The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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I second that Joeman.
I want news where news is due, and we are slowly ticking off what we expect.
But weirdly the very people that are bleating incessantly about Colin Bird having verbal diarrea and over promising seem to be complaining now that he hasn't dressed up the fairbride results enough.
In my mind the fairbride results speak for themselves and that is good news. And the Racecourse JORC was good news (the uninformed are those that cannot see a JORC for what it is and that there is a story that extends behind that).
NtM...... it not being fanfared in the manner you describe might just mean that Colin doesn't expect the need to raise funds will happen ..... ever again..... which would be good news in itself.
Agree with that Andrew...
(And such a potential news vacuum, I had expected, would naturally have been filled with some publicity / bullishness on Fairbride 'ard from CB... but yesterday's RNS - annoyingly - told me that does indeed seems unlikely now..
Re Fairbride, it said in yesterdays RNS: ''The Company remains very confident for a positive 2023 as the operation matures and stabilises.''
Well go out and publicise it in this quiet news period then, you D+ck(y) Bird ?!
Although, going by his 'up front marketing' track record, CB not bigging this up ahead of time might actually mean it's going to be a nailed on roaring success, in fairness)
Andrew - looking on the bright side, if the SP stays around 2p, until Q2, I’ll be able to crystalise a large CGT loss by bed and isa’ing my XTR shares! And then my massive gains in tax year 2023/24 will be tax free. Double bonus!
"I'm hoping for a strong POC year this year, especially from q2 onward"
I'm also thinking Q2 onwards will be when we see some positive movement with the sp. We have been told that the economic model should be out by early this year - so in reality I think that will mean some time in Q2 . We wont be getting any FB updates (from Xtract anyway) until April at earliest - if you assume the 6 monthly reporting starts from 1 Oct (Q4). The Alluvial income in Q4 should be known before April but I doubt this will move the sp much either way, up or down.
So I think we will have very little or no significant news for a few months and the sp will be below 2p for some time.
I guess if you believe in the long term prospects here then that will be a good opportunity to keep adding ?
After those of us who feel like a good moan here - and we deserve it, frankly - have had their airing, then looking forward constructively from here is the best answer.
And Lucky has below given some thoughts on what might be done to help make sentiment better here, which is usefully constructive.
And my starter in that sense was aired yesterday.. but again : I believe a fundmaental issue is that CB is massively over stretched across all his interests and so - as soon as budgets readily permit - needs appoint management level resource (s) to help him, as he sees generally fit.
And as I've had my moan yesterday - I've waited a long time for Fairbride 'ard and it will make a very big difference to xtr from this year forward and the lack of publicity he continues to give this even now annoys me as much as anything Bushranger related has so far, which btw I actually think _ Bushranger - versus up front investment and additional spend so far is progressing decently and will work out well in the end if POC appreciates semi decently from here and he has an in line with Bushranger overall drilling so far decent drill campaign at Ascot in half 2 2023 on top.
(Which reminds me .. and allowing myself one last moan before I stop moaning, for a while at least: CB was way too bullish on his view on PoC for 22.... but applying Andrew's logic that adding six months - minimum - to CB's offered timelines gets you to a far more pleasing outcome.. I'm hoping for a strong POC year this year, especially from q2 onward)
The financial model being profitable at $4 LB would be a nice kicker for the sp.
Colin buying shares on the open market before this news would be good.
Maybe a podcast with Jeremy read about the new jorc and how most of the new material is just the waste converted to ore, because if this is the case it puts to bed Steve's theory that we have doubled the rock and only increased the copper 50%.
We have been told by ZM to focus on the now... well the now is represented by the current SP. Cant get anymore now than that, so lets go and take a look at the SP.......... ooooopsy.
It's somewhere to vent for shareholders. Agree, that person just has a vendetta and is either a trader or ex shareholder. It is also nice to know colin reads the board and maybe it too will be sick of the moaning and deliver something....or stop over promising.
1.3mt of copper is great news but it wasn't because we thought we had 2mt in the bag and a sale last year making 20p minimum, that is why the share price is where it is now.
ZM... The complaint is not that Colin has not been able to say much !!!
Keep up lol
I would question (as I have previously) what is achieved by continuous and repeated moaning. No-one likes kwakadoo posting his list of colin bird company share prices again and again. Yet some posters here see fit to repeatedly state their view of Colin Bird over and over again as if other readers are incapable of retaining information on first (or even 31st) reading.
We are all aware of the environment we are invested in by now. Maybe try to work with it? Posting your dissatisfaction repeatedly is not going to change anything, that is for sure.
The whinging is likely not because we have to wait 6 months like other companies....its likely the normal quarterly statements have changed and this brings suspicion, as all trust has now gone.
Like someone else said, it's likely not to look more professional but to give themselves longer to deliver what they keep promising.
People keep moaning about the moaners....Well maybe if something gets delivered!!!! They will stop!!! What's really annoying is the defenders, defending colin and the company when nothing gets delivered as promised or on time.
Colin is the only person who can stop the moaning!
Mmm, I wonder what that could possibly be ?
I'm flummoxed.........
Copper price moving upwards nicely but SP not responding to that so something else is keeping us down.
"As for what CEO says I've been in enough companies to know they can't really say much and its bad practice to put it out all the time using favorable media".
Too true Billy. Its a well-known complaint in the hospitality industry that almost every punter thinks they would make a better job of running a pub. Colin says he reads the boards, but the majority of what is posted by the armchair and back of envelope 'explorators' surely must drive him up the wall.
"However when you have something you have it. Which is the case here"
Spot on again. Yet no-one seems to be welcoming this latest item of clarity. Lets just whinge about the reasonable statement that financials will be issued bi-annually (as is required of AIM companies).
Andrew44
I note the frustration in your posts. We all would like to get drilling/digging etc asap. As for what CEO says I've been in enough companies to know they can't really say much and its bad practice to put it out all the time using favorable media.
However when you have something you have it. Which is the case here, its now the time for CEO to turn things into reality. Some CEO's only can get you on the 1st few runs of the ladder as thats their expertise are limited to front of house, fundraising etc. What would be nice if CEO hands over everything to a team who can handle it and he can watch from afar whilst working on the next deal.
I'm sure it will come good, just read the last RNS we are selling the crap 1st before we get to the good stuff.
'I just cant believe anything that Colin says anymore.''
As I've said before, its not a case of you can't believe anything CB says - but you can't believe everything he says. The problem with that is you don't know which parts to believe or what he has just said is correct or not !
He must have really believed that this was going to do well as he bought £185K of shares in the open market at an SP way above current price.
We have FB up and running and a massive copper asset which has to be all down to CB. But his timescales and forward guidance and expectation management have been shocking.
I said years ago before Bushranger - add at least 6 months to his time scales and half is output predictions and you will be nearer than his forward guidance.
But that doesnt ,mean he wont eventually delivery value sp appreciation - just not in the pathway or timescale he has implied
AIMHO
I think a few including the market will have to digest RNS 1st as it is a hard read and not obvious that it’s just a start.
Couldn't help myself, bought some more today.
All l want is an rns that makes the share price go up and l mean UP!!
Hi ZM
I’m puzzled about what the welcome news was today on fairbride? The alluvials and small hard rock is ticking along, explorator share seems to have decreased Q on Q (in % terms). Fairbride production for the quarter seems ok but who knows how much if any goes to XTR and weirdly no mention of how things progressed in Q4 or at least up to end of November etc.
Cheers
James
Give it a rest. Going over and over the same old dissatisfactions won't make them go away.
Far more interesting is to focus on where we are, what we expect and, maybe, what we hope for. Reset your expectations based on 'now'. You will be happier.
Welcome news regarding Fairbride today (although of course some will find a way to whinge about that too). XTR is making a profit. And we have an area of ground in Australia we know there is a large amount of copper buried in. And PoC is on the up (as is the global demand, with no ceiling in site).
Learn from Harry ... everyone tires of the incessant whingeing once it has been done to death already.
Seeing as Mr Bird looks at these boards i hope he watches that you tube clip , !!, no denying what he told the room that night , no wonder there is no confidence in XTR ,
Must have been talking about another racecourse that night and another Ascot where the geophysics is way better.
A reminder:
https://youtu.be/1oWPcWmRvUo