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Phatbaz, I am thinking CBs silence on Xtr is down to what Zac Mir way saying about having a conversation with CB about all drilling would stop in May finished or not. Zac M seemed pretty certain on this subject. Zac M has interviewed CB about his other companies since this was mentioned, so to me that says Zak still sees CB as a man of his word. CB earlier in the year did also say he hoped shareholders would get a nice cheque come April. I think discussions have already taken place and are still taking place. That is the reason for the radio silence as negotiations continue.,(possibly). But CBs ambitious time frames mean delays are inevitable.
But the silence certainly doesn't go easy on the nerves, that's for sure. That's why I'm so grateful to the rest of you for the research.
Lucky I have not read any results from the tests yet. But as half of what I read on xtr sales way over my head I may well of done without realising it.
Meteorological testing I think might be the better description lol
Did we get the results of the extraction method/percentage? It's not the right way to say it but you know what I mean.
I think this is Colin's last XTR interview, now 9 weeks ago, XTR 36 min onwards Bushranger 42 min.
https://audioboom.com/posts/8048001-midweek-takeaway-colin-bird-special
In October CB talked about Bushranger and Anglo being a game of poker, could the lack of news be about keeping information out of Anglo hands. The fact they haven't announced the MIDAS results this time, and CB seems to be avoiding any talk about XTR seems odd.
Once XTR do approach Anglo with 2MT of copper or a decision to mine and XTRs valuation of the license, Anglo only get 10 days to make their decision. They might decide to send it for an independent valuation, but whatever happens, once XTR approach Anglo it should see the share price jump immediately.
Agree about the AGM, the latest date to hold an AGM is six months after the financial year end, that's 31st December for XTR I think, so should move back to June, they need to give 21 days notice.
Thanks Docit for all your hard work. I forgot Howezap, another excellent poster. I used to like reading News posts as well. But things happen, that's life. Your right, everyone is here to make money but some are here to make money for everyone invested, some are here to make money for themselves. I know which ones I respect more.
Nice, Philtered 1.. we all have a common cause and that includes the bashers, thst is to make a profit. What we can take from the bashers are two things. That is, they are likely to be here because this shate is active and secondly unwittingly in a way they help those of us who are able, to top up more for that judgement day. Which i might add is not far away as i see it.Be lucky and stay positive. The Devil is always sitting on thst shoulder.
Thanks Ella, it's a great bunch on this board. So willing to share information. Every board has it bashers when they realised they have missed out. That's how it works. Why else would someone bash a share unless they wanted a lower price to buy in. But on this board I have sat back and read, finding out who is trustworthy. This board is top notch, full of informative posts. People spending a lot of their time doing the hard graft and finding information to share with others. So thankyou to yourself, Andy Mills, iceberg, both Steves, Docit, Cygnus, I want that one and many others that I have forgotten about. Its so reassuring to know your invested in the same share a such an informed group.
Hi PhilTerd,
I wouldn't stress too much about your English. My English is far from perfect but this board tends to be fairly tolerant. I came across someone recently whose written English was perfect but they seemed to struggle to perform a simple subtraction. Funnily enough they had a background in finance.
Sorry for my English. Good with numbers awful at literacy
I'm sort of realising I have been thinking in the wrong area. And it's still guess work. I like to be ahead of the game in my strategy. Looks like it's wait and see then valuate when the information becomes available. I'm hoping to be a long term xtract investor now and don't intend on selling any shares. Because of the information that so many of you have provided over the last couple of years has given me the reassurance I'm investing in the right company. Also moving into the new licences I'm positive this won't the last time we have to think about such a conundrum. The whole area looks like a money pit. If it takes another 3 years to get to our next sale the price will have rocketed and we will be looking at a sale of a billion for a similar sale.
The other option is to transfer the non-BR assets into a new company at the point of sale. In that case, XTR is dissolved and the shareholders get some combination of AA shares, new company shares and a special dividend. That avoids any volatile movement in the XTR share price post-sale, assuming the new company is given a realistic market cap.
Something Iāve been wondering is whether there is merit in creating a new holding company for the Oz assets, ie an XTR2 that is not a subsidiary of XTR.
XTR would remain owner of the African assets whilst the Oz licenses would be transferred into XTR2. Of course current shareholders of XTR would become the new shareholders of XTR2 too.
That *might* facilitate a nice neat distribution of 100% of the Oz sale proceeds to XTR2 shareholders, possibly with tax advantages (donāt know - just surmising, but that might be the main driver). In that situation thereād be no residual value from the Oz assets remaining for further exploration by XTR. But then why would any be needed if the African assets are generating anywhere between Ā£6m and Ā£12m pa? ( other estimates are available).
I just think after the sale it would be more beneficial to the share holders and company to have 75 million in the bank. Once the sale goes thru an bushranger/ascot are sold, xtracts main asset will become the African assets. They are very hard to set a price at. Worth anywhere between 2-5p in most peoples valuation. 12.5 million in the bank will give a top share price of 6p after the sale imo. No more bushranger means the share price will drift imo. But 75 million in the bank imo will give us a minimum share price of 10-14p. Much more appealing to investors going forward. I will be much less like to sell shares after the sale if xtract take 30% than 5%. Simply because I feel my money will be a lot safer.
Phil: My comments are only my personal opinion and I have no prior knowledge of these things so it's little more than a guess but hopefully XTR will soon be self sufficient in terms of cash flow.
Thank you Cygnus. Giving xtract a boost of around 12.5 million. I thought it would be more than this. But your knowledge on this subject will outweigh mine. So about 23p a share to shareholders on a sale of 250 million.
Considering there would hopefully be African income by then I would hope they would not need any of the cash from RC to continue exploration. And if they do I'd hope it's a lot less than 30%. Maybe 5%.
After taxes of course
If or when a sale is made, does anyone have a rough idea what sort of % of the sale price xtract would hold onto to keep exploring in the future. I would hope about 30%. So a sale of roughly 250 million pounds sterling would give them 75 million capital going forward for further exploration. With so much more to explore this would underpin the share price for several years to come not even including African assets