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I'm expecting poc to be $12K + in 2 years and by then interest rates will be lower than now
However, the sale value will be nothing like CB implied and will take a lot longer.
Https://www.mining.com/web/miners-seek-partners-for-copper-assets-as-ma-heats-up/
A good point and made on the mining.com website today.
Agree with a lot of the posts!
My concern with talk of higher copper price is, you have to also consider the cost of capex, opex and inflation. Its all well and good saying that at $10,000 copper price, BR puts out great profit (Colins words at AGM) but at what price of extraction have the calculations been made.
Once we get to a sustained copper price of $10,000, that the majors accept as a base to evaluate a project....what will be the opex and capex, and said time!
$10,000 copper may not mean the project is sustainable at future capex and opex cost when $10k copper is considered the norm.
This is my main concern and until the official reports have been made public, we can not make an informed investment decision.
"Just wish you would ‘more’ concentrate your ‘valuable’ input in a positive way."
I think being honest and balanced is a valuable input. Much better than continuously taking a positive spin on everything or a negative spin on everything.
But I appreciate that approach may not fit with many agendas here :)
I`m just hoping he does something to turn this around and never feeds people so much bull ever again, because I`m sure some here will have major losses, which really comes down to the terms he spouted and nothing else, for that reason alone he should hang his head in shame. GLA
A good post A4444.
I've been saying the same for a long time but I'm afraid that's not really allowed on here.
Even when using evidence such as direct CB quotes you run the risk of being accused of not being "real", a "non holder", a "whiner" a "basher" etc.
It's only when these quotes are brought in line with what actually has happened ( the truth) that we realise how shocking the misdirection and misinformation caused a lot of us to put substantial amounts into this share and consequently lose many thousands (on paper in my case) I haven't sold a share.
The reason I haven't sold is this, I still believe I will get my money back as long as CB carries on rinsing and repeating. We are at the rinsed (and so many of us have been) stage but if CB is true to form he will soon have a new project to rave about and we will get some kind of a repeat.
And of course, I do think the copper value will rise eventually and bring BR into a viable situation.
If I didn't believe all that I wouldn't still be here and there is still potential for buyers in this range to do very well.
I'm hoping for my money back and a drink for my time.
We''ll just have to wait and see.
Not disputing what cb has said read my post again I’m talking about the geologist management team on the ground. Particularly Jeremy Reid through his long running association with BR. Very doubtful the chairman has any real operational input.
Just wish you would ‘more’ concentrate your ‘valuable’ input in a positive way.
" it doesn’t mean to say that BR hasn’t lived up, more in line to management realistic expectations"
I don't know what you mean by "realistic management expectations" or how you define them as the only expectations anyone can go by is what the management say imho.
Such as:,
We know we have the grades - not worried about the grades
If they offered me 10p I'll tell them to keep it
Tier 1 project
We were biting our nails re the 2mt but now we've discovered ascot there's' no need to do that
This wont be a death by a thousand lashes (re sale)
etc
if all the above were not realistic / honest, CB should not have said them
For the record I have not written off BR as I think it will be monetised when POC much higher but nothing like the value CB previously said or his time scales
AIMHO
He certainly has not help my cause
>>It did change after the real situation became apparent.
Hey Andrew just banter on my part in that post. In response to the above part of your reply, can assume is in relation to BR missed targets and timelines he gave.
I am of the firm opinion that the pathway that the project has actually taken, along with the updated RC JORC where the lower peripheral grades have been added to make up the bulk tonnage, are ultimately more within the project ‘managements’ expectations when you consider what they would have known from all the available early AA data and the outcome and recommendations from the ‘preliminary’ conceptual study for phase 2, particularly where toward resource optimisation was concerned and the forecast of requiring $4/lbCu
Yes, there is always going to be some disappointment from hopeful expectation of grades. But the single most significant factor that contributes the most to the viability of a project has, and always will be the future value of copper.
What I’m getting at is that, although CB has not been completely honest ‘previously’, it doesn’t mean to say that BR hasn’t lived up, more in line to management realistic expectations. I know many have written it down off already and shouldn’t.
Peddling a porphyry project on a UK indices was always going to be difficult knowing how long and how much money is required. He would never have got away with it on ASX.
The downturn in global economy hasn’t helped his cause.
I had a pretty strong view that we'd have full/detailed q2 Manica figures by mid Oct.. unless we get them tomorrow then we won't have, alas.. (frustratingly/disappointingly/halfbakedly/a little concerningly .. etc.. )
Generally speaking, the management team of Xtract Resources needs to do a better job in sundry different ways imho.... (no sh*t sherlock ! )
20th July RNS, nowt since... Zzzzzzzzz
HZ
I have not been more critical of CB recently. Critical yes but not more so then usual. My view has been very consistent re CB over last 12 months . It did change after the real situation became apparent.
I would much rather the SP went up from these levels than went below 1p !
My bet is it is more likely to be higher in a few months than lower - hence the small top up.
Would be better to use some of the Manica profits and buy back shares ?. Unfortunately at the AGM he went the other way and spoke of issuing more shares.
CB to buy another £50K worth would do the business
Given a few 1k buys can move this s/p up somewhat decently from these ridiculously low levels .. I wonder what nett buying - there will always be a little selling into any rally - it would take to get this back to 1.5 p to 2p range ? ..
My guess is decently less than 50 k gbp nett buying would do that.
(I've added 5k ish gbp here in fairly recent times.. and I'm looking forward to even 10 fellow holders doing similar soon ! )
>>i also had a similar top up today. i will do so again if ask falls below 1p
was wondering why you had been more vociferous in ****ging cb off recently andrew.
silly me, and i thought you were just chasing likes 😉
LOL yes.. a full £1K buy... I need my AV down, and this is the intention at this fabulously low price with such a high future potential for a X 7 bagger :)
2 mins before fosters post a £1K buy went in.
I suspect Fosters post could have been the result of his £1K buy??? :)
I also had a similar top up today. I will do so again if ASK falls below 1p
MMs would take 1.6M shares today so they seem happy to keep taking our shares. That has not happened for a long time..
Do you have leaky boot news Foster or was that a lucky punt comment?
Interesting comment.
I'll take that as a compliment
I think you've been pushed to unbelievable levels already
Wanna push me to next level❓
That actually made me laugh out loud Cruella
Like COPL
NTM❓