Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video 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.
Except the paid for trip around europe ended up being a few circuits of Aldi car park.
Listening to some of the gripes on here is like being on a coach trip around europe , and then having to listen to half the passengers complaining about the driver actually having the audacity to get paid for the same journey ;)
LW. I'm with you, I'm not selling either, and that old chestnut about selling if you don't like it has always struck me as a mealy mouthed attempt at oneupmanship, " You obviously haven't got the minerals I have sonny" crap.
These posters think the same as the disgruntled but are smiling sweetly as the dogs bite their knackers, trying to pull off the nothing to see here look, desperately hoping things will change. If they did you wouldn't see these stoic holders for dust. they are hoping to get out on a spike whilst shaming us into holding.
Captain bob...
"There are obviously a few disgruntled LTH on this board, maybe they should sell up and go elsewhere"
I have over the years "added" . I now have a sizeable holding which effectively has me trapped. I could sell but believe me you would see the effect on the SP. That is not a realistic option for me. My emails to xtr have been ignored. Yes I am disgruntled.
My understanding was plan was for us to buy the new plant, (counted a chicken before it hatched) to increase the 23% share to 50%(?), or something like that. So if 50/50 would expect 30% plus, but as ever we won't truly know mechanics till all is finally outlibed via RNS.
My understanding was the 50:50 was for exploration, this would be for known resources so doesn’t fit in that bucket to me. But as you say CB was saying about taking a loan to pay capex and not sure why we would be doing that for 23%. I share you view on Manica and see a lot of potential in it hence want it spelt out in an RNS how this works as opposed to assuming based on a “interview”
I’d be fuming if CB dilutes to fund a new acquisition from 1.25p or what ever we are currently
"CB/XTR need to RNS plant extension plans at Manica, for me it’s not clear how this works commercially e.g. do MMP pay for the capex and then XTR get 23% or is this a different deal e.g. 50:50 like what’s specified for exploration in the original agreement."
Surely it must be a 50/50 split as in orginal agreement?
I'm assuming costs will be $10M and its $5M each but we get 50% share not 23%. Extra income should be substantial but that aint gonna happen for 3 years + imho
If mmp paid for all capex then I would assume we are going to get 23% but CB mentioned that we would be paying for all / some of the plant.
Tbh honest I'm very optimistic about FB and future revenue. Just a pity CB doesnt share see it as some do and keeps looking at those lottery tickets.
I see his "looking at more acquisitions " comment today as much more damaging than he realises.
There should not be a sell-off tomorrow based on fundamentals. The MC is exceptionally low and easily supported by FB alone. Even if the FB income figures are lower than CB's guidance (quite possibly) the sp should rise when we get actual profit. This is discounting BR 100%.
There may well be a sell off tomorrow based on sentiment and against lack of trust in CB to deliver or believe anything he says . Oh and his lack of acceptance or acknowledgment of any responsibility
Half m/c going forward looks good because m/c has dropped considerably since his crap/lies whatever is best to call it has become near on fully known.
So from where mcap is now 4/5p in 1yr/2yrs time will look good when infact it is very well below he made shareholders believe where Xtract was going.
I don't think there are many LTH who will sell.
Most are under water significantly and the rest are unlikely in profit. Might aswell wait for the BR study.
The tone in Colins voice was a bit of a give away.
He's now emplying that shareholders were fixated on the 2mt due to the AA agreement.......no Colin! It was you that implied we were pretty much there, with the 2mt and decision to mine. Sale by april/may 2022!!!
My take aways (for what it’s worth)
CB/XTR need to RNS plant extension plans at Manica, for me it’s not clear how this works commercially e.g. do MMP pay for the capex and then XTR get 23% or is this a different deal e.g. 50:50 like what’s specified for exploration in the original agreement.
I assume CBS quoted Manica numbers are at current spot (will they achieve spot or will it be similar to the alluvials and say -100)? Also seems he is ignoring tax, maybe we can use historic tax losses but it seems ambitious not to have any tax factored into the calculation to me.
CB stating 1.3billion on most recent prelim BR update, I assume this is the undisounted cash at 4/lb which seems like a massive improvement on the conceptual study cashflow numbers. Seems like he is aiming for a 25% IRR, wonder if this is at 4/lb as well?
It would be good if he could do a proper interview where his statements were challenged a bit by someone with reasonable knowledge of the company/industry
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...
SP could take a hammering tomorrow.
"I've lost money "
Double ROTFFL !!!
Snake Oil vendor !
Tomorrow SP = flatline if we are lucky.
I think I will go to the AGM.
another question for agm
does *****on hills or jeremy reid have any involvement either directly or indirectly with xtract now
"We're trusted"
ROTFFL !
My Ar se !
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!
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.
Maybe your just good at poker?
"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 :)
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?
"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 ?
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 ???
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...
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 !