Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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There were speculations about Colin Birds financial situation on twitter a few months ago.
Remember he was earning circa 150k as chairman of Jubilee and he could afford to give it up.
Dont worry about him- he isnt going to be homeless. He has several companies that each pay him a salary (even though none of them ever go forwards) and he lives in taxfree UAE and can afford to take prolonged summer vacations in Europe.
All of this funded by you and I
------------
Colin Bird’s AIM record (as of Jan 23):
Time he became CEO of BZT- SP 0.5….now 0.08
Time he became CEO of XTR- SP 10...now 1.8
Time he became CEO of Galileo 7.38...now 1.3
Naughtygordie fair point you make, some clarity would certainly be welcome where this stands if there is a conflict.
https://www.lse.co.uk/rns/XTR/option-agreement-eureka-copper-gold-project-zambia-amhodt6e1ayqxty.html
As i understand it we only had 50% of eureka and we're in bed with kpz, the people who brought us kalengwa, i imagine these could be stumbling blocks, time will tell .
https://audioboom.com/posts/7941767-traders-cafe-with-zak-mir-colin-bird-executive-chairman-xtract-resources
Search audioboom podcasts for xtract 14sept ‘21 if no link again
Andmillsy->> is Eureka a dud?
There is massive potential there, as there was with Kalengwa. The difference though being Eureka is placed to nearby processing plant with the dirt haul road that leads to the mine having been upgraded in Q3’21 to handle heavy vehicles to allow the transport of ore from site. So can certainly rule out any logistical or geographical reasons for not commencing operations.
A Zambia-based contractor would have been contracted for the initial open pit operation. But as yet there is no confirmation that mining has commenced again.
From final results 30th June ‘22….
In Zambia we have identified and modelled a potentially mineable resource at Eureka and are carrying out trial mining. The initial trial mining produced a very high-grade ore, but metallurgical testing proved to be very refractory. Further drilling and test mining has shown this to be a local phenomenon and we intend to commence operations during the 3rd quarter 2022.
From half year report 30th September ‘22
Previously reported drilling by Xtract confirmed continuity of the shallow mineralised zone over about 300m of strike, with pockets of exceptionally high copper grades in a partially oxidised supergene zone. A second, possible stratabound mineral style may also represent a target of interest. (IOCG)
No further exploration was undertaken at Eureka during the period pending consideration of options for possible future development.
So being a significant undertaking, with maybe wanting to streamline the contractual obligations of the mining and exploration activities. is likely the company is just holding back due to limited resources.
The principal activities for the 12 months from last sept to sept’23 that resources have been allocated from recent half year report.
? Operating alluvial gold mining segment - Mozambique
? Mine Development - Mozambique
? Exploration
? Investment and other
For interest, last podcast dedicated to Eureka from back in sept ‘21
The Traders Cafe with Zak Mir / Traders Cafe with Zak Mir: Colin Bird, Executive Chairman, Xtract Resources
billy101203
Posts: 23,392
Price: 1.875
No Opinion
Re:Roast BirdToday 13:38
At least tone hasn’t changed.
Sure he have a date of April/May for AA to make up their minds.
(Sorry about typos on last post)
At least his his time hasn’t changed.
Sure he have a date of April/May for AA to make up their minds.
No SP changing revelations unfortunately, just CB giving his opinion on all sorts of things unrelated to XTR.
Very little info on xtract imho. No new info
Summary
1. FB should do well in 2023 and looking to add on sulphide plant and explore for more oxides
2. POC should do well over next 2 years
3. Year of the small miner
Yes but horse Dani isnt even prepared to be led to water ...it wants to gallop off in the other direction :)
Oh well. We all tried.
I agree A4444 it's optimistic but maybe he'll read the board and recognise these are concerns which need addressing
You can take a horse to water but you can't make it drink...
Good questions Andy, but I doubt the roast boys will be grilling CB. Its a paid for interview and they will be letting him use it as a PR tool. I hope I'm wrong but very much doubt it.
Btw, sterling work by you and James on the other site trying to explain to Dani how our FB arrangement actually works and why her income figures are nonsense !.
As the saying goes....there are none so blind as those who will not see :)
Asked if these can be part of the roasting... Let's see
Few questions on Manica for me Kevin
1. Fairbride it's not clear when we will get a clear view of operating profit from which we get 23%. Delayed Q3 said it will be reported half yearly. Does that mean it will be in Q4 22 production RNS which hopefully is out in Q1 23?
2. Is Colin surprised that 6 months after first gold pour that FB still not achieved commercial production? Eg 29000 t per day of 42000 capacity. Have MMP got issues with staff and capability?
3. For last 2q gold sales have been at least 10% below gold spot rate. This indicates domestic rather than export to Dubai refinery as when domestic XTR lose the VAT. What is the problem with getting exports done?
4. Why has Guy Fawkes % of gold earned dropped dramatically in Q3 to below 20% rather than 26% per agreement? These are both before production tax.
5.alluvials how much life left in then given steady drop
6. Any exploration underway or planned
Bonus one
1. What has happened to Eureka. Production in Q3 22 we were told in 2021 chairman report. Is it a dud?.
Sunday special with CB today per Telegram
Mining update article from John Cornford. A fairer reflection than the October article before it. This latest is still a bit hit and miss though.
https://masterinvestor.co.uk/commodities/december-mining-update/
Was from 1st December but I’m sure it was missed on LSE at the time. So apologies if was posted before
https://www.mining.com/copper-price-rises-above-9000-fueled-by-optimism-about-china/
its always been said we have tomorrows copper , not todays. this is sorth alot more than £16m
Barrick CEO Mark Bristow: We do not have enough copper to ensure green-energy goals
US passing a bill releasing a lot of money for 'clean-energy'
' One thing about clean energy is you need a lot of copper' - 'We don't have enough copper to support being a greener planet'
Going to have to go out and find more.....Well.... :)
Get on the blower to Barrick
https://www.youtube.com/watch?v=l6ZOX_Yjxsk&ab_channel=CNBCTelevision
M&A rebound
Barrick’s Bristow said the precious metals sector requires “considerable consolidation” in the near term, but “no more stupid M&As.” Declining output and old assets make smart investments hard to come by, but he expects the industry will get acquisitive.
The world’s second-biggest gold producer will be focused on “the junior part of the market” this year “where it fits with our exploration focus,” he said on Dec. 28.
Meanwhile, copper miners are headed for a round of deal-making in advance of rising long-term demand for the wiring metal.
“We’ve seen for the first time in a long time M&A start to pick up and personally I think that theme is going to continue,” Lundin’s Rockandel said. “A lot of the big companies are talking about the challenges of finding more copper and wanting to grow their production.
Only £22k ……it all adds up. Doesn’t matter how rich you are.
"Also clearly not a closed period so no significant news in the short term."
If XTR are not aware of the conclusions of the independent consultants preparing the economic model then presumably Colin Bird is free to buy shares. Who knows whether the report will be favourable until it lands.
If however XTR is already in receipt fo the report buy it is not yet published then that would be a different matter.
Always welcome to see director buying. Perspective is needed though. The outlay is £22k. Not much to CB who undoubtedly is a multi millionaire. Now if it had been £100k plus it might raise eyebrows. Also note the market reaction which is actually quite muted and tells you everything. Also clearly not a closed period so no significant news in the short term.
fair play CB.. and while every little rise helps, in my mind this should not have gone under 2.5p in the first place, so until it gets back to 2.5p the s/p remains joke low versus the assets, even in very bad play out scenarios....
(in average to decent play out scenarios this s/p should be much higher than 2.5p.... and in good to very good play out scenaios this s/p is a total and utter farce)
IMHO & DYOR
"It’s probably best for now to let ‘Actions speak more than words"
Radio silence by CB who loves self promotion must be hard. So what does he do buy shares!
He's buying to tell us something he can't ACTUALLY tell us but it must be positive.
What's the closed period with XTR 30 days ? 2 months ?
At least 30 days until SP changing news then ?