Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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. 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.
kwadoku is Pops1980 and an obsessive stalker of Colin Bird. Presumably he lost money at some point and became unhinged as a result . He haunts the forums for Colin's companies, issuing warning howls at intermittent intervals. Best ignored or reported. He usually gets banned fairly quickly.
I'm beginning to think you are a bit of a deramper kwadoku.
Why do you copy and paste that last paragraph into all your posts ?
kwadoku.
The SP doesn't reflect the potential, as for placings, I doubt we will be having one of them anytime soon.
Where is Eureka? I thought BZT had something there. Need to be careful as he often starts new projects before finishing the last. It will result in more placings and dilutions as the early part of new mining exploration is where the SP can take a hammering till you have proved it up
------------
Stock Prices watered down by placings after placings and projects that go round in circles- meanwhile Colin Bird lives in the tax free luxury in UAE and indulges in expensive race horses.
Time he became CEO of BZT- SP 0.5….now 0.1
Time he became CEO of XTR- SP 10...now 3.65
Time he became CEO of Galileo 7.38...now 1
Kwa, um.... You are aware that we haven't had a placing for 12 months- have no plan for a placing - have income from alluivials and have just started to get income from a major gold project?
If your goal was to remind folks that xtr is different and doesn't need placings well done!
Gixxer, yes he is blaming the market on all his companies but their prices were still well down before the current bear market.
I know he traditionally likes to spend the summer in Europe (like many Middle Eastern based people) so I imagine he is in some comfortable beach house somewhere. You should all have a look back at the messages from 2-3 years ago and see this current sideshuffle is not new with him.
--------
Stock Prices watered down by placings after placings and projects that go round in circles- meanwhile Colin Bird lives in the tax free luxury in UAE and indulges in expensive race horses.
Time he became CEO of BZT- SP 0.5….now 0.1
Time he became CEO of XTR- SP 10...now 3.65
Time he became CEO of Galileo 7.38...now 1
Just be careful guys. Colin Birds businesses have a history of one step forward, one step back. You may need more placings for more drillings which may similarly not meat the grade. Then your SP goes up and down and more of the latter. Beware of the dangling carrot that Colin so expertely hangs. Ive always said the money to be made on his companies are on short term bets before he ramps. Holding onto his stocks is a bad play as i discovered in bzt. The money I did make was over 2 or 3 weeks in XTR Xmas before last- though which I had held on till it touched 8.
---------------
Stock Prices watered down by placings after placings and projects that go round in circles- meanwhile Colin Bird lives in the tax free luxury in UAE and indulges in expensive race horses.
Time he became CEO of BZT- SP 0.5….now 0.1
Time he became CEO of XTR- SP 10...now 3.65
Time he became CEO of Galileo 7.38...now 1
Hi pedro, my thread title I started was considering the companies plans for strategic growth in the coming years essentially after, a deal is done on their primary asset BR. The plan is to sell it on, and not mine it themselves or through any kind of JV. Decision to mine is one of the options that starts proceedings for a buy back. (Just to be clear if unaware)
The main objective of phase 2 was to prove up 2mtCuEq with initially between 16-22000 metres of drilling. The phase was extended to 30.000m+/- and now stopped, so we can assume that target has been now met ( good thing) what disposition of RC tonnages and the grades grades is yet to be understood and we eagerly await news of both the resource models potentially by October and what the company plans to do next thereafter.
Hope that helps
Some others disagree, but I think that Colin is holding off from any deal due to economic situation. He stated the other day it was the worst market he can remember, so there seems little point selling a asset of this size during a worldwide recession, high inflation and a depressed copper price. Colin is reacting to events on the ground rather than blindly pressing ahead with a strategy that made sense 6 months ago, but doesn't now.
As we have income now from Manica and time on our hands, then we may as well increase the resource by doing a phase 3. As theiceberg notes in another post, there are some encouraging signs so the 'deal delay' might not be too long.
Hi
I note the headline Life after Bushranger, forgive my ignorance what does this mean?? I can see that drilling has now finished on Ph 2 so what does this mean. Is this good or bad, I thought this was the jewel in the crown site . I s that what they mean by Life after because the Drilling has finished, any Guidance would be greatly appreciated .
Gold (at least from the chart I use) has gone above 1800 - which is pretty bullish
Copper has been rising again just shy of 8000 t. Which gives it the highest rise since it fell from 10000 t. Copper might just be entering a bull phase.
Is that just a little naive to suggest it will fall because of the 3rd phase?
I would agree with Stevem
You would certainly think that once the updated resource model for racecourse combined with the initial resource for ascot are released that would give the market confidence as initial target for the buyback has been reached. Any plans to ‘enter’ into a 3rd phase will not happen until after the market has been updated on the models and plans going forward.
Andy - Let's hope they had lots of new pads approved last time and can make a start without a long lead time. But who knows... they never updated us about the approvals either.
I just did a quick check on NSW TMS for any new applications for EL5574. I can't see any new open applications for drilling. I am slightly concerned that my access may have changed however as some older applications are no longer visible.
I'll keep checking occasionally.
Typically new applications appear to take 6 - 10 weeks for approval longer lead time for exempted area approvals.
I don't see how phase 3 can beginning without giving shareholders an update following phase 2 discover e.g. a new JORC for RC and/or updated on the pit/economics modelling. I would hope that having anything between 1-2mt contained Cu Eq at RC, and evidence it is economic to mine, would result in a significant increase in the SP.
I am also hopeful that RC will be closer to 2mt than 1mt, which is a massive amount of inground value. And I still think gold has a major part to play in the evolving Bushranger story. I guess that puts me in the optimistic camp!
Hi Howezap,
If it goes to 3rd phase, the SP will likely fall? If so where is the opportunity to exit?
F100
Thanks. I do plan just to hold and see what happens. I bought my first XTR shares for the Julia Creek oil shale in either 2007 or 2008. Oil was running out and shale was the future. Took 15 years to come true even if not for JC. Dieselgate did the same for platinum and JLP. At the moment I just hope Colin doesn't let his enthusiasm for buying up the worlds copper exploration plays and waits for the cash to arrive from Fairbride first. (sorry for off topic).
Exactly flipper, the objective of phase 2 has always been to prove up 2mtCuEq and or the decision to mine, to then see what Anglo wants to do with it. I don’t believe this has changed, in worst case, the extended phase 2 drill program was potentially because the target was not met from racecourse alone, which is maybe why it was extended. There was a recent comment from Colin that he thinks the 2 million ton will come from racecourse and doesn’t think they’ll need it to come from Ascot, also the more we drill the more value is added so that is interesting so maybe not a worst case. But generally, there has been no reason to believe at this stage that the objective has changed to approach AA if targets have been met, and then some.
What they decide to do next will be in shareholders best interest of course.
But I think once resource models are out, there will be an opportunity for shareholders to consider an exit strategy if this has all been too much and want out if this is going into a 3rd phase. But certainly don’t be hasty.
I thought the plan was simple. Prove up BR. Hopefully reach 2mt and sell it. Return cash to shareholders. Seemed simple to me and the reason I invest is to hopefully make a return.
Now I have no idea what the plan is. Great for debating on a bb but not financially rewarding. And I have not the faintest idea whether copper will be $3 or $6 a Ib next year or maybe both. Could wake up tomorrow and find AA has put in an offer for the company at a 30% premium to the current shareprice !!. Time will tell how this goes.
Thanks for the reply IWTO.
I would only repeat what I had said before that xtract are not proving up the resource toward the actual extraction and production process, but with more a view to a marketing perspective. They simply need minimum of 2mtCuEq and or decision to mine to get AA interested or not. That will open the door to eventual sale dependant on their decision of course. Quite irrelevant at what depths mineralisation starts at Ascot. One of the last holes into Ascot was to the south to no doubt follow the trend of shallower mineralisation the further south though if I recall.
I think there is a general underestimation of what could be on the table, there is about 15 furlongs of mineralisation from both RC and Ascot.
Lol Just come back from site in anticipation to hopefully join the long and intense debate, I had wondered why that one didn’t even get a nibble! For a brief time I thought maybe the site was down Ok that was my second poke at a response with that thought, I’ll file that one away now in the ‘repetitive parsley’ pile.
Cheers lucky laughed out loud at that.
Howezap, of those choices I’d struggle to say I am even in the “Camp Realistic” at the moment. I say that because I have no clue whatsoever how large the Ascot resource is. Apart from the discovery hole and perhaps one other, the results so far seem rather iffy. Further - whilst Ascot wouldn’t have capital costs to cover there would be plenty of stripping required, and also the joint processing plant would have to be very large because I can see RC fully utilising it for 25 years anyway. (Unless Ascot is left intact, to be mined way into the future when, no doubt, copper will be $20/lb!). So whilst additional Ascot tonnage is very helpful, I’m just not sure that it’s as valuable as if it were all found in RC alone.
Having said all the above, good P3 results from Ascot - perhaps even to the point where it’s a second RC, or smaller version - would make a huge difference. That’s why I believe we need a P3. I’m not too bothered about the other outcrops, though it can’t hurt to sink a few exploratory holes.
And it was at 10:19 when even howezap realised even the biggest of xtract's optimists get bored of talking about the optimistic scenario's in which the story will unfold......(said in a David Attenborough voice)
* A sale sooner rather than later because of the plans for strategically growing the company, not because of my suggestion to jump now as their is potential increase of struggling deposit owners. ;-)
Thanks Andy I was looking at your 3rd point you made there.
Considering they are pursuing these further projects, although the plan to search for deposits with a certain criteria. One being they will not be front heavy capital investment, it would still potentially put a lot of strain on the treasury particularly if going into a what appears to be a fairly comprehensive sounding, 3rd exploration/ definition phase at BR.
Anyone have any idea as to a ball park figure of capital outlay for one of these type deposits,
Safe jurisdiction
Shallow ore body
Near final production ready
Within 2 years to develop
Nearby local plant
Up to 5 year LOM
Up to 50,000tpa
Don’t sound particularly cheap to be worthwhile.
I suggested before that with BR on its books for another 6-12 months it could seriously impact plans for strategic growth over the longer term.
I would not be surprised if BR has had all the focus now spent on it and it is time to move it on.
It’s not my agenda, I would be happy to wait longer for a bigger asset. Also be happy for an earlier sale by year end or after.
With income now from fairbride to pay toward further exploration and plant mods (next year) and once Eureka is bringing in cash it will then be positioned for further exploration phase there too.
It they push on now, there will be even greater potential that more of these small deposit owners are left in a difficult position in this climate to get the funding to enable that last push to development stage.
What do others think on a sale of BR sooner rather than later in lieu of the plans to search and develop these other small JV’s?