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tbh I would rather the journey back to 6p was a robust one that took time rather than a relatively quick spike back up. I would have more confidence that we would be staying at 6p if it look circa 9 months to get there and that would be a firm base for hopefully further gains?
My immediate concern is seeing some big sells over next few days. If we dont see that then hopefully we will have a slow climb back up??
Good old compound interest. We'll be back at 6p just after Easter at this rate...
A 15% rise on a 1.5 penny SP is only equivalent to a 3.75% rise on a 6p stock - which this was a year ago.
Gonna take a lot of 15% days.
Looks like 1.3p U/T trade after hours wiped out the real 15.4% rise !!
At least it should open up tomorrow :)
you buying punchily today ?
My message a day or two ago mentions the the activity in the next few days might indicate what we might expect in the forthcoming report due out in the next few days. Sounds positive
Don’t be daft NtM, he lost it all on the gee gees.
Colin bought a new racehorse with his money!
Hi Howezap, you got me wondering where i got it from
I feel sure i heard it in one of the podcasts 3 or 4 weeks ago
buying punchily today ?
I’m not excited either. I need 350% to break even, but any upward movement is welcome.
Once upon a time I would have been excited at this rise in SP, but now I am wondering if it means another placing is coming or if it's just a spiketrap.
Done a few dummy buys...can't buy anything
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As I pointed out at the time even without finding anything and just dropping the cut off grade would increase the Jorc substantially, and some cut off reduction appeared and still does appear fully justifiable due to the coincident movement in POC. It is not for mgmt to control what drill results will be, they should maximise the chances of getting good drill results, that comes from aiming in the right (in the opinion of the top professionals) place and drilling plenty, he brought in a great team and did plenty of work funded by the £5.5m to give it a really good go, imo. Again understand some things said in the midst now may seem exuberant but some people who choose to do these things with their time wouldn’t unless they had such passion and optimism.
There is still great prospectivity imo at BR and the Jorc as it stands has only increased the leverage to copper price the deposit seems to demonstrate, much information has been gathered and knowledge put to use including money spent, in some ways this adds to the base value of the licence irrespective of anything further occurring.
Manica income backstops the intrinsic value of xtr beyond that of most other aim juniors and with the gold price threatening a quarterly breakout and other macro themes potentially soonish redefining the importance of existing capital relative to annual income I feel at 11m mcap or so xtr is now certainly a good place to restart adding to the pf, being not only focused on natural resources – something, even as far as the eye can see, seems irreplaceable by tech and ai and increasing in demand (because of them in fact) but specifically copper and gold, the greening leverage and the cross inflationary/deflationary cycle LT store of value. Xtr is indirectly a gold producer and has a mcap of c.11m, (dcf valuations are applicable and exposed to a comod on the verge of a potential breakout to aths). With potential for kakuya Cu production at some point in the not too distant future chucked in on top.
AIMO ATB
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First purchase of xtr for a while for me 100,085 at 1.33p, not been following this bb much for quite some time but looking back over the last year or so generally my thoughts include…
Rns 19/04/21 placed 98,214,286 shares to raise £5.5m at £0.056 which was a per share value that the xtr sp had last visited 13/03/2017 (prior to the introduction of BR to the company (which, at the time, on this bb was met with considerable criticism from some)). For much of the intervening period £5.5m was more than or close to the entire mcap of xtr. There was also the visibility of raising the same again at 8.5p if drilling success had warranted such positivity. The drilling results never quite seemed to live up to the market expectation created after the first deep hole that in hindsight really seems to have hit the sweet spot and the copper and wider junior market faded slowly from a point soon after the placing up until relatively recently.
I can quite understand how some are now frustrated looking and listening back on the enthusiasm and proclamations made from several angles. It was an opportunity, the general bounce from the covid crash the general copper price move the move in mining juniors and the great hit on first drill, an opportunity that was justifiably taken, imo. That £5.5m and the potential of the same again relative to where the company had been for years before (admittedly the never ending and repeated mis predicted wait for FB manica production etc was painful for many myself included), gave xtr holders a real chance to find something at RC that could have transformed the company.
AIMO
I suspect that as the MC and sp are decoupled from the fundamentals a few were waiting until the selling had stopped or that others were going back in.
Whether this is a false dawn remains to be seen.
If we dont get big sells over next few days then maybe, just maybe we are going to bounce up from the lows?
Whispers? Leak? Straw clutching!
I'll have a lot more free money in 2024 (nursery fees hurt!) so for me I'd see a good situation as, good income from Africa but the markets don't react (so I can do a little bit of averaging down), we continue to drill with no dilution and hit the 2mt and sell end of 2024 or early 2025
We can all have a dream!
howezap, I was wondering the same thoughts about the 4 holes. Like you I think this is a mis-undestanding of the 4 core samples. I'm hoping that the new drilling will pad out Ascot and conduct new exploration on the anomalie west of Ascot to get it to a similar status as we currently have on Ascot. Maybe even a handful of holes to fill in gaps in Racecourse and another dip into Footrot. Happy to wait if it means finally getting close to that 2MT. In the meantime there's the opportunity to top up at prices lower than when we did not have income or 1MT + of Cu in the ground.
Hi Docit I’m wondering where you have got 4 holes from?
There was mention that core samples were sent from 4 ‘previously’ drilled holes for analysis toward the pre-concentration study that determines if the ore is amenable to modern ore sorting technology. The updated conceptual study will then be completed once the results of that pre-concentration study are known.
The further ‘optimisation’ drilling will ‘not’ commence until after the updated conceptual study is back as drilling will be directed from the outcome with recommendations toward increasing tonnages, NPV and further value.
I think folk need to understand the ‘potential’ work that is still required toward getting to pre-feasibility. CB stated himself that it is what they are working toward.
There has been too much false hope given by CB in the past through whatever reason. He appears to have now been bucked that trend in most recent podcasts.
To be brutally honest Andrew i really don't give a **** how it happens as long as it does and we all make a pretty packet. For me, i want to take a couple of years early retirement. CB make it happen please.
"I still believe this will turn out to be a good story ..."
That's also my view but I suspect that will be as much due to the very high POC over the next 12 to 18 months than anything else. We may need $10K + copper to make a sale and that is not what CB implied.
Unless we get a sale at current POC then my view will be that CB has been coming out with BS over the last 2 years even though we still may do well here. But that will probably be mostly due to the high POC .
Thanks howezap but according to Sunday roast we are viable and are hung up on this 2mt as they suggest. If we need to drill four more holes to prove things up, then they should get on with it as there appears to be no plans to do so. Seems that we 're dying by 1million lashes not 1k . If this turns out to be positive then those topping up at every drop stage will be in line for a massive windfall. I still believe this will turn out to be a good story and am one of those that tread where eagles dare. Would just like to see a reprieve for once and wake up to a positive share move. This board was buzzing not so long ago and that was great to see. As i said we will probwble know a little more in the next week
The fact the AIM market is in a mess around now ...and copper prices are decently short of where they may readily go to.. and CB needs time to get enough Mozambique revenue in the kitty to allow next phase BushR to go ahead.. could be seen as getting all the bad noise out of the way - braodly - around the same time, Howzap.. indeed thats how I choose to see it.. and if all those bad noises turn to good noises - even kinda- braodly around the same time, then we'll genuinely see game back on here .. allowing happiness return for many- currently suffering - holders here, I'd expect/hope
It has to be held within 6 months of the end of the last FY - so by 30 June. Probably on Friday 30 June as CB may want to leave it as long as possible for sp recovery and FB ramped up ??? If earlier then still in June
We have to have 3 weeks notice.
Rules were relaxed during covid but my understanding is that we are now back to pre covid rules.
Hi Docit
>>So why has no one bit the mans arm off
Typical porphyry low grade deposits are more cost sensitive as they require lower cut off grades to be economic on start up, than other ore type high grade deposits that can be profitable at much higher cut offs so there are potentially less financial risk involved in acquiring earlier on in the life cycle of the discovery. Unlike huge low grade deposits such as BR that need a viability study to support it before an interested party would consider buying. Porphyry deposits are more favourable due to their long mine life. But they require a mineralised parcel that initially makes them economic to pay back CapEx. Cadia had good gold, Boda has a very high grade breccia zone that goes to surface and BR has the high grade crowns with further potential to be optimised by BOS.
Until there is a positive economic study it’s unlikely an interested party would consider taking the project on anyway. With the legally binding buy back agreement that gives AA first refusal, any acquirer who wanted to buy would inherit the agreement so it would deter such actions.
So until one or both of the AA options to buy back in are triggered and the agreed mechanism toward a buy back decision has been made, the only way we could sell to another party is if AA declare they don’t want it.
Agree though, the funding of and the extent of further drilling are the uncertainties at present. Although they have already, or are currently still planning the next drilling.