Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
I think its obvious that the fall has been down to 2 factors : CB's BS becoming apparent and the general fall in commodity stocks. Its a matter of opinion what the split is e 80/20 50/50 or 20/80. I guess no one will ever know for sure.
I think we have been very unlucky that at the same time CB's BS was becoming apparent, we also had major head winds for the commodity sector. A "double whammy"
As ever, any SP move is exaggerated (up or down) by fear or greed and the sp goes up too much in good times or falls down too much in the bad times.
I remain confident that the fundamentals here will take the sp to a much higher level and that this should be boosted by the sector heads winds reducing over the next 12 to 18 months (ie interest rates reducing)
But it has been a bit of bruising and stressful 12 months !
Article text re XTR
"But HUM doesn’t look like being one of them – and neither I think will be Xtract Resources (XTR) who I haven’t mentioned recently because there’s not much to report except of its 23% profit share in the Mozambique Manica Fairbride gold project. There, production has been increasing steadily, but its financial results and prospects are still vague. XTR’s latest six months to June only included 3 months to March from Fairbride, when 4,522 oz produced was worth a net $1.3m to XTR after costs. Projecting the rate of improvement could give an annual $5m to Xtract (current market cap $12m) although I wouldn’t count on that until its full year results next March. If so it could tide Xtract through its next few years spending on the’highly prospective’ copper exploration projects it has entered into in Zambia. (Where have we heard that phrase before ?)
Other Xtract news worth waiting for however is an up- dated economic study being worked on its Bushranger deposit’s 1.3m tonnes of open-pittable copper, where recently tested ore-sorting technology is promising much more efficient mining than the previous one. But while Xtract is ‘excited’ by indications that production itself will be highly profitable (even at current copper prices ?) it is before construction costs, and we’ve seen how those have been rocketing. So the hope is that the scaled down infrastructure enabled by ore-sorting will outweigh capital cost increases and maybe attract a buyer . Its why I think Xtract is worth holding onto for news."
Jezzoo
I agree with the CB factor is now a liability on SP but I dont agree it will be 6 months before the next update. The latest will be 3 months as Q3 results will be out in early Jan.
We may get some ore sorting news or other BR news before then but if not Q3 results should be better than these and that should be known in 3 months or slightly less?
This may slowly start to climb as some confidence slowly returns but the big questions is how soon before some decide to sell? My "weak hands" comment has, as usual, been taken out of context as my full sentence, in context, was referring to those selling quickly into a spike ie weak hands selling, rather than holding for more profit.
If there are weak hands then any rally will soon be stopped... unless its supported with more news prior to Q3 results in Jan .
Well I can't buy any with x-o or HL !
For what its worth....
I can't buy any atm
Can sell loads
Good news 82.9 Kg for July so above 80kg a month could be the norm
Bad news $1215 AISC
$774 profit
July 82.9 kg = 2787 oz = $2157138 x 0,23% = $500K a month pre tax profit = £400K pre tax profit
We may need to see Q3 results showing 2700K oz a month production steady state and AISC nearer or below $1K for a significant SP increase
Looking good though and moving in the right direction !
Analytical
I think VB also said that I was you on here !
I filtered him a few months ago as his motivation was clear.
If anyone looks at his posting history they can see that he is a snide and nasty piece of work wanting to spread fear and worry to as many people as possible.
I actually feel a little pity for him now. What a way to spend a life.
£5K buy gone through but MMs then put through a sell at 1p for 68 shares!
So now down 2.2% even though 490K buys v 68 sells
Hmmm?
Btw MM's will still happy to take 1.6M shares from me !
Long interview just on Xtract.
I wonder if this is the start of a PR campaign to boost SP? Maybe Q2 results soon with a commentary on indications of Q3 results??
Quote by CB
" I feel blessed for our Shareholders, I really do "
:)
Https://audioboom.com/posts/8384611-sunday-roast-featuring-colin-bird-executive-chairman-of-xtract-resources-and-shaun-day-ceo-of-g
Xtract from 11 mins
(In short, CB says future for Xtract is all looking great !)
The future looks good, but I guess the question is how long do we have to wait ? :)
https://www.mining.com/web/us-steps-up-efforts-to-access-africas-critical-minerals/
https://www.reuters.com/markets/deals/miners-seek-partners-copper-assets-ma-heats-up-2023-10-11/
I'm expecting poc to be $12K + in 2 years and by then interest rates will be lower than now
However, the sale value will be nothing like CB implied and will take a lot longer.
"Just wish you would ‘more’ concentrate your ‘valuable’ input in a positive way."
I think being honest and balanced is a valuable input. Much better than continuously taking a positive spin on everything or a negative spin on everything.
But I appreciate that approach may not fit with many agendas here :)
" it doesn’t mean to say that BR hasn’t lived up, more in line to management realistic expectations"
I don't know what you mean by "realistic management expectations" or how you define them as the only expectations anyone can go by is what the management say imho.
Such as:,
We know we have the grades - not worried about the grades
If they offered me 10p I'll tell them to keep it
Tier 1 project
We were biting our nails re the 2mt but now we've discovered ascot there's' no need to do that
This wont be a death by a thousand lashes (re sale)
etc
if all the above were not realistic / honest, CB should not have said them
For the record I have not written off BR as I think it will be monetised when POC much higher but nothing like the value CB previously said or his time scales
AIMHO
HZ
I have not been more critical of CB recently. Critical yes but not more so then usual. My view has been very consistent re CB over last 12 months . It did change after the real situation became apparent.
I would much rather the SP went up from these levels than went below 1p !
My bet is it is more likely to be higher in a few months than lower - hence the small top up.
2 mins before fosters post a £1K buy went in.
I suspect Fosters post could have been the result of his £1K buy??? :)
I also had a similar top up today. I will do so again if ASK falls below 1p
MMs would take 1.6M shares today so they seem happy to keep taking our shares. That has not happened for a long time..
"Andrew4444 Said I was a weak holder for selling"
I didnt say anything of the sort. Re your decision to sell - I said what is below on 30 July
You've always been a decent poster, and I respect your decision to do whatever you want.
Please don't start making things up .
>>>>>>>>>>>>>>>>>>>>>>>>>>>>
30 July
Lucky
I'm sure BTTS is Gwyn on TG.
You did not tell anyone to sell.
You gave your own interpterion of what you heard and stated your views.
Up to everyone to make their own minds up and be responsible for their own decisions.
I think that shows how much damage CB has done to sentiment and how all trust has gone with him.
Replace CB with another CEO who has no historical baggage and the fundamentals here should see this rise substantially.
Andy
I agree that we have a very good idea of what the H1 production figures are but the two questions I am not sure about is:
1. how much of Q2's gold production has been sold and converted into revenue?
2. How much of that Q2 revenue has been reported in H1?
Until we get that broken down in Q2 results we dont know
I agree that Q3 results are looking good.
Whatever the final profit figures are, we are now finally making a profit at GROUP level and not just the alluvial / gold production side. Which was always been profitable in isolation of total company costs when G and A was not included.
The irony is that now that we are profitable as a company, the MC is at its lowest for years and even lower than when we were a loss making company at group level!
Most Aim companies are loss making so there can't be many Aim companies that are making a profit at group level with an MC of £10M.
But I guess that's the negative CB factor at work here :)