The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Not surprised Andy, are a well run outfit, he invests in management that have history in what he knows. Wonder if he is aware of Xtr in any capacity through Manica, certainly Colin Bird.
Please let Colin know he isn't the only one let down by others timescales.
Did you know Rick Rule has a decent stake in Empress?
Any takers on the Rick rule interview? Few relevant segments on resource classification, funding, optimisation and touched on ore sorting.
Makes interesting point if we suffer a year or two of recession and subsequent capital discipline it could see many many lifestyle resource stocks wiped out with no way of raising money or any take up if they could no doubt. Leaving the select few to progress that have that ability to raise or an income stream.
Optimisation is quite normal and not a dirty word.
Ok with ore sorting if whoever was applying it had done so before successfully on the same type of ore body.
Early days so far in what will still be conceptual but Optimal had found a āsimilarā project that has successfully incorporated the tech with good 50% waste rejection while retaining 80% of the copper. Same ball park with BRās lower grade ore, to be seen if they will need to further āoptimiseā with increasing the resource to NW at RC and or looking into other ore sorting companies that could maybe improve the economics of the high grade if it were necessary.
Darn study is due but Colin did say donāt hold him to it as he has been let down by consultants timescales before š
Warrants have no bearing on the Directors investment in this company, they are merely an incentive that costs them nothing if not achieved and free money if it does. Free money they award themselves in the event they actually succeed, something I can understand but means if they fail it costs them nothing if they succeed they get a handsome reward.
Anybody, directors or otherwise, who believes the sp will reach 10p, would already have started filling their boots.
Maybe the directors are such noble minded people that they would rather leave this opportunity to the likes of us.
They are a performance related incentivised bonus, awarded immediately when the share price hits 10p they are not exercised at a discounted rate beforehand.
If the directors were confident they will one day exercise the warrants at 10p, they would already have bought zillions of these.
They have bought nothing.
They have as much confidence in Bird as I have but are quite happy to sit back and collect their directors fees.
Ntm the directors have been awarded 24,800,000 warrants between them exercisable at 10p as performance related bonus.
Employees get a further 8,800,000.
https://www.lse.co.uk/rns/XTR/award-of-share-options-m86nqgci5sa5gs0.html
Trust in the Board & CB!
Silberstein hands in pockets both here and GLR (FD in both)!
Ford hands in pockets!
Thygesen hands in pockets, non ex elsewhere in other CB companies!
Wonder why they have not "invested" in XTR? Lack of trust or just poorly paid by CB or they know something we don't?
You're a very funny guy imho OSV
Happy to stand corrected on this but Ford and Thygesen hold no shares in this company and Silberstein a very small holding. I'd trust the XTR board an awful lot more if those three of its four members bought a chunk of shares here!
If you'd like to make your first worthwhile contribution on this BB OSV, how about - please - asking your board member mates this question from me and feeding back their answers here:
Given this s/p is totally, utterly and completely flat on its face currently, if Board members - bar Mr Bird- won't buy shares in the open market here around now when will they ever? (And if not, WHY NOT?)
Thank you backtothesoil, you saved me a job putting the idiot in his place.
He's just got buyers remorse on the Ā£50's worth he bought at 7p
I'm amazed that somebody is unable to understand why there might be a lack of trust in anything Bird says but then I don't think OSV understands much at all.
Despite the downward sentiment across the sector the board have been working under difficult circumstances to build real value which does not yet reflect in the SP. Trust the board and Colin Bird's experience. it seems that a few smaller holders have over stretched but they need to show some resilience if they are to benefit from the inevitable upturn. It was very much appreciated that Colin Bird found valuable time to address the concerns of those mainly small shareholders. Perhaps now is the time to support the board. The lack of trust (from some) in people that know how this works is quite baffling if they are indeed shareholders.
I kinda hear you Jezzoo..
(Flat is one thing .. but the classic trickle on down if news that could be reasonably expected - eg q2 Manica - but is slow to be delivered has a punchy cumulative downward s/p effect ....... so, towards giving some impression of professionalism by you and your staff, stop your messing Mr Colin Bird and get out the Manica q2 numbers asap.... )
Andrew, the reason you can sell a large amount, will be because someone has a buy order in at a set price. Probably a trader.
I think most LTH and anyone who was a buyer TBH have bought just about all they are going to buy.
I haven't bought any more since the end of November last year when I had my final top up of 233800 shares.
I might buy another 1/4 million if it drops below 0.75p just to make my holding a round figure but that will be it.
I should imagine there will be many in the same position.
There won't be much buying until some good news comes here and yesterday, whilst it wasn't bad news, wasn't good news either.
It will be flat until Manica results are finally released and then will go one way or the other depending on the figures.
PS: the 'unknown' trade just printed here for 75,000 shares is a buy .. my latest buy..
(I continue to do my bit here.. and, including all circumstances, I'm genuinely surprised more buying is not occurring around these s/p levels around now)
I listened to the podcast and it felt a pretty impressive effort from - the one and only - Mr Colin Bird to me .... and reminds me that the current 10m ish gbp market cap here is brutally harsh, even in this awful market.
The 'imminent' q2 Manica gold revenue to xtr update - hopefully with some general steer for q3 numbers in that RNS too - should see this s/p rally decently.
(To me 2p an xtr share for Manica alone is now very easily justifiable.. and so even if you want to currently value all copper assets at zero - which feels extremely harsh to me - this share is still very undervalued on Manica Gold revenue alone)
Imho & dyor
Who is Rick rule?
Will watch later
Ā£5K buy gone through but MMs then put through a sell at 1p for 68 shares!
So now down 2.2% even though 490K buys v 68 sells
Hmmm?
Btw MM's will still happy to take 1.6M shares from me !
Really good interview with Rick Rule.
https://youtu.be/SDOgfrgtA7k?si=nEQfrm2Y6nVOaT4M
Colin was invited to ramble and ramble he did. Oxides 89%, sulphides 10-15 years, mission is to find oxides, 85kg/month. Question should be: What does he intend to do with the money coming in?
The man can talk the hind leg off a donkey if you let him. No surprises he bragged about Kalumbila/Sentinel. Honestly, you could play bingo with Colin's interviews. The way he banged on about IOCGs in Zambia and how underexplored the country is was hugely reminiscent of 2019 with Eureka. Look how that turned out. No questions about how the previous two ventures in Zambia have failed/been cast aside so why should this one succeed? His words are hollow.
Surprise surprise Kakuye isn't able to be brought online like he said before. It's more of an exploration venture than production. So that's another forecast that's been proved wrong. "It would be cavalierish to start stripping when you don't know what you've got". That's what you said we would do! Which brings us back to: what are you going to use the money from Manica for? This is so important but has never been asked.
"I feel blessed for our shareholders that we've got this acquisition". Many shareholders are 50-75% down. He's optimistic about the future. But still absolutely no indication of strategy to bring about shareholder value apart from being certain the Cu price will turn and harping on about sp/value disconnect. Nothing we haven't heard before.
Is it reasonable to expect CB, and the rest of the Board, putting his money where his mouth is and buying lots of shares shortly?
Reassuring interview I thought, there is a clear enough plan to progress assets within the limits of the treasury for as long as practical. Like I said, work has been non stop and will continue throughout any further down turn , whilst others have seen their projects parked up due to funding difficulties to progress he made the point on that xtract are on their way already.
Nothing changed at BR, they will wait for full study to see āifā further drilling will be needed to increase resource as and where necessary. They wonāt be drilling to 2mt or more thatās not what he meant. Viability over quantum to repeat one of his other previous comments. It was always going to be new age mine supported by higher copper price, thatās not a recent revelation, $4/lb was benchmarked in ā21 study.
Hope Kakuyu will see progression toward something that can bring in some cash, confirms they are not running any ore to plant in a small op to generate cash flow toward that bigger exploration prog short term. Plus side is looking to be a far bigger proposition.
Seems genuinely optimistic about the new Zambian ventures.
My thoughts too DREW.
did I hear 6% copper flat terrain ZAMBIA ā
Agree Jez
Invest profits Mozambique gold into BR