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Where are you getting that info from???

It makes me laugh. I was the one getting carried away with the potential here.

I was genuinely expecting the 3 drill hole lengths of 46.4 metres, 95 metres and 66.2 metres respectively all to come back at 5% Cu plus and with maybe some high-grade silver as well. With my very large holding due to averaging down and buying at 0.6p I was dreaming of the share price going to 2p, 3p and even 5p or 6p, giving me a massive 6-figure profit. Unfortunately, that hasn't materialised - or not yet at least.

Hole 001 has shrunk from 46..4 metres to 23 metres and with a grade of 0.74% Cu that is nothing. Hole 002 has shrunk from 95 metres to 54 metres and with a grade of 3.18% Cu is good but not the sensational 5% plus. Hole 003 has also shrunk from 66.2 metres to 29.7 metres, though it does have the best grades at 4.15% Cu but that still isn't 66.2 metres at 5% plus. And the silver throughout is low grade.

All in all, I would say that today's assays show why Mr Bird has been so subdued for the past 6 weeks or so. He hasn't been shouting from the rooftops because while the assays are good in places they are not sensational.

To be honest, I was expecting better grades and widths. What more can I say.

I have also been stuck with some of these shares for 2 or 3 years, with the share price going nowhere. I didn't have a huge amount - 150,000 shares which cost £7948 with an average of 5.3p - but prior to the Silverking drilling when the share price was sub 0.6p they were worth just under £900 -- in other words, a huge paper loss of over £7000. Due to acting very quickly when the Silverking drill results were announced on 13th March, I managed to average down and I have now turned the loss into a profit of about my initial outlay, which makes me very happy.

I concede that Microcap1's post was correct in a way. In the Midweek Roast podcast, Mr Bird admits that they had a high-tech scanner at the drill site so they would probably have known that the assays were never going to live up to the drill reports for the 3 holes, which is why he didn't do a podcast at the time. Ominously, there haven't been any subsequent updates on how the drilling is progressing.

To be honest, I was expecting better grades and widths. They are not as good as the previous Glencore drill results (50m @ 5.47% Cu) nor even as good as the drill results from 6 weeks ago. Drill intercepts of 46.4 metres, 95 metres and 66.2 metres for holes 001 to 003 have become assayable intercepts of 23 metres at 0.74% Cu, 54 metres at 3.18% and 29.7 metres at 4.15%. These are well short of what was meant to be there.

But I am most disappointed with the silver grades. With Cooperlemon Consultancy saying that previous Silver assays were between 300 and 400g/t, today's assays are very disappointing. GSCU for comparison are getting 270g/t Ag to accompany 3.3% Cu.

Nonetheless, I have taken the opportunity to offload the shares I have been stuck with for 2 or 3 years at 5.25p - they were sold still at a loss but overall I covered the loss and made a modest profit after buying in sharpish back in March when the drill results were first announced.

With all the current bad attitude towards Colin Bird I shall monitor this as the drilling progresses but I don't think this is quite the game changer I and others were expecting.

ATB

Https://audioboom.com/posts/8711653-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr-xtr?utm_campaign=detailpage&utm_content=retweet&utm_medium=social&utm_source=twitter

With all due respect to Microcap1, considering he has only managed 11 posts in 4 and a half years on this website he is hardly the expert (despite the 9 recommends to his post). In his only previous post on XTR in May 2024, he posted a link to an FT article claiming that copper was going to "rocket to $40,000 a tonne" - which obviously hasn't happened - nor has he posted on any of Mr Bird's other companies despite liking to appear the expert.

Well I'm quite happy to sit around and wait for the initial assy results from Silverking, however long they take. I've done enough research here to know what to expect and it certainly won't be disappointing.

I just don't get it.

The last time Mr Bird did any drilling he just couldn't stop bringing out RNS updates. There were 7 - yes, seven - for just the first hole at Bushranger. And that was always going to be a low-grade prospect and not particularly exciting.

And yet now we have a very exciting high-grade prospect in copper-rich Zambia, we can't get a bloody word out of him. How odd.

Https://x.com/georginaenergy/status/1914608627131863306?s=46

I love it that the share price has been effectively kept up all week by a 10-second tweet. Just think what a full, informative RNS might do to the share price.

Cooperlemon set a target of 18 to 24 months to get Silverking drilled and proven up and into production, and that was from May 2024 and they even already have a mining licence. But it has taken Birdie nearly a year to even get started on the drilling and now he has dropped off almost straight away. Alternatively, the JV partners could sell the project, as Cooperlemon were the driving force behind the sale of the Kitumba resource, which is adjacent to Silverking.

Silverking looks a really good prospect and without anywhere near the amount of drilling that was needed at Bushranger. Apparently, it is not only full of high-grade copper but silver was originally mined at around 400g/ton when this was first mined in the 1890's - which is probably because silver was more in demand at the time than copper from far-off Africa.

He can stay as Executive Chairman but he needs to get someone with a bit of go in as CEO to handle the day-to-day running of what is looking to be quite an exciting bunch of prospects, particularly Silverking.

No offence meant, but the old boy needs to wake up a bit. He's the one who is holding everything up at the moment. Admittedly, the assays can take a while to get done, but there is no excuse for him not getting a drilling update or two out over the last month.

Just because they say they are going to drill this doesn't mean that they won't need to raise more funds. I cannot see anything in today's RNS to say they are fully funded for the drilling so it is most likely that they will need to raise more funding.

The other mention under the 'Highlights' section states:

"The bornite and chalcocite intercepts (see core photographs below) together with native copper are encouraging ahead of scheduled copper assays."

I take that to mean that the intercepts are encouraging and the exact grades and widths will be revealed when the assays are completed.

The RNS dated 13th March 2025 clearly states twice that they are heading for assays. Mr Bird himself says: "The high copper content of bornite and chalcocite minerals implies that copper grades following assay analysis could be potentially impressive."

I would expect a podcast or two to accompany this news.

I'm surprised that the assays for the first 3 drill holes haven't been released by now.

There are several reasons for my thinking:

Firstly, it has been the rainy season over much of the area (though obviously not Silverking) so the drilling would have been minimal, which means a quicker turnaround for assays.

Secondly, a lot of operations in the DRC have been shut down for the last month or two due to the insurgency of the M23 rebels (which now seems to be largely over with their withdrawal), so again less drilling means fewer assays to do and a quicker turnaround.

And thirdly, another company drilling in this part of Africa (actually in the DRC) though I assume from both Zambia and the DRC they will all send their core to South Africa for assaying, have today announced a turnaround of about two weeks for assays from ALS Global in Johannesburg, South Africa.

As we are now 6 weeks from the completion of the first 3 drill holes, I would say that these assays are very imminent if not overdue.

Excellent news, particularly that they are finally getting around to finding the high-grade tin - "The objective of this fully funded, additional drilling programme is to identify high-grade tin at deeper levels, in line with the Company's geological model of tin grades increasing at depth."

I will repeat my post from 31st January 2025, which gives some of the historical high-grade tin intercepts from the Alphamin drilling. Note that all of the high-grade tin was found between 300 metres and 500 metres .

"These are some of the historical grades from Alphamin:

MAY 11, 2016

Significant new results included in the Resource Estimate from infill and deep drilling at Mpama North included:

16.01m @ 22.5% Sn from 387.45m including 6.95m @ 38.45% Sn from 390.25m

12.5m @ 10.93% Sn from 336.7m including 2.25m @ 49.87% Sn from 346.95m

13.8m @ 7.53% Sn from 317.65m including 4.5m @ 19.74% Sn from 324.2m

15.85m @ 6.09% Sn from 399.5m including 3.75m @ 18.11%Sn from 409.25m

26 April 2022

Mpama South high-grade assay results received, including:

BGH110: 17.5 metres @ 5.57% Sn from 459.2 metres, including 8.6 metres @ 10.35% Sn from 468.1 metres, the best intercept to date;

BGH111: 15.3 metres @ 4.37% Sn from 334.4 metres,

BGH107: 7.2 metres @ 6.0 % Sn from 496.9 metres, including 4.0 metres @ 10.31% Sn from 498.2 metres

BGH104: 16.2 metres @ 3.01% Sn, including 5.75 metres @ 6.94 % Sn, both from 459.4 metres

Mpama North high-grade assay results received, including:

MND019: 14.4 metres @ 21.75% Sn from 432.2 metres, including 6.8 metres @ 40.57% Sn from 436.4 metres

MND020: 14.4 metres @ 5.92% Sn, including 11.0 metres @ 7.51% Sn, both from 484.9 metres."