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I sold some, not all, just after the AGM.
Lol, touched a nerve 🤣?
Lucky, 10th of Oct. you wrote: "Andrew4444 Said I was a weak holder for selling, doesn't look like a weak decision. Actually after holding for so long it's quite a brave decision to sell. Looks like I was right. Could buy back in what I sold, think I'll wait." Ref: https://www.lse.co.uk/profiles/lucky520/
I'm confused, because it sure looked at that point (not two weeks ago) like it was in fact YOU gloating about being right / having sold prior to a drop... so which is it, because you're now saying you're a holder and you'd take the money and run at 5p?
A couple of phrases spring to mind... 'pot calling the kettle' & 'oh what a wicked web we weave'.
Looking for a spike to exit doesn't insinuate your a trader lol, its 90% of xtract holders, after all the BS.
I'm one, give me 5p I'm gone. Can't see it happening for years though.
Lucky, I don't think I boasted about it, I just made the point that if you're not trading some of your holding in penny stocks you probably need your head looking at. For the record, I trade approximately 10-20% of my holding at any given time, as is my prerogative.
Let's be fair about what I said (and I quote): "...whilst I broadly agree with your statement, the SP is up circa 60% in the last month. Hands in the air, as a long term holder of a large number of shares - even I traded that move.
Buys at 1.30-1.50 to sell at 2.00-2.20, cheers then."
Ref: https://www.lse.co.uk/profiles/jdau/?page=2
I've been one of the longest term investors here through thick and thin so I don't exactly appreciate the insinuation that I'm "looking for a spike to exit" like a short term trader with no interest in the company.
I'm simply pointing out that it's a bit ridiculous that a company makes circa 10% of its market cap in one quarter and the market seems relatively unphased.
Will I trade any move the SP makes, undoubtedly yes, if you require transparency (which I'm, not remotely required to give you, but will do so out of my own free will) I bought circa 400k @ 1.09 and another 100k this morning @ 1.20.
Will I sell them when the SP starts to better reflect true value? Yes.
JDAU, you want more of a spike to exit?
You traded the last spike and boasted about it, what's your exit price this time?
An additional bit of positive news today:
In AFP, First Quantum have entered into a JV with AFP on license 27767 (see their RNS). FQ will be spending money there on further exploration to obtain a 51% interest. They may also exercise their option on AFP 27770
Both of these licenses are adjacent to XTRs license 30459 - so it does appear to be in an interesting area.
All shown on the interactive Zambia ministry of mines licenses map.
Agree with the majority that it’s a decent RNS, $/oz was more than anticipated on the revenue front and the cost front.
It’s a shame that they didn’t break the Opex cost down a little more E.g production tax were $120/oz, infill drilling was $x/oz etc. I see CB comment that they think they can get it below $1k/oz call it $900/oz after production taxes but this is still more than what’s been stated in the past eg see 2022 full year reports which were 800/Oz, so would be good if he can elaborate and inform investors what’s changes (inflation etc etc)
I think the Alluvials are basically done now, so these dropping off make sense to me at least
In case anyone needs it spelling out for them, XTR just announced it earned circa 10% of its current market cap in Q2.
In the words of Maximus Decimus Meridius: "Are you not entertained?!"
ref: https://www.youtube.com/watch?v=ZtyjY6VjF9Q
The response from the crowd / market seems to match...
You might be right but ownership of Chinese mining companies usually works it's way back to some CCP types so they are not quite as independent as us westerners might imagine.
I unfortunately haven't got time today to compile the HR and alluvial numbers but haven't they been trending down over time?
Always happy to have my off the cuff observations proved wrong!
Yes ZB largely in agreement
I don't buy MMP were busy on FB so alluvials and hard rock went down becuase they were separate contracts with others I recall mainly Chinese producers.
Currently defined resource is circa 7 years mine life @ 480kTpa
Andymillsy, l posted similar observations on the Production update thread. The production numbers are all going in the right direction, but the AISC isn't. Area for improvement.
Regarding the low values from HR and alluvial, l think this reflects the focus by MMP on getting Fairbride up to full capacity. Thank goodness for Empress providing useful numbers way ahead of Extract.
Ta, Z
Good news 82.9 Kg for July so above 80kg a month could be the norm
Bad news $1215 AISC
$774 profit
July 82.9 kg = 2787 oz = $2157138 x 0,23% = $500K a month pre tax profit = £400K pre tax profit
We may need to see Q3 results showing 2700K oz a month production steady state and AISC nearer or below $1K for a significant SP increase
Looking good though and moving in the right direction !
How long is Fair Bride predicted to produce?
A good RNS, clear and concise - very good to see over 80kg per month in July 23. If we can get anywhere over 90KG per month and keep the costs down the numbers will start to sing.
Just a question of using the proceeds wisely now!
Positives:
1. Realised gold price at 1989 per oz is decent
2. Empress numbers can be used in future as accurate and earlier indicator for XTR. They reported H1 as 340kg 10931 Troy Oz an age ago.
3. July apparently is a big step up in gold produced 82.9kg versus June 62.6kg
4. Improvement in production across most metrics is good quarter on quarter ( tonnes mined and process, grade and recovery)
Less positive:
1. Operating margin at (1989-1215) 784 per oz is at lower end of my expecations. However it is stated this was due to inflill drilling but unclear if this is one off in nature.
2. Alluvials and Hard Rock seems very low.
Would have been helpful to get an updated view of cash position and collection of the operating profit share from MMP as it appeared at half year end this was largely accounted through as a provision and not reflected (fully) in cashflow.
Grade, recovery and throughput of ore all ramping up.
Costs up due to infill drilling for grade control, but balanced by decent sales price of almost $2000/oz.
Income of approx $1 million per quarter.
Not bad for a $10m mcap company.
If a dividend started getting paid the share price would head up to more reasonable levels.
Agree OLD
POSTED THIS CAN YOU ANSWER?
Can someone explain why Colin stated in 6 Apr podcast of AISC 700$ AN ounce to XTR for Q1 yet in report it says 1185 an ounce - that's one helova difference
Also is the nett profit agreement permanent with MMP or will it revert to original agreement and if so what milestone needs to be reached?
Thanks
Confirmation of the value that has been created for shareholders. Excellent progress.
89kg produced for July . Wasnt expecting that!!!
"The Net Profit share due to Xtract for the 6 months ended 30 June 2023 is estimated to be US$2.1 million."
Ref: https://www.lse.co.uk/rns/XTR/manica-q2-2023-gold-production-update-7j0jyqnq4a4tz5m.html
Q1 - Oz produced: 4,522
Q2 - Oz produced: 6,456
Looking good, I make that circa £944.5k to XTR for Q2 and it looks like Fairbride is starting to get up to speed.
Especially since Manica appears to be about all we have here to create any value....
Can someone explain why Colin stated in 6 Apr podcast of AISC 700$ AN ounce to XTR for Q1 yet in report it says 1185 an ounce - that's one helova difference
Also is the nett profit agreement permanent with MMP or will it revert to original agreement and if so what milestone needs to be reached?
Thanks
Not wishing to appear stupid but can any of the experts here confirm whether this is a positive update or otherwise. Cheers in advance.
Try this:
https://www.londonstockexchange.com/news-article/XTR/manica-q2-2023-gold-production-update/16178366