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.
Is Ma or if you dare say Da. Could be Little red riding hood next. Didn’t she grow up in the woods too?
IWTO was one of the closest in the guesstimates of RC resource, good math with a grasp of what drives resource economics and was vociferous in defending RC resource against steve4077 claims with sound reasoning imo.
iWantThatOne post RE: Blocked on Telegram
28 Nov 2022 18:50
If you missed it
The extra $1B revenue from ascot once discounted will give an NPV…… ;-)(
A repost by iWantThatOne from 26 Nov 2022 09:13 who btw is, in my opinion one of the stand out contributors for his knowledge and quality of posting on this board.
>>>We know from earlier modelling that RC pays back the initial capex and produces >$200m NPV at $5/lb. That was based on the original JORC’d resource. We now know that the high grade crown contains more copper-equivalent material than that, at least another 0.1Mt worth >$1bn revenue - again at $5/lb. That’s before you consider the remaining low grade 0.5Mt that would be mined from year 11 onwards. So, very clearly, BR will produce a positive NPV at $5/lb - possibly a very attractive one. The question is then, what about at lower prices? And will the economics be sufficient to attract a buyer? <<<
Since then, the Ascot shallow high grade of 34mt @.33%CuEq can be added to immediately increase NPV by a further $1B which is another 0.1Mt net roughly after recoveries. It has been confirmed that then further drilling will be directed from the updated conceptual study due, to further improve those economics and to add more value as the company take the project toward an eventual PFS to take the project to market. So for now, it does seem clear that this due study is just a snap shot of its current economic state and the targeted drilling will no doubt further improve NPV and with the potential to be economical at a lower copper sale price. CB does appear positive to be able to include the early high grade from Ascot to the model.
Any other factors to consider?
No just waiting on AA decision this month maybe.
I wonder if VulcanBob attended the AGM. Perhaps using one of his other names?
Colin’s got nothing to worry about in every barrel is a possible bad one needs treatment or thrown out all will be revealed later.
It’s no secret Dani, if you behave they will let you stay. But ok, ma it is. Btw you are wrong about Ella they are meant to be Colin Bird, which then would make you Colin Bird! But, you both cannot be as…….I am Colin Bird
Don’t believe that was the question LW. Costs have been absorbed already toward Kalengwa so no.
CB really does need to keep his emotions in check and not let himself get carried away. Do agree in that respect LW
"Lets get to nitty gritty is this kalengwa debacle likely to damage XtR robust balance sheet? If not then for me there is no issue."
Its an issue because it directly affects the credibility Colin (and hence XTR) has with the market. That directly affects the SP as we have seen. Its a big issue as the markets's verdict is probably "why should we believe him this time ?"
Ma i thought you were Russian girl. Call it a feeling but for some reason it crossed my mind. Maybe the way you post has a resemblance about it
Hi all. Quick drive by as I couldn't resist the below.
"I personally did not read what he wrote"
" all you lot got sucked in to his phoney analysis."
Everyone who read the analysis and agreed has sold up and left. Anyone who didn't agree held on to their shares and stayed. As you didn't read it, your assessment of the analysis must be based entirely on the people who stayed. Sound logic!
"Yep Steve4077 analysis on the Jorc announcement had a horrendous effect for those that sold their holding in XTR"
Yes, terrible. All those people who sold at 2.5p could now buy back in at 1.8p (if they wanted to).
Just as an aside, were you aware you can invest in ETFs that move up and down at triple the change in the copper price. No placings, no guesswork and no misleading interviews. No one is ramping or de-ramping because it has zero effect. If you believe in copper, just invest on the price alone and gain multiples. I'm not going to mention specific ETFs but they are not hard to find.
Hi James yes that would certainly confirm a more definitive withdrawal from Kalengwa. I had only previously caught the action in the comments in the same year end audit which was more vague.
Question is wether it was a genuine reason given regarding remoteness and lack of power, opposed to any disputes or relating to it being the reason?
If the former there would be less reason to suggest Eureka has gone or going the same way with the last update being that they are considering options for possible ‘future’ development. Is certainly open to interpretation though. The wish imo, is for Eureka to be subject of the deal with KPZ having soured which just seems more likely for whatever reason, and Xtract can acquire the exploration and mining rights solely.
To be in the position after trial mining there and a subsequent irregular mett result that was then dismissed as a localised anomoly they were then ready, to proceed with mining and then….. Change their mind?
(Same report)
Let’s hope there is hope still for Eureka, the prospects are tremendous.
I believe VulcanBob is probably the same character that told someone you couldn't be CEng without a good degree - they were named on another board.
I am not trying to defend CB but I do find this character rather interesting. Someone suggested my research wasn't up to scratch so I'm polishing up on it.
Howezap from the annual report;
"Post year end the Company decided to withdraw from the Kalengwa Project in Zambia and fully impair
the carrying value with a consequent charge to the income statement of £0.36 million"
based on the above id say its foolish to hold any hope in kalengwa contributing anything to XTR, obviously we are speculating on Eureka following a similar path but based on past experience of XTR I know where my money would be on
Colin's bigging up of those projects give me plenty to be concerned about tbh.
The article dates from 2019 so not really news.
It does highlight the risks posed by anonymous posters on a bulletin board - we know nothing about Kwadoku / VulcanBob.
Both Kalengwa and Eureka have been removed from Xtract website, and there is no mention of them in latest corporate presentation so not something to be unduly concerned about.
Personally Dani no, their posting history shows one of being very anti CB ‘beyond’ the few recent copy pasted onto GLR! There is an ‘apparent’ dispute in ownership of Kalengwa but maybe one that xtr felt was worth getting a foot in the door with KPZ for. Geordie would maybe be in a better position to comment I think but to start speculating and writing Kalengwa and Eureka off by trying to read between the lines is foolish until an update is released.
Adrenalin rush you say! Definitely not an adrenalin junkie, scared of heights, speed, wasps, wife,…..but my reputation for being over optimistic does precede me…apparently
Relating to the deal with KPZ and the ‘legitimacy’ of the disputed ownership. Will see what comes next month when the exploration license is up for renewal. 1st April
Could by why Kalengwa was subordinated
https://www.lse.co.uk/rns/XTR/comment-regarding-zambia-media-reports-ydfyagthppx9udd.html
Btw Vulcan bob is likely one of the same as pops/kwak multiple disruptive accounts. His history is in exact same copy pasting style and content
Shame on you.
Vulcan bob it’s a sponsored article so biased it’s blatant
For Kwadoko: https://www.lusakatimes.com/2019/08/02/you-are-the-company-you-keep-a-tale-of-two-mining-companies/
I share your views on Bird Kwadoko! However, he is beloved on the GLR`s BB - he can do no wrong. As it happens, for the last 2 days there have been no entries on the GLR Board. Accordingly, I couldn`t resist copying some of your inputs from today`s XTR. Hopefully, it will generate `food for thought`.
Further on the subject of Bird, on the GLR BB I highlighted some articles from the Lusaka Times which showed him involved with a high-grade villan of the first order in Zambia. The articles covered in some depth how Bird was involved with the villain in question in taking over a mine. Surprisingly, much of the press coverage has now disappeared - I wonder why, and with the influence of whom??? That said, I have still managed to retrieve a much `sanitised` version from the Lusaka Times today. Disappointingly, a lot of the finer (aka juicy!) detail is missing!Zambia : You are the company you keep: A tale of two mining companies (lusakatimes.com)
I reserve my judgement Howezap
CB does appear to use his power words loosely " Tier 1 world class". Surely not all his companies have world class mines being explored. That in itself would resolve the copper shortage. Best i let Chinas leader know cB has cracked it
Good news for some then Docit another step forward.
Colin still managed to squeeze in a word for the oz team intentional or not.
It seems going on CB comment in the above they also have Tier 1 world class copper gold project.
I have them also like the rest of CB children
New podcasts out, unfortunately it’s for BZT