Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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A very thin day of trading with only 11 individual trades completed. Almost the whole circa 800,000 volume was accounted for by a 500,000 trade classified by ADVFN as a 'sell'. However a poster on another board posted his trade confirmation for that trade which was indeed a buy, albeit below the mid-price. The slight tick up in SP occurred at 8am thanks to a UT trade of just 67,233.
I, for one, would like to see a share consolidation as a penny stock with 860million shares in issue does present a rather less than serious image, and points to a history of multiple cash calls. A higher SP/lower shares in issue would also allow for tighter spreads and finer % movements in the share price. Both of these effects should lead to greater traded volumes and will bring in new blood to the shareholder base.
I think I'm right in saying that we have never had alluvial quarter results later than 3 months after the end period. I think 30 Sept was the latest ever and that was for Q2 results ending 30 June.
So unless we are going to have alluvial results later than a full quarter, which has never happened before, we should get Q3 results tomorrow.
I will be interested in Guy Fawkes results as they seem to be increasing production. From Q2 "The results for the June quarter are fairly consistent with previous quarters with Guy Fawkes slowly opening up areas for production. "
Less than 50Kg poor, 50kg to 60 kg expected, more than 60Kg good. (IMHO)
If the company is seen to be a serious investment opportunity for more wealthy individuals and influential investors. To also attract more attention from market analysts. ‘A favourable view from analysts is excellent marketing for the company.’ Which in turn means they would be more likely to pop up on the radars of bigger institutional investors. Particularly if xtract can take that leap foreword as a profit making company and sustain a strong positive cash flow with the financial demands of current assets.
What are the possibilities of, or the likelihood of a ‘Reverse Stock Split’ otherwise known as share consolidation?
Say a 10-1 consolidation. It would raise the profile above being a penny stock as a higher share price would attract more attention from market analysts. Yes, a consolidation does carry a negative connotation and could be just seen as an accounting gimmick, but not if the company is showing positive cash flow.
Could there be a strategic advantage if is timed appropriately?
How would a consolidation affect the ability of MM’s to create or manipulate liquidity?
Would it reduce volatility?
Maybe one for you NicetoMichu, value your opinion with experience on all things AIM.
Any informed opinions welcome please.
>>>Rinse and Repeat. Excite PI on a prospect and move onto next prospect.
What next prospect is that then?
Eureka I hope. But unlikely while the concentration is on BR. Not sure you understand the position the company are in now, with income from production side of the business that will sustain a positive cash flow to cover operational costs firstly, and then be able to grow the assets on the exploration side in terms of increasing current mineral reserves to extend LOM’s on the producing assets to bringing Bushranger closer to the global market, all the time increasing value with every drill and at every subsequent decision point.
I think any future fundraise would only be to keep the momentum the company will need to sustain the drive toward its current growth strategy. Wether that be to cover operational costs in the short term as fairbride ramps up, or for similar reasons to maybe have in place the cash in treasury needed, to cover the contractual costs of the next targeted campaign in Oz. But would hope there is enough in the treasury to avoid any further dilution.
I certainly don’t believe the company will just sit it out and wait for market conditions to change for the better, by parking up its most valuable asset, to simply move on to the next thing!
What tosh.
CB is - very - wealthy from previous company sale and so his salary here and elsewhere is fairly incidental on a scheme of CB overall wealth imho.
Also, per Andrew's updated holdings post yesterday, CB has a - very - significant shareholding here and this s/p going from 2p to 10p for eg is worth far more to him than a few hundred k salary over a bunch of years.
That said I do accept he's far too stretched across all his interests, and is also very much a thrill of the drill type guy, including a somewhat short attention span with that.. and has 'strong marketing orientation' too.
Generally, I still have significant hope for Bushranger being a very good asset for on sale value here, in due course (late 2023 early 2024 for eg) and we have Africa Fairbride gold coming meaningfully on line in q1 2023 here too.. so in the round I believe sub 2.5p to be a good buying opportunity here.... and sub 2p to be a very good buying opportunity here.. (and I've topped up again this morning ..my 4th top up thru the Christmas period alone)
PS: My guess is he has been holding off on Q3 Africa Gold Prod/Rev update so he can include an indicative update on Dec. Fairbride production.. which I hope will show decent progress from November..etc.. and also him be well placed now(ish) to give good colour on where Jan and Feb might take us in Fairbride Gold production context. And off the back of this upcoming Africa Gold Update I'm hoping we go back to 2.5p plus s/p here.
IMHO & DYOR
Zak confirms the very oversold nature of the stock and offers a near term target price of 2.5p - podcast today.
https://tinyurl.com/4ak8938y
CB has to be over enthusiastic as his bread and butter are PI's. He leads a good lifestyle. Rinse and Repeat. Excite PI on a prospect and move onto next prospect.
There is an Alex Terry on LinkedIn, who works as a Program Director with Barclays Wealth, who are also a large shareholder. His job seems more technical though., So may or may not be relevant.
Global economic uncertainty is influencing ‘futures’ volatility but with Chinas shifting stance on how it is dealing with Covid is welcoming and could be very influential for that increase in demand for commodities.
Copper futures surged to $3.9 per pound level, the highest level since June 22nd, amid hopes of demand revival in China after the world's second-largest economy announced it would stop requiring inbound travelers to go into quarantine starting from January 8th. Elsewhere, prospects of lower copper production in South America continued to drive shortage concerns. Output from top producer Chile slid 6.7% in the first three quarters of the year, with mine protests in Peru stifling the activity. Commodity trader Trafigura warned that global copper stocks have fallen to record lows, with current inventories being enough to supply world consumption for just 4.9 days. Finally, mining giant Glencore estimated a supply shortfall of 50 million tonnes in 2023. Still, copper is down more than 11% so far this year, as global recession concerns mounted after major central banks delivered hawkish outlooks on monetary policy to curb inflation.
• tradingeconomics.com
As well as CB's holdings, the other note worth holding is Alex Terry. He s not a MM or broker as his holdings have always increased and in round blocks.
Whether he is a HNWI or acting on behalf of an investment company, he is obviously confident of the future prospects by keep increasing his holding, and moreover by 6M recently even after the sharp fall which may have spooked some.
Obviously not Alex Terry. Maybe he has done some research :)
It's the CB holdings increase that's the most interesting part of that post imho... and I note Andrew separated that from rest ...to point such out, I'd guess.. but how exactly that extra accumulation happened - as most here have long realised, no doubt, I'm not following this share closely enough to comment on.. - eg salary as shares, vestings, conversions, bonuses in shares, on market purchases ..etc.. - but Andrew on the other hand follows this exceptionally well/ closely.. and so maybe he's well placed to comment on this..
I think that’s the total shares held by the broker for individual shareholders.
Clearly by choosing not to invest!
Interesting knowing who holds what, I wonder how the big boys react to CB`s over the top statements.
https://xtractresources.com/shareholders/
For info, if anyone is interested.
Just been updated on website from 8 Dec.
Changes from last recorded in June 2022. Latest holding stated with change from June holding in brackets.
H and L 155M (+10m)
Interactive 95M (-8m)
Halifax 71M (Unchanged)
Barclays Wealth 52M (-4m)
Alex Terry 52.25M (+5.6M) Those extra bought after big drop in early dec.
AJ Bell 49M (+7m)
Colin Bird now 16.754M (+2.168M)
I believe listening to CB's overenthusiastic podcasts have cost many here a great deal of money.
Good point, well made Pastyhead
(And Pastyhead does indeed rhyme with Ted :-))
Such posting - and Africa Gold, of course - encouraged me into another top up here today.... and more top ups to come from me as we go, I expect.
It's surprising when looking at caravel minerals pfs on their project the similarities with bushranger an ore reserve of 583 my @ 0.24 copper giving 1.42 Mt of copper .The ore body is two distinct areas called bindi 1.13mt and dasher 0.29 Mt and the plan is to work a higher grade area at 0.28 copper for the first five years to pay off the capex !!!.Maybe we could just steal Thiers pfs and put our names on it.Encouragingly the study does produce a profitable project at today's copper prices which bodes well for us.
Many traders use the RSI as a signal to buy or sell, it is worth noting the RSI for XTR is currently at a 4 year low, the stock is materially oversold therefore.
The bottom seems to be in IMO.
Someone just purchased 750000 shares at just under 1.80 and who would have imagined that only a couple of months ago but really does look like this is the bottom and hoping for a rally from here
In the space of a good few months, we have gone from supposedly, a PFS not being a prerequisite to a sale, before the decision to mine was the preferred option to trigger the buy back. To now, it would seem a necessity that AAL, expect to see, and that Xtract will have to provide to support the DTM. Ok, to be fair then, it was always going to be that a PFS was a requirement as for as long as I can recall, the hope was for the DTM and the 2mt threshold were to be concurrent to put to AA.
As long as the economic mining study shows good potential then, they will at some point in the new year, further commission Optimal mining solutions (would assume) to do a PFS. What we do know is they are essential to justify continued investment as it would reflect the increasing economic and technical knowledge gained from data gathered to date. Further to that though, a PFS is a thorough preliminary assessment of all the important elements of the project going forward from environmental and social impacts to the business end, with estimated costs of technologies etc.
Not to be underestimated, it is a serious undertaking. As for cost of a PFS, a simple search would imply anything from 0.5% up to 2.5% of overall project value and can take from 3-5 months to complete. I’m fairly certain that some of the extra drilling particularly to the recently converted indicated parcel of RC will in turn and in part, need to convert further to measured resource. A criteria of the mineral estimate inputs for a PFS. No surprise there, the extra drilling was anticipated as far back as early august after the completion of phase 2.
Feels like the project has already turned more serious now. Certainly on from avocados and onions when I initially thought, what the hell have I invested in? A copper porphyry play or a game of supermarket sweep? So I for one am looking foreword to a far less speculative year ahead, as the company consolidates and further grows both sides of the business in the coming year. What is clear from current shareholder sentiment though, we need far better transparency, consistency in timing of news releases and professionalism through the PR that’s released going forward so a new influx of investor that will have the confidence to invest as old money gets opportunity to get out. Unless that belief returns and soon. Cue the impending economic mining study. After all, BR is the primary asset in the stable that has the ‘most’ potential to drive up the market cap short/mid term.
Eyes wide open going into the new year, just glad ‘22 is almost over, and hoping the Micky Mouse way of promoting is finally over too! It’s not a joke anymore where people’s hard earned money is at stake. All in still and happy to be.
3cb. You could be right. If so, I'm ready for me final, final and indubitably last top up! That's the Guinness talking; I'll probably be ok in the morning :)
Blimey. I understood it would be a full trading day today. If so, you will have another chance later to top up again even cheaper.
CB is the P.T. Barnum of AIM and I am one of the suckers born every minute. Just contemplating a last top up before 12.30. A shrewd investment or good money after bad? Oh well, only time will tell. Let's hope for good things in 2023. Happy Christmas all.
Lovely poem Andymillsy - I hope you are right at 40p.
At the end of the day, we still have 1.3 MT CuEq in the ground and I expect both copper and gold prices to go up considerably in the medium term. Am down but haven't sold a bean but I take this recent slide as a lesson to take profits when you can.
Anyway, thank you to all contributors who make this one of the best and most informative BBs, and that includes Steve4077, who I believe has been a little unfairly blamed for the sp slide when it was the miss on the (bloated) expectations of a 2 MT Cu target that was really to blame.
Merry Christmas and Happy New Year to all!
Z