Member Info for Andrew4444

I think the margin the buyer wants will be in the 97% of in ground contained copper value.

I can understand why Cornford would want to distance himself from any possible accusation of ‘investment advice’ or being too rampy with his previous SP predictions. He has declared that this is now his biggest investment so may need to be a bit more circumspect with what he now says. And that's what I think he's now doing

He has been inconsistent with one point he makes though. In the earlier article he claimed 3% was ‘conservative’, but has now claimed that ‘some of the best prices’ in the last copper bull run were around 3%. So the 3% has gone from being conservative to best price.

Anyhow, even at 2% (2mt and $9500 POC) this comes out at 27p.

I would think we can add 5p min for African assets when income producing - so plenty of upside and no doubt why this is Cornford's biggest holding and why CB bought another 1 m recently.

BTW, If anyone is doing any calcs I would recommend they use 1Billion shares in the calc. 840M in issue and now 150M warrants and options.

Of course AIMHO

Hi James

I know it was only for FB. We are on the same page re anticipated income figures.

I've said many times before, the empress buy-in now makes FB a certainty as they would not have invested the money they have on a hope and pray.

The timing and exact amount of the income steams may not be known, but it seems certain we will be getting a significant increase in income within the next 12 months and probably sooner.

Looking at my notes, from the webinar interview in Oct, CB said $650K a month from FB and GF+ alluvials mk2. $250K to $300K from Eureka.

He later said that $200K was from GF + alluvails Mk2 so I assume circa $450K from FB alone.

When all producing income he expects circa $800K to $1M a month. Obviously we will miss the latest CB timescale of late Q2 for FB build but I expect the $800K to $1M a month income by late Q4. Probably GF producing some income first, hopefully by summer?

He also said he expects $700K a month from Kalengwa, but no time scale for that.

I appreciate this is all irrelevant to some as by the time this income comes in Bushranger will have ensured the sp is over 30p and these income streams will only increase the sp by 1p !

(That was for all the newbies who joined post Bushranger :)

Ella

As far as I'm aware there has not been any update on Boa Esperanza Agreement. So this should have been in production by now.

Joe

Empress have already provided their estimated FB build date (oct) and income date (by end of the year so Nov/ Dec).

From 1m in.

CBs latest guidance for FB mine build was end of Q2. That has not yet been updated to my knowledge.

I wonder who's going to be right??

https://www.youtube.com/watch?v=MQek1ntGibE

MMs control and decide the sp.

There is a difference between insider trading and insider knowledge.

Any CEO can't help but know more info about their co than the shareholders. If that knowledge stopped the CEO buying shares then no CEO could ever buy shares in their company.

This has been discussed before. Some have said it’s unequivocal that the buy-back agreement refers to all of Bushranger, not just Racecourse.

I’m not so sure.

The start of the agreement is below. If it was for all of the licence area then why have the word RACECOURSE in the opening title? Why not just state the licence number and not specifically refer to Racecourse?

I think it can be read two ways so I don’t know if the agreement is racecourse only or all of the licence.

If the agreement refers to all of the licence then once we hit 2mt at racecourse how are the other assets valued? Are they assumed to have no value (as no drilling done) so AA get them for free?


;Anglo Buy-Back Option To Monetise Project Value Racecourse Deposit - EL 5574 '

Cyber

To avoid confusion, I have no idea how good / bad / average the assay results will be. My point was that Aim rules are not always strictly followed and NtM’s point was that info is withheld. He’s right.

I have no idea if that is happening now. No one does.

Apart from CB !

Re this issue of withholding price sensitive info.

I’ve been here 6+ years. The alluvial income has been the only source of income and after the quarterly returns were released, understandably, the sp move sharply (obviously up or down).

The returns were released at different times after the quarterly period had ended. Earliest was 3 weeks after the quarter ended, usually about a month but slowly this moved out to 2 months and then, nearly 3 months after the period ended.

The last return was the latest ever – 3 months after the period ended and this was the lowest ever income produced.

I find it hard to believe that this price sensitive info was being released exactly when CB had the info. Did it really take sometimes 3 weeks, or sometimes 6 weeks or sometimes 3 months to work out the income from Gold sales each quarter?

And make no mistake, as this was (is) our only source of income it was highly price sensitive and significantly moved the sp.

This is Aim with its very very bendy rules. CB will do what he thinks is in the best interest for Xtract.. Info management is one tool he has.

IMHO NtM is bang on the money.

https://stockhead.com.au/resources/copper-supply-demand-outlook-creates-perfect-storm-for-next-generation-of-explorers-to-producers/

Not too sure if this link has been posted before.

It starts off by stating the usual - that copper demand will rise - but second half of article is a very interesting write-up about Lachlan Fold Belt and M & A.

“Given the favourable outlook for copper demand versus supply, the implications to pricing, with the industry’s project pipeline already being at record low levels, it is likely the trend already being seen in Canada for accelerating M&A will also increase in Australia for juniors with attractive projects".

Xtract even gets a reference - albeit a minor one in the Key to the map!

That could work... Carry on up the Porphyry ??

Jack Douglas has to play CB

The line to to Barbara Windsor...

'I can see a lovely big pear'

(Sorry, getting bored waiting for news!)

That joke doesnt work if he said Pear.

My joke of 'its all gone pear shaped' doesnt work if he said Bear.

Come on CB give us some clear guidance on this critical issue !

God, it can be so stressful and confusing investing in Xtract :)

https://masterinvestor.co.uk/equities/johns-mining-journal-bacanora-lithium-and-armadale-capital/

Not much comment in this article but Cornford does say....

'Hence the investor rush for developing copper and nickel suppliers, where many miners, large and small, are well into the early stages of new exploration and plant building. (Xtract Resources (LON:XTR), for instance, which remains a strong buy in my opinion)'.

If the market did understand about porphories and associated grades, then the sp would not have dropped 20% over the next 3 days , after good hole 1 assay results were released.

The sp would have gone up 20% after those results, not down 20%.

AIMHO

Sq52

>>>>>.SP increase drives by assay results, TR1 investors, modelling, granting of mining licence and finally JORC.>>>>>>>>>

I agree, but apart from assay results, none of those drivers have happened yet.

The assay results, as yet, have not driven any rerate. I suspect the reason why assay results at GGP did start a sp increase was because they could be understood and compared with conventional mining grades. As I said earlier, the market doesn’t understand Porphyries so our grades may appear very low in comparison to other Cu grades.

That is why I don’t think our assay results alone with be a driver for any rerate. Maybe I'll be proved wrong after 5 assay results?

I think the first real driver of a sp rerate will be TR1/ investor notification. Unless, of course, the market starts to understand about Porphyries and their grades !

Lets hope the H2 assay results are 'anomalous' in a good way !

I am expecting H2 results to be between 0.2% and 0.3%. I think that would be fine, but as the market doesnt seem to understand Porphyries, I think the market may see those grades as poor?? We may get a pull back like we did when H1 assays were released - even when those grades were 0.33% .

I'm starting to think that drill results and assays are not going to be the catalyst for a rerate. We may need a JORC?? Or confirmation of Institutional Investor?

If the market understood Porphyries or what we have here, the sp would be well over 10p by now imho

Just gone N/T on x-o account.

6.72p sell

No problem buying at all all day.

Been getting quotes for some time of 6.75p for anything up to 500K shares.

x-o account