Member Info for Andrew4444

LW

I take your point but then the SP was much higher and sentiment was good. At these levels I can't see it falling much after bad news (IF the next news is bad - not saying it definitely will be bad).

Something is happening behind the scenes and I'm not sure if its because of very good is about to be announced or very bad.

We seem to be the only Gold mining company with a SP going down as POG keeps going higher !!

Very strange and frustrating

The option to trigger this deal is with MMP, not Xtract. Its not a two way option. CB could not delay the signing just because he thinks POG is going higher.

Tbh I would prefer MMP didnt exercise this option as I'm sure POG will be going much higher over the next few years. It will be going way past $2000 imho.

Lucky

I'm sure the virus will give CB a good excuse why build dates will not be met. If the virus was the real reason for any delay, then he should have given an update by now.

The view that CB has not given an update as there's nothing to say doesnt work, as he was the one who said...'Progress on all matters concerning the hard rock mining as well as detailed report will be tabled to shareholders by the end of March 2020." Something must have happened, or not happened, for that timescale not to be met. It certainly doesnt support the view that ' everything is progressing satisfactory' - or we should have had a progress report or update as promised by end March.

Anyway, hopefully the higher POG will see an increase in whatever offer we were going to get.

I agree that at this SP Xtract is substantially under valued. I've said before manica must be worth circa $30M at current POG so there should be significant upside at these levels.

LW

I take your point about similarities re plant build for FB and Copper plant but I think the main difference is that CB has passion and desire for the copper plant to get built by Xtract. In addition, CB will have the cash to fund and build the copper plant. He never could do this on his own for FB.

I agree that it looks highly likely that the next update re FB plant will confirm there has been a delay and the July build date (end stop Oct) will be missed. As I’ve said before, I’ll be very surprised if FB is built this year. That said, that may not effect shareholders that much, as I expect CB to have sold all or part to MMP well before end of the year.

I assume you mean when / if we get any substantial profit. If CB tried that now, I'm not too sure he'd be doing much of a buy back ! Any revenue we get now broadly all goes on running costs.

I would assume if the profits started to increase substantially, or we received multiple millions from part FB sale, that would be the catalyst for a SP rise. So although a substantial buy back could then be done (If CB wanted to do that) , I doubt it would be required then as the SP would have already increased due to the large increase in profits or increase in cash position.

That said, I am sure that CB would be wanting to use any profit to progress Kalengwa. I think he will be selling all / part of manica to progress his first love of copper plays. He said in Jan pod cast..

'Kalengwa is detailed, designed and ready to get into build'

Yes, I know that's what CB has said in RNS', but I think its fair to say CB's timescales are not reliable.

In 29 Aug 18 RNS. 'Construction by Omnia of its 40kt per month free gold processing plant completed, with commissioning planned in November 2018'

In 25 Oct 18 RNS· 'Pit and process planning underway to commence hard rock mining in the 1st Quarter of 2019'

Lucky

I would be amazed if the plant is up and running by 1 July. If construction had started I think CB would be telling us.

I can't see the plant being built this year tbh.

There is no lock down in Moz (yet) like there is in SA, but there are restrictions.

I would assume work is still being done at Manica or CB would have to issue an RNS. That said, the restrictions may impact the progress of the work.

This link gives a comprehensive update for Moz

https://allafrica.com/stories/202004050193.html

self isolating?

May need to give it a few days before we know, but looks encouraging.

No idea of CIB but last Q results we had £175K to £200K of unsold gold (cumulative total)

First full quarter results with 100% alluvial income ' profit will be 'interesting' #

(# interesting means very critical !)

No big sells today (or indeed any).

I few big buys.

IF we get the same again tomorrow then maybe, just maybe the seller has gone and have hit the bottom and are on our way up???

We'll see.

LW

I sincerely hope you are not suggesting that AIM is not a completely well regulated and transparent market. Its almost as if you are suggesting there is some collaboration between MM and companies!

And of course that never, ever happens :-)

LW

I've said the same many many times. No one asked him to give us a deadline for this proposal. He did so unilaterally, so why do it if he couldnt meet his own deadline. Say nothing or add on 3 months insurance time.

Talk about making life difficult for yourself.

My analogy would be:

telling your work force that they are going to get £500 xmas bonus when nothing was expected. But they then get a £250 bonus - so all are disappointed.

If the boss had said nothing, and no bonus was possible then no one would be disappointed as they weren't expecting anything. If they get an unexpected £250 bonus then all are happy as no one was expecting anything, and certainly not £500.

Lets see if we get a can of coke and packed of crisps at xmas.

James

I read the The tabled comment as was referring to Hard Rock.

''Progress on all matters concerning the hard rock mining as well as detailed report will be tabled to shareholders by the end of March 2020."

Even if it wasnt, we are still due RNS on 'all matters concerning Hard Rock mining' today (by end of March)

Of course, we wont get that update RNS today. Has CB ever kept to a deadline !

Could it be Sanderson Capital Partners???

Hello CE

Thanks for that.

Hope you are staying well.

I assume you mean the September show. Hopefully the AGM will still go ahead so a Q and A can happen then. Pod casts and RNS are fine, but they are all one way comms.

Thomas

OK thanks for the info.

I hope he had decided not to go due to Virus concerns, rather than to avoid questions. He has always attended before and answered questions.

..understandably has been postponed until September. I assume the AGM can still take place in June as attendance would be small numbers?

So the earliest CB can now be quizzed is June. Pity about the Investor Show postponement as that would mean he would have to be answering questions in just a months time.

And I think there are quite a few questions to be asking him....

Gixxer

I'm also not as convinced as some that the 'tabled' comment means what some think. You can read it either way. However, I do think, at some point there will be an offer, mainly because the option was in the original CA agreement, so why put it in there otherwise.

Also, I'm clinging on to the hope that CB would not have bought £36K worth (in the open market) from Aug to Nov last year if he wasnt sure of making some money. Those buys were after the MMP deal so may be that was the incentive for him?? He may know more then we do.

That may all be delusional thinking, but I'm using as a comfort blanket !

No idea where SP will go, but I would be amazed if it didnt go much higher than todays price so I had a small top-up again this am. I remember the last time it went 0.6p in early 2019, everyone running around with their heads on fire and 6 months later it was 2p.

We'll see what happens this time.