Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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I have woken up from the dream of 20p.... TITK would not be holding the SP at 3p if that dream was alive IMHO. 10p is my new real world target but accept that even that may be unachievable if Colin has in fact been deliberately deceptive.
Arguably the BR project is much higher profile than historic projects/deals that have failed to deliver. Surely if the agenda here was to ramp this very hard with no likelihood of delivering shareholder value, then that would be Colin's reputation trashed? Maybe he sees something like AFP to be his main bet such that XTR is not as important to him as it is to XTR shareholders? He only needs one from his stable to hit the jackpot which could minimise disappointments elsewhere.
Does he think like this ? Possibly with smaller projects/deals... but I hope that BR is too high a profile for that to be the case.
I'm of the view that even if the buy-out is significantly less than CB has implied ie "If they offered me 10p I'll tell them that they can stick it" the buy-out will be significantly higher than current sp.
An 8p to 10p buy-out would mean CB has been deliberately deceptive (IMHO) with his previous comments and forward guidance, but shareholders would still have made money. Some LTHs would have made a lot of money at that buy-out price :)
My gut feeling has always been this will do well, but nothing like as well as CB has implied. I'm still of that view.
btw, CB is 79 on Friday. What a nice way to celebrate his birthday with a cracking Friday RNS :)
I suspect the way things are going here, we may have to wait for his 80th before we get that cracking RNS.
I'm with you on that Fosters. Sell the asset and move on. I would like to see some indication that AA are in fact interested. The popular standpoint on this seems to be that it is clearly a 'no brainer' given the urgent need for new copper resources to develop and exploit and the 'obvious' impending rise in the price of copper. Both of these need confirmation in the real world.
All very interesting, not sure they would be down playing results to get the AA offer off the table?
My personal view is sell it to AA ASAP take all the uncertainty out of the discussion, for the right "market" price of course
Yes Fosters, a trebling of the share price would be lovely. What could help, or hinder this? ...
Q3 results from Manica showing ramp up of revenues, followed by confirmation of operation running at full production. Downside is disappointing Q3 figures and delays to implementing full production. It is a common opinion that the current SP is entirely accounted for by this at the moment with no consideration being given to Bushranger.
As for Bushranger, what might move the price? Will we get publication of MREs/conceptual pit study for Racecourse or Ascot before or after we hear if Anglo American is going to pass on their option or make an offer. If they pass on the buyback deal, thereby allowing XTR to take it to the open market (possibly the preferred outcome) will this be because the MRE outcome is disappointing, and will we be told phase 3 drilling will be on the cards to make it all a bit more attractive? Might XTR downplay the MRE and conceptual pit economics in order to get AA out of the loop?
There are so many uncertainties (current gold income, near future of Copper prices, etc) and strategy directions that could be being considered no wonder we (holders) are where we are.
I'm impatient for further news and at the same time nervous of news, in equal measure.
Personal Grudge or not, just ignore, however I dont like being at this 3p level, its slightly daunting TBH.
Back to five with a move to 10p would inspire a lot more confidence
This is hilarious, I just looked through Kwackers' previous posts and every single one is defamatory against CB. This guy really has a personal grudge.
kwadoku has gone by many names before but always betrays who he is with his cut-and-paste postings.
He holds a grudge against Colin (just in case that wasn't obvious!) and just wants to bring him and his companies down. He does not care about investors, just getting revenge for whatever he blames Colin for.
kwadoku - You need to get some help... this is not healthy.
It's you that should be reported Kwakers.
You'll be telling us next the labs are in on the game with falsification of the resource results?
The assets are proven.
There are gold revenues already, which are improving, so self financing soon. There will be significant copper revenues or a sale based on the asset value and improving copper demand.
Horses aren't my thing but good luck to CB if that's what he chooses to do with his hard earned.
What do you spend your Short money on? It's pretty clear you want the stock down, or are bitter for some other reason. Chill out.
The reality is- this wont be going anywhere. CB ramped this up very hard but has run out of rope to pull now.
Have a look at each of his companies and each project within each company- and you will see that most turn into blind ends. But on the journey- he still drains a salary every year. Ramp, change projects--->rinse and repeat
-----------------
Colin Bird’s AIM record, as of November 22:
Time he became CEO of BZT- SP 0.5….now 0.06
Time he became CEO of XTR- SP 10...now 3.1
Time he became CEO of Galileo 7.38...now 1.4
£XXXXXXX paid out in salaries to Colin Bird from these companies during the times
T
But this is what Colin Bird does, this is what he has done since he has been on AIM.
Most projects never reach the finish line, then he shifts direction, delays after delays after delays. There is only one certainty with Colin Bird- every year he he is drawing a salary from each of his so called 'businesses', and lives in UAE and has an interest in expensive racehorses. Meanwhile the PI loses money on the dilution caused by placings that pay for expat lifestyle.
I hope you have been following the saga in Bezant- several people have emailed the AIM regulator and the FCA have a look on twitter- 'Share Prophets' and Tom Winnifrith profile- have emailed asking for him to be booted of AIM due to the irregularities and inconsistency between BZT RNS and Caerus' RNS.
I think his luck has finally run out.
Colin Bird’s AIM record, as of November 22:
Time he became CEO of BZT- SP 0.5….now 0.06
Time he became CEO of XTR- SP 10...now 3.1
Time he became CEO of Galileo 7.38...now 1.4
£XXXXXXX paid out in salaries to Colin Bird from these companies during the times
JS
I have a note on my calendar that CB said the model should be completed by end of October . So you are correct.
However, I gave that timeline little credibility as it was not in an RNS.
However, he also stated in the half yearly report RNS:
"The company will now utilise all the Phase Two drilling data to update the Racecourse prospect mineral resource and subsequently will update the open pit mining study for the Racecourse prospect which was previously completed in April 2021. The updated mining study is planned for completion before the end of 2022."
AND
"Drilling and assay data from the Ascot prospect will be used to complete a maiden mineral resource estimation for the Ascot prospect, which will be finalised prior to the end of 2022."
I will consider this a realistic, credible and believable timescale and if this is not met then I would consider it yet another missed timeline by CB.
Wasn't it reported from AGM that he said resource update in October? So yet another missed time frame.
248k sell was mine, now happy with what I’ve got left to sit on my hands until Jan and see what the next move is.
"I would assume its a woman, not a man."
Perhaps it's someone of an indeterminate gender. Unable to decide.
Buying one minute and selling the next.
You of course mean £7.5k seller. And completely miss the £9.5k and £4.5k buyer.
Be they male or female, trades will be had. The more in the blue the better. :-)
Mr??
I would assume its a woman, not a man.
Only a woman could be so annoying :)
Is anyone itching to declare that Mr £250k seller is back?
Howezap, thank you for this detailed response and I see the logic behind a declaration to mine as opposed to a simple declaration of tonnage.
If CB is correct then the current SP is incredibly under-valued. We now are in the hands of his timescales, this is where we have the problem. On another note, talking about full production and Africa, I wonder when we will get the Q3 results which should show a satisfactory increase in production as the plant moved towards full operation.
"Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY) reported Thursday that Q3 production was broadly flat from a year ago, as lower copper output offset a ramp up in coal operations and a strong performance at its De Beers diamond unit.
Anglo (OTCQX:AAUKF) (OTCQX:NGLOY) said Q3 copper production fell 6% Y/Y to 147K metric tons, citing planned lower grades at its operations in Chile and unfavorable ore characteristics at Los Bronces, partly offset by first production of copper from the Quellaveco project in Peru."
Eastern
>>>If delivered, what is the likelihood of them showing either 2mt or a viable mine ?
This is another example of comparing the ‘potential’ reality of where the resource now sits at RC ( estimated 500mt @ +\- 0.3CuEq) to what the target was to add to the already positive result of the original financial model.
Particularly what Jeremy Reid explains at the beginning to understand this and to realise the potential of what reaching this objective means now for the updated financial model in view of his comments on how the original pit model of the 71mt JORC resource would already pay for infrastructure and plant etc.
https://youtu.be/AEIwR_0S7SE
Hi eastern investor, where timescales are concerned, they are too subjective to make an informed comment to be fair at this time.
What we do know though, from what Colin has said, is that hey have had a RC resource model since about April / may that was being updated with results as they came in so with the very last hole into RC, hole 54 with assays reported on 27 July. Conceptual study to follow, that is outsourced including new pit design/plan. But potentially could be just an updated conceptual model, but nether the less, still independently compiled. So it would be fair to say RC and its supporting conceptual model has already been completed and by now, Ascot MRE too. There is a very good chance the process has been started already to determine AA’s intent.
The perception that the decision to mine is the lesser of the two options to trigger the buy back is wrong IMO. To have gained a greater geological understanding of the whole deposit outweighs just a specific contained copper value.
On top of that , there is far greater value in proving that a resource of ‘X’ will be potentially, economically recoverable ‘toward’ its viability as a mine, than alternatively showing a resource of ‘X’ with its contained copper/gold equivalent value.
1. What is the likelihood of the resource estimates being announced before the New Year or even shortly afterwards given the repeated failures to meet timescales that CB is known for ?
2. If delivered, what is the likelihood of them showing either 2mt or a viable mine ? The mood music has well and truly shifted from their being 2mt to now a 'decision to mine. '
I believed CB, simple as that, and I do hope not to be let down here.