Xtract Share Chat (XTR)

Hello CE

If you are correct that the 4.5kg was the total amount produced (I'm assuming the 4.5kg was for all of the quarter) then we will be lucky to get $60K profit for the quarter. This would be a massive reduction in the production figures and imho too much of a reduction to be believable. So I think the 4.5kg was our cut.

If you are correct in thinking 4.5kg is prior to our cut, and you may well be, then I would think we will be seeing a good opportunity to top-up at near or below 1p after the alluvial results are released :)

Hello Andrew,

My understanding is that Explorator sells all the gold that is produced then pays the contractor its share out of the proceeds of the sale:

In consideration for the appointment of the Mining Contractor, Explorator will initially pay the Mining Contractor a net fee of 72% of gold produced by the Mining Contractor and Explorator will therefore initially retain 28% of the sales value of all gold produced (equivalent to 22% after payment by Explorator of the applicable Mining Production Tax of 6%) and will continue with the above fee arrangement until the Entry Fee has been settled in full. Thereafter, Explorator will pay the Mining Contractor a fee of 74% of gold produced by the Mining Contractor and Explorator will therefore retain 26% of the sales value of all gold produced, equivalent to 20% after payment by Explorator of the applicable Mining Production Tax of 6% (the "Net Sales Balance"

And now they have popped back again - very odd. I think I will go and lie down...

Is it my imagination, or are posts being deleted?

I could have sworn I replied to Andrew earlier, but the thread seems to have disappeared on my computer

If so, does anybody know why?

Hello CE

Not too sure what you mean when you say 'shared'. We obviously don't get all of alluvial production but we now get 100% of explorator cut.

The 4.5kg gold sales wont need to be shared as that is too small to be total production. I can't see how we would have sold any free milling Gold 2 weeks ago (that's when CB said we have sold 4.5kg of gold) so all the 4.5kg would have to be our cut from alluvial gold production.

We that's my understanding. I guess we'll know soon enough

Don't forget that revenue from gold sales needs to be shared.

If the alluvials are petering out then i would be surprised if production figures can be maintained, however as CB never tires of saying - "alluvial production is unpredictable", so who knows?

due any time now.

I would expect same figure as last time ($275K for quarter). CB confirmed 4.5 kg sent for payment = 145 troy ounces= $275K assuming average POG $1900

We may also get update on free milling Gold?? It should be well under way and nearing the increased 120 tpd (according to previous RNS)

For newbies it may be worth reading the last research note which was pretty comprehensive, the projects stack up as does the suggested revenue streams - if all goes to plan equates to £1m a month to Xtract.

Fully diluted target price 6.56p

http://www.alignresearch.co.uk/wp-content/uploads/2020/10/Xtract_Resources_Initiation_Align_Oct_2020.pdf

556779 more for me, gets me to a nice round 1m. Happy with that for now, until/unless I can buy more sub 1p.

13.5m bzt, 1.8m glr, 1m xtr

Demonstrating decent amount of belief in CB, certainly hoping some part of 1/3 of these does indeed really deliver.

Thats all it'll take - imo.

After yesterday, isa wrapper even more important...it has begun, how far will it go and when.

Don't think they'll touch the isa stuff (being of such limited input), if they do will likely need a different excuse at least. Those would be bad times.

Vaccine glimer of hope for spring/summer next year and Biden in, big things to think about this last week or so.

NSW drilling anticipation and FB news eagerly awaited.

AIMO ATB

Well including the moz400k ,Zambia and Aussie play over 2mill payed by shareholders..the sickening part is Manica hard rock should have been producing pre Covid at $1900 ..where should the SP have been by now except for Birds addiction 6p may more complete balls up

Joe

Despite my scepticism with CB's timescales, I do think we will get a substantial increase in income from FB (and other plays). CB now has a number of 'horses in the race' so I would be very surprised if they all fell!

No idea when we will see increase in income, but I am sure it wont be when CB says or by the amount stated.

Imho the question is how high will this go? Will it be a spike to 3p then back down, same old same old, or will it hit 4p ? 6p? or more?

Bird has organised a loan facility so I dont believe another placing is on the horizon tbh. As long as we dont have to endure another Yorkville scenario I feel we should be ok. My concern is that if Bird issues shares to pay back any loans then shareholders could get diluted out. Fingers crossed that Bird will act in the interests of shareholders with any decisions he makes moving forward.

I left this share after the Omnia alluvials Moz debacle... vowed to avoid Colin in the future.... but having sat on the sidelines since then I've seen that the alluvials have been delivered.... but over double the original timescale.... so the direction was right or at least truthful... and the alluvials needed to be moved to exploit the Hard Rock. If I look at all the other opportunities the company now has (im pretty sure when I last left it was Manica and alluvials only) its such a better proposition than it was then. So I reinvested (albeit a smaller amount).
My hope is that the dragged out timescales are due to a company having to work on a shoestring budget and that once we start getting the hardrock revenues timescales will start to be met.

Gixxers post is a reminder to me that, if im wrong, then I've been played 'again' by the convincing Yorke. But are you really expecting Hard Rock and that revenue not to happen?

Gixxer.... do us a favour and repost it every 3 months until Hard Rock happens .... keep my perspective.

BTW.... I was nowhere near the South American failure. I joined after it but I can understand why investors from that time would be another level of sceptical.

What month the next placing? odds on FEB me.

.......and what's even stranger /more worrying, is that CB's next forward guidance will be greeted with excitement and 100% confidence by some on here. I guess some take the view that just because CB got the last 20 forward guidance on timelines and figures wrong, doesnt mean he will get the 21st wrong.

A few on here may still see Gixxer's post as him 'carping on' , ignoring the fact that its all an accurate summary of what has actually happened...or rather what hasnt happened.

Gixxer

That is a great post and sums matters up impeccably, then add to the sorry mix Bird's city contact list which so infuriated Tom Winnifrith including Sanderson who sold down from 14% to zero without informing the market, Bird then pats them on the back with a loan funding deal.

Basically a investment in Xtract is a bet on Bird's next whim, there is no real governance, no-one challenges him at board level so he has a free reign, had he appointed a dynamic CEO to deliver Manica (as he suggested a few years ago) the share price would not be in the gutter now.

The latest whim is Bushranger, this may or may not deliver value, he has given away 100m shares at 1.25p to the vendors, equating to 25% of the company at the time, that is a massive bet, if it fails legacy shareholders will lose out as the vendors have 100m shares to dump.

Bird has become a loose cannon, did anyone hear him in a recent podcast suggest Xtract might make another acquisition, I could barely believe it.

Time to DELIVER Mr Bird.

PG... who stumped up the 50p for your meter ?

*Sighs

So, those that invested during any of those timelines below, assuming the worst of it was over, are 'Clueless'? (you may be included in that when Bird moves on to his next purchase. (he has alluded to this in recent interviews)

'Invested at the wrong stage' Anyone who ever invested in any share must have pre-supposed it was the correct time ofc, one of the most brainless comments I ever read on this BB - Moved from clueless to idiot.

PG, if you'd been following XTR/Bird for any amount of time you'd know that Bird has a passion for taking on new projects but quickly loses interest with them. Forgive me if I take his latest passion with a pinch of salt.

You seem new here so I'll provide you some background:

Cheipca - Lost us (shareholders) millions in dilution/plant expenses (I have no idea what happened to the brand new, $1e6, plant we ordered from SA) (OK, a Nelson/Bird project abandoned ~2016)

Manica - Deal struck 2016, ~7yr mine life. We still await meaningful income. Further details below:

Manica Alluvials - Initials deals done with Nexus, Omnia Mining Ltd and Moz Gold Group Limitida. Nexus bailed on us and proceeded to sue (no idea what happened with that but I assume we paid them off ~100k). Omnia & Moz also bailed on us too despite penalties and a termination clause. Yes we were up and running but revenue is nowhere near what Bird predicted, not to mention the losses incurred when he lent Moz Gold ~$700k RNS Ref "The Company has agreed today to loan a total of US$700,000 to Moz to be drawn down in two separate tranches, with an interest rate of 30% per annum." (yes, we kept their plant but it's rusting away and essentially worthless (according to Bird)). Seeming no action was taken against Omnia.

Manica HR (Other than FB) - Deal done with Omnia. Feasibility and development should have been completed in 2018, we are still waiting for income stream.

Manica HR (FB) - Deal struck with MMP From RNS: "commence construction (as demonstrated by the placement of an order for the CIL), as soon as possible but in any event no later than 1 November 2019".
C19 was to blame for plant not getting across the border however, we found out recently from Bird that there may have been a 'misunderstanding' on his part. Basically the work had not been completed (started?) so the plant has yet to be shipped.

Kalengwa - More dilution to pay for this. Looked good on paper and should have been up and running right away, "with an annual production target rate of 6,000 tonnes of copper metal.", but were now 18 months down the road and it appears to have disappeared off Birds radar.

Eureka - Deal struck mid 2019 with more dilution to shareholders. Again lots of talk from Bird that he could get this "up and running quickly". I believe they are still drilling.

Bushranger - Massive dilution to shareholders. Drilling to start in a matter of weeks according to Bird.

so there we have it, lots of seemingly good deals done under Birds tenure but still not enough income to break even.

Perhaps you should look into a company and it's managements efforts a little more before you berate long suffering shareholders....Clueless!

I'm quite frankly only interested if it plays into shareholders hands tbh.

Yes the companys had to flight covid19 and bird flu at the same time, it's been a very poor year so far.

If anything is going to spike the SP it would be Bird announcing his retirement!

Lets hope that whoever eventually does succeed Bird is that they have a view of shareholder value that aligns with the idea that the SP has to increase for investing in XTR to be a positive experience.

Bird might be gone in 2 yrs - retired to get someone else in at the helm

Sp falling looks like best news coming - come on CB pull up your socks we off to the Races!!! This has to be the longest show on Aim. GLA