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Gixxer
I'm not trying to be stoic but trying to strip out the emotion and just look at the fundamentals. CB's ramps and overly optimistic comments make that harder!
My analysis and judgement is that this will at least 4 bag by end of the year based on what I know ...or what I think I know :)
Of course I may be wrong.
Have to say A4444, your general stoicism on here is a thing to behold. You have more shares than me so I have an idea of what highs you're down from, and what you had to average down to!
Me, I just went for a run till my HR hit 184 - Not the best at 51!
Sells were about 66% of trades yesterday (8.1m) and about 63% today (6.3m). This is based on level 2. So total shares sold over those two days was about 1.7% of shares held. Just under 8m shares have been bought in the same period.
Hostile takeover at a low shareprice? Are we on the same planet? 3% of shares traded (mostly sold) over the past 2 days drops the shareprice 20%...... if some started buying 51%......... wtf do you think the shareprice would do?
Dibs
I know from having discussions with you in the past that you are decent poster but I respectfully disagree with you.
The market is down because of the sells but that doesnt mean holders are right to sell. The fundamentals are not linked to the SP (esp on Aim) as there are idiots who buy when they should be selling and visa versa.
Yesterday 1% of the total shareholders sold and today it will be about the same so 98% have not sold.
I'm not too sure why you said the resource is scattered as Ascot and RC are very near each other and only play a small part of Bushranger.
If this isnt for you then fair enough. Good luck in whatever you decide to invest in
single pit or is it the pits
Scattered resource.... lol...I love it when a deramper adds in a comment that looks like they are holding the baby the wrong way up.
The last thing you could call Racecourse is scattered...... it is literally a single pit..... doh!
I've been here since Jan Nelson days, when XTR was being ramped as the AIM darling of late 2014 - early 15.
Still waiting... to stubborn to sell...
That's reassuring Dibs, thanks
Andrew4444 - the only people being ‘caught out’ here are stubborn shareholders who cannot see the wood for the trees. Look at the SP. The market has delivered its verdict. You have a chairman who cannot be trusted. That is the reality. Time to take your head out of the sand.
The notion that they are going to mine this scattered resource is laughable.
Remember when we'd tried to get rid of him some years back? - Can we try again please?!
I feel Quentin would slip nicely into the CEO role.....
JS - Looking is OK... touching is bad. He needs to earn new projects by delivering a Bushranger sale.
"We are in acquisition mode with small deposits in Zambia" - Seriously lost his mind if he thinks shareholders want this currently!!!
Having stuttered his way through Zac's interview, no doubt a bit shocked by the SH response (Although eh should have fully expected it), Bird seemed to have prepared this morning and had been on the offensive however, Like others have stated, quite disingenuous/disrespectful to SH knowledge. Seems there is a long to go to a sale...
"We are in acquisition mode with small deposits in Zambia" - I get the feeling they already know that RC is not viable currently so will have to sit on it for some time. As i've mentioned a few times this is Bird's MO when he fecks up - Go and buy another project. The trouble is, as he's done before he will lack DD and we'll end up with another dog.
FFS Colin just stop fecking about, stop the misdirection. You shouldn't even be thinking about new acquisitions get this thing sold in the near term and get some respect back!
As for him 'feeling the pinch' What a fecking joker!
FWIW - i'm in the middle of a long email to the FCA - Detailing all his BS in presentations to shareholders BR/ Zambia etc. I doubt it will come to much but it's quite cathartic.
Yes I hope Colin has some magic he could cunger up sharpish as it’s affecting his other companies in confidence he needs to pull a rabbit out of the hat quickly as credibility is soon lost after what he has been saying for the last year .
Colin, don't be so emotional when called out!!
Great! that we have a 1.1mt inferred and indicated resource that has a nice accessible shallow pit-able aspect to it and dare i say may join up with deeper Ascot gold rich mineralisation (block cave-able) but lets not ignore the stated sales talk from last year.
You sold it as 2 Million Tonnes, with later after the fundraisings, a subtle hint to DTM as concurrrent
'The Purpose of phase 2 is to address that 2mt of contained copper' ... 'That magical 2mt of contained copper that triggers the Anglo option' ... 'It's not in the requirement ( Footrot ) to get to the 2mt, that's Racecourse itself'
https://www.share-talk.com/colin-bird-executive-chairman-of-xtract-resources-xtr-l-interview-2/
https://www.lse.co.uk/rns/XTR/placing-to-fund-bushranger-phase-2-drilling-w8dwibnfu9za0ii.html
RNS 19th April 2021:
Highlights
· Placing to raise £5,500,000 (before expenses)
· Contracting 2 drill rigs for an accelerated six-month, 20,000 metre drilling programme at Bushranger
· Planned recruitment of a quality exploration team and site expansion at Bushranger
· Objective of drilling is a potential 2 million tonne copper target
“This fund raise has been implemented on the back the excellent results of the Phase One drilling programme at Bushranger. The Company’s intent is to accelerate exploration activities with an objective to target the 2 million tonnes of contained copper resource necessary to trigger a major company 80% buyout option.
I'm still fully invested here so do you're best but cut the BS! Please.
LS
DYOR
Well he's just gone on record to say that they are looking at further acquisitions.
I think it is fair to say there is little/no investor appetite for embarking on any other treasure hunts before the Bushranger project is done. He needs to settle very jangled investor nerves by going on record that there will be no new projects or raises until Bushranger is done.
Going by his other companies, l would expect XTR shares to be issued. But that dilutes the eventual value of BR. Also being invested in his other Zambian offsprings, not sure why l want more !.
There is a real danger here that a drop in the share price to trigger a hostile takeover with what we have at say 15 million with 1.1 million tones of contained copper it wouldn’t be hard to hoover up the shares on the cheap and end up with a potential viable mine .
Remember earlier this year CB saying something along the lines of "we were all biting our nails over will it or won't it be 2MT, but the discovery of Ascot has now given us a lot of relief".
I wonder if CBs comment
"We are in acquisition mode with small deposits in Zambia"
Is the main reason for the drop today. Bushranger news was obviously known about and he said nothing new in that interview re Bushranger
Either that's a placing or at best, its another treasure hunt in Africa using FB income.
I think most just want Bushranger sold and we all move on.
I didn't buy in for a drink in 2024, I was led to believe it was going to be a year ago, then 9 months ago, then 3 months ago, now its 3 -6 months in the future. For half the money.
Meanwhile I have expenses that my investments pay for, is this one ever going to contribute or just go back to under a penny where this story started ?
If that happens CB's reputation will be irreparable
I know we will have the tough guy thick skinned mountain men of investing here soon telling me to stop whining, I've bought my right to moan so don't bother, we all know it's just a feeble attempt to shore up the SP.
The interview guides us to expecting Zambia acquisitions. The previous Zambia acquisitions have not added shareholder value so the market probably assumes the FB income will be used to that effect.
The FB income should provide some support to the shareprice. The problem is how will it be spent. A nice dividend would be good. Then sell BR when the copper price goes up, say 2024. But it won't happen.