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"There is nothing we haven’t been told already and is certainly not a negative study."
We certainly weren't told that Ascot was a dud and wasn't viable.
How many tonnes do we have left from the 1.3mt now?
I do have respect for tenacious people howezap but I'm afraid you are simply "raging against the dying of the light".
We are at the mercy of the copper price, even Bird is saying that, otherwise he'd be drilling for the bunch of grapes or whatever may down there.
We have been had by the slippery tw at.
There are no shocks in this one supporting study, I did suspect that Tomras ore sorting of the low grade wasn’t going to carry the economics.
As stated it’s a starting point to work from, to improve on some of the more technical work and plant and mining optimisation to bring down the operating costs that have been shown in the ‘example’ of case 17, which has shown to have a significant increase in cash flow.
Pre concentration will be looked into further, as this will have the most profound effect if the plant ‘can’ be designed around a 10mtpa mill. From what is known from the close association of the copper mineralisation with the mineral pyrrhotite, which is both conductive and magnetic, there are ‘several’ options for pre-concentration. This was already stated in RNS.
There are different pre-concentration technologies ‘other than’ Tomras XRT. Such as Magnetic resonance Bulk sorting, which can be used to sort chalcopyrite from waste minerals. Also, similarly to Tomras particle sensors, is Electromagnetic (EM) sensors for separating minerals based on differences in their electrical conductivity or magnetic susceptibility. Either of which may be highly effective, but the EM is the one we thought they were going to go with originally due to the magnetic properties of BR’s waste. A company called NextOre run this tech.
We have known about the anticipated copper price needed since the ‘21 preliminary study, we already knew there will be further optimisation work as Colin told us that at AGM. We have also known the “potential”” is there down the line, as was stated in May RNS that further drilling is at planning stage to test the remaining shallow to moderate depth copper-gold mineralisation targets located proximal to the Racecourse Mineral Resource. Extension to RC north, ascot and the untested IP anomaly next to Ascot ‘If required.’
There is nothing we haven’t been told already and is certainly not a negative study.
I've lost count of the projects we've bought into and then walked away from because ,despite the hype, they have proved to be worthless.
How the hell does he continue to get away with it.
This time, even the usual cheerleaders have failed to find anything positive to say.
Billy re "Jezz we have spent too much on BR now to stop"
Today's RNS merely confirms to me that Bushranger is our HS2 moment.
Never too late or too much money spent to pull the plug. At the moment the only solid thing we have going is Manica and I for one do not wish to see the Bulllshiiter in Chief using up our valuable profits from this source to continue supporting Bird's vanity. Mothball it and in 2 years' time we will see if his constant ramping of copper prices was also Bulllshhite
may be we need a major shareholder / en mass shareholders to propose the removal as per gbp today to take xtr forward , enough bull**** and lies now please , somebody grab this by the horns and promote what we actually have and no more pipe dreams !!
Unfortunately Jez i don't think Colin really cares about the SP as he's on his 125k a year for 1 day a week of work gravy train. Bezant have been in the doldrums for years and he's still collecting his pay check there.
The man has today shown himself to be a proven b*llshi****. His hot air roast/Zac podcasts have always been misleading with pie in the sky forecasts or trains of thought but today we see that 3 years of media work has led to an uneconomic deposit at even 20% above today's copper prices. It's exactly what I feared.
However, there are steps we/he can take to turn this around. We have a profitable business from Manica gold. But if we're honest about his efforts to advertise our gold profits, he has not been up to scratch. His communication style has had its day. No one trusts you now Colin. Move aside and let someone with more time and energy spread the word. There is no need for you to move your attention to Zambia in your vanity project of searching for elephants. Many of us are 75% underwater. This is about hard earned cash and savings. Please remember that and put us first, not your legacy.
If anything BR could actually be a NEGATIVE on the SP at the moment - the fear that more cash from our profitable gold mine might be thrown down more pointless drill holes or expensive studies.
I THINK that CB has said there won't be any more drilling, but it sure wouldn't do any harm to CONFIRM that again and focus on maximizing Manica cash flow to XTR for a while. BR hasn't worked, bite the bullet, mothball it and be grateful that we can generate towards £5m net per year as we are.
Personally I think NW Zambia is a very interesting area so some economic work up there is OK by me. If others nearby start hitting interesting discoveries and deals then we could still have a good future at XTR. Bushranger is a gonner, be gone with it.
I don't think the ore sorting was ever going to work, it was just a ruse to kick the can down the road in the hope that copper went to over $12k. Why did we get a report not long ago that made out it was viable and now it's not ?
You had better come up with something Colin, even if it's another Bullsh*t rainbow chaser, you need to drag in some fresh money to rinse again.
The only hope for xtr sp to go up substantially is news of CB finally retiring !
You've spent v approx $15m on Bushranger and the market currently valuing it at zero speaks for itself, Mr Bird.
It should now be obvious to a blind man that the coming months need to be about you seriously publicising Manica.
(I've been here for many years with Manica as my main area of interest thru that time.... it's now in its sweet spot...so show me a smidgeon of respect and go publicise it properly/fully from now forward please!)
Errr unfortunately its down a bit
12 months waiting, absolutely no effect on the SP.
EMPLOY A CEO !!!!!!!!!!!!!!!!!!
I think the ore sorting is not of much use is because, as it said in the ore sorting report, only the low grade material is worth sorting where as it seems, on first reading that today's RNS does not put much store in the low grade material.
Persoanally I'd like to see some low level in-fill drilling to increase the confidence of the RC resourse. I know that's not everybody's cup of tea but I'd like to get RC over the line and simply waiting for the copper price to rise seems like wasted time to me.
One thing Colin has been clear on is that he is not going to spend any more money drilling at BR in the foreseeable. To me that means until copper is solidly above $10k at a minimum - and I totally agree with that stance. There may be some further juggling of numbers and methods but its clearly worth zippo sub $10k.
On Dragon's Den they'd be saying "You've valued the company at £9.85m but it's not an investable proposition at this time because you've not currently got a profitable business model and you are making a loss. You need to refine the economics. So I'm out.".
Too far then, taking grade, haulage and processing fee into consideration.
"Having said that, how close is the nearest processing plant with spare capacity ?"
Cadia Ridgeway (owned by Newcrest) is 60miles away with same mineralisation as bushranger.
I don't think it's a walk away scenario Billy, it has a value but atm it's a busy fool with not a lot of profit one.
No harm in planning it though, at least if the Copper price spiked we could get funding or sell it.
It pays to be ahead of the game.
Having said that, how close is the nearest processing plant with spare capacity ?
Jezz we have spent too much on BR now to stop .
Watch this space
Billy; Yes that's possible I know but until the copper price gets to $10k min it's not worth it to me.
How much will it cost to go from greenfield to a turnkey opencast copper mine ?
Jezz RNS was comprehensive looks like we could be going to funding for the new route on BR
Mothballed until $11000/ tonne then, more lashes and the bow goes back in the drawer. Ore sorting was a bust despite CB making noises that it was looking good. Where now ? Oh yes.....Zambia.
"working towards the ultimate mine and operating plan that provides the best scenario for development of the Bushranger resource."
Its in the RNS........................
> Ricardo, you might be missing the conservative gold price in the workings - today it is way above 1900 usd per ounce. You might also be missing what is a Ton , i.e more than a tonne - but I don't know what they have assumed.
Thanks Taverham - I'll re-read regarding the gold.