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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.
Yesterday Zak today Roast with apparently different messages! Where to tomorrow?
It has been raised already today so there must now be a serious question of trust in Colin Bird.
Looking at todays trades a lot of holders are no longer holders!
We must now be in FB MC value.
These sellers have not priced in FB income which is expected before end of the year.
They may well get caught out??
Hi howezap - Unfortunately CB's words of reassurance don't seem to have reassured!
If he has been keeping some good news in his back pocket for a rainy day then now is the time to get it out... it's f#'king ****ing it down out here!
Thanks
One thing for certain & that is CB, is not suffering, as a shareholder. All shares bought have been paid for through salary received from Xtr & any freebies, his had.
Starting to hurt at this level... 2.7p mmmm how far will this go?!?!!?
One thing that annoyed me about intereview was thje part where Colin tried to align himself with "those people who are hurting financially ATM" Poor old boy, living as a tax exile in Dubai on several Directors salaries must be a terrible life.
"I'm a shareholder meself" He's also drawing a wage from the company, something the rest of us shareholders aren't getting. It's alright recycling you wages into shares but what if you have to buy them in cold blood ? Please don't try to make out you are feeling the pinch Colin, it doesn't wash.
>> was there not a poster who had talked on one of the podcasts by the Sunday team?
Andy mills (Andmillsy)
Hi Stevem I’m sure what he meant with the decision to mine had been made comment was more to reassure shareholders that they will not be pursuing the 2mt with more drilling.
btw You were right all along in your interpretation of the 2mt could be made up of dribs and drabs across the ‘whole’ of the licence. With that 2mt threshold being just a number plucked out of the air for one of the options.
Jeez the amount of discussion on the depth of the agreements T’s&C’s we all had, when it was simply, what it said in all its simplicity.
Hey ho
The market is reacting badly to the "We have made a decision to mine but well actually no we haven't". This is being seen as a Colin Bird classic can kicking due to him having no plan of what is now possible with Bushranger. He alludes to not being sure what to do in the interview.
If possible the thoughts that have been put out on bb by A4444, SteveM & few others can be forwarded on to CB, also the SundayRoast team.
Not sure if remember rightly, but was there not a poster who had talked on one of the podcasts by the Sunday team?
ANY jam today, not maybe some tomorrow.
Re. So now that we have an idea what's in Racecourse, what is everyone's prediction on sp upon sale? 10p/15p...?
How's bout we all just piiss in the wind instead. Just as scientific
I don't think it was a good move to try and gaslight the market/shareholders by blaming the negative reaction on their lack of understanding.
It also wasn't helpful to say the decision to mine has been taken and to then have to admit they are not in a position to formally declare a decision to mine to AA. He needs to clearly set out the steps that are needed before a formal decision to mine can be declared and provide some timelines that can be reported against.
I also concur with Andrew444... any future projects must surely be financed by existing projects delivering a ROI. And, ideally, he needs to give us a ROI from the sale of Bushranger before taking on any new projects. We need some jam today, not more jam tomorrow.
So now that we have an idea what's in Racecourse, what is everyone's prediction on sp upon sale? 10p/15p...?
NtM
I'm expecting 0.2m from Ascot so that 1.3m. A very big discovery but even taking into account the "CB factor" its nowhere near his 2mt comment.
I wonder where the SP would be now if CB had been talking of a massive resource between say 1 and 1.5mt and we had announced 1.1mt with 0.2mt from ascot ??
It looks like you ar4e not alone with those sentiments.
This was my most long running share, I have made a small profit in it but decided to sell up yesterday. My reasons
1. I have lost confodence with Colin Bird, and cant trust anything he says
2. I can make a bit of profit in other dividend producing shares.
I will continue to monitor Xtract and may buy back in (a much smaller amount than previously) if I see any further weakness.
Good Luck everyone !
Part of what CB originally assumed to be 'Racecourse' subsequently became 'Ascot', let's not forget. Therefore some might say the cumulative of those two together should be taken as a fair comparison versus 2mt.. so, when Ascot is announced too, if we get to 1.3 or 1.4mt copper- and some gold too - cumulatively that would be a decently less damning for eg