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"Seems to be as near to a reasonable comparison as any others we have seen I would think."
Agreed. Possibly the most similar recent sale comparison I've seen?
"Interesting to see methods for the seller to capitalise on additional discoveries. Very applicable to XTRs bushranger."
Agreed. Very, very applicable !
Btw.
By my quick calcs, the additional Gold valuation for that sale only contributes to between 6% and 10% depending if you look at revenue or profit.
So for a more accurate copper v copper comparison, take a max of 10% off that sale - Obviously we may have some Gold valuation in our sale though.
I think you are on the right lines Andrew. Seems to be as near to a reasonable comparison as any others we have seen I would think.
Certainly a lot smaller than BR in terms of tonnages but the deposit is an IOCG so slightly higher grades are reflected. It is proven to part measured/ indicate/ inferred and is at feasibility level to be an open pit with. Planning is subject to detailed plans and finance being sought. It’s accessible by air and road, with water and HVpower line too.
https://cumtn.com/operations/eva-copper-project/overview/
plus a contingent payment of up to a maximum of US$60 million, consisting of up to US$30 million via a 10% sharing of net incremental revenue and up to US$30 million on a new copper resource discovered and declared within the acquired tenements.
Interesting to see methods for the seller to capitalise on additional discoveries. Very applicable to XTRs bushranger.
btw
Happy to be corrected on assumptions and maths.
I may have misunderstood something
Assuming I've got my maths correct:
100Mlbs = 45,350 tonnes Per year
15 years = 0.680M tonnes
If we end -up with 1.36M then that's double
Double of that $170M offer = $340M = £300M circa = 30p buy-out
Obviously that' s an oversimplification and I havnt taken into account Gold production.
But gives a loose indication of possible buy-out.
Obviously if we have more than 1.36M tonnes then...........
What I find odd about Ascot is that it has some cracking grades and then there are large stretches with very little Cu/Au. Rc seems to be more consistent. I guess they all have their own personalities.
In the round, Bushranger remains a very exciting prospect, clearly.
And Africa Gold revenue prospects are very exciting here too, clearly.
And most clearly of all; whatever the bear market, this s/p is too low in 3's p.
A share price re rate imminent, especially by the Bird Gem Dictionary definition of the word imminent, I'd hope..
IMHO &DYOR
It looks like we are starting to find some of the higher copper and gold grades. Still a relatively small amount of holes in such a big target so plenty to come.
Ascot still needs some exploring imo there is tantalising signs of of some really top class porphyry grades.
The jorc will be interesting when it comes out!
Persistent 250K seller is still about ...
Annoying !
If they have enough data for a maiden Mineral Resource (JORC 2012) for the Ascot prospect (which is completely open and only going to keep getting bigger), then we may go over the 2mt of contained Cu Eq target when added to the new Racecourse JORC.
Altogether, a very attractive prospect for any major. Especially so with Footrot now smelling like gold and the additional lure of three neighbouring licences, all exploration virgins, just begging to be drilled by a big boy. Come on... take us.
This is going to fly very soon don’t miss out
>>>Xtract is now incorporating all the geological and geochemical data from the Ascot prospect into a geological model which will be used to estimate a maiden Mineral Resource (JORC 2012) for the Ascot prospect. In tandem with this, a revised resource estimate is in preparation for the Racecourse deposit. This will then be used as the basis for an updated conceptual open pit mining study.<<<
As above, no doubt they are preparing both RC/Ascot models concurrently, the “in tandem”may also suggest both models will maybe, be released at the same time. Then potentially conceptual study to follow on after.
As the decision to mine will now be the option favoured to trigger the AA option, ‘with’ the conceptual study being integral for this. How do folk see this unfolding?
A/ Resource statements released- pit study then released - AA invited to the party
B/ AA approached first once the resource and pit study is complete- then inform market of intent and/or release of resource and pit study after.
Or any other which way?
To me the first right of refusal may offer exclusivity to AA in having access to data prior to market. The uniqueness of the agreement in place has caused so many unknowns and or uncertainties and I think still does. Be interested to know how others think this will unfold.
That really is a significant long zone of mineralisation.
Hole 55 looks as though it fell short of a couple hundred metres as completed at 721m so was unable to test the full target interval below 35.
On the plus side
>>>The intersection in hole BRDD-22-051 of 18m @ 1.8% CuEq from 432m (Zone 3) occurred 170m up dip of the intersection of 64m @ 0.58% CuEq in drill hole BRDD-21-035 suggesting that high grade copper mineralisation does extend closer to surface and potentially within depths which would be amenable to open pit extraction.
As we know RC and Ascot are being looked at as separate entities, this is very significant for Ascot future viability to be mined in the Aussie sunshine alongside RC
Equally.... I cant wait for the resource update. I hope it is indeed imminent now.
I hope that this RNS is just a taster.
One of these coming days Xtract is going to burst into action. The breaks will come off and this i hope will be like a gold rush. All too late for the watchers. Current price is easily supported without Bushranger. Let the watchers watch and the opportunists fill their boots at every opportunity. D day is coming soon. That i do know.
Great RNS - what is wrong with the market - everyone is asleep
Really need to top up big style as this becomes more and more a no brainier
GLA
Those high grade intersections seem to indicate that they are homing in on the source. Another huge porphyry (1km strike and open) with even higher Cu grades than Racecourse and gold to boot (that could even be a separate system?). The Bushranger project is sitting on a beast of a discovery.
Can't wait for the resource estimates, results of the modelling and the 'for sale' sign to officially go up... there is light appearing at the end of the tunnel.
Come on CB- Bring it home. Giddy up
Should be close, it's taken a year.
For me, the most important part of that RNS...
"This will be in addition to the updated Racecourse mineral resource estimate which is close to completion."
Ahh, makes sense, I maxed out my isa at 5p bed and isa, hindsight....
TDoubleu - The 4 trades adding up to £80k aren't all sells but 2 sells and 2 buys... just me and the missus doing a bed and ISA each.
No change.
Some big bets being rolled over. Somebody keen to hold on.
Ask didnt move after those big sells. Stayed at 3.17p