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Oh dear must have been another Bob. Yes was back row to the left.
Anyway was nice to be amongst REAL investors
dani ♦️
Not me, never been tall and slim. And cannot ever remember uttering words chartered accountant in my life, but yes realise yiu were on back row, left side as we sat, I was in middle.
Hey Bob
Thanks for detailed reply. M7ch appreciated. I too believe based on what ive learnt along way at BR there will be a resource in excess of 2MT. It needs to be proved up which means way more drilling an investment.
Like strategy of building income at Manica . Would love to know protections when plant expansion done and we get 50/50 stake.
Intrigued at end game plan for ZAMBIA Copper. In the meantime team C🎯l creating income which i hope will pay for lion share of drilling program.
Sector metals and minets momentum at low of 34 out of 100. XTR momentum now at 32 risen from 26 a couple of weeks ago. Hoping will increase substantially in run up to H1 results being announced.
I was on back row. Weren't you tall slim gentleman who spoke to me at the end of AGM? You asked if I was a chartered accountant LOL.
dani ♦️
Exactly that Bob, the footprint of the whole development will be immense, they certainly would not want to design it over the top of an underlying ore body, hence why the other large ‘outlying anomaly’ to the west of Ascot would need to at some point, be confirmed with some drilling that wether it is pay or not. There was hints to doing this in a previous RNS. That will be seen, but there is certainly time and is highly unlikely they will just park up the project until copper prices rise sustainably whilst they can continue to evolve the project.
Also with bulk ore sorting the plant needs to be as close to the mine face as possible to be at maximum efficiency with less hauling of all pay and non pay material before separation. They will also need to design waste dumps and low grade storage that will be put through later, these would be quite large in scale.
Everything changes with the use of BOS in a new plant but can see an ever evolving mine design that will probably be quite different from this conceptual design if and when it is at DFS and detailed mine planning phase. Something we won’t have to worry about!
Hey also need to find somewhere to put the plant
Interesting you mention the area between the two Cygnus, it is considered that the very low grade ore there could not be profitably mined to join up RC and Ascot due to the strip ratio tolerances that would mean too high a degree of waste material having to be shifted to be economic.
The 16 pit shell scenarios have been modelled on both the ore from Racecourse and Ascot, now if any of the ore sorting technologies can upgrade these lower grades too, sufficiently to be economic particularly after the CapEx payback phase when there will only be ongoing costs then it could potentially see the two initial pits being joined up after all.
Captain, I agree that the 2MTs of copper are in and around RC. There's a whole porphyry west of Ascot that is totally unexplored (very probably !) while Ascot is only poorly explored. Most of the later drilling was spent looking for the source of all of these porphyrys between RC and Ascot and was not successful. Eventually, when we can afford the budget (without dilution) we need to finish the job at BR. The resource needs to be increased by ~50% and hopefully by the time that happens the copper price will be flying. Just a matter of time.
Copper price is stagnant, the new model will still be "in development" until such times as it get's to 10k ish a tonne.
I thought that would have happened by now but it hasn't so we are in limbo and will be until does.
Don't hold your breath !
Hi Dani, not sure we ever spoke, I was one sat at front with odd socks, colin asked me to ask first question.
My take on BR was that the 2 MT is there, just needs more exploration, it will expand and expand as and when it is developed, but we won't be doing that, not the plan, (concentrate on maximising stability and income at Manica), high grade better not to sort, that will be profitable, sort capex and more for whole project, lower grade needs the sorting really, and they are looking into different sorting methods. Copper price is going to catch up, and sale will happen, but how long that piece of string is is anyones guess.
Timeline for the new model was now, mid sept, (but as copper not flying high, we might wait for that), meantime they look to progress projects in Zambia and seek others that can be progressed within bounds of Manica income, while price is good.
Colin wants to line ducks up news wise, with series of announcements, with aim to see a sustained rise and rerate.
Patience needed and watch this space was basic take from it.
JEZ am Confused about BR YOU NUMPTY
For the record if it wasnt for Mozambique Gold with dear C🎯l strategy of
Other company
♦️capital
♦️equipment
♦️workforce
I wouldn't be heavely invested as it would be nore akin to a binart bet.
Anyway question WAS for BOB not you!
Err ??
Hang on Ma Dani Baker Twinkle Etc.
HOW can you be confused ?
I thought you had this sussed ?
You say you have so why the confusion ?@?
Time to come clean ?
H8 Bob. We met at AGM. Im Dani you asked if i was a charted acccountant LOL. What was your take on BR? Very confused. COM !
Ords to that effect, strike while iron hot,
>>It wasn't last year AGM but THIS YEAR. I was there.
Wasn’t aware he repeated it this AGM too. Thanks
Guy
're BR
You wrote
♦️Don’t know da that was the intention given at last years AGM to strike while copper price is low
It wasn't last year AGM but THIS YEAR. I was there.
What has changed SO SO much in less than two months
As for other assets I agree wholeheartedly. Been writing about it for months.
You can call me CRUEL from now on
Colin did an interview on Zakstraferscafe today in relation to BZT. He commented on the fact that the majors are still demanding resources of 2 m/t plus.
He also covered the AIM frustration and funding issues.
I note that there is now general talk about giving PIs more of a chance to participate in secondary placings. RkH did that last year including warrants. Maybe it's something he could consider with his companies. Over the years the constant shafting of cheap placings with warrants has destroyed the credibility of AIM and wealth of private investors imho.
I try not to dwell on the past Jez some will fail others may flounder, was hoping for an earlier conclusion to BR but hey ho, there is potential I see in the assets at this point in time and the company to look on the bright side going forward. I hope Xtract can get the jump in share price that will give the opportunity for some of the more disappointed holders to rebalance. There should be a decent glut of news to attract investors in. Fingers crossed.
Don’t know da that was the intention given at last years AGM to strike while copper price is low. They will inevitably crack on with optimising the resource until they hit the sweet spot in financial model. They may try to negotiate to manoeuvre past the buy back before that happens if they consider it will be difficult to prove the DtM now and 2mt is not affordable.?? There is no target as such to head for now. So why wait? The agreement is the main hurdle so is still the biggest priority. Is likely they will carry on until all viable economical options to optimise are done, before sending that mail. ‘24 into ‘25 seems to be where BR is heading toward anyway.
Apologies Da I must have been compiling my latest regurgitation of repetitive parsley whilst you snook in there with your post. Good evening
Well Howezap, as Oscar Wilde said:
‘We Are All In The Gutter, But Some Of Us Are Looking At The Stars’
That seems to fit well with a cross section of posters here.
Good evening to YOU too Guy♦️
Interesting pointers on KAKUYU. Will it make enough to pay for $2m drilling campaign?
You saying we are nearly there to approach AA whilst copper price is low ?
H1 results can't come fast enough hoping it's 3rd week Sep and not 2nd October
It’s a bit unfair to call a share price fall from a spike as colossal VB. In that case how about the rise of 86% since Pre BR acquisition. Both have no relevance on todays share price, if we are just picking from any particular point in time.
The company is showing to now be in a far healthy state than what it was back on 2020 on revenue alone.
Also, BR is potentially near the top of the value curve with the mining model set to be tweaked until an optimum economic performance is reached.
Early signs are that Kakuyu is looking to be an interesting and potentially self sustainable asset that could become quite lucrative and have a long mine life.
The new large scale Zambian licenses are a complete unknown at present. One step at a time, first step is surveying to determine some reconnaissance drilling targets.
All could see asset values increase with successes, that should see market cap appreciation and be underpinned by some good income that easily covers the companies operating costs at present.
All too wishy washy GUYS .
Regurgitating bits from my posts over the last few months NOT good enough
Try this to get ARTS all RACEY 💔💔💔
BARE MINIMUM I AM EXPECTING. NOT PRICED IN ZAMBIA COPPER AND GAVE LOW BALL ESTIMATE FOR SMALL Mining outfits..
🍓H123 GROSS PROFIT £3m UP A Whopping 1276% H122 £218K.
🥦Gross profit margin Manica 68%
🎯Sales Growth min 505% now XTR ranks no ONE outta 200 metal miners
Let's see if we get PR with results to KICK start long awaited SP rise.
Fink you will agree dear C🎯l and team warrants a pay rise
From Italy with l💔've
Cruella
SP advance will depend on the long awaited share of profit to be declared. That is the missing piece of the jigsaw but hopefully in the next few weeks all will be revealed ...
Andy
Thanks for that.
“Also H1 royalty earned was c$700k so @ 3.375% and assumed $1900 per oz => c340kg by my reckoning for H1 production”
Assuming my 70kg is correct for all three months in Q2 that’s 210kg total for Q2. That would be 66% higher than Q1. So Q1 production would be circa 42kg a month = 126 kg in Q1 total
126 + 210 = 336kg for H1
Not far off your 340kg H1 prediction.
Others may disagree, but I think that will see the sp in the 2p's
"Simply Andrew, yesterday you were predicting/anticipating a 50% rise in XTR`s SP within the next 3 weeks or so”
Conveniently missed out my main point. That’s assuming the Q2 income results are as I believe they will be.
You may be right that even £400K a month profit will not do much for this share and that all your concerns and criticisms of the company are valid ie It’s a dog and will be for years sitting at this sp level. I just don’t understand why they need to keep popping back here on a regular occasion to tell us how bad this is.
Well actually , I probably do understand why you keep doing that 😊