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Andrew. Thanks for the link. Maybe a new thread title would be better .....
OOOH !!
I'm excited now ! The SH*TTICKET is back !!, that can only mean one thing, it wants a buy in price.
More expert reports on expert reports ion expert reports on expert reports needed.
Wait for the more funding dilution soon to follow.
He is the master of bull.
Not one word about anyone being interested in digging the worlds biggest hole to extract anything ....thats the point.No one is interested.
So glad I departed form XTR at the 6p point.
I feel all your pain.
That's my bad to very bad case scenario, not worst case, Cygnus
I don't do best or worst case scenarios as a rule.. as they're outliers that are rarely relevant to the real world.
I have decent, good and very good case scenarios in mind too .. but will not elaborate on those as many here fire out higher/much higher valuations regularly anyway and so such scenarios have already been done ad infinitum here.
Blimey NicetoMichu, that is a negative view despite the 'worst case' scenario.
I think the joint value of RC & Ascot falls between two stalls. Not big enough for AA to take an interest at this time but big enough to require further investment by XTR.
My view is that this will lead to two possible outcomes.
Both involve a third phase to round out Ascot plus further exploration of Footrot and initial examination of the two anomalies mentioned.
The first option is for XTR to foot the bill for this work via the income from Africa while the second involves a JV with AA who take an interest in the prospect by financing some fraction of the exploration in exchange for a reduced price for the prospect should it be worth their while. That price decided by an independent arbiter.
Just me musing.
My bad to very bad case xtr.l overall valuation in 2023 sees Bushranger deemed non aligned with xtr strategically - eg too big - and even if poc is slow to pick up in 2023 and no more drilling deemed appropriate in early /mid 2023 - eg leave that as carrot for the next owner - then this could readily be sold on to a small mid tier explorer in 2023 for 10m gbp plus.. which roughly equates to 1.25 to 1.5p plus area per share
Mozambique Gold I value at somewhere between 2.5p and 5p, and this valuation becoming clearly visible from monthly revenues from there by earlyish 2023
(Other Africa assets - eureka etc- might have some potential on sale value in the future too but i'll go with zero anyway)
So I see this share at 4p ish as xtr.l bad to very bad case value in 2023.
And even allowing for CB making a mess of expectation management as a rule, I still think this should be 3 p ish now..
So I'm happy to top up anywhere in the 2 to 2.5p area.
I would never have thought that the share price would fall back to my entry price after a series of RNS announcements of successful drilling. But there again most small caps have seen severe price drops in 2022. Bushranger was purchased for £1.25m in 2020. Since then the company has made drilling announcements where all but one or two had successes to report. It also has other valuable projects in Africa. It's market capitalisation is £17m just now. In the village where I live it would not be difficult to find 10 houses worth that amount of money. I suspect Bushranger is worth substantially more than these 10 houses and this has led me to add to my position recently.
I have done my full research and met management so I am patient. I read some of the posts here and many want jam tomorrow - don't we all! But we know that bar Anglo American buying Bushranger there will be no sale until the Autumn of 2023 at the earliest.
being recorded as I type apparently.
CB on the PR recently.
I'll post when I see it published,
So despite CB continuing to repeat that Ascot remains "open ended down-dip and to the south" is Howezap still going to continue speculating about them joining up?
Sell IT!
Hasnt set the SP Alight! Although better up than down, come on XTR!
Fair play CB... and Bushranger is already a decent to good resource in my mind now.. and with lots of potential to add further tonnage too..
Generally, the market valuing Bushranger at nearish zero is farcical imho.. So an easy top up for me now as this share price is far too low for the stable of assetS that xtr.l has.. and more top ups to come for me as we go too.. especially including my strong view that poc is very likely to rise in 2023 and beyond too...
imho & dyor
0.19mt was not far off my 0.2mt est. - Could be argued that that alone pays for the plant? - RC free?!
I wonder what the SP would have done if that RNS was released at 7am for all the "RNS watchers" to see??
Slight rise in shareprice but will it stick
yea, it's not bad and no expectations set this time!
0.19mt was not far off my 0.2mt est.
That is a significant increase IMHO
AND a timeline was met :)
1.3mt now. When will the market wake up to what we have ??
"The combined resource of 225Mt @ 0.33% copper equivalent mineralisation in the shallower parts of Racecourse and Ascot deposits is comparable with many operating deposits around the world, providing the basis for real impetus for the recently commissioned Open Pit Mining Study. These resources could potentially be scheduled for production during the important early years of production, supporting a 9-year mining operation at a projected rate of 25Mtpa"
Pretty much in line with Iceberg's comments...
Now that the maiden Ascot Prospect Mineral Resource has been estimated and the Racecourse Prospect Mineral Resource updated with all the Phase 2 drilling data, Xtract has again contracted independent consultants Optimal Mining Solutions (Pty) Ltd to update the Bushranger Project open pit mining study. The update to the open pit mining study will examine the economics of a 25Mtpa open pit mining operation extracting both the Ascot and Racecourse Mineral Resources. Xtract estimates that the update to the open pit mining study will be completed early in 2023. Following the updating of the open pit mining study, Xtract will determine the optimum way to further advance the Bushranger Project and advise shareholders and the market early in 2023 of the Company's plans for the Project.
Colin Bird, Executive Chairman said: "A 17% increase in the total copper equivalent tonnes to 1.3Mt CuEq with the addition of Ascot is a significant increase in the Bushranger Mineral Resource, particularly when dealing with large tonnage, moderate grade deposits of this nature. The combined resource of 225Mt @ 0.33% copper equivalent mineralisation in the shallower parts of Racecourse and Ascot deposits is comparable with many operating deposits around the world, providing the basis for real impetus for the recently commissioned Open Pit Mining Study. These resources could potentially be scheduled for production during the important early years of production, supporting a 9-year mining operation at a projected rate of 25Mtpa. When we acquired the Project, we had a resource of approximately 300kt copper metal and we have now increased the resource to approximately 1.3Mt of copper equivalent metal. Racecourse remains open to further extension whilst Ascot remains open ended down-dip and to the south, which bodes well for further resource expansion."
Out.
Jezz
What's happened to change you mind then ?
I know what happened..
He wants to buy more @ cheap as chips
1.5p would be a steal so trying to influence the market, just like that Steve character.
Pinocchio you posted on the 7th Dec on this board:
>. Cheap as chips at this level- especially with hard rock Manica about to generate annual income of £5M. How many juniors have that sort of cashlflow locked-in for doing nothing !! ?<
What's happened to change you mind then ?
What a prat.