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>>Las Bambas copper mine in Peru had been operating at a reduced rate since December 7, after Congress removed and arrested President Castillo. On Wednesday, MMG confirmed that it would start a care and maintenance period. The copper mine accounts for 2% of the metal worldwide, and protests are threatening to hamper access to almost $4 billion worth of copper.
Castillo has been removed from office and detained on charges of “rebellion” after he announced he would shutter congress and install a “government of exception” – just hours before he was due to face an impeachment vote.
Nothing but another tin pot dictator who swears blindly he had done nothing wrong. Although I can’t help but think, bring it on!
>>Someone still determined to bail no matter the SP.....
Production revenues are likely to only increase. Doubt that is the reason.
Could have lost faith or concerned as to how favourable the economic viability of BR is going to show.
For starters if it is concerning, what will be reported soon is more or less the preliminary economic assessment, which is basically just a snap shot of the current economic potential that will point to where improvements can be made. So to try to second guess if this is not going to show good potential is pointless at this stage. We already know from RNS and podcasts that further definition and test drilling with other technical work will continue, that will further improve on the economics anyway.
This study that is due is ‘not,’ a wether or not study! BR has already had that one in the summer of ‘21 and it concluded that the Racecourse deposit contains significant low-grade tonnes of copper and gold which may be economically recovered at a copper sales price above US$4 per lb
Economic viability of any new project is constantly being tested all the way up to a definitive final study.
Someone still determined to bail no matter the SP.....
If we get a x5 from here I'll be happy
Frustrating waiting TBH and currently sitting on a rather larger paper loss. Opportunity is now to add more
On the subject of the license extension, monday @13.18 this was quoted from respected LTH Captainbob, who attended AGM in ‘21 referring to CB. Not particularly significant, but still worth sharing.
>>> At AGM he again talked about extension to 2024 and ‘beyond being possible,’ with comment, “if of course we are still the owners,”
A further comment from that AGM that could go some way to dispel some of the concerns that have been raised previously that the company should not be taking on any further projects until BR is sold.
>>> They also mentioned a few smaller projects in Zambia that they are looking to progress, (also further exploration in Manica, as most is untested, and area very fertile with gold, they have several targets,) to increase income for further drilling programs if required, but saying these in themselves would be funded from projected cash flow, and ‘only’ when can be done without detracting from Bushranger requirements.
If BR is being prioritised, there is no reason to suggest it would not continue to be, over further Manica drilling, dependant on treasury. So hopefully any further raise may not come. It will be dependant on wether FairBride is now or will soon be operating within its targeted parameters
Will be hoping for a ‘minimum’ ten bagger from here if BR can be sold on, putting the market cap around the 200m range. For GGP, the market cap would need to grow to 3.75B to have similar gains. You could ask at what degree of probability are each company likely to see those gains within the next year or two?
I have had plenty opportunities to take decent profits and have missed them all, becoming too devoted to the companies and thinking it could get better. Sitting on large losses now on all aim shares, all in junior miners. I am still hopeful ggp will save me. Was 500k up at one stage, now just about break even.
Here I will be happy to break even, about 60% down.
Yes GGP someone took out part of pension start of pandemic and made significant gain
not that it made me super rich
was EEN an aim stock 25p to 750p
Just out of curiosity has anybody in the group ever had first hand knowledge of anyone becoming super wealthy investing in AIM shares ?
Bruce, your article outlines why I would be happy for XTR to begin a phase 3. Not only would the BR resource grow but the squeeze on Cu supplies would boost the Cu price. A trend that is only just beginning. It punters are willing to wait then we could ride a wave into a perfect storm. It would mean a longer wait but the rewards could/would be lifechanging.
Showing +0.20p on ii. Hoping start of recovery albeit a cautious one.
https://aheadoftheherd.com/copper-shortage-getting-real-richard-mills/
Those who had to pull out money to pay tax bill have done so perhaps? Maybe we can rise now a little, please...
it's always darkest before the dawn (that wasn't code btw)
This share should never have gone under 2.5p imho.. So i'll wake up here when it goes back above 2.5p again.. and expect i'll post somewhat regularly thereafter..
Positive day again but very quiet here.
Never understood the need for having multiple accounts on LSE unless you are playing games or have weird intentions/trying to manipulate. Was it father ted /porv who had multiple accounts? The guy who claimed porphyries halfway up the Andes might be a better investment. He did say he'd come back to compare fortunes. Wonder how his predictions have gone..
Writing in code is ridiculous and just strange. Let's get back to normality.
Thank uk for that
Russ Ian Girl seems to have gone !
Good post.
At least it’s not in code.
>>>Clear indication of what the company have been working toward all along. And are still working toward where a PFS is concerned.
The JORC resource statements just quantify a resource and give the market an indication of scale of project. A JORC is not a validation of any kind toward value of a resource. The market, and more importantly, a potential buyer can confidently determine a value from the economic assumptions at Pre Feasibility study level of which Xtract will now be working toward once the impending updated conceptual study determines there is scope to continue to define the resource further. Then onto PFS.
Commonly the 3 main reasons you would do PFS is firstly, as a basis to commit to a large programme or development, secondly to provide a justification for proceeding to a final feasibility study, or, to attract a buyer, JV etc.
Projects are sold with just a scoping study, and can also be sold without any form of study being done. As BR has the inherited buy back agreement attached, a PFS will be a requirement to support the ‘Decision to mine’ to satisfy AA with the hard numbers that are backed up by the ‘greater’ geological confidence in the resource that a PFS is based on. ?
I believe CB has done a great job in keeping many investors (I include myself) hooked with his previous approach, but it will not wash with investors again.
It’s time for a more serious approach with greater transparency from CB if the project is (I’m sure it will do) continue through the next phase and attract new investors.
andrew
you raise some good points
my logic is telling me here could well be a fight for ownership
that should move the SP in our favour
i expect also that we are in the sights of a few big boys
sit back and enjoy the fun
DYOR gla to all LTHers
cat
Thanks chaps, it certainly made sense to repost the basic facts surrounding BR. This has been a long ride so far and for what we now know probably looking quite normal timescales for a junior to get it to where it is now despite all the hyperbole from CB. In his defence he has prob only done it stimulate interest and try to keep what are, in general, impatient investors invested. Investors do come and go and it’s not easy for the new arrivals to get to the bottom of the facts from quality research shared over the past couple of years. these projects clearly do take years to develop and early clues have always been there. This was RNS’d 15 months ago!
Drilling and license update
13th Oct ‘21
>> It is also comforting to have the exploration licence extension until June 2024. This is a significant amount of time for us to continue our exploration and feasibility study programmes, and take the project to the next stages."
Clear indication of what the company have been working toward all along. And are still working toward where a PFS is concerned.