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A strong RNS and statement saying we have 2mt modelled but want to spend 3 months drilling out Ascot before formally triggering a buyback would go down just fine.
Gixxer
I hope not, but you could be right. If we dont get the final model all complete by end of july then I dont think the market will like that.
Not after CB going strong on him not missing targets and not a death by a thousand lashes. he usually throws in a few hopefully, possibly, aiming for etc to cover himself with timescales.
He did not with RC open pit model timescale.
I take it as a given. My assumption is the same about the 2 million target. Hence why Ascot could be a game changer - or not.
did he say April/May but not a year for JLP's Tjate ?
I am still waiting for JLP's Tjate to be developed. 5 years is nothing .............. - There does appear to be a pattern of missed deliverables with any company Bird is invested in.
After reading the 'interim' statement today, I'm getting the feeling they are struggling to meet the 2MT target at RC and are relying on Ascot to meet - Despite what Bird has been telling us/the market for months.
I'd be very happy to be wrong on this but experience with Bird leads me to think otherwise...
thisgoesdowningo etc.. will be back with April / May 2025 off the back of that post Gixxer :-)
(like further improving your abs by moving from the 6 mins abs work out video to the 7 mins abs work out video.. and improving again by moving onto the 8 mins abs work out video .. etc..)
I am still waiting for JLP's Tjate to be developed. 5 years is nothing ..............
Lets hope it's interim because of the fantastic opportunity afforded by Ascot as apposed to not making 2mt target at racecourse and needing more tonnage. Over to you Colin.
'April /May 2024 Gixxer !.. an OUCH for even a patient type like me there :-)..' - Considering Manica is almost 5 years behind schedule I wouldn't be surprised NTMU
'So we may find the open pit announcement is end June / early July - at the very latest.' - Not feeling that at all A4444, if they were so close to a final model, 4 weeks or so late, what would be the point of releasing an 'interim' model. Would seem like a complete waste of work to me...
April /May 2024 Gixxer !.. an OUCH for even a patient type like me there :-)..
...how about a compromise: six month hard core run at cracking Ascot funded from Africa Gold revenue and a sale of the job Bushranger lot in April/May 2023.... And, as a brucie bonus, that would be CB's closest ever to on time versus his originally offered delivery timeframes, in all the years I've been involved herre anyway !!
Cb did caveat his "end of may" comment by saying we may miss it by a month (worst case) but not by quarters.
So we may find the open pit announcement is end June / early July - at the very latest.
If he does not make an open pit announcement by Mid July absolute latest and tries to distract shareholders with talk of ascot drilling and how great that is going to be, then I doubt the market will respond kindly to that.
Esp after he emphasised that he will not miss his target (caveat by more than a month) many times and it wont be a death by a thousand lashes.
That would really be giving the naysayers plenty of ammo !
3CB, I would be inclined to agree with you had this been the the original deposit and the only thing in the ground.
Truth is anything in this zone is an added extra so I really don't see a downside in the same way.
Call me an optimist but I also refuse to believe that they hit the best gold results on their first few holes. Guess we will see what comes of it soon!
Hamster. Perhaps it just means this board is becoming more balanced with a good mix of heads in the clouds and feet on the ground.
It's still May until next Tuesday.
So Cu Next Tuesday !
Just a joke, couldn't resist it, no nastiness intended.
Also not seeing anything spectacular from these assay results, especially if it's expected to be a gold centric system. It's early days though in terms of results from the Ascot system.
'We intend to issue a release shortly that gives an interim summary of the Racecourse and Ascot prospects.'
An interim summary?? - Based off Birds comments, in the last few months, is the market not expecting a final open pit model and mine arrangement for the RC system? We were told this would be released April/May, Bird even specifically responded to comments on the board regarding a late deliverable that 'it would not be missed'.
It seems, once again, he moving the goalposts. Or possibly it's another misunderstanding eh CB you actually meant April/May 2024?!
Several posters seem to have heavy grey clouds over their heads today..bless
Iceberg, thats great if it comes to pass. Really don't want the co to get distracted by gold fever. Complete the model, close the pit boundary, trigger the buyback. Colin can hopefully explain next week how these extra holes are coincident with the objective. Noting several times he said this wouldn't be a death of thousand lashes i.e. I assumed holes.
No doubt interesting, but very expensive to keep exploring Ascot for a company like Xtract. Not sure how much value a major would attribute to it if throwing it into the Racecourse deal. As for SP, what has changed between December and now on Racecourse? Back then we were expecting modelling to be complete around March time with discussions and possible sale occurring within a couple of months of that. Since then assays have not provided additional confidence re Racecourse so one (or at least I) wonders if statements made around December time were based on assumptions that the outstanding Racecourse assays would be better than has been subsequently proven. I expect most here were very much hoping for SP appreciation and a sale rather than interesting results warranting follow up work and questions over how that will be funded against a declining SP.
Don't be so hard on yourself 3CB, you were right the first time...
Typo. "Don't know if I'm missing something"
Do know if I'm missing something here but I am in agreement with Art and John. These au assays are very modest and very deep down. Gonna take a hell of a lot of Cape to recover this amount of gold at such depths.
These grades are tiny tiny compared to recent authors grades from GAL and their sp has hardly moved of late.
I may be wrong but I assumed we all invested here to make a lot of money from the sale of a 2mt+ copper porphyry with reasonable grades. With no cu and very modest grades this looks more like a distraction to me.
The excitement is the separate gold system. We are finding decent widths of gold and decent grades in places. Not at the same time yet, but likely only a matter of time since there is barely 2-3 holes released yet for ascot and we have 10-15 or so now drilled which we are awaiting results on.
Also the reference to ridgeway.
John S. A big over reaction to the last 2 rns's and the share price nose dived to a price just above the level it was at before the ascot discovery. How can ascot be worth nothing to the share price. The share price had to bounce from the 4.5p-4.6p region unless there had been some unfavourable news at that point. What would you say was fair value for the share?