Member Info for andmillsy

Attacking the south east - excellent.
Answered a few of the questions for Thursday!
Last time I put out a list of Thursday questions there was also an RNS next day :)

Certainly had a strong day today

Truncated message partially last question was
....
2. What are plans for Eureka
END

As mentioned before the meeting on 14 Oct is to cover all of the companies which Colin represents so we most likely won't get through all of the questions on my earlier post but at least it gives a bit of a target to go after.

Attendees: shorn, jamesiecakes, CaveatEmptor, andmillsy, Gecko, prickly, volmer"Please note a smart casual dress code applies (denim, sportswear and casual wear are not allowed)"
shorn received confirmation from XTR that the meeting will be recorded and posted on the website (I assume XTR website)timing 6pm - 9pm 14 Oct City of London Club, 19 Old Broad Street, EC2N 1DS

Revised list of questions grouped into themes based on posts over last few days. I'm sure I'll have missed / misinterpreted some so pls let me know.

Next Steps in Phase 2 for Bushranger
1. What are next steps in phase 2? Approx halfway through 20,000m planned for phase 2 and Jeremy Read mentioned 25 to 30 holes in total?  Will a revised drill plan be shared for next batch of holes and are these mainly infill or exploring new areas? Any permit updates required e.g. nearby burial site
2. One of the objectives for Phase 2 was to prove up 2MT is this still the target or is there now a higher target?
3. Having completed the first batch of phase 2 holes (7 to 19) can revised 3D model be produced and shared?
4 What is timeline to complete phase 2 and is it fully funded ?
5.  Any plans for additional nearby licences ? Any plans for further geophysics / magnetic survey ?  

Realising Value from Bushranger
1. What are next steps to realise the value for shareholders of Bushranger asset?
2. How and when may AA optionbe triggered? For example infill drilling, update to resource estimate eg JORC, possible timeline & funding required.
3. If it was clear 2Mt was achievable would exploration of new areas eg Footrot continue ? If not how would value of unexplored areas be secured for XTR shareholders ? 
3. If XTR wish to make a decision to mine what would be next steps - JORC, PEA, permitting, environmental and possible timeline and funding required. Any specific risk on permitting to consider e.g. water sources, burial sites etc. How would lower cutoff at 0.15, mentioned by Jeremy Read, be realised in the valuation.
4. Would XTR actually want to mine this on their own ?
5. Based on your experience with Kiwara sale how could Bushranger be valued and realised ? How is the valuation determined:  contained Cu multiplied by Cu price multiplied by appropriate % c3% ?
6. AA purchase option is for 80%. How would remaining 20% be valued and negotiated ?

Interested Parties:
1. Has AA purchase option deterred others ?
2. Based on infra & projects near Bushranger who else may have an interest in the asset ? AA don't seem to have a footprint in the Lachlan Fold. 
3. What's your view on BHP decision to more actively consider other areas e.g. DRC which wasn't previously a safe / desirable jurisdiction
4. Are you concerned that XTR may be at risk of a "hostile" takeover at an opportunistic valuation given apparently low share price? If at risk how to protect from this risk? Has AA purchase option helped in this regard ?

Funding
1. Can update be provided of cash inflows from African assets any info can share about objectives of small open pit at Boa Esperanza?
2. Given cashflow to be generated by African assets are further warrants really necessary ?

Other topics
1. Can steps be taken to improve social media comms e.g. improved use of Twitter. Also can the info in RNS give greater details to help attract prospective investors?
2. What are th

Bridgedogg1 - I posted regarding Uranium permits during the meeting but you beat me to it with your early posting and hence I deleted mine! Great questions btw :)

https://twitter.com/twinkisailer/status/1447571133658804226/photo/1

Steve Good questions to add for the Colin list for Thursday I'll try to do an update of that during tomorrow.

Clearly last weeks RNS's have changed the relevance of some of the initial draft and who knows what else may land in the next 2-3 days. Interesting times ahead

I think the economic modelling is more relevant to trigger point (2) - decision to mine ?
JORC is relevant I would imagine for both.

Perhaps I need to encourage my son to consider studying combined "geology and food science" as an emerging area of mining and mineral evaluation ?

Yes Steve it was c£40 pw 35 years ago but that at least was for beer and curry :)

I've doubled my sons Junior ISA holding in XTR but it may not qualify as one of the big trades. Hopefully will be a help for uni in the not too distant future.

Hi Ella
Sounds intriguing but I can't see any recent change in his role on LinkedIn.

On LinkedIn his profile is showing:

Experience
Anglo American
Company Name Anglo American
Total Duration 2 yrs 4 mos
Title Discovery Manager, Australia
Dates Employed Oct 2020 – Present
Employment Duration1 yr 1 mo

Title Discovery Manager, Zambia
Dates Employed Jul 2019 – Oct 2020
Employment Duration 1 yr 4 mos
Location Zambia

#ATM #afritin @Afritin_Mining great RNS
"These high-grade drill hole intersections substantiate our belief that AfriTin Mining is poised to become a leading supplier of technology metals targeting a more diversified portfolio of production in the future."

https://www.londonstockexchange.com/news-article/ATM/uis-exploration-drilling-down-dip-extensions/15167781

I've still been buying despite having said before I was maxed out. The slight assay "slip" on Thursdays drill map in the morning RNS persuaded me to increase a further 10%. However despite an arguably over expressed position I'm feeling confident in the upside potential and not overly exposed on the downside. This is a risk play and for me the biggest risk is the timescale but I'm okay to sit and hold for at least a further year.

It's related to uranium investments primarily but Imho valid thinking for a range of other scenarios.

Whilst it may feel a little premature - a bit of early consideration and dreaming may be appropriate
https://traderferg.com/avoiding-the-monkey-trap/

https://www.vox markets.co.uk/articles/traders-cafe-with-zak-mir-colin-bird-executive-chairman-xtract-resources-c1cf6dc/
Remove space in vox markets

Just to add to your comments Ben with extract from relevant RNS on drill completion.

HOLE 14 new IP geophysical target to the southeast. It intersected what appears to be a new segment of the Bushranger porphyry complex, with significant widths of pyrrhotite-pyrite mineralisation and associated copper sulphides.

I think 13 and 16 need to be considered together so:
HOLE 13 The main mineralised target zone was intersected at about 84m downhole depth and ran through intervals of moderate to strongly developed copper mineralisation to about 389m depth. After passing through a zone of unaltered and unmineralised black shales, the hole hit a further deep zone of weak potassic alteration with pyrrhotite, pyrite and associated chalcopyrite copper mineralisation at around 800m. 
HOLE 16 92.5m intersection of visible mineralisation from 93m depth has confirmed the extension of mineralisation to the Southeast by up to 40m on the hangingwall and 100m on the footwall. Within the zone of visible chalcopyrite, two zones of stronger visible mineralisation were encountered over a 140m intercept from 162m depth, and a 95m intercept from 430m depth, interpreted to represent both limbs of the mineralisation in proximity to the crown

HOLE 17
intersected a 607m interval of visible chalcopyrite mineralisation from a shallow downhole depth of 11m.The hole passed through a 150m zone of stronger visible chalcopyrite mineralisation from 159m depth. A second, 31m wide zone of stronger visible mineralisation was intersected from a downhole depth of 479m - this second zone opens up the possibility to define further mineral resources on the eastern side of the central porphyry intrusion.

HOLE 18
most northwesterly drill hole completed on the project to date and is beyond the current limit of the Racecourse Inferred Mineral Resource. The result from drill hole BRDD-21-018 confirms that the Racecourse copper mineralisation extends to the northwest beyond the limit of the Inferred Mineral Resource and is open to the northwest.. 709.6m interval of trace to moderate visible copper porphyry-associated copper (chalcopyrite) mineralisation from a downhole depth of 23m until the end of hole. Moderate strength copper mineralisation occurred from a downhole depth of 253m until 450m, a downhole interval of 197m, with the strongest mineralisation occurring between 415m and 484m downhole depth, a downhole interval of 69m.

This is familiar ... I can sell 500k vol but can't get quote to buy 10k vol.

5p has been printed on a couple of trades
5.1 is my break even will be delighted to see that go - its been a long time.
Agree an interview and updated model would be ideal
All the best

That's an interesting number you pick CE - 40p- it's the final column of my modeling spreadsheet ;)