Member Info for Andrew4444

Agreed.

To illustrate, we were about to sell Manica 6 years ago and had a price agreed of $17.5M

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

That's about 1.7p at current total shares in issue

Moreover that was before he had any income from manica alluvials and no new hard rock mine producing income there.

If we write off all of Bushranger (which is obviously silly to do) we must be at 3p as a conservative fair value estimate

We all know CB exaggerates, but why would he say the things in the last two interviews knowing that in a couple of months the truth will be known and its a complete disaster? He knows there is no spinning the independent report

He maybe a lot of things but he's not a complete idiot and to release the economic study with a required POC of say, $11K would surely see his rep in tatters and he would be finished. Even he knows he couldnt spin that away.

He said, that 10 years ago we may need to park this, so he is implying we wont need to that now so therefore hes saying it is economic and has value.

I guess we'll find out if I am naive and if CB is stupid in next 2 months....

"Now that the updated Racecourse Mineral Resource estimate has been completed, we are working on the maiden Mineral Resource for the Ascot Prospect, which we expect will significantly increase the overall mineral inventory on the Bushranger Project. "

This was in an RNS so not CB's usual BS. Ascot is expected to significantly increase mineral inventory.

I'll wait for that to be added to the economic model, completed by independent experienced professionals using bespoke software programmes before coming to any premature conclusion.

Some more facts...

circa 58% sells v 42% buys..but down 17.5%

1.6% of total holders sold..so 98.4% didnt sell.

Steve4077

You obviously won't have ALL the info available to the independent group who do the economic study.

If it really is that simple and this could be done on a spreadsheet in a few days, then I doubt it would take months to compile these reports.

Its honest of you to confirm that you sold out just before released that damaging post.....

Joe

I think I'll wait for the independent economic report which has all the info.

Even if Steve thinks he's being honest, that doesn't mean his calcs, based on very limited info, is correct.

SP was holding up fine until Steve's posts so obviously thats the reason for the drop.

SP was holding up ok today before Steve4077 "Analysis"

I wonder why someone who is invested would want to post such a damaging conclusion...hmmm

I think I'll wait until the economic model is released in early 2023 rather than trusting one person's view who wont have all the info.

LW

I've listened to the Thursday interview twice and my understanding is that we don't need to raise the money but just show how we would raise it. CB talked about showing AA the "figures" but my understanding is that he was talking about the figures in the economic model.

The model is designed to show that there is a business plan which shows there is a viable business model that could be financed and would result in a profit and when, against reasonable assumptions and proven figures. Think of AA as being the bank who are looking at a business plan to see if you should get a loan in principle.

So my understanding is that we don't need the financing, but a credible pathway on how we would get it and when and how much profit we would realise.

Gooner221

Yep, and maybe CB will now realise that the short term benefit of being overly optimistic (yes I'm being kind) is paid for with interest when the facts are known. That may mean he will now be more circumspect in what he says?

(Yep I know that's nonsense and he will carry on giving us his wish list of events in interviews pretending they are realistic or likely expectations)

XTRACT AT 45MINS 15 SECS

https://audioboom.com/posts/8203544-sunday-roast-featuring-hanno-pengilly-ceo-of-ncondezi-energy-aim-nccl-est-ben-tm1-jlp-xtr

"Colin quoted the open pit will deliver 200m (presumably $) per annum revenue. How can he quote that revenue figure without already knowing whats in the study ? "

CB said that in an interview. Best to take it with a pinch of salt or best just ignore it.

Its probably what he thinks could happen or wants to happen, rather than any empirical evidence supporting that figure.

" I'm still considering 20p as easily within reach"

Possibly, but I think the main driver in determining any buy-out price will now be POC.

We now have a good idea of Mt, even though it my increase a bit, so the biggest variable will be POC IMHO. CB said they will play around with different copper prices and see what figures they get (after model done). I bet they will show a massive difference in economics depending on POC used.

As we all know, the relationship of POC to profit is not a linear progression, but a geometric curve progression.

Whatever level POC needs to be to ensure a sale or to ensure best buy price, I'm sure it will get there before end of next year at the very latest.

"Andrew - you should volunteer to take on the PR for XTR!"

Thanks but Andy Mills has got that covered :)

If I worked with CB, I suspect we would have some "professional disagreements" on the best way to promote the company and what should and shouldnt be said in interviews:)

So, prospects still very good but we may have to wait another year.....lyrics are spookily accurate for Xtract SH's :)

https://www.youtube.com/watch?v=-b3XTj5G_SA

I agree.

The worst case scenario here IMHO is that we may need to "land bank" this asset until POC moves higher. I'm not saying that will need to happen but if it does then we may have to wait a year longer then expected.

Obviously some will then sell and move on but the 1.1mt is not going anywhere . We will have the FB money to more than just keep the lights on so no need for any raises. Just wait for POC to rise as it definitely will do.

Btw, this is the joint 9th biggest copper discovery in the world over the last 10 years. Just our near surface 0.6Mt is the 12th biggest discovery in the world over last 10 years.

See page 8 of link

https://app.sharelinktechnologies.com/announcement/asx/9bfddbc86ca010b468d54a28391fcc78

This is a good illustration of what annoys me about CB. Gas lightning and no accountability:

Todays interview at 5m .20 sec
https://audioboom.com/posts/8201622-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr

"If I just went chasing THIER magical 2mt..some people have got it in their head that the 2m is magical.. "

Interview last year at 45 secs in

https://www.share-talk.com/colin-bird-executive-chairman-of-xtract-resources-xtr-l-interview-2/

"We feel that that magical 2mt which triggers the Anglo option is very achievable"

So last year HE used the term magical, then today he implied it was the SH who used the phrase and is critical of the term.

Its a minor point in substance, but illustrates his inability to take responsibility and moreover, try to blames others.

Btw, the full interview last year has not aged well. Best not to listen to it all as it may cause offence :)

Steve

I think its CB's baby and he wont let anyone else take the lead. They maybe too honest :)

Many years ago the much maligned Alistair Fiord did his one and only interview for Xtract. We all, including me, were amazed at the lack of promise and hope he had in the interview. We were all addicted to CBs BS. AF was not very complementary about the alluvial Gold income and said we hope to start doing some "proper" mining.

On reflection he was just being honest, factual and no spin. CB never let him do another interview for Xtract again

We need someone in between the likes of AF and CB. Someone who promotes the company, who has CB's enthusiasm but doesn't go over the line and make unrealistic comments bordering on BS.

I just can't help wondering where the sp would be now if CB had given forward guidance of 1mt to 1,5mt and we had delivered the same good result of 1.1 mt from racecourse.

The crazy thing is, we have now got a very big copper resource with a great 0.6mt near surface Cu.

Rightly or wrongly, I'm tempted to say, years of CB's BS has just caught up with him...and he's paid for it with interests (well we have ).

Agreed SteveM

A PR disaster is right.

Acquisition mode and "I feel your pain" comment ......misjudged !

After the last two days, one way to stop the SP fall would be for CB NOT to do an interview tomorrow:)

That should get the SP up :)

LW

Just for clarity, I wasnt recommending that they should sell, or even buy

Its up to SH to come to their own conclusion on what they should do but obviously if anyone thinks SP is going to keep going down then they know what to do.

BTW Since that big sell, the ASK has gone up :)

Later next year not this year