Xtract Share Chat (XTR)

Beginning to feel very Solgold but without the gold and not much copper either.

Don’t think anything has changed that makes it depressing, priority is to maximise the return whether that be selling before the next big push is needed financially or through equity funding to complete a PFS. Have a couple of years to complete the work they are already into and possibly the 3rd drill prog that has been in planning before any firm decisions need to be made.

It could still be sold at any point up to then, but they won’t stop doing what they are doing to just put it up for sale, as they still need to complete the optimisation that should drive down costs, improve free cash flow margin and increase NPV.

Mr Zap fairly likely a purveyor of Bush reality .. depressing as that indeed is .. but Mr Bird is a multi trick pony .. albeit they are exceedingly slow tricks and a few of them only are Xtract resources tricks ..

Punked by the Bird? .. short /medium term, yes .. long term, still undecided .. So ‘eres ‘oping

Oh dear what a depressing post howzap.

We've gone from selling to the highest bidder after tying a bow around it to the age old never never process of many different studies that are really time wasters to the PFS/DFS treadmill that swallows money and gets nowhere over years .

JV's with unfavourable terms, placings, loans, another round of placings etc etc.

PI's get devalued as the gravy train chugs expensively into the tunnel of unknown outcomes and all the while CB draws his £2.5k a week for making up different titles for very similar processes for looking at rock samples ( not him exactly, someone else will be doing the actual work).

WE NEED A CEO NOW !!!!!!!!!

Don’t actually think will see a ‘next’ conceptual study, have already seen a scoping level and pit optimisation study. Going by what was said I would hazard a guess that the hope is to go straight into pre feasibility next when they can produce a set of improved on economic mining scenarios. Not saying the company can fund the pfs on its own, but the decision will need to be made to be able to then attract further investment wether by means of selling on, or continue through equity funding or its JV’d.

Plus, there is potentially more high grade tonnage that can be added to the early mine plan to the NW ‘if required’ to get the economics where they need to be.

One day we had gold the next we didn’t

I suppose the next conceptual study ,will enlighten us all of what only a few can actually explain what it means.

OSV it’s not the price of copper you need ……it’s tonage . Simple economics. If the tonnage is there the price of copper is secondary factor. Otherwise what do you do if mine price drops ……stop

Mining.

“Bush Ranger could be viable at $10,000usd per ton and above we are told.”

Don’t forget the present studies are intended to increase the economic viability of the lower grade with the main objective of re-assessing that breakeven price.

Spot on Prickly - IMO those who still believe BR will be sold are living in fantasy land. No one is going to invest the huge sums required to build a plant when the breakeven is $10k.

CB used to say that the SP of a junior copper miner was akin to a copper call option. Not anymore sadly. Bush Ranger could be viable at $10,000usd per ton and above we are told. So we are now at break even level and no major in their right mind would get involved in a project to break even. i think we can safely discount BR for now which leaves the African ventures which are being funded by our gold mine sale. We were told at the AGM that the copper ventures held out much better prospects than our 23% of Manica. The current SP is despairingly low The race is on to see if if one of our licenses can be profitably developed before the sales proceeds run out.

OSV why don’t you lay the 2 year XTR SP chart on top of the 2 year copper price chart and then come back and tell us that they are correlated!

Drilling on Bushranger and testing on the go.

Lots happening with all tests just have to wait be patient.

All will be revealed later

And the effect on the SP here is ?

I wonder if the ramper on here ever bothered to notice that the value here needs to rise a 1000% to get back to where he was harping on about putting a bow around it etc ?

Thanks OSV. I've noticed the (significant) downward pressure on the value on my XTR shares. Couldn't really care less about the price of a commodity we seem unable to dig up or find in any useful quantity. You might as well be yapping on about the price of mushrooms per Kilo, the progress you've made in the 4 and a half years since acquiring Bushranger. (Still not provided a better version of the Slides you inherited back in April 2020).

Talking of rising prices, what's the value of that gold mine you sold?

I wonder if the bashers have even bothered to notice the upwards pressure on price of copper. Thankfully decisions regarding value creation are made by those understanding such things and not those with a basher mindset.

Flipper good read. Only if we had copper?

Https://www.mining.com/bhp-forecasts-annual-copper-demand-growth-of-1-million-tonnes-through-2035/

Only a somewhat similar story to mine Andrew: 2 bottles of Vodka and 6 Valium tablets a day led me to decide that betting on xtr.l would be a good idea...

I've since switched to wine only.. but am still in play here...:-)

Ben

Tbh I'd now accept 9.9p

Joe

You need to have more faith in CB.

When has he ever let us down before .............?

(I was a teetotaler before I "invested" in Xtr, I'm now on 2 bottles of vodka a day and six valium tablets :) )

If Carlsberg did Copper Exploration Companies, it would probably NOT be Xtract Resources :-)

On the Carlsberg again Andrew?

Imminently.

Or is it just being realised that this share has been over sold

Over the last year or so little news and little move Here and there.

Should be a 10p range very soon haha

This time though Andrew, he would in fact accept 10p. CB proving he can learn lessons. Nice little rise here. Still 70% underwater so needs to go some from here.

Come on Colin - get those drills in the ground!

I hope CB's not cut and pasting!

Every penny counts