Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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"I for one would prefer the bow wrapped before Christmas 2024, ideally at 10,500/tonne and 100-150m rather than Christmas 2026 and 200-250m."
I dont think we will be getting anything like that deal as that would be 11p at £100M . If those figures were correct we would be getting an additional 11p if we waited 2 years (extra £100m). I doubt many would not go for the extra 2 years for 22p offer!
But I doubt we would be getting more than additional 4p if we waited (Circa £35m). Thats a lot of extra profit to me as my holding is in teens of millions.
I understand that some would have different views.
"Andrew, I think we are all certain the copper price is going one way"
That's why I wouldnt want CB to sell us short too soon. Yes he hasnt got that long in this game left but we are still getting FB money for another 2 years so he must expect to be around for that time period.
My concern is that we get 3p for BR but if we had waited another 12 to 18 months it would have been double that.
I've been here 10 years so an additional 12 months is fine by me (accept others will disagree)
He'll also hopefully have several copper rich assets that will increase in value as the copper price rises.
I'm with Ben, what with his age and his new focus in Zambia I think he'll be happy to offload a somewhat known quantity and move on to his favourite thing, rainbow chasing.
Andrew, I think we are all certain the copper price is going one way. However the last few years has shown us no one can predict (accurately) the speed that that will happen. Colin and many others have been promising this for years.
Therefore, given Colin's advanced years and the lack of precision in forecasting, would he be prepared to sell BR priced at 10k in the next month or two OR perhaps wait a couple more years or his 80s to get 12-14k and perhaps 50m more in the asking price?
I for one would prefer the bow wrapped before Christmas 2024, ideally at 10,500/tonne and 100-150m rather than Christmas 2026 and 200-250m.
Each to their own of course.
Personally, as mentioned before, I think Colin loves the gravy train: 125k here plus a hefty sum at GLR, BZT and AFP...
I'd hold fire with the bow just yet.
POC very likely to be hitting $12K over next 12 months and $13K to $15K within 2 years
Get the bow out Colin.
Have a read back through the comments Jackbal, that should give you an idea.
That bid is good in that it shows that there is a great and growing hunger for copper assets, bad in as much as there would be one less keen competitive bidder for commercial copper assets, hope it doesn't go through
Even a heads up to market on drilling schedule would get some much needed volume imo Bob.
Approval was given to sell producing asset to explore months ago.
Would some exploratory plans be too much to ask?
I’m bored already, can’t imagine how most of you guys must feel.
Come on Colin, just the news of a truck load sent to a smalter with more to follow could work wonders at the moment.
I cant see if this takeover went ahead it would make any difference to us.
As suggested the deal has been rejected by AA as opportunistic, I suppose with copper prices going up and up they want more! Surely someone will see eventually some value in xtr so we long term sufferers can get our investment back and a little sweetener too. For me it's almost ten years of limbo.
One minor thing I picked up on from one of the other of the group’s podcasts was CB stating they ‘have’ to report on each drill hole under AIM disclosure. I questioned this approach to marketing in an earlier post suggesting a saturated PR drive may be indicative towards a fund raise coming. So that simply may not be the case if reporting on every hole and associated technicals is seen again.
No doubt due to the volatility of AIM stocks with regs in place to protect investors from wild swings in share price.
Https://www.datacenterdynamics.com/en/news/tesla-spent-1bn-on-ai-infrastructure-in-q1-elon-musk-posits-using-cars-as-distributed-compute/
Lack of new supply and the demand is only going to increase. A.I is creating massive new demand and now, not in the future.
" towards a huge bet by BHP on a Copper Bull market for years to come ?!"
Yes agreed.
Not sure if this bid by BHP is in its self good or bad for XTR, but the sentiment behind it does seem to support the thesis that copper demand and price, is only one way in the future.
But is the future the next 6 months or 2 years :) ??
Perhaps Mr Colin Bird believes that BHP head honchos took inspiration from his Sunday Roast Uber Bullish Copper interviews to inspire them to go after merging with Anglo.. towards a huge bet by BHP on a Copper Bull market for years to come ?!
If it ever happens. Highly conditional on AA shareholders agreeing to split the company and keep the crappy bit.
I'm assuming Colin will be in advanced talks with AA now that CU is $10000pt.
Not holding my breath though
BHP have made the bid because they want to beef up their copper exposure, all good for those with copper assets.
Just read BHP and AA merging!
Good or bad for xtr?
Roast PR are using this new ‘preferred’ format with Charles Archer asking the questions to cover each of the companies in the group. Should be Xtr to follow to hopefully start reporting on the new campains particularly with updates on older ones too.
He did one on GLR today and again mentions NW Zambia.
AFP podcast yesterday with Colin and Martyn Churchouse discussing AFP in general but reference the whole group of companies. Western Foreland chat is quite XTR relevant, with a couple of interesting comments, first on their Ongombo project that ‘could be’ a hint at XTR contributing toward financing a small mining operation start up. A reminder he mentioned Ongombo by name at GM as a further project the company are looking at.
Other comment was BHP offering a US$1B to Ivanhoe for their DRC copper project in the western foreland in ‘21.
https://podcasts.google.com?feed=aHR0cHM6Ly9hdWRpb2Jvb20uY29tL2NoYW5uZWxzLzUwNjQ0MzcucnNz&episode=dGFnOmF1ZGlvYm9vbS5jb20sMjAyNC0wNC0xODovcG9zdHMvODQ5MjgyMQ%3D%3D
Worth a listen.
Early estimates after aquisition of the western foreland licenses on direct savings expected to be made from access to Anglo’s historic data pack, were first estimated to be US$1.5M in direct exploration costs during the first Phase 1 of the Joint Venture.
Those estimates are now expected to be a US$3m saving and the historic data is leading towards saving two years in early exploration too.
Sounds promising and can begin to understand now why Tolai of Cooperlemon in the Zambian special podcast had said they ‘expect’ to see results when drilling commenced.
Wouldn’t even like to guess foz
Doubt will get any kind of update until financial model has been reworked from resulting ongoing work.
That is:
Further studies are being undertaken focused on:
-Optimising Plant throughput capacity
-Metallurgical recovery and early stage waste separation
-Rationalisation of proposed CapEx
-Improvement in OpEx following the abovementioned reviews