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Kakuyu project with 60% interest to XTR
I've promised myself that I really shouldn't get too excited with these announcements after Kalengwa. Having said that I suppose I should wait and see if it delivers anything.
Don't care......look over here another project........forget bushranger blah blah blah
A reasonably well structured deal, and as promised not to heavy up front capital loaded and production ready. Small scale, let’s hope it’s turns good profit.
The company did say news on JV’s would be before end of year, so a pat on the back for the team and Colin.
Come on lucky don’t be so fickle ;-)
If we have money to spend on Projects and building small scale mines.....why are the team taking shares in instead of wages?.....
It's another form of dilution and also give thier pals for votes to control the company.
Maybe they didn't like of close the last vote was.
Looks like a world class T1 asset to me......
That type of RNS would have seen the sp move up in previous years. Many getting excited about the potential.
Not now.
I think the market is now numb to anything other than results from CB.
I noticed this:
"with the intention of building cash flow over the near-term "
same thing said about Kalengwa and Eureka. The good news is we will have FB income so no raises to pay for this and worst case is it may only waste about a months of FB income.
Never know, this one may even produce some income! Lets see.
>>Wasting our money on impulsive purchases.?
Either a deramp or the most uninformed or naive statement.
These acquisitions are important for future cash flow into the company to secure the needed sustained growth of the production side of the business in line with its growth strategy. They will be cheap to pick up at this time of economic turmoil as these small operations will find it so difficult to go solo and secure the funding to get these projects cash positive. Xtract are very ideally placed. They are of no extra burden to xtract as a project manager will be appointed.
https://audioboom.com/posts/8215262-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr
Good to hear we are looking to expand FB and build on what we have.
Apologies investing 100 in that case, although I must question your timing then after the recent rerate. Bit touchy that’s all.
Certainly no offence intended.
Podcast•
More news from down under to follow, and hopes to speak again before Christmas??
Fairbride plant is ramping up with ongoing plans for increasing the mineral reserve and sulphide plant potential.
2-3 years certain cash flow minimum from Kakuyu with good potential to extend.
"Looks like a world class T1 asset to me......"
Wonder where we've heard that before? Hoping this isn't another Colin Bird deflection
I'm getting old and deaf but I didn't hear CB say that this time. Think that was a sarcastic joke by G 600.
Thanks for posting Andrew and good interview CB.. I'm reasonanbly excited by this and very excited by Fair Bride and think the current s/p is joke low now ..
(The Market Cap here is currently only approx 15m Gbp... And I will be putting my money where my mouth is by increment from soon enough on forward..)
PS: Lets not forget that Bushranger is too big a beast to fit with the companies existing stated strategy.. so CB needs to examine all options comprehensively before committing too much more to further Bushranger drilling imho..that said, 2 or 3 million USD more for an Ascot focused further drilling exercise would be fine by me still though
NicetoMichu: as somebody else said "Ascot may well be the daddy of the local system".
indeed Cygnus.. and here's very much hoping it is .. but it may not be either.. so 2 or 3 million USD more for an Ascot focused further drilling exercise would indeed be fine by me... but maybe no more spend on Bushranger exploration after that full stop