Member Info for Andrew4444

Weapon Not ignoring the rain, that was clearly a factor but the grades may have been just as important. Yes I do think Moz will get the boot and I would be very surprised if we just took over their $5M plant. Lets see what happens and agree to disagree. If you are right then as the rain is stopping Moz and Sino will ramp-up output and we will see much better results in Q2. I hope you are right:)

Weapon7 I think the implications and knock on effect of what has happened is greater than some think. Its all about opinion, and we all see things differently. For me, I think its silly to say, nothing has changed. IMHO

Steptoes You can trust most of what CB says, but not all. Problem is, which part do you believe? That's the problem - for me anyway !

10p max, not + When? When FB is making us profit? I would think mid to end 2019. Not this year IMHO. This should still do well, but It wont IMHO do what I thought (and indeed many some others) Whatever expectations were, I think they are now going to be less

OAND W I would think our productions costs would be paid for by the JV cut of profit? It could easily be self funding and make us a lot of money. BUT it will be significantly less than if we could fund the HR ourselves through alluvial income / loan. That wont happen now as income from alluvial will be very small. Still very good value here at this MC and SP, but by 20p+ is not gonna happen now. 10p max now IMHO

https://audioboom.com/posts/6658839-colin-bird-executive-chairman-of-xtract-resources-xtr-081218 at 4.25 20,000 oz a year total alluivial. Not too sure if that was realistic at the time. Some may now be more cautious in believing everything CB says in pod casts n

That explains it then!! LTH will remember 'problems' with Joel Silberstein figures under Jan Nelson. Jan actually said he would employ an external audit team to check figures before release due to inaccuracies in the reported figures. LTH will no doubt remember this. It caused some amusement at the time !. JS to have his figures checked before JN had the confidence to release them.

Cavity I think Moz are toast but CB probably didnt want to announce this along with Omnai news and income levels. No mention of loan payments in RNS as they havn't paid us as they have no money (IMHO) Expect an RNS saying they are gone, replaced with new contractors (Chinese??) and Hard rock agreement. IMHO

https://audioboom.com/posts/6710677-colin-bird-executive-chairman-of-xtract-resources-xtr-060318 Makes interesting listening from 3.10 He said, Moz gold performance have been set back by rains, sino minerals havn't.

pY088 I didn't say it will go tits up. We are still making money from alluvials (very little at moment). The current income levels dont support CBs comments though.

IWTO The 25 Jan RNS was at best misleading. Every conversation I saw had assumed our income had been $320K . We still have FB and at this price there is still good value here but the figures that I and some were stating re alluvial income by end of the year are now nonsense. Alluvial income will struggle to match the $320K a month figure Colin stated in June. All we can say is that we will get a bit of income from alluvials. I'm here for hard rock income whcih was always the main course.

Don't know if anyone can explain this but... Colin Said We've financed the Moz Gold loan ($400K loan ) out of operations and Interms of cash flow it's been a pretty good venture (referring to alluvials) In the last RNS it stated that alluvial income to Xtract had been $220K since start of operations and after costs $12K since start. How did we loan Moz gold $400K out of operations and how does that square with his second comment re pretty good cash flow? Any thoughts? Or am I missing something here?

Stock Sino will do much better as less rain but I think there will be teething problems for the other contractor as I expect a new alluvial contractor to be in place this quarter and Moz gone before end of it.

IWTO Exactly. I saw $320K as Circa $110K a month. Moving towards CB figure of �160k a month from sino. The �320K a month alluvial income stated by CB in June RNS now looks some way off. My previous alluvial estimates are now way off, moreover embarrassingly too high !! You say rubbish wording by CB in RNS? Hmmm. In hindsight, maybe very clever wording :) It fooled me.

Cavity Trust and comms have always been the main criticism of CB. Not too sure if he has done anything in last RNS to change that ! At this price still real value to be had, est through Hard rock but I will give CB another 6 months to deliver significant progress. Then de risk. I think Moz will be toast soon and we will have new alluvial contractor + sino with Hard rock announcement. I dont think it was CBS finest hour choosing Omnia and Moz for alluvials.

IWTO Many thanks for explaining it. . Many others, if not most, thought our income was $320K as that was the base figure many were discussing when talking about Q1 est income. Previous comments like Q1 income could be double at $600K are evidence for that. And they say CBs comms are poor :) Oh well. Thanks again

Cavity My gut feeling is that we are also having problems with Moz - not just because of the weather. I would not be surprised if we cancelled Moz contract and CB brought in another alluvial mining co. This may be announced along with Hard rock deal?? May be that's the brilliant RNS CB mentioned at investor show?

I thought it had been reported, by a few, that Colin had said at the Investor show that our income levels Q1 would be slightly higher. Higher anyway. RNS Q4 Xtract's net share of the combined attributable contractor income is US$320,000 (equivalent to 40% of total attributable contractor income, RNS Q1 Xtract's net share of the combined attributable contractor income received by Explorator is US$133,000 (equivalent to 40% of total attributable income, Surely income is a lot less? Am I missing something here?? Any thoughts?

I've already stated I think Q1 figures will be circa $600K but I'm getting a little concerned that things have not gone as well as I thought. If the Q1 figure was going to be very good I would of thought CB would want to release this news asap.. We are already past the 25th day when Q4 figures were released. I'm going for $400K now. I wonder if there have been problems with Moz ? Gold recovery? Monthly penalty payment? Hope I'm wrong and my $600K initial estimate is nearer the mark. sure it will all be OK by Q3/Q4

Because the overall profits will be higher, even after all servicing cost. If it was not profitable to do so, then no one would ever do it. The contractor under a JV would still be making a nice profit, so the overall profit we would get from 100% ownership would be higher. (What they would have made + our 20% cut) With greater risk is greater reward - so I accept the risk would be higher if we did this and it would take longer to deliver profit. I think its an option worth considering, that's probably why CB suggested it last year.