The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Under the statute of limitation you only have 3 years to bring such a claim from when you first become aware so you best hope that a decision to mine comes within that 3 years or you could lose the right to claim !
Actually 3.5
Its been three years since looking in the SXX situ, and still nowt
Depends on the evidence F100
Your get absolutely nowhere.. waste of time G600, look at SXX... people are still chasing that down, without no return at all me being one of them.
IMO Bird has deliberately mislead shareholders. I have compiled a document noting his public comments to the market and, should BR not become a mine, I shall be taking legal action.
He has a duty of care to ALL shareholders, not just his mates, and he, IMO, has not met this criteria.
There's also evidence that he has told certain individuals that news is incoming before that news has been released in an official manner. (I have also documented this)
Through his misleading information CB has not only cost me two years of the remaining 7 years earning years I had but also took 30% of my wealth into his company based on his RNS and enthusiastic podcasts, so far I'm 65% down on that. So he's seriously affected the rest of my life with his sales pitch. I'm far from happy with him and if I lose the lot he will not have heard the last of me.
For me, the fact that Colin tried to blame the shareholders for not understanding what BR was in terms of tonnage and grades, highlighted the reality that he blatantly misled us from the off. The fact he continued to do so shows he was never interested in getting a decent return for shareholders (except the few in the know who forward sold maybe).
It would be good to get some clarity on this at the AGM - which should be in less than 4 weeks.
I don't know if anyone attending wants to ask some questions on behalf of the group, but if they do the other question would be what is CB's revised expectation of Gold production at FB (it was 80kg to 100kg) and when does he think it will reach max production? End of the year?
Yes I know his answers are not in an RNS but its the best option we have at the moment :)
(My Q3 was, does he feel embarrassed and guilty for his terrible forward guidance and trying to gaslight the shareholders - but I think it's best not to include that one :) )
Hi Guy
Ok got what you mean now, and agree they will be included in the economic model (assuming successful). I would also like to see some commentary from CB about the impact on the project eg reduction in processing etc
Cheers
James
Hi James the project is still at a conceptual level with the corresponding data inputs from the resource classification, metallurgy and any resource optimisation work at this time at a level of confidence only suitable for that particular study level how I understand it.
Again it says ‘could be’ not will be how effective it is.
The data that is input into the financial model will need to have some assumptions made at this stage, so will be at a low level of confidence. It is basically being done to prove that the concept is viable for now.
All quite normal progression. I am just suggesting that they may, only may, wait until the updated conceptual feasibility study is completed to reveal the effects that ore sorting could have on the economics.
Hi Howezap
If I understand correctly you are suggesting that the Ore sorting won’t go into the updated economic model? The following quote is from last BR update “ Therefore, we have initiated a study to determine how effective ore pre-concentration could be at Bushranger and will then feed those results into the final open pit economic modelling”. Granted it’s a CB quote but ones in RNS do have a bit more weight to them.
I agree that the economic model won’t have the incremental economics of the Ore sorting released though (if this is actually what you were saying)
Cheers
James
Just offering an alternative view on that particular comment of 3-4 weeks Ben. But maybe I should have put “in the world of Colin” and not PR! I agree with your points totally.
Have said before that I personally don’t expect it to be released even if it is back yet. As will just be a proof of concept study only that may not have the necessary data to input into the flowsheet to be of any real significance to actually support the economics on its own. From the pre concentration study that is being done from the 4 drill core samples, assumptions will need to be made. Hence could even be looked upon negatively by the market as Colin was talking of lower cut offs etc. Bit early for this particular study even though the technology could eventually allow it.
It will be fine for the conceptual study but could likely see ‘later’ more intensive test work done from a bulk sample to test various primary crush sizes and how the ore presents itself on a conveyor with the more advanced and extensive test work results being critical for PFS inputs no different than the requirement to upgrade the part of the resource that will be included in the initial mining phase the decision to mine will be based on.
Could well be wrong of course and it lands at 7am. (Insert day, any day)
>>Yes anyone can leave at any time, you won't get to leave with the same amount you invested though, far from it.
If you are staying for that reason alone then that is clearly the wrong reason to stay. You must believe in the company to produce the results that would cause rerating to get back to your average and then some. If you don’t believe that is going to happen here soon and you think there are better opportunities out there to get your money back quicker then that is what you should do.
I know it’s easier said than done.
Hi LW I initially invested for just BR after doing some basic research on porphyry’s and admittedly got swept along on the whole 2mt bandwagon. After time, extensive research and experiencing coin birds brand of PR to minimise dilution, along with taking on board the AIM rodeo experiences and knowledge gained from NtM and the warning advice from LTH’s such as yourself, Andrew, lucky gixxer and others to ironically, ignore the noise!
"The door is always open to leave at anytime Eastern"
Yes anyone can leave at any time, you won't get to leave with the same amount you invested though, far from it.
Money you invested based on CB's podcasts and things he has said at AGM's etc.
Howezap... can I ask... did you invest in XTR because you thought BR was a 2m ton economic resource or some other reason ?
Just looked and see a good discussion trails here today ..
All I've got to add is that CB absolutely plays games with xtr shareholders imho... from my years involved with xtr shares, I believe him to have an abundance of manipulative character traits.. but if the s/p waas plenty or much higher now then I'd be fine with that.. but it's not and so I'm not !
>> if they ‘were’ expecting the pre-concentration study to be released. - So are you saying Bird purposely lied to the market and had no intention of releasing the news?
I think the market would respond far more favourably if he actually ONCE met a deliverable or actually didn't lie to them....
Interesting reply howezap. Won't speak for EI but can speak for myself, of course.
Naturally anyone can leave at any time but having believed CB's previous forward statements and considered them reasonably genuine, I'm now 50% underwater. The point here is that what Colin says when representing the company matters. Currently many many investors are underwater and that is down to Colin's management of the rhetoric, release of news and lack of adherence to his own timescales.
Second, you state: "What he said was they were expecting it back in 3-4 weeks! In the world of PR that doesn’t mean it would get put out then."
Interesting approach to the use of PR. I would like to see PR as a way of reassuring current investors, enticing new investors and generally showcasing the possible returns a publicly listed company may make in the future. I would genuinely like to trust Xtract's PR in the future, yet you seem to class PR as not needing to be reliable RE timescales. You make it sound like Colin is playing games with us all, or at the least manipulating shareholders. A little bit of honesty and realism would be very much appreciated going forward.
You really think Bird is that 'clever' - Laughable......
The door is always open to leave at anytime Eastern. And I think that is where Colin is clever in what he says by putting out some nibbley bits to temp people from leaving the party early. So where you say no one fell for it this time, you could say they have, if they ‘were’ expecting the pre-concentration study to be released.
What he said was they were expecting it back in 3-4 weeks! In the world of PR that doesn’t mean it would get put out then.
So it may well have been the point to keep the disgruntled hooked and not necessarily to ‘directly’ prompt more buying in which case could well have been a successful episode.
Ben, sadly you are correct. Despite all the criticism of his predicted time scales and over egging things, CB still cannot resist. This time around, no one fell for it and the claim of 3 - 4 weeks was met with derision. No one is surprised, just saddened.
6th April, Colin told the roast chaps that it was 3-4 weeks before concentration feasibility study would be ready. Almost 8 weeks later and not a zip. Either Colin is sitting on it and plugging in the numbers or his forward looking statements are once again about as useful as a chocolate teapot. Old habits die hard.
James on the other hand maybe Xtr should stand up or it goes their choice.
They cannot keep ignoring it do they want it or not that is the 64000 dollar question.