Member Info for Andrew4444

IWTO

Further to the 2Mt we need before AA will consider the buy-out, - you may not be aware that there is already 0.3Mt of contained copper confirmed from previous drilling by Prospect Ore (the co we bought Bushranger from).

0.44% Cu x 71Mt
https://xtractresources.com/wp-content/uploads/Bushranger-Summary-Presentation_April-2020.pdf

However, that’s at 0.3% cut off. Grades can go down to 0.15% Cu and still be economical, so AA may consider that there is already circa 0.5Mt confirmed – if so then only another 1.5Mt to find - we are now drilling into areas of much higher grade.

Shorn

Sorry I don't know exactly but my understanding is it would be 12m to 18months. IF all goes well I would expect the AA buyout to be sometime next year.

Others who have more knowledge on this may have other views.

Agreed LW

But with the jurisdiction we are in and the infrastructure being so good, I think we would be looking at 2% to 2.5% buy out. 2% is common.

Of course, this is all subject to us getting to the 2m which is obviously in no way guaranteed. But it's looking good.

Maybe looking even better by Monday....

James

Although FB is due to be completed by June, I've assumed that will be Q3 - only because things usually slip.

A placing at this MC is not as bad as in the past. Apart from exercise of Warrants, I dont think we should need any more dilution due to additional income due from Q1 to Q3.

I dont think many newbies appreciate the increase in income that is due from other projects.

There is $200K income a month due from GF +alluvial mk2. We should get that from February which should abate any talk of placings. Eureka should add the same monthly income in Q2 and we will be getting £400K a month from FB by Q3.

A lot of new posters have appeared recently. Understandably they may not be fully informed of all details concerning the company.

Well done CE

Hopefully all LTHs can now start to make significant profits. We deserve to !

The problem LTH may have soon (hopefully) is deciding when to sell? 6p 10p ,20p? Or maybe higher??

If so, that's a nice problem to have :)

snap gixxer :)

Have to say, I'm very surprised sp hasnt spiked after that RNS.

Maybe a few slow readers :)

As an LTH I’ve found CB to be deliberately deceptive at times (that’s being kind) and he implies that his aspirations are reasonable expectations.

He’s a chancer and a gambler - I think that best describes his approach. When you buy shares in one of CB’s companies, you are not making an ‘Investment’ imho but placing a bet – with all the high risk and reward that goes with making a bet.

My analogy is: CB is like the professional poker player who you give £10K to in the hope that he has the skills to make the £10K into £100K. You may lose the lot or the poker player may be giving you back a lot more than you gave him.

It now looks like CB is holding four Aces, and has two more up his sleeve.

New high??

I was buying this years ago when it was 50p equivalent :)

never know, it might just get back there in 18 months!

Could have been a buy from one of the guys doing the drilling :)

Gixxer

You maybe right. That's why I said they (AA) may calc it at between 312K and 690K.

I dont know for sure so I would rather assume worse case option, but its not unreasonable to think AA would have a lower cut off then our 0.3% .

James

Ahh yes thanks. That may be it.

So I wonder if that means AA use the 0.3% cut off in their 2mt threshold or not?? I assume they do but if not, then we are already at 35% point of meeting AA threshold - even before first drill result.

I believe that grades as low as 15% Cu can still be considered economical, so they may calculate the current contained copper as being between 312K and 690K ??

Maybe.

In the Master Investor article it states:

Bushranger contains the Racecourse deposit which, so far, has delivered an inferred JORC resource of some 690,000 tonnes copper equivalent, with subsequent drilling showing much wider mineralisation.

But in the April 2020 presentation it stated 71Mt at 0.44% for racecourse = 312,000 tonnes of equivalent copper?

Have I missed something here?

Hello CE

Sorry I wasnt clear.

The £100m was the final resource value after all drilling results, not just the first one !

I agree, its unlikely this one drill will increase MC by £100M :)

Further to the ARC comparison, Calder Cap on twitter looks at what happened to SolGold. The important thing to note is what happened to the MC not the SP. Solgold was at 60M mc.

A companies SP may double because the MC increased by say £100m to £200m. If our mc increased by £100m the sp would more than double !! We are starting form a very low base. So for a true comparison with other companies best to look at their increase of MC not of SP.

Obviously this is all subject to what the drill results actually are.

Solgold example:
https://twitter.com/CalderCapital_/status/1349701181443026945/photo/1

QLW/Spaceman/Dragonslayer

Not too sure why you say you took my advice to sell. I never advised you to do that or even implied it.

Well done on making a profit though.

A steady increase in SP in anticipation of results?

It looks like the traders left this morning with their 50% profit over last few days.

May be the path is now clear for an sp run up to 3p??

We'll see.

Further...

'The Company can use the Facility, at its discretion, to fund the working capital requirements of the Company and its subsidiaries as determined by the Company'.

AT ITS DISCRETION

Gixxer

I didnt sell any in the last two 'above 2p' rises, as I was sure this was the transformational moment and the rise would continue!

Oh well.

It does seem different this time though.

We'll see.