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There should not be a sell-off tomorrow based on fundamentals. The MC is exceptionally low and easily supported by FB alone. Even if the FB income figures are lower than CB's guidance (quite possibly) the sp should rise when we get actual profit. This is discounting BR 100%.
There may well be a sell off tomorrow based on sentiment and against lack of trust in CB to deliver or believe anything he says . Oh and his lack of acceptance or acknowledgment of any responsibility
another question for agm
does *****on hills or jeremy reid have any involvement either directly or indirectly with xtract now
"I actually started thinking you are Colin or employed by him."
After my many recent calls saying he must go, and constant criticism of him, I assume that's your attempt at being sarcastic as well :)
His figures were in $ not £
$450 to $550 a month
The 5M was in $ not £
I agree that a loan for $5m to upgrade the plant is affordable and no need for dilution
5m over 5 years at 15% rate is 116K a month so affordable against $500K a month income, Could be $100K a month with lower rates. No need for dilution to afford that assuming we meet the $450K a month FB income.
That's also assuming anyone can believe anything he says :)
Lucky
Obviously sarcasm may not translate well in a post !
I thought my ...
"Apparently everything is doing fine and all is looking great" was the give away :)
Imho the good news was that he is going to continue to exploit FB value by building a flotation plant for the sulphides and transition ore. Orders should be in for that by end of the year....apparently.
So that should be built by 2026 (my time scale) if previous lead times are anything to go by !
Bad news is he's still looking at other small acquisitions - but nothing imminent.
Still no acceptance of any responsibility why the sp is so low. At least he didnt blame it on the war this time. That's the same war the saw the sp hit 7p 2 months after the war had started :)
Https://audioboom.com/posts/8326749-sunday-roast-season-finale-featuring-prospex-energy-african-pioneer-golden-metal-resources-ga
Xtr at 1 hr :13 mins
Apologies to Colin
Apparently everything is doing fine and all is looking great
80KG TO 100KG
Min 65kg stated in RNS so I believe that.
Thats min so we may get to 70kg. Typical CB with expectation management. That is not bad and should see £300K to £400K profit before tax a month.
But he was implying much more than that.
"Truly hope AGM can be this month"
I hope so to but I wonder if cb will try and delay it for as long as possible hoping some good news can be found.
I would expect that to be re FB income??
Q1 results should be out this week. Maybe if they are very good he may use those as the 3 week AGM trigger? I doubt it though.
Q2 results should be at the min 65kg a month production as stated in last end of year results RNS. Knowing CBs MO, my best guess is that Q2 results are released earlier than 3 months end period, say in late august (2 months after end period) and then he calls AGM for mid sept off the back of good FB Q2 results with profit stated in RNS.
This is clutching at straws ..., but Shareholding is updated on website as at 1 June 2023 from 8 Dec 2022.
After the fall in Nov / dec we know Alex Terry bought more. TR1 RNS
But he's bought another 4.25m from Jan to June, right when the sp was was falling and it looked bleak.
I was half expecting to see a TR1 at some point over last few months of big sells from him and reduced holding.
I will grasp on to any hope I can here atm, and because hes still adding I'll take that as some good news :)
Whether he's HNWI or institution , that must give us a little bit of confidence for the future??
Well, I did say it was clutching at straws :)
HZ
They can do both if they are awash with cash and have done all that needs to be done on the main assets. But we have a lot more work to be done at FB to process sulphides and transition ore, exploration of area. We have more work at RC which will cost money.
When we are upto speed with that then by all means buy a few lottery tickets. But you dont buy lottery tickets before you have paid for more essential items and paid the bills!
3Card
I wasnt saying it was likely to happen. I was giving my views on why he's doing what he is re the "treasure hunts" approcah
I agree, I dont think its likely to happen...which is why he should stop it and focus on the boring stuff !
"At least 5% of the total voting rights of eligible members, or at least 100 members representing an average of at least GBP£100 each (GBP£10,000 collectively)."
5% of 856M = 43M
We easily have that number amongst our holding.
One possible approach would be to communicate to CB of our intentions prior to the AGM - which must not be that far away? 2 months? Even if its communicated via roast boys as no xtract emails are acknowledged.
If this warning doesnt work and progress not made then this issue it escalated. We must at least have 10% of company from TG and LSE combined.
That would be my approach. Final warning. Then action if no improvement.
We need a coordinated approach at the AGM all singing from the same hymn sheet as one.
It would be nice to interpret that as such and a reassurance that he has learnt from his past mistakes.
Problem is, its probably CB trying to justify his next lottery ticket buy to us , and implying that....
"this time it will be different. No really...honestly guys.... I promise !"
"I just think the man's a compulsive gambler, and using our money to fund his addiction"
Exactly.
He wants to find another Kiwara before he leaves the stage and knows he hasnt got that long left. He's taking greater risks to deliver that big one.
He probably thinks focusing on and progressing FB is just too boring and not exciting enough.
If he wants to keep buying lottery tickets then he should use his own money and not ours.
He wont change now. He needs to go.
MM will now take 1.1m
If this was a basket case you wouldn't be able to sell any or very little
On TG Kevin said there will be in interview with CB
No date given.
Poor CB. He's going to face some really hard hitting and difficult questions from the roast guys!
Roast: So Colin isnt this a good time to buy in to xtract at this very low sp?
CB: Absolutely, its very undervalued at this price and I'm utterly convinced the SP will be moving higher soon.
Roast: Thanks Colin, bye.
Btw, I should have added at the end ....
that's the added value CB has contributed to this share over the years !
SP is at a discount imho due to the CB factor
I can sell 750K.
There has not, so far, been a wall of selling and many could if they wanted to now (couldnt sell early doors).
With sentiment so low and all the lack of news and indeed much disappointing news, it COULD be that we are at or near the bottom???
We had an official offer (in an RNS) for FB 4 years ago at a higher value than the current MC - and that was before there was a working mine at FB and we had any profit. POG was much lower then as well
Interesting not intersecting...but then again if it gets very heated???