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I sold a load this morning when I read Steve's posts. I then bought them all back.... made just under £1800 thanks Steve. Hope you are wrong obviously.... taking a gamble that ascot and some more drilling can get us over the 2mt and get passed AA clause. Going to be a few more months or years wait unfortunately. As you all know I have been extremely unhappy but I'm not willing to sell now.
Hi Steve ,
Thanks for providing a very detailed analysis. Can you educate me on how you came to the OPEX value and (if you know) how that might be better or worse than expected. I assume that the unknowns here are strip ratio and waste ore.
So it looks like one by one the post Bushranger investors have found Colin's ways a little too baffling. Looks like it will just be the Chepicos at the xmas party then. (I didn't say which xmas before A4444 says anything).
Well it’s all there in black and white the numbers dont lie
He has worked it all out of information xtr has released it can only be wrong if the information xtr released is not correct.
This is definitely going back to the 1,s with what has been highlighted here and Colin needs to exsplain all what Steve has pointed out who in their right mind would finance a mine there now if it will cost more to strip than what you would get out at present prices , this is madness we were told it’s viable .
It's very dangerous to act/trade on bulletin board analysis from anonymous posters in my considered opinion, numbers can be interpreted in different ways.
I feel the drop is seriously overdone - have bought back in here, made a very good profit historically out of XTR - technically the shares are materially oversold, the RSI is at its lowest point for 2 years !
Buy the dips
I value xtr's Africa Gold at 2.5p minimum and up to 5p maximum.
I'm all for using revenue from that for an additional targeted drilling programme at Ascot, as there could easily be plenty more to discover there. (Indeed I'd be gutted if they didn't look to better understand Ascot as it could be transformational) And what we have discovered so far there has yet to be even counted in the running total size of the resource.
I'm fine being patient here, especillay as I'm bullish to very bullish on POC for the medium and long term.
Generally, from years of playing the game, I find the answer is usually somewhere in the middle of how good it might appear and how bad it appear at various peak and trough points thru the journey....
XTR following the AIM exploration playbook:
Enthusiasm, Promises of huge resource, multibag opportunity, investors develop emotional attachment to the company, Reality not as expected. Loss for punters.
Well I am gobsmacked that after all this we have an uneconomic lease at present prices apart from Manica that’s all xtr has going for it so decided to sell up this morning.
>> I wonder why someone who is invested would want to post such a damaging conclusion...hmmm. >> I think I'll wait until the economic model is released in early 2023 rather than trusting one person's view who wont have all the info.
Plainly, I sold before publishing the data. I stated so on Telegram, but this forum is not ideal for interactive discussion. If you don't believe the analysis, which is based on XTR numbers, not mine, you can check a couple of simple facts in two RNS.
26th July 2021 - Conceptual study
https://www.lse.co.uk/rns/XTR/bushranger-conceptual-open-pit-mining-study-c05hq78ws9qagfq.html
This has data for original JORC at 0.15% cut-off. 470,000 tons at 0.29%
23rd November 2023 - Updated Mineral Resource
https://www.lse.co.uk/rns/XTR/racecourse-prospect-updated-mineral-resource-k5dfrxajgs0ls13.html
This has data for the new JORC at 0.15% cutoff. 705,000 tons at 0.21%
There isn't any interpretation or extrapolation required. Simple maths tells you that the drilling has added 235,000 tons at 0.135% grade with a 0.15% cut-off. Doubling the ore required for processing with a 50% increase in copper.
I realise this is damaging and some people may blame me for highlighting it, and I considering not releasing it. However, I thought investors needed to understand what has happened. Happy for anyone to go through the numbers and point out any errors.
Joe
I think I'll wait for the independent economic report which has all the info.
Even if Steve thinks he's being honest, that doesn't mean his calcs, based on very limited info, is correct.
SP was holding up fine until Steve's posts so obviously thats the reason for the drop.
Global warming must have melted him. But seriously, when people disappear from a BB it’s usually, but not exclusively, because they are disinvested.
As I said last week the market is delivering its verdict. It’s nothing to do with individual posters on a BB! Ridiculous to think so. Losing money can make one’s thoughts irrational and delusional.
I do love it when people start suggesting £20/30mil market cap companies are being shorted in any meaningful way. How on earth do you get a stock borrow on a micro cap company? The ignorance is mind blowing.
Thanks Steve for the time and effort you have put into your analysis. Albeit very depressing and now begs the question what value if any is there in these shares? Many of us previously in profit are now definitely in the red. It almost seems like the whole enterprise has morphed inadvertently into an enormous Ponzi scheme.
I do agree Andrew, but I think this level of impact from Steve's info warrants an official response from the company..... and not just an interview.
An RNS'd clarification ..... if not a full rebuttal....
And a clear timeframe for the delivery of the study.
Very curious what theiceberg's view is on all this?
Its being shorted and we are being shafted.
SP was holding up ok today before Steve4077 "Analysis"
I wonder why someone who is invested would want to post such a damaging conclusion...hmmm
I think I'll wait until the economic model is released in early 2023 rather than trusting one person's view who wont have all the info.
Ffs !
Manica is the saving grace but do we trust CB to use the proceeds wisely?
the silence from our CEO is deafening.
I never thought I'd ever be 50% down here again.
That assumption was based on information and opinion supplied by Colin Bird.
I think you should stop whatever you are doing Colin and do something about this mess you have created.
lets hope we have some gold!! Listened and believed on what was being portrayed. Dis like it when people say (its their own fault) and only invest what you can afford. Everybody on earth trusts others every day .i.e. driving safety. Not happy at all and thankyou steve4077 for your hard work, depressing as it sounds. Put up my grotto for the kids at my school over the weekend, all 20 8x4 boards shaped as houses, shops,log cabin. Mini street. Said what l was going to do and have made them all happy. Come on cb, make us happy ffs
Yes what about the gold in bushranger and ascot per ton
And Africa is still producting.
Got to help with the expence to mine the copper.
If they can’t sell BR on the present data - so be it. Keep drilling using the gold money. My focus now is to make sure XTR is getting good income to support the SP.
Lucky... that implies Colin is partially trusted