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why is xtract not doing as well as below.
NEW: Small-scale gold miners’ output reaches 22 000kgs
The Sunday Mail (Zimbabwe)
The Sunday Mail Online Reporter ZIMBABWE’S small-scale gold miners’ outout has reached 22 200 kilogrammes this year to date, Mines and Mining Development deputy Minister Dr Polite Kambamura has said. This comes as the mining sector targets to generate more …
Because that production appears to be for the small scale miners of the whole of Zimbabwe...
So, your question for CB is " why is XTR not producing the gold output of a small country".
I have to admire your ambition :)
....And because Fairbride and Alluvial Gold production is in Mozambique, not Zimbabwe
CB has two or thre places in africa not just in Moz
"CB has two or thre places in africa not just in Moz"
All we have left on going in Africa now is Eureka and that's predominantly Copper project, not Gold.
I mean in Africa and outside of Moz
Was a post at 10.54 deleted this morning?
yes there was. Can look it up on his history (S0477)
http://angrygeologist.blogspot.com/
Actually great source if info from this chap, although he's not posted in some time. I msg'd him BR, be interesting to get his take on it...
Yes, post was a link to latest Empress presentation and predicted production level (from Empress). Apparently any facts that contradict the XTR version of reality are no longer permitted on this bulletin board.
https://empressroyalty.com/site/assets/files/6298/empress_royalty_-_presentation_-_november_2022.pdf
Check slide 13 and see what Empress believe will be production from Manica. They state what they will receive as 3.375% of production. That will allow you to calculate total production. Posting that calculation is apparently trolling or disruptive and your post will be removed.
Based on your quidwnce steve.... xtract will receive 10.4 million Dollars a year.
You said dani was right and it's a royalty well......3.375% @1.5m is 44killion and xtracts share is 10.4.
Here is the original post from this morning:
"There is a new presentation from Empress Royalty. Manica is on Slide 13
https://empressroyalty.com/site/assets/files/6298/empress_royalty_-_presentation_-_november_2022.pdf
Their royalty is 3.375% of headline revenue, which they estimate to be 866oz per annum or $1.5m at $1750 oz
So Empress apparently believe that annual gold production will be 866oz / 3.375% = 25,600 oz or 727 kg. That is 60kg per month, rather than the 100kg quoted by XTR.
I did some digging to figure out why there was such a large difference and found this presentation from April last year
https://empressroyalty.com/site/assets/files/6157/emprnr2021-13_manicaclosing.pdf
The JORC gold grade is 1.8 g/t. Full production is 42,000 tpm, or 504,000 tons per year. Assuming 100% production 365 days a year with no disruption for rainy season, that would be 907,000 grams, or 32,000 oz. Empress are using exactly 80% of that number, probably as a 'realistic production' number.
I think the XTR numbers come from a DFS about six years ago, which focused on about a quarter of the JORC, but with a grade of 2.62 g/t. That was produced by XTR before MMP were involved, so I don't know to what extent it is still valid.
Finally, the Empress numbers are probably averages, so there may be more in the first year or two perhaps, and then less over time. However, there is still an obvious discrepancy between XTR production estimates in interviews and Empress numbers in the corporate presentation. That may be why investors are waiting to see production level before deciding on the potential value of Manica."
Steve, your no longer invested. Why are you still here?
For someone so incredibly smart.... you only post about some rubbish company called xtract.
Just because I am not invested right now, doesn't mean I won't re-invest in the future (as I have stated in previous posts). I thought it was worth checking out the Empress presentation on that basis. If you have any issues with the calculation, please point them out.
Must admit steve, your the best Ive seen yet.
Although be quick, because this entire discussion is likely to be deleted tomorrow morning.
Every right to question the companies forecast, I ‘don’t’ doubt your calcs or reasoning and your conclusion is arguably a fair one Steve. For the original post to be reported and subsequently deleted seems a bit much though and without any challenges to your findings just smacks of a form of you being singled out now of the back of one other post.
To be fair though it was a f****** corker ;-)
Not got your buy back in price yet steve?
Where/ when did XTR quote 100kg which RNS was it in.
Someone said ignore everything not in an RNS.
2021 Xtract shareholder presentation reference.
Page 27
>>>Aim to initially produce 215k ounces gold at 2.62g/t Au over 7 years (30,000 ounces per annum)
Which is in line with Empress ceiling of production expectations.
So as usual is Colin just doing his thing and by rounding up. Ahem
https://xtractresources.com/wp-content/uploads/XTR-Presentation-14.10.2021.pdf
steve, the only part of your post that has any relevance was the bit, " So I don't know to what extent it is still valid", there's not one bit of new information in your post for anyone that's been paying attention over the last few years, and understands the difference between the word's "Should" , "could" and "will".
The 'flag' Steve is raising is nothing we don't already know i.e. don't rely on numbers unless they appear in an RNS.
We know CB is stretched across too many companies and he clearly goes into interviews without preparation, notes or a game plan. You can tell he is trying to remember numbers on the fly and he often makes mistakes.
Bottom line remains the same though. This is a junior miner that will very short have enough income to avoid future raises... providing they don't do anything stupid like buy another expensive project before getting Bushranger over the line.
New tech to lower costs of rock breaking.
https://www.ft.com/content/bdedd7de-94fe-409b-adf3-43c6e201c86f