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Hey Zap
What's your take on BR comment re moving to wards being saleable product?
Question
If AA not wanting to take it to production then if 16 models are financially viable then why not announce DTM now whilst copper price still low❓
CORRECTION TO LAST POST
SHOULD READ HAD AISC OF $1185 per oz
Yes NTM
You are right. Now I'm no WIZZ at reading all legal stuff
BUT
The original agreement states 23% of gold produced.
If All gold is sold at end of each month then taxes need to be paid hence why I said gold sales minus taxes.
If you look back at Q1 trading update is states MMP had AISC of $1812 per ounce yet in podcast dear C🎯l said AISC of circa $700 an ounce.
$700 would include taxes and team on ground costs
UNLESS
agreement has changed that we share OPEX costs with MMP
JUST about to figure it out with reconciling $1669 revenue figure
Back in bit
Fair enough andmilsy and apologies
NTM
No 140kg q1 and 340kg h1 are FB only.
Check my earlier posts and Q1 production rns from xtr
"Fair Bride, where Xtract has a 23% share of net profit, is now the main project at Manica ("Fair Bride"). Fair Bride gross gold production continued to increase during Q1 2023 and was 140Kg (equivalent to approximately 4,522 ounces)"
A444 agree... in the same ballpark
I have no idea of the exact wording of the agreement.. but in business generally arriving at a nett profit figure from a gross profit figure might readily include plenty more deductions than you might 'like' ... Cruella
Andy
Thanks for your thoughts. Not a million miles away from my calcs
I think 2000oz a month and $900 oz profit is more likely
so
So share of profit = 23% x $900 x 2000oz = c$414k = £340K (x 0.82).
So not that different. £340k to £400K a month should be the area ??
NTM
You asked
Cruella, Is xtr getting 23% of Nett profits the same thing as XTR getting 23% of gold produced, at Fairbride?
It is if NETT PROFITS equals gold sold less taxes
IE XTR gets 23% of gold sales less production tax and Land settlement costs.
Has original agreement changed?
Is XTR now paying 23% of OPEX?
I can figure it out by reconciling Q1 revenue
Was 36kgs of that q1 figure not for non fairbride production AndMillsy ie it was - the now finished, I think - alluvials?
(Which makes q2 even better ?)
Per my earlier post, I cut this from Q1 update RNS :
''The total gold production for these the Other Manica Projects in Q1 2023 was 36Kg (equivalent to approximately 1,156 ounces) of which the Xtract's share was 183 ounces'')
A444
Xtr told us q1 = 140kg
Empress told us H1 = 340kg
q2 is therefore 200kg eg 67kg pm.
Perhaps it gets to 75kg pm in h2 = 2400 oz pm.
Derived cost per kg in H1 was c$1060 per oz likely high due to ramp up (see earlier post). Let's say 10% improvement to $950 per oz for H2. So profit per oz = $930 as gold price down currently.
So share of profit = 23% x $930 x 2400oz = c$500k c£400k.
Remember this is pre tax and costs of the on the ground team, who likely have some oversight of FB, are being borne by alluvials and hard rock in the interim report.
Really Drew?
Jeez never noticed that one.
So in one week or so likes of Stockopedia will have updated numbers for XTR revenue upto end of Q1 plus ALL costs upto end of Q2. Resulting in skewed figures to the downside as they do not include Q2.
Next official update will be JUN24 which is for full year ending 31dec23. This is because quarterly numbers are not updated.
DOES not make sense even more. They have had 3 months to report Q2
Positive is we are making money!
We may indeed do Andrew.. more 'stage management' from CB, perhaps.. hopefully this time around works out decently in terms of getting some s/p upward momentum back here..
Last 2 quarter updates were released 9th and 6th 3 months after the period ended.
Maybe we will get Q2 between 6 and 9th of October?? ie next week or a week on Monday??
Long story - very - short .. for whatever it's worth... from Manica,Mozambique ..I'll guess VERY approx £3.5m revenue for this calendar year
(Kayuka not a revenue thing. this year, at least..... and - the elephant in the room- Bushranger not either )
So nett profit for xtr this calendar year I'd guess at very approx £1.5m.. (a good chunk of which has been now ringfenced for that JV prospect in NorthWest Zambia)
Hi NTM
Where are Q2 production numbers?
Don't understand why they are not included in H1 results?
Just skimming through now as am out but can't see anything reported for Q2
Thanks
Couldnt run a bath or lye straight in bed .
back of *** packet calcs (and not that scientific) .........
it looks as though q2 production will be circa 66% greater than q1 from looking at last few rnss
if so the profit should be about £1.03m in q2. so about £350k a month profit
that is what i expected . but it would be nice to have that confirmed :)
he is a **** taker , looking after him and his mates , doesnt give a **** about his shareholders , wish i had never heard of his name !!!!!!
Sorry typos in that post but u get the gist.
However NR sounds more encouraging
In a nutshell I bet a Bird in the is worth two in a bush!
Smoke and mirrors as well don’t think we have sold all the gold produced. Birdy is hold on to some like last time
All disappointed.
Bezant -7.7%
Kendrick -10.0%
Xtract -5.6%
Expecting similar story for AFP when that one gets published.
Pretty clear now that Bushranger is utterly worthless.
As I said last week it makes PI's very suspicious when the company goes into minute detail about things that are historical in the main but continue to be evasive about the important "current" information like the Q2 results.
As Andmillsy pointed out , we know the H1 results because of Empress production numbers yet, despite reams of info we don't get the ONE thing we really wanted.
Why the continued smoke and mirrors on revenue Mr Bird ?
Snap Andmillsy
(Ps: There was still a small amount of 'Alluvials' income in Q1 too: ''The total gold production for these the Other Manica Projects in Q1 2023 was 36Kg (equivalent to approximately 1,156 ounces) of which the Xtract's share was 183 ounces'')
Good news
"Based on the assumption that Fair Bride operates within its targeted parameters and no new business is consummated, the Directors do not anticipate the need for funds to be raised in the twelve-month period from the date of authorising the consolidated information"
Bad news.
No Q2 results which should be good to very good. We got this bit
"results are improving significantly and production for the three months ended 30 June 2023 ("Q2 2023") are expected to show a marked improvement with plant throughput increasing from 30,000 tonnes per month in Q1 2023 to current nameplate capacity of more than 40,000 tonnes per month."
But no hard numbers.
We will need those numbers for any significant sp increase.