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This reminds me of that scene in the big short where they conclude the short transaction:
Jared Vennett : When you come for the payday, I'm gonna rip your eyes out. I'm gonna make a fortune. The good news is Vinnie, you're not going to care cause you're gonna make so much money. That's what I get out of it. Wanna know what you get out of it? You get the ice cream, the hot fudge, the banana and the nuts. Right now I get the sprinkles, and ya - if this goes thru, I get the cherry. But you get the sundae Vinny. You get the sundae.
Vinnie Daniel : All right. I buy that. Thank you.
I'm holding for the sundae. AA buyout celebratory sundae!
I agree, it seems to me that 4 or 5 weeks wait on a share is no time at all, why would people cash out now? we know the good stuff is in the ground and potentially even more good stuff under it, what else do they want, jam on it??
It’s mm’s job to create a market. No issue as you say with them keep walking it down .. then get overwhelmed with buys when they take it too low and they can sell ‘rinse and repeat’ as the expression goes. I’m with you focus on the facts and the discovery, the price will look after itself. The shares end up by that process of not your 10% ers but of holders who will let it develop... unless you are a yoghurt stirrer or a neandathol who struggles to walk around upright you are going to be able to tell in a month or so that this is big and should be valued much higher. I’ve said previously on the board (for the company more luck than judgement) that income streams from elsewhere were just within a relatively short duration of coming on line. If they had rerated based on those they wouldn’t have been much lower than this price .... ignoring this discovery. Long way to go before any of this 40p sale talk ... but that undervalues us right now without it.
Steady as she goes. With any luck this drill result will be the driving force for a positive SP upward trend and these levels never to be seen again. Investment fund companies will also start waking up. Then as ogm4 says steady flow of news would drive this to party days just in time for Boris to open up the UK. Boy we will party
From CB for a few day now. The drill must be on it's way down to pay dirt by now. My guess is 5 days drilling @ 60m per day equals 300m down minimum. Therefore update may take a few more days to warrent a significant update
that's how I got into XTR. a few years ago it was held by some micro cap funds I was looking into where I chose to buy a selection of the companies rather than the whole fund. that included Sigma Capital, Fevertree, Next Fifteen, Blue Prism and Learning Technologies so not a bad bunch!
You’ll have fun finding out Steve. But here’s a snippet of what I uncovered.
transgressive phreatomagmatic breccia are the GIANTS of the World of Porphyrys. Quote from my source link:
“Phreatomagmatic breccias could be considered giants in the breccia community.”
Phreatomagmatic breccias tend to form as an inverted cone shape. Largest width at the top with the walls dipping more sharply to become almost vertical deeper down in the deposit.
THIS IMO is why they now want to drill HIGHEF up in the system because they have established the broad shape of the system ie. Phreatomagmatic breccias are inverted cone shaped and they want to establish the width nearer the surface which should be wider.
Read the article, it’s heavy going, but the information is all there. Oh one other thing, apparently the central ore body in Phreatomagmatic breccias tend to be HIGH GRADE. There’ll be no shortage of sufficient grade mineralisation from what I can establish...
“The close association of pyrrhotite with the chalcopyrite copper mineralisation, suggest the Racecourse Mineral Resource is a reduced copper-gold porphyry deposit, in contrast to the oxidised porphyry copper-gold deposits, which are more common throughout the Lachlan Fold Belt in New South Wales. Reduced copper-gold porphyry deposits are known to have a higher proportion of gold in comparison to copper.”
Not a geologist, but a quick Google search shows that phreatomagmatic breccia are associated with large finds by Condor and Eurasian Minerals as examples. Their market values way above XTR. Sounds very promising. DYOR.
Breccia is fragments of rock cemented together by fine-grained material. A phreatomagmatic breccia is formed when upwelling magma encounters water (and porphyries are all about magma rising up). I think transgressive means that the area was covered by the sea when the upwelling happened.
I haven't figured out what that means for mining yet (apart from the porphyry formation) , but I will get back to you when I do :)
With all the news that is due over the next 4-6 weeks, I simply can't believe the market cap is not headed towards £70-80M in the short term, which is why I have just topped up again with another 50k shares at a tad under 5.6p
And the MM’s can sod about with this all they like dropping the bid, opening the spread it makes no difference. It will take time of course to conclusively prove up but the market will know for sure within the next four/five weeks that this is a GIANT discovery. And we won’t be faffing around at 5 or 6p then.