Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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What you say makes sense but after 6 years of holding XTR one really wonders if this fenix will ever take off.
I just would like at least my hard earned money back
A strong Chinese economic recovery is looking more evident that will be the main driver for copper futures
>>>Copper futures rose above $4.15 per pound, approaching the seven-month high of $4.27 touched on January 26th and tracking the increase in other base metals amid persistent supply concerns and strong demand expectations. Investors continued to monitor the extent of improved Chinese purchasing after the country’s economic reopening, as new home sales grew for a third straight week in 16 major cities. Industrial demand is also expected to pick up as the government is set to announce further stimulus measures at its National People’s Congress in March. On the supply side, a series of production and export disruptions by major South and Central American producers compounded concerns about low inventories in the US and Europe, adding to worries that copper markets could be heading into a severe deficit.
* tradingeconomis.com
You cannot ignore the effect that higher commodity prices will be having on the ongoing economics of the currently held projects. Bushranger is one thing, that will only become more desirable on top of the political and geographical jurisdictional landscape there is in Oz.
Then there is Fairbride, which I consider as, still being the primary asset, as production now will be a spring board for the company. Along with its current, proven mineral reserves, there is huge scope to increase its life of mine as the ore body is open down dip and to the west. But beforehand within a four or five years when all the oxides and transitional ore has been mined, the higher grade deeper sulphides can be processed on site too, with the planned plant upgrades talked about.
Elsewhere across the concession, with the well known geological understanding there is, taken from an earlier scoping study -
>>Importantly, the concept study indicated that much of the Manica Project area would be readily amenable to low-cost surface mining techniques, and that it exhibits no particular technical or economic risk issues that could undermine its operational viability.<<
The later PEA for Fairbride is based on gold price of only US$1.250.
All other small to medium scale mining operations that have already and will be taken on under the current growth strategy, can be easily accommodated in the project portfolio. There is no long term limit as to how many projects can be taken on due to how these JV’s are structured and individually project managed.
Xtract resources is in a very strong position if you have a longer term outlook, notwithstanding a multi million dollar short term potential return from BR.
I continually look elsewhere to compare as I re-evaluate Xtract at every key RNS and have not yet come across a better investment opportunity that offers both short-med term high return and investment longevity under a solid ‘growth’ strategy that I understand and can relate to that will only get better and better as prices rise.
CB better a get a move on with this buy-out.... hes going to lose a few million options if he doesnt strike a deal in next 12 months
"The New Options will lapse five years after the date of the award, being 19 February 2024"
https://www.lse.co.uk/rns/XTR/directorpdmr-shareholding-m5g41puow1y4x62.html
Still worth a lot more than the existing share price. Buts it’s not worth hundreds of millions, that dream went for me
This is what they stated in the notes section of the ascot update. So it gives u an insight in their own assessments. The problem is that a more conservative copper price will probably be used for any buyout, therefore I can see the ore down to 0.1% being disregarded - it’s all about tte high grade element in imho and we need to finish off finding all of the ascot high grade element.
‘’’’’A cut-off grade of 0.1% CuEq has been used applying a copper price of US$8,800/t, a gold price of US$1,800/Oz and a silver price of US$24/Oz’’’’
I think these prices are quoted in US 'short tons', i.e 2000 lbs, not the metric tonne (2204 lbs) or the long ton (2240 lbs).
Over 9100 certainly, but that price is quoted in $, not £
Price per tonne is £9100 ATM
The asset is looking more viable by the day.
I’m just wondering what history has to do with ‘current fundamentals’.
So for 7 years the majority of that, Manica with the Fairbride plant under “development” was the primary asset, and you decide to sell up just before any meaningful revenues from it are reported.
I don’t understand the logic. You had waited this long.
Best of luck to you too.
Your first two posts on two companies today
Good effort
" i finaly lost faith & sold at start of December before the latest collapse in price"
The share price was 2 to 2.1p at the start of December - just slightly more than now and significantly lower 2 weeks earlier.
The fall started in Mid Nov so you didnt sell before the collapse.
With the narrative of our post I'm not too sure why you decided to title it "Long term hold !"
Thank goodness i finaly lost faith & sold at start of December before the latest collapse in price. Having held from the glory days of Chillian mines some7 years ago, when some promise made a gamble in XTR look Worth a try. The continual farce of events promising a return on investment for shareholders however, never quite materialising. History is testomy as to why any private investors should consider very carefully the fundamentals when considering investing in this company.
7 years of reading this message board has been illuminating as to the comedy value as opposed to any serious value. Best wishes to all private shareholders, i sincerely wish you the best of luck.
Is encouraging they are doing all the technical work to increase Kakuyu run of mine and to maximise tonnage for delivery of ore. Regarding JLP Sable plant, noticed in the podcast that he mentions they have sent ore to various processing plants for testing! Likely due to compatibility , but maybe there is opportunity to utilise various plants concurrently to maximise revenue so outlay by the mining contractor can be paid back quicker?
Kakuyu JV agreement
>>reimburse US$90,000 to Oval in respect of stripping and mining to date on the Kakuyu Project, to be settled from cash flow by the reduction of Xtract's percentage share of net profit from 60% to 20% for the period required to reimburse Oval.
Feel Kakuyu will do really well, particularly if targets are met then an on site processing plant can be built.
Who knows if there will be a separate podcast from Colin on Xtract
However - there was mention of Kakuyu towards the end of the Galileo podcast
https://audioboom.com/posts/8241014-midweek-takeaway-with-colin-bird-executive-chairman-of-galileo-resources-aim-glr
About 19 mins
Colin has mentioned other potential Zambia projects in the pipeline for Xtract
Jubilee metals is gearing up its copper processing capacity in Zambia not just for the contents of dumps that it controls itself -but also to process ore from third parties. That certainly could be the case with what Galileo has at Luansobe. But could also be what is being lined up for the ore from Kakuye.? The RNS mentions that a 250 tonne bulk sample is being analysed at Kabwe. Possibly at Jubilee’s Sable plant
Colin has just bought another 200,000 Jubilee shares
3 years ago it all looked so promising !
At least Colin remains confident. Hopefully eventually it will come good across his companies. A year ago it all seemed so promising !.
I have far too much to say at the best of times iani ;-)
Futures forecast has been updated recently and is quite apparent that although there is not quite yet that imbalance in the supply v demand metrics to see copper price break and push higher, you get the feeling that it won’t take too much to see that tipping point. Is a case of just when. At present with interest rates being hiked that are tightening financial conditions, there are concerns of a sharp slowdown in leading economies. But on the flip side there is speculation that copper markets are heading toward a ‘severe’ deficit manly because of difficulties in South American supply lines.
So it may well be on the supply side that it starts to really tighten first, with the ‘certain’ to increase demand being tempered for now.
Thanks Howezap for keeping the board alive. I think we will need you even more in the next few weeks before the release of the next reports.
>>>CB having a PR drive of his various companies, with podcasts in fairly quick succession-
Kendrick 1st feb
Galileo 3rd feb
African pioneer 6th feb?Then another Galileo podcast. who’s next?? <
That completes the round up of his other companies. Although it doesn’t mean Xtract will necessarily follow but it would be welcome.
https://podcasts.google.com?feed=aHR0cHM6Ly9hdWRpb2Jvb20uY29tL2NoYW5uZWxzLzUwNTExMzMucnNz&episode=dGFnOmF1ZGlvYm9vbS5jb20sMjAyMy0wMi0xNjovcG9zdHMvODI0ODM5OA%3D%3D
Not invested in Bezant either!
The way I see the next phase planning go will no doubt be determined by the updated model, which will likely involve extensions to RC to increase tonnage, similarly growing Ascot and hopefully the bit in the middle can show continuity to potentially join up both starter pits into one.
Dependant on what it shows, will determine if any infill drilling to the high grade crowns of RC/Ascot will be done in ‘this’ phase. Otherwise, they may remodel the assay data from the next phase first before the decision is made to end up with the infill programme after that.
CB prefers to say concentrate on areas of resource where too much tonnage is relied on with limited drill hole information! But that is basically infilling. Wether or not this is what was actually hinted at in the Ascot MRE podcast is to be seen. But ultimately they will ‘end up’ with the extra work on the high grade crowns to upgrade the resource.
Infill is not a dirty word, but is necessary, it will only be a shallow programme, so will be quite progressive and could even switch to cheaper RC drill, but depends if they need to show consistency in the geology model as reverse circ drill core is basically rubble straight from the hole that is bagged up on site for assay and not analysed beforehand. ( which is where the extra cost comes from)
With you Joeman, updated mining study first though and hopefully soon.
LW,
When do you think it's been suggested the mine life is reduced from 25 years to 9?
The 7 to 9 years is referring to the targeted higher grade deposit and we would like to think that the study will show the CAPEX paid off well before this is exhausted, so the remaining years could be at a lower grade but would on a marginal OPEX only basis and so would likely remain very profitable...... more so with the high copper prices being slated for at least a decade.
So that narrative hasn't changed.... its just the POC that will return an attractive NPV that needs to be bottomed out.
Roll on the mining study.... cant come soon enough in my opinion
LW it may appear so, but is not the case, I suspect the PFS will only be based on the higher grade material as this is what will pay back all capital outlay and initially what an aquifer will be interested in first.
Only indicated or measured resources can be included in, and support a PFS so potentially will see further infill drilling to convert some /more or all the higher grade to indicated.
This remaining lower grades will only carry their variable operational costs to be mined after CapEx is paid off estimated to bring in approx $200m profit yearly thereafter. Which was discussed in a previous podcast.
Just as an example if you look at haverion PFS it statutes that the inferred resource not being included in their study
https://greatlandgold.com/news/project-updates/havieron-south-east-crescent-pre-feasibility-study-released/
# I am not invested in GGP ;-)
Plenty of time for Colin and Mr Nelson to kiss and make up...
SOLG anounced today they are going to spend 4m drilling in Australia, I wonder if Colin gave them a call ?
If so we will be still here in 10 years time...................