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Well Xtract must be running on air right now, I remain convinced Bird is about to raise cash, he did it last year in July the chance must be high for the dreaded mid afternoon placing RNS.
The share price has been weak for around a month now, usually the time it takes to organise a funding - we will see, if he can get a raise away around 1p -1.1p maybe the share price will then start to move back up to reflect the upcoming news-flow one hopes he will deliver.
I'll guess time will be the judge,and whether there's a continued dilution of shares to fund the newer projects, l think this should have been avoided with Manica and the continued rise in the PoG giving ring to strengthen the companies cash position. So it will be interesting if Bird can control his continued dilution of this company ,my guess is that he will not.
I take your point that the SP has fallen massively over the years and many have lost money. I have been in this for over 7 years, have averaged down again and again and am still sitting on a substantial paper loss ( and I do mean substantial !). So I have empathy with what you are saying. However, I don't think the 'new blood of shareholders' as you say have much to worry about - assuming you are talking about those that bought in since CB took control at circa 3p SP .
Unfortunately in AIM. one group of investors lose 95% of their money and then the next group come along and see their investment 5 or 10 bag. It was ever thus in AIM.
I’m uncomfortable with CB giving himself options at a price lower than when he inherited executive control (at 3p), but my main point was that CB seems confident the SP will be going much higher by taking out more 2p options. That must be good news or at least encouraging.
Irrespective of legacy issues (the past is the past) , the SP future looks better now than it has done for many years, IMO. That was my main point. It wasnt to praise CB and I think my posting history shows that I'm not a CB apologist ! I'll only praise him and consider that he's been successful if he gets the SP alot higher than the 3p SP that he inherited.
Andrew people have been diluted in their holdings x100 so for them a 1.25 p share price would have been an equivalent of a £1.25 share price people have lost an f..ING fortune in this company , so is bird about to do this to us the new blood of share holders,he doesn't really seem to care about his sh ,to me he's proved this over the last couple of months
Sorry if you thought my post was patronising. I didn’t mean it that way. In your original post you seemed to imply CB was rewarding himself now (which he's not) so I wasn’t sure if you realised how options worked (genuinely). Some seem to think that option shares are given for free.
I agree with you that 4p would show more confidence in the future SP, but at least CB seems to be confident it’s going to go higher – which is encouraging.
So they've just voted themselves some more options - nice work if you can get it. "Darling, i really do need a new car, what do you think?". "Don't worry lass, I'll just sort out some more options and then put out some good news...."
Company had £360k on 31st December, they had £440k in December 2018 and placed stock in July - the share price seems to be under pressure recently from scrappy selling with one or two larger chunks of stock hitting the bid, Bird has raised with his chums at Novum for both Galileo and Bezant recently, question is is he about to raise for Xtract.
Ive just learnt how to calculate the NPV properly today, based on something I researched. So the new NPV I've calculated on a gold price of $1762 New NPV at manica is $94.5 million. That's an increase of 125% Anyone here with more experience get the same.?
Good news is two more revenue streams within 3 months and likely no more cash calls. Hopefully a profitable company in 3 months time. Gold price is rising and so I'd copper. We just have to wait till Q1 for the real money to come in.
Gixxer, I think the problem is with the transportation companies and the well being of the drivers. There are no facilities at the border by the sounds of it and it's an uncomfortable wait for the drivers. Plus they would have to quarantine for two weeks after each journey. It's not practical for the transportation companies. As much as I would love them to crack on and get it built, it's just not practical at the moment.
So, we know that at least one border is open (and has been for a while actually) - We also know , from Bird, that he anticipates long queues/delays.....What I don't understand is If we have equipment/plant that's complete and ready for transportation then get it on the way at least!
So what if if we have to pay for the lads (ladies)to have relevant safety equipment, to sit at the border for a few days and maybe then for a couple of weeks quarantine. Even if that cost 50k it would be worth it!
Just feels to me that with a little planning, and a can do attitude, this problem of transportation can be overcome.
I guess the most pertinent thing said was that we will have three sources of significant income within 2-3 months from Manica - 2 x Alluvial operations and the free milling. Both new contracts in advanced stages of negotiation and about to be awarded. Income from all three sources of production will be "much better" than at present.
Big delays on Moz border, even though theoretically open to commercial traffic - If equipment can be delivered by September then production before year-end.
Once Manica is up and running then focus will be 100% on the copper plays...
It will be good to get more details of the new Manica contracts, and hopefully confirmation that they have been signed, in early July.