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Personally, I think "Won't Get Fooled Again" is more appropriate for investors in a CB company.
Errrrrmmmm ?
So just as long as he doesn't go public and say we don't need a placing we won't get one ?
Here's hoping he's lost his voice then. :)
Jezzoo, have you done a count on those lashes. Leon C (Colin's protege at JLP and still involved), said in a investor presentation last month about not needing to do a placing and the availability of bank finance. He then did a placing last week. Colin did another one at BZT last week. Whose next ?
To follow up on FB, two thirds of the whole Identified resource is already amenable to open pittable depths regardless.
Mining consultant Daan van Heerden of Minxcon had said: "The Manica study has produced a robust project targeted toward simplicity and predictability. We concur with managements approach to the concession and agree that the previously announced hybrid approach might have led to enhanced capital and operating risk."
Basically if they can continue to find shallow gold to keep surface mining operations going, it will be relatively risk free, a license to print money, especially if a new sulphide plant can still be justified. They may simply not need to go underground to exploit oxides as the ability will then exist to process outsourced ore, so is a great opportunity for Xtr to increase its interest with an investment in any new or extra plant mods with any of the extra risk mitigated against, by not digging deep.
??
I disagree.
I think we are in the doldrums but this is the bottom.
The only way is up !
Baby
For you and me now.
I think given past performance probably should write off any money invested here. CB's past performance would indicate that the only way is down for the share price in the long term.
Much of Manica’s ore is shallow to surface, including the transitional and those deeper sulphides that are still within open pittable depths. It is not as though that any of the deeper sulphides can only be accessed through an underground operation. The more shallower oxides that are identified and can be exposed from push backs of the current pit it will naturally allow deeper access.
From ‘23 full report-
Studies are on the way to define in-pit oxide feed material together with general exploration aimed at identifying new additional oxide or sulphide material. We are conducting test work to determine the overall recovery for the transitional material and are optimistic that the cut-off between oxide and refractory sulphide will not be night and day, but gradational.
So I’m not so sure Bob. One day it may go underground but I don’t see how they are considering it yet or for some while.
From website, there was discussion at AGM even, pertaining to possibly of building a new plant in the open pit to make access to the underground portion easier. Over 1 million oz down there, it was to getvoff ground only the open pit initial atudy.
Manica Key Features
•1.262 moz SAMREC compliant Au Resources (782koz measured and indicated)
•Low cost, near-term ready-to-build production
•Metallurgical risk solved by fine grinding and pressure oxidation
•Additional nearby prospects for further exploration success, namely: Guy Fawkes, Boa Esperanza, Dot’s Luck, all have declared resources
•Publically released information outlines a mine plan based on Fair Bride only producing approx. 215Koz over 7 years
• Further optimisation is possible and ongoing
RNS preceded the Manica DFS release
https://www.lse.co.uk/rns/XTR/manica-project-strategic-and-progress-report-owa0y87hq9jlyne.html
Hi captainbob.
Manica DFS went under a review by the board to optimise it, shortly after its release. Although it concluded that it will not change anything, it was decided to develop Manica solely on an open pit basis and dismissed the concept of a high grade open pit operation followed by an underground mine. This decision was based on the need in underground development for crown pillars which would sterilise a significant portion of the resource. Weak wall rock conditions underground were expected to require back-fill which would have a serious adverse effect on underground operating cost.
This would likely be the case for the current ore reserves including the satellite deposits too as it was stated as Manica and not specific to Fairbride.
Was in an early RNS, I doubt if this has been re reviewed since.
If it has I have not seen specifics other than Manica being described as an open pit and underground project.
Can any others comment on this?
The shortage is very relevent, if demand can push price up to 10k, 12 k a ton, then the asset will be very good asset.
Not to mention other copper prospects in Zambia, given cash and higher copper price, even Eureka can be revisited....
Short term, barring being told how much cash is actually hitting our accounts, the most pressing news is the upgrade of plant at fairbride without any break in production, preferably a second plant that can run in parallel, ideally meaning this needs to be in place early 2025, so plans need to be announced and acted on early 2024, as was promised at the AGM. We also need to invest in this plant, to up the 23% we get at present, seem to think total, $10 million was mentioned.
This will also allow going underground, once the open pitting.
We haven’t got a viable copper resource at the moment tho so that shortage is a bit irrelevant to Xtr. We do have a decent gold asset tho I think
Are they all finally waking up to the truth. If so we're sitting pretty. Hopefully sooner than later.
https://www.mining.com/web/the-worlds-copper-supply-is-suddenly-looking-scarce/
Yep, some definite shoots of the recovery appearing. Just need the Chinese economy to step up that will see the demand needed that will really tip the balance. At the moment it is them that are generally limiting any real upswing in base metal prices prompted by the lack of stimulus measures that have been hoped for there.
With US interest rates expected to keep falling each quarter from now until end 2025, it looks as though head winds in the Commodity sector should soon start to turn into tail winds ?
That said, it may take another 12 to 18 months before POC reached the required level before bushranger becomes economic. But Manica profits should keep increasing.
It would be nice if CB told us exactly what they are though :)
Anybody notice that gold & copper are on a rip again. Can only be positive in the long term for XTR.
Flipper, you are bang on the money here.
3 years ago there was a strategy. April 2020, we were presented with a lovely PowerPoint that outlined the buy back option. The strategy was to define a resource and sell it to AA within 2-3 years.
We were sold the dream. RNSs every 3 days telling us we'd hit the mother load and everything was hunk dory.
3 years down the line it's evident that not only Colin missold us the dream, but also he has no strategy for ANY shareholder value. Quite frankly (to use his favourite phrase), there is no obvious plan for any short to medium return of shareholder value. I do hope conversations are happening behind the scenes for a buyout by XYZ for 50million because I would love my money back.
It wasn't long ago I considered Kwadoku completely mental. Turns out he's not far off - from the evidence we have before us (down 80% and ZERO news), Colin doesn't appear to care about the shareholders.
I look forward to being proven wrong. As I've said before, he needs to step up or he will be canned at the AGM 2024.
Hz. I have posted plenty of positive things. AIM has been terrible, mineral exploration is difficult. I am a great fan of exploring the potential of NW Zambia and have said so many times. I have also posted many positive things on Manica - more so than Colin !. But l am lost as to what his plans are. Explore NW Zambia or take on further mid tier projects with more placings ?. And given the inability to get copper out of a small mine, what chance a large mine. And he will probably get this deleted which annoys me.
oh billy i think you are mistaking ‘those’posters that pop up whenever cb gets ****ged off with regular contributors. after all there isn’t a day that goes by……. thing is, you should see what it feels like when you try and post something positive about cb 😉
Jez well you might be right.
CB seems to have a better PR team than XTR!
J🫦z
wos finking of getting naughtygordie
a
get OUTTA jail free card ♦️♠️
do you fink it would help❓
cr💙
I've noticed that too.
I'm expecting Col, err I mean OSV to rock up next.
Is it that when posters start to s l a g off CB that certain posters pop up.
Ella Pure dross :(
If Colin can send me the money instead I'd prefer it.
I've given him so much,it would be the first thing he's ever given me apart from heartburn.