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Colin Bird, Executive Chairman said: "BRDD-21-017 is particularly interesting as it is the first drill hole in this drilling campaign to test for mineralisation on the eastern contact of the porphyry and two extensive mineralised zones were intersected which provide the potential for near surface ore to add to the conceptual open pit."
Just waded through your website, Iceberg - Thanks. It really helped put Eureka and Bushranger into context.
ice, i agree wholeheartedly with point 3, i find your blog more informative to the layman than much of the information and comment put out by xtract . i have often thought they could benefit from more dedicated investor relations .
IMO, there are a load of reasons for the Market not responding to the RNS.
1. The general market is still in flight or fight mode/Sell or hold, there are lots of concerns, from global growth, inflation, China, raw prices, supply etc etc. XTR is clearly affected hence only a hand full of trades.
2. The timing of the RNS release was pretty bad, the Market is still largely unaware.
3. Zero exposure or advertising from XTR, no diagrams, presentations, interviews, no variety in interviews etc. No broker coverage.
4. The market needs confirmation that the bulk extraction has started and how much money might be incoming from Eureka.
5. Their is little chance or talk of things like resource estimates, so its difficult for the Market to judge value.
XTR needs to to come up with something for the Market to realise and price in. Whether thats an agreement with a big company, income, estimate of tonnage (even an internal one).
Eureka is still massive IMO and at some point the market will twig.
Isomer. Surely it isn't just about one man's retirement nestegg. We are after all a public quoted company with a supposedly independent board of directors.
I have a diesel Shogun, so not exactly green, but my daughter has a hybrid. Occasionally I drive it, but I keep thinking the engine hasn't started because it is totally silent :)
Off topic but on electric cars; only had it a few weeks but it's great, love not filling up at the petrol station, I just plug it into a free charger at tesco a couple of times a week whilst doing the shopping and that's all I need 90% of the time. My ideal situation is parking in tesco for free fuel and no parking charge and walking into town. 400 free miles done so far.
They want 4.17 for 250k. Ticking up!
I also ordered my electric car. Told i must wait until the end of November (5 months). Apparently there is a copper shortage. So come on Colin get your finger out, stop drilling holes and start getting that copper out.
That was on my mind with my last small top up, I can put the calculator away now!
10:35
And it makes the sums so much easier ! Lol.....
Isomer
It is on londonstockexchange.com
https://www.londonstockexchange.com/stock/XTR/xtract-resources-plc/company-page
bottom of page to see recent trades
I recently joined the 1M share club too! I can wait until Christmas but would probably need to sell a few just after. Bought an electric car this month to do my bit for the copper prices! (oh and the environment of course)
Good luck to you Isomer, Last week I made my final purchase bring my total to 1 million shares. As time passes I become increasingly confident. If Eureka is an IOCG feature then it could be as valuable at Racecourse effectively doubling the eventual share price. But still the market doesn't get it. A placing on the Aussie market would shake things up a tad.
I got the feeling we would poke a hole into it look see, then there are the other epithermals down south somewhere, thase can give very nice c9ncentrations of gold among other things, no mention of those since the initial presentation last year.
Very fair comments 3cardbrag
Would not disagree. Is fair to say the results are certainly positive. How they interpret is not necessarily straight forward to understand , for now at least or until an IOCG is confirmed with further drilling. So maybe with the focus on Racecourse, the wider market is holding back until there is more significant news from there. Maybe assays at first, but with certainty if are good enough to add strong economic value to the pit model. Then income from Africa……….
What will it take?
All the pieces are falling into place and we have not seen any duffers yet!
Which is the other Anglo trigger point
Well I'd be hoping that the African projects will mostly fund drilling costs..maybe a placing if we decide to go forward with open pit mine
Been thinking we really could do with an institution taking a large stake to really get us moving but buying large amounts on the open market is hard and causes a rapid increase in SP. I'm thinking they will wait till more information is out and will want to get in on a fund raise to buy large quantities. Maybe when phase 2 is done and we need extra funds to prove up these beasts we will get an II and the market will finally appreciate what we have??
Its going to take some reading to understand results. Its not like a oil company exploring for oil giving a number bopd figure. If CB can put a potential monetery value to assey results. Then you will get different response from PI's and II's.
The saving grace is that the SP hasn't dropped pointing to that everyone is looking for interpretation of assay results. Someone with a greater understanding is no worht their salt.