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Re bank of Dave
Watched that also. Great story and based on fact
>>Technically it would only have legal clout in an RNS but who would put out an RNS just to say that,
From half year audit report
>> Based on the assumption that Fair Bride operates within its targeted parameters and no new business is consummated, the Directors do not anticipate the need for funds to be raised in the twelve-month period from the date of authorising the consolidated information.
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As is common with junior mining companies, the Company in the past has raised finance from shareholders for its activities, in discrete tranches to finance its activities for limited periods only and further funding would be required from time to time to finance those activities.
Apologies for the copy n paste. It pays to keep those expectations in check for now.
I'll agree with that Cygnus7.
Jezzoo, I believe CB said that we would not need a fund raise based on the belief that a deal would be achieved with AA. If that does not happen then it is likely to be because the resource is a little too small for them in which case it makes sense to continue drilling. Then, depending on the income situation from Africa, a raise may be a possibility but that would be an investment in future wealth rather than a 'lets keep the lights on' type of raise.
CB has already said in one of Roast podcasts that there won't be a need for a fund raise for any further work at Bushranger.
Technically it would only have legal clout in an RNS but who would put out an RNS just to say that, CB doesn't RNS much ATM anyway.
Yes he just just needs to assure people that Xtract can self support operations now as this is why people are reluctant to invest let’s get the Zambia mine up and running and with 2 income streams from fairbride and Zambia let’s then get the open pit in Australia going 3 great income streams and we’re up up and away and flying
Is good to be optimistic Cela I certainly am too, until there is a reason, to be otherwise!
To see ‘no’ funds raised will be based on the assumption that Fair Bride is operating within its targeted parameters.
I don’t believe a placeing is comeing my gut feeling is the new copper mine Xtract has in Zambia is now operational and reading the RNS it is funded with cash from ongoing projects so no placement needed so all exciting and Xtract will be a copper producer
Buyers at 2.4p, We need a chartist!?
More creatively, on the back of watching Bank of Dave on Netflix last night I suggest we organise a Def Leppard concert as a fundraiser. I'm sure Colin would love to join the boys on stage and belt out a few.
In some ways XTR is growing up (a bit). We are starting to see an embryonic portfolio of assets / projects that actually mean something. The company is not an impecunious fly by night explorer with no pennies to rub together. We are generating meaningful (if not vast) income from Fairbride. And the company has no debt.
So, is a placing to raise funds the only route open to the company? Would it not now be possible to raise any funds required for Bushranger drilling or consultant work in a conventional loan finance arrangement.
Placings in small cap explorers are clearly a very emotive issue and seem to dent confidence amongst shareholders (who watch their often underperforming shares being whittled away by dilution).
Any normal moment in time and space, without the resulting global economic climate from various contributing factors, and quite frankly CB’s awful managing of project expectations, the release of the resource statements would have normally seen a healthy rise in share price. So surely, with an encouraging economic assessment the market cap will see some sort of eventual rerate.
So any planning and potential fund raise would follow at a higher SP anyway. It could be a possibility and more than likely that they would want funds in place to cover the cost of the PFS too.
When they announced the maiden resource for Ascot, the RNS stated "Following the updating of the open pit mining study, Xtract will determine the optimum way to further advance the Bushranger Project and advise shareholders and the market early in 2023 of the Company's plans for the Project." Any raise would need to come on the back of this and be sold to shareholders on the basis it will add more value during any sale negotiation.
That's true, I just wouldn't want a placing to come before the news we are waiting on, I very much doubt it would.
A further raise cannot be ruled out for certain. Could be dependant on the scale of the next infill and definition drilling the company are planning to do. There would be a requirement, to have the sufficient funds in treasury to cover the contractual obligations of that necessary phase. As was the case for the phase 2 programme. With more meaningful income being generated though, it would make a significant contribution this time round, and would hope any further dilution would not be a necessity.
It won’t be the end of the world if it ultimately gets the project nearer to a pre feasibility study, which are not particularly cheap either!
Hi monty, been a while.
>>>Just wondering if we may have an offer from an outsider. What would happen then? I suppose AA would have to match it to be successful.<<
With the legally binding agreement in place with AA it is highly unlikely that any other interested parties would make any offers at this stage.
Perhaps Steve has updated his spreadsheet???!!!
Of the trades reported so far, only one in the £10k region, and a few at £3k. All others £1k or below. So not a fantastic volume - unless there are a lot of delayed trades. I guess the price action could because of an impending RNS, but equally, given the relatively small trade sizes, it could be driven by FOMO.
Nearly 30% up in two days?
It doesn't happen for no reason but I suspect its not bad news :). Bring on the economic model that's economically attractive.
Well something is happening!?!? buys looking good
Doesn’t need a placing for day to day expenses, only if embarking on drilling program which CB says he not going to do.
Just wondering if we may have an offer from an outsider. What would happen then? I suppose AA would have to match it to be successful.
Sorry, I meant Dibs.
Jemgee, you are nothing but a troll. Registered since September 2022, I’ve read your posts and you’re as transparent as Mr Cellophane, from the film Chicago. Move along please & get back to your burrow. The fact that Lucky has agreed with your tripe is alarming, too.
CB just got 1 million shares on the open market, wouldn't have been the wise choice if a placing was planned, also FB about to start producing meaningful cash flow so why place now?