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There was a small UT at, or up to close yesterday which the bid and ask were raised for no real reason to close level after a 5% drop most of the day. So the apparent drop today is not as much as it would have been. 2-3%
May explain this mornings drop Docit
Yep could be the reason. That would make XTR quite an atractive at this point.
Docit - just look at the price of copper !
A hefty decline reaction considering only five silly transactions. Is there news to come that might not be in favour, i ask. Maybe lack of news might be the cause.
As he notes CB is most likely to add value in Winter, I feel - semi - comfortable in saying Happy Christmas -seriously - in advance to Kwaduko !
Have you been let again?
As said before, why does Colin Bird companies seem to run into so many 'problems'?
JVs that fall apart, sales that never happen, targets that are never met?
At best, it is a show of incompetence and poor due diligence. At worst....
BZT is now worth less than 10% of the SP when Colin Bird took over.
So far we have had a JV in Cyprus- got called off after a dispute with the partners
We have exceptional hand held machine assays from Kalengwa (which XTR is also active in) which ended up being bull**** in the lab
We had a JV in Phillipines- which fell apart
We started our first drill in Nambia f(for copper & gold) 2.5 years ago. There is supposed drilling going on but we have had 2 or 3 sets of small assay results in the last 2 years. Colin has indebted the company with a £1 million loan last year which he said was going to be primarily for the Cyprus JV which fell apart. He has done another round of placings last month which has obliterated our SP. We have no idea how we will pay this £1 million loan as we have no cash generating projects in the horizon. No doubt he will issue another round of placings which will take the SP to 0.01 (it was 0.5 when he took over).
When he comes to a a dead end in one project, he just seems to find another one to ramp which needs to be worked up from Level 0..which means more placings and SP destruction and more importantly- which means he continues getting paid and continue whatever lifetstyle he is leading in UAE. You saw the same with XTR, when OZ was running dry, he started ramping Africa
But he can only do the same thing for a certain amount of time. All ramps fall on deaf ears now. He may end up indebting XTR with a similar sort of loan that he pulled on BZT.
Be very careful
Colin Bird’s AIM record (as of mid May 23):
Time he became CEO of BZT- SP 0.5….now 0.04 >90% fall
Time he became CEO of XTR- SP 10...now 1.8 >80% fall
Time he became CEO of Galileo 7.38...now 1.2 >75% fall
And no, this isnt because of a bear market. Even during the peak of the COVID market bubble his companies were below the SP when he took over.
So we can see that investors have lost ££ putting cash in his companies but does anyone know how much money he makes from his AIM ‘companies’. Ive looked at some company accounts and it seems very opaque how much is spent on salaries. All I know about him is that he lives in UAE {which is tax free) and has a penchant for racehorses.
This seems very optimistic. If you look at the record of COlin Birds companies
Round after round of ramping falling by placements. One foot forward, one foot back. Target after target missed. Then there is the summer hiatus when CB goes quiet because he spends our money in Europe on a nice long holiday.
ANything that will happen, will happen in winter.
Colin Bird’s AIM record (as of mid May 23):
Time he became CEO of BZT- SP 0.5….now 0.04 >90% fall
Time he became CEO of XTR- SP 10...now 1.8 >80% fall
Time he became CEO of Galileo 7.38...now 1.2 >75% fall
And no, this isnt because of a bear market. Even during the peak of the COVID market bubble his companies were below the SP when he took over.
So we can see that investors have lost ££ putting cash in his companies but does anyone know how much money he makes from his AIM ‘companies’. Ive looked at some company accounts and it seems very opaque how much is spent on salaries. All I know about him is that he lives in UAE {which is tax free) and has a penchant for racehorses.
There will be no sale so dont bother spending energy thinking about it
Colin Birds companies go sideways, not forward
Colin Bird’s AIM record (as of mid May 23):
Time he became CEO of BZT- SP 0.5….now 0.04 >90% fall
Time he became CEO of XTR- SP 10...now 1.8 >80% fall
Time he became CEO of Galileo 7.38...now 1.2 >75% fall
And no, this isnt because of a bear market. Even during the peak of the COVID market bubble his companies were below the SP when he took over.
So we can see that investors have lost ££ putting cash in his companies but does anyone know how much money he makes from his AIM ‘companies’. Ive looked at some company accounts and it seems very opaque how much is spent on salaries. All I know about him is that he lives in UAE {which is tax free) and has a penchant for racehorses.
“It was Investment, not Corporate +++ker btw”
Innocent mistake didn’t mean to insult you, by implying you were one of those +++kers from the 4th floor. Detect some old departmental rivalry there! 😂
I was never a Corporate Baker Howzap...In truth I'm not even sure which Corporations might employ their own bakers .. ...But if you were a baker for Premier Foods for eg then I guess that would make you a Corporate Baker?!
(It was Investment, not Corporate +++ker btw)
PS: As well as Drew and Zap...maybe we're also at +itchu, with a capital B !
Howdy NtM if my memory serves me well, wasn't you a corporate +++ker?
Or are you on about a different type of +++ker?
🫢
So if we're at 'Drew' and 'Zap'.. are we also at 'Ker'.. as in +++Ker? (MBaker)
>>Could holders convert warrants into shares at any time and any price?
How many have expired?
There is too much disparity in the share price against the price of the warrents which obviously give the holders the right to buy or sell at the set price and at anytime. But they become worthless if not exercised before they expire which I believe the 8.5p and 5.6p have done.
Hence why Colin’s brand of rampy PR had continued long after the placement that initially funded phase two. To drive the share price up and above the warrent strike prices. And possibly tailed off when that either wasn’t going to work, they were confident then that income would finally make up that deficit in budgeting for the optimisation phase to PFS, or, to later plan a new PR drive once resource economics are known to get a further placement to fund the next leg up.
My take on it, opinions may differ
I like the current growth strategy, with CB doing what he does best. Is on the right track. His record with Jubilee was second to none. Stepping down as he felt his skills were better suited to growing companies that were at that earlier stage in their development.
Xtract is a prime example of developing to sustainability with a good balance of reward against risk mitigation, with projects that can be structured with only a project manager assigned from the company, so as long as projects that fit a certain criteria are found, they are not a drain on the company and that growth is not limited.
As for BR they have an experienced geo team that are making the key decisions in exploring, delineating, and growing the resource. That’s what they are paid to do, so is in very safe hands.
So I agree on the currently low mc to keep accumulating.
Guy 😉
Cheers A4444
I’m still here Howzap but suffering from a severe shortness of breath !
Has to be held by end of June with a 3 weeks notice period.
I would think CB will be leaving it as late as possible so Friday 30 June and an RNS calling it in early June??
Is the AGM the end of June anyone?
>>…..what value of Bushranger would be priced into company value now?
Is worth a reminder that although the economic evaluation showing IRR once reworked, would need to show a degree of desirability to compare with other projects, or certainly the potential to be. It is essentially, just a snap shot along the path to feasibility that projects take with each decision point. Generally, with the model being reworked as necessary along the way to achieve max value.
Following on and in relation to the thread title, here’s a quote from Jezzoo from that day one year ago.
Jezzoo >>> I for one can hold my breath a bit longer for bigger payday.
You still with us bud, in both mind and soul, or shuffled off this mortal coil?
>>If XTR was listed on ASX what value of Bushranger would be priced into company value now?
Market metrics for ASX listed copper companies suggested that RC resource would have immediately driven a market cap of $15-30 million
That was for a listing back in 2020 from BR presentation. As for now, is good question.
You hit nail in head Dani, those with a long term outlook can see the value in where the company are positioning themselves. Those with a far shorter term outlook have been disappointed with their investment particularly with the way the PR has been handled. Hence our optimism for the long term is not palatable for many at present.
I have a book at home called ‘The art of not giving a F***
Served me well!
>>>Well done Bird, you are certainly true to form with the companies that you (mis)manage!
I’ll take that as how it is written bob, so I couldn’t agree more in Colin’s good management of the company, at least since I invested in early ‘21. Just for balance however, on the other hand is arguable, that his management and use of PR toward shareholder expectations has been questionable.
Seen the fairbride JV successfully and smoothly come together. Negotiated a really good deal with Oval mining and Kakuyu owners to mine there. Giving Xtract full exploration and resource delineation control with 60 then 70% profit share without the 50/50 JV complications that can sometimes transpire between partners, potentially what has occurred with the KPZ deal. Sometimes the best decisions for the long term are the easiest to make in the short!
But I think where shareholder expectations were concerned, seeing the market react to those missed targets that were implied by Colin and coincident with market down turn. Has potentially seen ‘overall’ shareholder value increase if the company can build cash flow from production adequately to cover the contractual obligations for all further drilling and technical work in Oz without the need to rely on further share placements. Particularly, with the expiry of the warrants at 8.5p and the few at 5.6p that would have bolstered the treasury by £4m+ but seen dilution.
Has generally been accepted that an investment case be based on up to a billion or so shares being in issue taking warrants and bonuses into consideration.
What are the odds, now the company has economic sustainability, that total shares in issue, will have been potentially reduced?
Ultimately benefiting ‘ALL’ shareholders.
Hello bob, so are you blaming Colin bird for the huge losses wiped off the valuations is all other companies listed on the various indices. AIM alone, had seen £45B wiped off of values in the first half of ‘22 alone.
Most or certainly a vast amount of those companies in AIM that have suffered the most losses those that do not have earnings or any other type of incomes to underpin their market caps.
The same has certainly been the case here with the slower than anticipated pathway to full or meaningful earnings from full production levels being reached from fairbride plant.
Xtract are now in prime position to capitalise on those investors that have shunned listings in those previous 18 months or so that will be looking for value where there is current undervalue. A newly sustainable, exploration and mining company will be right up there to take advantage of the swing in market sentiment when it turns.