Member Info for Andrew4444

With Xtr / Pxc / ArcM its all about the drilling results in N Zambia.

If they are good then I doubt many will be remembering how much they were under water or the last placing.

Anyone of them could be another GGP...or another dud !

When I saw that Roy Slater picture it reminded me of this...

https://youtu.be/AI5575oYLtg

I hope this wasnt similar to the negotiations between CB and MMP re manica income. :)

I wont say who is CB and who is MMP - but you probably can guess :)

HZ

Fair enough. I was being a tad flippant with my "hope" comment re our drilling

I still think there may be a better chance of success on Arc area than ours as AA are overseeing the drilling.

( I say "ours" as I am still an xtr man but occasionally "play away" for a bit of fun and excitement :)

I'm also in Arc and building a decent position in that

I see both (Xtr and Arc) as the same play in that they are going to be drilling in roughly same area. Same for AFP as well.

A few differences IMHO. AA are doing the drilling and as they are much bigger than XTr I believe their pre research would be much better than XTR so MAY have a better chance of success?? May be but who knows?.

CB seems to be thinking that as the big boys are drilling in that area its not a bad idea to do the same - which could be correct but I think AA are more guided by science than hope??

As I'm in AFP as well I'm buying three lottery tickets rather than one!

One other point re ARC - looks like one of their major investors - Swedish Teacher pension funds, is selling out as ARC does not match their ethical approach. Not sustainably, ethically and responsibly.

This has seen the sp fall massively so some may think this is giving a buying opportunity just before drilling starts??

As Joeman says, both xtr and Arc could end up finding dust...but hopefully not all of them in that area :)

DYOR

AIMHO

Likewise NtM

Another small 50K at 1.99

I'll have another 50K if it goes 1.9p

NtM

If the seller was doing so because there was some bad news due, then I would be worried.

As drilling hasnt even started no one can know what the first assay results will be. I am taking advantage of the continued drop at each 0.1p fall. It may go sub 2p but as you say block sells will end.

3p looks fair value prior to any drilling. Probably hit 4p when drilling has started...then much higher or 50% drop if assay results are not good.

AIMO DYOR

POG is increasing but I suspect MMP would have found a way to keep showing that costs were going up so we would not have benefit from this increase (or only slightly).

I am convinced that the main reason CB sold manica was that he eventually realised that MMP had shafted us with AISC criteria and what could be considered as costs. The agreement had more holes into than swish cheese.

CB's comment in an RNS that he encouraged MMP to keep AISC below $1000 was a very strange comment in an RNS. Almost saying to shareholders "its not my fault" profits are not higher.

Actually it was CBs fault as he agreed the deal and arrangement. A royalty agreement like others have with MMP would have been much better.

The cash position may well be running low, but the fact they committed so much money in the purchase of equipment rather than use that for G and A does seems to imply that they wont run out of cash before financing is all agreed?

The BoD obviously have more info and know more than we do, so either the BoD are on a suicide mission and spent loads of money on machinery that was needed to keep the lights on, or they are confident the agreement will be signed before the cash runs out?

Well that's my take. We'll see.

As we get to within a month or so before drilling commences, I suspect the sp will start to rise in anticipation - maybe between 1.5 to 2p. Wet season ends by mid April.

The $64K question is, what will happen to sp after first drill results?

Spike up over 2p as per bushranger or crash?

Same applies to ARCM, AFP, GLR

"I’ve been here since 2017 when the share price was 1p (albeit quite a few less shares ) scrabbling for a bit of alluvial gold income wondering if a mine would ever get built. the current situ much much better imo"

Yes agreed - but the co is only in a better situation because of the money many LTH have invested. But many of those LTHs (last 3 years) need this to x3 bag before they are in profit .

We (LTHs) have not benefited financially from this improvement in the company's fundamentals - which was facilitated from OUR money.

Any newbie buying in at this price will almost certainly do very well.. and LTh may even get their money back or even make a slight profit !

English P

From reading your post on PXC, you seem to be making a pitch for being the 5th horsemen of the apocalypse - fear :)

"The Directors believe the purchase of these mills at a significant discount to the price of the same equipment when new, should have a material positive impact on the Empire mine project economics"

I wonder if this was a "chicken and egg" situation? Those who were looking to lend the money wanted the economics to be improved and for this to be derisked - which is why we purchased equipment at cheaper than new cost and before the bonds were approved. ?

I'm more confident of a favourable conclusion to this now than I was yesterday, but there is still risk here and I understand why some are still sceptical.

James

I guess it all depends on what many think the times scales are to sell Bushranger. IMHO and possible CB, it looks like it will take too long for CB to be around to take the credit for a Bushranger sale and the firework display??

I think the cash grab and selling of manica supports the view that he thinks needs to be quick with next investment and time is running out.

I think his approach would be completely different if he was 10 or 15 years younger. To avoid ant misunderstanding I'm not supporting is approach just explaining why I think he is doing it.

James

What you are saying makes sense.

But If you had a very short time horizon then what would be the best approach then?

ImHO CB knows time is running out for him (81 this year) and he now is going down the route of quickest monetisation and sp appreciation rather than most sensible and long term approach

Cygnus

My understanding is that ARCM licence is the AA one (on the map) to the right of AFP licence as you look at map. Its the left one of the three bottom centre licences

That's my understanding from listening to ARCM info but happy to be corrected.

http://www.rns-pdf.londonstockexchange.com/rns/3942C_1-2024-2-7.pdf

"Due to CB's suite of companies in the Zambian NW corner I have spread my investment in XTR, AFR & Galileo"

I've done the same, and for the same rationale I've also added ARCM so my portfolio.

I take the view the more lottery tickets you buy then the more chance you have of winning :)

It look like CB takes the same view !

Since last update on 1 June Alex Terry has again increased his holding from 56.5M to nearly 60M

Well at least someone has confidence in CB :)

https://xtractresources.com/shareholders/

"WHY sell the house silver to only go back to square one with the end game of producing"

Because manica was not a big enough discovery for CB's ego or kudos. He wants to go out with another Kiwara - even if it means taking more risk with shareholders money

This could be one of the best things CB has ever done, or another failed Copper exploration play like the previous 4 bets

CB is a gambler - but happy to use other peoples money to gamble !

NicetoMichu

When I saw your user name I assumed you had posted that on XTR BB. I got excited that sp had gone to 2.5 p :)

I agree with your views re ARC. I have been slowly buying over last 4 months and have 1.2M and will keep adding sub 3p

Risk reward looks very good but, as you say, anything can happen !

HZ

You do seem to try and find any excuse to defend CB !

Yes, POC did fall around the proposed sale time but that is not the main reason for the sp collapse. Maybe 20% of the reason. Many of CB's failed predictions or "statements of fact" had nothing to do with the economic conditions ie

We know we have the grades and I'm not worried about the grades

We were biting our nails re 2mt but now with Ascot find we dont have to.

This is a tier 1 asset

His predictions / comments did not meet reality. If POC was still at April2022 high levels before the fall, Bushranger would offer virtually zero profit. CB was talking about $8K to $8.5K POC as being the brake even point in the interviews

With no covid, no fall in POC, no change in economic conditions, no war the sp would still have fallen as reality and results was seen to be nothing like CBs comments and predictions. .

With better economic conditions and no fall in POC, we may have fallen to 2p not 1p