We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Really fair point NtM is making, it must now be considered primary with its ability to bring in other assets, cover debt to develop plant extension and progress BR ‘toward’ a PFS.
BR could be a slow burn if AA pass with further drilling maybe done “sequentially, and not all at once” which could mean as funds become available. If that was the message received from last years AGM.
The importance of FB going forward should not be underestimated
Mr Jezzoo. I assume you are meaning to give guidance on the use of criticism ?
OSV "The bully bashers will not be too pleased with the wonderful results starting to come through. "
All shareholders will be pleased !
Critisism of the company doesn't mean not wanting the company to do well, of course it isn't.
Blind faith is stupidity, critisism where it's needed, praise when it's earned
As well as further Bushranger scoping Investment, further investment in Manica has also got to be a pretty core part of our short/medium term strategy, please.
There seems to be a lot of beyond Oxides / non refractory ore opportunities there.. And those sulphites/refractory ore generally opportunities now seem to readily justify the build out on the existing plant ...or a stand alone new plant even .. and instead of Xtr solely expecting to be taking part responsibility for a bank loan - gained off the back of existing Manica revenue - to fully cover their share of further plant build out, I propose that - something along the lines of - for every 1m USD that's ringfenced for Bushranger Development from here forward, 333k USD is in parallel ringfenced for xtr's share of costs of growing out Manica plant capabilities.
Generally, while I get that Bushranger could - might/hopefully - eventually be a complete game changer here, reciprocally, please could the here for Bushranger gang give - obviously now justified - more respect to Manica Gold project. I still believe you're absolutely not and I witness that this s/p has not rallied meaningfully recently as proof.
Seible offers: ''People who are selling at these prices must be insane IMHO''
(While I wouldn't word it as strongly as that, I did struggle to understand the selling here after our recent RNS, when this share was trying to start rallying back up.. )
I'd be keen to hear your response to Seible's comment please John Swan ?
Good work ma wish I could contribute further but you seem to have a good grasp.
Actual cash in bank to be confirmed in 6 months or so.
Who upset Andrew?
You know he can be a bit precious!
Sorry A.
Guy
Ma - OK, thanks
$700 is too low. I would suggest for operating costs use the statement from CB in the annual report on page 25
"Production has stepped up further since the balance sheet date with the plant processing approximately 40,000 tonnes
of ore per month. The new plant has proven reliable and is producing recoveries of around 88% from the oxide and
weathered transitional ore. The plant has C1 operating costs of approximately $800 per ounce"
Land tax is not related to with where the gold is sold. Selling gold in Dubai ensures a higher sale price per oz than when they were selling in Moz due to VAT. Last production report quoting average realised sale price per oz would indicate that gold is being sold in Dubai.
The cost of team on ground from Explorator is likely, my opinion, an additional cost to the $800 / oz. The last production report doesn't make this clear. I suggest this shold be explicitly asked at the AGM. I won't be at AGM but questions I would like to have asked around Mozambique and FB following the last quarterly production report are:
1. Now FB are achieving commercial production and even nameplate capacity has been reached. Are XTR receiving the $20k per month as per RNS when MMP were appointed ? Is this a separate income line which could be reported or is it netted off the production costs ? If separate income then disclosing this would be helpful in the next quarterly report.
2. The production cost quoted of $1185 / oz in last production report - is this inclusive of production tax or is this a separate cost which XTR as licence holder need to settle ? If it is a further cost above the $1185 then a footnote to explain this would be helpful in the next quarterly report.
3. In the annual report you indicated more recent C1 cost of $800 / oz now plant is processing 40k tonnes per month is this equivaleint to operating cost on which the profit share agreement is based ? Going forward is $800 / oz a reasonable assumption for shareholders to assume when considering investment potential of XTR ?
4. Do you still have an on the ground team in Moz ? If so are the costs of this team included in the $1185/oz or is this a separate cost as it is shared with alluvials and hard rock. If separate it would be helpful to continue to disclose the quarterly cost of this team as done pre Fairbride. Can they give an indiation of the cost per quarter of the team ?
The bully bashers will not be too pleased with the wonderful results starting to come through.
Well done MaBaker for putting the time and effort in to show how the real value is being accumulated.
Ma, just had a quick look. It's $1250 and not $1350 and varies once the gold price goes below that. The Agreement in May 2019 explains it better than l can.
Ma - bit late at night but are you sure ?. I thought it was 23% of profit after $1350 an ounce.
Thanks for the warning
Wink
See you at the AGM, we will see the substance then and it'll be bovine and smelly.
The video of interview with Empress's Global VP was actually released by Proactive Investors but Empress twitted about this update.
People who are selling at these prices must be insane IMHO. Empress just released update on Manica [pronounced correctly ManEEka]: "we continue to see gold increase month by month and plant is largely de-risked [...] and we are looking for additional growth throughout the end of the year" https://www.youtube.com/watch?v=OPYOHEVNh5w
Yes i know , low class :) , good opportunity for jezz to put a post up with some substance , lol
MB, can't really help you sorry , was hoping for something more geological ;) maybe zap ?
Within the Financial report of another of CB’s companies, he lists 15 “other” directorships. Just how much time does OSV think CB actually spends on not just the other companies but the many projects within each of those companies. At best, CB and his board, are “part timers” but paid handsomely into the bargain.
"Quite why they think that they possess the necessary understanding to avoid losing money is beyond me as they quite clearly have lost out. They remind everyone of that fact on a daily whine crusade."
Many here didn't have detailed knowledge of the company/industry. They made the mistake of listening to and trusting cb. Expensive mistakes and now you come along and tell us cb is working hard and should be trusted.
Cb has a credibility problem. Yours is even bigger.
Backtothesoil. It demonstrates the importance of timing particularly when dealing with an opportunity such as Bushranger. Clearly there are some gaps in the understanding of that fact amongst a few on here. Quite why they think that they possess the necessary understanding to avoid losing money is beyond me as they quite clearly have lost out. They remind everyone of that fact on a daily whine crusade.
>>The biggest positive regarding XTR is the hard work being done by Colin Bird and the board on shareholders behalf.
Alastair (sorry OSV) - It's interesting you keep praising the 'hard work' of the BoD especially when, in the most recent interview, Bird himself stated that he had nothing to do with the good progress at Manica. (A reminder; the project is 6 years behind Birds forward guidance)
Furthermore you note how you 'trust the board to deliver on our behalf' - It seems the BoD don't share that same trust in the company as it's only Bird that has actually ever bought shares in the company.
That must have some sort of school that has produced somebody who regards a price drop of over 70% as encouraging.
I know why I'm here and what I expect and expected.
I still think I will at least get my investment back hence the reason for still being here.
Unfortunately your "good education" hasn't made you a better person it seems.
No doubt when we have an improvement in the SP you will be taking all the credit for it as you come across as a "I told you so" type.
Mr Jezzoo. Unfortunately for you it appears that it is your school that has produced the bizarre situation that keeps you invested in a company whose board you do not trust, in a chairman you do not trust, and building up value that you refuse to acknowledge. At least my education has given me the tools to recognise a good thing when I see it.
Backtothesoil. The chart looks like a wonderful opportunity to me ? A good education no doubt helps me see that.
Does Kwack have bi polar. We seem to have gone from one extreme to the other. Regardless of Racecourse, a gold producer being valued at approx 2 x earnings deserves to have questions asks. Why have bulletin boards if you can't discuss?.