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Really testing the 6p.. needs a little push, I have just added more
F100
Sorry $12k ...$15k in 12 months is a little optimistic :)))
And if copper hits $15k by the time the deal goes through ???
Compelling upside 6 bagger ..... At least..... what by the end of 2022 ?
Mid 2022 ?
>> So personally I would be disappointed at anything below 30p and I think it might even get to double that if everything lines up nicely.
BTW 60p is still less than half the market cap than GGP reached and it looks we have considerably more in-ground value.
I love seeing that calculation CE, purely for how Conservative I consider it to be!
I think we would be really unlucky to see anything less
>> What is a mine worth with 2mts of copper @ these grades.... Not the best but lots of it... and a porphyry on its side
To estimate, we need to have some assumptions. Lets assume we reach the 2mt of contained copper and lets also assign a price of $8k per ton (conservative as currently 10k+). The buyback agreement specifies an independent expert for valuation, so we need to assign a value to the in-ground copper. 3% seems to be the consensus on here, although given this will be open pit, in Australia and close to existing infrastructure such as railways and power, that is probably conservative too. Finally, lets assume the 845m shares grow to 1b due to options, warrants, etc.
Those numbers give us an in-ground number of $480m or £350m, which is 35p per share.
That excludes the Africa assets, which probably justify the current market cap on their own. (69m at 0.88% in Kalengwa, 27m at 4.6% in Eureka, etc., cash-generating alluvial operations in Mozambique))
That also excludes anything beyond 2m tons (and that is starting to look a conservative number)
That also assumes $8k copper price, which also looks very conservative.
So personally I would be disappointed at anything below 30p and I think it might even get to double that if everything lines up nicely.
In simplistic terms, if we get 3% of the total value of copper in the ground, POC is $9,000 and we have 2m tonnes in total = a buy-out price of about £400M
Makes sense B.. Thank you for your comments.
It's a good question BCB. XTR at 50m or Cobra at 6m? Panther at 10m? Greater downside for Xtract perhaps but I guess XTR at a different stage. Junior miners always have a risk of a raise (See ORR, BZT) to fund exploration but 5-6m in the bank currently plus African income 300k/month (?) will reduce this risk.
IOCG target in Mozambique too which is further on in the drilling process than Cobra, despite them having 6 targets.
Buyback option with Anglo American proves there is interest in what Bushranger holds. 2MT is the level they decided might tempt them to buy it back. Phase 2 drilling has so far indicated there may be way more than 2MT. CB sounds fairly confident on this and drills way outside the current JORC have been 700-800m long. You don't keep drilling if there isn't any copper!
To conclude, XTR just further along than other Juniors and with a definite option to buy back our principal asset. Very exciting times.
Thank you Steve and Benhowell459...
I have a small holding here now and thinking of increasing it .
What is a mine worth with 2mts of copper @ these grades.... Not the best but lots of it... and a porphyry on its side
so open pit ..cheaper extraction....
Market cap now. £50m... 850m shares @ say 6p
what have we got to look forward too not being silly... conservatively ??
BCB, I'm also in cobra (sleeping giant) but that is dormant until the next drills start. XTR are currently half way through our drilling campaign with assays to come bi weekly over the next 3 months to prove width of the ore body or outright extensions (holes 13/14/17).
This is no sleeping giant; it's awake, and the market may just about be starting to understand this monster.
>> Will XTR be mining open pit or will it be sold.
It will be sold and then it will be open pit. CB has made it clear he intends to sell.
Hitting 2mts (officially) will be the trigger point, although I suspect we are already close to that in reality. There are benefits to holding back on a JORC until more drilling is complete.
Good Morning Steve, Really good interview, Classic CB..
My question to you is ... Will XTR be mining open pit or will it be sold.
Jorc increase is the next step ....
But what is going to be reason for re rate....?
Cantor jumped to top of Ask at 6p, then moved down to 5.9p. Another MM is at 6p. The rest are at 6.1 and 6.2, with an outlier at 6.5p
The 6p sell off is underway, SP is hardly dropping, must be quite a few delayed buys in the background holding it up.
It will take a while to flush out the 6p target PI's then we are off on our way to 7p.
A huge UT of £50k at 5.8 just wiped us back down a fair bit!
With the AGM being on Monday, the next assay results could well be published before close of play today or on Monday. Colin did say that the assay process has been streamlined so that they will now start to come through more quickly. Either way we can expect a comprehensive update of the current state of play and also get some candid answers to our questions at the AGM.
I am looking forward to Monday!
SL - Hole 10 was reported as finished at the same time as hole 9 an therefore (although a little longer) the assays shouldn't be far behind. It is also over 9 weeks since holes 11 and 12 were reported as finished... so they shouldn't be far behind either!
Ticking up nicely and still no news bomb. When that lands it will get really interesting.
For anyone who doesn't know what all the fuss is about then watch Colin explain.
https://youtu.be/iWwCu3DnatU
i think the next move will be AA showing there interest,watch this space,we all no its coming just when is the question.
Nice to be in health profit, for a while a least! So are we expecting a nearly fallow period for RNS now? Next assay results maybe 10 days time? Even if we get a start of next two drill holes that would be interesting to us xtr followers, but not I would guess the market. Not sure what happened to the model revision and that may not involve an RNS. Is any imminent news expected from the African part of xtr? Interesting to see whether the share price now has momentum even if we don't have market-moving info arriving for a couple of weeks maybe. Any views on what might be the next news bomb coming in?
getting closer 5.90 now c,mon xtr
can we break through this today