Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Not sure you can blame today's sp fall on CB !
1m buys v 0.4m sells
MM's doing their thing as usual.
"This is a coin flip, they either secure the bonds or its lights out (for existing holders anyway)"
With a 50/50 coin toss you would either lose all your money or double it.
here you will lose 50% of your money or 4 to 8 bag if good news.
yes high still - risk but the risk reward is very good IMHO
I've placed my bets and waiting for the roulette wheel to stop spinning :)
"Any guesses on bushranger value as it is"
· The current Racecourse Prospect Mineral Resource has the potential to be economically mined at mining rates of 20Mpta, or greater, and at copper prices of US$10,000/t and above.
The Bushranger Study concluded that the highest post tax NPV8 of AU$363m (NPV10 - AU$265m) processes ore above
0.10% CuEq at 20mtpa with a sale price of US$11,000/t.
So worthless until POC its $10K and even then no one will want it as profit is marginal. POC needs to be above $11K before anyone would want it. I think POC will be hitting $12K + in next 2 years so it will probably be sold but not for another 2 years. Bottom drawer for me re Bushranger but hopefully sp appreciation from Zambia after drilling starts??
https://www.lse.co.uk/rns/XTR/bushranger-pit-optimisation-financial-study-jxp0lzmb606mvwu.html
I'm sure the vid was taken at an Xtr AGM when SP was 6p
You can see me with the big Red hair.
Worth noting that 5p valuation would be just £42M MC
Obvioulsy needs POC to keep rising but BR doesnt need to be sold for much for this to multi bag.
But it may take some time.....
Well if copper keeps rising it wont be long before BR is actually worth something :)
Long way to go but a good chance over next 12 months the worthless asset of BR (at current POC) could be worth circa 5p?
Who knows maybe more?
We'll see.
Sorry PXC = AFP !
With Xtr / Pxc / ArcM its all about the drilling results in N Zambia.
If they are good then I doubt many will be remembering how much they were under water or the last placing.
Anyone of them could be another GGP...or another dud !
When I saw that Roy Slater picture it reminded me of this...
https://youtu.be/AI5575oYLtg
I hope this wasnt similar to the negotiations between CB and MMP re manica income. :)
I wont say who is CB and who is MMP - but you probably can guess :)
HZ
Fair enough. I was being a tad flippant with my "hope" comment re our drilling
I still think there may be a better chance of success on Arc area than ours as AA are overseeing the drilling.
( I say "ours" as I am still an xtr man but occasionally "play away" for a bit of fun and excitement :)
I'm also in Arc and building a decent position in that
I see both (Xtr and Arc) as the same play in that they are going to be drilling in roughly same area. Same for AFP as well.
A few differences IMHO. AA are doing the drilling and as they are much bigger than XTr I believe their pre research would be much better than XTR so MAY have a better chance of success?? May be but who knows?.
CB seems to be thinking that as the big boys are drilling in that area its not a bad idea to do the same - which could be correct but I think AA are more guided by science than hope??
As I'm in AFP as well I'm buying three lottery tickets rather than one!
One other point re ARC - looks like one of their major investors - Swedish Teacher pension funds, is selling out as ARC does not match their ethical approach. Not sustainably, ethically and responsibly.
This has seen the sp fall massively so some may think this is giving a buying opportunity just before drilling starts??
As Joeman says, both xtr and Arc could end up finding dust...but hopefully not all of them in that area :)
DYOR
AIMHO
Likewise NtM
Another small 50K at 1.99
I'll have another 50K if it goes 1.9p
NtM
If the seller was doing so because there was some bad news due, then I would be worried.
As drilling hasnt even started no one can know what the first assay results will be. I am taking advantage of the continued drop at each 0.1p fall. It may go sub 2p but as you say block sells will end.
3p looks fair value prior to any drilling. Probably hit 4p when drilling has started...then much higher or 50% drop if assay results are not good.
AIMO DYOR
POG is increasing but I suspect MMP would have found a way to keep showing that costs were going up so we would not have benefit from this increase (or only slightly).
I am convinced that the main reason CB sold manica was that he eventually realised that MMP had shafted us with AISC criteria and what could be considered as costs. The agreement had more holes into than swish cheese.
CB's comment in an RNS that he encouraged MMP to keep AISC below $1000 was a very strange comment in an RNS. Almost saying to shareholders "its not my fault" profits are not higher.
Actually it was CBs fault as he agreed the deal and arrangement. A royalty agreement like others have with MMP would have been much better.
The cash position may well be running low, but the fact they committed so much money in the purchase of equipment rather than use that for G and A does seems to imply that they wont run out of cash before financing is all agreed?
The BoD obviously have more info and know more than we do, so either the BoD are on a suicide mission and spent loads of money on machinery that was needed to keep the lights on, or they are confident the agreement will be signed before the cash runs out?
Well that's my take. We'll see.
As we get to within a month or so before drilling commences, I suspect the sp will start to rise in anticipation - maybe between 1.5 to 2p. Wet season ends by mid April.
The $64K question is, what will happen to sp after first drill results?
Spike up over 2p as per bushranger or crash?
Same applies to ARCM, AFP, GLR
"I’ve been here since 2017 when the share price was 1p (albeit quite a few less shares ) scrabbling for a bit of alluvial gold income wondering if a mine would ever get built. the current situ much much better imo"
Yes agreed - but the co is only in a better situation because of the money many LTH have invested. But many of those LTHs (last 3 years) need this to x3 bag before they are in profit .
We (LTHs) have not benefited financially from this improvement in the company's fundamentals - which was facilitated from OUR money.
Any newbie buying in at this price will almost certainly do very well.. and LTh may even get their money back or even make a slight profit !
English P
From reading your post on PXC, you seem to be making a pitch for being the 5th horsemen of the apocalypse - fear :)
"The Directors believe the purchase of these mills at a significant discount to the price of the same equipment when new, should have a material positive impact on the Empire mine project economics"
I wonder if this was a "chicken and egg" situation? Those who were looking to lend the money wanted the economics to be improved and for this to be derisked - which is why we purchased equipment at cheaper than new cost and before the bonds were approved. ?
I'm more confident of a favourable conclusion to this now than I was yesterday, but there is still risk here and I understand why some are still sceptical.
James
I guess it all depends on what many think the times scales are to sell Bushranger. IMHO and possible CB, it looks like it will take too long for CB to be around to take the credit for a Bushranger sale and the firework display??
I think the cash grab and selling of manica supports the view that he thinks needs to be quick with next investment and time is running out.
I think his approach would be completely different if he was 10 or 15 years younger. To avoid ant misunderstanding I'm not supporting is approach just explaining why I think he is doing it.