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It is also nearly 6 weeks since any genuine new news from Bushranger… they must be a stockpile of news re drill holes, assays and the IP survey.
Throw us a bone CB!
Maybe Two RNS’ due soon???
I believe that it stated in the full year accounts that the AGM will be held this month? If so, then we should get a calling notice this week as shareholders have to be given at least 3 weeks notice.
Also, depending on Q2 Alluvial results, we may get these late next week? If they are good or better than good, then they are usually released 2 weeks after the period ends.
If we dont get Q2 results this month then I suspect they will be decent / reasonable at best.
The AGM should be very interesting this month.
>>>Thankfully the prospective buyer will realise that todays POC is not critical .... but the POC in 2030s :)<<
Hi Andrew :-) I have been looking into future copper demand. As we know, It is reckoned that roughly 20% more will be needed by the end of the decade. Some aggregate figures that I have seen show year on year increase of projected demand to be even more than that. The shift in social acceptance is a serious driver toward a greener planet that will see a tipping point and will drive up demand dramatically in the same way that a social world that was defined by horses could not fully anticipate a world defined by automobiles, the increase in the near future of the world’s copper requirements may even exceed current optimistic forecasts. Agree, 2030 prices will be much inflated over all time highs for sure. There is a lot I don’t fully understand but this pull back in commodity prices fuelled by slow economic growth and the fallout from covid will be short to mid term, that is pretty much a given too.
Butler
It may take until September / October with results, before the market realises we are a Gold producer at Manica with FB, as CB seems to want to keep that quiet at the moment :)
Andrew - maybe the market realises that we are now a gold producer. Manica revenue, if it is what we lead to believe, would surely put a floor on the share price?
Bloodbath today in commodities. Surprised we are only 1% down with the big sells.
I guess some dont realise we will not be a producer until 10 years time and the POC then is what counts
Thankfully the prospective buyer will realise that todays POC is not critical .... but the POC in 2030s :)
Copper down 4% AA down 7% today. Maybe we can buy them?
Major Floods in New South wales. Would that not effect progress in our small adfitional drilling program with even more delays. No fault of CB of course.
I think it is perfectly reasonable and logical to believe that informal discussions with AA and others are in progress.
Knowing when to stop is the hallmark of a great artist... so when to stop?
The concern with stopping too soon is that we don't get fair value for Ascot, Footrot and other prospects yet to be even named! But here is where the 80/20 buy back clause could work to our advantage. AA, and any independent expert valuer, are likely to base their 80% value almost exclusively on the deposits with a JORC compliant resource estimate i.e. Racecourse. But that doesn't mean XTR has to do the same when it comes to valuing their remaining 20% stake. XTR can put its' own price tag on that and that can include a premium for deposits that are not measured but strongly indicate the buyer would be getting a Cadiaesque multi-porphyry system. Of course, we need to whet their appetite we some evidence of the potential, but that won't require a 'death by a thousand cuts' exploration programme.
I think we are close to stopping and I am even hopeful that XTR may have already begun informal discussions with AA.
AIMHO.
That location they are drilling in the photo could well be hole 52 for all we know.
Sometimes it’s not what CB actually says in interview, most of which is pre determined and specific, whatever his agenda maybe perceived as being. It’s the odd remarks here and there that give real insight into what they are trying to achieve. Such as the, “if we had found ascot first” comment which to me is a very significant comment in that it strongly indicates (to me anyway) that they will not be proving up Ascot and associated gold systems anymore that what was planned in building some kind of resource there etc. The same can be said of any further porphyry identified.
Or buy more !. I am loathe to do so but there are decent assets (we hope) underpinning current valuations and potentially a big cherry on top with Ascot etc.
>> Colin seems to have announced one strategy to the market via RNS and a definitive timescale in a public interview but he now seems to be following a completely different strategy and timescale. <<
Even though Xtract need to consider and model with a view to the potential and the eventual extraction, their exploration is more focussed on maximising resource potential from a marketing perspective than they would be toward the actual extraction and selling process. Do wonder how differently a major would have progressed with exploration and resource building and what project objectives they would be aiming for?
Just considering CB’s comment that, “if we had found Ascot first, things may have been different.”
To follow up on any anomalous targets identified from the latest geophys lines would be sensible practice and would support proof it is a multi porphyry system, I doubt any further porphyry will be investigated more than a borehole or two within the current project objectives.
Good correction Butlerman, suitably impressed I agree as from my guess the angle of the pylon in the photo would point slightly further south.
Does this not feel like the death of a thousand lashes that Colin himself claimed we would avoid? As PIs all we can do is strap in ( on? ) and wait.
>>Colin seems to have announced one strategy to the market via RNS and a definitive timescale in a public interview but he now seems to be following a completely different strategy and timescale.
Standard MO for Bird....
I guess it’s possible that this photograph is a few months old, and all but the fill-in holes and what Colin said about Footrot etc is just what is left to do now? I agree though, we are being kept in the dark - for whatever reason. My hope is that Colin is playing his cards close to his chest for a a very good reason.
But weren't they just (lol) putting a couple of more more holes in RC to fill in gaps in the model, and maybe a couple in Footrot plus maybe more definition of Ascot. Do we now have a hunt for a new porphyry as well or maybe even a complete tenement general porphyry hunt ? A bit like an Australiian 'Easter egg hunt' but for porphyries and not eggs? All without clarity to share holders about anything at all and actually worse Colin seems to have announced one strategy to the market via RNS and a definitive timescale in a public interview but he now seems to be following a completely different strategy and timescale. Time to come clean Colin.
Howezap - I think the location is : 33°51'48"S 149°42'37"E
With a view to the SE.
Several reasons for this. If you look closely at the picture, there is a hint of a structure, mid way across the picture, in front of the trees, above the white trailer. There is a corresponding structure near the little lake ( to the SE of this pin location, behind the power lines). Also note the lone (quite large) tree directly above the pickup truck. Again this can be seen from this pin location. The forests behind the power lines are also in the right relative locations.
So, slightly south of your suggested location, but nevertheless a considerable step out drill location from the published drill locations. I’m hoping this is good news, as a previous drill intersected a separate mineralisation at depth to the east of Ascot, which I’ve always considered to be evidence of another porphyry. ( I can’t recall which hole this was, but I noted at the time that is was strange to find new mineralisation at near the end of the hole, away from the area they were targeting). Them now drilling at a relatively shallow angle around the same location to the east could be an attempt to intersect this higher up and determine if there is indeed another porphyry. Could be excellent news.
Thanks Iceberg.
Nobody can be 100% certain. But I have always been would say 95% certain that there are other porphyry’s
I think if you took a very large compass , stuck it into the gap between ascot and racecourse and drew a circle with say a 3km radius. We would get a minimum of 4-5 porphyry’s.
It will take a bit of time to explore. The question is whether we will get that time? Will AA or somebody else wait for us to explore it?
Iceberg - I’m convinced that RC will be big enough to attract a reasonable (or good) offer - either from AA or another source, and it’s just a matter of time. We just don’t know the size of RC nor whether there are other porphyries, besides Ascot ( probably). I’d be interested to know if you have a similar view - and that it’s just a matter of both time and quantification of ‘what it is worth’ to a mining Co. So a matter of ‘when’ not ‘if’! Your view would be much appreciated.
On careful examination whilst I was seeing a bloke about a dog, here is my guess taking into account Butlerman suggestion it is further away. I’m fairly sure the pylon in the photo can only be the one to the right of my pin that goes through the two wooded areas. The view is looking east. Still quite a step out.
Dropped pin
https://goo.gl/maps/koEVqorJudp5JaMd6
You have to say XTR were lucky and played a blinder.... considering how cheaply they picked up ProspectOre.... both in terms of money and shares issued.
Howezap if it helps this map from minview shows the power line in a light pink colour running north south to the south of Campbells River Road and then veering North East when it crosses the road
https://drive.google.com/file/d/1GWzje8aJFxt-odcj8dUuyxXzy0tDX8XD/view?usp=sharing