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Found this on Alacran deposit while just browsing an old article from 2017 that shows cut off grade.
>>Initial inferred mineral resource at the deposit is 53.52 million tonnes at 0.7% copper and 0.37g/t gold, or 0.95% copper equivalent, including 7.37 million tonnes at 2.14% copper, and 0.41g/t gold above 1% copper cut-off.
From their 2021 PFS interestingly they use a NSR cut off.
The Mineral Resources for Alacran were classified using the 2014 CIM Definition Standards and have an effective date of August 3, 2021. The Alacran deposit hosts 105.6 million tonnes of Indicated Resources grading 0.44% Cu, 0.27 g/t Au and 2.52 g/t Ag and 2.6 million tonnes of Inferred Resources grading 0.20% Cu, 0.17 g/t Au, and 0.86 g/t Ag at an NSR cut-off of $1.78/tonne for saprolite and $8.85/tonne for transition and fresh material.
Higher grade but far low lower tonnage in comparison.
The Alacran deposit bought for 100m US (50%) is 101MT @ 0.41% copper, 0.26% gold and around 2% silver. Would love to see the cut off used ;)
Interestingly, the first 6 years has a higher payback. Copper at 0.61% will be mined. LOM is only 13 years though. Perhaps they could explore further.
Positives for us:
- deals are being done. Presumably companies are listening to the warnings about the world being short of copper and are actively pursuing new/current leads.
- our jurisdiction better, easier to recruit experts to North of Sydney rather than north of Medellin!
- our mine would be bigger
- interesting that this was bought, possibly due to capex being paid off by the high grade portion close to surface (ring any bells?)
Negatives:
- our grade is lower
- we are behind their timeline (their PFS was published in Jan 2022) so a deal will have to wait presumably.
Iceberg, if you're still around, do you still feel Ascot has the potential of better grades further south of current drills?
So out of the top 5 copper mines in Australia, only the top 2 have a life beyond 2039.
https://www.mining-technology.com/marketdata/five-largest-copper-mines-australia-2021/
Another copper/gold deal struck.
https://www.mining.com/cordoba-sells-50-stake-in-alacran-project-in-colombia-to-jchx-for-100m/
I think it's about £3e9 in copper
That's one way to keep warm :)
Not just China chasing copper:
Chennai: India’s copper imports, which have gone up from $2. ..
Read more at:
http://timesofindia.indiatimes.com/articleshow/91773922.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
China have removed the covid restrictions which should see demand and POC improve further.
Only good for XTR...
I thought there may be a bit more interest in XTR today following the last RNS.
Still sitting on my hands.....
Updated forecast after a strong month
Copper futures rose to $3.9 per pound, hovering close to levels last seen in June amid worries of incoming shortages and expectations that industrial demand will rise in top consumer China. Lower supply in South America continued to drive concerns of shortages in the near future, as output from top producer Chile slid 6.7% in the first three quarters of the year and mine protests in Peru hamper production. Commodity trader Trafigura warned that global copper stocks have fallen to record lows with current inventories enough to supply world consumption for just 4.9 days, and mining giant Glencore estimates a supply shortfall of 50 million tonnes in 2023. Eased covid restrictions in China also supported prices by raising hopes of improved demand. Also, the PBoC cut its reserve ratio by 25bps to stimulate industrial activity and combat increasing signs of a slowing economy.
* tradingeconomics.com
>>>I thought there was a midweek podcast all about AA and next April 22nd.
That was a tongue in cheek post. Referring to a podcast that was actually from 18th Jan this year.
Here it is anyway
18/01/22 midweek takeaway and target for talks with AA
https://podcasts.google.com?feed=aHR0cHM6Ly9hdWRpb2Jvb20uY29tL2NoYW5uZWxzLzUwNjQ0MzcucnNz&episode=dGFnOmF1ZGlvYm9vbS5jb20sMjAyMi0wMS0xODovcG9zdHMvODAxNDc1Mg%3D%3D
I thought there was a midweek podcast all about AA and next April 22nd. Cheeers.
Maybe the 7th Dec.
Cu$8537 looking very positive for end of 2022.
Here’s all 3 since JORC was released
29/11 response to steve4077
https://audioboom.com/posts/8204540-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr
24/11 Sunday roast RC 1.1mt & decision to mine
https://audioboom.com/posts/8201622-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr
23/11 Racecourse JORC Zak Mir
https://podcasts.google.com?feed=aHR0cHM6Ly9hdWRpb2Jvb20uY29tL2NoYW5uZWxzLzUwNTExMzMucnNz&episode=dGFnOmF1ZGlvYm9vbS5jb20sMjAyMi0xMS0yMzovcG9zdHMvODIwMTMxOQ%3D%3D
Anyone got a link for the midweek podcast please.
If Alex Terry is working on behalf of an investment company then I'm sure they must have done a lot of research and analysis before repeatedly increasing their holding.
Its also very encouraging they they still decided to increase very recently after the drop and panic recently.
So first mention of BR mid 2020. Andrew's table showing AT @10m circa 6m before that. wonder how long negotiations were going on before it was mentioned by RNS.
Probably all conjecture but it passes the time while we wait for the next bombshell.
Alex Terry IFC LinkedIn check him out
Ella10's post (when the sp was 5.35) who'd take that now!?
RE: Josemaria project28 Jan '22
Andy,
I would have a small bet on it being him - although I have no idea what he's worth. IFC took a significant chunk in Kiwara - I can't remember the numbers but they didn't hold for that long before it was sold so I think they would have done quite well out if it. I assume he would know CB from then.
So there is a link. Doubt it's his personal wealth buying shares but could be.
Whichever Alex Terry it is isn't the point.
The point is he had 46.5M in June 2022
He now has 52.25M in Dec 2022.
Whoever he is, he's confident of making a profit here.
Follow the money.
No idea which Alex Terry it is. When discussion this came up previously I highlighted that IFC were involved in Kiwara.
Thank you , very serious investment there , thought i had a lot at 2 million shares and still holding my nerve somehow , good to see that TR1
As Andrew had stated he notably continued to, or increased his holding when the threshold was crossed or reached on the 5th Dec, ‘after’ the Racecourse JORC was released on 23rd Nov
"Can somebody in the know find out when he personally started buying"
I don't know when he made the first buy but I have kept a record of previous shareholder holdings when updated on website
For Alex Terry
Nov 2019 20m
Nov 2020 30m
May 2021 37.5m
Dec 2021 45M
June 2022 46.5M
Dec 2022 52.25M
So started buying well before Bushranger purchase and has continued to increase many times each year.
He must be confident of a good conclusion :)
Can somebody in the know find out when he personally started buying in and had to declare a 3% holding , obs the Xtract site doesnt show that , old RNS ? I suppose answered my own question