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Its great to see the comments, i see the tide of opinion has turned against CB and he has very little room to manouvre. He has been doing the same thing for so long and finally noone has any faith in him. But for sure he knew this time would come and has probably funnelled enough cash away for this moment.
Colin Bird’s AIM record (as of Feb 23):
Time he became CEO of BZT- SP 0.5….now 0.06
Time he became CEO of XTR- SP 10...now 1.9
Time he became CEO of Galileo 7.38...now 1.1
Just been reading through the comments. I havent been keeping track of all what is going in XTR but it seems our friend Colin Bird has been wasteful with other peoples money.
I guess he is of old age and thinks he just needs to keep this up for a few years before dissapearing into the sunset.
I cant imagine he thinks he can keep up his shenanigans indefinitely. The pool of people who believe anything he says is has grown very small now.
Multiple failures over his whole portfolio of cashcows...sorry, I mean 'businesses'.
Colin Bird has not had a single AIM success story.
Colin Bird’s AIM record (as of Feb 23):
Time he became CEO of BZT- SP 0.5….now 0.06
Time he became CEO of XTR- SP 10...now 1.9
Time he became CEO of Galileo 7.38...now 1.1
Just in case you have forgotten :
Colin Bird’s AIM record (as of Feb 23):
Time he became CEO of BZT- SP 0.5….now 0.06
Time he became CEO of XTR- SP 10...now 1.9
Time he became CEO of Galileo 7.38...now 1.1
Projects step forward, then 2 steps back, then sideways...never to fruition. SO he issues more equity, and moves to the next one where he tries to ramp yet again----> rinse and repeat
The man can talk for England, the Sunday Roast is pure comedy and is dripping with the honesty and sincerity of a used car salesman with a cowboy hat, chewing tobacco, in Texas.
What he DOESNT produce, is results and completion.
"Tbh I'm not interested in any other projects apart from FB and Bushranger. And I'm not interested in presentations, promises and mission statements or CBs excited interviews now.
I now just want to see results. Hes had long enough."
Dude, this is Colin Bird we are talking about- he has been playing the AIM game for years. None of his companies have any real progress- they just pay him a [tax free] salary. Its a transfer of wealth from the poor (us) to the rich. Colin Bird is a reverse Robin Hood.
When Ascot was discovered one of the distinghuising features of that resource, which allowed it to be identified as a new porphyry was the presence of molybdinum (Mo). I see that the price of Mo, which had been roughly 4 times the price of copper not too long ago has recently reached around $90,000 per short ton. Now maybe the Mo detected was merely traces of the metal which were not present at RC but at that price you don't need much to make a big financial impact. Think about it, with the price heading in the direction it currently is, you only need to find 10 tons to generate $1M! Now, I accept that different milling equipment may be needed which means a big investment and also the ore has to be processed but it is already being dug up and processed for the 6.6 lbs of Cu that would be found in a ton of 0.33% grade ore.
At some point the trace Mo present has to start becoming economically viable but we have never heard what levels of Mo are present at Ascot.
Just wondering if this metal will play a role in any miners sums when it comes to deriving a value on BR.
As a long term holder now sitting on large losses it seems nobody is believing Colin with his over positive interviews with the shares back to its lows and 300 shares trad ed today
Have no choice but to hold but do now find those interviews with Zak Mir and Sunday roast just annoying
Hi dani… sorry..,ello ma ( in the voice of nick cotton) if you are not an 80’s lass living in the uk at that time then ignore that.
My prove viable comment was more me being rhetorical than critical of your valuing. Yes I believe we are on the same page.
How I understand it, it is not necessarily about finding the price point the high grade resource shows a positive NPV. But at ‘what’ amount of resource is required to break even at various copper price ranges to see how further, the economics can best be improved on and with what needs to be done to take the resource toward the next level.
So yes I would tend to agree with you. IMO it is ‘not’ a case of wether or not it will be viable, it will be a case of just showing how much potential there is to push the project further up that value curve.
Thanks for sharing that ,
>>1968: First production at Aitik. Initial production rate is 2 Mt/yr at a head grade of 0.51% Cu.
That suggests Aitik early years concentrated on the copper first in a relatively small operation. At what was back then, considered a low grade, The copper price when Aitik completed its feasibility study in 1965 was based on price range for that year of between 40-60c per lb, is in line with todays inflation adjusted price with average of 3.96% increase per year since then. Cumulative of 849.75% over 58 yrs making 50c copper price in 1965 worth about $4.75 today.
But as have said before on here, with the increased demand over the years that saw the previous high reached in 2012 of $4.62. With the inflation adjustment it would need to reach $6.02 just to be worth the same amount. So with unprecedented demands expected to increase over the next 10-20+ yrs higher prices will ensure copper futures support viability of lower grade large bulk mining and short term, could even increase BR’s mineral resources as economic cut off grades could reduce further.
Worth a scan if you've not already.
https://www.boliden.com/globalassets/operations/exploration/mineral-resources-and-mineral-reserves-pdf/resources-and-reserves-aitik-2018-12-31.pdf
2017 - Total - 1 148 000 - 0.14 [g/t au] - 1.2 [g/t ag] - 0.22% [cu]
2018 - Total - 1 161 000 - 0.14 [g/t au] - 1.2 [g/t ag] - 0.23% [cu]
Shows BR could well still be profitable when the near surface 'high-grade' shiz is depleted.
Hopefully Bird is not BS'ing us when he stated the near surface volume could pay off capex in 4/5yrs. Decent bit of profit after that then go deeper if cu price is still decent, which it should be.
Only other 'near term' energy solution will be RR's SMR reactors and they are years away from being up and running.
Yes Ma i get your drift lol
Been heavily involved for sometime and have followed all that you have.
We know what we have minimum at Oz however until someone buys this for the liquid stuff then we cannot apply the cash is king scenario. We know it's there but still in the ground. Probably too big of a project for a minow like us to take on board. Therefore at present this remains in the non tangible bracket ( My opinion ).
As for the rest, yes agree that is tangible but not enough for confidence and to take up the Mcap value to the levels that we are all hoping for. Perhaps undervalued at present which i would put down to the current climate conditions.( Not refering to the weather either).
Another contributer i would say is CB who consistently doesn't meet tme scales which should be easily managed by himself . Maybe if he was a little less excitable then there might not be so much disapointment on expectation. All being said, i'm happy to keep topping up at present. PS i like you too.
Need to prove its viable first!
Very confident though, we will see favourable break even points across the range of copper sale prices from the high grade material that will hopefully be what shows BR to be economically viable.
Other examples locally, Cadia had far more gold initially and with Boda, it will be its really high grade breccia zone that comes to surface that will make the resource initially economic to start up. Elsewhere as a better example of a copper dominant porphyry deposit, when mining at Aitik in Sweden started in the 60’s I believe, it had a small reserve of 50mt, by 1998 the mine had yielded 300mt of ore. As of November 2009, ore reserves were 747mt grading was consistent still at 0.25% of copper and 0.14g per tonne of gold Copper is and has always been the most valuable commodity in Aitik, accounting for about 80 % of the revenue. The second is Gold at 15%, followed by Silver at 5%.
Aitik was small scale at first that grew its operation massively over many years, BR will be taken to market with about a billion tonnes resource with economy of scale.
A significant factor to consider too, Ascot, could play a big part in contributing significantly to the financial model if needed, to improve on the economics, with the gold systems being bought into play along with establishing the high grade crown which is still to be found. Is very reassuring.
Hello Ma
Good to meet you
Totally agree with you
The only issue is, we don't have it to touch and feel yet.
That's where the problem lies (unconfirmed assurances )
CB is selling the dream and a nice dream
Until he makes it a reality , it will remain a dream.
Myself, i will continue to top up as the gamble is a fair one and tips in our favour.
In for a penny as they say.
Well worth investing iffff you can afford to lose it ( My wise words ) or stay as you are.
Value-
Was mentioned that AA will want to see the hard numbers and that the company are heading toward funding. ( Xtracts 20% contribution ) The reality of that could attract greater project value.
“Viability over quantum”
>>>The ability to attract funding for the capital expenditure and initial working capital requirements of a mining project is also crucial. Projects with a funding solution in place are inherently worth more than ones without.
Valuing-
Is very likely the NPV will be derived from a DCF model.
PFS -
You can start to see where the quality of the work and the project decision making from the experienced team comes into building the resource and why. In the past CB has spoken about what the team are doing with the quality of their work being second to none with the data pack they are putting together that will be good enough for any major.
-Valuation of projects
https://insights.csaglobal.com/valuation-of-exploration-projects/
-Why pre feasibility studies are important
https://insights.csaglobal.com/why-pfs-really-matter/
-Market value v NPV
https://insights.csaglobal.com/market-value-doesnt-match-npv/
Rolls Royce is tangible
The Rolls Royce may look great, but lets hope if you lift up the bonnet it has an engine in it :)
For those interested I was informed a few years ago that a outlet like Proactive would charge a company circa £30k a year for their 'services' this would include media interviews, written coverage and 2 presentation events (usually in London)
Every now and then you will see an AIM company issue shares to what they describe as ' a service provided' often to the value IRO of £30k.
Over recent times I have noticed companies prefer to spread the PR across a number of providers, Stockbox, Crux, Sharetalk and Roast come to mind - my bet is a company will budget £30k-£40k for PR.
Cost for a stand at the UK Investor Show as an example was IRO £5k for the day a couple of years ago, more prestigious events over 2 or 3 days like Mines and Money were circa £20k.
I would imagine a 30 minute interview by Roast or Zak would cost a relatively modest sum therefore.
In all honesty, ‘any’ good news is still going to be wasted in this economic environment right now, yes it may create some immediate buying pressure, but as we have seen over the past six to 9 months, it will inevitably pull back again under what has always been minimal selling pressure. So when tighter monetary policies are eased and there is more stability in leading economies, buying confidence will finally return.
An RNS to announce a company asset presentation? Current investors will have all they need to know already and potential new investors should be making the company website their first port of call anyway, so I don’t really see the benefit.
A question for Bird at the AGM, I'd like to know how we are paying them too! - Could well be the roast team dumping shares of late...
So what are we, shareholders, paying Roast & Zak for in their PR role?
"Right individuals in place across all his companies......"
Problem is that a lot of those capable people are sread over many of CB's companies. Do a spreasheet, companies, obviously not all 20 +, across the top, list of directors against each company below and look for commonality!
Well well, Dani Baker, used to love him on the radio in the nineties
CB has the right individuals in place across all his companies with the specific capabilities, values, and experience to manage and move projects forward. If he couldn’t keep on top of his own workload across his various companies, he is astute enough to do something about it. If it were at the detriment of any those particular businesses. ??As an example, he stepped down from jubilee metals as at that time he felt a more suitable candidate with different set of skills would be better for them in the next phase of their evolution as a company. CB admitted his skills were more appropriate to companies which are at an earlier stage of their development.
He has vast experience needed to grow xtract into a ‘sustainable’ mining and exploration company, now that the company is at a pivotal point in its own development. There will be increasing, positive cash flow to sustain that growth now.
Succession planning, I hope not! Just be another CB, spread so thin he would be hardly visible, as CB is!
MD of a company in the Nordic area and talking about Zambia, how does that work?
What CB’s companies need is individual attention, not “today is Wednesday so it must be TIR” or such like. Less of the thin spread and more attention to getting some shareholder returns, sadly lacking across the board of CB companies currently.