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I honestly think a dividend is appropriate here after all the pain the locked in long term holders have had to suffer. The cash will be wasted otherwise on punts.
Oct23 or Oct22? I remember the roast crew and Colin kicking some serious numbers around on Manica 3-4p per share on its own if my memory serves me???
Anyway, back in now as copper feels like it’s turning, there’s a serious chunk of copper in BR, there’s a pile of cash in the coffers, so regardless of Zambia outcome, looks good to me (apart from trust levels)
I also think that the team have found something whilst exploring the licences since Sept23, and need to start locking in funds to explore quicker whilst it’s ‘hot’ - no way CB would have been able to raise without serious dilution and it would have been stupid to highlight before sale or he’d have lost negotiating position.
Bring on the rollercoaster!
I however, was more drawn to “awful acquisitions that will diminish any value” Won’t argue the point but just consider all operating mines started out as a ‘hopefull’ acquisition at some point. Can’t just give up because of a few duffers.
On that reasoning, perhaps should have taken a wide berth from Manica after the Chepica disaster.
Aitik mine in Sweden started out as a small scale mine with only a 50mt reserve of ore. It grew over many years of additional exploration to increase its reserves and scale to what it is today. Someone took a punt early on.
All I got in response to that smorrisjones, is.. hope springs eternal...
...and Zambia is 'hot property' now, which helps ..... and hopefully Mr Bird has learned from the more than fair share - imho - of mistakes made over the years I've been playing in xtr.l
(and from share prices in other Co's in his AIM stable, I can only guess he's had rafts of 'learning opportunities' in those companies over the years too.. and I'll include the contracts he signs for the projects he punts on too btw .. eg Copperlemon JV contract(s) are not sieve like, hopefully ... Generally, the cumulative extent of the 'learning opportunities' Mr Bird has had across all his AIM companies over however long since his big win back in the day must be reaching epic proportions.. here's to the laws of averages helping xtr.l shareholders get lucky this time round, very please)
So another chapter ends. Just hope no one bought on the Roast podcast last October. Colin was full of praise for Manica and how much it was worth to XTR.
We have a Mcap of 9m ATM. we should be worth that nearly in cash, the SP should be 2p at least.
I haven't added up what Manica cost us in purchase, dilution, Capex etc over 6 years.
More that £15m ?
Was it a success in the end then ?
Was it worth it or just something to pass the time ?
Anyway onwards and upwards Colin, get that PR machine running in Zambia, we need the money.
Dont you worry. Colin will spend it all on awful aquisitions and all "value" will be diminished.
Disposal done and dusted, can only ask yourself if you genuinely believed that a share price uplift of any significance would have materialised from sticking with phase 2 of the mine development? On its own merit, it would appear to have ‘not’ done so far, therefore probably wouldn’t have improved share value much more considering the investment required toward the next phase and likely dilution.
Any value returned would have only come from the limited funds remaining, and after company operating costs are deducted toward other project developments.
Now, at least there is not that burden with all the associated risks involved, so the company can now step up its exploration activities with greater confidence of fulfilling its objectives and with a far better chance of returning some well deserved value back to us shareholders.
“am all for comparing my performance to any buy and hold player here that wants to..”
Ooh clickbait!
I’m up for that challenge MtM I reckon I’ve definitely ‘lost’ more money on AIM than you.
I do agree with much of how Jezz sees this share, in fairness.
I've no idea whether you do gear or not, and apologies if I've offended you, Cruella
Some more waffle to finish, for the hell of it:
Fair enough if my post is too waffley to you ...and too waffley and pointless to Irish demon ...and sundry others - they provide a filter button here for a reason btw - but, I'd offer that if a range trader out there looking in here for the first time nowish, has a first involvement here tomorrow morning - or first involvement for their new 'trading pot' here even - and he/she can get say 15k gbp worth of these at 1.15p ish .. and has a target of exit rate of say 1.5 p.. and they get to it in the coming weeks/months .. which I think they have a decent chance of doing... and then walk as a rule.. then they're doing well by many definitions, and especially versus the cesspit that is AIM generally massacring medium/long term buy and hold players as a rule, with xtr.l a fine eg of just that..... and I'm thrilled to have played this share in a range trading fashion for years now.. and am all for comparing my performance to any buy and hold player here that wants to.. be that historically or going forward from today from current in play bets ..
Total waffle and pointless
Or you just put me on filter ....... and you go and do a NEW THREAD of gear later instead of a NEW THREAD here, Cruella :-)
TOO MUCH WAFFLE NTM
later will do NEW THREAD Which with joint effort we can put rough forward value on XTR
watch my space
Yours cruelly
As -predominately but definitely not exclusively - a range trader, there's no way I'd sell any here at sub 1.5p.. that's still sub 15m gbp market cap, which is harsh still imho.. (It's sub 10 m gbp right now which even including substantial lack of trust in Mr Colin Bird is extremely low/ bottom ish of the range imho)
PS ; Getting more flexibility added into that Bushranger contract with AA should be a priority here now for Mt Bird.. so it becomes clearer that at least $10 to $15 m sell on value can readily be attributed to Bushranger right now ish... instead of the current 0 ( for increased Inventory and/ or further exploration drilling purposes BR absolutely has such sell on value and more right now.. and plenty more again as POC rises.. etc... IF there's better contractual flexibility with AA.. imho )
Also as a play on - my view on - rising copper prices into the future, I'd park range trading of at least 50% of my current holding here and see that as a 'buy and hold' play thru 24 and on into 25, at least (unless it spiked punchily - eg on early Zambia drilling results - and then I'd get back into some form of trading mode for that 'buy and hold' portion of my bet here too)
Howezap, on the subject of BR, I do believe that at some point this project will come to market. The dream scenario would be for the African projects to be fruitful and allow cash to be available to take BR over the line. Maybe prove Ascot up as, if memory serves me correctly, it was effectively ignored from the final external assessment due to lack of data. Even some basic exploration of the feature west of Ascot in the hope of identifying it as a porphyry even if no resources can be reliably assigned to it. All in an environment of 15K copper 😁.
Fully agree with that synopsis Cygnus,
re dirty mining, environmental impact and social acceptances of open pit surface mining in particular is rapidly changing and new mines will have huge hurdles to overcome in getting their permissions. Finding a concept centred around bulk sorting pre concentration that ‘eventually’ works is key in Oz toward those ESG compliances. Also is likely for new big mines to comply they will have to be powered by renewable energy. So BR in NSW will go on to have the best chance of ticking the boxes.
Majors are under huge pressure to clean up their act and projects will ‘have’ to be sought for their green credentials likely in tolerant jurisdictions over just to profit.
So don’t ‘anyone’ write BR off 😉
In the meantime while accumulating waiting for Zambian projects to mature more than happy for share price to stagnate.
Hey zap ⚡
You wrote
Been seeing across many different boards that folk are fed up for whatever reason and going to be getting out on the next spike. I wonder if any kind all sharing person could let me know just how to do that?
Need to forward value XTR ON 1 2 3 year basis
Want to do just this
May need your input
Back later
Granny on Gear ⚙️⚙️⚙️
Hi howezap, my investing stategy is currently based around the Zambia story and the copper appreciation theory. If wrong, I'll lose a lot of money but I can see the sense for the need for copper and the mining industry has been in the doldrums for too long. I have a 'green' disposition myself and maybe the mining industry is considered 'dirty' but without it the transition to green energy it is not going to happen. Zambia, both in theory and in drilling results obtained by numerous companies so far seems to be the place to look for copper so I feel confident my strategy is essentially correct, it's just a matter of how long do we need to wait?
Currently I see low prices as an opportunity to hoard cheap shares. GLA
I do the same when bored. You get the hot stocks like HE1 currently, whilst most just languish. Few buys and sells and any rises quickly sold into. I still have hope in the Zambian copper story, but to me 2025 is more realistic. And at what point will new investors actually buy shares in mining companies ?. Just wish I bought Nvidia instead.
Subject seems appropriate
Been seeing across many different boards that folk are fed up for whatever reason and going to be getting out on the next spike. I wonder if any kind all sharing person could let me know just how to do that?
Who does have a target price to rebalance or to want out completely?
I’m looking toward an initial 2-3 year plan from here to then re evaluate. No firm price target just accumulate whilst low for now.
Andrew444 I agree when you said CB is all out for a big find due to his age but GLR have 5 or 6 other prospects which are far more important than their NW Zambia licence. If GLR find dust it will be of little importance to GLR.
Come late 2024 and 2025 there will be multiple companies drilling in NW Zambia. One would assume Colin would release news quickly for XTR and GLR if the drill results are good. The majors will do things in their own time. So timelines will be a tough call. We are currently waiting to get an update from APF in relation to the drilling by FQ.