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Assuming no discussions are underway in the background, why do people think that CB has not had any cozy chats with Zac recently? Is he saving himself for a big drumroll event soon? Or does he maybe think the the recent RNSs don't require any explanation to the market? Or perhaps some other reason? I would have thought some clarification of the RNSs and comment about timescales etc might have been useful to calm jittery nerves, but what do I know?
Is the AA deal time over?
''CB said "by end of April or May - June latest". ''
But he never said which year, in fairness.. So that's another 'get out' :-)
Generally, if Ascot early drilling indicates' game changer' potential..... and I very much hope it does.. then i'd guess they'd be an extended drilling camapign at Ascot over plenty of months forward.. and I'm fine with that.... and I'd also guess that a sale event would be for Bushranger as a whole
Glad you re-read your post.
Woops that should have read - he's bashing XTR and telling his chums at VAST to filter the bashers...
Does he not even consider we can see his posting history... LOL
This Clown Rick123 is bashing the SP on XTR and at the very same time telling his chums on XTR to filter the bashers...
Beyond belief the arrogance of these people...
You are the only one who thinks your chances are high. I would filter you but Rick but you will be gone as soon as Manica news hits..... so I don't have long to put up with you.
GLA
{YAWN}
To any newbies out there, the price of XTR will drift slowly downwards as there will not be news for a while. Yes there will be an optimum time to buy and we will not get it absolutely spot on, none of us do. However, I am waiting for 3.5 may not get it but I think my chances are pretty high. GL and DYOR.
I think that it’s worth remembering that the RNS’s that the company issues have to assume business continuity - ie working through the stages from discovery, pre-feasibility etc. So there are likely to be inconsistencies between the steps that the company is taking and officially reporting on compared to what is going on behind the scenes to prepare a sale package. And whilst most on this BB are optimistic about the likelihood of a sale, the ongoing weakness of the share price may reflect others not being as convinced.
Get out while you can
Maybe if there is so much untapped potential here the best way forward would be complete sale of Racecourse now...... followed by the kind of optioneering deal AA have done with ARCm for the remainder of the licences..... I.e. AA agree a relatively small up front payment for unfettered access to the remaining licences to drill but they commit to an extensive drilling program over the next 5 years.
If most of the Racecourse sale was to come to XTR shareholders as a special dividend..... then the ProspectOre company could be used as the vehicle for the JV for the remainder.....
Well.... its just a thought internet people
With the steps Xtract are taking to put a saleable asset together, it far better IMO to have significant gold to support a healthy financial evaluation than identify another porphyry.
If we go back to the original conceptual pit webinar, Jeremy Read is referring to the Boda discovery and commented on their high grade gold, long intersection breccia zone that he believes will make Boda economical. Bushranger modelling will ‘hopefully’ show anyway, that RC will be economical, Ascot gold if big, will make Bushranger ‘very’ economical and desirable.
I think we got a hint of the greater potential of Ascot over racecourse when Colin quoted , “if we had found Ascot first, maybe things would’ve been different.”
The Ascot gold could well prove to be project changing, the system would require tighter drilling intervals but if proven is extensive, would no doubt add to value but more importantly, what would make the project as a whole significantly more economical on start up as can be mined early to return CapEx quicker. Intersections are relatively shallow and will only get shallower the further they extend south east.( thanks to theiceberg summary)
To me the bonanza are the gold systems and other accessory metals that will cement bushranger as a serious proposition for any major.
I agree that the possibility of its all done hence drilling finished is unlikely. That why my best guess would be: declare 2mt, then pause, maybe then more work on ascot, then finish off RC to complete open pit.
Thats why I think Cbs timescales will be, as ever too optimistic and I think July will be when open pit model will be completed.
That said, CB can always "play the joker" and declare we've found a " bonanza" and then all timescales are re set
Can you believe Mrs S had the cheek to suggest I take her food shopping! I told her straight, no way, I was in middle of a serious discussion.
Anyway ……I’m back now!
I get you now Andrew, we are on a similar page then, although me in terms of returning to RC to close off as per my post @17.23.
Just seems too tall an order to have closed off RC to north and all southern extension, have assays returned at minimum 6 week turnaround per hole, resource modelling and conceptual pit with studies including financials to support decision to mine for ‘RC alone’ all by June latest. Considering they don’t appear to have gone back to it yet from RNS’s.
Just a reminder of the southern extension anomaly of RC from historical (old) geophys
https://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf
If CB said a month not quarters, then thats probably why June was in my mind.
This is what the RNS stated:
"The modelling will require the conceptual open pit to be closed off in ALL directions in order to ensure that infrastructure or tailings dams are not incorrectly positioned over what is a continuing ore body."
To me, that reads that to complete the model we can't stop drilling when we are at 2mt as we need to know where the infrastructure can be situated before the model can be completed.
That doesnt mean we cant declare we have 2mt, pause drilling at RC and do more at Ascot before going back and completing RC? But my understanding is that the model can only be completed after we know the boundary of the open pit so 2mt is not a criteria in stopping drilling??
Of course we may have stopped all drilling at RC as it is now all closed off and we are going to get the announcement of 2mt+ and model done v soon. In which case CB will have kept to his original time scale of end May.
A number of possibilities and interpretations and I'm only guessing of poss outcome.
He said it would be by a month and not by quarters
Seems to be a reliance on what CB has most recently said.
Nothing wrong with that I have done so many times myself but bear in mind in early jan he stated that once Anglo see that RC is enveloped with 2mt, they will be happy. And with Ascot drill 4 or 5 boreholes, 3 if we’re lucky, to say, there is your other porphyry gentlemen.
CB will say what suits at the time to stir the market to sit up and take notice.
It has been stated in RNS that RC needs to be closed off all sides to model the pit. But with no apparent drilling as yet to southern extension maybe that will be finite for drilling if or now that they can model a resource with conceptual pit of just 2mt without the requirement now of more rock from the southern extension, and a decision to mine if it shows it can be mined economically with financial model.
This is why the focus is on drilling Ascot with potential end of drilling as soon as they are satisfied there will be adequate value added to the whole package.
Is this your thinking Andrew, particularly regards to RC?
Gordie
You may well be right.
I may have misremembered the "weeks" statement as being June. If he did say weeks then that gives him a bit more license to slip past June imho
Obviously CBs get out of jail card is the qualifier that timescales are subject to not finding another "Bonanza"
You could consider 2 significant gold intersections pinpointed from first few assays from Ascot as quite a bonanza!
hi, what i heard was .....end of april or may, but if its later it will be by weeks and not quarters . and the drilling will come to a finish ..... unless we get another bonanza........... or words to that effect, gordie.
"Very much aware of CB's statement that conclusion would be at the very latest in the month of May"
CB said "by end of April or May - June latest".
Add on the CB factor - I'm expecting announcement in July. Mid June at the earliest.
More than happy to be proved wrong.... and I mean by being too pessimistic - not too optimistic with July :)
By the time i transferred funds todsy it was too late, i missed the boat at 4.85p . I' ready if it starts off with a drop again tomorrow. Very much aware of CB's statement that conclusion would be at the very latest in the month of May. Well my frieds we have 11 days until fruition. Tongue in cheek, i hope not. Lets see if he is a man of his word. A very intresting 11 days to follow.