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A44 re post 2200hrs
Good post
Jezzoo
I agree with the CB factor is now a liability on SP but I dont agree it will be 6 months before the next update. The latest will be 3 months as Q3 results will be out in early Jan.
We may get some ore sorting news or other BR news before then but if not Q3 results should be better than these and that should be known in 3 months or slightly less?
This may slowly start to climb as some confidence slowly returns but the big questions is how soon before some decide to sell? My "weak hands" comment has, as usual, been taken out of context as my full sentence, in context, was referring to those selling quickly into a spike ie weak hands selling, rather than holding for more profit.
If there are weak hands then any rally will soon be stopped... unless its supported with more news prior to Q3 results in Jan .
This is the best news we've had in months and should have caused a spike, but it didn't because we know it will be six months to the next update and that's too long. It should be quarterly as that would be enough to make a trend, without other news the SP will still stagnate.
Yes I know it shouldn't and theses figures should be something to rejoice about.
So why didn't we have a better reaction ? I think it's the CB factor, the factor that dictates that even in the face of great news the shareholder and stock buyers can't bring themselves to believe it.
The Steve factor is also going to take some getting over, but if we had more frequent news of earnings like today's we would forget that time more quickly and the SP would react accordingly.
Don't get me wrong, I'm both pleased and relieved by today's RNS, we need more of the same to gain some momentum here.
That Q2 Manica financials update RNS has - at last - now landed.. And I see it as generally very solid and very progressive...
AM/Andew/Zaphod etc have spoken well to the positives and 'less positives' of the figures in the RNS already, so only little I'd like to add ...
That little:
'' We continue to work with and encourage the Operator to achieve sustainability and excellence with a view to reducing mine costs to below US$1,000 per ounce which we feel is achievable against all of the critical parameters of the operation. ''
It's important you are successful in that Operator encouragement Mr Colin Bird ..... those AISC were a shock to me, to the extent that I'd say the minimum value I'd attach to BR is 1.75 p a share instead of 2p a share I previously offered, if such costs were the norm going forward.. (And the maximum value I'll now go with would be approx. 4p per shared for Manica not 5p, if such costs the norm going forward)
Generally, including other Xtr assets - beyond Manica - clearly not being worth 0 in my mind, and even accepting this brutal market, I still think this s/p should be somewhere in the 2'sp in November instead of somewhere in the 1'sp ... and todays small rally was a start back towards there at least.. and hopefully more s/p rallying to come this week and on into November too..
imho & dyor
Https://www.healthyplace.com/personality-disorders/sociopath/beware-the-narcissistic-sociopath
Definitely a pius c**t based on my research .
The clearest example of a Sociopath I’ve yet to see.
Simply cannot see anything wrong with his actions regardless of whether his opinion was correct.
A dangerous person in normal society.
Google famous sociopaths and you’ll see what I mean l
>>So apparently my crime was explaining in detail why I sold? Giving that information to other people so they could make a more informed decision? You are upset because other people understood that information (and consequently saved a lot of money) and you didn't, why is why you are now sat 60% down from that point.
I personally have no problems with anyone posting anything they like. But when it has been shown to be flawed research that had been previously posted, and now making the bold claim that BR is not economic is totally misleading. How could you possibly know, to make that claim? What metrics are you basing it on? Resource size, Copper price, cut off grade, tonnage per annum? Had you taken into consideration what the capital and op costs are? With and, or without bulk ore sorting that will determine plant size to work out the NPV and an IRR to compare with other projects? What net cash margin have you come up with to deem uneconomic? What have you compared it to?
I cannot see how you possibly could have done so at present. So please don’t make these kind of claims as though they were fact steve.
Lol. It's usually the trolls that are bitter - not the holders.
So apparently my crime was explaining in detail why I sold? Giving that information to other people so they could make a more informed decision? You are upset because other people understood that information (and consequently saved a lot of money) and you didn't, why is why you are now sat 60% down from that point. Don't blame me for your own bad decisions when you had access to the same information as anyone else.
Regarding my job, I was Director of Analytics. One of my department's tasks was identifying problem gamblers, so we could STOP them losing money in line with the relevant legislation in many countries. There is unfortunately no similar legislation for problem investors, or you might be in a better situation now.
Steve we've been through this, no matter what the problem was,you selling up and THEN broadcasting your findings makes you a complete **** and a lowlife in my book.
You have no shame and still obviously revel in what you did to many people's financial position.
I hope one day we'll read about your unfortunate meeting with something horrible with teeth.
You won't change, you are obviously a poster boy for sociopathy
>> if it wasn't for steve i believe we would, he pretty much poisoned this share for the foreseable future.
Someone pinged me about this, so I had to pop in (after I stopped laughing).
Bushranger doesn't have an economic deposit and CB lied to everyone. That is why the share price has collapsed. Everything I posted on LSE a year ago, quoting numbers only from company RNS, has been proven true over the last 12 months.
If you really think that me highlighting the problem was the issue (rather than the problem itself), then I think you need to re-examine your investment strategy. Denial isn't just a river in Egypt.
Todays update should help wih some missing figures to help to some sums.
CEO still seems to be a little conservative on performance.
Well I can't buy any with x-o or HL !
You can,but at 1.35
atm
We have income. Game changer.
For what its worth....
I can't buy any atm
Can sell loads
Mt Isa has an adult population of about 13,000, suggesting 8% of the town could be impacted.
Katter said he did not believe Glencore that the mine had become unviable, pointing to previous advice about the company’s Townsville copper smelter and Ernest Henry Mine, which had its life extended by a new owner.
“The reality is no one wants Glencore here in the North West – we want an owner who is less interested in playing games and more interested in mining the $750 billion worth of untapped critical minerals that exist in the region,” Katter said in a statement.
“If our future out here is so tied to the whims of a fickle global commodity trader, then we need to re-assess the operating conditions that we have created and the value our government has placed on mining to our economy.”
A Glencore spokesperson said Katter’s comments were “disappointing” and the company “remains committed to investing in the region.”
“The reality of mining is that mines have a beginning, middle and end. And after 60 years of operation, Mount Isa’s underground copper operations have now reached that end of mine life.”
Glencore said Mount Isa Mines’ other metals assets including the copper smelter, George Fisher Mine, zinc-lead concentrator, the lead smelter and the copper refinery in Townsville will all continue operating.
Glencore will cease operations in Mt Isa at one of the biggest copper mines in the world from 2025.
The multinational company has notified 1,200 workers that after 60 years mining copper in the far northwest Queensland city, underground operations at the Enterprise, X41 and Black Rock mines will close, as well as the copper concentrator.
The mines form part of Glencore’s enormous Mount Isa Mines operation, which was first established in 1924, and also extracts zinc, silver and lead.
“Glencore has conducted a range of studies and reviews seeking to further extend the life of the underground copper mines but unfortunately it has not been possible and they have reached the end of mine life,” the miner said in a statement on Wednesday.
“The studies revealed the remaining mineral resources are not economically viable due to low ore grades and areas where, due to geological conditions, safe extraction can’t be achieved using current technology, this all coupled with ageing infrastructure.”
The company said the Lady Loretta zinc mine, 140km northwest of Mt Isa, will also close in 2025.The chief operating officer, Sam Strohmayr, said it was disappointing the mine life had reached its end and the company wanted to give affected workers and their families time to prepare.
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He said it was too early to determine how many of the 1,200 Mount Isa Mines employees would receive redundancies.
“Redundancies are the last resort and will be offered only when other options have been exhausted,” he said.
The treasurer, Cameron Dick, said the closure of the mine would be “unsettling” for those impacted, but the mine had reached the end of its life.
“We can’t make a mine continue to operate when the mine says it’s no longer economically viable or no longer safe,” he said.
He announced the government would invest $50m towards developing other resource projects in the state’s north west, as well as supporting future job opportunities in the region. Glencore will also spend $20m on the latter, he said.
Dick dismissed as baseless any suggestion that the mine’s closure was due to the state’s progressive coal royalties scheme.
The Australian Workers’ Union called the decision an incredibly sad day for the Mt Isa community.This is a fight for Mount Isa, the capital of the northwest minerals province and the epicentre of the next mining boom,” Stacey Schinnerl, the union’s Queensland secretary, said in a statement.
“We will do everything in our power to hold the government and Glencore to account in delivering the support and dignity that the Mount Isa community deserves.”
Robbie Katter, the local state MP, said he understood there were 1,100 local workers employed in the copper business, not including fly-in-fly-out employees.
Mt Isa has an adult population of about 13,000, sugg
if it wasn't for steve i believe we would, he pretty much poisoned this share for the foreseable future.
if he didn't realise what he would do for the finances of so many people he must have been an idiot but he certainly wasn't one in my opinion. he knew exactly what he was doing, the only thing we will never know is his motive. surely nobody could be such a massive **** to do that to so many people they don't know ?
personally i think he has history with bird and did it once he'd got his money back from a previous bird f*ck up and we were just colateral damage.
Apologies that I'm a busy person and I only really make comments when there's something to comment on Lucky, how ridiculous of me.
"You are posting to try incourage a positive board and get a lift in the SP from new shareholders. All for your 10-20% trading." - again, I feel like you're not picking up what I'm putting down Lucky.
I hold a substantially larger holding than the amount I regularly trade with - my trading passes the time and ensures I make some money along with the ebbs and flows of the market, as I feel I've been pretty transparent about, meanwhile my larger holding will at some point in the future be sold when I feel there is fair value and I have something better to do with my money.
I'm not trying to trick anyone as you're insinuating lucky, I'm just stating facts.. XTR just announced earnings of circa £950k for Q2, our Mcap this morning was circa £9.5m, I made a statement that earning 10% of your mcap in one quarter is good going and I'm surprised it hasn't been better received by the market.
Did I buy some shares prior to todays lift when I perceived this to be undervalued based on what I was fairly sure was about to happen - yes
Will I sell said shares when I perceive there to be a more fair valuation of the company - also yes
How you're suggesting I'm trying to be sneaky and trick people into buying so I can make a trade is beyond me and to be honest, considering my transparency, yeah, I find it kind of insulting.
To be clear, I chose to buy based on my own research (which I openly shared on this bb) and burden the risk prior to news of income being confirmed, I sure as hell deserve the benefit of that decision once that news lands and the market (after being spoon-fed) catches up.
Its not a personal attack, I'm just merely pointing out to anyone new, don't believe any poster, no matter how much they are respected.
I had a look at old steve, looks like he's using the same old phrases on his next shares.
I wonder if he really did make a loss, or he's a Fantastic trader.
He Is an ex professional poker player, so who knows.....
If it wasn't for Steve, I wonder if we would be sitting at 3p still?
Doesn't look like you'll get your 2p plus trade off the back of that RNS.
Let's hope the sale of BR and the next results might get us closer to 5p.
I'm jealous JDAU, I bet you made a nice profit off the 1p to 7p. Unlike the rest of the long term investors here. Most of the people here are like me, we all need our heads checking.
I just don't like poorly constructed attacks on my character Lucky.
If I'm being honest, yes, after being a cornerstone of the XTR investor base for coming up on a decade now, spending countless hours digging (excuse the pun) into asset history / researching and happily sharing my findings/trying to help explain to those who didn't understand certain aspects of the company and its operations that have been discussed over the years - and consistently posting in a style not dissimilar to a university level paper with references so my points made could be fact checked / verified - it did touch a nerve when you suggested I'm merely a short term trader looking for an exit point just because I wrote a post promoting an event occurring that I've waited years for finally happening - and because I wanted to point out how ridiculous the limited market reaction is when you compare quarterly earnings to mcap.
Wasn't gloating, I was relieved that finally after all the times I've ignored my gut, this time I went with it and was correct. And to sit in a room of over 30 people, thinking and believing the opposite, it's a hard decision to make.
It's exactly what Steve4077 did, trusted himself, not the BS on these boards.
You are out here today posting, when you rarely post, and you have proven me correct. You are posting to try incourage a positive board and get a lift in the SP from new shareholders. All for your 10-20% trading.
Thanks for proving my initial post. 👍
I sold some, not all, just after the AGM.
Lol, touched a nerve 🤣?