Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Slight rise in shareprice but will it stick
yea, it's not bad and no expectations set this time!
0.19mt was not far off my 0.2mt est.
That is a significant increase IMHO
AND a timeline was met :)
1.3mt now. When will the market wake up to what we have ??
"The combined resource of 225Mt @ 0.33% copper equivalent mineralisation in the shallower parts of Racecourse and Ascot deposits is comparable with many operating deposits around the world, providing the basis for real impetus for the recently commissioned Open Pit Mining Study. These resources could potentially be scheduled for production during the important early years of production, supporting a 9-year mining operation at a projected rate of 25Mtpa"
Pretty much in line with Iceberg's comments...
Now that the maiden Ascot Prospect Mineral Resource has been estimated and the Racecourse Prospect Mineral Resource updated with all the Phase 2 drilling data, Xtract has again contracted independent consultants Optimal Mining Solutions (Pty) Ltd to update the Bushranger Project open pit mining study. The update to the open pit mining study will examine the economics of a 25Mtpa open pit mining operation extracting both the Ascot and Racecourse Mineral Resources. Xtract estimates that the update to the open pit mining study will be completed early in 2023. Following the updating of the open pit mining study, Xtract will determine the optimum way to further advance the Bushranger Project and advise shareholders and the market early in 2023 of the Company's plans for the Project.
Colin Bird, Executive Chairman said: "A 17% increase in the total copper equivalent tonnes to 1.3Mt CuEq with the addition of Ascot is a significant increase in the Bushranger Mineral Resource, particularly when dealing with large tonnage, moderate grade deposits of this nature. The combined resource of 225Mt @ 0.33% copper equivalent mineralisation in the shallower parts of Racecourse and Ascot deposits is comparable with many operating deposits around the world, providing the basis for real impetus for the recently commissioned Open Pit Mining Study. These resources could potentially be scheduled for production during the important early years of production, supporting a 9-year mining operation at a projected rate of 25Mtpa. When we acquired the Project, we had a resource of approximately 300kt copper metal and we have now increased the resource to approximately 1.3Mt of copper equivalent metal. Racecourse remains open to further extension whilst Ascot remains open ended down-dip and to the south, which bodes well for further resource expansion."
Out.
Jezz
What's happened to change you mind then ?
I know what happened..
He wants to buy more @ cheap as chips
1.5p would be a steal so trying to influence the market, just like that Steve character.
Pinocchio you posted on the 7th Dec on this board:
>. Cheap as chips at this level- especially with hard rock Manica about to generate annual income of £5M. How many juniors have that sort of cashlflow locked-in for doing nothing !! ?<
What's happened to change you mind then ?
What a prat.
'Hoisted by your own Petard ' - line of the week! :)
pinocchio "Dreadful ignorance and analysis by real amateurs. I should know"
Hoisted by your own Petard !
>>>You will see. Believe me. Remember this day and date for your apology to come.
Give us a clue at least, anything can crop up for you to then say, ‘I told you so’ is it legal, is it corporate or is it fantasy?
Cygnus7, or in pinocchios case a black woodpecker event ! ;)
So in less than 2 weeks Pinocchio's view has gone from:
7 Dec
Anyone who hangs in there now or even invests from this point is going to get an Xmas gift. PoC going up, Manica coming on-stream and the Zambian Cu project being advanced.
This ascribes nowt to the Aussie porphyry which is clearly a nonsense. The impending global copper shortage means Racecourse and Ascot will be pay-dirt within a year -even if not now.
Cheap as chips at this level- especially with hard rock Manica about to generate annual income of £5M. How many juniors have that sort of cashlflow locked-in for doing nothing !! ?
to:
Today
You can speculate if you wish. It is really very sad. If you only knew CB and what will happen in 2023.
I guess we know why his user name is Pinnocchio.
Pinnocchio: sounds like you should get as far away as possible from this board. Don't want your street cred taking a hit.
Don't let the door hit you on the a!!e on the way out.
I personally like to see other posters sums, estimates and predictions but always try to appraise what those estimates are based on. I do these sums myself knowing that there are - as the Americans say, 'known unknowns'. My estimates of the value of RC took a hit when the actual size was revealed but I knew that data point was unknown. Now I can put that figure into my model and the end result is that more accurate. The next data point is the size of Ascot.
As long as you make the figures rough guides and not your master.
Yes, a black swan event can knock all of your plans out of the water but you have to base your decisions on something and it would be illogical to assume that there will always be a black swan event to stop reaching your target.
Here's hoping for news before Xmas.
>> I fail to see how all this predictions of future earning and riches are going to materialize……..
Hello Roggy to sincerely believe that you would have to be a conspiracy theorist believing that global warming is ‘made up’ and something that certain governments only ‘want’ you to believe.
The copper and battery metals story, particularly copper is central to global decarbonisation and reaching net zero. If you believe in electrification then you have ‘got’ to believe in copper. It comes with the near certainty that increasing unparalleled demand will outstrip supply sending copper prices soaring for many years. Starting in mid ‘23 with Glencore predicting there will be 50mt copper shortfall.
That is the backdrop that cannot be ignored. Hope you get a good return and soon!
Bulletin boards are a valuable source of information and ideas, although to be evaluated carefully as all sorts of people with different viewpoints, and indeed agendas, post on them. But imagine investing with no forum for discussion. No group of fellow shareholders to consult or listen to when the share price drops unexpectedly for no apparent reason. With no other discernable coverage or comment (certainly in XTR's case) we would all be alone to second guess our faltering investments in horrible solitude.
Roggy, would you really prefer the BBs were not available? I am grateful for the facility. I don't ever use the filter function, but if I find a line of discussion unhelpful I skip over it manually. The 'armchair experts' can over step the mark sometimes in my view, and I have commented about that myself previously, but they do it because they are interested and they put a great deal of thought into their evaluations, and I think bulletin boards would be of much less interest or relevance without that kind of interest.
One of the most sensible posts this board has seen for many a day.
I share your sentiments entirely.
Thank you Roggy
I am personally just waiting to get out of the quick sand I have been stuck for now several years. Can't wait to sell and move on but obviously i am not going to turn a paper loss into a real loss. Hopefully that will be happen soon as I am not a 4 years hold but a 74 years old pensioner trying to make a bit of extra mula to make ends meet.
I am am not as erudite as all the gun -ho posters that have clearly got post graduate degrees in geology etc etc.
I fail to see how all this predictions of future earning and riches are going to materialize as it's also clear that the only one who had all the facts and figures at fingertips is CB.An enormous amount of guessing goes on every day about what's going to happen but the truth is NOBODY knows and often I wonder is even CB knows.I find it insulting that newcomers think they have all the answers to Eldorado . I said my piece good evening to everyone.
ZM you cannot reason with some of our LTH’ers, It’s like trying to reason with a 4yr old. Once you start, you have lost.
Tongue in cheek of course LW ;-) but there will be a time that the next breed of investors buy in and currently invested close their positions and move on. Probably long overdue for many I’m sure.
It ‘must’ go without saying though, that not all projects wether currently on the books or new acquisitions will succeed. Of course it is a very high proportion of projects that do fail or simply have to be parked up for any number of reasons, wether geological or economical. But that shouldn’t be a reflection on Colin bird companies. I don’t think this has been the case for Eureka, it will be a big commitment to undertake a mining programme that will have the momentum and be efficient enough to turn profit to then undertake the exploration to extend pit and test the deep sulphides that could potentially be a major discovery.
It’s more likely Eureka has been mothballed until they can sell the ore when Cu prices increase and a big ‘maybe’ that the company are also in a stronger position financially and with the resources once there is a conclusion to BR.
ZM it seems jumps to several incorrect conclusions. He needs to grasp that everything that Colin says will happen may not actually happen. To label anyone who points this basic truth out as mere salary fodder unable to survive in the world without ZM's heroic entrepreneurs, is possibly the most rudest post I have had the misfortune of opening in my time as an XTR shareholder (well lets leave Spacemen out of it for now lol). If XTR shareholders eventually see a return maybe it can be said that expertise has been used for their benefit. So far that hasn't really happened has it, unless you only consider the few given the nod to forward sell on spikes at cash raise time as worthy of Colin's expertise. I remain a holder as I fully believe somewhere down the line a new spike will be "created" which I'm sure many LTHs will see as a gladly taken exit point. I will leave the glorious failed ventures to our heroic entrepreneur loving ZM.
Lets not fall out over words. A pipeline is by definition potential future business.
CB can't resist a worked out project that nobody wants.
You don't become Tom Hartley by buying scrappers from the local council estate I'm afraid.
Stick to the big deals that have a better chance of a payback.
Don't overstretch yourself with clutter when you could be putting a for sale sign on the Ferrari you have just polished £5k into.
Get BR sold first, then we can go looking for the next one to polish up.