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I understand the story has been spun a little on the model....however.
They can't hide from the fact that the first technical session on Racecourse included the model and assay results received only a couple of weeks earlier.
So, might need a bit more explanation this time if the model STILL isn't ready.
I would say its definitely option C.
But the more pertinent question would be - why is it not finished yet?
Either:
1. Because we are still finding more tonnage and dont want to "give away a cadia" so the model keep getting bigger
or
2. The current model tonnage is significantly lower than CB's implications and comments, so we are doing more drilling which means the model is not finished yet.
I've said before, I don't think we will get the model for sometime.
Maybe, instead of a blockbuster RNS, on Bushranger, before the AGM, we will get the Q2 gold production numbers instead - which should be encouraging by themselves?
I would be inclined to go with your option C Steve
Not expecting the updated resource model for Racecourse until after the Ascot initial model is complete, these are excerpts from recent news release that point to them both being released together. However, from the first one listed below, there is a outside possibility we could see an updated conceptual pit before but I believe unlikely as they may not wish to divulge the tonnages involved until the resource model is released later.
27th july RNS
All results have now been returned from Racecourse which will allow the team to commence the modelling of the Racecourse conceptual open pit and define the contained copper tonnages.
4th Aug
I look forward to a ‘complete’ formal summarisation of all the information generated by Phase Two and informing the market of our on-going strategy."
30th June year report
The phase 2 exploration programme is about to be completed and when we have modelled and evaluated ‘all’ the raw information, we will be well advanced on the value curve and able to position the project in the global market.
Also from year report
Upon the return of all remaining assay results from the Phase Two Drilling Programme at Racecourse and Ascot, a new resource model for both prospects will be developed.
>> I don't believe the excuses for the delay in the model. .... We have 5 days of opertunity for the model, If we don't get it this week, then what does that mean?
A) CB determined to sabotage investors, including his own 46m shares and options
or
B) CB trying to time release for maximum impact
or
C) Not finished yet.
I don't believe the excuses for the delay in the model. They have been working on the model constantly all year, when ever they get some new information it should only take a few days to insert it I to the model. We have 5 days of opertunity for the model, If we don't get it this week, then what does that mean?
While I'm here.....
What are the questions to be asked about the AA contract? Let's get the info once and for all.
Please copy the list and add to it.
1. If we declare 2MT in our own study (not jorc) would that trigger the buy back?
2. If we hit the 2MT with a jorc at racecourse, can we keep drilling the license eg ascot,footrot.
I have more but I'm sure others ha e the same questions.
Please copy and add to the list!!
'Imminently' is at the shorter end of the CB timeline than 'soon to be released' is, I think I'm confident in saying !?
(as in weeks versus months :-))
Towards giving themselves a light entertainment break, perhaps the Einsteins here should construct a BirDictionary on the one and only - Mr - Colin Bird Timelines' ?
I'd hope your high quality analytical orientation sees at least all the below SQUARED included:
Directly, momentarily, presently, shortly, soon, eventually, finally, someday, sometime, sooner or later, ultimately,
forthwith, immediately, promptly, right away, straightaway...
I hope we get some good news to support the current rise or it will be a slow drift down again . At the very least we need the Q2 results as to not issue them when once again we are edging towards the end of the following quarter would hammer CB's credibility. I have to admit to being fed up with the quality of his communication and time scales. I will be screaming inside if he mentions words such as 'imminently' or 'soon to be released' etc...
Got my £3800 worth in the end at 4.4. Looking strong for the rise back to (p and then Boom when the news of a sale lands.
Nice move today, more news to come!
I was interested to see mention of molybdenum:
No test work has been directed specifically at molybdenum recovery. Some nearby mines on the Lachlan Fold Belt are recovering molybdenum and, in one case a new circuit has been installed specifically for recovery of the metal. At Bushranger, molybdenum recovery will be disregarded for the concept study for now but could make a contribution to a future mining operation."
What I really meant to say was I'm fully invested and can't buy any more XTR shares!
Andrew........ 444 shares..... is that your mark? A coded message to us all?
4.5p paid at 11.47 for just 444 shares! Not me I assure you. I'm fully cashed up.
Thanks Steve
There is a single MM at 4.4p (CNKS) and tiny trades around that level. A recent 5k share trade was at 4.41p, so it looks like that MM is effectively preventing buying at the moment. Someone will probably need to put in a best price trade to break through.
40p ? mm, that would buy me a house.
One certainly casn hope and dream !
Just tried buying Circa £4K worth all the way down to £1k worth and nothing doing with Barclays. Short of stock?
One can but hope and dream!
Porv
That was a very poor deramp compared to your other work. Far too transparent.
I'm disappointed in that effort and I know you can do better :)
Bushranger Sale = 40p a share, without a doubt.
'Down with this sort of Thing', Ted
Bushranger has significant potential Full stop
I’m really not sure where you are coming from porv, there have been a very decent range assayed at +/- 0 .3cu. The modelling will take into account these mineralised trends through out the deposit and not just the spot results. You or I have no idea what that modelling shows
Have some faith it’s got to be worth a punt ;-)
http://www.rns-pdf.londonstockexchange.com/rns/9509T_5-2022-7-27.pdf
Charts looking positive again.
Very few on here or all over AIM with the virtue of patience
mostly all looking for the miracle of a quick buck