Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Xtr at 1 hr :13 mins
Apologies to Colin
Apparently everything is doing fine and all is looking great
Imho the good news was that he is going to continue to exploit FB value by building a flotation plant for the sulphides and transition ore. Orders should be in for that by end of the year....apparently.
So that should be built by 2026 (my time scale) if previous lead times are anything to go by !
Bad news is he's still looking at other small acquisitions - but nothing imminent.
Still no acceptance of any responsibility why the sp is so low. At least he didnt blame it on the war this time. That's the same war the saw the sp hit 7p 2 months after the war had started :)
Apologies for what?
He's talking about building a new plant and going to the bank for 5 million.....at these intrest rates?
He said hoping for good news at BR.
Looking to raise for new projects etc etc etc
Heard it all before, time and time again.
Asking for more patience!! Fck off!
It seems like he really is determined to dilute out all the long term shareholders.
Anyone who is stil in this pos after the euphoria of BR in 2021, 2022, and the warnings about African revenues never forthcoming, needs their heads examining.
The party's over.
Lucky
Obviously sarcasm may not translate well in a post !
I thought my ...
"Apparently everything is doing fine and all is looking great" was the give away :)
The plant upgrades will need to be in place sooner I would have thought to coincide with the in pit oxides being depleted and smooth transition to mine the transitional ore thereafter.
This from the DFS states , “the ‘defined’ oxide material will be depleted within two years and fresh material will gradually be introduced until year four, thereafter only fresh material will be processed.
Fresh material would include oxides found from further exploratory work.
So appears we are going to build the plant at about £/$5m ‘borrowed’. To answer the question earlier! Fantastic news if confirmed.
£450kpm £6mpa mentioned once again.
Kakuyu is as I thought, not jumping straight in and taking the diligent approach.
As confident as ever ore sorting will have significant economic advantages. Even bold enough to imply an IRR of 25% which is desirable and competitive.
I do hope the doubters can achieve their target price to bail out early. It’s getting f****** tedious now listening to you all trash your investments.
"I do hope the doubters can achieve their target price to bail out early. It’s getting f****** tedious now listening to you all trash your investments."
Its beyond tedious reading your continual bizarre support for the only person who has trashed our investments.
"Fantastic news if confirmed"
ffs
His figures were in $ not £
$450 to $550 a month
The 5M was in $ not £
I agree that a loan for $5m to upgrade the plant is affordable and no need for dilution
5m over 5 years at 15% rate is 116K a month so affordable against $500K a month income, Could be $100K a month with lower rates. No need for dilution to afford that assuming we meet the $450K a month FB income.
That's also assuming anyone can believe anything he says :)
My support is based on my own research and understanding of the projects and what the company are required to do to achieve the goals that are set. I am happy to have accumulated and still am.
If my investment fails I will not be blaming anyone but myself unlike some!
Howezap...
What is/was your understanding of the Kalengwa project ?
What is/was your understanding of the Eureka project ?
What is/was your understanding of the Tier1 label given by Colin to the BR project ?
What is/was your understanding of the "tie a bow on it and sell it quick" comment given by Colin to the BR project ?
Knowing what we know now damn right it will be your fault !
Previously done Kalengwa and eureka to death lw stop dwelling on the past and try concentrating on the way forward.
T1 is a just a general term ffs has different connotation’s in what makes it considered a T1
So you have based your disappointment partly on a throw away comment from the ceo which is to be fair what they are still planning to do if I’m not corrected.
Howezap... your willingness to brush Kalengwa and Eureka under the carpet is precisely what encourages Colin to waste shareholder funds.
Btw... What did you make of the 400k that went walkies regarding the MozGold fiasco ?
How on earth can you make a considered opinion on the future of XTR if you are so willing to ignore the past ???
"T1 is a just a general term ffs has different connotation’s in what makes it considered a T1"
So what is your understanding of why Colin repeatedly used that term in his interviews ?
Sorry Andrew, no it didn't. But your history of being a well balanced poster and very diplomatic made me belive your falling for his BS again.
I actually started thinking you are Colin or employed by him.
I definitely think howzap is receiving some of our company funds lol knowonder thier happy xtract and Colin keep going. And when you mention shareholder revolt......."now,now let's not get to hasty" ......really?
"I actually started thinking you are Colin or employed by him."
After my many recent calls saying he must go, and constant criticism of him, I assume that's your attempt at being sarcastic as well :)
Maybe your just good at poker?
Can someone please ask Colin at the AGM:
"would he tell AA to shove it if they offered 10p tomorrow?"
"does he think his lack of reliability and tendency to exaggerate in terms of forward guidance is at all responsible for the market not believing future success at xtract and therefore a low share price?"
"What timescales does he have for achieving shareholder value?"
" Does he believe his strategy of acquiring small scale projects in Africa will provide shareholder value in the short to mid term, and if so how?"
"How many hours per week does he work on xtract?"
"....Can he justify a salary increase of 30% in the previous year, given the performance of the company's share price?"
"Following on from previous question, can he provide any metric which shows he has proved successful in his role over the past year? How would he rate his performance out of 10?"
Am trying to think of a list of tricky questions that might cause Colin to pause and reflect and ultimately pull his socks up, start to acknowledge performance is sub par and he owes us honesty and transparency about the short to mid term.
I'm honestly fed up. I am now of the opinion he loves this gravy train he is on and doesn't feel the need to bring shareholder value as he continues on 124k per year with just one of his many companies. Why would he need to retire!?
Will add to the list above as and when I think of others.
Someone should suggest he does a Steve Jobs. Salary of a $1 a year, benefit in options? Means he focuses on adding value rather bulling!
"We're trusted"
ROTFFL !
My Ar se !
another question for agm
does *****on hills or jeremy reid have any involvement either directly or indirectly with xtract now
"I've lost money "
Double ROTFFL !!!
Snake Oil vendor !
Tomorrow SP = flatline if we are lucky.
I think I will go to the AGM.
SP could take a hammering tomorrow.
A sell off, based, on what? There are obviously a few disgruntled LTH on this board, maybe they should sell up and go elsewhere, not saying I am thrilled with where we find the SP, look at what the expendature was for 2022, see what will be repeated this year, and consider probability that we really are generating income of close to half the current MCap going forward. I tend to agree with HZ and will be adding at these levels as funds permit. History is history, cash flow from Manica is finally flowing...