London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I don't suppose anyone on here has a 5% stake?
As a shareholder, what right do I have to choose the company's directors?
This depends on the company's articles. Often new directors may be appointed by the board. Alternatively they may be appointed at a shareholders' (general) meeting.
If directors are appointed at a shareholders' meeting, they must usually be nominated either by the board of directors or by a shareholder. Shareholders who wish to nominate a director must give notice of their intention to make the nomination, within strict time limits.
The directors may refuse to call a shareholders' general meeting to consider a shareholder's nomination. However, shareholders with at least 5% of the voting rights can require that a general meeting be held.
Alternatively, more specific rights to choose directors may be included in the articles of association.
A majority vote of the shareholders is always effective to remove a director from office, (though, if they have a service agreement, the director may be entitled to damages for wrongful or unfair dismissal). Shareholders must follow a special procedure to remove a director or their decision is not legally valid, so legal advice is strongly advised
1st Floor 7/8 Kendrick Mews
SW7 3HG, United Kingdom
This is the office address, anyone live near by? Might be worth popping in and seeing how many feet are on desks. Also while you're there see if there's any jobs going. I fancy a nice office job where I get to do F*** all.
4 trades so far..... so lots of sells could have been a premature call... I agree with your shopping list though.... in fact I'm sure Colin suggested there would be site photographs beginning to appear on the website.... but nothing as yet....
Are investors staring to think that alluvial gold is getting Syphoned off then, as talk about third parties profiting and gold amassed by other small holders out preforming the company in a similar type of operation, if this is the feeling its a serious accusations
And while I'm in whinge mode... the paltry alluvial revenue seems to exist to keep the listing alive. It certainly has been no where near what we were led to believe.
I am still in but will be looking for an exit now as I just dont have any confidence that XTR is being run in the interests of shareholders. It just seems to be deals clouded in economies of truths that are not delivering shareholder value but seem to be delivering benefit to those around the deals. I think I have said this before but it almost seems to me that XTR exists as a vehicle to benefit third parties and not shareholders when all the pacement cash is considered in relation to no uplift in SP. I mean we paid what was it £12m for Manica how long ago ? Omnia had a plant that was underused according to Bird and that we were going to utilise that to process the low hanging fruit ? When was that ? It didnt happen. Instead we did a deal with yet another third party. All these deals and no uplift in SP.
I wonder who his script writer is ,his personal share holdings should be frozen until he starts showing some positive results.
Seems like a lot of people are fed up with Colins flannel , to be honest I think the time is right for aother CEO to be appointed as we dont appear to be moving forward very quickly, we appear to have missed out on the last gold spike. Colin obviously doesnt have the time to push Xtract forward.
During Colins next update, I expect to see evidence of what has been accomplished, new pictures on the website or video as many have discussed earlier , we have some reasonable projects but non are actually doing much, get your finger out please!!!
I'm a regular watcher of gold rush, one of my favorite shows. They do make our alluvials look a bit pathetic considering we are a listed company and they are mere small scale private companies. I think we are due an update Colin, one with detail and images please.
I noted a post on this bulletin board that suggested Bird should do a live stream walkaround at Manica or even drone footage so shareholders can actually see what is going on at the project, not difficult to put something like this into being, hardly rocket science.
I do wonder if it is intentional to keep such images away from shareholders eyes, maybe too revealing perhaps, in the meantime based on lack of visual evidence can we expect to hear ever moving stories from Mr Bird about the goings on at Manica? Probably yes.
Moving on, does anyone watch Goldrush, it is a cult programme about a group of alluvial gold miners, some experienced, some rookies, based in Alaska, their mining season lasts about 16 weeks.
What has struck me is the level of alluvial gold they produce each WEEK, one entity regularly manages 300oz-400oz from two wash plants, another entity produces an average of 200oz per week. The method of alluvial gold extraction is exactly the same as at Manica.
Based on the above numbers quarterly production would range between 2500oz to 5000oz - one gang produced nearly 7000oz in 16 weeks last year. Now compare the miserable alluvial gold production from Manica - we are lucky to get 1000oz in a quarter of which Xtract gets circa 25%.
I have often thought when watching Goldrush why Manica declares so little alluvial gold, it does make you wonder does it not, I have doubts but you decide !
You could write a book about Xtract Resources, would feature in the Horror Stories section for certain.
Copper price doing well, hope it continues into 2021.
Would like some news on kelengwa and eureka to take advantage next year. I suppose a contract RNS on either of these could drop at anytime. Were due news on GF and an update on FB main mine build. Also alluvial update due next week with hopefully some news on the GF. All in all I know the SP has dropped and confidence is at an all time low but it is a good top up point for the brave. I'm heaverly invested here but am tempted to further too up if it drops below 1.
Lucky, that's the only reason I haven't sold.
correction: possibly FB update
I suspect many are in 'hold mode' aware that news is due soon re
GF and BE hard rock
Possibly GF update
So many maybe waiting to see what is the news re those plays before either dumping loads or buying back in / adding.
There is one positive to our current situation!!
Theres been very few sellers recently and I think it's because the shares are next to worthless and there no point in selling!!! :)
By 'eck it's not gorgeous 'ere round about now.
Thanks for all the good posting that keeps me informed when I glance in from time to time ( my bet here is currently 20% my previous peak bet here and so this is a fairly low priority share for me now )
While 2020 will hopefully end with some meaningfully good news 'ere, one way of coping with the frustration at the one and only Mr Bird's ongoing/latest timeframe slippages is simply to pretend this year never happened - and it has been a horrible year for the world sadly, so best disregarded completely anyway I'd offer- and reset all expected timeframes as though 1 Jan 2021 is 1 Jan 2020 and hopefully then Mr Bird might finally deliver something(s) on time!
Generally, there is still plenty of opportunity/possibility for strong s/p appreciation here again sometime relatively soon.. especially the lower it goes this time down. And hopefully this stays above 1p this time, firstly, as I do not want to add more here as a matter of principle but would feel compelled to average down a bit of it goes under 1p in fairness.. secondly, and more importantly, long suffering longterm buy and holds have suffered far too much already with Xtr.
They obviously walked away from FB as well during the lockdown. What state the mines completion is in I honestly don't think CB knows, he let it drift again for the last quarter imo
I invested as it looked like Manica was a nailed on certainty ,but should have looked more into the partner in the FB mine and learnt when they walked out on the alluvial deal..
It would be good if Bird could demonstrate to shareholders that he has earned his chairman's fees. The last few years have been plenty long enough for us to be shown that all those deals have been done with the sole aim to deliver shareholder value. Plenty have benefitted leaving shareholders at the bottom of the pile so far. Further lack of delivery will surely demonstrate once and for all that shareholder value is not in his script.
Totally agree with everything you says normally i buy in low & sell for small profits' honestly feel very sorry for LTH
until this company starts produce on its own there is going to be very little for shareholders subcontracting opens the door for graft and corruption but the directors retirement funds will just keep growing
I certainly hope Colin isn't planning on giving us an advent calendar this year whereby the doors opened each day are empty...... time for some good news Colin (before advent begins)
Thats probably true bt.. . But the hard rock development and all others are being managed but 3rd party mining contractors..... so not one of those sites has XTR responsible for security.
Russian doll comment should be dealt with within months as the mines start producing or im out of ALL CB ventures for good.
I was here a few years ago. My advice is to wait for the next upturn and get out. This is a poor venture and its rise and share is built on nothing more than sentiment. While powerful, sentiment doesn't pay debts. Bird et al are dining out on other people's money. To sustain a mine in Mozambique you need serious amounts of security. Ask bird to do a virtual tour of the mine. Let them show you what "their" mine looked like. This is a Russian doll. They are using your money to invest in someone else's gold mine.