Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Yes, so if deal done when SP was .7p,, now over £2.5 .plus we gave away a bigger % of mcap. RNS should have stated so deal was done at..
SP done at
CE - have you listened to the TW podcast I recommend to you yet?
Some good info on the potential costs of the projects you're questioning - can't remember the exact figures off the top of my head so don't want to misquote them...
For what it's worth, I took away from that interview that the bottom line was that the costs for what we have planned are definitely manageable, I think CB had a couple of different avenues for potential ways to fund the copper project(s) to production, one relatively cheap, one more costly but the potential returns obviously relative to the expenditure.
N.b. subject of selling projects once proven was also discussed as an alternative to funding further progression/production etc.
FYI - we're talking circa £1-£6m (I think), not stupid money considering our likely income, I don't want to be more specific in this post because whilst I have numbers in my head, I'm not 100% confident without a re-listen so don't want to misquote.
If you don't want to pay TW 99p, which I wouldn't blame you, I can re-listen and transcribe the relevant bits at some point soon... I'd rather not transcribe the whole interview though as it's over an hour long!
CB is overstretched a lot with all his interests already.. and what does he do .. he overstretches himself further again?
I guess/hope this will hurry up his efforts to get a new MD into Xtr.. a good thing I feel but will add meaningfully to expenses too .... at a time when the co. has very little revenue STILL
A good asset seemingly and a good value purchase.. but that's only a small part of the overall point.
CB is a dreamer imho.. and he's got LOTS of money already and he's old ...so if bets go badly for him it's academic.. plenty here do not have lots of money.. etc..
PS: Another 'raise' or two to come here still this year, I altogether guess now even more than my post this morning..
The acquisition shares were pegged at 1.25p - so a relatively small discount to yesterday's close ( about 12%). Not bad for a world class acquisition, providing that is what we have got...
@Blueballsnall.. it does...
Under "Key terms of the Agreement" - issue price of 1.25p per Ordinary Share
(Ref: https://www.lse.co.uk/rns/XTR/bushranger-copper-gold-project-australia-ruch7998ffjy5a3.html )
Men's testicles to the that..the sells starting to come in, PO forward selling maybe...Jesus just when share holders are about to prosper from manica, bird flashing the cash we haven't yet got a sniff at..with another purchase rumoured pyo88 will probably be correct 1p ..to tell you the truth this is stupid..if it does ever get to 2p adiós, I'll shut up for another 2years for now
So 100,000,000 shares ffs
I wonder what our new esteemed (sic) shareholder TW, will think of this.
CB needs to be careful as TW does have a platform to express his views to a wide audience. And he's not shy at giving his opinion. (whether he's right or wrong).
Good or bad this deal just feels like groundhog day to me.....More dilution, increased expenditure and more promises of Jam tomorrow.......When will it end (i.e. when will we see 'shareholder value).
I just feel frustrated and deflated. No need to do this to get where we want to be imo. We were on track to do that.
The 10p party may still come, but I would like it in next 2 years not 12 years !
In full agreement A4444 - already been stuck here for 6 years now. Bird been promising 'shareholder value' for circa 4 of those years.
Is this really what most shareholders want? - I think not. I imagine most of us want to break even and see a decent amount of CiB at least before he starts **** like this!
Wonder what salary the new Xtract director from PO will be on...more than LTSH
I'd be interested to know too. Bird was bemoaning salaries on the TW podcast recently. As I recall he thought 50/60k was reasonable for an AIM CEO....
pay him in share options!!
That should encourage any CEO to perform!
Bird needs to explain this deal, in hindsight I am pretty unhappy that some unknown entity are about to receive 100m shares in XTR at a time when the value of the company is expected to increase significantly. He has given away around 20% of the company to acquire this Licence/Project + there are other associated costs.
Looking around recent resource licence aquisition deals on AIM the price paid seems rather top heavy in my view, many deals are paid for in staged payments with success payments made on delivery of project growth.
As seasoned followers of Xtract Bird does seem to like doing deals with private entities who are hard to research, who is behind this company, who received the finders fee, if the licence is so dynamic why was it available ?
We already had a 'blue sky' project in Eureka and both Zambia and Manica will deliver revenues, surely this would have been enough to be getting on with. It will be very interesting to see what Tom Winnifrith has to say about this deal, if there is a rat he will find it make no mistake.
On reflection disappointed, 100m shares priced at 1.25p can be sold in stages , will they be sold, you bet they will IMO.
I hope this will not lead to yet another drag on the SP for months and months if they need to sell. Lets wait to see what Bird can offer us by the way of an explanation but it had better be good.
LW, what do u expect 100m free shares to do to the SP, from what I can see PO, was worthless,no cash FA to develop this asset and bird throws them at Least £1.2 unbelievable imo
Blue, according to the fag packet calculations, the copper in the ground is potentially worth 1.7 billion!
And we bought it for 1.25 million. Seems like a bargain to me. What do we know though ??
How much did PO pay Anglo in 2017...
has agreed that on notification by the Seller, prior to Completion, to settle from existing cash resources, a maximum amount of A$200,000 (£108,000) in cash relating to outstanding liabilities of ProspectOre, primarily being the cost to acquire the Anglo Tenements as described above, and Director loans of A$25,000 (£13,500).
Well I hope I'm wrong but we've paid 12fold what PO paid in Dec2017 ,and paid the debt which is what they paid for the asset..have I read this correctly..?
S30 days to verify that ProspectOre is the legal and beneficial owner of the Tenements or, in respect of the Anglo Exploration Tenements, has a legally binding right to acquire such.
They exist: Name: PROSPECTORE LIMITED
ACN: 619 426 952
ABN: 64 619 426 952(External Link)
Registration date: 31/05/2017
Next review date: 31/05/2021
Status: Registered
Type: Australian Public Company, Limited By Shares
Locality of registered office: BRISBANE CITY QLD 4000
Regulator: Australian Securities & Investments Commission
So i'm assuming Ian Wallace will elect himself as director of Xtract?