Member Info for Andrew4444

I'm sure a lot of GGP holders felt very happy when they sold after 10 bagging.

But not so happy when they looked at the sp a year or so later :)

It's so obvious what you should have. done .................after the event.

I didnt sell any when this spiked above 2p a year ago, only for it to drop 50% over next few months.

I didnt sell any when it spiked over 8p only to drop 50% again over next few months.

If / when this spikes again, say over 10p over a few days. and I then sell this time (not to be fooled for a third time) I just know it will then double to 20p quickly :)

I won't be selling any until 20p and then just a small amount as I expect it to go much higher.

Of course I may be completely wrong.

Drill results for the SE extension are going to be significant imho. IF they are encouraging then the sp may finally react to good drill results due to the likelihood of larger open pit.

That said, we wont know how good until assay results are out.

Looking at companies house....

For info. Draw your on conclusions.

Kjeld Thygesen is a director of Lion Resource advisors. His Company Sec is Raju Samtani.

Samtani was a director of Kiwara Resources when CB was Chairman of Kiwara Resources

CB sold Kiwara to First Quantum..........

It was a 50/50 toss of a coin guess, up or down, and he guessed right.

Lets see if his other guess is correct, stated 3 months ago.......

"XTR was exciting a few months ago and like I’ve kept saying, the SP will not reach 9p again"

Yes CE that could be it.

He may have mis spoke and said four in stead of Q4??

Hopefully that explains it.

Jezzoo

I noticed that too. Was it an edit or did CB stop himself right at the last minute??

Either way, the comment " i'm afraid " implied it was going to be a longer time than he would like.

Assuming I've got my basic trigonometry right,

H9 was drilled to a depth from service of 724M and distance from pad was 128M.

H10 was drilled to a depth from service of 769M and distance from pad was 133M

As far as I can tell, the only way we could have intersected east and west zones is if the pad was very close to the border of both zones. Well that's my understanding unless I've got this completely wrong.

May be I'm being greedy or just delusional, but I'm here for a lot more than 10p !

"Sp had already pulled right back in p1 before assays"

First assay results 19 march.

SP close day before just under 7p

sp 2 weeks later 5.6p

Next assay results saw a 10% fall over next 2 days.

Although the drilling results in the RNS looked good, I suspect the market is waiting for assay results before it reacts.

We seemed to have very good drill results in phase 1, but the assay results may not have been as good as some had thought they were going to be. Hence the sp fall.

Very quick mention at 7m 15 secs

This interview was yesterday so very current.

"Manica starts in Q4"

. So slipped from end of Q3. Is Q4 Oct or Nov or Dec though ??!

https://www.youtube.com/watch?v=ASKGQJXlvqc

Lucky

RNS for open pit study stated 0.414Mt so the cont copper has increased from 0.312Mt at 0.3% to 0.414mt at 0.15%.

Thats's prior to any new drill results incorporated for a new JORC. Its not unreasonable to think the JORC has at least doubled with current drill and assay results. Probably more than doubled. IF SE area is another open pit then that will take us to 1.64mt (0.41 x 4)

Assuming the area has more mineralisation outside the current open pit (likely) then I don't think the 2mt is out of the reach. In fact it would seem reasonable to assume it could go past it.

"Like most here, I'm hopeful that the SE IP anomalies come up trumps"

IMHO one of the most exciting / important parts of the presentation was at 20m 10 sec when we saw the size of the SE IP against current open pit AND the fact that, as Jeremey Read said, the previous IP at the open pit did correlate with good mineralisation. So, imho, there should be a very good chance that the SE IP results, just next door to open pit, should also correspond to good mineralisation.

No certainties or guarantees, but the odds should be well in our favour of another area , at least the same size as open pit with good mineralisation.

https://www.youtube.com/watch?v=AEIwR_0S7SE

20min 10 secs in

Previous studies showed that Cont copper did increase by over 50% when cut-off grade was reduced to 0.15%. However, my understanding is that the open pit study gave an accurate figure against current resource of 914,000,000 lbs of cont copper at 0.15%. See info below from the RNS for open pit study.

That amount in lbs is 0.414Mt so the cont copper has increased from 0.312Mt at 0.3% to 0.414mt at 0.15%. So x 5 increase required not x 4. to get t 2mt

That's assuming I'm reading the info correctly. Happy to be corrected.

Cut-off Grade (Cu%)

0.15

Total Ore Tonnes (mt)

162

Copper Recovery (%)

86.80

Copper Produced (000lb)

913,788

LOL !

I've just seen your post capital. :)

As the angle was at -55 degrees, my understanding is that would be at an angle of 35 degrees from one side of the triangle. (ie 55 degrees going clock wise from the ground level which would be the x axis on a graph)

At 850m and at an angle of 35 degrees, that would mean the depth from surface would have been 696m. That's assuming I have understood the angle of drill into ground correctly !

I may have misheard CB's comments in last weeks interview but I'm assuming hole 1 was stopped last week as CB said last week...

"We had to wait a while for it to stop"

So that sounds like it had stopped before the interview? He also said we will be reporting on that soon, so again that implies it has stopped .

I hope I'm wrong, and we are still drilling H7, but the delay could just be down to CB'S tardiness in reporting?

Screenlearner

I think you may be over thinking my post.

In the heading I said "Potential". It was just examples of what had happen after a discovery was made. As you say, these are examples are strong rises and others companies have not done as well. That's why I picked a middle ground figure of £400M increase and why I think it unlikely we will get the exceptional rise that they had.

I did caveat the findings at the bottom of my post.

I’ve been looking at how the market cap increased for other small cap miners after making a discovery, and over what timescale. OK this may be irrelevant as we don’t know what we have yet but it does show the potential increase and how quickly they can rerate.

My starting point for the figures below, was NOT the lowest the sp was, but the point just before the main rerate. In my comparison companies below, the sp had stated to climb and then had fallen a bit after the initial climb. The start point was a few months before the main rerate . End point was highest sp.

I would say our equivalent starting point would be at the recent low of 3.2p (after the share rise to 9p and then the fall back).

Greatland Gold
MC £65M to £1473M. Increase of £1408M over 12.5months

SolGold
MC £68M to £1048M. Increase of £980M over 12months

Eurasia Mining
MC £96M to £1140M. Increase of £1044M over 8months

These increases support Commodity Fund Manager, Willem Middelkoop’s, assessment that the MC of these junior miners can easily increase by 250M to 1000M after a discovery.

As we have circa 1billion shares (fully diluted) those increases IF they happened to Xtract, would see an sp increase of between 98p to £1.40p (from 3.2p starting point)

Those MC increases are unlikely to happen here imho, but even at a relatively low increase (compared to the three examples) of £400M to £500M, that would see the sp around the 50p mark.

This may well be an unscientific comparison as all companies are obviously different, but it does show the fantastic potential here of a significant rerate if/when we start to get good news from phase 2 drill campaign.