Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
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Brilliant! Thank you. :)
Remove the space between vox and markets
https://www.vox markets.co.uk/listings/LON/XTR
Does anyone have a link to the podcast? Looked but can't seem to find one.
Hi Shorn
From memory he did then say 50,70 or even 100 years.
Cheers
James
@Phatbaz,
CB's actual words on the night were - the LOM would probably exceed the life of those in the room watching the presentation.
So let's not get ahead of ourselves.
Hmmmm a mine life of maybe 75years, I'm begining to think Colin may have played this game before.
imo it will depend what the wider industry perspective is on future price of copper.
If AA are looking to the future expecting this longer term outlook to increase they know that this will affect the fair value calculation that a 3rd party assessor would make on this share. It might the the thing that prompts an early offer from them, maybe as early as the end of this drilling campaign.... but it would have to be a big offer in todays money or they risk the 3rd party assessor.
As Colin said (in the short clip I saw from thursday) its a game of poker.
Im just speculating
With resource stocks the "multiplier effect" would mean a greater than 30% increase in profits for a major.
Example for illustration.
If breakeven was $6K and POC was $10K then $4K profit margin. If POC increased by 20% to $12K then profit would be $6K so 50% increase in profits. I think a major would be prepared to pay more than the extra 20% increase in POC.
I maybe wrong, but I think a higher POC would disproportionately increase buy-out imo.
The price of Cu is a big factor here. If the price were to rise from 10k to 13k during the exploration phase, BR has an inherent value 30% greater. That alone could drive the sp from (for ease of numbers) 50p to 65p which will obviously mean a lot of cash for a lot of people. So, in s sense, time taken to prove this resource could be our friend.
5 to 6million tonnes I'd bite your hand off..... but .... at what price for copper? It might be 20000 by 2025 but it won't be there for the 30 year + life of mine
Whilst I don't want Colin to sell too cheaply, I think some of us at least would be happy (maybe) to sell based on 5-6mT plua contained copper leaving some for AA to 'find'. Trying to get all the copper (e.g. Footrot as well) fully identified before a sale would probably take too long. Anyway Australia might object when we ask for permits to drill in the centre of Camberra!
And remember..... in addition to the South East that is being drilled now, the South that was shown the recent map, there is a extrusion jutting off to the east from 2/3rds of the way up the original drilling zone.
Not even mentioned in this recent info but looked significant too..... I guess its all about focusing on the goal.... and when the goal is already so much bigger than target what are you gonna do?
Would agree shorn I would say it’s a future objective. It does go to show how project objectives can shift within an exploration phase. Footrot being one example. One could argue that it still hasn’t been discounted but the paragraph from 2nd sept RNS focussing EM on new south east target suggests to me they not going to footrot. Also, at the time the webinar came out the objectives were to drill the higher grade parts of the central part of the resource, the south east anomoly and also the parallel zone. Which, from drill targets for remaining holes discounts the parallel zone.
Is proving to be a methodical approach to proving up the asset without getting too far ahead of themselves and risk the market further misunderstanding significance of data. Keeps objectives clearly understood in proving up the 2mt+ with the confidence the threshold can be met from less of what has been identified.
howezap
Thanks for that clarification. Taking your description and relating that to what was said the other evening is what i was asking andmillsy for his take on it...
"...The anomaly to east/ south east that is being focused on ‘now’, is the saddle, and the main resource referred to by CB...."
Comment / question -> i assume this is part of the 2nd phase drilling (specifically H: 13,14,16) in order to prove it's potential to extend the current open pit model & 2MT ?
"...The anomaly just further south (the most southerly) which is referred to as, the parallel zone of mineralisation. This is ‘not’ being drilled yet, but has been confused with being the south east anomaly..."
Comment -> What i took from the talk the other evening with CB was that this would be a future objective, and not part of the proving of 2MT+ (AAL option / decision to mine)... - and that's what i was looking for confirmation of...
IMO ATB Shorn
From 2/09 RNS >> · Processing/modelling of the drone-mounted magnetic survey at Racecourse will continue, with a focus on the new south-eastern target indicated by hole BRDD-21-014
Just wanted to clear up a point that maybe of confusion. The anomaly to east/ south east that is being focused on ‘now’, is the saddle, and the main resource referred to by CB. The anomaly just further south (the most southerly) which is referred to as, the parallel zone of mineralisation. This is ‘not’ being drilled yet, but has been confused with being the south east anomaly. However it will be interesting to see if this ‘further’ anomaly will be a further extension to open pit making it potentially 3.5km long or a separate pit. Could be an absolutely humongous resource with CB suggesting a mine life of maybe 75years!!!
Reference from Sunday roast very positive comments.
Webinar conceptual open pit. https://youtu.be/AEIwR_0S7SE
Very enthusiastic and supportive comments made about XTR and CB’s Thursday presentation made today on this podcast.