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Drilling costs are estimated at approx AUD 250 per meter (from the bushranger presentation) so around GBP 150 /m. The recent placing was for GBP 650k, which would translate into over 4,300 meters. Comfortably enough to pay for the first 3 holes. We are only on the first hole presently!
There is also around 130 oz of unsold gold from Manica (this is from me tracking of gold produced vs sold since alluvials started)
I think there are around 27-30m warrants at 1.85p, which would generate gbp 500k if/when issued (appreciate this is dilution)
Then you have the alluvials and GF which I calculate will clear a minimum of GBP 100k per month at current prices, and fairbride from June ish at GBP 400-500k per month. I’ve excluded Zambia as there hasn’t been contractors announced via RNS.
So Yes there will be dilution in the short term (from the warrants), but other than that there is plenty of cash to drill the next 6 holes and run the company whiteout a fundraise.
There is $200K income a month due from GF +alluvial mk2. We should get that from February which should abate any talk of placings. Eureka should add the same monthly income in Q2 and we will be getting £400K a month from FB by Q3.
A lot of new posters have appeared recently. Understandably they may not be fully informed of all details concerning the company.
Dibs61. I’ve been in Galileo, JLP and XTR placements so I’ve seen my fair share of his antics. In fact I bagged XTR for the second time now. They are all good projects but he often talks up the optimistic side of how big the prospects are but never talks about cash balances in his interviews. He will need cash to progress. Also there are 32mm warrants most at 1.85p so you will get some of those RNS next too. AIM is a great place but I don’t want newbies to get spiked by the Twitter crowd. Be honest , the time to buy was 1.2 area . You think it’s as good a prospect at 5p? Eventually it may be worth 10-20p if Bushranger is that good but you’ve got some funding to get through first. Dic**ead I may be but I make good money doing this.
your not the only one, smart and brave move would have been to average down. unfortunately i lost the bottle after it kept dipping but have held on for dear life, i hope to at least take out my initial investment for a free ride finaly! :)
Already a fantastic result from Bushranger with 100s of meters of mineralisation and still more to come, in a world class jurisdiction.
We are in the midst of several very big discoveries (Cadia 50Moz gold plus 9Mt copper, one of the largest in the world to give some perspective on the area) being operated by multi-billion dollar companies.
Anglo having a buyout clause will be paying very close attention! Interesting times for holders. Potential here really is huge!
A placing will be required to complete drilling unless Manica gold play finally gets off its ass and delivers respectable revenue, so here's hoping Bird delivers on both continents, as then we're in for a big big ride
Valurebel - ‘TW getting out’ made me spit my coffee out as if that is an endorsement to sell?! Have you seen that guys portfolio littered with miserable failing stocks with lifestyle bosses. His ‘pals’. Come to think of it you’re not TW are you?
And are you trying to somehow suggest that 700m of continued mineralisation is a figment of the geologists in Oz imagination? I mean, yes, they’ll need funding at some point, of course they will but if its going to add shareholder value by funding more drills?? Bring it on I say.
He's playing you like a 70 year old veteran. It was a monster resource with the SP at 1.2p. No one liked in then when TW got out and you could buy plenty of shares. Now he's giving you RNS after RNS to drive that price up ..and what will you get? A nice placing at 4p having peaked at 5p? Good luck with that.
If drilling continues throughout the weekend and into next week ( CB stated he would give an update every 200m, inferring there were several multiples of 200m to come) it is my opinion that the Sp can increase by at least 50% prior to completion of drilling - and that will be a big discount to asset value.
Having been a long a time holder from Jan Nelson days, having average down etc I had £92,000.00 invested, have seen the ups and downs and various exit points come and go. I decided this time that I would sell when and if it Ever went over 2.00 so consequently sold at 2.5 giving me a total Of £40,000.00 just coppers under, selling effectively £37,000.00 short than if I’d sold today, this I can live with as it was a decision made and I stuck to, I really do hope that the long term holders can get out with an acceptable number, good luck all,
I would have thought we are headed for double figures for the SP now. This Bushranger porphyry find reminds me of Sol golds Cascabel project and just look what happened to their share price ,it was a multi, multi bagger. 1p to 40p.
Since no one is willing to share, I listened to the interview again for the 3rd time and put up the sound to max. I caught what Mr Bird was saying about Newcrest*s Cadia. I think he said that the mineralisation goes IN and OUT. At Bushranger [next door to Cadia], it is CONTINUOUS MINERALISATION. Ref: New interview today, Fri 15 Jan 2021 post RNS update on Bushranger].
I did mention this before as it depends on the shape of the "pencil" [norm in the Lachlan Fold per diagram in XTR*s Apr 2020 Presentation and Kincora*s Technical Director who discovered Cadia]. Hence, why Mr Bird said "Bushranger is unique" due to the ore-body lying on its side as per the last interview on 12.1.21.
CaptainBob, Could you kindly elucidate on Colin Bird*s late afternoon interview today, Fri, 15.1.21? I couldnt catch the part about Cadia-Newcrest, Gold part and Edge of High Grade Zone? Thank you. Or anyone else?
I don't think I actually spent one day in profit with this share - with my magic midas touch, as soon as I bought them, they dropped and its been a slippery slope since with one consolidation. I've been in for nearly four years I think. It haunts me.
XTR; COLIN BIRD INTERVIEW WITH ZAK ON SHARETALK [Post RNS,15.1.21]15 Jan '21
Mr Colin Bird, Executive Chairman, XTR: BUSHRANGER, NSW, AUSTRALIA [Lachlan Fold] Post RNS interview of today, Fri 15 Jan 2020. RNS was noonish and interview late afternoon.
Mr Bird: "Dont know where the BOTTOM will be. Extremely good. Material-Edge of High Grade Zone. Couple of days - Great Stuff. 820-825m now. Good news. Pyrite in association with COPPER, Chalcopyrite. Gold? Chalcopyrite -NICE BIG SLABS. Right in the middle of the porphyry. 700 METRES OF CONTINUOUS MINERALISATION. Pics for you as well, Mon next wk. Will report where we are on Mon, 18 Jan 2020. Zak: Exceed expectations: Colin: CERTAINLY. UNIQUE, talked about Cadia - Newcrest but couldnt catch what it was. Obviously GOOD COPPER, LOTS OF IT-PLEASED. MINERALISED ALL ALONG - GOOD COPPER VALUES - a LOT OF IT. REALLY BEAUTIFUL."
Kindly check as I cannot guarantee there are no errors - hard to listen and take notes.