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Really?
You got nothing better to do.
Just for you Cela - https://youtu.be/pxkOWjZAPLs
>>> Early indications of deeper porphyry under RC <
To back up this comment.
?From hole 16 19th nov RNS
Elevated gold values (40m @ 0.23g/t Au from 596m) below the main Racecourse porphyry body, along with a coincident IP anomaly, suggest that a secondary porphyry body may occur at depth below the main Central Porphyry Intrusion.
3 is definitely special number ,Colin would be ecstatic if it started with a 3
I heard that 3 is the magic number. At least that's what I heard on the radio !
A fair synopsis cela, I’m sure it could push 1.7mt from drilling the recommendations from the impending study on where to improve economic impact.
The one point I could add to yours is that it is not about the tonnages or even grades that determine desirability for a major. It will be how economically viable it will be to exploit the minerals to pay back CapEx and show ongoing profitability, put simply.
The 2mt is not relevant, now the decision has been made to per-sue, just the ‘Decision to Mine’ option of AA buy back agr.
This one is hot on Copper requirements Maybe Bushranger + Ascot might attract below.
Mining giant BHP Group finalizes $6.4 bln offer for OZ Minerals
I feel the magic number is 1.7 mt of contained copper to get the interest of a major 1.3 currently is still great but a fair way of 2 mt contained hopefully phase 3 should get us up to the required amount to trigger the AA option we must not forget Colin has close ties with 2 majors allready 1) Sandfire and the secondly first quantum minerals I’m sure especially Sandfire who operate allready in Australia would be very interested in purchasing this Copper discovery Xtract has even at the current Number of 1.3 mt contained knowing that could seriously increase with phase 3
Just a reminder of what’s in that sweetie bag. Got to be more than a 10p pick n mix
There is the western lobe identified in the historic geophysics posted earlier.
The solitary borehole 33 drilled into an eastern outlying anomaly and see it hit 15.5g/t over 2m has great potential and assay summary said it warranted follow up drilling to test strike length and dip.
Holes 38&39 identified 2 near vertical mineralised gold structures with indications they increase in width and grade at depth. Also warranted further drill testing.
Footrot saw two boreholes that indicated was close to a further mineralised porphyry
Early indications of deeper porphyry under RC
The new geophysics identified two ‘new areas’ of interest and also significantly identified a fault up to the north east of RC but here, maybe will see some more drilling to increase resource there.
It has been this later round of geophys that appears to have caused a stir in the company with the extra anomalies identified but yet still not reported. Would give extra substance to a new BR presentation after updated conceptual model is released.
Anything else to pop in the bag?
I guess time will tell , but depends how much someone want it.
"The practical aspects regarding an accelerating share price as shares are hoovered up in an attempt to get a holding interest have been explained by others previously too."
Yes, many times before.
I really hope someone tries a hostile takeover as they would need to get to 90% (for compulsory purchase of remainder) and by that time the sp would be way over 20p
The reason why CB said this doesnt happen to small caps in this sector is because it would be a very expensive way to acquire a small cap. Much more so than the more conventional way of offering a buy-out price at premium to the last 30 day SP average
>>>…that is my worry now as the price is so cheap possibility a hostile takeover at this price couldn’t be counted out…..
This concern was actually bought up at last AGM and dismissed by Colin Bird as something that doesn’t generally happen to small caps in this sector.
We are still far too speculative at this point to warrant a serious attempt. And besides, we have some protection of the legally binding buy back agreement being in place that any company would have to inherit and not worth the risks that come with it. Xtract have a long going good rapport with AA, that may not necessarily be the case for other majors to step on AA’s toes.
The practical aspects regarding an accelerating share price as shares are hoovered up in an attempt to get a holding interest have been explained by others previously too.
With racecourse and ascot nearly at 1.4 mt of copper
Present and Zambia comeing on line shortly
And fairbride possibly bringing in 3 to 4 million a year to Xtract why would you just purchase racecourse, you would simply purchase Xtract the income from fairbride and Zambia will give whoever purchased Xtract almost a free ride for the Australia assets , but that is my worry now as the price is so cheap possibility a hostile takeover at this price couldn’t be counted out but look at what they would be getting
Fairbride income
Zambia income (shortly)
Australia racecourse and ascot income ,possibly open pit
And the market cap is a silly 16 million
My original question!
And why is this relevant to Xtr??
Thanks HZ. Much appreciated.
The trading halt was placed at the request of sovereign, pending it releasing an announcement. ??
After quick check the new IP that was done across southern extent of RC and across ascot may have included this western lobe anomaly as the 6 lines completed totalled 17 linear metres so roughly 2.5km across so is likely covered both ‘ sides of the saddle’ By then though ascot was already identified so op’s were focused then on potentially joining up with RC.
These most recent IP survey results have not been shared with the market yet.
It seems this board has turned into a cryptic puzzle forum of late.
catsize, I really don't have time to uncover the hidden meaning in your post!
"Sovereign Metal
worth a read
dyor cat"
Me: what is your point.
please help me as I don't see any relevance
"for me you made zero effort to find out to what i was referring"
Good point Andrew, potential extends from regional successes along the Lachlan Belt which has seen increased activities in exploration throughout this region and NSW generally all the way down to the potential within the BR licenses and more so at Racecourse.
There is still the western lobe anomaly south of RC from historical (old) geophys.
This anomaly was not targeted for IP survey and subsequent drilling and still remains untested.
Hole 48 with a NE orientation away from the anomaly was the southern most to test extremities of RC mineralisation.
Any ideas, thoughts or recollection why not targeted.
Other than was maybe one to put in the sweetie bag that tbh is more like a bulk bag now.
?https://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf
zero
did you read their reason for suspension
for me you made zero effort to find out to what i was referring
DYOR cat
Possibly very large district potential....
Northparks / Cadia / Racecourse Corridor
Map showing my annotation and straight line link between Northparks / Cadia / Racecourse
The straight line intersection maybe irrelevant, but the intersection seems more than coincidence imo
https://i.imgur.com/LATqHE0.jpg
Legacy minerals, who are exploring just to the north of Bushranger. Their Rockley license is adjacent to BR’s other tenements EL8585 and EL8305. In ‘ 22 they conducted EM airborne and radio geophys surveys at Rockley and results were returned in June with very positive indications of potential porphyry copper gold targets. Rockley is situated along the same major dog fault line that runs up through Racecourse.
>>Higher grade copper assays (from rock samples) occur in focussed zones associated with 3rd order faults of the parent Native Dog Fault. These fault zones may have potentially tapped a mineralised
intrusion at depth.
There is also supporting evidence of widespread copper/gold from historic artisanal high grade mines with grading up to 21%Cu
https://investorhub.legacyminerals.com.au/4178158
The point is, if Rockley Gulgong sub belt can be highlighted to show greater district potential, then that can only go in favour of Bushranger’s desirability for a major to get a foothold within a ‘fertile’ localised region with also adding further interest to the remaining untested BR licences, that lie along the Native Dog Fault. With these results indicating a potential for further shear zone hosted copper gold systems their too.
It's not bad things, it's lunar new year. China is on holiday, copper price has gone down. Perfectly predictable.
Give it a week, China will be open, the copper price will have drawn a breathe and got back on upward track. This stock will follow...
Why do bad things whenever these lunatics rock up?
Makes you wonder, doesn't it. I can't believe they spout their inane prophecies of doom for the benefit of others.