Member Info for Andrew4444

"I would understand the sentiment around throwing the towel in that many may have at the moment "

Is it really "many" though?

Apart from one attendee, every AGM summary, from those that were there was either neutral outlook or slightly more on the positive side.

As I said on Friday it looks that only 2 sold on Friday after AGM (from their comments) . Majority seemed at least OK with what they heard and no reason to sell up?

No reason to expect a big sell off tomorrow but IF it happens then I suspect many will take the opportunity to add?

AIMHO

What are Blue sky projects?

Blue skies research (also called blue sky science) is scientific research in domains where "real-world" applications are not immediately apparent. It has been defined as "research without a clear goal" and "curiosity-driven science".

“Blue sky projects” are projects that have unbounded and often unrealistic objectives that don’t consider the constraints of the real world that might be applicable to them.

So in other words - lets have a punt on looking over there :) We may get lucky.

Billy. "As for Manica its producing and market has priced this in"

Don't agree that market has priced manica income in. Market is waiting for actual figures from FB to be confirmed in an RNS (Q2 results?) and then will react.

CB's comments don't work anymore - understandably, so his income figures are taken with a pinch of salt now. Market wants proof in an RNS

tbh I don't have much hope of CB's new acquisitions doing much ( I may be wrong) . They will be low cost though.

I still think Bushranger will deliver value (2p to 5p) when sold, but not until 12 to 18 months though.

FB will probably be the cash cow esp after plant modified. 6-8 years of income from now?

Summary - still plenty of upside from this level (IMHO) but nothing like CB's early predictions in value or time scales. Like Ntm, I will be loading up IF sp drops next week.

AIMHO

"Fortunately l think the bad news is largely priced in and there is gold revenue."

Agreed Flipper. The company have never been in a better financial position.

There was nothing said at the AGM that was not already known. No surprises.

It looks like those that have sold out are now trying to get the sp down to a lower entry point :)

I hardly ever post on here anymore as the signal to noise ratio is now not great :) But just seen some of the negative feed back from the AGM

All I can say is that my interpretation of what I heard was nothing like what has been said by some.. This is my interpretation but I guess people could see, or hear, things differently:.

1. No need for a raise unless we move for other assets and that was not in any way certain or soon. A "matter of fact "comment. I didn't get the impression we would raise to do more drilling / exploration. as FB income should cover that.

2. circa 4 years of FB income is most likely but to be over cautious 2 years min was stated. Substantial FB income expected.. My understanding is that we will modify the plant to take sulphides starting next year and do so from FB income. IMHO (Not from AGM) FB will be producing income for a number of years from Oxides then sulphides. It will be a real cash generator IMHO

3. The phrase "disappointing" was used re Bushranger but in the context that it hasnt delivered value sooner. Not that it wont deliver value later say 1 to 2 years time. For once, CB was being honest and not BS

4. End September should be when economic study ready.

IMHO there were no surprises at the AGM and nothing has changed.

I too am very surprised at the big sales just before the close..

It could be that one person (Lucky maybe ??) sold out with 2 big 1m sells, then Backtothesoil got spooked and sold another 750K in batches (according to his post he sold 750K.before close) This accounts for nearly all the late sells by just 2 people.. I don't think BTTS was at the meeting so he may have been playing "follow the leader" after seeing those 2 big sells.. If he was at the meeting I doubt he would have sold.imho

My interpretation is that BR is highly likely to be sold but later than CB original time lines and for less than the "10p I'll tell them to stick it " comment. I assume that's where the "disappointing" comment was coming from but CB did not say how much it would be sold for ( less than 10p is my view). FB income / profit should be declared in an RNS in Q2 results in a few weeks..

My view now not AGM. SP should start to rise then and further on Q3 RNS results imho

As I say, no surprises at the AGM imho and nothing which should cause anyone to start big buying or selling. ALL IMHO.

Final thought, we all want CB to stop the BS and be honest and give reasonable expectations, but when he does that - he gets slaughtered !

GLA

See you again in another few months after Q3 results :) I suspect anyone who sold today may be regretting that decision by then :).

"Its the rampers who claim to be buying that I would be wary of tbh"

The only person who claimed to be buying was me, so I assume thats another snidey dig at me.

I've has enough of this now. You give your honest opinion and be truthful and just get it thrown back as a snidey dig.

All the best guys. I'm off !

Good luck

"BUT no one ever actually declares a TR1 and there is always an excuse, even though lots claim to have well in excess of the 3% threshold."

I've been here years, and I've never seen anyone claim they have over 3%

856M in issue means over 25M shares for 3% and I've never seen anyone on here state that they have that.

If that was a snidey did and me saying I have 4 family isa accounts - I've stated that years ago and would not generate a TR1 if all were in the same account

Not when I have all my holding split into four family individual ISA accounts :)

I'm expecting the sp to start to fall sharply now....

Just had a small top up 200K and with my judgment sp will probably fall :)

If ask goes below 1.25 I'll be doing the same again.

Taking everything into account, this is seriously undervalued imho

AIMHO

Just read on TG someone asking why has more not made of the 450 to 550 a month CB stated - which is now stated AFTER production has commenced so more believable

This is a really good question.

The answer is because of CB. No trust in anything he says, even when its highly likely that he's stating the truth or very near it (according to my own calcs)

Any other co on AIM would see an appreciation in SP. on that news. But CB legacy issues have stopped that until we see that in an RNS

CB is now a liability here, not an asset imho

"CB/XTR need to RNS plant extension plans at Manica, for me it’s not clear how this works commercially e.g. do MMP pay for the capex and then XTR get 23% or is this a different deal e.g. 50:50 like what’s specified for exploration in the original agreement."

Surely it must be a 50/50 split as in orginal agreement?

I'm assuming costs will be $10M and its $5M each but we get 50% share not 23%. Extra income should be substantial but that aint gonna happen for 3 years + imho

If mmp paid for all capex then I would assume we are going to get 23% but CB mentioned that we would be paying for all / some of the plant.

Tbh honest I'm very optimistic about FB and future revenue. Just a pity CB doesnt share see it as some do and keeps looking at those lottery tickets.

I see his "looking at more acquisitions " comment today as much more damaging than he realises.

There should not be a sell-off tomorrow based on fundamentals. The MC is exceptionally low and easily supported by FB alone. Even if the FB income figures are lower than CB's guidance (quite possibly) the sp should rise when we get actual profit. This is discounting BR 100%.

There may well be a sell off tomorrow based on sentiment and against lack of trust in CB to deliver or believe anything he says . Oh and his lack of acceptance or acknowledgment of any responsibility

another question for agm

does *****on hills or jeremy reid have any involvement either directly or indirectly with xtract now

"I actually started thinking you are Colin or employed by him."

After my many recent calls saying he must go, and constant criticism of him, I assume that's your attempt at being sarcastic as well :)

His figures were in $ not £

$450 to $550 a month

The 5M was in $ not £

I agree that a loan for $5m to upgrade the plant is affordable and no need for dilution

5m over 5 years at 15% rate is 116K a month so affordable against $500K a month income, Could be $100K a month with lower rates. No need for dilution to afford that assuming we meet the $450K a month FB income.

That's also assuming anyone can believe anything he says :)

Lucky

Obviously sarcasm may not translate well in a post !

I thought my ...

"Apparently everything is doing fine and all is looking great" was the give away :)

Imho the good news was that he is going to continue to exploit FB value by building a flotation plant for the sulphides and transition ore. Orders should be in for that by end of the year....apparently.

So that should be built by 2026 (my time scale) if previous lead times are anything to go by !

Bad news is he's still looking at other small acquisitions - but nothing imminent.

Still no acceptance of any responsibility why the sp is so low. At least he didnt blame it on the war this time. That's the same war the saw the sp hit 7p 2 months after the war had started :)

Https://audioboom.com/posts/8326749-sunday-roast-season-finale-featuring-prospex-energy-african-pioneer-golden-metal-resources-ga

Xtr at 1 hr :13 mins

Apologies to Colin

Apparently everything is doing fine and all is looking great

80KG TO 100KG

Min 65kg stated in RNS so I believe that.

Thats min so we may get to 70kg. Typical CB with expectation management. That is not bad and should see £300K to £400K profit before tax a month.

But he was implying much more than that.

"Truly hope AGM can be this month"

I hope so to but I wonder if cb will try and delay it for as long as possible hoping some good news can be found.

I would expect that to be re FB income??

Q1 results should be out this week. Maybe if they are very good he may use those as the 3 week AGM trigger? I doubt it though.

Q2 results should be at the min 65kg a month production as stated in last end of year results RNS. Knowing CBs MO, my best guess is that Q2 results are released earlier than 3 months end period, say in late august (2 months after end period) and then he calls AGM for mid sept off the back of good FB Q2 results with profit stated in RNS.