Member Info for Andrew4444

If I remember rightly, we have a 50/50 agreement with KPZ re Eureka, so we will be getting 50% not 100% of income.

I believe KPZ funded half of all costs?

You're far too generous Steve. I'd give it 1/10 for the de ramp as it was so transparent.

What made it so obvious, as a de-ramp, wasnt the post content, but the user name ! :)

Agreed. Xtract would have fitted perfectly into his Lachlan Fold list.

As a shareholder, all he would need to have done is to state that he was a shareholder for full disclosure. I've seen many mining journalists state this and then mention the company in their article. John Cornford for one.

If you think his omission of Xtract was weird, you should have heard his one and only interview on Xtract after his appointment.

It seemed like he had just shorted the company prior to the interview :)

An article from one of our own Board of Directors, Alastair Ford - and he didnt even mention Xtract in his list !

Hope we're not paying this guy. Esp after his infamous one and only interview re Xtract ...which saw the sp fall!

https://www.bloomberg.com/news/articles/2021-05-01/the-price-of-the-stuff-that-makes-everything-is-surging

Hello Muchbox54

Welcome back!

I remember you from your fleeting Jan 2021 position in here.

Looking at your xtract posting history, your opinion has certainly changed since 20 Jan and 21 Jan when you left!!

Hopefully you will be here a little longer than last time !

Good luck.

copper just broke $10K on LME

so economic cut off point is now down to 0.15%

I wonder what the cut-off point is for POC $12K :)

12M shares and 20M options

options:
3,333,333 at 1p
3,333,333 at 1.25p
3,333,333 at 2p
10,000,000 at 10p

So plenty of incentive to get the sp higher

>>>>>>>>>>However, to change the plan, to issuing of a single batch of results for the entire phase 1 drilling programme, would be a material change to the plan that the market should be told of.>>>>>>>

Yes agreed.

But this is Xtract and moreover a company run by Colin Bird. The above would be classed as a minor misdemeanour compared to some of things CB has done or moreover, should have done, over the years here !

CB will do what he thinks is in the best interest of the co and shareholders. And, rightly or wrongly, that may mean not strictly abiding by those very bendy AIM rules or keeping shareholders fully informed of a change of plan.

I'm not justifying his actions, I'm saying that's how CB works.

>>>>>Why publish XRF/assay's for H1 and then hold off on others if they are similar in grade>>>>>

It could be because after the first assay results, which were reasonable, the sp fell 30% over the next few days. CB may now think that the market doesn’t understand porphorys re grades (ie 0.25% to 0.3% is reasonable, market thinks it’s very bad).

Because of this, he may have now decided to release all phase 1 assay’s at the same time and also issue with supplementary comments explaining what this now means ie implying that we are now very likely to reach 2 mt or comments like that).

He wont be able to make such a statement against individual assay results as he will need all phase 1 assay results to make such a ‘big picture’ statement.

The sp reaction to reasonable H1 assay results may have changed his approach?

AIMHO

Gixxer

As many LTHs know, I've been very critical of CB's forward guidance but that is usually against timelines or not 'mission critical' issues. If CB has been 'optimistic' with something as vital as grades, then he will be destroying all confidence in the bushranger project. The SP would collapse imho.

This would be too big an issue for him to BS on imho. CB maybe a lot of things, but he's not an idiot.

I think he has a good idea or knows what ball park the grades are / will be. I know this may contravene AIM rules but that happens all the time! And a lot worse. This is AIM !

CB said on 23 Feb ************* interview

‘We all know these systems (Porphorys) are between 0.25% and 0.45% Cu’

And on 19 April ************* interview

...expectation is of grade between 0.38 % to 0.45%'

….. ‘sure we can get the tonnage and grade (to get to 2m)’

If the average grades are less than 0.25% then trust will be lost after his previous comments. I still think the grades must have been, at least, reasonable to raise another £5M and undertake a second phase drill campaign.

Surely CB wouldn't be so stupid as to make those comments and also to have another big raise, unless he was sure of what the situation was?

My best guess would be Jeremy Read.

Experienced mining executive and currently on xtract BOD

end of month = end of May

By my calcs if CB is intending to do one RNS covering all assay results, then we wont get them until end of the month. I think this could now be the case.

If so, then we may see the sp drift down to 5p??

If the prospects are as good as many on here have said over the last few month, then I think many should not be worried about an sp fall, but pleased at an opportunity to buy more at 5p?

As I honestly believe this will be going way over 10p, likely 20p and possibly 30p, I am relaxed at any sp drift down as it will only be temporary .

Of course AIMHO

Hi Ella

It may have slipped but still within the same quarter? The fact that, only yesterday, they are still stating Q3 gives me confidence that it will still be Q3.

Unless of course CB's last update is still correct and construction will be completed by late Q2 :)

I wonder when CB will tell us that his guidance of late Q2 has slipped? Probably June !

Yesterday, Empress Royalty did another update on their investments which briefly covered FB production.

Nothing new but they are still saying Q3 production, so at least it appears there is no slippage in completion date for FB.

I'm expecting Sept as the production date.

From 2 m 45 secs.
https://www.youtube.com/watch?v=mtuCSfM_Oek

More than

strangely your post has just appeared. Sorry didnt see it before I posted.

make that $9700 !

Copper now above $7300