Xtract Share Chat (XTR)

Morning Xtractors.
If you are not trading, just keep calm and wait. Rampers and derampers just come and go. Not selling a bean until it gets to 20p. We are making a hole to the core. Funding in place, revenue flowing in. Have a good day.

Noah's Ark, there was so little English in that answer, I think President Macron would have been happy with it.

Anyone know what depth the EM and IP data is good for? It was obviously done some time ago and when I looked at it a couple of dats ago there didn't appear to be any indication of the specific setups.

Humb,

Any dip I’ll buy.

How much do you get paid per posts? Which company you work for? (I know someone who had experienced to use work for someone do the deramper etc) understandable you might need earn some money..... have you consider you probably better off do yourself by buy and sell make your own profit? It not too late.

Morning to all.... tickets getting golden tickets ( bottom drawer?) mine is.... this is not fainted heart should see what next 12-18 months will bring but of course there will be selling (loans), diluted and placing (very good reason) the stuff underground can’t moved but there.... overalls it positively but depends in next few days if passed 1200,1400 or beyond 1,600 then it will become messy (because big companies will act like VULTURE!!!!

Placing,diluted, etc..... depends on what CBird want or AA want (deal was done before drilling so has to be one option.....)

I can see .......VULTURES!!

Did not want to spoon feed the guy....hence the G.....either you know what’s happening around you or you don’t.....seems there may be a cloud burst upstream sometime soon.

Are you talking about Jordan Peterson?

http://dwh.geoscience.nsw.gov.au/CI/warehouse/raw/drillhole?project=MIN&site_id=020506

http://dwh.geoscience.nsw.gov.au/CI/warehouse/raw/drillhole?project=MIN&site_id=020465

http://dwh.geoscience.nsw.gov.au/CI/warehouse/raw/drillhole?project=MIN&site_id=020536

http://dwh.geoscience.nsw.gov.au/CI/warehouse/raw/drillhole?project=MIN&site_id=020535

https://www.asx.com.au/asxpdf/20070809/pdf/313wk004jpnzsk.pdf

Merc, I have been looking at this slide for some time now.
https://www.rns-pdf.londonstockexchange.com/rns/3902L_1-2021-1-12.pdf
Provided earlier on another thread here tonight.

Holes BRD001, BRD026, BRD008 and BRD009 give you a very good indication of what is to9 bne expected.
Combined with the indication of Monty that grades get better at depth and you have your view.
MS

CONCLUSION:
EDISON & HARTLEY COVER ALKANE [BODA].

THEY BENCH-MARK BODA WITH CADIA-EAST.

THEY STATE THE GRAND-DADDY*S JORC AND GRADE.

LACHLAN FOLD WILL NEVER BE LIKE OTHER ORE BODIES - THEIR TYPICAL GRADES ARE SIMILAR IE BODA VS CADIA PER EDISON.

So, if expecting better, it does not appear to exist yet.

News and Hydrogen here too, can only be a good sign. You can tell from my post history that im picky, takes a lot to spark my interest these days. XTR has it.

Hopefully there is no connection with Bushranger , Ned Kelly and Birdy

Good evening Mercedes man ,, its farmerlad from GGP, I no hydrogen here to very knowlegable guy , your totally right what you say ,haveing been in exsperianced the ride from day my self like you have on other discovery,, this has a good feeling looking like a mega discovery you do t find them ,, people think it all happens in one day ,, rome wasn't built in a day takes time ,, ggp took time but look were it is now I can tell you my 9m shares have been life changing ,, hey merc if paddy was here he may well be what would he say ,,, sit on your hands ,, ,,, NEWS keep up the good work great posts makes lots of sence simple facts ,, good luck all ,, farmerlad

montybox,

LoL - A bit too early to talk about capex. Cadia-Ridgeway a/c to the data is BLOCK-CAVING AND SUB-BLOCKING and that is cheap or cheaper, so no underground mining per Colin Bird. Mr Bird said that it is "PROGRESSIVE" block caving ie onion, peel layer by layer. [TICK]

SPOT PRICES
Given Racecourse is a copper deposit [more] than gold, then the demand vs supply is favourable given that copper is around $3.52 and upwards. Projection is $4-6. So, gold is the credit? I dont know what else there is because Mr Bird was talking about others but I didnt pay attention, so kindly check.

GRADES
Mr Bird, Executive Chairman mentioned in his interview of 12.1.21/15.1.21 that "MATERIAL;: EDGE OF HIGH GRADE ZONE." So more to come.

MORE HOLES
Of course that will come as per Bird as to next steps - WIDTH DEFINITION AND GRADES.

DEPTH
Cadia-Ridgeway went to 1,600m. That*s official. Normally they dont go down further than 2km drilling as that is another day per Solg.
If like Resolution [BHP/RIO] in the USA, the DEPTH can go to 2.5KM but I recall it has gone down much more in exploration.

STRAITS RESOURCES
In 2006, their revenue was A$982m so a big player at the time. Read what they said about Bushranger: "RACECOURSE, A LARGE U N I F O R M MINERALISED SYSTEM 1.5KM X 1KM with the potential to be a LARGE COPPER MINE [exploration work defined the Racecourse prospect].
Drilling has defined a LARGE CHALCOPYRITE COPPER SYSTEM with associated zinc and gold with VERY CONSISTENT GRADE FROM SURFACE. Mineralisation identified a gentle west ward PLUNGE that INCREASES in THICKNESS WITH DEPTH."

Straits sold Bushranger to Tooday, also ASX listed in 2007. The info and statement on Bushranger was in the Straits ASX ANN: Preliminary Final Report, 31.12.2006 [Accounts]

My Comment:
That is what XTR are finding and what Mr Bird is confirm now in his interviews and RNS*s on Bushranger. So, I go with the Straits report personally and what Edison says about Lachlan Fold @Cadia example in which they used to BENCHMARK BODA.

News, 19 Jan 2021 @10.30pm

https://www.londonstockexchange.com/news-article/SOLG/regional-exploration-update-porvenir-project/14718469?lang=en

P.S.
In the Edison Report i quoted in this thread with link given, they also said:

"CADIA Valley Mines JORC 38MOZ au gold at a GRADE OF 0 . 3 7 g/t au gold
& 8.3Mt of COPPER GRADE ----------0.26% cu COPPER."

"In general, the holes recorded significant gold-copper intercepts, WITHIN AN EXTENSIVE
L O W - G R A DE MINERALISED SHELL S I M I L A R TO CADIA East."-Edison on BODA, Alkane.

My Comment:
So, MunchBox54, I provide DEFINITIVE PROOF that CADIA , largest mine in Lachlan Fold, NSW, Australia had ------0.26% CU COPPER -----but your expectation for Racecourse, Bushranger [XTR] is 0.4-0.5% cu COPPER.

Cadia*s gold grade is also not all that high at -----0.37g/t au gold -----.

THAT IS THE LACHLAN FOLD GRADES. CADIA IS THE BIGGEST MINE AND DEPOSIT and even then its only the above grades.

News, Tues, 19.1.21

News, the dimensions of a mineralisation zone always matter. Grades, capex, opex, ease of extraction, spot prices all play a part.
Grades can vary dependant on the rock formation so more drilling is better than less.
More drilling is what’s required, a lot more, mobilisation of more rigs. The more proving up that’s done the more valuable the asset.
Cadia East has not been drilled to the bottom of the ore zone, they got to 1600m and stopped
From here on in it gets very exciting as the lower zone is where the high grades are usually hidden, more historical pressure, more heat.

Great research on Boda

P.S.

EDISON: BODA has DEPTH OF 1,000 METRES [STRIKE 1,000M].
VS
RACECOURSE, BUSHRANGER - DEPTH 1,047M [as of today, 19.1.21 and still going] + STRIKE OF 1KM. That is why Mr Colin Bird called it "THE MAGICAL 1KM DEPTH."
-------
PER MR BIRD TODAY , 19.1.21
"FINGERS CROSSED 1,200KM."

My comment:
Simple maths will tell one that if it goes to 1,600km say, then MINERALISATION TOTAL WILL BE MORE. 1,600m minus 1,000m = 60% MORE THAN BODA.

Hence why Cadia-Ridgeway*s DEPTH of 1,600 M makes it bigger [way bigger] than BODA.

DEPTH DOES MATTER -EDISON REPORT REFERS.

Nice prospect Mecr. We seem to be exploring in the same directions.
Care to share your route to £1.05?
MS

PROOF:
"EDISON RESEARCH REPORT: ALKANE RESOURCES:007 STRIKES IT RICH." -23 Apr 2020

Quote:
"In recent wks, Alkane has announced its drilling results from its B O D A prospect.
We can see the MINERALISATION e x t e n ds to 1 K M IN DEPTH and the WIDTH of mieralisation SEVERAL HUNDRED METRES.

Combined with an ESTIMATE OF 712M FOR THE STRIKE LENGTH OF THE MINERALISAION...we can estimate THE SIZE OF THE BODA DEPOSIT TO BE IN THE ORDER OF
--------------- 7 3 8 MT at a grade of 0 . 3 5 g/t [0.51g/t gold equivalent] containing up to 8.3MOZ GOLD and potentially worth up to 35c to Alkane shareholders."

At the time of this Edison report, the MKT CAP QUOTED: "A$397 MILLION" @ 68.5cents share price.

Link : https://www.edisongroup.com/publication/007-strikes-it-rich/26666

My Comment:
So, total strike for BODA is 1KM which is the SAME for Racecourse, Bushranger [XTR]
From the above, ONLY FOR 702m strike, estimate is already 738Mt - AA only wanted about 440 Mt from XTR.

Grade is typical for Lachlan Fold. Kindly remember that even for Racecourse*s JORC, COPPER IS THE DOMINANT metal and not so much for gold. So, add copper and gold to get EQUIVALENT.

Cadia-Ridgeway, BODA etc have a lower copper % and more gold. Racecourse is more of a copper resource?

So, that is PROOF that DEPTH DOES MATTER or else there is NO BIG DEPOSIT ESTIMATE. Logical that anything just surface over 1KM strike will not make a potential LARGE deposit. It is no wonder why on 9.11.20, the CEO thinks they have a TIER 1, usually 1 BT. Already per Edison they had 738Mt for a 702m strike length. Width-XTR*s Racecourse is 250m vs 400m BODA but Mr Bird said going down, it is getting WIDER.

News, Tues, 19 Jan 2021.

Having seen this scenario play out a few times over the years (SOLG / GGP to name a few) I got round to doing a bit of digging, and some math. The opportunity here is staggering, IF.... grades come out ok, and its got width to it.

£1.05

munchbox54

What Mr Colin Bird said about DEPTH appears to be correct.
If you do not get DEPTH, then tonnage is NOT large?

It is generally known that if it is a surface deposit, then you need a STRIKE OF KILOMETERS spread out land wise. Example, one of Alpala*s sister co has a strike of 80KM with a surface discovery. They have only drilled a fraction of it.

Alpala is a world class Tier 1 as many of their holes go down deep but starts much, much further down.

On Twitter, #xtr one poster quoted BODA and their AVERAGE OVERALL GRADE IS 0.35 % cu EQUIVALENT.

At this stage, Bushranger with the 1 deep hole will NOT provide OVERALL TOTAL GRADE DEFINITION YET. Colin Bird said in one of his interview that copper production comes from PORPHRIES of 0.2%, 0.3% & 0.4% CU copper.

Stockhead.com.au explained in one of their articles that for porphyries grades of 0.1% Cu can be economic in relation to the article on BODA.

If you look at Havieron, Newcrest had drilled a few holes but their spacing made them miss the stronger mineralisation. Then GGP bought the Havieron licence, did further geophysics and then drilled and got some GOOD HOLE grades but some not as spectacular. Hole 5 was good.
Newcrest has now drilled tons of holes and did the MRE with tonnage and OVERALL GRADE.

Same for everything deposit. So, it does start with DEPTH. The copper expert on porphyries will be quoted by Colin Bird shortly.

However, if that is your expectation, then BODA would NOT meet your criteria as its only 0.35% cu EQUIVALENT [copper + gold mixed].

Have to provide a comment as you addressed it to me and that is my view only.

News, Tues, 19 Jan 2021.

So, it will continue to be ABOUT DEPTH per Colin Bird ie the 1,100m is the DEFINITIVE to start with. ANY FURTHER PROOF? BODA- their DISCOVERY HOLE MADE HEADLINES WITH 502M and the DEEPEST DRILL OF 1,167M WAS A CO MAKER IN THAT IT EXCEEDED 502m.

Same for ALPALA. Go to the co*s website and click on the latest presentation. There one can see the Alpala Hole 5, 9, 12 and a few more MAKE THE RANKING among the MAJOR*S FINDS ie meter DEPTH.

Munch,

Depends what you mean ‘shaft’ .... have you read RNS?.

Some point it will happen if the drilling goes well and there is few options (from AA deal) look out page 12 and d). (7.5$mill) but that still bargains.

https://xtractresources.com/wp-content/uploads/Bushranger-Summary-Presentation_April-2020.pdf

News ... to be honest it’s not the depth anymore we should think twice about.

We know it’s big and long may it continue but all attention turns grades .... we need it to come in around 0.4% - 0.5%

I can see a slight pull back in the markets tomorrow so am prepared for a small dip but am long and strong. ..... just don’t want birdy to shaft us with a raise or rubbish grades.

Good luck.

I just listened to Mr Colin Bird*s interview today again quickly. Zak said there should be a LIVE FEED from the Lachlan Fold to the City of London.

He said they are calling in a COPPER PORPHYRY SUPER DUPER EXPERT whom he will be QUOTING.

He said Mr Jeremy Read will be talking to the audience about number of mines in the Lachlan Fold - PREPARE FOR SUCCESS -help our mkt place.

RACECOURSE: "Go so far - CONTINUOUS, 1KM MINERALISATION S T A G G E R I N G SO STAGGERING CALLING IN A PORPHRY EXPERT.

"HOW CAN YOU NOT BE EXCITED. WAKE UP - 1ST CALL." [Bird]

"LACHLAN FOLD - ONLY 3% GO OVER 3 0 0 METRES. 1,100M CONFIDENT OF BIGGER ONE -CADIA RIDGEWAY - NORTH PARKES, SOLD TO CHINESE FOR $800M."

My Comment:
So, its the DEPTH OF THE MINERALISATION THAT IS THE DEFINITIVE.
Fingers crossed, 1200m, Bird added.
TOMORROW- WAIT FOR NEXT UPDATE.

News, Tues 19 Jan 2021.