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Can't see the problem. If he has 'oversold ' this to the shareholders then he can get on and 'oversell' it to the potential buyers.
I wonder what he thinks of his 'tell em where to stick it' 10p comment now?
Time for the salesman to earn his crust.
It's a Train?
It's a Plane?
No
It's the one and only- Salesman - Mr Colin Bird ...
I'd have guessed 1.25mt worst case for RC on its own .. A bit under that, alas.. but much to play for here still.. and the s/p is far from stretched at 3p ish, all assets in here .. imho
The race is long .... (and in the end, it's only with yourself)
Bird quote: 'Bushranger had achieved everything we wanted it to, and more'
So full of ****
Grrrrr
And don't forget Ascot - Colin Bird, Executive Chairman said: "The Ascot prospect continues to produce some very encouraging drill intersections. The 18m @ 1.8% CuEq is amongst the highest grade copper intersections on the overall Bushranger Project and it confirms that the excellent intersection of 64m @ 0.58% CuEq (Zone 3) in drill hole BRDD-21-035, continues to shallower depth. The results from holes BRDD-21-051, 52 and 55, when combined with the results of other holes we have released from the Phase 2 drilling programme at the Ascot prospect, show that the copper-gold mineralisation at Ascot is laterally extensive, extending over approximately 1km of strike. It is also worth noting that the higher grade copper mineralisation in Zone 3 at Ascot is open both up and down dip and to the south. We are now working on the overall geological model for Ascot, which will then be used to produce a maiden Mineral Resource Estimate for the Ascot Prospect. This will be in addition to the updated Racecourse mineral resource estimate which is close to completion."
Does anyone think more funding will now be needed?
He’s pretty positive still - stumbling start but finished well
Did I hear right in the decision to mine has been made ?- if so then could get very interesting
Podcast with Zak Mir up on V O X
https://audioboom.com/posts/8201319-trader-s-cafe-with-zak-mir-colin-bird-executive-chairman-xtract-resources
If CB gives an interview after this RNS, I wonder how much positivity he can muster. I`ve been investing for over 30 years and with all the hype from CB, I should have known better. Let`s see 10p min hopefully and all move on to better things, I just hope he retires after this and enjoys his wealth, unlike us poor investors who followed his incessant hype. GLA
Well it is a hard reality check for many of but at least it has hopefully cleared the fog of doubt, uncertainty and unrealistic hopes of the sp being anywhere between 10p and 100p.
Potential buyers can pour over this updated data and surmise what value the next RNS will add to the pot. They should then be able to prepare their bids (hopefully).
We are somewhat downcast but far from out. Clearly the LTHs will benefit the most.
Have a look at the 3 cross sections in the RNS.... 2 of them show a volume of resource <150m below surface in the 0.5 to 1% range. This will still be attractive...... but whether it would attract an AA or BHP without a positive Ascot JORC is maybe the debate...... dont doubt that this will still be attractive to smaller companies ..... especially with the >0.5% close to surface. Just not the paycheck we hoped for.... 20p anyone?
That aside , can anyone still imagine a 35p valuation for the whole project?
Maybe it was Anglo American who just set the bar too high from the start.
Yes and the ramping was all about RC
3Card - The Bushranger project consists of all the targets/licences I mentioned. RC, Ascot and Footrot are all within the licence that is subject to the AA buy-back clause, they have all been drilled and will all contribute toward towards the final resource estimate.
I certainly hope the for sale sign is up and we can all move on from this bitter disappointment.
Roast boys interviewing Bird today.
Apparently they get shares in exchange for these interviews? so don't expect a grilling
Steve. At the time it wasn't being sold to us as RC, Ascot, Footrot et al. It was all about RC.
I'm sure if we drilled the whole of Australua we would get to many many multiples of 2mt. But would that make it a world class asset?
3card - A valuation of 35-40p is not ramping for a resource of 2mt at RC, plus Ascot, plus Footrot, plus other targets/licences. Colin set the expectations and people dared to hope.
As others have said... get the thing sold CB so we can move on.
Have to say, I feel the need to look into the legal ramifications of what Bird has been, verbally, informing the market.
I just can't believe he can just say whatever he wants....
There won't be any point in exercising options at 10p if they only sell at 12pish due to taxation.
Depending on the person's tax liability.
So maybe not so much more dilution to come?
Agree L520 - Just get it sold and no more of your bull-**** Bird
Terrible result (compared with expectations set by Bird).
But it doesn't just condemn Bird. It also condemns the usual rampers on here who for many months vilified as trolls, anyone who dared to question their fanciful valuations of up to 35/40p.
Seen it so many times on AIM.