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"I've been a CB investor for about 20% of my life"
I've been a CB investor for 120% of my life - that's how much this has aged me :)
Okay Steve, you are right. The reason fairbride was so late is due to covid and putin. Sorry Colin, my mistake!!!! Covid and putin cost us 50% dilution in our shareholding.
Jeezzo lmao!!! I mean I'm annoyed a bit today and also frustrated with Colin........ but telling him he's only got 10% left!!! You heartless so and so.
I keep going back to the fact that Colin isn't a young man, he may well be in the final 10/15% of his life (sorry Colin)
He's still massively ambitious though and fully intends to have the best life. I think he also wants a legacy and this could be the last hurrah he's planned before he rides off into the sunset, pockets stuffed with money.
I'll be doing the same but with maybe not quite so much stuffed in my trousers.
I've been a CB investor for about 20% of my life, I'm hoping he will be making a major contribution to the remainder of it.
Always good to reflect on how this point has been reached, how much extra drilling in Australia has gone on with a tightly controlled budget? Any project has a balance of speed, quality, budget and safety - personally I think it’s spot on and has performed exceptionally, loads more done than expected and all options explored.
The end game (for Bushranger) is in sight.
Drill(s) at Bushranger have stopped, the kitty is getting bigger by the week - even running Fairbride at 50% should put $50k into the pot each week and this will improve the closer we get to October. Very few small cap miners in that position.
Model for racecourse is in the process of being completed, now the expedited assay results are back (keep saying this, think about why this was done??).
Ascot and Footrot to follow (Sept /Oct) as they’ll need a lot less work going into sale, won’t have full on JORC and will add as potential extras (unless cracking results come out, then I could see phase 3 drilling, funded by cash build and rolling funds)
Fairbride coming into full production Sept / Oct time + further exploration there.
When you look at the time frames for Bushranger and the recent steps, it’s massively pointing to Sept / Oct (CB also gave commodity dates as Sept / Oct).
Of course, I’ll be reading this wrong and probably reading too much into decision process - maybe the lab just came to the Final racecourse samples first in the warehouse!?
I didn't ask for optimism - I asked for constructive discussion and to improve knowledge of our investment
Complaining that person who has always been optimistic was optimistic again, is not really adding to the discussion, and implying that CB is dragging his feet to extend his monthly salary is up there with believing the Earth is flat. Maybe read a newspaper and see if anything else outside of Colin's nefarious intentions could be affecting the share price timeline for XTR?
everyone is entitled to their opinion.. and the best boards are invariably a very broad chuch of opinions..
..plenty of good points made by Steve in his post .. and plenty of good points made by those who are currently 'moaning' in theirs too ...
Generally, I've been in this stock longer than most here and fully understand why plenty feel the need to moan from time to time here.... but i'd offer, in defence of the one and only Mr CB, that to be a longterm CEO in this space you need to be an eternal optimist.. and he absolutely is that .. hence why he's overly optimistic on most every time frame he gives imho...but, he's very consistent in that too, which is useful for range trading.. and just as long as he gets there in the end then fair enough imho.. and he seems to be with Fairbride 'ard, thankfully.. and hopefully ditto with Bushranger 'in the end' too..
Policeman Steve, having a board full of optimistic people who agree with everything everyone else says and has no opposite views is not a healthy forum. I've earned the right to moan, and so have many others here!
This board seems to be in danger of moving from an excellent discussion forum into a place for people to complain about things they can't change.
Colin is optimistic with dates - did anyone not know that? Is anyone still invested not taking that into account?
Since CB outlined his plan for the future, we have the biggest European war in 80 years, a global food crisis, a global recession, high inflation and crashing commodity prices, yet people are complaining the plan has changed. Of course it changed - because while Colin might be optimistic, he isn't an idiot.
Colin has made millions from past deals and has 44m shares and options in XTR, so he has the right background and plenty of motivation to do the right thing long-term for XTR shareholders. With his wealth and at his age, he obviously isn't trying to stretch things out to maintain his salary. He will be a lot more interested in legacy at this point than monthly income.
Then we have the complaints that the share price is down. So is almost every other mining stock. AIM as a whole is down massively. If you want safe investments and steady income, then News Flash! - small cap explorers on AIM during a global economic crisis are probably not ideal for your risk profile.
I've moved most of my attention to the XTR Telegram group, because that is actually a constructive discussion forum with the objective of learning more about our investments, rather than mutual complaining about things you can't change.
When are we going to see our money ? Colin you’ve sat here too long if you can get us our money.
https://www.cnbc.com/2022/07/28/china-signals-no-big-stimulus-is-coming-while-covid-controls-remain.html
And going by this I cannot see China reopening September/October. I won't give a year !.
At least gold picking up, as is copper.
Its not in his interest to get things done quick.
How much is he paid per year per company?
He's probably earning 50k a month across the board, plus bonus shares and fancy company dinners. Notton mention the first class travel, if he does? I have no proof but wouldn't surprise me.
In his defense, at least he doesn't discriminate across his many Companies. Same promises and delays across the board. Personally think he has too many projects/companies to give sufficient time and focus. Plus always looking for the next "game changer" to prop up the bulletin boards. Saying that, hope all his companies eventually come good but keep telling myself - be patient !!!.
Wow.... I had just reinvested at that point.... maybe a few months earlier..... I remember being very bullish on the African revenue and telling friends about it.
The reason I gave my friends for it being so undervalued..... Colin has overpromised in the past and it is haunting him..... but the MMP fabrication pictures were starting to arrive on the website..... so I thought he was actually going to do it this time.....
Forward 2 years......lol.....
But in his further defence..... MMP suffered bad from Covid..... thats the reason Empress got a look in..... but Eureka hasn't been smooth either.
There have been so many L250.
I'm still pretty sure he has only met one of his deliverables since JN left. That was the update as I recall......
Do you remember the quote " if I miss it, it will only be by a month"........ hahahahahahaha
Perhaps he should be made to wear a badge for the entirety of the AGM - "I’ve not done my job"
https://www.youtube.com/watch?v=AxxNbFw9Fbk Oct 2020 interview
While we are waiting for the 2mt to be confirmed and AA to make $500M offer, I had a look back at an old interview CB gave. It was one of his most interesting and informative - talking about all the projects.
CB did it nearly 2 years ago (Oct 2020)
Interview starts with CB at 28 mins
A few observations:
1. POG had risen to $6.7K at the time of the interview and CB expected it to hit $7.5K by next year (Oct 2021) It is that now even after the massive fall. Just shows how high POC has risen over last 2 years.
2. Timeframe stated for FB in production was a year away ie Oct 2021 at $500K to $600K income a month. Same time frame for Eureka at $250K to $300K a month. CB said If that was not achieved by end of 2021 then quote “ I’ve not done my job”
3. He also used the phrase ..”Its not (going to be) a death by a thousand lashes” It ended-up taking 20 months after he used that phrase!
On reflection, I may need to review my original Bushranger sale date of Q1 2023 !
“The farther back you can look, the farther forward you are likely to see.”
? Winston Churchill
We can thank Covid for some of that...... the kit sat in the Fab shop for months and months as a result
I'm really happy MMP's option to buy manica for 20M has expired!!!!
Everyone's been putting a value of 60M on it from the revenue. Imagine if it was taken off us for 20M. ............
I see the 'The decision to mine' method of triggering the AA agreement a risky hand to play, and one that better suits AA. If AA call our bluff on that then we have to find 20% of development costs. (lets say ~$100e6?!)
I don't think AA, should they be interested, will want any other company having any part of BR but they could certainly make life hard for xtract and we could end up with a real low ball offer.
Despite what Bird says, I don't feel we have 2Mt at Racecource, the grades just haven't matched the .44 av that AA had in their drill campaign . Maybe not the end of the world if we have something worth selling at, say, 1.5Mt, I image there will still be a number of companies will to buy the resource at that sort of magnitude.
The Geo's will know what we have by now, and I imagine they will have a good idea if the current RC resource can be increased in a meaningful way. I just hope Bird doesn't spend $$$ on another round of drilling with little increase in resource.
At some point, if the 2mt is not achievable, he just needs to man up and admit his initial statements were misleading. Let's hope we know where we are before the AGM!
Agree too joeman/bob
If the intent is as stated, to find and drill the shallow high grade component at Ascot, that would show the potential that Ascot could be developed as a second open cut mine.
We know they are looking at both resources as separate entities, I guess that would mean in body as well as from financial viability. To show open pit potential of Ascot would have huge impact on the overall project with the capability to share a single processing plant.
Yes captain.... that was what was said....
Colin said we were to "get our arms" round Ascot because we had to have an idea of what it was in order to sell it ..... but that it wouldn't be "Death by a thousand lashes".
If this has changed for Ascot then it would be good to know that..... and not have to read between the lines....
Colin has said numerous times that we are going for both the 2MT and the decision to mine but I've never read or heard him say that they are co-dependent...... they are separate clauses that each trigger the (one time only) buyback decision.
XTR also pursuing the decision to mine at the same time has 2 main benefits as far as i can see.
1. If we don't make MT we still force the AA clause and either get a sale from AA or get out on the open market.
2. The decision to mine isn't a "got up on the right side of bed" decision..... it will include economics including NPV, so the value of Racecourse will be more transparent. Instead of arguing about whether we can get 1, 2 or 3% of the value of the contained copper, we will be discussing 40, 50, 60% of NPV ...... and that will be worth its weight.... in copper
Lucky, the last RNS specifically stated all results in from Racecourse and so the model can now be finished.....
Doesn't mean we know we have 2MT but I thought that was fairly definitive on drilling.