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Jez - i assure you i dont. quite the contrary.
my ref to making something easy to understand was inferring that it seems there is some misunderstanding of facts, which arent really deniable. I'm not trying to bare an ego nor argue. i also don't say a huge amount most of the time but today was a day lots had awaited and it was started with very positive news. which added to the overall story which is being told but has had a slight pause. the story is a very positive one. am neither trying to ramp or de ramp and definitely not trying to bicker. just looking at the evidence and remarking, or responding in places.
noted though. zero interest in making a "name" for myself. reins attached
'Also, even though it’s taken longer to IP, note the absence of Footrot, looks like we don’t need to drill that anymore to hit 2mt?'
RNS does state initial so FR results may come shortly
First time that I’ve read / noted that Xtract aren’t talking about hitting 2mt, but exceeding:
‘drilling out an Inferred Mineral Resource in excess of 2 million tonnes of contained copper equivalent’
Also, even though it’s taken longer to IP, note the absence of Footrot, looks like we don’t need to drill that anymore to hit 2mt?
JWOZ,
You seem to have a high opinion of your opinion and regard others as simpletons
judging by the language you have used today regarding the thoughts of others.
This board is thankfully free of egotists and gaslighting so could you either rein it in or leave please.
You can't calculate a fair market value without having some idea of the excavation methods required and the costs. I am confident CB is preparing to sell.
Perhaps Icebergs next blog could be titled
"how to put a ribbon on a copper deposit - ready for sale"
where he can use simple words and short sentences to explain to folk here how everything that's happened since December 2020 has been a consistent and gradual walk towards exactly what CB has also stated many many times his intended plan is... namely putting a ribbon on racecourse for AA (or whoever else wants)
@Steve4077
Totally agree with this angle.
The decision to mine clause allows CB to take "control" of the potential sale, "put a ribbon round it" were his words...
Rather than waiting for somebody including AAL to bite by churning out results month after month.
An independent company allows CB to achieve what he has said previously.
If you reflect on the Racecourse journey so far - what bit of the ultimate outcome is CB not addressing ?
Are we more or less likely to achieve the plan of having assets that will interest AAL or others ?
IMO ATB Shorn
yep, totally agree on that one Steve. we just dont know until we are told the truth, we need the truth.
“..If a "Decision to Mine" is taken by ProspectOre prior to the identification of 2 million tons of contained Cu equivalent, Anglo also have an opportunity to exercise the buy-back. Anglo have a once-only opportunity to exercise the 80% buy-back whether the opportunity comes through the discovery of 2 million tons of contained Cu equivalent or a decision to mine."
Ref: https://www.lse.co.uk/rns/XTR/bushranger-copper-gold-project-australia-o7u71uhdwbdy9b9.html
No doubt AA would have a period of due diligence prior to committing to a purchase - meanwhile we’ll be cracking on with the second, much larger drilling campaign which will be adding to the resource drill by drill.
The clocks ticking...
I think we could, in due exploration drilling course, still readily enough get to AA buy option discovery here. If not, a sale for 10's of millions - Plus? - to a mid cap player towards a mid sized open pit operation is more likely than us doing it ourselves imho.. or, at least, we do a licencing arrangement where we get some percentage of revenues/profits a la MMP for Manica 'ard could 'appen 'ere.. altogether, I don't see CB bringing this to production under xtr name (or a new company listed in Aus by xtr type thing doing that either )
indeed Ella, could be. BUT WHEN will CB's hand be truly revealed with the TRUTH of WTF is going on behind the scenes?. Afterall he has chosen to give the cloak and dagger scenario by not given the facts on the assays, timings etc etc. Personally i am much more positive than negative in my view / feelings. I say that as CB's word / reputation / money wouldnt be worth a tinkers damn if he has sold us a PUP. Just get the full truth out there CB, lets stop all this speculation nonsense, its not right and its not professional. Hence no price movement north. This is 2021 not the wild west gold rush of the 1850's.
>> A decision to mine also triggers the AA option to buy.
Excellent point!
From the original Bushranger RNS: "If a 'Decision to Mine' is taken by ProspectOre prior to the identification of 2 million tons of contained Cu equivalent, Anglo also have an opportunity to exercise the buy-back"
As you mentioned, CB may be trying to force AA into an early decision so he can involve other parties. I'll put that in the plus column of my new "CB is in negotiation" theory :)
LittleWing,
A decision to mine also triggers the AA option to buy. Either CB is using this as a distraction from disappointing assay results or perhaps for some reason he wants to get AA to declare their hand in order to involve other parties. The latter suggests he either is not confident of 2MT or doesn't want to continue drilling to get to JORC perhaps because another party has shown interest.
>> I just have a feeling that Colin is leaning this way
The RNS stated that: "An independent firm is being engaged to undertake technical and financial modelling for an initial open pit mine, examining several pit layout scenarios and economic parameters"
That doesn't mean we are planning to build a mine. CB has stated categorically in the past then he plans to prove it up and sell it. I strongly suspect that having the modelling available for a potential mine is for PR and negotiation reasons. He can demonstrate commercial grade and will be in a much better position to argue a sale price with that type of information available.
CB is 77. No way is he planning to start building a mine :)
... if we choose for whatever reason to do an open pit at the racecourse ourselves ?
I just have a feeling that Colin is leaning this way ? The dilution issue that this would entail fills me with dread quite honestly. I just feel that something has changed making selling the resource of 2mT Cueq not attractive anymore ? Unless planning for a cost effective open pit to start mining the resource is the means to make it more attractive to potential buyers other than AA ?