The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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"Quite why they think that they possess the necessary understanding to avoid losing money is beyond me as they quite clearly have lost out. They remind everyone of that fact on a daily whine crusade."
Many here didn't have detailed knowledge of the company/industry. They made the mistake of listening to and trusting cb. Expensive mistakes and now you come along and tell us cb is working hard and should be trusted.
Cb has a credibility problem. Yours is even bigger.
Backtothesoil. It demonstrates the importance of timing particularly when dealing with an opportunity such as Bushranger. Clearly there are some gaps in the understanding of that fact amongst a few on here. Quite why they think that they possess the necessary understanding to avoid losing money is beyond me as they quite clearly have lost out. They remind everyone of that fact on a daily whine crusade.
>>The biggest positive regarding XTR is the hard work being done by Colin Bird and the board on shareholders behalf.
Alastair (sorry OSV) - It's interesting you keep praising the 'hard work' of the BoD especially when, in the most recent interview, Bird himself stated that he had nothing to do with the good progress at Manica. (A reminder; the project is 6 years behind Birds forward guidance)
Furthermore you note how you 'trust the board to deliver on our behalf' - It seems the BoD don't share that same trust in the company as it's only Bird that has actually ever bought shares in the company.
That must have some sort of school that has produced somebody who regards a price drop of over 70% as encouraging.
I know why I'm here and what I expect and expected.
I still think I will at least get my investment back hence the reason for still being here.
Unfortunately your "good education" hasn't made you a better person it seems.
No doubt when we have an improvement in the SP you will be taking all the credit for it as you come across as a "I told you so" type.
Mr Jezzoo. Unfortunately for you it appears that it is your school that has produced the bizarre situation that keeps you invested in a company whose board you do not trust, in a chairman you do not trust, and building up value that you refuse to acknowledge. At least my education has given me the tools to recognise a good thing when I see it.
Backtothesoil. The chart looks like a wonderful opportunity to me ? A good education no doubt helps me see that.
Does Kwack have bi polar. We seem to have gone from one extreme to the other. Regardless of Racecourse, a gold producer being valued at approx 2 x earnings deserves to have questions asks. Why have bulletin boards if you can't discuss?.
OSV. Before you begin to pen another eulogy to CB and his hard working board, just have a look at the share price chart over the last 2 years and then write your eulogy. You will see the results of all that hard work.
Mr Stooge. You said
" The biggest positive regarding XTR is the hard work being done by Colin Bird and the board on shareholders behalf. It never ceases to amaze me how much those with least knowledge regarding their shareholding constantly stamp their feet the most."
Let me point out something to you. You are the kind of person who thinks they know better that others. This is despite the fact you are only able to generalise and fail to demonstrate any knowledge on the subject of XTR.
You come across as a boorish lazy person who actually believes that ramping the company without any facts is enough to convince others of your superior business accumen.
If I am the spoilt kid, you must be the only child product of a public school education, your entitled pompous attitude leaps off the screen.
You are fooling nobody.
Mr Jezzoo. Let me explain something to you. I am one of the many shareholders who trust the board to deliver on our behalf. You on the other hand are like the spoilt kid at xmas throwing a tantrum because you didn't get exactly the right toys in exactly the right colour. You just want all the toys delivered yesterday straight to your pram. The biggest positive regarding XTR is the hard work being done by Colin Bird and the board on shareholders behalf. It never ceases to amaze me how much those with least knowledge regarding their shareholding constantly stamp their feet the most.
Two good posts Howezap, maybe OSV can take a leaf out of your book and be able to post an XTR positive post with substance and not mere sycophantic drivel.
Actually l understand we as investors need to do our homework but it is his responsibility to make things clearer. He is leading the company and l understood by his own doing that hitting 2mtis very real. I.e. if l was learning to drive its upto me how but am guided by the instructor. If he does read the board he should know he needs to do better. I will praise him when my investment increases as that alone shows me he's done us ok. Yes it takes time but be more responsible
>>Colin Bird is no longer providing his podcasts to help them to understand better.
Don’t mean to be cynical, but it’s not his job to help investors understand. Although he has repeatedly stated it’s far better to, and is of greater value to show a viable mine than chase 2mt.
The drilling objective of 20k metres to delineate 2mt was simply based on crude assumptions that the increased ore body was of the same grades as the higher grade original resource. They had every right to use this as a PR hook as I’m 100% sure the geological team were well aware of the expected peripheral grades in RC. In fact the conceptual study is pretty damning in stating that,
“Optimal believe that the economic recovery and processing of ore with low grades between 0.1 - 0.2% Cu is pivotal for the economic viability of the Racecourse project”
While the number crunching is ongoing there is nothing more that CB can report or point toward while they still have optionality to progress the project toward that AA option.
OSV >>>Why is it the fault of the board that they didn't understand the steps needed to monetise a resource ?
I fully support this view, it’s not common knowledge amongst most pi’s what steps and hurdles have to be overcome to get a project de risked. These low grade huge tonnage porphyry deposits are no exception, demanding a lot of work by their very nature and size. They don’t come around very often and to see one pop up on one of the UK indices is still rare.
I’m sure the management team would love to maximise Bushranger size if they had a bottomless pit of cash , but the company recognises the value of fast-tracking the deposit to show a decent NPV and an attractive IRR to put in front of AA. They will do whatever is necessary to tweak the NPV model from an abundant resource and through optimisation until a desirable result is achieved which is not uncommon to do. It may or may not require more drilling but they will only do what is very necessary for now.
Whatever folk think of CB and how he has handled the PR, it does not mean that BR has fallen short of company expectations. Far from it, the grades, tonnages, economic cut off grades, metallurgy recoveries, strip ratio tolerances do compare to similar low grade bulk tonnage projects. Although every project has its positives but all are distinctly different. You only have to look at Aitik’s grades in Sweden.
It’s all about what can be economically recovered, and to have it in a safe country that is a mining nation with a supportive government all adds weight behind being a desirable asset.
OldSchoolView
I bought into Xtract following the April 2021 fundraising in the hope that the route to monetisation was going to be more straightforward and faster than with most discoveries. After all
“ . The objective is to delineate the necessary 2 million tonnes of contained copper which is the trigger point for the Anglo American buy back option.”
Having not achieved the 2MT contained copper, it is now more difficult for me to understand the route to monetisation as I have not seen the definition of “Decision to Mine” in the Prospect Ore / AngloAmerican agreement. Perhaps the Board has shared this with big investors to help them to be patient, but private investors are left in the dark, and Colin Bird is no longer providing his podcasts to help them to understand better.
MB, got nothing/nada , try twitter .
Re post 1345hrs
Let’s hope so, with all the worldly assets we are sitting on something has to give.
GL
Gibberish....
Wink......
I think it will stay around 1.5p until a few days before the AGM
That's when CB will issue an RNS about something positive to save an ugly scene at the meeting.
Maybe go up a bit on the back of it.
Time will tell.
What are we waiting agm 27 july? I need to AVG down from my ugly 4p AVG ..where do you think the bottom is ? 1.3/1.4p??
The more he posts, the more he sounds like Ole CB.
Or a stooge.
>>many small pi's heard what they wanted to hear and got carried away
hmm, sounds just like bird trying to gaslight shareholders after his bull-**** was finally found out..
if you're behind this bird, it's not doing you any favours before the agm....
"The large shareholders who understand what the board is trying to achieve are quietly waiting for the board's hard work to deliver a successful outcome."
Most of them left as the drilling results were underwhelming, and cb's optimistic bullsht was exposed as just that.
Oh so you're a BIG investor too OLD !
Lets see how patient you are when you are still trying to get a profit out of XTR after 10 years.
Recently bought in types are typically full of it.
Many small PI's heard what they wanted to hear and got carried away. Why is it the fault of the board that they didn't understand the steps needed to monetise a resource ? The large shareholders who understand what the board is trying to achieve are quietly waiting for the board's hard work to deliver a successful outcome, something some smaller investors seem incapable of doing. Patience is needed but not all seem capable of that.
I’m afraid that I disagree with OldSchoolView. Colin Bird confused observers by presenting them with a plan rather then the facts. His forward guidance has turned out to be somewhat misleading so personally, I don’t trust the Board. But I’m optimistic for the price of copper