Member Info for Andrew4444

CB clearly is overly optimistic and is deliberately deceptive at times, but these are his buys in the open market since Bushranger drilling started:

Jan 23 1.78 GBX 1, 250,000 £22K APPROX
Aug-21 3.50 GBX 2,054,700 £72K
Apr- 21 5.70 GBX 1,000,000 £57K
Feb-21 5.84 GBX 1,000,000 £58k

Total £209K invested of his own money in the open market. Most buys at significantly higher price than current SP so he is significantly under water.

So even he must have thought that some of what he was saying was truthful !

Never know, in 18 months we may find it was :)

For someone who was reticent about using twitter as a way of comms, CB seems to have taken to it now.

He's now doing what many do and sharing his views on matters not just related to his core activity. Now its about Notts Forest !

I wonder if this is the part of his new tactic - deny and deflect :)

Next AGM: Forget xtract SP - did you see the football last week ?? :)

less than 50k total trades today... lowest for some time I believe ?

I won't tempt fate and say "at least the selling has stopped" :)

LW

Possibly, but even if all the FB income was "wasted" then the Manica valuation (and MC) should be still at the agreed sale price of $17.5M - which is more than current MC

I'm not sure that a lot would think its 100% certain that any FB money would definitely be wasted on Bushranger. I would be surprised if CB did that knowing he was throwing money away just to pretend all is well. He would know the true situation so may well choose to spend FB income on Bushranger.

I think often in AIM the MC become detached from reality and the fundamentals (too high or too low) and this is probably whats happening here.

There is also now the requirement from most SH (I think) that they will now want to see the results and not believe anything CB says now. So maybe when FB income is declared IN AN RNS sp will respond.

CBs "interviews" are now just noise to most shareholders and that PR trick has been played out by CB and found out by SH's.

Re discussion concerning current very low MC, we paid $12.5m for manica and had offer of $17.5m a year later.

That offer is now less than the current MC ! And thats with zero value for Bushranger and not giving additional value for FB mine completion and in production ! And ignoring the small hard rock income

So even if Bushranger is written off, the current valuation is an anomaly imho.

https://www.lse.co.uk/rns/XTR/disposal-of-manica-gold-project-for-us175m-e2l0lbeow2nube4.html

Whether he is stalling or not (I think he probably is waiting for FB income) it is highly likely that copper price will rise to a level that will ensure this is economic - assuming it isnt already.

The problem for many is that time scale is now far too long to wait so they have left. And its nothing like the timescale or size CB implied a year ago so all trust, for many, has gone.

I expect this to all come good , eventually, but that may now take 12 to 18 months before we get a buy-out. It may be a case of sitting and waiting until copper price does what many expect it to do....whenever that is !

If you're buying or selling then the sp is what's important, but my point was that is not what you should look at if you want to gauge the markets view or verdict of an RNS.

the 1.63 u/t trade skewed the closing price. It was circa 15% down.

The fact that one u/t trade can do this makes my point that looking at SP as an indication of market view is not accurate

After an RNS and the SP down 15% (as we were today) many say the market has given its verdict on the RNS.

The SP is controlled by the MMs. There is not some auto algorithm that will ensure the sp is higher with more buys and lower with more sells or level with same number of buys v sells.

There were broadly the same number of buys as sells today and that determines the real market's view of the RNS.

So the market was broadly neutral on that RNS.

We did not have a wall of sells on the opening bell which also indicates the RNS was not bad (or good) imho.

Dani

I think you are getting your Steve's mixed up.

I think you mean Steve4077 and not stevemocal

The Rolls Royce may look great, but lets hope if you lift up the bonnet it has an engine in it :)

Ours was also prepared by Martyn Churchouse.

MC has some involvement in a number of CBs companies and is MD of Kendrick Resources. He was on the Sunday roast talking about our latest Zambia asset

Succession planning by CB??

Great first post MaBaker

Very similar to the first post by Dani and Russiangirl and Bauhaus :)

Yes its frustrating, but I still believe there is a good chance of a substantial re rate from FB income (at full capacity) and Bushranger. But we may have to wait until second half of the year before that happens (yes I know thats not what CB said :)

Apart from the usual missed timescales etc, one of my main frustrations is CBs obsession with Zambia and trying to find the next big thing.

"The definition of insanity is doing the same thing over and over again and expecting a different result."

Just focus all time and money on FB and Bushranger FFS !!

I feel the reason CB doent do robust DD is because he's obsessed in finding another Kiwara quickly and knows time is not on his side . I wonder if his approach would be different if he was 30 years younger??

He seems to treat these acquisitions like someone buying lottery tickets. He thinks the next one could be the big one !!

Reading the presentation today, it seems hes not going to stop buying more lottery tickets. Understandable really ,as the shareholder's are the one's paying the cost of these tickets :)

"Can’t blame their DD process for a partner being dodgy and in debt."

Yes you can.

Proper DD is done to ensure that you know that the partner is not dodgy or in debt !

So..

Kalengwa Dead

Kajevu" known as the "Matrix Project". Dead

Eureka Dead

All in Zambia

The mission statement in presentation.... Establish a small-scale sustainable copper mining company in Zambia

If nothing else, you have to say CB is persistent :)

No doubt DD was not done as well as CB implied for these projects, but he will have to go along way to match the incompetence and lack of DD on the Moz Gold fiasco. The diamond miners (sic) realised in a couple of months that alluvial Gold mining was not like Diamond mining and the wrong plant had been used to process our type of Gold. Too fine I think??

You'd have thought CB would have checked that with Moz Gold first :)

Tbh I'm not interested in any other projects apart from FB and Bushranger. And I'm not interested in presentations, promises and mission statements or CBs excited interviews now.

I now just want to see results. Hes had long enough.

Yes it was his blog I was thinking about.

https://icebergshares.blogspot.com/2022/11/xtr-jorc.html

Could it be the 730 was re RC alone and Iceberg's 1billion was for RC and Ascot?

Bottom line is that we may have more than just what the JORC shows?

"or his he including material that couldn't be mentioned in the JORC? "

Didnt Theiceberg (or may be someone else) mention this before and that was the conclusion??

Not 100% sure but that rings a bell.

Just 1 share trade gone though

we all know what that means....

Apparently :)