George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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And another !
wINK !
Another green box full of wisdom no doubt.
Who exactly do you know this then OSV ?
Utter rubbish as usual.
You haven't a clue
I've been buying some just so you can't have them.
That's confused you hasn't it ?
MaBaker is one of the few here that understands how to make money from the value being created. Shares are gradually being transferred away from the bashers to supportive holders thankfully.
More jam on the way from CB.
Results 1st please!
The reason the market values Bushranger as nothing right now is because with a mineral resource like this it’s quite literally all or nothing; it’s attractive enough to be bought, or it’s not. Unfortunately we can’t attribute ‘a little bit of value’ just because SOMETHING is there. Also, when Colin was touting 2mt every other week the AA buyout clause was seeming a potentially advantageous way to quickly realise value. At under 2mt and with Colin even seemingly alluding to the complexities of a ‘decision to mine’ now, it seems like the AA clause has become more of a pair of handcuffs.
Q uin ton H ills for the avoidance of doubt
*****on filled el5574 annual report on nsw titles management system in last few weeks so they're still around but no new drill applications submitted.
July August is holiday season across the markets.
(I'm ok with low profile/quietness thru August and well on into September here.. the bank balance is growing out nicely month on month off the back of Manica Gold revenues.. and we'll be give feedback on these revenues - bank balance hopefully too - incrementally as we go forward .. and that should help push the s/p well back above 2p on it's own thru rest of this year, hopefully.....
The market currently valuing Bushranger at zero is seriously constraining on the share price, obviously.... and CB likely needs this latest updated study feedback on Bushranger - Sept/Oct ? - to hand to help him figure if/how he can better convince the market that zero is an unfair valuation for Bushranger .. and so patience required there too... In the interim, POC rising further decently again thru August and September might help the - Bushranger aspect - of the s/p, hopefully..)
Very quiet on the takeaway/roast and Birdy double act last few weeks. Normally can't help himself. Hhmmmm
Delusional.
Yes that is the link, that’s easy to find.
I guess my main question is whether or not that team is still in place? I wonder, if they’ve gone why etc etc.
Q2 results released next week or week after and the model updated and shared in September or early October.
Hopefully positive news on cash balance and financial upside on BR.
The payment in shares begs another question.
When drilling started and the future looked so bright I seem to remember CB telling us lemmings that the drillers were so keen they were taking shares in lieu of salary in part payment. Were these in the form of warrants or unconditional shares ?
I wonder if they ever got them and if they did, did they cash them ASAP ?
do you remember two years ago there was a good interview with vox. colin, jeremy reid, dr *****in hills, and a person in charge of the model. forgot his name.
are these people still with the company? were they paid in shares for a while.
i’m not sure…..i guess i would be surprised if they are still there . anyone know.
Good morning Ma, I don’t ignore anyone. That would be rude. Not sure who you think I maybe, you keep fishing but you are wrong! I’m a very private person, I don’t have any other type of social media whatsoever or feel the need to reach out. I don’t know anymore than what has been put out by the company and admit any theories made are from that information, an understanding from my own research, but also just tied together loosely based on comments made in podcasts.
If anyone thinks I’m anything to do directly or indirectly with the company other than just a shareholder (I don’t see why they would) then that is dangerous. My opinions formulated are just that and sometimes not necessarily what I might actually believe. But if something seems to fit then why not put it out there to see what others make of it.
So please don’t rage ma
Oh yeah, and go do the figures on $1200 gold.
Xtract are extremely fortunate that gold prices are near $2000.
Andrew, either your a terrible investor (like me) or a brilliant secret trader.
On the possibility of a rise in SP on Q2 revenue, I don't think it will that much at all, reason being, the numbers.
Q1 140KG
COLIN AND BOARD, at the agm agreed around 65KG is approximately where we will be. They said some months would be better and some worse (obviously, its mining).
So, if Q2 stays like this, we might get an extra 40-55KG for the Quarter. That is, after exspenses and tax, £50k to £70k a month more.
Not going to send the SP rocketing, especially when BR is done and shareholders won't se a penny.
That's OK because one day, Colins reputation will be in tatters......
Could the fact the results came back from the higher grade that showed BOS tech may not be amenable for those first years, be a potential reason why the company will now not be spending any more money on drilling as to trigger the DtM AA option. As now, it will require a pre feasibility study to be based on the “whole” 512mt resource and not just the 191mt high grade early payback phase as the hope was that BOS pre concentration would have made the project economically viable from the initial 191mt.
If can recall some months ago the talk was of 8 or 9 year LOM, which would be just the 191mt high grade part that would have only required upgrading to indicated and maybe some measured, up from the 50mt ‘currently’ classified as indicated. A ball park figure to achieve that of 5-£6m+ could have been palatable Then more recently, the comment that they “will head toward pre-feasibility” does supports that theory.
Only indicated and measured resource classification can be converted to probable or proven ore reserves that a legally recognised pre feasibility study can be based on and that is the minimum that a financier requires to support financing package, which I believe that is the target that would be the requirement for the DrM as they could have then gone into the mine planning phase.
Judging by the comment made at AGM that will cost £8m to reach the 2mt target, I’m guessing the above scenario could cost far more than that, to convert all the 512mt to ore reserves and commission a PFS.
Stuff adds up that points to a sensible cut and run, but still just theories of course.
Wife on hen weekend in vegas! Can you tell?
When you consider back in May of ‘21, in a video interview Colin gave a good indication of what was expected for the DtM option to be triggered, saying,
“ once you get into the hard numbers and models, you can say we are starting an open pit and will develop the porphyry from that pit partially we”ll sink a shaft partially, so that one gets the benefit of the depth with the pit created”
It would now appear to have been a closer account of what was expected to trigger the DtM than was maybe later perceived by many shareholders including myself, in that the DtM was maybe an oz term that just meant that it would require the project to show economic viability to trigger that option.
So in that respect it could certainly be the best option now toward navigating out of the agreement by negotiating a royalty with AA.
Also worth considering, is that with the stronghold that AA has, they may themselves buy BR back, now that the project has potentially been de risked, to farm it out to a mid cap capable of working alongside AA as part developer and operator.
Got to remember, xtract have just literally scratched the surface of just the identified other targets including Ascot which could well go on to be the primary mine, as the gold and moly credits are more profound there. So a further scenario to farming it’s development out, is that although AA “at present” , for whatever internal political reason they may have for not wanting to operate in NSW, (if that is the case) they may not want to give up their overall right to exploit BR later themselves, either farming out just the ongoing exploration with a mid cap, or parking it up and doing it themselves later to prove any greater potential. In case that internal political stance may change at a later point prompting maybe buying BR back for now.
Could it leave xtract with a weak hand now both agr option targets are not going to be met. So best thing now is to just cut and run, as AA as sure as hell are going to play hard ball.
Hence Colin thinks they can get their money spent back and some more.
My rationale is that I don’t see this seemingly low value perceived as the projects true value. But can accept it maybe Colin’s, once more heavily discounted.
Hi Gordie
Been looking into ore sorting from the perspective of the waste material after a previous comment you made.
>>> It crossed my mind that there is a possibility the rejected ore from sorting could lend itself to bioleaching , thoughts ?
It’s obvious that ore sorting must create additional or increase revenue over the top what it would produce without the tech, which must also justify the investment and operation of that waste rejection step. Now of course the standard project evaluations, NPV and IRR, ultimately underline the economic viability of the chosen or preferred scenario that would include the waste cycle, but that’s one for the DFS or possibly in the PFS flowsheet am certain.
It’s clear though, the waste created, if not left on a rock dump or to be used as backfill underground later. It can be either sold as aggregate, stockpiled for cheaper processes, or put through and processed later in the operation, potentially using scavenger tech prior.
The interesting thing I read with bio-leaching is that it could potentially be far more environmentally sustainable than the usual hydro-metallurgical recovery method for low grade ore, and the fact is is a lot simpler a method it makes it far cheaper too.
All interesting but I don’t see it will be evaluated in any preferred mining scenario just yet, as the finished mining study will just give an early stage evaluation of potential economic viability, but it does look to be a strong possibility and particularly so if recoveries from pre-concentration cannot be vastly improved upon then is likely a further processing step of the rejected ore will certainly follow if of course the economics support it as it will also need to be able to increase revenue over the top of what it would produce without the process as with pre-concentration.
Economics will ultimately dictate.
Good question cheers
Howezap
I was at the AGM and CB did state RC would be a mine (no time frame) but he didn’t say 3 companies are interested he said companies like the project and then named 3 companies (I believe who have had a historic interest in the project).
To be clear that’s my interpretation of CB comments (not saying captain is incorrect), and it’s obviously a subtle (but key) difference to his and my interpretation.
Cheers
James
The Empress CEO was impressive in their presentation l thought. Wouldn't argue with her !.
Yep was a strange week, that only goes to show now that the market is sceptical about anything positive that CB says. Almost a crying wolf scenario where the market is going to have to see the results of any positive forward looking statements first now, even if CB could, and implied a firm degree of certainty behind it any belief has disappeared, from familiar investors from the CB stable anyway.
At first it looked as though the share price was going to get hammered after the ‘disappointment’ comment that was singled out, but what was ignored largely was his further comments that Bushranger ‘will’ go onto be a mine and that he named three companies that are interested in the project.
(Courtesy of Captainbob notes)
What is he implying there but can’t let on due to the AA option in place.
I prefer to think Andrew, instead of doubting that many will be looking back pleased for not selling at 7p, I think in two years many will be thankful for Colin’s early hyperbole that did just enough to drag them along, some kicking and screaming when BR is eventually sold, and for a tidy sum.
The ones that didn’t decide to bail that is!
I think a decent spike here will start with an unexplained rise to 2.5p followed by a spike to 4p on news.
Timescale is an unknown to me but it will happen knowing CB.
I'm determined to make some money here so I'll be out then and then back in on the retraction.
My opinion of CB hasn't changed, I'm just a bit calmer than I was a week ago.
Y'all have a good weekend !
Despite a few holders who seemed to have had enough and wanted out after the AGM, the SP is broadly where we started on Monday morning. Bit of U shaped week tbh.
No doubt there are still some that are looking to exit at a higher SP but the fact that they did not take advantage of the ease to sell in bulk for some time this week (MM would take 1.2M for 1.35p today and 1M at 1.3P this week ) shows that many don't see this as a basket case of a share which is only going down. When its as bad as that then its a case of jump out at any price before it falls again.
I would expect the weak hands to fully sell up in the next spike after, possibly, FB income RNS declared or maybe Economic model update? No doubt it will be a bumpy ride with some exiting as the sp moves up.
I still expect this to at least double from this level (at some point) and maybe, with a bit of luck 3 or even 4 bag over next 2 years?
That said, in 2 years time, I doubt many will be looking back and pleased that they didnt sell when sp was 7p last year though :). I hope I'm wrong but I doubt it !