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LittleWing is correct, the glaring omission of CAPEX and NPV begs the question that they know it's not viable in it's present format.
If it was CB would be shouting it from the rooftops, he's as transparent as a very transparent thing indeed.
Add in the 3 month to 6 month stretch in results and the rat starts to get rather pungent.
What it says in the highlights of the interim RNS -
- 16 economic pit shells were modelled in the Interim Report from an operating cost perspective only with capital cost requirements excluded and to be finalised on completion of the Study. The 20Mtpa and 25Mtpa open pit options potentially generate significant operating cash margins dependent upon mining rate, copper price and cut-off grade.
‘Potentially’ implies that once the cap costs are included. As further down it then states -
-A total of 16 scenarios were run for open pit mining of the Racecourse and Ascot Mineral Resources, with economic pit shells being generated for all of these scenarios.
Is still a waiting game but to bear in mind there is still a further optimisation phase of drilling that will improve economics even further, from direction that the updated mining study will point.
MaBaker... "Recent podcast from Colin ststes current model by Optimum already producing cash."
Before the CAPEX costs are included. And of the 16 pit shells studied not all were cash flow positive even then depending on copper price. Some shells had the potential to be cash flow positive.
The expected original report was supposed to be an economic pit study (hopefully showing a good positive NPV). Why do you think the goal posts were moved so that it became an interim report excluding CAPEX and not showing NPV ?
You do know that "cash flow positive" is NOT the same as profitable and viable right ?
I'm just amazed you still believe what CB says in interviews, when he says it in an RNS I'll take more notice and so will the SP.
MaBaker, you've picked a right loser here.
Stick with it, and you'll be truly impoverished.
Just saying...
MaBaker, not trying to rile you up at all. Until we know if BR is viable we cannot say that BR has delivered anything. We don't know if BR is viable once CAPEX is included. We hope it will be, but we just don't know. We also don't know what copper price is needed to make it viable.
So I just dont understand what BR has delivered for shareholders despite your claim that it has delivered 1.3mT and an open pit to recover that resource over 9 years at a depth of 250m. For shareholder value to be realised, something more than just hope has to be attainable.
https://oilprice.com/Metals/Commodities/Copper-Prices-Face-Bearish-Headwinds.html
The first typo was better . Must be to invest on AIM !.
Jolly amusing typo !!
*most here are already invested, not bonkers!!!
"The company has delivered on performance whilst the shareprice has gone down... ultimate value investors dream."
Stark raving bonkers. Most here are ALREADY bonkers. I'm balls deep, like many here, having believed Colin's spiel about tier 1 and "this is massive Zac!" This is not a dream for most here, seeing share price increase being completely and utterly inversely proportional to company progress. This is the exact opposite of a dream to me and many others. Colin HAS to deliver and fast. Telling AA to shove a 10p offer seems very far off right now, and your delusion and lack of realism is not helpful!
MaBaker... How has BR delivered ? Also define what you see as Manica having delivered so far ? (not what you hope will happen).
MaBaker... the fact that Colin is NOT shouting from the roof tops means we don't know if the revenues are what we were guided to believe. We want the revenues to be where we would all like but we cannot know ! Colin's track record of his guidance being removed from what actually occurs means we may not get what you are convinced we are going to get.
The company has NOT delivered on performance, unless you feel the Kalengwa, Eureka and MozGold deals were an investors dream ??? We all want the company to deliver on performance but until we have clarity on the revenues going forward that remains a hope rather the fact that you seem convinced of.
Hi LW it would certainly be arguable that reported rising revenue would support an increasing market cap. But we may also see a consolidation period as the market has been made fairly aware that the increased revenues will likely be used to support the Oz drilling efforts which is still a priority for xtract. So, until some clear direction with expenditure is known to see BR ability to be ‘actively’ marketed, one way or the other, the share price may recover to a degree, but could see some stagnation until that expenditure can be factored in.
MaBaker... The SP needs supporting simply because shareholder value is realised by a rising MktCap (and corresponding SP). It would be hoped that a rising MKtCap would go hand in hand with rising revenues at a rate given by Colin's guidance previously. The falling SP over recent months does not provide the idea that the hoped for revenues will be delivered any time soon. If all is well with the acquired projects that were supposed to lead to a steadily rising MktCap then it is the duty of Colin to provide that guidance. There is the assumption in the market that some of those projects are worthless. If this is a wrong assumption then clarity should be given. There is no certainty that BR can be sold to the benefit of shareholders (although many were drawn in by that hope) leaving a rising MktCap as the most likely route to realising shareholder value. Thats why the SP should be supported.
The one thing that worries me is that CB might just be not that bothered about this situation.
He's a wealthy older man who gets a huge draw from his combined directorships.
He's a gambler and this was all fun and games to him right up to the point it wasn't (Steve what'shisface)
Then he chucked his teddy and things went downhill from there. I think he's lost interest now so he's letting things just chug along at it's natural pace whilst he continues to take his salary and we continue to suffer the consequences.
I really thought this one was one of the very few CB big success stories despite the hype.
Prove me wrong CB please, I have a years wages in this company and I don't have many working years left.
The markets have been affected by World events, but CB sold this as the best thing since sliced bread and now he has gone silent, so let's hope he comes good on all his hype or his so called credibility will be right out the window and I for one and I suspect many others, will not touch anything he has been involved in, with a barge pole.
30 Sept was five and a half months ago
If that's the last update on cash and assets I wonder how relevant that information is today.
When is CB going to announce something truly positive and get this moving North. I`ve been investing for over 30 years and have never been fed so much hype on a regular basis and then all this silence.
When the SP needs supporting it makes no sense that FB reporting was moved to 6 monthly. My guess is the production is short of what Colin told us.
Bonnet de douche Colin, bonnet de douche.....
Oh dear.
Plus ca change, plus la meme chose.
We are also getting production info from Empress Royalty so unless the conspiracy theory suggests everyone is in on this (apart from Colin) then we will be able to double check the info from a number of sources .
Strange how anyone would use the high gold price as a negative (corruption more likely to be going on) when it would be more understandable and believable to use it as a positive for xtract :)
Hmmmm.
I do not have an agenda I am merely pointing out why FB is not producing the amounts we all exspected and what I mentioned can not be ruled out and if mined quantities remain low it’s a definite possibility and to think this couldn’t happen with such high gold prices would be inconceivable
It’s quite a concern is it Cela?
I spot an obvious agenda considering you sold the last of your Xtract holding chasing the short lived rise in AFP.
Fact is, the whole junior sector including all CB companies have generally gone into ‘limp mode’ to ride out the downturn, the lack of comms albeit a steady trickle, is a distinct result.
Not sure what you expected.