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OK, it was just an observation. I note what you say and it wasn't my intention to cause offence. I don't deny that Iceberg has been an enthusiastic poster. Even caught the attention of CB, who name-dropped them in one of his interviews.
Agree with that totally gixxer, personally his commenting has given me the direction in which to steer my own research to substantiate and further understand.
Agreed - It's been uncanny at times how close Iceberg has been with his predictions re:RC - I think most on this board hold him/his knowledge of porphyry systems in high regard.
"which there/their/they're to use, and the like." oh come on, I think you need to readdress how you assign intelligence; for one if you use this site via your phone it's awful, adverts everywhere, very hard to check what your auto correct has deemed the best fit. I would judge more on how accurate someone has been with predictions and at this point he has been better than most but we won't know until the song is sung
What I like about this stock is we have potential top ten copper mine in low risk jurisdiction easily accessible and have income coming in as well from gold. Copper is and will be in even more demand so just a matter of when not if a deal is done
Pedro - If you wish to get up to speed on the company's strategy, you would be better off spending your time reading the most recent company RNS releases, rather than relying on opinions from anonymous posters on here. The company's strategy is quite clearly outlined in the last couple of updates.
As for Iceberg, I've not noticed them post for a while. I'm not sure they were as clever as you make out though. I have nothing against this particular poster, but their standard of written English wasn't great, which is always a red flag for me. You know, simple things like not knowing which there/their/they're to use, and the like.
The ups and downs are typical of exploration mining co in Aim.
I think this could miror SolGold volatility . A few years ago the sp 10 bagged over a year on a good discovery. It then went down by 90% over the next 18 months as many had started to realise that the time scales were going to be longer than they thought - so many sold.
Over the next 12 to 18 months the sp 15 bagged as progressed was made and the end game became more realistic and nearer.
The fundamentals of Xtract havnt changed but the anticipated time lines have changed , which explains why many may have sold. We may need to wait another year before there is a buy out but i expect the sp to start to rise in Q2 as we start to get more news and clarity.
Whether it stops rising at 8p or 10p or 20p or even 30p is another question :)
Pedro surely being a long term invester by your own admission, you should understand AIM start up companies and how they function. Particulary in mining exploration. The race is still running and not over yet. Either your ticket comes in or you bin it. Decisions have not been finalised, the risk / stakes are very high and the share price will remain depressed up until negotiations have concluded either way. Market will not gain confidence until this has been done. I'm afraid that maybe you should consider something a little safer as going by your comment, it seems you may have over exposed your investment if you can call it that. All being said there are expectations of fruition in more than one asset. Therefore we are in with a chance. Big risk big gains or big losses. Better odds than the lottery.
Hang in there as i would hazard a guess that you are holding onto big losses on paper like the rest of us. Lifes a risk bud
I don't understand, all these people bulling up this company? I've been in this share for years and look where the share price is?? What on earth is happening? I used to read a guy called Iceburg who was a very clever guy who said this was going to fly, so who can tell me what's going on.
Looking good for us
01/18/23 0.00 9,435.35 9,436.00 9,434.50 1,108.00
01/17/23 0.00 9,112.80 9,113.25 9,112.00 665.00
01/16/23 0.00 9,145.25 9,145.50 9,145.00 2,635.00
01/13/23 0.00 9,106.75 9,110.00 9,106.00 1,101.00
01/12/23 0.00 9,071.40 9,073.00 9,071.00 1,098.00
01/11/23 0.00 8,986.50 8,987.00 8,986.25 1,217.00
01/10/23 0.00 8,766.50 8,770.15 8,766.00 1,501.00
01/09/23 0.00 8,721.75 8,721.75 8,720.00 1,394.00
01/06/23 0.00 8,362.25 8,363.00 8,362.05 738.00
01/05/23 0.00 8,418.85 8,420.00 8,418.00 1,097.00
01/04/23 0.00 8,208.75 8,209.00 8,208.00 850.00
01/03/23 0.00 8,389.85 8,390.00 8,389.25 985.00
12/30/22 0.00 8,386.25 8,400.00 8,380.00 1,260.00
12/29/22 0.00 8,394.50 8,395.15 8,394.00 890.00
12/28/22 0.00 8,450.50 8,450.85 8,448.50 1,218.00
12/23/22 0.00 8,327.85 8,327.85 8,307.00 806.00
12/22/22 0.00 8,290.25 8,345.35 8,290.25 1,036.00
12/21/22 0.00 8,327.00 8,327.00 8,326.30 982.00
12/20/22 0.00 8,301.50 8,302.00 8,301.00 1,225.00
12/19/22 0.00 8,195.22 8,330.25 8,195.22 5,391.00
Just looking back through Manica previous owners Auroch minerals news releases which confirmed on 5th july ‘13, there was significant continuation of gold mineralisation and multiple exploration targets which had 33 reconnaissance or scouting drill holes extend a couple of km across the shear from Guy Fawkes easterly toward Boa.
Results then justified an infill programme at GF, FB and Dots luck toward the DFS which all assays were returned by end of 2013. Into feb 2014 saw an environmental impact assessment delivered. Then the updated MRE the following month along with Metallurgy test results and scoping study.
Also in the busy month of March 2014 Priority exploration targets released which is of some interest (not drilled)
https://www.asx.com.au/asxpdf/20140327/pdf/42nn0zyvdqk3wv.pdf
Plenty of house keeping followed until the release of preliminary economic assessment on 11/06/15
https://www.asx.com.au/asxpdf/20150611/pdf/42z42n48gywmpr.pdf
Very soon after, the announcement of sale to Xtract under 3 weeks later 30/06/15
https://www.asx.com.au/asxpdf/20150630/pdf/42zhn3z6kyt93v.pdf
When it happens it can certainly be quick!
>>Big tail winds coming after Chinas fully reopen later in year? Could well be above 10K soon and nearer 11k by end of year.?
Agree with that tail wind Andrew
China had reported better than expected growth from last quarter of ‘22 adding to expectations of higher industrial demand. Will really kick start that recovery back to and beyond all time high.
Fundamentals and SP have been de coupled for some time here.
Probably stay that way until release of Financial model or FB income released when at full production.
SP doesn't care it seems
POC above $9500 on LME
Big tail winds coming after Chinas fully reopen later in year? Could well be above 10K soon and nearer 11k by end of year.?
>>Drilling at opposite ends of the shear, based on similar geological structural signatures, returned similar results, suggesting sound continuity along the shear.
Do we know if this shear was extensively drilled back then to confirm continuity or even to add to the ore reserves?
Is a very fertile region, and already having a good geological understanding is what gives the partners the confidence to add the sulphide plant extension. There is potentially a lot more to come from Manica now the initial plant is running.
" now the plant is up and running the opportunity is there to exploit what is available within the permit."
Agreed.
Lets just hope we do focus on doing that. We have the 50/50 agreement with MMP to do so.
CB is fond of using the expression "If you want to find Elephants then look for where they have been found before "
So I hope he does that as Ed Slowey our resident Geo has said there is Gold everywhere at manica but its different mineralisation: , oxide, transition and sulphide.
May be a better use some of the FB income to add sulphide plant on and do more exploration at manica than the looking for copper in remote areas of Africa.
That hasnt worked out too well so far...
Yes.... a producing plant more than 10 years in the making..... at least it is MMP and XTR that finally benefit from this in the end... now the plant is up and running the opportunity is there to exploit what is available within the permit..... instead of just talking about it.
Yes but only to a degree Billy , economic viability is essential for the decision to mine trigger point to force AA to either exercise their option to buy back in, or pass so Xtract can be free of the binding agreement and then offer to the global market. Getting to this key decision point is mega important for the project.
A low economic cut off grade is essential for economic viability, determined by how cheap it is to mine from factors such as the recovery rate and estimated mining cost etc. Although COG’s are not actually fixed, they constantly change for each block of ore that make up the resource as the economics improve as it is determined by the cost to mine that block and the price that a company can sell for.
An average grade is used for the assessment.
hoezap re last post 1927hrs
Surely its the copper thats going to be the key to help the economic study and any precived futrue share (sale) value.
10p sounds cheap.
The JORC resource is looking to be in the region of 800MT+ with 1.5 to 1.6Mt of copper after infill and any further extensions with a pre feasibility study that will then show a ‘realistic’ economic study. It will be black and white as CB’s reputation becomes quite irrelevant when this point is reached.
The lower bulk grades that make up the majority of the resource can not be ignored. It will be these that extend mine life beyond the 20 years that the big miners want. The original conceptual study established that, the then current 71mt defined resource could deliver a positive NPV return at a 0.15% Cu cut-off with at a rate of 20Mt per year at a copper price of US$5 per lb.
It concluded that the >>Racecourse deposit contains significant low-grade tonnes of copper and gold which may be economically recovered at a copper sales price above US$4 per lb<<
Phase 2 delivered more than what was asked from that study to ‘increase’ economic viability by increasing the size of the resource.
It should be a big viable resource, how could it not be? Since then, stripping ratio will reduce, due to converting waste rock into ore, high and efficient recovery rate from metallurgy samples, and copper looking to rise further into the year that all have a positive effect on lower cut off grades.
I would certainly believe it will attract a far greater value than 10p per share!
Maybe by that he meant stick it in the Xtr bank account quicker than a flying Bird, Gixxer ?
Fair enough Andrew, but not to be always agreeing with you, I'll go with less than £50M gbp for a Bushranger sale I would consider a disappointment.
( my learnings from a long time here is expect a lot less than the average of the participants on this BB would have me expect.. and I'm going to guess you're around the average in that 100m gbp comment .. note that I'm not just including the Bush bulls in that, I'm including the Bush bears too.. and for plenty of them CB's reputation is earlyish down the road tatters already, in fairness.. I'm not an Bush bear, but I'm only somewhat bullish more than strongly so)
If AA do not make an offer then I can see us using the African money to conduct further drilling to pad out the resource to something AA, or A N other, are interested in.
However, I think that although AA may think the resource is currently 'below spec' they also know that a resource like BR is potentially very valuable (especially in the near future) and it's other attributes (primality location and the numerous benefits that stem from that) are second to none. I can imagine they may well want to keep a toe in the door and may offer some sort of limited JV (funding possibly) to allow XTR to continue exploration on the basis the AA get first dibs (again) with some sort of sweetener (for them) should a suitable amount of Cu be found.
Just musing....
And don't forget - Bird himself is on record saying he'd 'tell em where to stick it' if AA offered 10p!