George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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'I just cant believe anything that Colin says anymore.''
As I've said before, its not a case of you can't believe anything CB says - but you can't believe everything he says. The problem with that is you don't know which parts to believe or what he has just said is correct or not !
He must have really believed that this was going to do well as he bought £185K of shares in the open market at an SP way above current price.
We have FB up and running and a massive copper asset which has to be all down to CB. But his timescales and forward guidance and expectation management have been shocking.
I said years ago before Bushranger - add at least 6 months to his time scales and half is output predictions and you will be nearer than his forward guidance.
But that doesnt ,mean he wont eventually delivery value sp appreciation - just not in the pathway or timescale he has implied
AIMHO
I think a few including the market will have to digest RNS 1st as it is a hard read and not obvious that it’s just a start.
Couldn't help myself, bought some more today.
All l want is an rns that makes the share price go up and l mean UP!!
Hi ZM
I’m puzzled about what the welcome news was today on fairbride? The alluvials and small hard rock is ticking along, explorator share seems to have decreased Q on Q (in % terms). Fairbride production for the quarter seems ok but who knows how much if any goes to XTR and weirdly no mention of how things progressed in Q4 or at least up to end of November etc.
Cheers
James
Give it a rest. Going over and over the same old dissatisfactions won't make them go away.
Far more interesting is to focus on where we are, what we expect and, maybe, what we hope for. Reset your expectations based on 'now'. You will be happier.
Welcome news regarding Fairbride today (although of course some will find a way to whinge about that too). XTR is making a profit. And we have an area of ground in Australia we know there is a large amount of copper buried in. And PoC is on the up (as is the global demand, with no ceiling in site).
Learn from Harry ... everyone tires of the incessant whingeing once it has been done to death already.
Seeing as Mr Bird looks at these boards i hope he watches that you tube clip , !!, no denying what he told the room that night , no wonder there is no confidence in XTR ,
Must have been talking about another racecourse that night and another Ascot where the geophysics is way better.
A reminder:
https://youtu.be/1oWPcWmRvUo
>>capability late Oct 22 ish versus a cut and paste I did from an Empress presentation around then saying year end ish for that.... So he was originally overly bullish on Fairbride, for the record.
TBH those, to me, minor BS comments I can forgive.
Now telling, shouting from the rooftops, SH's that we have a T1 asset and that the 2mt was in the bag at RC alone is unforgivable. The current SP is a clear statement that the market no longer trusts CB in any way. As others have said, really time he brought in a replacement.
''I just cant believe anything that Colin says anymore.''
Many - many - would agree with you on that LittleWing, alas.. but people like Andrew help give more real world expectations here at least.. and much appreciated to him for that.
And the assets are good here, I still firmly believe .. and over the piece that counts for plenty.
Aside: A fair few months back, I have clear recollection of posting a comparison from a podcast comment by him on his thinking that Fairbride might be getting towards full production capability late Oct 22 ish versus a cut and paste I did from an Empress presentation around then saying year end ish for that.... So he was originally overly bullish on Fairbride, for the record... lest he be accused of inconsistency. (He shut up on this subject quickly thereafter for clear reason) Generally, he has been extraordinarily consistent in such context since i've been involved here, in fairness!
As nobody else is going to have a word with him, I hope this new year he sits down and has a word with himself.. and the only proper answer imho is, as decent revenues are starting coming in, it's time to bring in some high quality management resource and delegate far more ownership to them (across all his AIM listed companies)
Yes I forgot that we can get the true picture from Empress, hopefully regularly like they have been reporting. I just cant believe anything that Colin says anymore.
Empress reporting may well continue to be more plentiful on this than xtr's .. and it gives some decent reads across LittleWing.. so Cb may continue saying little on this subject as a rule, I guess.. (as perhaps little/no opportunity for exaggeration of expectations by CB on this one :-))
Not now having to report so often gives him scope to continue to exaggerate expectations just when we would hope otherwise.
Not only no spin on what seems might easily be good more recent progress on Fairbride 'Ard andmillsy, but instead of quarterly updates which I would have expected now and which might easily be helpful to the s/p around this time, we get :
''We anticipate that the financial results from Fair Bride, where we have a 23 per cent. net profit share will initially be reported semi-annually."
(Just for my clarity can someone(s) yeah or nay if that means a next update from xtr re Fairbride 'Ard sometime after Q ending 31 st March 2023 btw ? ( as opposed to sometime after 30th June 2023 for eg ))
Another of the endless eg's of CB being a law onto himself imho ....and the thought of him feeling concerned about getting his wings clipped seems for the Birds....
I'm sticking by my previous calcs that we will be getting 23% of a 40% margin of FB.
So at 80KG a month that will give us circa £350K clear profit. Not as much as some have said (sorry Dani) but I think thats realistic.
So q3 1136 oz from FB gives Xtract 104 oz = $188K profit = circa $62K profit = circa £50K profit. Low as low grade ore being processed in first few months.
Will keep increasing each month but will take a few months before all issues sorted and up to full capacity.
So all the news we were waiting for is out now. I wonder if Bird will buy shares on the open market now (Kev, of Roast fame, mentioned Bird did want to buy a few months back )
My biggest surprise was no spin on how quickly it is ramping up. We have a good idea from Empress public info.
Looks like 62kg produced in Oct by my reckoning.
Statement by Empress "MMP has advised that the Company has earned royalty revenues of $185,800 in respect of the Manica gold mine from commencement of production in July 2022 up to and including October 31, 2022"
$185000@3.375%@$1750 per oz =3132 troy oz = c97kg cumulative gold produced to 31 Oct.
Looks like Alluvials is running down as CB stated at AGM, but good news is that small HR deposits at Guy Fawkes and Boa Esperanza are ramping up.
FB may take a few more months to be at full production but production will no doubt keep increasing.
XTR IS the Explorator.
How much is XTR's cut from those Explorator figures ?
Price down
Before xmas I would have been happy with 10p but I agree with Ntm that 5p seems a high end target now.
Good production figures imho
Nope, cant live with that needs to be 10p plus