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Andmillsy.. you are an extraordinarily good researcher/ poster, in fairness..make that extraordinarily squared !
And always much appreciated by me ( an d many othrs here too, no doubt)
People ask me why don't I do more of my own research, instead of generally hoping form bulletin board to board offering mostly cr+ppy jokes - at least 25% of my jokes are not c+appy imho - only.. and I offer back that when there are posters who are hands down more capable than I am then it's best I just accept my limitations and be thankful for such quality posters.. and this board is blessed with more than its fair share, thankfully..
Here's to all long and strongs doing very well here, in the end.. and me getting to 50% of my jokes being crackers, in the end.
I wonder what the historic total spend has been.
NtM
Took a look at Annual Reports to try and figure out what has been spent on BR
All spend at BR is capitalised this excludes central costs e.g. director salaries etc. There is a breakdown in the annual report of additions to intangible assets.
2020 spend £1,383k including £1,290k purchase of Prospectore
2021 spend £4,270k presumably all drilling, assays, geo phys, geologists etc
2022 estimate at 2021 run rate until 31/7 £2,500k this might be a bit high as we have been one rig for most of this period from memory.
So about in the range of £8Million.
NtM... perhaps there is the making of a new religious faith with that answer...
I can really see now how these CEO's can run Aim companies for so long as people are happy the be p!ssed on and told its raining.
he didn't say what year.. he never does, in fairness
It is a surprise screen because Colin said we are selling in April/ may and if he misses it, it will be by a month.
What do we have exactly after Phase 1 and Phase 2 ?
Towards hedging LittleWing, how about dropping the 'enough to justify' and instead just 'Phase 3'
(Apols, I'm guessing that's not the answer you're looking for either)
I agree with Egg & NTM, this seems to be a crisis generated by shareholders rather than CB. Yes, CB is not blameless but he does have to operate in the real world and promises made with the best intend can get sidetracked by world events and good fortune! Who wants to ignore what could be additional resources just so that CB can say he kept his promises?
Agree gixxer, I know I have been angry lately and it's not that I don't believe In the company or bushranger or even Colin getting us a fantastic deal when selling BR. I think we will all make substantial gains but for God sake stop telling us its soon or next month etc
If it's going to take a year then say that, if its going g to take 2 years then tell us that!!!! And if you do t know Colin.......then don't say anything!!!!!!
Colin has been hinting about phase 3 for ages. Few believed me when I said this earlier. It really shouldn't have come as a surprise to anyone , so it seems strange to me that the reaction now seems so strong. As for admitting the 2MT or whatever, this is difficult to call as it may not be in Xtr's interest to trigger the AA buyback condition until after phase 3. Maybe we are short or maybe Colin doesn't want to take any actions or release any information which may definitively prove we have the 2MT . I have no idea, but I suspect with the delay the SP will remain under significant pressure until something major happens. Even if Colin/other board members made a major buy I have suspicions that this may just provide temporate relief. my guess is those with major shareholdings here will have to wait a while before they become multi-millionaires
"More than ever now Colin your shareholders are looking for clear transparent forward guidance." - "What I have come to believe with Colin is that his communication is not poor but intentionally opaque... as that is the way he operate" A couple of very pertinent sentences LW.
Some of the LTH's may recall the big speech Bird gave when JN resigned. (I wish I could recall which platform he gave it on). It was along the lines of 'From now on I promise openness and transparency from the BoD, good or bad.
We've seen precious little of that, the same old story of missed deliverables, the moving of goalposts and many 'misunderstandings'. With Bird it's always someone's/something other than him that's preventing the long awaited SH value. In the recent BZT interview he's taken no responsibility for the SP drop. It's 'market forces' or 'impatient investors'.
Now't to do with his his own misdirection & constant missed deliverables, ofc no PI would sell because of that!
The fuss is that it is unclear if shareholders are going to be in the loop about what has been achieved with Phase 1 and Phase 2.
It is just as feasible that we are short of a sellable resource (either too low a tonnage or too low average grades) as we have actually found "billions of $ of copper and gold". The announcement of Phase 3 does not answer the fuss. Its purpose could be to bail out an over promise under deliver scenario (XTR history). Colin has mentioned the 1000 lashes just a bit too often for comfort (did Shakespeare write that Colin protests just a little too much ?). If its the troubled world that has scuppered any deal that Colin was close to pulling off then we should be told that rather than the vague "oh these markets are really bad". What I have come to believe with Colin is that his communication is not poor but intentionally opaque... as that is the way he operates. The problem may be that it worked in the past but it may not work now. The seemingly "no point in giving out good new because the markets are bad" have contributed to the SP weakness and yet it is somehow then deduced that a Phase 3 announcement is good news ? More than ever now Colin your shareholders are looking for clear transparent forward guidance. This market will not reward otherwise. So... what do we have exactly after Phase 1 and Phase 2 ? The answer is not "enough to justify Phase 3" btw :-)
If you're with Halifax you can vote via their online chat system. Pretty straight forward, 5mins...
https://m.youtube.com/watch?v=h0nLuf8KREQ
Actually, if you listen to the Alistair ford interview with the benefit of hindsight, he's spoken more truth in that video than Colin had to date.
Remember, commodity prices were not as high then as they are now.
He said any meaningful revenue from manica would not come for quite some time..... he was correct. He said manica revenue wouldn't fund extensive exploration...... correct again it hasn't and only with the commodity prices increasing will it now help fund bushranger.
It didn't fund the nearly ten million spent to date!!
I vote to have aliater ford be interviewed from now on!!! Why? Because you won't like what he tells you but he will be honest!!
Well said Egg.
And with the African Assets easily valued at v approx 2p of the share price here, around now.. you could fairly readily say the market is currently valuing Bushranger somewhere in the 10 to 15 m gbp range....
(Towards taking whatever positives when the going gets tough: That's more than has been altogether spent on it so far, at least..(I think)
Altogether, my guess is that the market is wrong and the top posters here are right.. but it's usually not about completely wrong versus completely right .. more about degrees of wrong and right.. but even half decent degrees of right can still be plenty profitable for most bets in play here.
PS: I hope to be doing my bit by topping up decently here Sept/Oct time
Can’t see what all the fuss is about. Okay we have missed CB targets, but the world has changed. We have found a massive mineralised system and fired around 50 holes into it and found billions of $ of copper and gold. If this share was worth £200m I would be worried, but it’s not it’s worth £29m - bonkers/ crazy. I’m terms of risk / reward ratio , it’s has to be on of the best on the AIM. Buts it’s the AIM very one knows the game here. Let’s get Phase 3 underway and add more value. Happy to wait a little longer than try and sell something that isn’t quite there yet especially in the current market.
agree Steve and I found the statement "Its gone over the markets head that we are producing gold at Fairbride" hardly surprising and rather self inflicted !
>> hardly surprising and rather self inflicted - Spot on!!.
He's moaning about that and yet does feck all PR - it's/he's an absolute joke to expect the market to somehow know what's happened just from an RNS. The only people that, really, read them are investors. What world does the man live in....?
It's an easy ride for him to blame the current markets when the company is doing feck all to promote assets that are actually generating income after years and years of dilution - A much bigger deal should have been made of Manica coming online.
The company could, easily, halve the salary of the CFO - Bin the, so called PR man, Alastair Ford, and get a CEO in who's actually willing to spend time on the company!
Let's hope the Sunday Lunch guys get an interview... they allow more time and actually get to push for some answers.
Awful interview. I hate the way these guys are never held to account for comments and statements made previously to the same interviewer. CB is just being given a platform to say what he wants, without any difficult questions. Clearly Zak does not want to give reason for the likes of CB to refuse future interviews, but this is just frustrating for shareholders.
Sorry
Forgot FB Rns on 22 July, but it did not read in as positive way, as it should have done.
If possible whoever is able to attend the AGM does ask a few questions of which have been discussed over last few days.
CB mentioned on GLR part of interview mentioned 1000 lashes well as far as Xtr, is concerned would say that it is already around 5000 & still rising.
Agree that on FB there has not been any full on news on it trough RNS. Unless you count around a couple of lines of which was in an RNS.
agree Steve and I found the statement "Its gone over the markets head that we are producing gold at Fairbride" hardly surprising and rather self inflicted !
Doesn't tell us anything new.
vox markets not listened yet
https://www.vox markets.co.uk/articles/trader-s-cafe-with-zak-mir-colin-bird-executive-chairman-galileo-resources-4d47b9d/