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AGM should be intersecting:)
CB's usual tactics of distracting and smoke and mirrors wont work now and he is going to have to deliver something pre AGM to avoid a very very hard time.
His usual distracting tactics have worked well, and this sketch sums them up what he was doing to all of us for many years !
Good luck at the AGM CB!
https://youtu.be/QX0r6DsvXAU
This was my analysis after some calcs I did in Feb using the older Optimal conceptual models from July 21 RNS. Short summary for those who don't want the detail... Seems breakeveb $4.25 /lb $1800 per oz. 9 year life, $1.4bn capex and looking only at higher grade at RC. It's not strong enough hence the Hail Mary shot with ore sorting.
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I mentioned before I have taken a look at the NPV using the original conceptual mine study assumptions. I have got close to the Optimal NPV model but I have ignored taxation.
I then plugged into the "Optimal" model the values for the higher grade element at Racecourse only. I updated the exchange rate of Oz$ to 0.7 rather than 0.75 in the model. I stuck with 8% discount factor.
It appears from this that the NPV produces a similar value to the conceptual study with a Cu price of $4.25 / lb rather than $5 /lb in the conceptual mine study. I think I have been fairly cautious with increasing both opex and capex by 10% for the greater ore body. I have left life of mine at 9 years. I have treated a small amount of the capital as sustaining so its very front loaded.
Gold is making a bigger contribution to NPV than in conceptual study at gold price of $1800
Clearly this excludes all lower grade ore and also excludes any of the higher grade JORC resource at Ascot as waiting to see updated Optimal work to know if it can be economically joined up.
$4.25 is getting closer to what it needs to get a buyer imho but I think it needs more work to get it lower.
I am sharing this here for discussion as the proper work to inform investment decisions will only come from Optimal and hopefully in the next couple of months.
The spreadsheet is a bit rough and ready, there may of course be errors but hope it gets a bit of constructive input and comments.
LW: A concise summary
Andrew : Bottom drawer is a how I see it, it's only a matter of time until it's worth getting the pick and shovels out, we just don't know how much time.
LW
I think that is a fair and accurate summary.
So IF anyone thinks POC is going to be hitting $12K + over next 1 to 3 years (possible much higher) then we do have something that a major will want...eventually.
Problem is its not as CB implied and will take much longer than he stated.
This is more of a "bottom draw" stock now imho rather than "sell or you will lose all your money"
OFC AIMHO.
US$8,000/t, US$9,000/t, US$10,000/t and US$11,000/t were used in the study.
these 4 pricing scenarios were then used at both 20mT and 25mT giving 8 shells.
These 8 shells were then used at 0.1 and 0.15 cutoff giving the final 16 shells.
All were cash flow positive if CAPEX was excluded (i should bloody well hope so).
Some had the potential to be economic if CAPEX applied depending on amongst other variables PRICE.
I conclude that non were economic at the 8 lower priced shells (US$8,000/t, US$9,000/t)
I conclude that the higher priced shells have potential if pre concentration applied successfully (US$11,000/t).
I conclude The US$10,000/t is around breakeven. My conclusion is based on my experience of Bird Speak accompanying the report.
Jeezuus Ma
WTF was that post about ?
Do you get it direct from the cartels ?
Even Dr Spock would be confused with that one.....
Then the capital costs can be reworked
Are just reiterating what was reported in the interim report, those 16 pit shell scenarios will then show as 16 development options once all other inputs from the resource optimisation are known.
It’s also a joke that XTR report that kind of statement I mean who cares if the revenue of the pit covers the ops costs, unless CB knows a Good Samaritan to build the plant for free……I get why optimum run these scenarios as part of a screening process but not why XTR feel the need to tell the market.
That para sums it all up.
Complete deception and obfuscation.
(Subtext seems to be, we dont want to give you the actual and current figures that we have as you wont like it)
What copper price basis?
"Sixteen economic pit shells were modelled from an operating cost perspective which highlighted that the 20Mt pa and 25Mtpa open pit options potentially generate significant operating cash margins dependent upon mining rate, copper price and cut-offgrade."
A decision to mine.
Was that a repost from nov last year joey 🐗
Thought it was Groundhog Day
Keep up.
Seible I think you are correct.
I think the segmented analysis putting the entire 283k tax on Moz has made it unclear and given the explanation in note 12 I don't understand why it all shows against Moz..
"Tax in Mozambique is eye wateringly high £283k on £405k profit. Can't see any explanation. Prior year was c30% "
I am not an expert but I think this is a charge for accounting purposes. See Note 25, where it says the tax paid was £92K, which is not that bad.
The Board of XTR has the doubius pleasure of announcing more bread for the foreseeable future but lots of jam sometimes. 24'5'6 who knows?
But we take this opportunity to thanks all shareholders who have contributed so handsomely to our nice fat regular monthly pay checks and share options and other perks in order for us
to occasionally inform them about the company they have invested their hard earned money into.One particular thank goes to all the rampers that have over the years made it possible for us to make investors believe that this is a race horse and not an old , overworked,diseased 3 legged blind deaf and constipated albino mule.
"the directors anticipate net operating cash inflows for the group for the next twelve months from the date of signing these financial statements.
the directors have assessed the working capital requirements for the forthcoming twelve months and have undertaken assessments which have considered different scenarios based on exploration and mine development spend along with a number of production forecasts until june 2024.
upon reviewing those cash flow projections for the forthcoming twelve months, the directors consider that the company is not likely to require additional financial resources in the twelve-month period from the date of approval of these financial statements to enable the company to fund its current operations and to meet its commitments. the group will continue to monitor corporate overhead costs on an ongoing basis."
they would really be taking a **** if they were to raise after this statement, so that should give us some hope we can go for at least 12 months without any placings.
Could he not have provided a bit of a current picture with the revenues that are coming in at the moment to alleviate the cashflow concerns?!
Held a few of these when the drilling on Bushranger/Ascot was in full swing and listened to CB’s enthusiastic interviews with journos. But the more I looked at the endless hype without delivery convinced me to cash out. Luckily broke even but would now be seriously underwater.
Money nearly run out based on todays RNS, more jam tomorrow possibilities means this only going one way in my humble opinion and that is sinking til the board can longer take the cash each month for their salaries then over and out. Someone posted the record of CB in all the companies he runs and the share price performances. Speaks volumes.
Hold on.
Are people willing to accept half the share price that CB said he would tell AA to shove it?
Personally I'd take 7p any day of the week. Been a long old journey..
"Give me 5p I'm out."
me too
20th June RNS "The Board of Xtract Resources Plc ("Xtract" or the "Company") confirms that it will publish the Company's audited results for the year ended 31 December 2022 before the end of this month, the timing of which reflects the change of auditor as announced on 30 March 2023. The Board expects to publish the Notice of the Annual General Meeting as soon as practicable thereafter and a further announcement will be made shortly." Promptly please Colin.....
Wouldn't it be fair to say that as gold production increases all in costs per ounce will decrease. Or at least that's how it normally works !.
I think we should all stop moaning at the next good news though. Let's pump and dump these shares onto others. Give me 5p I'm out.
We need to get in the person who negotiated the FB deal for MMP. Played a blinder.