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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.
Think Xtr might be talking about further testing on the theory they have mentioned In the Rns?
Paragraph
At bottom of.of 1st parade.
It seems to say that further testing is already underway.
16 ECONOMIC pit scenarios using current prices.
The next question is breakeven time on capital costs, which is where the pre-concentration can make a big difference.
Am glad to see Phase 3 drilling is being looked at.
This is a slow burner but the prize is getting bigger.
GLA
Re:post 0830hrs
I concur
Agreed more language around this is 100% viable would be good. However, I can see why if the cueq grade has the potential to nearly double through pre concentration - "The feed grade into the concentrator on this comparable project increased from 0.15% Cu to 0.29% Cu, improving metal recoveries." - then I can see that having huge improvements on the value of the project. Surely you would do that study/testing anyway even if the project was already viable to make it worth even more and at even better economics. It just improves the figures even more so. I'm not going to complain if the project goes from a sale value of £100m upto £150m plus because of it (example numbers).
GLA
I don’t think the message delivered was very hopeful I did not get the feeling that this is absolutely commercial to mine but pushing the pre concentration angle to bring it up to a more commercial product does ring alarm bells for me if that has to be done
The update was aimed at examining the economics of either a 20Mtpa or 25Mtpa open pit mining operation for copper prices ranging from US$8,000/t to US$11,000/t and cut-off grades of 0.10% CuEq and 0.15% CuEq. 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.
So basically it needs pre concentration to make it viable
That’s the message I’m seeing from reading this which I have to say isn’t very promising if you need to do this , only when the copper price substantially increases will bushranger be a viable prospect I can understand why colin doesn’t want to actually say it’s not a commercial prospect as he’s been so excited with it for a long time but I guess the chap on here who brought this to light was right after all