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Michu, surely a role in the Xtract board is one of the easiest around? Log on once a day to check work emails. Nothing happening so log off Teams and log into lse as Old School View. Type some drivel about Colin knowing what he's doing, trust in the BOD etc. Done and dusted before lunch. Down the snooker hall for a jug of whatevers on tap and 3 hours of cue sports. (Driving range or 9 holes also an option). 60k per annum.
Probably a from multi bar pack / not for individual redistribution typed on too :-)
Ladies and Gentlemen, I give you the one and only Mr Colin Bird
Hey NTM
DON'T You think it's HIGH time XTR announces a hefty share buy back. That would increase return for shareholders when assets get sold ❓
Yours cruelly 👿
Basr of Snickers had a sell by date of 18 months ago ;)
How about just the bar of Snickers?
Mr Bird might even invite you on the inside with an Operation Rampathon post like that , in fairness Mr Ben' Owell :-)
What we do indeed really need is for Mr Bird himself to lead Operation Rampathon forward around now, please
Double the happy tablets from May 1st, and tell us us a great Xtrract(ion) story or three please, Mr Colin Bird
"I would take 5p and a bar of snickers at this rate."
So would I, because realistically that's more likely.
Michu, this is all part of Operation Rampathon aka attract new investors to the table. I believe Jez signed up for this a few weeks back. You laughing at my suggestions completely undermines my efforts ;)
It would help if Colin decided to actually undertake some exploring IE. earn his wages.
I hope AA's PDF of historic drilling data has kept him busy for the past 6 months.
I would take 5p and a bar of snickers at this rate.
''I for one would prefer the bow wrapped before Christmas 2024, ideally at 10,500/tonne and 100-150m rather than Christmas 2026 and 200-250m.''
That made me laugh out loud.
All I can offer back to that is, April 1st was nearly 4 weeks ago now.
Listen to Mr Zap for starters, please guys.
Taking the 'happy' tablets in your - or 'his' even - 70's and 80's is one thing, but Ben 'Owell could be a youngish man in my mind... and the long term consequences from starting taking the happy tablets from a much younger age might be significant :-)
Copper spot price is not going to have a direct effect on a valuation for BR so it wouldn’t matter whether was sustained above 11k or 12k or whatever price. Is more likely a conservative estimate of 10-10.5k will be used for LOM.
Capital and Op costs however will, as they come down with an improving economic climate and optimisation. These will directly affect the NPV ongoing.
Nothing will happen until the fully updated conceptual study is complete which may include an updated JORC if they decide to increase the resource to the NW toward improving the economic performance of the financial model. They will want to include every bit of defined resource in the JORC as this is what anyone will pay for on top of the projects NPV.
Jez
You are not missing anything with your SP calculation.
But as I said I dont think we will be getting anything like £150M. If that buy out was correct then by waiting another year or so you would have all your house paid for and have thousands of pounds extra :)
But we wont be getting anything like that offer (IMHO) so its moot point. My thinking is £25M with a circa £50M IF we waited a year or so.
Andrew4444
"My concern is that we get 3p for BR but if we had waited another 12 to 18 months it would have been double that."
What am I missing here ?
If 1p is an M/cap of 8.56m, £150m would be 17.5p wouldn't it ?
That's 2/3 of a house for me. personally I'd vote yes.
"I for one would prefer the bow wrapped before Christmas 2024, ideally at 10,500/tonne and 100-150m rather than Christmas 2026 and 200-250m."
I dont think we will be getting anything like that deal as that would be 11p at £100M . If those figures were correct we would be getting an additional 11p if we waited 2 years (extra £100m). I doubt many would not go for the extra 2 years for 22p offer!
But I doubt we would be getting more than additional 4p if we waited (Circa £35m). Thats a lot of extra profit to me as my holding is in teens of millions.
I understand that some would have different views.
"Andrew, I think we are all certain the copper price is going one way"
That's why I wouldnt want CB to sell us short too soon. Yes he hasnt got that long in this game left but we are still getting FB money for another 2 years so he must expect to be around for that time period.
My concern is that we get 3p for BR but if we had waited another 12 to 18 months it would have been double that.
I've been here 10 years so an additional 12 months is fine by me (accept others will disagree)
He'll also hopefully have several copper rich assets that will increase in value as the copper price rises.
I'm with Ben, what with his age and his new focus in Zambia I think he'll be happy to offload a somewhat known quantity and move on to his favourite thing, rainbow chasing.
Andrew, I think we are all certain the copper price is going one way. However the last few years has shown us no one can predict (accurately) the speed that that will happen. Colin and many others have been promising this for years.
Therefore, given Colin's advanced years and the lack of precision in forecasting, would he be prepared to sell BR priced at 10k in the next month or two OR perhaps wait a couple more years or his 80s to get 12-14k and perhaps 50m more in the asking price?
I for one would prefer the bow wrapped before Christmas 2024, ideally at 10,500/tonne and 100-150m rather than Christmas 2026 and 200-250m.
Each to their own of course.
Personally, as mentioned before, I think Colin loves the gravy train: 125k here plus a hefty sum at GLR, BZT and AFP...
I'd hold fire with the bow just yet.
POC very likely to be hitting $12K over next 12 months and $13K to $15K within 2 years
Get the bow out Colin.
Have a read back through the comments Jackbal, that should give you an idea.
That bid is good in that it shows that there is a great and growing hunger for copper assets, bad in as much as there would be one less keen competitive bidder for commercial copper assets, hope it doesn't go through
Even a heads up to market on drilling schedule would get some much needed volume imo Bob.
Approval was given to sell producing asset to explore months ago.
Would some exploratory plans be too much to ask?
I’m bored already, can’t imagine how most of you guys must feel.
Come on Colin, just the news of a truck load sent to a smalter with more to follow could work wonders at the moment.
I cant see if this takeover went ahead it would make any difference to us.
As suggested the deal has been rejected by AA as opportunistic, I suppose with copper prices going up and up they want more! Surely someone will see eventually some value in xtr so we long term sufferers can get our investment back and a little sweetener too. For me it's almost ten years of limbo.