Member Info for andmillsy

I agree with your observation on the edits.

Thanks Joeman and Iwant
Happy position to be in.
Cheers

We still need, I believe, to factor tax liability into assumed net realisation value on sale of the asset.

Unfortunately I don't know how this would be calculated.

After a day walking in the mountains in the Serre Chevalier area I get to an area with mobile data and what an RNS
Awesome
Very good news

Unfortunately I can't attend this time as away. Looking forward to hearing any info from the board.

Agree CE. Colin was clear AA wouldn't want another party, or a risk of another party next door

TRADING 21 202 LME COPPER
AMENDMENT TO LENDING RULES
AND IMPLEMENTATION OF A
BACKWARDATION LIMIT

LME Notices 19:01

The LME been monitoring the ongoing tightness in
the copper market, with Exchange inventories
falling and nearby carries tightening. With
immediate effect, the LME (acting through the
Special Committee) has determined that it is
appropriate in the circumstances to take the
following three actions in respect of copper, which
are intended to ensure market orderliness: (i)
amending certain requirements within the lending
rules; (ii) imposing a limit on the backwardation for
tom-next contracts; (iii) introducing a deferred
delivery mechanism for certain contracts. These
changes are intended to be temporary and will be
reviewed as appropriate by the Special Committee.

I found this link interesting.
https://inl.gov/periodic-table/
Interactive periodic table, with a bit of a nuclear focus, copper had some facts presented which I didn't know about

"Copper is essential to all living organisms as a trace dietary mineral because it is a key constituent of the respiratory enzyme complex cytochrome c oxidase.. In humans, copper is found mainly in the liver, muscle, and bone. The adult body contains between 1.4 and 2.1 mg of copper per kilogram of body weight."

I think assays on the human body wouldn't present an attractive investment opportunity!

In took the chance yesterday at end of day to take some more here. Was encouraged to do so after the conversation with Colin to which CE alluded. Feels like news from at least one front is inbound

Mon 20 Sep 3.95
Mon 27 Sep 4.4
Mon 4 Oct 4.75
Mon 11 Oct 5.14
Mon 18 Oct 5.23
I think you're barking up the wrong tree

Ella
I couldn't possibly comment on the red wine as I was drinking the white which had distinct hints of copper interspersed with generous pockets of gold. Chateau de Bushranger 2023 best consumed before 2100.
Cheers

Hi Shorn
Interesting point - I hadn't thought of it in relation to extending the current open pit model but looking at the next batch of holes for Phase 2 overlaid on the IP data then I think the feasibility of a much extended open pit including the South East anomaly appears feasible. By my reckoning it would be a 2km long from the north westerly point of the map (red boundary) to the most south easterly new drill hole (purple colour). So in relation to the Sweden example very plausible.
Of course it will depend on what they find when they drill!

"Did you sense that the proving up of the anomaly in the SE would be a carrot to help draw a purchaser in after the initial 2MT+ (AAL option) / decision to mine is proven ?"
I took away from the presentation that AA would definitively want to take the entire licence rather than leaving the SE anomaly for potentially another acquirer. I recall Colin saying that AA wouldn't want anyone else on their doorstep. I think there is a bit of a rush now to prove up as much as possible either as extended open pit or purely value of resource in the ground in order to have the right ammunition to contest / accept any early / opportunistic offer from AA.

I really would like to listen to the video again however to properly consider the answer to your question.
Anyway hope this helps.
Cheers

Imho 20 and 21 are complete.
As quoted by Stevemc a few days ago
"The RNS on the 13th October said "to date 15 diamond drill holes have been completed". That means holes 20 and 21 finished...."
However Colin prefers, rightly so, to release some professional visual interpretation of the drills ( eg at x meters there were y meters etc etc)and this is important as we're not providing xrf info. I'm sure given the professionalism of the operations at Bushranger there are certain checks and balances before the "hole completed" rns is released.
I think this will be in the next day or two, unless Colin wishes to present a broader picture.
I'm also impatient and checking for a 7am rns but I think the chess pieces need to bed carefully moved towards the endgame and I believe that's the strategy in hand.
Yes I know we're playing poker....

I've been remiss with providing my update from last night due to fighting a work crisis. Sorry.
Most points have been really well covered - thanks Cyberiachas for todays updates and the Kenny Rogers reminder :) The only point I would add is that I asked Colin (maybe offline) about doing geophysics for remaining licences in the area but I took away that they didn't have the capacity. I don't know if there is a minimum exploration spend figure on the remaining licences and / or a minimum spend figure. Perhaps round 2 at the AGM may allow this to be explored. I'm trying to find a way to attend.

Whilst the share price is down today, very slightly, there were two positives
1. The volume for a quiet Friday with no news was large, over 7 mil. Recent Fridays when no news have been tiny. I take that as a positive. Word getting out to retail I hope.
2. I made a (final?) top up to achieve a round number which enables far more rapid extrapolation of net benefit of various asset sale prices with or without whisky
Good weekend all.

The biscuits were primarily of the sausage and prawn variety !
The next holes (those after 19 and 20) are 13 in total. These are the purple dots on the following pdf
http://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf
8 of them are positioned adjacent to the SE anomaly although drill direction isn't confirmed it seems likely that the majority are targeting this area.

Hi Ella
The presentation kicked off about 6.30pm with Colin presenting for an hour followed by q&a for perhaps 45 mins.
There was then some informal discussions in smaller groups I left about 9.30pm but had a fiasco of a train journey home so only got back at 12.30am :(
The event was really all about xtract. When the recording finished there were a couple of questions in the group on other companies mainly BZT and then some informal discussions in small groups primarily about JLP and BZT unfortunately not really much on GLR due to timing constraints and the interests of those who captured Colin first after the event.
All the best.

A question which came up last night between a few of us at the event related to taxation on asset sale.
So far some of the calcs we've kicked around were based on 2mt@$9000@3% to give a derived value per share of the value of the sale.
Are we inflating our expectations by ignoring tax in this calculation ?
For example would there by a corporate capital gains tax liability to consider in assessing any value which may be disbursed to shareholders?

Steve I don't think its an option to consider changing corporate jurisdiction to IoM :)

try the formula based approach...
t dot me/joinchat/WWZ7czgjzVLi727b
replace " dot " with " . "

You can try this link to the telegram group where Phil posted a short video who took on the evening...
https://**************WWZ7czgjzVLi727b

Joeman1
The filming appeared to be done by a 3rd party. Knowing how these things tend to work it will take imho a day at least before the material is transferred to xtract, reviewed by xtract and uploaded to the website. Happy to be proved wrong.
An offer was made that to get a copy of the powerpoint used by Colin you can drop an email to waltie AT xtractresouces.com
where AT=@ (lse scrubbing email address).
You could enquire if requesting the powerpoint when the video will be available.
It is well worth spending some time to watch it assuming it capture the Bushranger and sell out discussion.
I also hope it is available soon.