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LSE bingo is back I see.
'Green filters - must mean good news coming'
'More buys than sells'
'market manipulation'
'Tree shake'
At this price I may be forced to buy more !
Change of subject -
As there is clearly going to be a delay to the original date of June to sell up, albeit a welcome one as it will eventually result in added value, I'm wondering why the IP results have not been published. Also, the Empress Royalty mining progress. I'd imaging CB would be very eager to announce to the world that Africa is now making real progress.
Lastly, I have mentioned molybdenum a couple of time is the last 6 months or so and was interested to see CB did so himself in the last RNS when referring to Ascot but without any grades. I'm wondering if this is because Mo grades are typically very low and that to publish them would give the impression that they are very poor when in fact they are acceptable. Gold plus Mo in Ascot could be very profitable with Mo being valued at about 4 x that of Cu. Odd that Cu seems to almost be absent from Ascot but then that's why it was clearly a new system.
And now 525k in two buys (outweighing all sells so far - entire volume was only 550k) and we are still well down on the day. Straightforward market manipulation.
Lot's of green boxes today, usually means some good news coming, coupled with a drop based on nothing much at all.
Tree shake, very funny Steve.
In fact, given the volume it looks a lot more like a tree shake ahead of good news.
Opinion
The 3.50's are now inevitable..
Sell and buy back cheaper, GL all.
There is no stampede - total volume is 553k traded - or 1 share in every 1500. MMs are taking it down on extremely minimal volume.
Seems to be s bit of a stampede for the exit today. Surely the expected news can't be that bad? Hope it's just a case of the herd instinct. We need positive news CB and the sooner the better. This evening would be good!
Gixer, what's this rerate word you use ? I am unfamiliar with it ;)
Rick what's wrong? (apart from the obvious) let it go, reply to him where he posted it doesn't make any sense replying to what someone said across a completely different sub forum, it's bizzare.
@Rick123
I think £0.50 is a bit optimistic. Maybe somewhere in the region of £0.20 to £0.40?
MMs taking it down on incredibly low volume. 180k shares traded so far.
Topped up at 4.70p but shows as a sell. Guess some of the other trades at 4.7 could be buys too.
@DrAim
Collect you deranged deramping rubbish mate
The 0.50's are now inevitable...
well done on finishing the building work, mine are dragging on, expensive times, had hoped that I would be able to cover the last part via selling off 20% at around 8-9p but looks unlikely now, extra hours working it is then... :-(
I think I suggested ages ago the re-rate would occur in September ...... I just got the year wrong!
LGM are at the Sydney Gold conference. XTR still get a mention so perhaps a little bit of publicity
https://wcsecure.weblink.com.au/clients/legacyminerals/headline.aspx?headlineid=21379308
I think most expected the rerate to have happened by now CB
..... with copper being the Apex commodity due to electrification revolution..... its the one that is needed in all from production/generation/transmission/storage/end user(eg EVs).
We are in the right space to take advantage imo
I have finally finished bleeding XTR shares for cash to pay builder, (1.5 million sold since January), only retention to go and that will come from wages. Still holding around 6.5m XTR, with no intention of selling any, it really would have been nice had a rerate happened sooner, very poor timing on my part, but it is done
I agree with a lot what you say Shorn.
Gold will do well, but that’s because the real yield will be negative for some time as inflation will be higher than interest achievable. So people turn to Gold as a store of wealth – which inturn ends up as a much better investment than just “preserve my wealth” due to the high demand.
Central banks are stuck between a rock and a hard place imho. They know they need to increase interest rates to reduce inflation and meet their inflation targets, buts they also know the economy of their own country is not in great shape to deal with higher rates. There is also the elephant in the room of massive government debt, certainly in US, which can only be serviced by low interest rates - so another reason why interest rates may not rise as much as they should.
Although Gold will do very well, I think Silver will also do well along with commodities in general. Copper and EV metals will have the added boost of higher demand due to Green agenda and EV revolution. Could be mid “1970s lite” situation (but not as extreme) where inflation went very high and commodity prices also increased at the same time.
In short, commodities will be the place to be for next 2 to 4 years….until they mean revert and the inevitable correction comes.
Well, that’s my take anyway.
theiceberg
Not sure i totally agree with your view on economics with respect to inflation, interest rates, and gold.
My view is that equities generally have a ways to go yet (further main stream drops) we have asset inflation on the back of QE money finally hitting peoples pockets, followed by labour inflation.
I believe the markets "still" think inflation is temporary and for me where i differ to you, is that the bond market needs to wake up and realise that that bonds no longer represent the best hedge against inflation. Therefore i believe gold will start increasing later this year and into 2023 and beyond, when the housing market cools / falls, savers and the holders of bonds decide to follow gold as the hedge, the rise in gold could be very significant and i believe it will not fall significantly from this level.
Due to the western world combined national debts, we are facing a 10-15 year era of wealth distribution (financial repression) and as such most western governments will keep interest rates relatively low compared to nominal GDP to reduce the debt to GDP burden using the effects of the very same inflation they don't want to reduce, all the while re-distributing wealth. The economy will run "hot" for quite a while, for this purpose.
Historically, in the early stages of inflation commodities fare well, though later they fall victim to inflation too.
For anybody interested in the limited upside of inflation through time - unlike other recessions i believe BoJo (or replacement) will introduce a massive government investment scheme (like Biden's) - target areas will be things like: chemicals & steel (reversing globalisation), building, energy security (north sea et al), green movement... - let's call it the old economy + going green...
XTR is obviously an explorer with an unrealised as yet asset value in BR. So tends to fall outside of the early effects of inflation.
Sorry for going quite aways of topic but i think folks are waiting here for near term results here (quite right too) but suffering the wider effects of the markets adjusting to the effects of inflation as it takes hold...
IMO ATB Shorn
hzap, a quick search of the zambia mining cadastre shows 5 more concessions , not including eureka, kalengwa or chongwe . https://portals.landfolio.com/zambia/
So chances are then the income will not necessarily factor in any way alongside audited report then.
Anyone hoping to attend AGM?
What are the key points we could hope to get answers on?
What’s happening with plans on further exploration once Eureka is producing? It’s such a big deal and a shame it’s parked up!
Chongwe? In case any members missed Andmillsy post recently with emailed reply from xtract answering that question.
>> Chongwe was an opportunity where a small project owner asked the company to assist and understand what he had and where we might share benefit if there was any potential. It was more exploratory than a deal, but our findings are fairly positive, which if confirmed, will take us into an ongoing definitive arrangement, which of course will be announced.<<
Any other small JV’s in the pipeline?
Are xtract hoping to retain the exploration rights on other tenements at bushranger if and when sold? Can’t imagine what else they would divulge regarding the project.