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That aside , can anyone still imagine a 35p valuation for the whole project?

Yes and the ramping was all about RC

Steve. At the time it wasn't being sold to us as RC, Ascot, Footrot et al. It was all about RC.
I'm sure if we drilled the whole of Australua we would get to many many multiples of 2mt. But would that make it a world class asset?

Probably best not to take everything Bird says at face value. See attached from RNS today on Xtract.
Roughly half the amount of contained copper that he has been spouting on about for months.

"For immediate release

23 November 2022



Xtract Resources Plc

("Xtract" or the "Company")

Racecourse Prospect Updated Mineral Resource Estimate



The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce an updated Mineral Resource Estimate for the Racecourse Prospect, on the Bushranger Copper-Gold Project in central New South Wales, Australia. Utilising all the data from the recently completed Phase 2 diamond drilling programme, independent consultants, Measured Group Pty Limited ("Measured Group"), have prepared an updated Mineral Resource Estimate for the Racecourse deposit.



Highlights



· Following the completion of a substantial drilling programme by Xtract, independent consultants, Measured Group, updated the historic Inferred Mineral Resource Estimate for the Racecourse Prospect, which is now reported as 512Mt @ 0.22% CuEq*, at a cut-off of 0.1% CuEq, containing 1.1Mt of copper equivalent metal and classified as Indicated and Inferred in accordance with JORC (2012)

· The Racecourse Mineral Resource contains 50Mt @ 0.25% CuEq which has been classified as Indicated in accordance with JORC (2012)"

Terrible result (compared with expectations set by Bird).
But it doesn't just condemn Bird. It also condemns the usual rampers on here who for many months vilified as trolls, anyone who dared to question their fanciful valuations of up to 35/40p.
Seen it so many times on AIM.

Couldn't resist another small top up at 11.597. Stupid prices. That said. Might be wise not to follow suit just yet as usually sp falls after I buy. Lol

Money. The SFR payment, if it comes, is a maximum of 80m. I would suggest that we would be a little delusional to assume we will get close to that figure. That's how majors become majors.

Expect to see some more share options issued soon.
Does Sven get to keep his?

I'LL be sitting on the kitchen floor too.
And I haven't even got a dog.

Sold at a loss yesterday at 210p, having recovered over £2k of losses in last month. To paraphrase Warren Buffet. Never be afraid to take a small loss.
Expecting these will retrace a bit so hopefully not too long before back in. Maybe even before XD date.

MM. Looking at Luansobe RNSs, they talk about potential 20mt based on 2.5%. Just for clarification, are they saying 20mt of dirt containing 2.5% CU, ie 500k tons of CU?

Agree with most of that Aug. And yet given all the faults of the modern Tory party, I still cannot dare to contemplate the alternative on offer.
Having utterly shafted the popular Brexit Party at the last election. The useless Tories are currently the only barrier to us becoming a fully fledged Marxist country.
I just wish upon wish that political commentators would desist from the lie that we are the 6th richest country in the world. I would accept that we are the 6th biggest GDP in the world, but, built on a massive pile of debt and the service sector and more and more of our assets in hock to richer countries, we are well on the way to basket case status.

Remember all those fancy get rich quick ideas that Foo kept spewing out. Such as mobile phone energy wells. CNG, 100 mscuffs per day etc etc?
All total bulcaca from a self serving fantasist desperate to deflect from his greed and miserable failures.

I know they are placing all their hopes on matanda as a company saviour but I still don't get why in the meantime we aren't raking in loads of extra sales from current energy crisis.

Re. If you want dividends now, buy a stock that pays them rather than a high growth stock that you keep bellyaching about for not paying them.
Only trouble is we're not getting either at the moment. Thankfully my low average means I can afford to wait a while, but not forever

See this is following the usual pre-results trend of a rise for a day or two before the results come out. Hoping they will be good enough such that the second part of the usual trend, ie a next day retrace, doesn't happen.

Agreed

With all the political and financial gloom and doom in the UK at the moment, thought this might cheer you up
https://youtu.be/H3v9unphfi0

Everyone from the BBC and Labour Party is bayinb for Liz Truss' blood, predictably. Yet no-one mentions the hedge funds, pension trustees and city bankers who have created the financial instruments that have brought our financial system to the verge of collapse.
Nor do they manage the useless Andrew Bailey at Threadneedle Street and the FCA who have sat back and allowed it all to happen.

Eric. How does that square with the millions who bring up children and continue to work?