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If you're reading this CB.
Take Note !!
Flipper:
Don't get me wrong, I can see the economy of a merger but I'd be concerned how the combined shareholding would be distributed amongt existing shareholders.
The companies would have to be valued comprehensively and shares awarded to existing holders accordingly.
I don't think CB would take one salary though, he'd want a combined salary of what he's already getting from the individual companies.
Done properly and with a single CEO it could be a good thing.
Now that is a good idea - a merger that is !! It would also make the larger merged entity a more attractive take-over prospect with licences right in the area where everyone wants to be.
Thankyou for a decent reply flipper.
When I read the AFP RNS I admit XTR first came to my mind !. But I dont think a freudian slip, probably just "auto correct". Also not sure why this narrative about GLR being skint - it has been lending XTR money not vice versa. It has plenty of incoming cash in April plus shares of Afrimat and Sandfire which it can sell.
But on a more serious note, I would have thought it would make sense to merge AFP, GLR and XTR into one company. The same geologists are involved with GLR and XTR and costs could be cut.
Fat fingers Irish. What's up with you today? The misses not sorting you. You seem to have got out of the wrong side of the bed. My question was genuine. Have fun
'my' or 'me' ? I think you must be the typist !!
No danger to my. I'm not the typist.
You are in danger of creating of a false market- albeit without intention. It makes it clear that XRT is a process. The mention of XTR is clearly a typo. Read the whole article and enjoy
It reads like XTR is process.
If it means a company it would infer that my observations are correct about combining all three companies in this venture.
It would make sense, imagine if you had three companies and had a mind set that they were actually yours to do what you want instead having any shareholders. Two of them are skint and need money to proceed but one of them has just done a deal selling the family silver that means it's going to get a drip feed of cash for 3 years that could finance the others without dilution. The problem with that is the shareholders of the company with the cash coming in aren't shareholders of the one's benefitting from the cash. But don't worry we'll lend it to them at a very favourable rate and call it business and we'll get a percentage of the businesses in lieu of actual cash repayments.
And hey presto all the companys get to stay solvent and the guy who runs them get three salaries for a bit longer.......
You couldn't make it up could you ?
Gross representing 100% MRE and African Pioneer has 85% interest in the Project
Not sure why Colin mentions XTR in an African Pioneer RNS....??
Colin Bird Executive Chairman commented "We have made good progress on the Ongombo Project with very significant increases to the previous 'Indicated' and 'Inferred' Mineral Resources and the potential for a 'starter' mine using low-cost open-pit methods. We plan to combine XTR with laser dry sorting technology to separate ore from waste and generate a high-grade concentrate for transport to an in-country processing plant for final separation before metal recovery. We are now sequencing the primary development infrastructure and the process flowsheet. As we advance towards the completion of the ESIA we expect to soon be in a position to move towards project implementation and the completion of development financing."
Colin Bird Executive Chairman commented "We have made good progress on the Ongombo Project with very significant increases to the previous 'Indicated' and 'Inferred' Mineral Resources and the potential for a 'starter' mine using low-cost open-pit methods. We plan to combine XTR with laser dry sorting technology to separate ore from waste and generate a high-grade concentrate for transport to an in-country processing plant for final separation before metal recovery. We are now sequencing the primary development infrastructure and the process flowsheet. As we advance towards the completion of the ESIA we expect to soon be in a position to move towards project implementation and the completion of development financing."
Thanks analytical - those maps are very encouraging for the xtr Zambia licenses , interesting that Ivanhoe took a chunk of Angola to the west as well. Rio and Anglo in the mix as well
Https://www.mining.com/gates-bezos-backed-kobold-says-zambia-copper-find-largest-in-a-century/
As I have long suspected and even written here a while back, when you look at those licences you can clearly see CB is taking the opportunity to buy licences next door to his other companies licences with XTR money.
They can't buy them because they are both on their arze financially. So it follows that their lack of success and consequent tumble in SP will become ours over the next three years of spending our money.
I do think it's bizarre that almost every single building material has gone up in price specially since the start of the pandemic and metal is still stuck in the same range as before.
Almost as if inflation doesn't affect metals. Or, god forbid, someone was controlling the market...
Copper needs to hit $6.26lb just to be worth the same value once you take into account inflation adjustment alone since the $4.62lb high of 2011. That is without any of the expected demand needs that copper is central to, for the world to decarbonise and reach net zero.
$4-$5.lb is well within reach.
>>>With no covid, no fall in POC, no change in economic conditions, no war the sp would still have fallen as reality and results was seen to be nothing like CBs comments and predictions. .
The above has increased interest rates, fuel and power costs, labour, construction. Just about every aspect that has increased CapEx and Op costs that have had a profound negative effect on the updated economic study.
Typo.. utter boll ox
re "br was more or less on track until the economic fall out from covid and global recession hit"
utter ******. 10000+ per ton would have taken br from a very good prospect to a brilliant one. it's nothing to do with covid/recession and all about the bullshiite spun by birdie about size and grades.
I didn't manage to make it to the AGM '23 version. I would like to know why CB's outlandish forward looking statements were not put to him at the last AGM.
I made it to AGM '22 but there was no definitive answer at this point that he was wrong.
He must be held accountable at the upcoming meeting. Why should anyone believe him? He must prove to us a strategy that will convince those who have been burned (IE. With averages 5p upwards).
HZ
You do seem to try and find any excuse to defend CB !
Yes, POC did fall around the proposed sale time but that is not the main reason for the sp collapse. Maybe 20% of the reason. Many of CB's failed predictions or "statements of fact" had nothing to do with the economic conditions ie
We know we have the grades and I'm not worried about the grades
We were biting our nails re 2mt but now with Ascot find we dont have to.
This is a tier 1 asset
His predictions / comments did not meet reality. If POC was still at April2022 high levels before the fall, Bushranger would offer virtually zero profit. CB was talking about $8K to $8.5K POC as being the brake even point in the interviews
With no covid, no fall in POC, no change in economic conditions, no war the sp would still have fallen as reality and results was seen to be nothing like CBs comments and predictions. .
With better economic conditions and no fall in POC, we may have fallen to 2p not 1p
Not being critical of your post btw Andrew was more of a ‘let’s not forget’.
>>>If you can't trust a word the CEO says then it doesnt give you much confidence in him delivering.
BR was more or less on track until the economic fall out from Covid and global recession hit.
Think where the price of copper particularly, could be now if it were not for the crash. The reasons that many consider as to why the share price trajectory has been on a downward spiral to where it sits now, has seriously been amplified by the economic climate.
''We know we have the grades and I'm not worried about the grades....This wont be a death my a thousand lashes (re sale)...Looking to make a sale in a few months...If they offer me 10p I'll tell em they can stick it....We were biting our nails re 2mt but now with Ascot find we dont have to.....This is a tier 1 asset''
I'm wondering if Mr Colin Bird was talking about his favourite racehorse all along?
For me its not so much criticism of CB's exploration strategy, but the BS he came out with re Bushranger. and now lack of trust in what he says
Remember what he said re Bushranger:
We know we have the grades and I'm not worried about the grades
This wont be a death my a thousand lashes (re sale)
Looking to make a sale in a few months
If they offer me 10p I'll tell em they can stick it
We were biting our nails re 2mt but now with Ascot find we dont have to.
This is a tier 1 asset
etc
Many didnt sell at 6p as CB had given all of us great confidence that it was going much higher after the imminent sale.
If you can't trust a word the CEO says then it doesnt give you much confidence in him delivering.
That doesnt mean to say he wont deliver though