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> Looks like we are going mining
I don't see that in the RNS. From the below paragraph we're still at the 'working it out' stage. Which is not in itself a bad stage to be at, it's important to do it, but we have more work to do before we can say that we're going mining IMHO.
"Larger deposits require significantly more capital expenditure and as such warrant considerable study and due diligence at an early stage of project development when optimisation can radically change a Project's fortunes. We are at this stage and with this in mind, the Company will continue with its studies working towards the ultimate mine and operating plan that provides the best scenario for development of the Bushranger resource."
So copper needs to increase by $2000 per tonne (25%) before Racecourse is economically viable. Is that right?
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.
RNS needs to be read 10 times before it sinks in. It answered alot of questions and at the same time it left alot of questions.
Large spread at the moment to deter. Haven't been able to trade since RNS
> The market likes the RNS? What shows that? No trades since the RNS as far as I can see...
LSE shows 8.7% up. Though it seems that should be treated with suspicion as other feeds show -4.3478% down! I have not tried a dummy trade. Apologies for taking LSE at face value - I should know better by now.
R2019
Looks like we are going mining and CB has just set out the stall
The market likes the RNS? What shows that? No trades since the RNS as far as I can see...
Well the market likes the RNS. As an underwater LTH I would like to like it too but I can't see what's so good about it. 20mpta is a high volume and we need a 25% increase minimum in copper price. Or, we hit gold on followup tests of untested porphyry targets. What am I missing?
Now whats he got up his sleeve!
Bird has a massive, self inflicted credibility problem. I for one, will believe the cash position/ cash flow from Fairbride, only when it appears in an rns. The sp suggests I am not alone.
If the SP goes up at the moment lots of long term holders will sell so perhaps it's not in CBs interest to shout about the good things.
Most companies stop shouting from the roof tops (PRamping) when then get stable and have a revenue source as there is no need to raise/place for funds. The key now is how does CB increase SP. One would say most SP's are underpinned by asset value, future potenial and currect revenue etc. He really does need to push the current revenue stream to underpin Sp.
Andrew4444 10.52 post:
Exactly !
Fishy..
"How much is not reported yet, but positive"
Agreed but not just lack of reporting but there seems, bizarrely, no desire for CB to shout about manica Gold revenues?
Only a few current holders will know about this and we are all over exposed. The wider market ie 99.99% has no idea about this.
Maybe the sp would be nearer to 3p then 1p if CB actually started to do what he has been very good at in the past - promote the company !
Gold revenues continue to increase and we are making profit. How much is not reported yet, but positive.
We await the study results to optimise the copper assets.
Bull market is upon us.
All positive from here.
TBH all I'm really interested in is the SP.
If investors truly believed XTR was in a good place the SP would be three times what it is now.
I've stated my reasons many times before, no need to trawl through it again.
"but xtr are ‘still’ in a good place in comparison to many of its peers."
I agree with that.
But Xtr shareholders are not in a good place if they believed Cb's BS and bought in at 3p, 4p, or 5p, and are now stuck with averages at multiples of the current sp.
And most, if not nearly all, will be in that situation
And there is still a decent chance in 1 or 2 years time that many will get all their money back.
Wow! What an investment that would have been over a 5 year period :)
Of course, thankyou
Hi mrgez I don’t want to be seen as completely missing your point. I really do get it, CB managed to drag a lot of investors in with his over enthusiasm and unrealistic timescales. I can’t comment on pre BR investors, but I doubt there are many of the early BR investors that would have bothered if they had known how long it would realistically take. Let alone investing in the sector in general leading into a global recession.
Hate the term “it is what it is” or “hindsight is a wonderful thing,” but xtr are ‘still’ in a good place in comparison to many of its peers.
Okydoky. Just my thoughts. Frustrated that's all
The 2mt, regardless of what CB had said is not relevant without a study to support a viable mining concept, leaving it as a moot point. No mining company is going to buy bulk tonnage low graded porphyry deposit, which have unpredictable mineralisation trends, without one. How could any value be determined for it without an NPV model wether that’s for 1.3mt or 2mt.
CB has repeated a couple of times at least I can recall that the 2mt and DtM are concurrent and are one of the same.
It became clear then, that AA would not have been approached anyway without a viability study to at least support the DtM
Hypothetically it could have triggered the AA option but they are under no obligation to buy back into it and highly unlikely they would anyway regardless of total CuEq , still leaving us where we are now.
As far as I'm concerned Colin came across in a very positive way that we would have 2mt. Am sure he knew AA would not be interested in 1.3mt. To me he has been very disappointing. If we had 2mt then l dont think the price of copper to a degree would matter much as we have something to sell. Maybe a few years before we do sell but will wait as to much under water.
GORD
you are SO NAUGHTY
you must think I wos born yesterday LOL
CR💙
Not for one minute do I honestly believe that this would have been sold last year.
With the so called ‘difficulty’ that he stated recently that they are facing in proving the decision to mine. The company will be now looking to negotiate ‘out’ of the agreement.
This would have been very likely always known to be the case since inheriting the buy back agreement on acquisition of BR.
So why did the company not approach AA straight after the updated Resource for RC and MRE for Ascot were released? As in theory, they could have just struck a sell on deal with AA when the 2mt option was not reached if he really wanted to tie a bow round it and sell it.
Far too much significance has been placed on the agreement and its terms. Although, as far as we know it’s legally binding, it has been used at the centre of BR marketing strategy. But in reality, with a budget assigned to explore and build on the resource toward upgrading the JORC along with a complementing economic study are generally set in stone and the same for any project even if 2mt was reached.
They were always going to make the project as desirable as possible within that budget plus maybe a contingency to act on any further recommendations they feel will add further value that the latest study will throw up.
We would highly likely ‘still’ be here and now if 2mt was JORC’d in this current economic climate.