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.
MTN, I would argue, therefore, that his way is not good enough. Unfortunately he is the Executive chairman of a PLC, IE. He needs to answer to his shareholders once a year. If this lack of any direction or action whatsoever is purely down to his decisions, then he's chosen a mighty odd time of year to go AWOL / choose the inadequate plan of action. I hope he's ready for the barrage of disgruntlement heading his way at the AGM.
Should add- this has been happening all week.
Anyone noticed a lot of UT coming through at or around 1.6p. Normally see them when volume is big... which it hasnt been. Wonder if we will see a large trade clear soon?
I can only offer you a comparison Ma,
My go to example is Caravel, who without any income have seen their project progress from share placements through to pre development stage and with the latest $15m fund raise to get to DFS and final funding, making it almost $30m raised since their scoping study in 2018.
After, that initial scoping study showing Au$1.1B NPV and IRR of 20% leading up to their revised study in Nov ‘21study, there was stagnation in the ‘share price’ (not MC) due to that overhang and dilution, for some time it was as much as 50% down. It wasn’t until the March of 21 that see the share price really start to appreciate once it looked clearer there was a strong business case for the project.
Resulting in approx 300% increase in their ‘share price’ since then, with a Au$115m current MC ( not allowing for dilution)
The ability for Xtract to fund exploration through income will no doubt have a positive effect on an investment case from much earlier on in the projects evolutionary cycle in comparison
''if he can't get news out quicker or analyse results quicker, he needs to move aside or hire someone more competent''
I'd suggest, Ben 'owell, it's plenty more about what he chooses to do versus what he can do.. he continues to ongoingly 'manage' info. flow here as he sees fit.. granted, he's stretched extremely thinly across all his interests too ..
Altogether, CB does it his way full stop
Certainly think the key to a rising share price will be driven by income initially. The awaited conceptual study for BR is similar to scoping study level. A positive economic assessment would give the market some confidence to finally base an investment decision on. We don’t know for sure if the mining model will be based on 191mt or inclusion of Ascot high grade making 225mt or with or without the effect pre-concentration could have on economics through resource optimisation. What will hold it back is if there remains the perception there is still financing overhang to progress BR.
So dependant on NPV and an IRR of around 20% would hope, a clear strategy will be given on how the next phase will be funded without, or at least minimal further dilution.
It may well be they can never say never in that respect where the usual disclaimer applies. So the market is left still unconvinced.
It may well be they can never say never in that respect.
MA, When is this gonna move? Its all very Zzzzzzzz
I would think and expect news tomorrow should be AGM calling notice and soon to follow , end of year results?
Ok nothing spectacular, but at least the radio silence should be broken?
62 days since any update whatsoever.
93 days since news about BR
133 days since news about Kakuye.
No news about Eureka - information even deleted from the website.
Colin said they were trucking copper ore to the nearby plant. Doesn't take 133 days to dig some up, drive it there, process it and analyse the results.
3+ months waiting for a study about BR....
Someone on LSE mentioned they might be in discussions and can't release results...doesn't preclude an update on the copper in Zambia..unless it's gone the way of Eureka. IE. Tits up and exited stage left.
The lack of news is frustrating and utterly ridiculous (if he can't get news out quicker or analyse results quicker, he needs to move aside or hire someone more competent).
Interesting article yesterday /www.australianresourcesandinvestment.com.au/2023/06/05/why-juniors-are-becoming-prime-takeover-targets/
About that radio silence conspiracy……
In a past BR podcast CB was pressed by kev if they were ready to talk to AA now. CB,s response was “No as they will say show us you got a feasibility study.”
What was noticeable, in the more recent company presentation, for the first time, the long awaited ‘updated conceptual study’ which has been referred to as, many times previous, has now been referred to as the conceptual feasibility study! ???
As I am not one to ramp, 😇 even I would admit it’s a bit thin to start a stampede.
That's what my " glass half full" head is saying.
But the pessimist in me rolls his eyes when he says it..............
Re post 1059hrs.
Please don’t take my post as a dig at anything or anyone. I’m merely playing devils advocate.
As for bad thing or right thing. It’s definitely the right move to self fund projects. The last thing you want is a CEO coming back and diluting the hell out of share price.
I personally think CB has been told to maintain radio silence as AA have not done with us yet by a long shot.
Will somebody pass the parmesan please :)
When is our great leader going to come forward and save the day, after all the guff he spouted that we had it in the bag and everything is rosy in the garden, and look where we are now. I`m sure a lot of investors would really like some real answers now and stop this rot.
Oh dear, another potential disciple you have pushed too far MaTwinkleBaker,
Tone it down why don't you and try to keep off the pharmaceuticals during the day at least.
As you said to me, come back with something of SUBSTANCE.
All you have ATM is what ifs and and a rigid belief in the unlikely.
Frankly you are getting tiresome and boring, we have enough to put up with this company without you talking tripe too.
Ma. Don’t normally talk about my skill set but just feel need to tell you I lectured at Insead and other business schools on corporate finance, business valuation, M&A strategy and process and other related topics. Worked in M&A for major oil company for 15 years. I can see that you do a good job at analysing published data filling in the gaps, and encouraging others to add their expertise to try to advance interesting topics, which does add good value to these boards. But your subsequent proclamations on share price, future value, likely stock market movements etc etc are just incoherent and illogical. That’s fine but you insist on repeating the same nonsense over and over and whenever people point out any of this you just double down and carry on. Your prerogative of course, but it’s not a surprise you get the reactions you do….. Anyway rant over. Won’t engage again
Hi joeman, Manica can now be considered primary asset by the very definition, “a main asset that paves the way for acquiring others.” Not necessarily of priority or immediate importance, of which BR I believe is still, as has always been of highest priority to trigger the AA option one way or other.
"Xtracts primary asset is now considered to be Manica"
Manica might have been the reason that I jumped back in...... but can we really say Bushranger is still not the current primary asset and therefore supported by income from other assets such as Manica?
I know that the last updated presentation only a couple of months ago placed Bushranger front and centre.
Come on Colin... lets clear this up at the earliest opportunity.
2 months, not a word from XTR, this is only second long period of silence (the other 76 day vacuum over new year 2018 / 2019) since I have been in XTR. Hoping to goodness Colins historical statement, no news is good news can remain valid.
Bizzy & billy I do get ya, are no doubt good and valid points you also make.
Xtracts primary asset is now considered to be Manica, with its ability now, for potential to bring in, and fund initial development of ‘other’ assets for those to then become solely sustainable under a solid growth strategy. Although the core business, is of course exploration. So to marry the two together to exploit that income, through joint ventures to mitigate risk and that are not heavy front end loaded, that ability to grow assets and ultimately increase revenues is basically exponential if investors can appreciate it will not happen overnight. But ‘now’ is the time to jump at a time when project owners will find it extremely dilutive, if at all possible to take their projects to production without support that xtract can give.
The company could potentially be stuck between a rock and a hard place in wether to throw the kitty at BR or to pursue other projects.
That’s not a bad thing right?
Well, that's not very ladylike !
Ma, I understand your argument, and agree with BR part. Yes a sale of BR would generate some sort of payout to shareholders. But all the other income will not. Instead you should just think of it as a funding source that the company will use to keep operating and maybe purchase another BR at some point. If that happens and drilling results, or whatever, look promising then we may have another potential sale and another dividend payout. But if not, share price will just stay very low. Only other possible way for SP to grow in a sustainable way is if XTR gradually develops into an operator, rather than an explorer. Highly unlikely in my view and it would be a long term thing (10 years or so). So little meaningful sustainable sp growth post a BR sale. Always short term trading opportunities though if that is your game (i.e. chart based investing)