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At least there’s something else in the pipeline to look forward to.
Be it late or never in some cases.
Roll on 23 as 22 has been that good for returns
One of these days I fully expect these charlatans - by which I mean both the podcasters and the dodgy CEO's - to make a goof and bring what is obviously a pre-recorded podcast out before the relevant RNS is even released. That will finally catch them out of what is little more than dodgy insider trading.
Today the RNS was released at 3.53 pm and then, within a mere 37 minutes, the 'crafty' team from the Takeaway Podcasts managed to drop whatever they were doing and read and analyse the RNS. They then managed to locate Colin Bird - I have heard at various times that he lives in Portugal, or the UEA, though he sounds as if he just lives in the north-east of England - who just happened to be free and completely ready to immediately do a podcast. All very unlikely in the real world!!
This podcast was then recorded, edited and brought out as The Midweek Takeaway (luckily they had this slot ready and waiting) within, as I have said, 37 minutes of the RNS being released. Wow, what a performance.
Unfortunately, this sort of slick performance is not possible, with the more likely scenario being that Colin Bird contacted the Takeaway team several days ago and informed them that he was going to be bringing out an RNS. In order to get a podcast out on the same day, he was asked or maybe he volunteered to provide the Takeaway team with a pre-published copy of the RNS which allowed them time to read it and analyse it, swot up on Zambia and the contents and then record a podcast, all wrapped and ready to be brought out almost simultaneously with the news release.
Fortunately, the content was not very hot, except maybe for Mr Bird, and the share price was not going to and has not risen by any great amounts. Of course, if it was hot news and doing the podcasts in this dodgy manner, then the people who were privy to this advanced information and their mates would have had a day or two or three to buy lots of cheap shares in advance of the release, only to be ready to offload them for a tidy profit as soon as the news came out. There is no way that this podcast could have been prepared and released within 37 minutes so they must have seen the contents in advance. This is not fair and is clearly a case of 'insider trading'.
While it is very useful to have these podcasts, I do not feel that the presenters should have the opportunity to see them in advance and to 'insider trade' the shares.
BS baffles brains
indeed Cygnus.. and here's very much hoping it is .. but it may not be either.. so 2 or 3 million USD more for an Ascot focused further drilling exercise would indeed be fine by me... but maybe no more spend on Bushranger exploration after that full stop
NicetoMichu: as somebody else said "Ascot may well be the daddy of the local system".
Thanks for posting Andrew and good interview CB.. I'm reasonanbly excited by this and very excited by Fair Bride and think the current s/p is joke low now ..
(The Market Cap here is currently only approx 15m Gbp... And I will be putting my money where my mouth is by increment from soon enough on forward..)
PS: Lets not forget that Bushranger is too big a beast to fit with the companies existing stated strategy.. so CB needs to examine all options comprehensively before committing too much more to further Bushranger drilling imho..that said, 2 or 3 million USD more for an Ascot focused further drilling exercise would be fine by me still though
I'm getting old and deaf but I didn't hear CB say that this time. Think that was a sarcastic joke by G 600.
"Looks like a world class T1 asset to me......"
Wonder where we've heard that before? Hoping this isn't another Colin Bird deflection
Apologies investing 100 in that case, although I must question your timing then after the recent rerate. Bit touchy that’s all.
Certainly no offence intended.
Podcast•
More news from down under to follow, and hopes to speak again before Christmas??
Fairbride plant is ramping up with ongoing plans for increasing the mineral reserve and sulphide plant potential.
2-3 years certain cash flow minimum from Kakuyu with good potential to extend.
https://audioboom.com/posts/8215262-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr
Good to hear we are looking to expand FB and build on what we have.
>>Wasting our money on impulsive purchases.?
Either a deramp or the most uninformed or naive statement.
These acquisitions are important for future cash flow into the company to secure the needed sustained growth of the production side of the business in line with its growth strategy. They will be cheap to pick up at this time of economic turmoil as these small operations will find it so difficult to go solo and secure the funding to get these projects cash positive. Xtract are very ideally placed. They are of no extra burden to xtract as a project manager will be appointed.
That type of RNS would have seen the sp move up in previous years. Many getting excited about the potential.
Not now.
I think the market is now numb to anything other than results from CB.
I noticed this:
"with the intention of building cash flow over the near-term "
same thing said about Kalengwa and Eureka. The good news is we will have FB income so no raises to pay for this and worst case is it may only waste about a months of FB income.
Never know, this one may even produce some income! Lets see.
Looks like a world class T1 asset to me......
If we have money to spend on Projects and building small scale mines.....why are the team taking shares in instead of wages?.....
It's another form of dilution and also give thier pals for votes to control the company.
Maybe they didn't like of close the last vote was.
A reasonably well structured deal, and as promised not to heavy up front capital loaded and production ready. Small scale, let’s hope it’s turns good profit.
The company did say news on JV’s would be before end of year, so a pat on the back for the team and Colin.
Come on lucky don’t be so fickle ;-)
Don't care......look over here another project........forget bushranger blah blah blah
I've promised myself that I really shouldn't get too excited with these announcements after Kalengwa. Having said that I suppose I should wait and see if it delivers anything.
Kakuyu project with 60% interest to XTR
andmillsy... the transparency provided in the RNS is I think going to be another trust issue here. It seems to be the preferred way of reporting things that leaves it unclear what has been achieved. It irritated me that for example with regards to the alluvial figures XTR and Xplorator were exchanged in the reporting. Or the way the less valuable GF and BE deals were reported as gold produced rather than revenue for XTR. The lack of transparency needs addressing for when FB is finally reported. The market is no mood to give Colin the benefit of any "purposely built in" doubt.
Andy
Yes agreed but my £350k was at full production probably by march
As you say we won't be at 350k at the moment
Andrew 4444
MMP are still ramping up production and I doubt Q3 will be able to achieve this level of margin. A proportion of direct cash cost will be fixed.
Empress statement on revenue indicates production until 31 Oct was about 100kg.
The other uncertainty about the achieved margin will be the transparency provided in the RNS.
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. However, in accordance with IFRS 15 Revenue from Contracts with Customers, this revenue was not recorded in the third quarter financial statements as revenue is recognized when gold is sold to third parties. Empress looks forward to this revenue and additional revenue from gold sales related to production achieved during the remainder of the year being reflected in its year end results."
Dani "In the meantime if you can spell out how you arrive at £340k per month if MMP reaches 80kg per month in production that would be greatly appreciated"
You can't just ignore corporation tax (sorry I think I called it CGT before in error)
Assuming POG 1800
Production tax (6%) 108
Direct cash costs (CB said 560 official but call it 600) 600
Prod tax + Direct cash costs 708
Tax (32%) (32% of profit) 350
Net Profit per ounce 742
Margin % 41
80kg Gold a month = 2560 troy oz
Xtract get 23% = 589 toz
41% margin = net to xtract =241 toz
Monthlt profit in $ (assuming $1800)(241 x 1800) $433,000
Monthly profit in £ £351,00
CB said in an interview 2 years ago margin will be 40 to 45% for FB
We should know soon who is right.
hi dani and andy, there has been much said recently about the ability for xtr to achieve it,s goals for 80-100kgs per month. whilst dealing with my insomnia and a packet of chocolate digestives i have been giving this matter some thought and reading some older reports and rns,s . Much of the chat on the boards has been focused on empress, mmp and the cil plant and the assumption that all the ore has to go through the cil plant to achieve our 100kgs and how are mmp going to manage processing all that ore from the different parties involved . Now correct me if i,m wrong ,but on an older report it says that a lot of the ore from the satellite deposits is quartz vein hosted, ie free gold that doesn't have to be processed through the cil plant. boa esperanza, dots luck,guy fawkes and duque are mainly involved in producing gold concentrate which will be smelted separately from the fairbride ore and we then get our cut, which will be from 4 smaller deposits plus the alluvials and plus fairbride . I haven't gone through all the numbers but i am becoming increasingly more confident that the 100kgs could be exceeded when everything is up and running . Another little nugget i'll leave you with that i came across in the dfs for our licence, was 992,000 ounces for additional evaluation and exploitation. Its been a longer wait than most of us expected but i think 2023 is going to be a good year for Extract ! ( just need those results colin ) .
Dani, i,m glad you've been paying attention because Starsgroupsteve hasn't , lol , ;)
Dani
I really hope you are correct but that is not my understanding of how the agreement works. There is productions costs, CGT and mining tax to come off.
I am expecting 70 to 80 kg a month when we are at full production - probably by March. CBs guidance is always optimistic so I would be very surprised if it was over 80kg a month even at full production.
I am expecting circa £350K a month PROFIT (FB alone ex alluvial income) that's after all costs inc production costs, cap gains tax and mining tax. That may not be anything like as good as your predicted figures but it would be transformational for a small Aim miner and should see the sp back in the 3ps at least..
We should have an indication if your view is correct after first income declared with production figures. I really hope you are correct .