Firering Strategic Minerals: From explorer to producer. Watch the video here.
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We are used to hearing near radio silence from Colin over the summer- he seems to escape the oppressive Emirati heat and relaxes (with YOUR money) in Europe. 5 companies in AIM and we barely hear a peep from any of them during this period.
This mean he typically ramps either side of summer. Except this time its different. The market isnt as bullish as it was before and it has grown fatigued of Colin's **** . Not even a ramptastic interview on Roast and some bullish RNSs can create any sort of enthusiasm. You can hear the desperateness in his voice on his most recent interviews as he is desperately trying to create another big bump in the SP, of the back of which he will raise money from a snap placing, and then he gets to keep the company running and of course, most importantly, the salary that allows him to live in expat luxury with our money.
He must be having sleepless nights now that nothing he seems to say excites the market anymore
All his businesses are stuck in thick mud now it seems- all turning into the usual blind ends that are characteristic of Colin Bird companies. Its not just in XTR- its well worth spending some time and seeing whats going on in the others.
I dont think it is a unreasonable to extrapolate from other companies ran by the same man.
BZT is maybe the best example- CB ramped a Cyprus project that was finally going to give BZT some cash generation- the partnership was dissolved a few months away from supposed kickstart of the project. Likewise, Mankayan in Phillipines- ramped hard by Colin Bird- the original partner pulled out. Kalengwa (known to XTR as well)- gave some suspicously high hand held assays which were later shown to be **** when the lab assays came back. Kanye manganese, was bought by BZT- eagle eyed investors realised that CB was also a director of the company that it was purchased from- he claimed it was 'drill ready'...2 years later. That leaves BZT with Hope-Gorob copper-gold- they have been drilling there for 2.5 years 'allegedly'...in true Colin Bird madness- he has applied for a mining license when they are nowhere close to any sort of mineral resource.
XTR, Galileo etc etc. Its the same story as above. How can one man be so unlucky that all his projects run into major problems or fall apart. As I said in a previous post- either 1) he does not do due diligence 2) the projects have little real potential and are just designed to keep investors hooked so he can keep on receiving a salary that allows him to indulge in his horseracing hobby and live the life of luxury in Dubai. Either way, its not good.
How long can the AIM regulator keep on ignoring email warnings flagged up by people? They will be hung, drawn and quartered if anything materialises and it was found that they did not pay heed to investors.
I really have a feeling we could be seeing the end game of Colin Bird and his nest of so called 'businesses'.
>>>I really have a feeling we could be seeing the end game of Colin Bird and his nest of so called 'businesses'.
What utter nonsense. And to prey on people’s emotions that are no doubt worried in these times of global economic uncertainty is clear you are not a very nice person above all of your other failings.
From the same person that told us previously we should ignore the fundamentals.
Kwaks share price examples do not take into account dilution, and subsequent development of, or further assets acquired in that time.
The man does have a point though. I would of sacked him by now. All l want is for my investment to grow and my trust in him to be recognised.
It's far from such a grande finale here:
CB is playing for time around now, waiting for Mozambique Income to get to a level where it can fund another round of Bushranger drilling.
If I had a choice between waiting another few months or doing a raise of a few million at anywhere remotely around the 1p area around now - to do next round of Bushranger drilling - i'd take the wait another few months option ever day of the week .. week of the month .. etc..
Latest date the Q4 results should be out is by Thursday next week - hopefully sooner.
Although alluvial's are running down we may see an increase in BE and GF production. If so that may start the very slow rise back-up?
If not, as NtM says, its a case of waiting for the FB income to be declared. I would think CB would want to get some good news out before the AGM as there are going to be many disgruntled SHs at the AGM if the sp is around this level when the AGM takes place.
(I'm being kind when I use the word "disgruntled" - may be f@!*#ing furious is more accurate :)
What's with the sudden 9.6% dip
Does someone know something we don't
Its down 3.7%
Total volume of trades is about 650K which is 0.07% of total shares in issue
I can sell 500K so MMs still will buy
Strange it's now up
Doc
I suspect you are looking at Google finance. That records the sp as whatever the last trade was so if it was a sell it may be 1.22 but if it was a buy then 1.35. Thats why the SP appears to move up and down so quickly.
I would ignore google finance as its complete misleading for current and true SP. Look at Advfn which is free and gives you the real time trades and real SP. LSE also does that but its 15 min delayed
I make you right Andrew
Got a little excited to top up again
Bird's going to need a security team at the AGM at this rate!
What a feckin shambles.......
Maybe conveniently test pos for covid and stream from 'is 'ome in Dubai ?
Or change the venue for the AGM to Ascot ...and when sundry attendees turn up in the big room there, CB video links in from an outdoor lecturn a top the Ascot Porphoryy down the Bush(ranger)
(A cheaper option than the amount of 'security' that might have been required for a face to face even ?)
A fair synopsis from this AM NtM , as from the offset of phase 2 it was necessary to have the funds in place to cover the contractual obligations of that exploration phase. So is likely a similar approach will be adopted for the ‘optimisation’ phase.
One obvious scenario is the company have gone into care and maintenance with a trickle of news to string it along until there is a change in ‘market sentiment’. Any decent reportable news you would think just be wasted if there is a lack of general investor confidence overall.
However, maybe not all so intentionally, as the updated conceptual study is having to be reworked.
The grinding mill is usually the bottleneck in the grinding circuit and can determine the total capacity of the processing plant. Waste rock occupies space in the ore fed to the grinding mill, thus lowering the mill’s ore grinding capacity ‘and’ determines the required concentrator’s production rate.
So with bulk ore sorting, there needs to be a complete re-evaluation of all of the concentrate production capacities not just wether or not the ore type will be amenable to the technology and what the increases in head grades will result if so. The ‘whole’ circuit is affected which is why the study needs to be re-worked which takes time.
Don’t mean to jump the gun, there is no certainty RC is amenable to BOS so is dependent on. Would hope the pre-concentration study would be reported when its findings are known.
I fail to understand how whetever i read the news headlines clearly indicate a big concern re copper shortage. The message is clear. Therefore surely CB has put it out there of the discovery in Australia. So why has no one bit the mans arm off. We know it's got to be viable with such a concern. It would be a bargain presently. Saving a fortune if copper price takes off anytime i might add. Further more he has decided to drill additional holes. Why i ask re his previous statements. Since the decision however, there has been no forward movement. I.e. where's the drill. Is it coming. Do we have funds or are we waiting for cash to come in. When is the planned commencement???
It's no wonder that our share is dropping day on day.
I guess we might understand a little more on the forthcoming report in the next few days. There could be a reflection from the share activity on what we migjt expect. So far, not good.
Andrew4444 - do you know when we are having an AGM?
Hi Docit
>>So why has no one bit the mans arm off
Typical porphyry low grade deposits are more cost sensitive as they require lower cut off grades to be economic on start up, than other ore type high grade deposits that can be profitable at much higher cut offs so there are potentially less financial risk involved in acquiring earlier on in the life cycle of the discovery. Unlike huge low grade deposits such as BR that need a viability study to support it before an interested party would consider buying. Porphyry deposits are more favourable due to their long mine life. But they require a mineralised parcel that initially makes them economic to pay back CapEx. Cadia had good gold, Boda has a very high grade breccia zone that goes to surface and BR has the high grade crowns with further potential to be optimised by BOS.
Until there is a positive economic study it’s unlikely an interested party would consider taking the project on anyway. With the legally binding buy back agreement that gives AA first refusal, any acquirer who wanted to buy would inherit the agreement so it would deter such actions.
So until one or both of the AA options to buy back in are triggered and the agreed mechanism toward a buy back decision has been made, the only way we could sell to another party is if AA declare they don’t want it.
Agree though, the funding of and the extent of further drilling are the uncertainties at present. Although they have already, or are currently still planning the next drilling.
It has to be held within 6 months of the end of the last FY - so by 30 June. Probably on Friday 30 June as CB may want to leave it as long as possible for sp recovery and FB ramped up ??? If earlier then still in June
We have to have 3 weeks notice.
Rules were relaxed during covid but my understanding is that we are now back to pre covid rules.
The fact the AIM market is in a mess around now ...and copper prices are decently short of where they may readily go to.. and CB needs time to get enough Mozambique revenue in the kitty to allow next phase BushR to go ahead.. could be seen as getting all the bad noise out of the way - braodly - around the same time, Howzap.. indeed thats how I choose to see it.. and if all those bad noises turn to good noises - even kinda- braodly around the same time, then we'll genuinely see game back on here .. allowing happiness return for many- currently suffering - holders here, I'd expect/hope
Thanks howezap but according to Sunday roast we are viable and are hung up on this 2mt as they suggest. If we need to drill four more holes to prove things up, then they should get on with it as there appears to be no plans to do so. Seems that we 're dying by 1million lashes not 1k . If this turns out to be positive then those topping up at every drop stage will be in line for a massive windfall. I still believe this will turn out to be a good story and am one of those that tread where eagles dare. Would just like to see a reprieve for once and wake up to a positive share move. This board was buzzing not so long ago and that was great to see. As i said we will probwble know a little more in the next week
"I still believe this will turn out to be a good story ..."
That's also my view but I suspect that will be as much due to the very high POC over the next 12 to 18 months than anything else. We may need $10K + copper to make a sale and that is not what CB implied.
Unless we get a sale at current POC then my view will be that CB has been coming out with BS over the last 2 years even though we still may do well here. But that will probably be mostly due to the high POC .
To be brutally honest Andrew i really don't give a **** how it happens as long as it does and we all make a pretty packet. For me, i want to take a couple of years early retirement. CB make it happen please.
Hi Docit I’m wondering where you have got 4 holes from?
There was mention that core samples were sent from 4 ‘previously’ drilled holes for analysis toward the pre-concentration study that determines if the ore is amenable to modern ore sorting technology. The updated conceptual study will then be completed once the results of that pre-concentration study are known.
The further ‘optimisation’ drilling will ‘not’ commence until after the updated conceptual study is back as drilling will be directed from the outcome with recommendations toward increasing tonnages, NPV and further value.
I think folk need to understand the ‘potential’ work that is still required toward getting to pre-feasibility. CB stated himself that it is what they are working toward.
There has been too much false hope given by CB in the past through whatever reason. He appears to have now been bucked that trend in most recent podcasts.
howezap, I was wondering the same thoughts about the 4 holes. Like you I think this is a mis-undestanding of the 4 core samples. I'm hoping that the new drilling will pad out Ascot and conduct new exploration on the anomalie west of Ascot to get it to a similar status as we currently have on Ascot. Maybe even a handful of holes to fill in gaps in Racecourse and another dip into Footrot. Happy to wait if it means finally getting close to that 2MT. In the meantime there's the opportunity to top up at prices lower than when we did not have income or 1MT + of Cu in the ground.