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They are getting a lot of flack over at BEN. They have been ramping BEN up for some time and it's now gone into administration today
As I said recently, they are just as bad as CB, but it appears they are now getting found out ...
As has been stated here before, the roast boys get paid to promote companies so its not unbiased independent analysis .
For accuracy, I should have said in suspension and they are considering options available to them, which may include the Board deciding to appoint administrators to the Company.
so not a great share tip :)
Sadly, the point you might well keep coming back to is that AIM is a cesspit.
(I've been around more of it than the vast majority, I promise.. and unless you include trading and shorting - btw I don't short, so far - in your armoury it's often kami kasi stuff , alas)
While, in the round, I don't rate him any more than averagely, in fairness to Mr Colin Bird, he's still far from the worst of them - Execs - on AIM
Hey DREW and NTM
Here is my penny worth on BEN.
Writing has been on the wall for months. So why the Toasties and other investors didn't see administration coming is beyond me
MCAP £699K
EV £25M
NETT DEBT £24.3M
plus losses YE 23 (£21.3m)
TTD 24 (£26.4m)
Good exercise would be Todo quick analysis on all companies Toasties are promoting ❓
Yours cruelly
"Good exercise would be Todo quick analysis on all companies Toasties are promoting ❓"
HZM has gone the same way. Sums up AIM at the moment.
Have written extensively on HZM too. Writing on wall exactly like BEN.
POINT trying to make investors can discard this HIGH risk investments by studying the fundamentals.
What is the BIG differences between XTR & GLR compared to BEN & HZM❓
Answers Nett Cash on balance sheet
Business model - CAPEX light
The answers puts XTR &GLR into low risk category
The "low"risk point might apply to some of their assets. Luansobe open pit and Silverking being case in point. But as NvS of ARCM said about exploring for copper in NW Zambia "it's like looking for a needle in a haystack" (taken from memory).
But agreed, the balance sheet is always number one.
Flip
Low risk is subjective.
Only studying Silver king at present. Correct me if I'm wrong but
Silver king. Resource containing 267K ton contained CU
Silver king License cost to XTR is zero
🎈To earn 55% of licence XTR needs to pay £500m of drilling and increase resource to 300m cont CU.
RISK To above happening The Bird is blind as bat and loses the plot.
Agree balance sheet is No one in calculating risk v Reward
Yours cruelly
Yours cruelly
500m on drilling lol 😂
If only we had the funds
Quick cru, stick this in . before some bright spark accuses you of putting up another post that has no point!
🤷 😉
Ma - I will leave the number crunching to you. My hope is that at least one of the Group will strike it big in NW Zambia. The geology is promising . On a recent SR podcast it was noted that FQ had approached Colin about joint venturing with the XTR and GLR licenses. Given their work on the AFP license then I would consider that a positive. But still very high risk and possibly no reward. The dead certs like Bushranger are no more .............
5M NOT 500M !!
Cruella I've got you sussed now.
You're Diane Abbott aren't you ?
you ****s id jez zap flip
not £500m should have written £500k
definite typo. why didn't you acknowledge that and ❓
BTW who/wot is Diana Abbott ❓
Diane Abbott would probably not list her looks as her most defining thing...
With the analytical abilities you display here, perhaps you'd feel similarly about yourself, Cruella...
“you ****s id jez zap flip”
Hey cru, I ‘was’ pointing out that you missed the decimal point in front out! Personally I thought my joke was quite clever.
Irish, cru was referring to Silverking that has initial US$500k buy in with further, up to a US$1m invested to then increase xtr interest up to 70%, subject to Cooperlemon's right to maintain its interest in the Licence through an option to earn back up to 70%
I take that as, if they ‘were to’ share the outlay of the second phase half a million each then Xtr interest in the project will remain at 51% as per the initial buy in.
Anyone agree that makes sense?
I agree so long as Diane Abbott is not involved !!
Got joke zap
Post with no point very clever!
Am funGuy cru is why I can’t be filtered into one of those little green boxes as there’s not mushroom inside.
Out of interest zap if bushranger prospect was up for sale today how much could it fetch?
If I remember correctly XTR paid £1m during COVID
Cru
Hey zap
Another out of interest question.
If XTR achieves 500k T contained CU at silver king with additional £1m investment then what would sale price be to major at current price of copper?
I understand that if phase 2 drilling costs is shared with copper lemon then they have 70% ownership of Silver king. Just asking to get an estimate of value versus risk capital.
Am I right in saying that silver king is to be put in production and not sold?
Thanks for your time
Cru
The Right Honourable Cruella De Baker.
" Does the Right Honourable Gentleman agree with me that If XTR achieves 500k T contained CU at silver king with additional £1m investment then the sale price be to major at current price of copper would be mahooshiv?
And does he agree that if phase 2 drilling costs is shared with copper lemon then they have 70% ownership of Silver king and we would make oodles of wonga ?"
Cruella's Question Time.
Pointless to put any valuation to BR without a viable study to put to AA, just have to be patient on that one to get an outcome.
Readng between the lines of the agreement for silver king, the intention is to sell it if a resource is found of over 500kt. Under that, it may be developed by both parties as a mining operation.
The second phase buy in, if spend is shared 50/50 then xtr would stay at their 51% stake they have from the phase 1 buy in. Alternatively, if or whoever stumps up the whole USD 1m then that party would increase to 70% for a resource up to 500kt Cu.
Over 500Kt and only ‘if sold’, it reverts back regardless to 50% sale proceeds ‘each’ minus sale costs that CL pick up with some other caveats before being equally split thereafter.
Too early to talk about valuing, but the higher the resource found will see the less risk with less capital spend with greater short to medium term reward with more chance of an asset sale over a development case.
Unfortunately with XTR, it's always "too early" to tell or "just another 12 months". It was Easter '22 when the bow was supposed to be wrapped and 10p would be rejected. We are now 4 years + since BR was acquired and it's been mothballed for the time being. Where is the value going to come? More drilling here, more drilling there. What's the end game? Is there even a strategy to get shareholder value or does CB not care? I have no idea how Colin plans to get the share price back to 6p? No buy out on the horizon and drilling results months if not a year away. He always said he wouldn't JV but now he's done exactly that...