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1000km tunnel conveyors....saves on capex of another mine!
Howezap, I'm surprised you're not already speculating about whether Manica and Kakuyu join up.
You're a name plate poster here too howezap and extremely dedicated to your Bushranger posting.
So even a decent per cent of equivalence re no's of posts on fairbride from you would be much appreciated by me.
Thanks in advance and Nice to Michu
Can offer you some amateurish drivel MtN, or repetitive parsley ;-). (I love that phrase) as I prefer to call it. So don’t get excited it really is pointless forum fodder!
Manica is located in the Odzi-Mutare-Manica Greenstone Belt of Mozambique.
This gives a good aerial view of the fair bride deposit. ?https://www.google.com/maps/place/18%C2%B053'45.4%22S+32%C2%B052'32.9%22E/@-18.8964972,32.8748284,445m/data=!3m1!1e3!4m5!3m4!1s0x0:0x0!8m2!3d-18.895946!4d32.8758033
From there, to the NW about 1000km as the albatross flies is the recent acquisition Kakuyu mine which is 53km NW of Mumbwa town which in turn is ‘only’ a twelve hour drive from Colin’s former kalumbila or as it is now the sentinel mine, surprisingly to the NW again.
It’s almost uncanny…..almost
Thanks Andrew,
Thankfully you have good balance in your perspectives here.. it would be nice if more of the 'name plate' posters - and you're absolutely one of those- on this BB had similar imho
We paid $12.5m for manica and had offer of $17.5m a year later. That offer is not much less than current MC ! And thats with zero value for Bushranger and just £1m additional MC value for FB mine producing income and alluvial income.
What I find strange is that CB's mantra is,
if you want to find elephants then go where they have been found before.
This would be true of manica so why not look under our noses and spend money on more exploration at manica rather than small African high risk projects. Ed slowey our resident geo has said that there is Gold everywhere but different mineralisation (oxides, transition, sulphides)
For clarity, I don't have a problem with more targeted drilling at Bushranger or more exploration at Manica. Its the treasure hunts I don't like as I think our money could be spent in a more efficient way (risk v reward).
https://www.lse.co.uk/rns/XTR/disposal-of-manica-gold-project-for-us175m-e2l0lbeow2nube4.html
on this BB never ceases to amaze me.
Xtr paid 1 to 2m range gbp ? for Bushranger as a speculative EXPLORATION play and there have been many thousands of posts on this BB from guys who have done 'their endless/exhaustive etc research' and are 'very confident'.. etc.. (they're 'exploration' holes .. so 'very confident' is a very subjective thing by definition? )
The equivalent up front spend to take ownership of Mozambique Gold play, with the jewel in the crown being Fairbride was plenty of multiples of that Bush licence acquisition - north of 15 gbp ish from vague memory but v happy to stand corrected -and that for a significant proven gold resource .. which an Operating Party and Empress Royalty have subsequently also invested heavily in too.. and is now in early stage production...... and, relatively speaking, there's barely a peep on the BB re it?
How about some more research from the 'Einstein's' posting here on Fairbride now, please.. and worrying less for a while re what may or may not be down the next EXPLORATION holes at Bushranger, Ascot etc?
PS: Off the back of effectively Fairbride alone, I'm happy to top up at current very lowly xtr s.p. levels.. and have done another top up today.. with more top ups to come as we go from me
Not just armour. Brass is still commonly used in bullet and artillery shell casings. Typically two thirds copper in brass. This is wasted copper as it really isn't that easy to collect and recycle during a war.
The scarcity of copper is often talked about in very near term scenarios. What of the future. All energy will one day be delivered for consumption as electricity (we are not going back to shovelling coal into the furnaces on steam engines to power our trains) and the future promise of limitless fusion power is always going to boil water to drive a turbine to generate electricity. My newly minted niece will likely still be alive in 2120. That is a long way ahead of the copper deficits we are looking at for 2025 or 2030.
plus, sadly, all the weapons of war which have been destroyed and the future drive to replace them and then expand on the inventory. See UKR recovered about 1000 tonnes of Cu from destroyed armour. Not exactly normal kerbside Recycling is it?
Lets see how the POC goes next year.
There's no realistic substitute for copper. Aluminum may have some applications but its conductivity is lower meaning energy gets lost as heat. There is one better conductor than copper but that's silver and with its price just around $24/Oz as we speak it has few applications. The only other possibility is some new alloy but the chances are that that would be even more expensive than Copper.
My only concern is that if the price of copper goes to the sort of price I'd like to see then every village hall is going to have its copper pipes torn out by thieves. I suppose one solution there is replace those with plastic or steel! There you go, just found one substitution....
I have 1990 740 Volvo and a 2000 s80 Volvo. Soz. Off topic!
'Ok so greens here to stay but electric cars at 30/40k are too expensive for the average Joe' - yea, but hardly anyone buys a car new these days, most rent/lease.
Me?! - I spend my money on bikes and drive around in an old van :)
Hydrogen will be best placed for HGV, trains and large ships....possibly planes too.
Batteries are currently just to bulky and heavy.
Hydrogen fuel cell vehicles are still driven by electric motors. They still require predominantly more copper than pet/diesel cars, but with only a small battery pack opposed to an EV, it would tend to be the battery metals that would see reduced demand.
Copper is king however you look at it.
Ok so greens here to stay but electric cars at 30/40k are too expensive for the average Joe. Auto sales will slow with copper at 15,000 if its ever acheived and open up the chances of hydrogen catching on. Theres China/serious covid, Ukraine etc. COLIN JUST ENSURE AA BUYOUT. Dont bite the hand that feeds.
There is a different scenario that could play out in terms of what will happen next. This posted by steve4077 after AGM. Sorry it’s a copy paste but certainly worth repeating while on the subject and considering Steve’s past as a respected poster and that the content of his findings were not contested at the time by any other attendees.
RE: Details of buy back
24 Aug 2022 09:56
I asked quite a few questions on the strategy. In principle it seems to be:??1) Announce RC decision to mine based on 500mt (ish) using a model with a copper price in the region of $8500. Total contained not specified but we can probably assume around 1.5mt. The intention seems to be to get the AA decision out of the way early. Colin expects copper price to reach 15,000, so (reading between the lines) it seems to me they want to announce this model while we are below 2mt and the copper price is low in order to get a 'no' from Anglo. I asked if getting Anglo out of the way could backfire as it removes the shield of that agreement and allows a lowball bid for the company. Colin stated that junior miners don't suffer hostile takeover attempts. The only example he could think of was SOLG and that was due to conflict within the company.??2) Phase 3 will follow the above (which is interesting as they assume there will be a phase 3) and will cover more definition on RC higher grade area to improve the IRR, further drilling at Ascot and NW of RC, which they now seem to think is actually open again. This will happen sequentially, not all at once.??3) Start talking to various majors who are more likely interested because they already have a presence in the area (Newcrest?). Again reading between the lines, it sounds like informal contacts may have already happened. Colin made it clear that when a deal happens, it can happen quickly.??Based on the above, the 2mt seems to be a moot point because it will become irrelevant once AA reject (or accept) the decision to mine trigger. This seems to be a coherent strategy with defined steps. It could be a relatively quick deal if Anglo trigger the buyback on the decision to mine, or maybe 6-12 months for a different buyer. Colin made it clear there would be no JV. Whether people will be happy with that strategy will depend on their time horizon and prior expectations…….
I agree Mattyashy, it must be saleable as is. Say 10p/12p. I'd be more than happy with that. That leaves us with FB etc. Who else agrees? Are you out there Colin. I was originally a 15p guy.
"I suspect you will probably be right about Feb/March and that they will sit on it until they have the FB income to fund next steps at Bushranger"
Another determining factor of release time could be POC. I don't think they will want to release it if POC has gone down below the economic POC or has taken a recent dive. They may want to wait until POC is at a certain level or at least after a decent rise in POC??
Copynpasta doing the rounds ?
CB is spread to thinly over his 4 (maybe more?) AIM companies
Together they must give him a decent salary- 200 or 300k- tax free in UAE
But even within the individual companies- they are spread to thin. Companies with a small cap and having several projects- the majority of which move sideways or forwards at the pace of a geriatric snail. WHen one project stalls, he moves to another. When you havent added value to the first project- you just dilute dilute and dilute which is why the SP of every CB 'company' has crashed under his tenure.
Its like 'keepie uppie'. Goal is to not let the ball touch the ground. The longer he keeps the ball up, the longer cash flows from private investors--> which funds his hippophilic UAE lifestyle. Touching the ground would be the reality.
Say what you may- but the cold hard objective facts are as follow-
Colin Bird’s AIM record, as of mid Dec 22:
Time he became CEO of BZT- SP 0.5….now 0.08
Time he became CEO of XTR- SP 10...now 1.9
Time he became CEO of Galileo 7.38...now 1.4
Now look at how much has been transferred to him via salaries and other perks over the same timeframe. There is only one winner in this game...
The danger is watching out of the ramp followed by a short term positive run, followed by a placing.
XTR could easily go back to its bottom of circa 1.5.
CB is really struggling to find a decent ramp that will allow him to do one of his placings which fund his lifestyle in UAE
Colin Bird’s AIM record, as of mid Dec 22:
Time he became CEO of BZT- SP 0.5….now 0.08
Time he became CEO of XTR- SP 10...now 1.9
Time he became CEO of Galileo 7.38...now 1.4
Well there will always be those with their heads in the sand..but objectively, the answer is NO
Have a look back at the history of failed targets and promises in each of his companies
Colin Bird’s AIM record, as of mid Dec 22:
Time he became CEO of BZT- SP 0.5….now 0.08
Time he became CEO of XTR- SP 10...now 1.9
Time he became CEO of Galileo 7.38...now 1.4
I mean, why wouldnt you if you could?
CB has done very well [for HIMSELF] from his AIM 'businesses'
But you can see how the tide has turned- investors very wary of his class ramp-then-dilute strategy. Recent RNS like yesterdays just gets met with ambivalence.
What is it they say- you cant trick all the people all the time?
-----
Colin Bird’s AIM record, as of November 22:
Time he became CEO of BZT- SP 0.5….now 0.08
Time he became CEO of XTR- SP 10...now 1.9
Time he became CEO of Galileo 7.38...now 1.4
That should read... I still didn't have a sale until Q4 2023.
Andrew - I almost posted something similar yesterday but decided against it. My timelines were a bit more optimistic but I still didn't have a sale in Q4 2023.
I must admit to feeling a bit frustrated at the 'early 2023' timeline given in the RNS for the new modelling. I note that after the Racecourse JORC there was a CB interview on 29th Nov where he said the resource model had already gone off to the modellers. OK, so they needed Ascot too (which they now have) but how long should it take? It was actually less than a month from the last Phase 1 assay result being reported, to the release of the first model study - shouldn't it be a similar timeline? But, given the 'early 2023' timeline, I suspect you will probably be right about Feb/March and that they will sit on it until they have the FB income to fund next steps at Bushranger.
Into the bottom draw it goes.