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Hi NTM
You wrote
''The missing piece of the jigsaw will be operating cost and XTR profit based share which I believe will unfortuantely only be apparent in the full year XTR results.''
The above are the questions I was referring to.
1 is Nett profit share agreement with MMP permanent
2 if not then when will original agreement of 23% gold produced kick in
3 if Nett profit share agreement permanent then will XTR need team on ground costs
Thanks
Completely agree NtM RE those who have a handle of the Manica operations and also the importance of broadcasting our profitable business.
Very few AIM explorers are in profit. Most have huge numbers of shares and are in the doldrums currently in this market downturn. Profit making AIM explorers are extremely thin on the ground. (Name me another?)
Therefore, Colin should be shouting from the rooftops about his cash cow, rather than his hunt for elephants via midweek roast podcasts.
Come on Colin - we know you struggle to overegg things occasionally but this company is now in a position where we can blow a couple trumpets! Gold trumpets! Get on it, man!
Thanks for below feedback Jamesiecake....all fair and good sounding.
(AndMillsy and Andrew are very good on nett to xtr Fairbride revenues based on Empress feedback and xtr RNS's together too.... and have a latest production cost steer etc from yesterdays RNS if such deduction is still required going forward too)
Generally, towards giving our share price every chance to rally in the short term, there is a genuine and obvious opportunity in the coming weeks/months for CB to focus hard on publicising the gem that Manica is for Xtr. He could have been doing this for plenty of weeks/months already now.... but he can, surely, now do this over the coming weeks /months, please.
Hi NTM
I’d expect (based on my reading of RNS and discussion with Joel who I had a brief convo with after the interims) that we will get 1/4 updates with the same information as Q1 and Q2 as a minimum. For me this is more than good enough to get a good feel of the performance and likely cashflows, and if they put in the unaudited net profit interest even better as I’m assuming they are also including tax impact (which is harder for us to calc when there deductions etc we don’t know about)
My take is that the financials will be used to show the Alluvials added on top of Manica. To be honest unless there continues to be large costs associated to the Alluvials (relative to income) like in H1 2023 then I dont much care about these as they are basically done.
Of course I might have misinterpreted things!
I’m also expecting the quarterly report to be released more timely, so fingers crossed we hear something on Q3 late November/early December (time will tell)
Cheers
James
''The missing piece of the jigsaw will be operating cost and XTR profit based share which I believe will unfortuantely only be apparent in the full year XTR results.''
SNAP with what I'm trying to say in my post below andmillsy.. but, generally, your command of the English language is better than mine, I'll admit
The next update of FB production volumes can be derived in late November from the Empresss Q3 report. The link is here
https://empressroyalty.com/investor/financials/
Empress have a track record of reporting in a timley manner ....
Empress royalty is 3.375% and can be used with an assumed gold price to derive a production volume if not quoted in their management analysis. Their commentary is noramlly quite transparent. This will only give an inidication of volume but could be useful to see if Colins indicated July uplift is being achieved and maintained.
The missing piece of the jigsaw will be operating cost and XTR profit based share which I believe will unfortuantely only be apparent in the full year XTR results.
Thanks for this distinction between the Alluvials vrs Fairbride reporting Jamesiecakes.
But, also, I note wording from yesterdays RNS :
''Xtract will report production and gold price statistics only for Fair Bride on a quarterly basis. Xtract's 23% net profit share will be reported on semi-annually in Xtract's annual and interim financial accounts.''
Happy to stand corrected - again - but I read this as while we're getting some Fairbride figures quarterly - total production and gold price achieved for sales - we're only going to be getting nett Income to xtr from Manica reported every 6 months? (ie we're not getting nett income to xtr reported quarterly... and as we're also not getting AISC costs quarterly we won't have enough info to deduce xtr income no's accurately)
(In my last message I said :
''seems have changed Manica financials feedback from three to six monthly ''
Not as incorrect as you first might have assumed, I'm now wondering if you're thinking....if no apols.. but I could have worded it better too
And I should check back previous RNS's to see if my thought that we were told we were getting FULL financials to xtr from Manica every three months before was even correct.... that may not actually have been a correct thought in the first place granted.. but it's academic now, so I'll not bother. )
Might be going blue....soon
NTM
We will still get 1/4 production report for FB, hopefully these will include an unaudited Net profit payment. It’s the Alluvials which we will only get update on on 1/2 yearly (although they said the same in Q1 and we got some numbers for Q2).
Cheers
James
It's undeniable that xtr share price is a mess, but equally undeniable that xtr as a company is its financially strongest position ever... and Manica is looking like a cash generative gem going forward for years for xtr and this share price is currently significantly under appreciating this fact.
I think Bushranger further drilling might be re visited when the copper price is meaningfully higher than today and I'm absolutely in agreement with CB re leaving this program out in the long grass until then (Only if/when the share price clearly starts to again attribute value to Bushranger should further drilling be considered imho)
Zambia is his focus now, generally/clearly. Indeed that to the extent that he seems to be seeing Manica as a lower priority cash cow feeder to xtr's new licence there (To back this point up I note that he now seems have changed Manica finanicals feedback from three to six monthly.... and as someone who is here primarily for Manica that's disappointing to me.. and given Manica is now coming into it's sweet-spot and xtr s/p is in need of more short term good news, its further disappointing again to me. Indeed I'd go as far as annoying more than disappointing)
Generally, I think CB feels this s/p is a joke at 3p or 1p and while Manica is very a useful cash feeder, he's got big dreams in his head and rainbow chasing in search or a big win is what his time left in the game is about.
John, thanks l just had a listen. And the XTR license is next door. With the improvement in technology to assess through the deep sands, the expertise of FQ and massive infrastructure investments by governments in the area, hopefully it will pay off.
I don`t have the time or inclination to go back a year to find Steve4077`s post which some believe to have been the causal factor for XTR`s decline. That is a fatuous opinion. Surely, a pragmatic view, (rather than seeking for an excuse) should be that, if one man could significantly affect a significant drop in the SP by his comments, then surely the plethora of constant positive, persuasive `dreams` should have had a major, positive effect on the SP.
Perhaps those looking at the overall picture noticed the DREADFUL performance of Bird and his companies since he took over as CEO. That certainly would be a VERY significant factor to me.
"in percentage terms compared to the MC we could earn the equivalent of nearly half the company's value."
In 5 quarters
I agree Ben, CB could do well to build on the undeniable facts in the RNS, in percentage terms compared to the MC we could earn the equivalent of nearly half the company's value. Based on that we should be 5p
One Swallow doesn't make a summer though, the information needs to be filled out and advertised to a bigger audience.
It's time to crank up the PR machine CB.
I think we should spend some of our earnings on proving up more of BR, you never know, we might get another cigar.
Great post Ben!
A.) I hope not, his interviews are a waste of time (he waffles and the questions are rubbish)
B.) The later the report the worse the content, as it was due Sept/Oct per AGM comments I imagine it was worse than I thought it was going to be.
C.) I think CB will mothball the project and all funds will go into Zambia.
Cheers
James
John, do you have a link for that interview.
I don't know about it being the most significant of his career, but l do think it is underappreciated. Not only at AFP but also here and GLR (personally l prefer the XTR licence to the GLR one ). However it is blue sky exploration so carries the usual risk.
Somehow over the course of an afternoon and evening, we have managed to turn the discourse from a pretty good set of gold income into who is at fault for the share price drop a year ago.
Good god people let's move on.
We are in profit! To the tune of millions of dollars a year. That is what needs to be seen when people visit this forum. Gold. Profit. Millions. Spandau ballet.
Not a discussion about whether someone has a personality disorder.
And for what it's worth, if someone does believe someone's very believable working out caused a drop a year ago, they also can post that, in a civil way. There's also no need to try and defend oneself. Presumably Steve is no longer (financially) interested here, there is no need to defend one's character or honour as it is not 19th Century Victorian London, it is an online account with four numbers in it. We have no need to rake up the past as it neither matters and the majority
do not care one iota. Let's move on to discussing the merits of our respective shareholdings.
I'll start with a couple starter questions.
A) do we think Colin will do an interview with Zac?
B) what might be the timeframe for the (rather slow) BR report?
C) do we think BR will have another round of drilling?
Like a smorgasbord of veg with a cigar sticking out of it.
Colin told Zak yesterday that the AFP RNS was the most significant of his career. “It’s big Zak”.
Antisocial personality disorder
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>> That last post sounded like a narcissist’s having the last word
OK, one last post. A narcissist is someone who thinks its all about them and draws attention to themselves. What I have been trying and failing to explain is that its completely not about me - although my sarcasm is flying above some heads.
XTR is in a mess because of XTR - it has nothing to do with any posts I made a year ago, despite people trying to assign blame to me for everything that happened over the last year. I have been entirely absent during that time. Someone started attacking me earlier and I was told about it, so I turned up to defend myself. Fairly dumb of me really since no one left here is interested in reality, but at least it was amusing for a while.
Yes, howezap. I am sure all that is true and it wasn't just a blatant attempt to mislead because they only found a small amount of new ore. All the people who sold were just idiots who didn't understand anything about grades or mining or cut-offs. They should definitely have listened to your expert advice and held on instead, while the share price fell 60% in a year.
BTW, I now have a top job in the City. Once I explained I could just write a few posts on a forum and almost everyone would be convinced to sell, regardless of the RNS published by the company and any conflicting opinions from other people on the same forum, they were prepared to pay anything I wanted. They were particularly impressed when I explained that effect would remain for a year after I posted and even affect all the people who didn't read my posts.
BTW, this was fun for a while, but its now getting a little tedious. I only turned up because someone was attacking me in my absence, so I've made my point now and I'll depart. I'll only return if the attacks resume.
Right or wrong 10p or 1p.
That last post sounded like a narcissist’s having the last word. Don’t know who you or what peeps are on about but after reading this post I get the gist.
Steve once again you are quoting utter nonsense and proving yourself as having a rather poor understanding of the project pathway if you think that xtract had decided to just reduce the cut-off.
To determine a cut off grade, you need the strip ratio, it involves dividing the amount of waste rock or overburden with the amount of ore from the resource. Then to work out the open pit slope angle that is going to be required, the geology determines this. So once the slope angle needed, is determined it gives you the strip ratio which is then used toward working out mining costs against anticipated copper price and ultimately if the mine is viable
Mining costs take into account the type of waste material. Mining costs also take into account the quality of the ore and the recovery rate at separation from metallurgy testing. All in all determining the economic cut off grade.
The mining consultants applied the cut off grade of 0.1%.
And as you have always preached, it’s not about the grades, or additionally it’s not even about the quantity, but ultimately what can be economically recovered.
I must confess to a certain amount of amusement at the sheer self-delusion from the remnant LTH. I think you actually do believe that some random person posting RNS quotes a year ago is the primary reason that you lost money here.
The share price has kept falling for over a year, including selling from many people (probably the majority) who don't spend their lives addicted to LSE - or even read it. Its blindingly obvious to every neutral observer that the interviews promising 2mt tons, Anglo buyouts and 20p share prices were complete and utter fantasy. XTR even tried dropping the cut-off from the existing deposit from 0.3 Cu to 0.1 CuEq and still couldn't even get half way there. Even CB is no longer talking about BR and has some new shiny new thing in Zambia instead.
None of that matters though, because me making a few LSE posts a year ago is far more important than that, plus my apparently mystical ability to get people to sell and keep selling and never buying - even those who have never heard of me and even without posting anything for a year. Plus, the amount of economic copper in the ground is irrelevant compared to a few posts on LSE - everyone knows that.
All that has to be true. Someone has to be to blame. Because otherwise you would just be people who believed the fantasy and made terrible decisions and lost money when you could have easily avoided it. Or maybe its just textbook cognitive dissonance.
Anyway, feel free to continue the personal attacks in the absence of any rational argument or debate. Blame everyone else and never consider your own decisions. I am sure that is the best way to approach any investment.
I'll pop back in a year or two to check on the Anglo buyout, unless I just prevented the deal by making this post!