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Do we know how the JV is structured for plant mods at fb?
HZ
They can do both if they are awash with cash and have done all that needs to be done on the main assets. But we have a lot more work to be done at FB to process sulphides and transition ore, exploration of area. We have more work at RC which will cost money.
When we are upto speed with that then by all means buy a few lottery tickets. But you dont buy lottery tickets before you have paid for more essential items and paid the bills!
Meant as a light hearted comment and not provocative btw
Can they not do both Andrew? After all the core business is split between being a gold producer and an exploration company. Should they stop the silliness and only concentrate on one or the other? Developing current assets whilst pursuing others is a normal approach for any explorer, and at the core of their key strategy for growing the business.
I've only got 280k but at a 5p average, that, to me is a decent chunk of the kid's inheritance
Understood Andrew
3Card
I wasnt saying it was likely to happen. I was giving my views on why he's doing what he is re the "treasure hunts" approcah
I agree, I dont think its likely to happen...which is why he should stop it and focus on the boring stuff !
"At least 5% of the total voting rights of eligible members, or at least 100 members representing an average of at least GBP£100 each (GBP£10,000 collectively)."
5% of 856M = 43M
We easily have that number amongst our holding.
One possible approach would be to communicate to CB of our intentions prior to the AGM - which must not be that far away? 2 months? Even if its communicated via roast boys as no xtract emails are acknowledged.
If this warning doesnt work and progress not made then this issue it escalated. We must at least have 10% of company from TG and LSE combined.
That would be my approach. Final warning. Then action if no improvement.
We need a coordinated approach at the AGM all singing from the same hymn sheet as one.
Re "He wants to find another Kiwara before he leaves the stage and knows he hasnt got that long left. He's taking greater risks to deliver that big one."
Andrew, that was 14 years ago. His one and only success. He has grown richer since almost entirely at the expense of long suffering shareholders.
I would suggest there is a far greater chance of him retiring within the next 2 years than hitting another jackpot. But I live in hope.
Hope Q uint is not a swear word
think *****ain was freelance?
the project would still be managed, would assume jeremy reid is still in the position.
"At least let’s wait and see where BR sits first. Remember it’s an experienced geo management team that have been pulling the strings in oz."
I'm not so sure that team is still involved for XTR.
At least let’s wait and see where BR sits first. Remember it’s an experienced geo management team that have been pulling the strings in oz.
In all honesty, I was expecting another raise to see the last push at BR toward the AA option. To have announced they will not need one, pending results from production continually operating within its expected parameters I guess, so whilst it’s frustrating having to wait for results of ore sorting and other pre-concentration options. It can only help to allow time for more income to be banked.
It may point toward the thinking that the 5.6p and 8p warrants that are still active until end of October, the target prices are not ‘too far’ out of reach if a PR drive is planned with pre-concentration study, updated conceptual study with Q1&2 bankable cash. That’s a decent array of news.
Kakuyu is looking to be seeing a methodical process to show its feasibility, are clearly not just diving in.
But ultimately a progressive stream of new projects that fit the ‘description’ in their strategy for growth, are necessary for diversification, the future longevity and continual growth of the business.
Safeguarding the future of the business should always come first and foremost wether Colin bird is at the helm or not.
Gixxer some info from the web about getting a shareholder resolution on the vote at an AGM.
At least 5% of the total voting rights of eligible members, or at least 100 members representing an average of at least GBP£100 each (GBP£10,000 collectively).
So maybe 100 shareholders, or less if our holding adds to 5%, I think CB couldn't ignore that call. The XTR telegram group has over 200 member, and I think lots are disillusioned, even with the roast guys now.
Use telegram, set up a new board and share it on here.
Would any of you be interested in getting a group of us together to discuss where WE, as shareholders, want the company to go and what we want to do about Bird et al?
if there's enough SH interest, say, at least 50m in shares we can actually make ourselves heard.
If there is interest I can maybe set up a skype call before the AGM so we can get organised - Just can't go on like this!
"It's time to focus on moving the current assets forward and deliver some value for shareholders, not looking for new ones. If he can't do that he needs to step down, or be voted off, the next time he's up for reelection at the AGM."
Completely agree. We need to get some kind of consensus around this.
Any way we can put a motion in before an AGM about no new acquisitions and focusing on FB/BR exploration?
It would be nice to interpret that as such and a reassurance that he has learnt from his past mistakes.
Problem is, its probably CB trying to justify his next lottery ticket buy to us , and implying that....
"this time it will be different. No really...honestly guys.... I promise !"
"and shareholders can rest assured that management will not make hasty decisions to acquire new inferior projects."
Is that an apology for all the previous inferior projects that are reflected in the SP ?
>>He wont change now. He needs to go.
Fully agree, Bird has literally blown 10's of millions through cash calls since he's taken over from JN and what do we shareholders have to show for it? - Nothing.
Now himself and his mates have made plenty!
"I just think the man's a compulsive gambler, and using our money to fund his addiction"
Exactly.
He wants to find another Kiwara before he leaves the stage and knows he hasnt got that long left. He's taking greater risks to deliver that big one.
He probably thinks focusing on and progressing FB is just too boring and not exciting enough.
If he wants to keep buying lottery tickets then he should use his own money and not ours.
He wont change now. He needs to go.
They've said they think they don't need to raise funds for the current assets, but I find this statement from the RNS a little worrying.
"We intend to maintain the profile if results allow and only seek cash for new acquisitions"
I just think the man's a compulsive gambler, and using our money to fund his addiction. Everything he buys is the next big one, but then turns out it's not quite as advertised. it's then hidden in the cupboard, with all the others, after having loads of our money spent on it.
It's time to focus on moving the current assets forward and deliver some value for shareholders, not looking for new ones. If he can't do that he needs to step down, or be voted off, the next time he's up for reelection at the AGM.
But no-one who posts here has an agenda, right? Guys?
Hey joey
Xtract will not be intending to mine as you have said. The ‘decision to mine’ is just a term used in the buyback agreement along side 2mtCuEq as targets that Xtract are working toward.
One is just target size, the other, now the preferred option is to show an economically viable mining model at PFS level.
One or other will trigger the buy back mechanism, a pre determined process that a value of asset will be reached if AA decide to take up their option to buy back in. Or subsequently not decide to, where xtract will be free of the legally binding agreement and can offer the project to the global market.
With the desired outcome being a 100% asset sale regardless.
The company have announced that they ‘don’t’ foresee a fundraise in the next twelve months to advance the current projects.
Can tolerate the cheeky cross ramping out you taking the p155 now and of course your opinions regarding Colin Bird are just that, but please dont spread misinformation on a company you clearly don’t know much about now.
You are now coming across as rather intolerable to put it mildly.
NB, the below musing, is based on Colins statement, where he says:
"At this stage we have minimal intention to continue the Eureka Project and the Company has therefore impaired all costs relating to the project."