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Yeah it's a shame to be back almost to Monday aftrenoons price. Investors just not getting the message yet it seems.
Speaking of realistic prices, the sudden drop took place with virtually no selling pressure :)
>> I wonder if Lloyds view on this is typical of many potential investors and could explain why the sp is not higher?
I am sure Lloyd is very typical of private investors. I know I say it often, but most people don't bother with even basic research, such as reading past RNS and checking the latest company presentation.
Why don't you post that on the Tesco BB TDoubleu... including some advice on them all putting the proceeds of their immediate tesco share sell downs in 'ere :-)
(It's II or deep pocketed PI type money we need more of in little ole xtr to get this s/p to the levels plenty are now talking about 'ere)
@1plus1
I think it took a year? for GGP to take off and arrive at it's recent highs. GGP + Newcrest is a planned mine.
XTR is a planned sale CB has made it clear - so i wonder to what extent that difference might drive the SP up on speculation, particularly when supported by a revised JORC, location, majors in the area and an impending super cycle...?
IMO ATB Shorn
IWantThatOne - Colin Bird has been clear from the off that the plan with the Bushranger is to drill/prove it up, ‘tie a bow around it’ and sell it.
Same thing happened with GGP for quite a while. I kept revisiting it wondering what I had missed. It was becoming more and more obvious that they had a seriously valuable resource, yet the market cap did not reflect the underlying value.
More positive drill results, decent assays and some indication of interest from funds and/or a mining major and this will charge higher.
I wonder if Lloyds view on this is typical of many potential investors and could explain why the sp is not higher? A cursory glance at this may not show what is really here and there may be many ‘Lloyds’ who have not done their research.
Hopefully after assays results, Lloyd and many others, will understand why many on this board consider 12 month 30p valuation as being conservative.
It’s worth pointing out that those of us who value Racecourse at >=30p do so in the basis of a buy-out. Having to develop the mine would involve much capital raising and dilution, though even then the end result may be worth it as the profits would remain 100% with XTR. I can’t see that as a viable option though, surely this would be a packaged sale.
Comment of the day = "I've looked at my local independent news agent market cap and realised Tesco is way over-valued, expect a massive crash!"
Hahaha! :-D
Best,
Mr T
>> I mean similar mining companies, have a look and you can see it is unrealistic to value this at 220m.
Could you suggest a 'similar mining company' for comparison? Which ones did you use?
But similar co don't have one of the biggest copper / gold prophy's in Australia.
Tbh I don't think you are aware of bushranger and are trying to compare apples with oranges.
I would like to know your valuation of racecourse?
Lloyd I think you’re not appreciating the possibility of this being a mine containing 2m tonnes of copper. Hard to compare to other mines as not many are that sort of size. Personally I think we need to get beyond the assays to an updated JORC for the share price to make serious moves upward but if that confirms 450Mt at 0.45% Cu or something equivalent then I’d be surprised if the sp isn’t north of 30p.
I've looked at my local independent news agent market cap and realised Tesco is way over-valued, expect a massive crash!
Sorry but 'Look at other mining companies and get a better idea of what this company can achieve.' seems a pretty poorly thought out statement to me. Every mining company is different, Geo location etc, an investor should look at the fundamentals of the company they're invested in.
If anything, based on your comment, and looking at miners in the BR region we should be looking much higher than 220m.....
hard rock mining across the border copper in Africa very quiet so if any of them perk up and gold in bushranger is lots anything could happen.
Comparing other big discoveries with this then 30p seems realistic if the assays come back good and drilling continues to clarify the size
I mean similar mining companies, have a look and you can see it is unrealistic to value this at 220m.
sorry lloyd but it's go nothing to do with other companies. Each company is different, has different balance sheets and assets at their disposals. Would you care to provide any evidence or information as to why it CANNOT hit 30p?
Several on here have done a break down using price of copper, tonnage at Racecourse, etc. to suggest why this COULD hit 30p. Your post is absolutely lacking in any information whatsoever.
>> lower
Could you share with us the calculation you did for the future value?
lower
Lloyd - you mean it should be much higher?
A share price of 30p values the company at £220m, sorry but you do need to be a bit more realistic than that.
Look at other mining companies and get a better idea of what this company can achieve.