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Just issued in RNS
Do they need to be issued today?
Not heard anything. What is happening
Agree, this discussion has been done to death. It is true about the placing but in one of Colin's podcasts he also said a higher shareprice would help when it came to negotiations over BR. When it comes to reinterpreting the geology and negotiations I am in the "patience" camp. But if Colin is correct in what he said, a bit more effort since March would have been justified. Empress found something to shout about regarding Manica etc etc.
Andrew, LW my âreplyâ was once again to give the opposing view to what was a negative post of a subjective nature. I find it quite surprising that a shareholder with 17million shares would want to filter another member for ultimately defending the position of the CEO and trying to promote reasoning behind continuing to have trust in your own research rather than from historical failings. I find the 10p value absurd, I understand where you are coming from but disagree as it implies my point as is shows a defeatist attitude before getting the facts.
Stevemocal- I didnât say xtract had to accept on a legal point. in my opinion, if Anglo were to move with an early offer it would have to be seriously considered and would be difficult for any realistic offer to be turned down and will probably not reflect maximum value, thatâs business.
It is summarised in the buy back agreement for good reason, and imo is indication enough to be of importance.
With respect
Guy
so whilst we are chatting about comms ( or lack of ) has anyone else noticed the new licenses on the zambian mining cadastre , or did i miss something ?.
Not to add to the posts pointlessly (but i will) to sumarise
Everyone thinks CB is overly enthusiastic. But this works well for us when we need a raise.
A LOT of drilling has happened over that last 12 months a awfull lot more than I had imagined would be possible with a relatively tight budget and within a quick timescale.
The drilling team really have been exceptional.
Can you rely on what CB says in an interview with regards to dates and time frames? Of course not. If you're a long term holder then you'll likely be aware of this and if your a new holder like me (past 12 months) then you should have done your research to see missed time frames or you would have quickly found out the hard way. Either way use the RNS's as facts and the interviews as best case scenarios / possibilities but by no means Facts. CB is an expert in promoting a company and in AIM stocks this can be what's needed for raises and financing.
There's always a call to add more staff with different skill sets but it wasn't many weeks ago everyone bar maybe a few were panicking about another raise. So spending more money that's not needed for a barebone operation would have fed fears further.
If CB started ramping again with no new significant results I'd start getting scared of a nother raise.
So nomlatter what Colin does he can't win. But at some point, everyone needs to be content with what the future of the company could be, knowing its always a gamble even after the most stringent research.
Anyways all the best. Hope you've all vented and feeling better about your decisions behind your investment x
>> Iâve been vocal that i think the company needs a ceo and a new broker team
Yes, completely agree on that. Its possibly been a cost-saving decision thus far, but with the Manica income ramping up in the next few months and a lot of activity to come across the company, perhaps a dedicated CEO might be a good use for some of that new money.
Agree Steve4,
Iâve been vocal that i think the company needs a ceo and a new broker team, but at the end of the day I accept I have no control over it. So I have 2 choices, either sell or accept that this is how the company is run and stay invested. I might give my opinion occasionally, but I am not sure itâs very productive for me or anyone else to keep raising it. Give me the strength to change what I can change and the wisdom to know what I canât.
Lse is littered with companies Iâve decided I no longer want to be invested in.
If Carlsberg did complaining... they still wouldn't be anywhere near as good at it as Pops! We are about to hit the complaining afterburner!!
Pops1980 returns! Its been a while!
>> Explaining/excusing the comm's is fine the first three times, or even ten times, but after a while you have to accept you aren't going to stop people complaining! ;)
Yes, very true :)
I havent been on here for a while- seems like De Ja Vu. Im watching to see if CB actually breaks with tradition and moves a project like Bushranger forward to the stage of commercial activity.
There was a guy who posted some while back. Was invested in XTR in the past and said a lot of them lost money a few years ago. It was the same problems you talk about now (poor/no communication, overpromising/underdelivering,lack of progression) so it has nothing to do with the 'market'. I remember he said at one point- noone had heard anything from CB as per usual- lot of frantic emails etc and then someone found a photo of him on twitter at the Royal Ascot or something- dressed to the nines- and 'grinning like a Cheshire cat'.
You can have a look through the LSE history- its just a revolving door of the same thing in XTR and other CB companies im afraid
XTR is one of the better ones- you are 'only' down 50% from when CB took over
-------------------------------
Im a bit confused regarding the overlap between BZT and XTR at Kalengwa- can someone clarify?
Last year we had some [suspiciously] high hand held results there- the lab results were [suspiciously] delayed- it ended up being a damp squib- the lab results were nothing like the hand held results and way beyond the Standard Deviation of accuracy for XRF assays.
Even more strangely- we had new profiles who came on the board 2 or 3 weeks BEFORE the 'incredible' hand results at Kalengwa- ramping VERY hard- the SP doubled after these results- and then those posters disappeared shortly after. Someone made a lot of money. I would like to do a Scooby Doo "reveal" to see who is behind those profiles but you dont need to be Poirot to think about it.
------------
Colin Birds record:
Time he became CEO of BZT- SP 0.5âŚ.now 0.1
Time he became CEO of XTR- SP 10...now 4.5
Time he became CEO of Galileo 7.38...now 1.2
Im a bit confused regarding the overlap between BZT and XTR at Kalengwa- can someone clarify?
Last year we had some [suspiciously] high hand held results there- the lab results were [suspiciously] delayed- it ended up being a damp squib- the lab results were nothing like the hand held results and way beyond the Standard Deviation of accuracy for XRF assays.
Even more strangely- we had new profiles who came on the board 2 or 3 weeks BEFORE the 'incredible' hand results at Kalengwa- ramping VERY hard- the SP doubled after these results- and then those posters disappeared shortly after. Someone made a lot of money. I would like to do a Scooby Doo "reveal" to see who is behind those profiles but you dont need to be Poirot to think about it.
------------
Colin Birds record:
Time he became CEO of BZT- SP 0.5âŚ.now 0.1
Time he became CEO of XTR- SP 10...now 4.5
Time he became CEO of Galileo 7.38...now 1.2
Steve - For every post complaining about the comm's, there is a post to explain/excuse it. Explaining/excusing the comm's is fine the first three times, or even ten times, but after a while you have to accept you aren't going to stop people complaining! ;)
>> Did CB not say he'd be releasing the geophysics to the market and confirming when drill pad approvals were received? Do you think they are still waiting on them or are they being sat on (for whatever reason)? I
We've had the approvals. That can be inferred from the new drill locations. I'm fairly sure we have had the geophysics too. I agree we should have had that in an RNS and that in general comms could be better. I also know that CB reads here and will see all these comments and know there are holders who are unhappy about the current comms and that has been true for many, many years.
Pointing out that comms aren't great is fine the first three times or even ten times. After a while though you have to accept that complaining isn't achieving anything. Colin is the way he is. Yes, he should probably behave differently with regard to comms, but he doesn't and he won't change. This is the way it is at XTR and other CB companies. You either A) Accept that factor and live with it, B) Sell because of it or C) Regularly complain about something you already know won't change. I have chosen option A). I can only suggest to reduce personal frustration that other shareholders could do the same.
TBF I wasn't saying all LTH are overly focused on CB's past behaviour - just some of them. I also agree about the past missed deadlines, etc and I can understand why that can lead to a lack of trust among LTH. I also agree that same over-optimism will almost certainly happen again and anything CB says in interviews should be assessed in that context.
The only point I am trying to make - unsuccessfully I think :) - is that some people seem so focused on that element of CBs personality that it effectively obscures the positive elements he brings - deal-making for example - and prevents a more impartial view of the whole situation at XTR because the 'CB factor' is given too great a weight.
You could effectively ignore every Colin interview and only look what is hard knowledge and still see this as a great investment.
Steve - The issue is not that CB is a villain or the lack of comm's.... the problems is a lack of quality comm's and broken promises. Did CB not say he'd be releasing the geophysics to the market and confirming when drill pad approvals were received? Do you think they are still waiting on them or are they being sat on (for whatever reason)? If you say you are going to do something and then don't, then that comm's was bad comm's because it causes investor concern and has a negative impact the SP... as we can see.
howzap - None of us have seem the actual buy back terms and everything you say is speculation. I personally do not believe there is a lawyer in all Australia that would allow their client to sign a contract that compelled them to sell back an asset they were buying before they were ready to start the negotiations. I also do not believe CB needs to be holding news like IP surveys and drill pad approvals close to his chest prior to the negotiation (what advantage would it give?) and would go as far to say that doing so would be in breach of AIM rules.
The issue, as I see it, is simply unchecked enthusiasm and a lack of capacity to sufficiently think about/prepare the comm's. I would like to see some support brought in as it wouldn't need to cost a lot but would make a big difference in terms of investor confidence and the SP.
Steve4077
I donât think itâs fair to say LTH are âfixatedâ on them (missed deadlines etc) but you yourself have correctly stated that CB is not going to change at his age. I agree. So his personal character traits will not change, so if he has in the past been overly optimistic and missed deadlines and targets then I think it quite possible he could do the same again.
This is not just about deadlines though its about believing everything CB says in interviews. In short, I think LTH, from their experience here, are just cautioning some not to believe everything CB says all the time.
If some want to characterize that as being âfixedâ or deramping then thatâs up to them.
Howzap
Your 8.22am post was silly, provocative and condescending. I thought you were better than that tbh.
I notice the reference to LLLTH such as me and â10p FFSâ comment. A deliberate attempt to mischaracterise what I said. My 10p comment was my absolute worst case, as I clearly stated, and not my expectation. Iâve said many times I think buy out will be 20p+ and still do.
So much for your post 2 days ago when you said all views are valuable :)
This has been a great board over the years because alternative views have been respected. It has not turned into many other Aim BB with a brexit type debate where the alternative view is not just wrong, but so wrong that it can be insulted. Such as saying the other view is unresearched or they just donât understand!
You seem to try to discredit any view which does not fit with your narrative of âeverything is great and nothing can go wrong and if you disagree youâre a deramperâ .
For the sake of both of our mental health, I think we should just filter each others posts. I suggest you do the same with my posts, as some of my posts may annoy you when they donât conform to your view of the world !
Steve, the implication that LTHs are lacking in understanding and knowledge is quite frankly offensive. We have had one particular post this morning that spells out exactly that. I was replying to that post. Of course it is up to each of us to determine if we wish to remain as holders depending on how we see the prospects. Could I point out that history is a useful tool in how we weigh up those prospects as we see them ? To be so dismissive of how Colin operates in historic situations could maybe be described as "lacking in knowledge and understanding" also ? FWIW I am comfortable with my position here as I feel my experience of the XTR journey has allowed me to weigh up realistically my expectations. This growing pitching of LTHs against the "new knowledgeable arrivals" is quite frankly unhelpful and I for one would appreciate if some of the arrogance was toned down.
BTW I do agree that the past comms with the team in Australia have been excellent and I would like to see more of that. It seems reasonable to assume that CB must know that too. However, given his recent comments about 'keeping cards close to our chest' (and assuming that isn't misleading in some way), it seems unlikely he would want another similar video interview going into the model details until all his ducks are in a row.
We don't know everything - agreed. However, we do know a lot based on 100+ RNS in the last two years and can infer more from that knowledge base. If we had 100% knowledge then so would everyone else and there would be no profit to be made. Researching and making a educated guess at the gaps is where you can gain an advantage. Even you take a worst case scenario for the knowledge gaps, it is difficult to see a downside. The best case scenario is huge. What you do right now depends a lot on your risk profile, patience, confidence in your own research during a falling share price, and your ability to sift through ramps and de-ramps. patience
Yes, Colin is over-optimistic and we do have periods where comms is less frequent than the past, but still a lot more frequent than most companies. However, there do seems to be some LTH who are fixated on Colin's past missed 'deadlines' or 'broken promises' and assign more weight to that factor than all the hard knowledge already available.
It just seems crazy to me to assume that because we haven't had an RNS or interview for a couple of weeks that it must be because Colin is some Machiavellian villain of AIM, intent on hiding crucial information or causing damage to shareholders. He has 44m shares and options, which gives him considerable motivation to do a good deal for shareholders. He has already delivered a huge amount on BR already. What we have already discovered at BR and achieved at Manica isn't going to suddenly vanish because Colin sets over-optimistic dates.
Howezap Lordy Lordy. Quite some arrogance crammed into that post wasn't there :-)
The point is you don't KNOW how big it has become or what the average grades are until we have the official model. You dont KNOW if the change in comms in down to negotiations. You dont KNOW if Colin has been sincere even.
For your information I am fully aware of what the Bushranger story is and am comfortable with my research thank you very much ! I wouldn't wish to get involved in a "my dad's share holding is bigger than your dads share holding" but I would wager that many long term holders here have built up a sizable offering despite your KNOWING that we do not have the in depth knowledge or understanding ;-)
We know CB is capable of good comms, we also had a long period of inactivity from the company at end of phase 1 leading up to the conceptual pit release. With Colin explaining then why there was a need to keep quiet. So itâs not like it has happened before.
The last interview was only 3 weeks ago thatâs hardly a lack of comms. To look closely as to why there is a need to keep âcards close to his chestâ he even âtoldâ us, that is what they are needing to do. There is a good argument to support the idea that Bushranger is indeed the huge resource it has the potential of being, with reason to suggest that the terms of the agreement that gives AA an opportunity to make an early offer before any of the other options are met by xtract, is the reason why it is now covertly being put together.
If an early offer was made, the asset could potentially be undersold as any early offers would have to be seriously considered. The clear and present uncertainty in size of resource will make that very difficult allowing xtract to increase the asset value to where they believe maximum value lies within the constraints of their chosen timeframe and budget, protected by the very terms of the agreement to do so.
It is such a unique position to be in, without the agreement in place it would be a completely contrasting approach to resource building, reporting and marketing for sure.