Member Info for Benhowell459

There is no way this will be under 0.3p come Christmas.

ORR is currently valued at less than 10m GBP which is not far off what BCM currently pay for us to do exploring in Cameroon.

The Aim market is so warped in it's valuations it's staggering. A buyout is 100% required, akin to Chesser Resources for 57m USD, a 4.5 bagger from here (ISH, currency valuations dependent)

I have averaged down to 0.3 having been up at 0.9 since the early days it went to 1.7 etc. Looking to hopefully make a profit here and not just recoup some of my £!

Let's go ORR!

"There is nothing to get excited about with these results so far."

I respect your transparency. I also respect the fact anyone can sell out at any time. You have been honest that you did so earlier this week.

However, like Steve a year or two back, anyone that sells out and then lingers around to dominate the narrative and telling everyone else their investment is not worth XYZ is just not on.

If I sell out of a share, I no longer am interested. The fact you continue to post and therefore hope to influence the narrative indicates you still are interested. So therefore the question is, what is your interest here? What are you hoping for by posting?

Do you wish to inform everyone that XTR is worth pittance and we should all sell? Why?

I have never understood ex holders lingering, UNLESS they hope to buy back in later. I will assume this is the case, unless you can explain otherwise! There is no other reason for your posting...

Art, for someone who has been so utterly positive about the potential here to sell out at the release of news notifying us on an extension to previously known grades is a bit surprising.

However by saying "I shall monitor this as the drilling progresses", I hope you don't mean you will tell us all how these grades are not good enough in the hope the sp sinks back to 0.7p for you to buy in again.

You have already today said you were "expecting better grades and widths", are "disappointed with the silver grades", used the word "ominous" and said "I don't think this is quite the game changer I and others were expecting".

I wouldn't go as far as describing you as transparent in your motives but if you are intent on bringing the doom and gloom about current drilling progress, it would be great if you could keep it to yourself. Others here would like this share to go up, not down. Thanks

I have added some more at 0.19. Have brought my average down from 0.95 last month to 0.33 now. 1p would be amazing, but would take 0.5p in all honesty.

Follow the money they say. Eileen has invested much much more at a higher level. She wants a return.

There's gold in them hills. We know that.

BMC are paying to find it.

Gold price is at all time highs.

The indicators on this are ridiculously good.

737 is patented until 2034. How long are 1801 and 1802 patented until?

Will the same concerns start to rear their head with this two or are we way off that issue?

Probably because Shepherd bought all their available stock haha.

Was tempted to have another top up but quite happy I nabbed some more at 18 at 4pm on Friday and 17.8 on Wednesday.

I do like having a round number in my portfolio and it's very much NOT round atm...

Nothing to see here. It's not like we are awaiting news from:

- Western Foreland

- Silverking

- Kakuyu

- Chilibwe

- Bushranger

- Morocco

- Zambia Waste Dumps

- Western Foreland: On 24 August 2023 Xtract announced that it had entered into a joint venture agreement with Cooperlemon Consultancy. Under the terms of this agreement, Xtract committed to a Phase 1 exploration expenditure of no less than US$2 million within the first two years of the agreement, in respect of exploration licences 29123-HQ-LEL and 30459-HQ-LEL.

o “Phase 2 programme to commence at the end of the rainy season.”

o Rainy season ends in March.

- Silverking: The former Silverking open pit and underground mine extends to a mining depth of just 70m. Historical drilling was exceptionally high-grade, including a best intercept of 50m @ 5.47% Cu. Recent drilling needs to be assayed and news released quickly or else we will slide back down to 0.5p.

- Bushranger: Last news on this came 6 months ago to the day. (8/10/2024). It is almost 3 years since any fieldwork was done at BR and this is the last time that any drilling was undertaken by Xtract (that has been assayed and RNS’d in full) – for an exploration company, this needs to change.

6 months ago today, Colin Bird said the slightly misleading words: “We will keep shareholders informed on the technical and financial results as they progress”.

- Kakuyu: Xtract has entered into a joint venture agreement with Oval Mining Limited (“Oval”) relating to the exploitation of small-scale production licence 29805-HQ-SML (the “Licence”).

On 20/09/2023, the following was released:

“Reconnaissance work is continuing at Kakuyu to determine potential resources within the old waste dumps and to reveal mineralisation at the base of the pit, while improving access to the old open pit via a ramp push back exercise”.

One year later, the only update was:

“Work completed by Xtract has focused on defining the potential for a future open pit mining operation, as well as assessment of the wider licence area for concentrations of additional mineralisation.”

There has been no update in the past 7 months. The only logical conclusion is the project has been mothballed.

- Chilibwe: Decision to commence mining announced 07/11/2024. No news since.

- Morocco: Agreement signed in February 2025 with Wildstone who have 15 licences for copper, silver and antimony.

o “Small-scale production is envisaged to commence within 9 months of the transaction closing, provided that mining licences and any other necessary permits are timeously obtained, and suitable agreements have been concluded with artisanal miners”

o Artisanal miners. Don’t expect anything significant out of this one (Also, “To date very limited exploration has taken place” – ie. None)

- Zambia waste dumps. On 06/02/2025, it was announced we had agreed on 05/01/2025 to pay $300k to take waste dumps. Xtract agreed to conduct trial

It seems the AIM market is being spared the sell off seen elsewhere..

Probably because it's been ignored and dropped hugely ove the past 2 years anyway.

Maybe we'll become the place to invest your money for a safe return ;)

Roll up! Roll up!

Bring your city boy mates and their 20k ISAs! 1000% return to be had here!

This site on a phone is unbelievable.

I'll start again. HBD - filing date is down as October 2019 so not much to do with Tim, John, SP etc. in recent months but shows just how long it too the Europeans to grant this...

I wonder why it's down to the Finnish to grant this when it's a European patent?

Great news nonetheless

HBD - am I right in thinking this was filed in October 2019 so it's not something that Tim, John etc. have done recently -

pcs, agree wholeheartedly about marking own homework and internal compliant ceo.

hence why we can only really go on personal experience. and persona experience told us it's a **** show. no reasons given for delays or so we are led to believe. hence why i'd much prefer we street clear. one bitten, twice shy and all that..

have a good weekend all.

Hi Scheckler, good question. It would appear we were not alone in our poor experience of MHRA. The backlog was awful and decisions took almost a year. However signs are that they may have turned a corner.

https://pharmaceutical-journal.com/article/news/medicines-regulator-eliminates-100-day-medicines-approvals-backlog#:~:text=In%20January%202024%2C%20the%20regulator,Northern%20Ireland%20marketing%20authorisation%20applications.

Their own latest figures do seem to suggest they have made an improvement:

https://www.gov.uk/government/publications/mhra-performance-data/mhra-performance-data

A new CEO started their a few days ago too.

https://www.gov.uk/government/news/new-chief-executive-appointed-at-mhra

Https://www.bbc.co.uk/news/articles/c0qndqz41jxo

"So is the UK complacent when it thinks of itself as a life sciences super power?

"That's one way to put it."

You need three things to make our industry work. A strong intellectual property system, and the UK is quite good.

"You need a regulator that's timely, efficient and predictable - pretty good there as well.

"But most importantly you need a commercial market that rewards innovation - and here there's been significant backsliding"

I actually disagree. Our regulator is slow and cumbersome. SAR is better off steering clear of the UK, I'm sad to say..

Has someone got wind of something and whacked 20k in their partner's ISA? (19.99k)

That's a really interesting and positive sign. Why now. Why 20.

SAR still valued around 20m GBP.

Easily a 10 bagger here if things go well. Some could be eyeing up a 20 bagger if things go very well.

So much potential. Just need Parker to deliver.

Agree NtM. We just need Colin to turn into Ian "The Postman" Poulter, so nicknamed because he always DELIVERS.

Can't help but think that Colin's attention may well be diverted by Aintree over the next couple of days.

Will he be putting his money on I Am Maximus (he did find Kalumbila after all)

Or perhaps his money is on Appreciate it (his shareholders should his efforts)

Or there is Conflated ("It's a big'un Zac")

Three Card Brag may tickle his fancy.

Jokes aside, hopefully Colin can stay the COURSE and has picked us a WINNER. (Silverking, non runner at Aintree this week though)

Haha it does make me laugh.

3 weeks without a drilling update at Silverking.

How about TWENTY ONE weeks since this:

Colin Bird, Executive Chairman of Xtract, commented: "All of our historic data compilation and recent field work suggests there are drill-ready targets on the Licence, and we intend to start drilling within the next 7 days. A rig and drilling contractor have been assigned to the Chilibwe Project and the drilling team is in transit to site. We look forward to providing the Market with updates once drilling generates material results".

And yet, nothing.

A leopard can't change its spots. Colin can't change over promising and under delivering...

HBD.

We can quibble over the amount of the "market" we may be losing if J&J come through phase 3 trials and prove to be effective against both psoriasis and UC, bearing in mind we are at least 2-3 years behind them. My main point stands though - we are taking our time (understandably given our resources) but we do need to get a move on or else we cannot claim to treat an unmet need nor potentially be a novel therapeutic.

Of course I won't be selling up and buying J&J. I've been here 7-8 years and will see it through. That doesn't mean we don't and won't have competitors who will take parts of the market. The more they progress, the less the market share we might have. We have seen that baricitinib, as first in class, however bad it's black box warnings were, has been taking it in. There is a prize for being first and it's worth billions of dollars.

(And of course I acknowledge the benefit of validating our science - if it takes too long though we lose out on market and patent life)

Great results against Psoriasis and UC. Once again, begs the question, we've taken 15 years to get here.

We've taken so long that we're definitely not first in class, so we have to try to claim that it's no longer better to be first, but better.

However, there is a risk with this. There may no longe be an unmet need by the time we get round to phase 2 or 3 trials.

We can't spin the "better to be best in class than first in class" forever. It has been 20 years + that Tim and John have been working on 1801 in it's various guises.

Take too long and we won't be relevant any more.

(And I appreciate that some would love competition etc but if you are sharing the market, you are halving the market and therefore halving your potential income and halving our buyout. Slow progress WILL have consequences)