Member Info for Andrew4444

"because I cannot see any amount of cash being thrown at this "

it has approved the commencement of preliminary reconnaissance diamond drilling on the Chilibwe large scale exploration licence 22118-HQ-LEL in Zambia (the "Licence"),FUNDED BY XTRACT AS A LOAN to Chilibwe under the terms of Xtract's collaboration agreement with Chilibwe Mining as set out further below.

"and we intend to start drilling within the next 7 days. "

That means by mid Nov. Just when the rains start?

This all sounds very strange and I wonder if this is just another bit of PR spin by CB to appease the SH?

Note the word "Intend" so if he doesnt start drilling he can say it was an aspiration not guarantee

I would not be surprised if no drilling happened until March 2025. Its not as if CB hasnt failed on other commitments before.

"Wishing you and PXC holders the best"

Hello Trek

You said you had bought some just over a week ago. I take it you have now sold?

"Isn't this drop just because investors thought that NIU had to provide the draw down cash today. No RNS and people are assuming its not happening."

Exactly.

Despite some who seem to know for certain what the situation is and can predict the future SP, no one knows.

It could be that all is fine as Richard stated in the interview, or it could be he was buying some time and talking BS.

Place your bets on what the next news will be. Looks a bit binary now so next news could see SP drop below 5p or go way over 15p.

I have no idea, but I'm holding as my bet is we will get confirmation of a new financing arrangement soon.

Happy Birthday - but its time to fully retire now.

Please...

"Also I think lending his other companies OUR cash without asking us the SH must be illegal surely ?"

I'm no expert but how can it not be against the FSA rules !!

I know CB is not always 100% honest with the things he says but doing this must surely open him up to class action ?

At the AGM CB stated that

"If I start to forget where Africa is then Martyn Churchouse will take over"

I think CB has an agreement with Churchouse to take over at some point in the future. be it in 2025 or 2026 or later

Without trying to be callous or cruel, it would be interesting to see what would happen to the SP if CB "Leave this mortal coil”

We have all this income guaranteed which puts us in a great place compared to other small caps, yet none of this is being taken into account by the market. MC is less than total guaranteed income !

Surely this is the market saying that it has no faith in CB to use that income to build value and that he will waste it all.

If another CEO was appointed then the market may take a different view and the SP may rise on better expectations?

.

The gravy train has had to take a diversion and will now be calling at Dubai for a long refuelling stop then on to Portugal.

There may be a passenger surcharge required to cover the extra fuel that has been used and there is a possibility a replacement bus service will be required.

Passengers are expected to reach their destination by 2027.

End of message.

Not got L2

I use ADvFN to check the trades as its free and live. Only get a few seconds view but enough time to see real time trades

Roger

100K trade 16hr 29m 3p paid

LSE trades 15 min delayed

Ben

Quickly, wish the SP was at 10p !

See if that works as well :)

CB says in the interview

"The disappointment when Bushranger wasnt sold ..as people expected it to be"

Again he takes no responsibility.

Why did people expect BR to be sold Colin??

Could it, possibly, have been because of CBs many comments heavily implying that it was soon to be sold at a substantially higher price than current SP ??

Maybe that's the reason for the disappointment Colin !!!

If the lack of DD scuppers any deal for this new arrangement then CB will have his hat trick on lack of DD

Other two would be kalengwa and Moz Gold

Moz Gold was the worst IMHO as he paid $400K for ex diamond miners to mine for Gold ! (Who knew that wouldnt work ? :))

Sorry - he didnt pay $400K - we did from placings with OUR money !

Maybe this is unfair, but It just seems like he is at the casino and and he has 5 mins before closing time and he is throwing the chips on any numbers just hoping he may get lucky. To be fair to him, if he loses its not HIS money he has lost, so why the hell not do that !

"The Licence is currently subject to Zambian Court proceedings in respect of a dispute between Chilibwe and its previous joint venture partner which has restricted Chilibwe to date from developing the Project (the "Existing Joint Venture"). Chilibwe has lodged a case with the High Court for Zambia to have the Existing Joint Venture terminated such that it would retain a 100% interest in the Licence. The Licence may nevertheless in the future be subject to further or new challenges or other disagreements."

Hmmm.

So no big sell off and profit taking in the last 30 mins

Something is happening behind the scenes

We should know what by tomorrow 7am

"The Bird man wants to go out with a bang."

Agreed. And this increases the risk to Shareholders IMHO

Time is not on his side (81 in a month) so he is probably more likely to focus on Exploration than "build it slowly" approach. Maybe this is why he sold manica? It was not sexy enough to move from oxides to sulphides, but with the guaranteed income he could now play the lottery and see if he got successful quickly before the curtain came down on his career.

As I've said before BR will be sold at some point in the future but I doubt CB will be around to bask in the glory. So that may not be his priority.

"Why on earth would you expect a Zambian drilling update in a BR focused RNS ?"

Irish

I wouldn't.

I was making a separate point as end of Q3 time line for Zambia has now gone so this RNS could be used as cover? ie don't look over there, look over here.

All sounds great but...is this more smoke and mirrors by CB to cover up another failed time line of Zambia drilling starting? That's his usual tactic.

What I want is to know is how this changes the economics of the open pit and what is now the NPV and breakeven figure. I know he said that is what will be fed into the figures but until then I'm not getting excited.

Been here many times before...but potentially it looks encouraging.

I see no mention of Zambia drilling starting or started !

April 2025 then..

Because RW has gone strong on rebutting any suggestion that NIU are not fully committed, his reputation would be in tatters if we found out later that they are now not going to fully fund the project.

The damage to the company would also be massive.

I find it hard to belie that RW would have gone so strong on NIUs commitment if he was not 100% certain they were still on board. He would have been a little more vague and given a Politian's answer if there was any doubt.

My understanding is that NIU have a legal obligation to fund the $30M by early November so by then we should have an additional $25M

Any back sliding would leave the market thinking the worse but I am confident the issue is minor and exactly what RW stated in the interview.