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Allo Ma
Would be unlikely they would drill out Ascot now just to chase 2mt. Better to concentrate on RC open pit with a viable mining study to trigger the AA option.
Luckily BR does have Ascot tho. If RC early payback phase cannot be shown to be desirable enough, for a major to take it on then Ascot could well prove to be the preferred option for the early payback phase.
Ice commented on this scenario
BR project does have that optionality.
>1 billion tonnes with potential of circa 1.6MT CuEq
That also doesn’t include any further resource increase of Ascot until such case as if , or when required or desired for the additional ore.
Dani... who is that comment directed at ???
We are all here to make money which is why some of us with quite large holdings are annoyed. You dont have any reason to take the high ground with us really.
I would hope you can recognise Andrew that my, as you say, “rather optimistic view” is backed up with some logical reasoning behind it that I have offered over the weekend and prior.
We all know that the fundamentals alone will not just simply increase company worth, it is purely news driven with supply and demand of shares that drives up the market cap. If there are no new investors around willing to buy at present that is not going to happen and see any rise sustained.
A polite reminder to all that at the time when BR is ready to approach AA , is likely the resources will have increased to over 1 billion tonnes with potential of circa 1.6MT CuEq after optimisation drilling whilst not including any potential resulting effects of pre-concentration or other resource optimisation.
Good to have opposing views of the LTH’s and us newbies that have only been here two years lol I’m sure we will meet in the middle somewhere when we are grey and old.
Fulmar
You are coming over as an ex shareholder who wants to keep checking that you have made the right decision to sell and move on.
I suspect you are hoping what you are saying is correct as much as anything :)
You may well be proved right...for now !.
Your rather optimistic view could be correct HZ, but having been here many years I can say, with some certainty, CB does not hold back on promoting any form of good news and does not quickly advertise bad news.
With all the incoming CB is getting, and no doubt aware of, you would think it would be highly likely and sensible he threw a bit of Red meat to the shareholders, assuming he could.
"It’s hard to stomach that all assets have fallen short of early expectations "
This is imho is probably what has happened. Mainly because those early expectations by CB, were probably not realistic in time scale, results and output.
1.3mt CUEQ is a big find, but it will take a high POC to trigger interest and a buy. That will eventually happen - but it is what it is
Even to the desperate point of calling JLP his success...! !!. It seems to have done a lot better since they sacked him !
CB helped built JLP up to a 400m MC when he ‘resigned’ as he felt his skills were better suited to concentrate on companies in those earlier stages of their development.
Xtract has no debt or interlinked share structure
I would argue your reasoning Andrew in that it would also be the case that there are no exiting developments at Kakuyu either or any other developments. They could offer an update on feasibility study for plant extension at fairbride or hints of any further acquisitions they are looking into. The radio silence is apparent now at corporate level and not just the pre-concentration study that can be used to sing from the rooftops later when market conditions improve.
It’s hard to stomach that all assets have fallen short of early expectations which may well turn out to be the case, but, until we get those updates I hope to remain positive of the back of all those early expectations.
With FiFi (Find It Flog It) at the helm ? I severely very much doubt it !
WSJ recent vid
https://youtu.be/jP_t1lo0ZgA
What we all want to happen here, will eventually happen, but its going to take a lot longer than CB's timescales !
I've watched with interest for a while recently and good "ole "MaB seems to be desperate to support the rickety scaffolding of Birdie shares with her multitude of personas across the various share BBs. Even to the desperate point of calling JLP his success...! !!. It seems to have done a lot better since they sacked him !
I was told recently by a friend that one of Birdies shares had a chance, and as she admits it's the 10% that succeed that make it worthwhile. Because of the reliant and interlinked debt and share structure ,just one Domino might be enough ! When is the question ? Oh dear FiFi
is it "the emperors clothes" -Whatever -you don't care do you ?
On sky news 20 minutes ago that we will need more than double the amount of copper we're producing right now
and mainly comining from Chile. Yes we do know that but are we finally waking up to the fact. Poised to take advantage. Get ready to do your stuff CB and make a re newed name for yourself.
All that may well be true HZ, but CB said we would have some results to indicate the situation 2 months ago. No one is asking for the final definitive answer to exactly how it improves things, but by now from early indications CB must know more than before he started this initiative.
In short if the early indications had been promising, albeit still with a long way to go in this assessment, I'm sure CB would have given at least a hint that so far, early indications were promising.
Infact with CB's MO, I would think he would be shouting it from the roof tops !
"i feel its nothing to do with pre selection of ore or any other side show but purely the price of copper."
Not in agreement!
Resource optimisation is not so important at scoping or conceptual study level granted, but becomes increasingly more so in showing a good economic development case where NPV/IRR at pre feasibility will be more so important.
Not forgetting the social and environmental tolerances of open pit mining is making it increasingly more difficult in obtaining permits. With mining projects that can incorporate these measures to significantly reduce energy and water consumption in line with AA’s and other industry ambitious Sustainable Mining Plan targets of a 30% improvement in energy efficiency and a 50% reduction in fresh water abstraction. These projects will have a big economic and environmental advantage.
To show amenability of BOS particularly will be a massive plus for a major mining company that has increasingly more responsibilities to its own shareholders and to attract new in lowering their own carbon footprints in a modern changing world.
It’s not for an explorer just to decide, let’s see if our ore is amenable for BOS and hope for the best. It was Optimal Mining that identified that the BR copper mineralisation may be well suited to pre-concentration So there is a greater confidence in positive results being returned.
I don't think its anything to worry about tbh
It looks like the mercenary army are in Africa at the request of the African leaders acting a a private security.
As for Moz......
"Similarly, Wagner Group forces deployed to Mozambique in 2019 to help fight the self-proclaimed Islamic State in the northern Cabo Delgado province. However, the group failed to contain the insurgency and withdrew from the area after a few months. "
Wagner group now left Moz and the Islamic state fighters are in the north east and nowhere near manica. This is nothing to worry about imho
https://www.cfr.org/in-brief/what-russias-wagner-group-doing-africa
A bit worrying that sky news was talking about the Wagner group and how they are in Mozambique amongst other places in africa and meddling with mining operations to benefit Mr Putin. I hope that is not widespread in the country and affecting Manica.
"i feel its nothing to do with pre selection of ore or any other side show but purely the price of copper."
Agreed.
Tbh I doubt the ore sorting prog has worked as well as CB had hoped, as if it had i would have thought he'd tell us or at very least given a hint / indication that we have some good news coming.
Bushranger is just a play on future copper price IMHO.
As negative I have been on CB, and rightly so, I still think we will get a sale of bushranger as POC will, eventually, make it attractive to a major.
Just not sure if that will be in 1 year time, 2 years or even later !
I think those costs are what Colin would like them to be but MMP have not confirmed their costs.
I will listen to that podcast again
Fingers crossed. i feel its nothing to do with pre selection of ore or any other side show but purely the price of copper.
Copper flying though ATM, up 9.6% on the month so far at 8488$, another month at this rate and we will through $10k and into the fun zone that CB needs to if he is to make BR work ( and the results of the study).
No SP movement then lol
>>I like the analogy that they are both waiting but hopefully we have slightly better fortunes!!
The company are clearly riding out the trough until better market conditions return. Coincident that a late unforeseen change in auditor has delayed end of year results. So regardless of market downturn the company would not be able to release any finacial/operational updates post Q4’22 or certainly ongoing strategy for BR without final results as would be very reliant on cash banked and flow projections to base any immediate plans to progress.
What would be the point of results of pre-concentration study being released now for example, if sellers would then negate any rise in share price rise from any positive news as we have been seeing.
Overall sentiment has to change, and those buyers return that are looking for undervalued market caps to assets held, where xtract will be in the position to get the jump on most other, same sector companies as should show self sustainability now with a good news flow to follow that most of those competing companies ‘don’t’ have any main incomes sources to progress project portfolios and are heavily reliant on share placements.
Or alternatively, one could suggest a further raise may be needed to progress BR, this depends on factors such as other projects that are in the pipeline. So a PR drive will require news flow to hit a target price to reduce dilution to shareholders so would be fruitless to waste any news now.
Too easy to be drawn into no news must be bad news.
Just a thought.....
If the German's had communicated using the "Dani code" during WW2, the Enigma machine would have no f@@king chance of ever breaking that code :)
Play the game not the man Dani,.
wink