We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
>> Those who think this is an admission that the prospect is non viable then you need to ask why continue with the f****?
Do you seriously think that if the model came back as non-viable, XTR would just release a clear RNS to that effect? Instead, they would prevaricate and obfuscate, like they and many other AIM companies do all the time. Eventually the project will just quietly disappear like Kalengwa, Eureka, etc.. Why do you think there is a new distraction in Zambia?
At some point, you have to take off the rose-coloured classes and realise what is actually being said in the RNS.
Or alternatively, consider that if you were not currently invested in XTR, is this where you would invest right now? When I asked myself that question last year, I sold and put the money elsewhere. Still very much weighted to copper BTW - I believe that part.
The reason the price is falling is due to the increased delay that this development introduces.
However, for LTH that want to build a position, this is good news. The RNS suggests that this is economically viable but you'll have to wait for your money.
LSE clearly doesn't like the word f a r s e .
MaBaker... we have to acknowledge what the market thinks... unless you think Optimum will be buying Bushranger !
f*** should read f****.
Don't know where that came from...
I think we all knew that the grades were towards the bottom of the global range. However, in recent decades the way to solve this problem is to use a concentrator. Why it took around 3 months for the modellers to reach this conclusion is beyond me, just hope they're not changing top dollar for this stuff. Anyway, the concentrator is the obvious way to go.
Those who think this is an admission that the prospect is non viable then you need to ask why continue with the f****? That doesn't make sense to me. The modellers have to find the most economic way forward and the concentrator is that solution. In the mean time more drilling will take place. Sounds good to me. Nobody is going to leave 1.3M+ T of copper in the ground in a convenient location in Auss. It's just going to take longer than we planned. The question for me is whether the cost of the drilling will come from dilution or be financed from Africa? See attached link on concentrators.
https://www.mogroup.com/insights/blog/mining-and-metals/the-environmental-and-economic-benefits-of-pre-concentration/
Xtract the Urine resources?
Market doesn't seem to have taken too well to Colin polishing the turd
It's inevitable.
Ore sorting could significantly improve the significant cashflows identified from 1.3mt of copper. Ore sorting will need capex. Capex needs justification. Ore sorting justification study has been announced today.
In layman's terms he is saying if we throw a shed load of copper piping in the machine it will look like we have found more copper.
@ZaksTradersCafe talk to Colin Bird, Executive Chairman @ResourcesXtract about today's market announcement #XTR Update on Open Pit Mining Study for Bushranger Copper-Gold Project in central New South Wales, Australia
https://twitter.com/Share_Talk/status/1633032173686083584?s=20
Zak Mir talks to Colin Bird, Executive Chairman, Xtract Resources, in the wake of the mining study by independent consultants Optimal Mining Solutions (Pty) Ltd to examine the economics of a 20Mpta and 25Mpta open pit operation on the Bushranger Copper-Gold Project in central New South Wales, Australia.
https://www.share-talk.com/zakstraderscafe-interview-colin-bird-executive-chairman-xtract-resources-interview/
>> What on earth does that mean?
It means that if someone provides a billion dollars worth of processing plant, transport networks, power systems, mining equipment and other infrastructure for free, it looks like a good project.
I don't think I have even seen a mining study before that excludes capital costs to make it seem economic. Very innovative.
I am sure if there were any versions of the study that were even close to economic, they would have been front and centre in that RNS. Instead, more drilling, more studies and no end in sight.
Apologies accepted.
More like Non-Extract Resources or Nothing to Extract anytime soon Resources... such a shame.
Such big ideas that unfortunately don't come to fruition imo.
DYOR
What company this is a scheme.
I bet Dani is happy. Keep loading up Dani, you'll be able to buy the whole company soon.
I hope I'm reading the part wrong where it say all 16 scenarios are economical excluding the capex?
What on earth does that mean?
Colin over cooked it from the beginning. Seemed to be really excited about what we could/did have. My fault l brought on his excitement and trusted what was being said between the lines. Not a lost cause as yet but colin keep your mouth shut until you have something positive to actually say please
After listening to podcast. RNS could have been written better (simplified)
More profits less expenses in a nutshell
Joeman, Whats the point in getting a timescale when they never it any of them!!
All discussed here.
https://audioboom.com/posts/8259001-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr
The proposal in the RNS and the podcast made sense to me. Frustrating that this has pushed out again and that there isn't a definitive timeframe given for the extended work (It could have been couched in terms of months imo).
Contrary to some comments ,I don't think this announcement can be used to say either way if the project is/isn't/was/wasn't economic. If there is a flowsheeting opportunity to reduce CAPEX and OPEX by halving the amount of ore that goes through the main plant then only an idiot wouldn't consider it.....
Say 20% better NPV might be another 2, 3, 4 p on the eventual shareprice.
I would be good to know how long it will be to deliver the study now though.
This to me speaks volumes as to why the big players havnt shown any or much interest in takeing it on and this RNS sums it up really we do have something but not big enough to excite them which tells me this will not be getting sold any time soon unless there is a massive spike in copper prices and I believe Colin knows this which is why he is mentioning the open pit quite often and us doing it I really do like Colin and admire the man but feel this was over egged from the start
Now heading down to new low so can forget about world cruise this year
After holding this since the days of Jan Nelson thought this was the real deal but maybe the market saw through all the hype
So we're are not selling this in April 2022 Colin?
They would not throw more money into this if it were not viable.
They must be expecting a significant viable increased valuation for the additional outlay. Not sure why this is at low key if they were considering a raise. What direction will the finances come from. Timing might work out for the copper price expected explosion.