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I stand by what I said. Better to get good or bad news at 7am rather than out of the blue in the middle of the day.
LW
Just for clarity, I wasnt recommending that they should sell, or even buy
Its up to SH to come to their own conclusion on what they should do but obviously if anyone thinks SP is going to keep going down then they know what to do.
BTW Since that big sell, the ASK has gone up :)
The Bushranger project does have 'scattered' resource targets but that isn't a bad thing.
Go a bit further along the Lachlan Belt and take a look at the 'scattered' resource at Cadia. The operation started there with an open pit at Cadia Hill and later two underground mines were added. And they are still exploring and still expanding after 30 years.
The announcement that Racecourse contains 1.1mt of copper is only a disappointment because we had been led to believe there was more. However, the open pit being proposed is a very similar size to the one at Cadia Hill and the resource estimates aren't that different either - Cadia Hill (more gold than copper) had an estimated 6.8m ounces of gold and 0.5mt of copper (at 0.16%) when they started digging.
I still think the Bushranger discovery/project can be commercialised but we obviously need the modelling to confirm that. Which is why I can't understand why CB would release this resource estimate without waiting for the modelling to prove it can be commercialised and is sellable? Knowing it is commercial and a sale likely, would have softened the blow of finding out we weren't going to get as much as we hoped) for it. Investors would have held tight and the SP would have gone up as others tried to get in on the action. Instead, we have a breakdown of trust, fleeing investors and a crashing SP. I think we can all agree, this has been a PR disaster... with the "acquisition mode" announcement today the icing on bloody cake.
A4444 that 14:21 trade marked as a buy was probably a sell going by the time and price so it looks as if your "sell now before you lose more money" was taken. Thats a big offload.
Later next year not this year
ZM
I believe a major will want to buy Bushranger and the 1.1 mt resource later in year esp after POC increases.
We have 0.6mt at 0.3% Cu near surface. I think that is worth £50M at least on ts own
As I say, I may be completely wrong but that's my judgment call. If others think this is going to keep going down and there is no chance of recovery (they may be right) then they should sell now before they lose anymore money.
A4444 good to know. But what could be the trigger for a 4 bag rerate?
Looking at where we are today I would suggest that it would have to be a complete curveball, out of the blue, new information.
Shareholders' interests have not been looked after here. That interview with Zak was a stuttering mess and the roast interview was preparing us for putting Bushranger on hold I think. It looks like the market has decided shareholders have been done here.
Having been critical of Colin in the past I have only myself to blame for this latest disappointment but honestly believed it would be different this time. I never thought though that hope could be shattered as badly as this. I was getting some stick for suggesting we would be lucky to see 10p... if only.
ZM
I don't know any info that has not been discussed publicly.
Like everyone else, my opinion is based on what I believe and research I've done.
I assume, that the 98% of holders who have not sold think the same way as me :)
A4444 ... do you know, or think you know, information that has not been discussed publicly?
Sorry I meant by end of next year!
Apologies
4 bag within about 5 weeks? Absolute nonsense.
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.