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But then I am excited really because as soon as they drill any of these copper prospects, and subject to XTR hitting zillions of metres of super-high grade copper, I can use the rise in the share price to get the hell out of this share for good. Birdie is a waste of time as are all of his minnow largely African-based exploration companies.
18months or $500k whatever comes first if to fast track Art. Agree it’s not particularly exciting but is a good project with a good buy in deal.
On completion of the earn in period, or as such other time as Xtract has spent US$500,000, Xtract may then advise Cooperlemon of its intention to increase its interest in the Licence to 70% by agreeing to spend a further US$1,000,000
If the sales complete why’s it not factored into mcap
Yawn, yawn, yawn.........
'Xtract has an option period of 18 months to earn an initial 51% in the Licence provided Xtract spends US$500,000 in exploration over the period.'
18 months, blimey, what's the excitement?
No…. Why would xtr need to raise funds was my question.
Art have you even bothered to read the leading paragraph on the company website to just have the most primitive understanding of what it is an investor is buying into and more importantly why the company has this strategy?
No it’s not going to happen overnight
XTR MANICA SOLD FOR US$15M:
In my view, selling a gold project for US$15m is no mean feat especially in Momz. at this time. Barrick sold a Kenyan gold deposit of just a little over 1moz for $13m. So, a feather in C.B's cap and FACT. Loads of AIM co holders grumbling about having to raise money for drilling and that includes the Anglo JV partner in the UK listed co.
BUSHRANGERS, Australia:
Despite a Expert coming to look at Bushranger and potential of gold, given the geology, it had NOT materialised where XTR drilled to any extent. That is something no one could foresee. Many of us did NOT know why CB did not want to drill further to look for other deposits to increase the tonnage or higher grades inc gold. Bob told us why. CB said it would need $8m to drill. From CB's style, he delineates a CERTAIN SIZE and as he said he leaves the rest to the buyer. That was true with KALUMBILA sold by Mr Bird [C.B] for some US$245m to First Quantum.
SILVER KING, ZAMIBA
This is C.B turf given Kalumbila was also in Zambia. Since it has now been post the target is 500Mt, that is 1/2 a Tier 1 size and given the spend, it may be then left up to any potential buyer what they want done. SO, ANOTHER SALE PROJECT as Mr Bird does SALE OF PROJECT quite well. For Bushrangers, he said it was a "ACE" and that "it WILL BE A MINE" so potentially to be sold.?
MKT CAP £8M+ vs US$15m Manica sale with today's news on the Silver King JV with Lemon. 3.4.24.
More likely to go back to 0.8p if you ask me.
There is just no reason for the SP to rise on yet another lacklustre small-scale acquisition.
Mm means Market Maker, I didn’t witness any market making today, abysmal from them. This should have moved up beyond 1.2 with relative ease.
Dust is settled today.
Exactly. XTR just acquired one of these copper prospects a while ago and that is yet to be drilled. And there certainly isn't anything to get excited about until they do some drilling. Plus they still have Bushranger but nothing has happened there for ages. And Birdie has several of these types of companies, all with lots of exciting prospects but all just about worthless. When will people ever learn!!
Why?
Is highly prospective, that is clear enough from Glencores involvement that it was confident enough to put work into silverking. Their involvement appears then, to have been targeting a tier 1 deposit. The JV’s ideal ‘target’ is toward a far less significant in relative terms, but however very significant in outlining a resource of 500mt in line with the strategy.
Plenty of good indicators from the induced polarisation, particularly indicating the potential of a bulk tonnage halo around the high grade breccia zone. This could prove to be really significant too in the viability of any resource found. The bulk tonnages are crucial to extend any mines life beyond the initial kickstart of the high grade zone.
Early days but a lot of the groundwork of discovery has already been done and with an initial buy in budget of $500k over 18 months it’s not going to put strain on the treasury.
I can see initial buy in being fast tracked with the second phase earn in of a further $1m for 70% also manageable without dilution via funds needing to be raised.
Timescales are long set, which will give xtr time to work around budgetary requirements across other projects to avoid fund raising to advance Silverking.
Does fit perfectly with the type of project the company are seeking under its growth strategy.
Let it begin!
Some decent black trades appearing!! Did they need volume to fill? Let’s get moving up now
Its about time we started getting some good news been stagnent for a while,think we will head slowly up to between 3-5p over the coming months
The Birdman has delivered, this was 1.5 a few months back without todays news! Fly baby fly
Crazy cheap and way overdone stock.
Fingers crossed pal! Great news so deserves better
Down to 10% perhaps that will drum up some interest.
This should be seeing lots of action now. With people seeing the RNS and wanting in. Come on if it starts it will go (i hope- i need some good news).
Ive seen a few shares like that over the years big spreads, its maybe above my brain power but is there any reason why a MM wouldnt want to shift shares and make some money, instead off no action happening at all, just makes no sense to me BWTFWIK .
Agree predator, there was appetite when it started to go. Close the spread and they can take it higher
It's not stopping plenty of half mill sell trades going through at a penny though.
Looking at the prices the spread isn't quite as bad as it is shown. but 14% is still a hefty amount and it is just killing this. We should be climbing nicely, with profits for all.
:(
Poor people that got in before news cant even top slice and take some off the table really, just locks everyone in with no market there, and no one is willing to buy with a spread like that.