Member Info for Andrew4444

"I look at the xtract chart and think.....if only I new this knowledge a few years ago!!"

I wonder if in 6 or 9 months times some may be thinking the same again and wishing they had bought a lot more at this price??:)

I remember when SP went down to 0,7p and I was getting worried that I had made a terrible mistake investing in this. I was deeply under water. I started to think that I may have been an idiot .

I slept on it and then decided to keep averaging down and bought another 500k x 2 at 0.7p

Looking back I had been an idiot .... only buying just another million at £7K :)

I've just emailed CE to make sure he is OK . I doubt he will be selling tbh.

If / when I get a reply I'll confirm the situation.

"Why would you sell at the bottom though..."

I can only assume they have now come to conclusion this wont be going higher for some time and that they can make more money somewhere else. Which could be true in the short term. Or maybe they don't think this is the bottom?

The danger is thinking that someone else knows something that we dont (ie bad news coming). If there was a leak then we would be seeing millions of shares sold every hour - not this trickle (relatively v shares in issue) of sells.

A more benign reason, could be, nothing more than, someone has to now pay for a very expensive holiday and they left the sell too late and were unlucky with the timing of the fall??.

I think Capt Bob said he had to sell 1m to 1.5m or so, for his house extension??

Well someone has just lost patience...3 x 500K sells in quick succession !

Steve

This question was asked a few weeks ago.

The range went from Q1 2023 to Q3 2023 with mid 2023 most common prediction. But obviously those are just best guesses as no one really knows what the next news event will be which could change things. Maybe 9 to 12 months away is most likely but who knows?

I would be surprised, now, if it were this year . I think it likely that with the market the way it is, many may think the buyout will be put back and that may explain why some have sold and gone to the next "quick win" share. Aim punters have short time horizons and they may not have wanted to wait a bit longer.

If the buy-out is sooner than I and many think, then those that have temporarily left may have made a very costly mistake :)

When they have been good they have been released 2 weeks after the period ended. So IF they are good we may get them on Friday??? Hopefully next week latest?

Q2 and Q3 are usually the best quarters.

So it appears that there is no AGM this month then? Assuming the 3 week notice is correct?

If that's the case then that's disappointing as the yearly report was dated just a week ago (when July AGM was stated).

I would be surprised if the AGM is going to be just a week later, so CB may be trying to give himself as much time as possible before holding AGM - so maybe in last week of August?

With the sharp fall over the last week to 10 days maybe CB is hoping the sp will be looking much better in 6 weeks and he may know we will be getting some decent / good news before then?? Q2 Alluvial results maybe ?

I think we could all do with a bit of good news atm :)

Agreed

Apparently Alistair Ford is up for re election in his BOD position as PR man.

Maybe Tom Budszus from alliance news should take his place !

If the AGM is going to be held this month, as stated in the full year accounts, then we should get a calling notice today as shareholders have to be given at least 3 weeks notice.

Possible that CB may now want to wait until August when situation is looking better? If so, calling notice may be delayed?

My understanding is that the maximum delay period is 2 months (under previous covid exception rules ) so it must be held by end of August latest (end June + 2 months)

A different way of interpreting the RNS yesterday ??

https://www.lse.co.uk/news/XTR/in-brief-xtract-resources-finds-up-to-48-grammes-of-silver-per-tonne-1le81yuwwb25gpa.html

Xtract Resources PLC - London-based mining company focused on Africa and Australia - on Thursday finds up to 4.8 grammes of silver per tonne in hole BRDD-21-041 at its Bushranger copper-gold exploration project in New South Wales, Australia. Also finds up to 0.70% copper equivalent at the hole.

Meanwhile, finds up to 0.30 grammes of gold per tonne in hole BRDD-21-040.

"We will now advance planning to define the conceptual open pit on the back of the drilling results, updated resource modelling and metallurgical test work completed," says Executive Chair Colin Bird.

By Tom Budszus; tombudszus@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

I look forward to when the list gets down to York racecourse:)

How many porphrys did CB say :)

Screenlearner

In a recent discussion re sale date the views were Q1 to Q3 2023, with mid 2023 most common.

I'm sure most of that time frame would have been made up of more drilling and modeling, not negotiations. So I would think that many think there will be more work to do - more work than CB has implied or even stated?

I really dont have a problem with that. However. my slight concern is why?

Is it to exploit more value from the area before sale ie exploit the Golden Bonanza at Ascot etc and really not to give away a cadia as CB said. Or is it because CB has not been able to get to 2mt and needs Ascot / Footrot to help get over the line or even just nearer the line?

Thats more of my concern. I'm more inclined to believe the former. I hope so anyway!

"Given the current copper price, I can't see a sale happening quickly"

Before the POC drop, I didnt think there would be a quick sale as there was still work to be done, probably more work than CB had implied tbh. I was thinking Q1 2023.

However, I dont think the drop in POC will affect this time scale for sale, as I'm sure the major prospective buyer has a better understanding on 2030+ POC than most :)

Those that are selling are probably not giving our situation much thought and are adding 2+2 and getting 22, If we were a copper producer now, then that would be a concern.

Maybe Two RNS’ due soon???

I believe that it stated in the full year accounts that the AGM will be held this month? If so, then we should get a calling notice this week as shareholders have to be given at least 3 weeks notice.

Also, depending on Q2 Alluvial results, we may get these late next week? If they are good or better than good, then they are usually released 2 weeks after the period ends.

If we dont get Q2 results this month then I suspect they will be decent / reasonable at best.

The AGM should be very interesting this month.

Butler

It may take until September / October with results, before the market realises we are a Gold producer at Manica with FB, as CB seems to want to keep that quiet at the moment :)

Bloodbath today in commodities. Surprised we are only 1% down with the big sells.

I guess some dont realise we will not be a producer until 10 years time and the POC then is what counts

Thankfully the prospective buyer will realise that todays POC is not critical .... but the POC in 2030s :)

I would be amazed and delighted if we had a sale this year.

I would say Q1 2023 is more likely. That said, over the years I've been here my, some may say rather pessimistic predictions, have all been proved to be completely wrong.

In time, they've always been shown to be far too optimistic !

Just add 6 months on to whatever CB has said and that will be more accurate than his original time scale.

re Copper.

I suspect the recent POC fall may not last that long :)

https://news.sky.com/story/how-the-electric-car-industry-is-turning-copper-into-gold-12643235

Re Lucky's point about things left to interpretation...

"As with all porphyries, however, a full understanding requires much drilling to define the full potential and our projects are no exception. The phase 2 exploration programme is about to be completed and when we have modelled and evaluated all the raw information, we will be well advanced on the value curve and able to position the project in the global market."


So does that mean we still need to do a lot more drilling to define our full potential? Or does that just explain why we did so much drilling and its now all complete and we are evaluating info?

Can be read both ways imho.

And

“ position the project to global market”

That comment could mean AA have said they are not interested and we can start a bidding war with all other companies?

I think you could interpret that main para above as either very good news or that we have a lot more drilling to do to get us over the line.

IWTO

I'm no expert on land banking, but surely any sale price will be based on the POC when the mine is thought to be going into production? As it will take circa 10 years (very quick) to build the plant and get into production, and remembering the LOM will be 25 years min, I would think that any buyer would be trying to determine the POC in circa 2030 to 2060.

So the downturn recently, or even over the next year, may not be as significant as intuitively it seems.

With the Green revolution and EV revolution, I dont think any analyst would think that POC will not be higher (possibly significantly higher) than its current all time high by the time that the mine is starting production.