Member Info for Andrew4444

Ben

Tbh I'd now accept 9.9p

Joe

You need to have more faith in CB.

When has he ever let us down before .............?

(I was a teetotaler before I "invested" in Xtr, I'm now on 2 bottles of vodka a day and six valium tablets :) )

Why the rise?

I suspect an RNS is about to land saying drilling has started in Zambia and that we have already hit very high grade copper just by looking at the cores.

He will probably say we are confident there is 2mt of contained copper and that a sale of the licence area is imminent and it wont be a death by a thousand lashes.

That's will probably be the reason for the rise :)

NtM

You've nicked that footage

That was from the Xtract AGM

I'm the one with the Red hair.

You can see CB at 40secs in quickly running away no doubt thinking

" Xtract shareholders really are a bunch of clowns " :)

Thanks for that

I was thinking today that it would be good to get a statement also from NIU saying nothing to see here - but thought that too good to be likely.

It now seems more likely than not, that this mess is down to a badly worded RNS that could, and indeed has, been misinterpreted.

I guess we'll know if that is the case when the market opens tomorrow:)

The damaging part in the RNS was this

"Despite instructing BNYM to issue the second tranche of bonds totalling $5 million in early July, these bonds were not drawn down due to ongoing discussions with NIU Invest regarding the Company's updated economic model, prepared in association with the Company's PFS."

In the interview RW is saying that there is nothing to see here and it was a reasonable request by NIU to re schedule the bond draw down as the PFS time scale had changed.

Some wriggle room there and open to interpretation or opinion how serious that issue was

However what appears cast iron is the legal requirement by NIU to release $30M by early November (5 months from early June issue.)

If that doesnt happen then something more sinister has happened and RW will not be able to spin that away.

This could be nothing more than a badly worded RNS or something more worrying. We should know in under 2 months.

AIMHO

DYOR

Interview out

This may get taken down so watch ASAP

Its on X if it does get blocked

https://youtu.be/Rp5fQy1o7jc

The fact that the total amount of guaranteed income from the manica sale is much less less than the current MC is the biggest indictment on CB.

The market is saying that it thinks CB will waste all of this income and he will not add any shareholder value.

We'll see. But CB's recent track record does not inspire much confidence.

IF there is any good news then at least the SP could rerate very quickly and a 50% jump is possible at this very low level....If we get any good news that is !

As sated a month ago, I doubt there will be any drilling done this season so it will be Spring 2025 (IMHO).

I may be surprised and be proven wrong and HZ proven right. When I stated my spring 2025 drilling timescales before HZ said...

"Do folk believe that the access improvements will not be completed in time to get the rigs in there before the rainy season?"

My reason for believing HZ optimism is wrong are the previous other 30 + missed timescales by CB!

Slow and steady progress is being made.

If all we had was what was in the RNS then it would OK but unspectacular.

However, this is the Hors d'oeuvre for the main course of sulphides !

"Not to say I haven’t added here along the way but at least now I can consider myself more diversified. How about you?"

Yes I have diversified now but with new money, not xtract sells. I'm not going to cross ramp but anyone who wants to see what I am also invested in can see my posting history. Its all copper stocks. I think the other stocks I'm in will move earlier than xtract as I dont expect this to do anything over next 6 months and may well drift down , hence my "negative" comment (OK I could be wrong if we get some news soon) .

If my other copper stocks do well I would be happy to add here sub 1p. Any decent news will see this shoot up over 1p very quickly IMHO but I just don't see that happening until drilling is announced in zambia which I think wont be until Spring 25.

I could be wrong. Maybe RNS next week saying drilling started? Very unlikely imho

I think I have been very balanced here with my views. There is a real chance of sp appreciation here, but not for some time. However, I think there is a a good chance the sp will drift lower with no news (next 6 months). As with most thoughtful opinions, there is nuance and it's not black and white.

The positives:

Fully funded with manica income for 2 1/2 years

Large 1.3mt copper discovery in a great jurisdiction which is worth multiples of SP at higher POC

lucky dip of a chance of a find in Zambia

The negatives

CB. All trust and confidence gone with him and his forward guidance.

No short term news coming (imho)

Lucky

I havent sold any shares, so not that obvious :) I wish I had sold the lot when you did but didnt .

If you think my last post is negative then you havnt been paying attention to what I've said over the last 18 months re CB's reliability of timescales !

I've repeatedly and recently said that I think this will go to 4p to 6p and that BR will be sold when POC goes a lot higher , but that wont be for some time.

Anyone who buys in now at this price will probably do very well over a 1 year + time horizon.

"We should get half year report next week, plus news on the 5 drilling campaigns, plus rehashed models for bushranger, all this promised, before end of 3rd quarter, "

Yes we SHOULD, but the problem is we almost certainly wont by end of Q3 (in 2 weeks). That's been the problem here over last few years.

"If I say “but it’s a great buying opportunity” once more."

True, but probably an even better buying opportunity will arise in next few months :)

As bad as it is for us, Alex Terry must be circa £1.5M under water

He holds 62M and all were bought above this price and many way above. He keeps buying every 6 monthly share holding update since 2018

As NtM says, it may well rerate at some point but with likely no drilling in Zambia until spring next year and no chance of BR sale for some time, there is probably no reason to hold over next few months.

The 1.5M sale today may be thinking this is going to either stay same price for at least 6 months or drift down so he will use the dead money for another investment over next 6 months?? I suspect the 1.5m can be bought back at same or cheaper price in March??

Of course there is always the risk that we may get news which will see the sp rise at least 50%. but I doubt it unless drilling does start in Zambia before wet season in Nov.

I doubt it but ????

$750K a quarter guaranteed income every quarter until march 27 + additional $3M before then. Fantastic income for many years for a small cap co with no dilution. Not many aim co could say that,

But we keep drifting down.

What a sad indictment on CB. The market saying he will waste all the millions $ income on rainbow chasing and not add any value to shareholders

Go on CB prove everyone wrong....please :)

I've put a load on the evens joint favourite "3 years time"

The other joint favourite "Lost all your money" also has a chance :)

"Deep down, I still believe this share price will -one way or other - rally meaningfully, in due course."

Agreed - but my time horizon keeps getting pushed back ! I genuinely don't think CB will be on the BoD by the time that happens (ill health or mortality)

As you said before NtM - your pessimistic view was that it could be as long as 3 years away (before sale)

In Xtract, all those pessimistic timescales turn into realistic timescales and then into optimistic timescales !

The "I see no reason" rhetoric does not make any sense as there are clearly plenty of reasons to have doubt of Cb's time scales.....those doubts are the previous forward guidance statements by CB. Its as if some are trying to imply CB has never let us down before ...!

"if the copper price gets to $12k there are plenty of other discoveries that would be bought and put into production before BR."

Maybe. But that doesnt mean BR wont be put into production due to the need for more copper by then. We may not be first in the queue, but we will be in that queue . But that will take a $12K POC and that may take some time yet.

"As for Zambian drilling, there is no reason to doubt drilling will not be commenced at their earliest opportunity due to the fact that GLR have now started on their drilling phase."

But he didnt say earliest opportunity. Which could be any timescale. He said by end of Q3. OK that has not passed yet but it is very surprising that anyone would think CB is going to be correct wit his latest timescale when all the others have been missed.

I'm still sticking by my prediction of no drilling until May next year. Pessimistic or prescient view?

We will know soon enough but lets hope it doesn't turn out to have been an optimistic view ??!!

I would be very surprised if we do any drilling in Zambia this season.

Strat in q2 2025 imho

And yes I know what CB said at the AGM !

(I hope I'm wrong but I doubt it)

£45k buy just gone in

Someone's confident :)