of bullets ready in case I get the opportunity for top ups in the .80 to 1p range.. (I'd build out a good size position again here off the back of any such weakness .... but this could of course rally from 1.05p too, for eg if we get some news that allows punters believe more that Manica FB 'ard is likely to come live in Oct Nov time or cash position remains ok off the back of latest alluvial production..etc)
I am working on the assumption, gleaned from recent podcasts etc, that we should have a relatively stable monthly income of $400,000 per month from November onward. If this does not happen then I will start to become uncomfortable as cash will start to run out, but until then I have the patience to sit on my hands and wait - that sort of income should see the SP up to around 2.5p-3.0p so IMO it is worth giving CB his head and seeing where we get to...
Hello H5O.
Hope you are well
CB told me we got about $500,000 from the alluvials and about $90,000 worth of gold accumulated on site when we spoke a month or so ago, so that will keep us going for a while - also production will be better now that it is back to full capacity and POG is on a spike so I am content to accept CB's word that there will be no fundraising for the foreseeable future.
Of course, I could be wrong...
Well Xtract must be running on air right now, I remain convinced Bird is about to raise cash, he did it last year in July the chance must be high for the dreaded mid afternoon placing RNS.
The share price has been weak for around a month now, usually the time it takes to organise a funding - we will see, if he can get a raise away around 1p -1.1p maybe the share price will then start to move back up to reflect the upcoming news-flow one hopes he will deliver.
Company had £360k on 31st December, they had £440k in December 2018 and placed stock in July - the share price seems to be under pressure recently from scrappy selling with one or two larger chunks of stock hitting the bid, Bird has raised with his chums at Novum for both Galileo and Bezant recently, question is is he about to raise for Xtract.
I think a placing is in bound - thoughts ?