Member Info for Benhowell459

Am I wrong in thinking we are still waiting for hole 7 assays?

Well, am I being stupid when I see the assayed intervals in the top right of the drill plan PDF?????

On the contrary, CB has moaned about not being able to be overzealous in RNSs. The lengths of mineralisation (proven by assay), the copper present, the buy back clause, the copper deficit and the EV revolution have nothing to do with CB.

In terms of why these miners are down from their highs, I could make a long list of miners that are down from last year. Ups and downs for this sector I guess.

Great start to the day. Let's.stay blue until the weekend please!

Thanks everyone for their suggestions. Some really good issues which it would be good to have Colin's opinion on. The only thing I worry about it because it's about Jubilee, Bezant etc. as well, there won't be enough time to discuss each company in detail. I can imagine some shareholders getting frustrated by too many questions about one particular company.
On that note, I worry that a small portion of rather disgruntled portion over at Bezant may make the evening a bit difficult for Colin. As it happens, I can't make the event anyway but I am hoping to make the AGM - I just need to get on and email my broker...

Shall we just have a list of words for defining? Starts with 'imminent' obviously ;)

Not a bad shout Ella, especially when it comes to probability of an RNS. 4 out of 5 opportunities for a 7am'er gone. Fingers crossed it's tomorrow morning, be it 7am or my favourite, the ol' 10.30am bombshell with 300m @0.6%...

Steve, pretty glad I nipped in at 4.49 then! Onwards and upwards!

I have taken advantage of Cantor's suppression of the Sp and taken another 50k which is my final top up! Last time I took advantage at 3.81p, it shifted up 15-20% so hopefully we get this monster RNS with updated model shortly to kick up to 5p+..

Lucky, I think that's a really good question to ask at the AGM. We announce 2MT, AA make an offer based on an independent valuation... can we outright reject it and move on or are we somehow tied to the contract?! What else lies within the Bushranger deal agreed last year!?

Nanjan, what was the purpose of your post claiming 15p plus by close?
Was it to encourage others to buy, take your shares off you and therefore get spiked?
Your post had no substance with no science and if simply encouraging others to get spiked so you can make money, is incredibly immoral.

I am here because I believe that this will make money because the science is new and useful to society. Next time an RNS is issued, no need for your unhelpful and highly inaccurate sp predictions. Thanks.

Just calling nanjan, mazik and sheephatch out for ramping bs. It will get to 15p +, but not because you say it will. Sorry you didn't make more than 10% today! If you do some proper research and stay longer than a day, you might make more money. But you wouldn't because you don't understand the RNSs and are trading the cra* out of anything that has a half decent piece of news.

Andrew, I would agree income is more likely to come online late December /January. Fortunately, we have cash in the bank to cover phase 2 and set up costs at Manica/Eureka.
Assays hopefully will push us back towards the 9p we hit previously and then income will kick us even further forward. A new base would then be set hopefully.

On the topic of GGP, I have regularly checked in on their price to see how gold miners' sps react post discovery. Call it research for future reference as it were.

Just popped in this morning and a post describes their ore body as vertical. Colin was very clear that our ore body lies on its side. He was also very clear in the message that ours starts very shallow. One drill hit mineralisation at 12m(?).
Furthermore, our giant ore body will be in demand to cover the unavoidable EV revolution. GGP has very little copper. In terms of size, I think Colin is pretty confident ours will be in that ballpark. I think news was suggesting we now compare to North Parkes rather than Boda. I think I'll take my "punt" on XTR at 37m rather than GGP at 640m...

Ditto that Andy! I want one last (!) top up <5p!

I agree, excellent chat - loved CB's assessment of Mansfield Town to Premier League! Agree with others that 2MT is a given now and his claim that he won't stop at 500MT but push on towards 1bn, IE 4MT (?) shows his ambition and their confidence that this is bigger than they thought 6 months ago and much, much bigger than AA thought initially. I really want CB to use phase 2 (12,000km left?) to stick some pins in that SE anomaly, especially if it's as big as Racecourse itself.

I'm trying to work out how to shift things around to get one last top up pre 5p. These prices will (hopefully) be a thing of the past come 2022.

I would say we are closer to proving up the "saleability" of Racecourse than Eureka. Especially with the AA buy back option and the jurisdiction in question. AA have set the parameters for what they want to see before they jump back in. God knows what we need to prove before Eureka becomes an attractive asset to the majors. I would like to keep the other 4 BR licences to see what else they contain. Unless they come as a package (don't see why they would - AA want someone to do the work for them), in which case we have no option.

Cygnus, it is a very good question and something which really triggers discussion on here and I would imagine also on the Xtract board. How does this play out now we certainly know the huge potential of BR and the probable potential of Eureka?

Let's get back to the original point because I think it's quite interesting. Tony, no one gives a to*s about your purchase of Next shares in 1991. How utterly, utterly boring! Go take your ego trip somewhere else. Wow.

Anyway, let's remember we have the AA buy back clause, which if I'm not mistaken is for EL5875 or whatever it is (can't be bothered to check). This is one of 5 licences and it includes Racecourse (open pit area + south east etc. extension) AND footrot.

Now, I truly believe CB wants to eek as much out of this licence as possible before selling it back to AA who imo will want to buy it (shortage of copper pipeline, increasing copper price AND unknown extras that the licence will reveal over time). However, good business sense may mean that we sell that particular licence for $250-300m to fund Eureka mining, further exploration at Manica and the other 4 licences at Bushranger. Imagine if they had just half the potential of Racecourse?

In my opinion, CB wants a nice payday before potentially taking a backstep (non exec director to a flourishing mining company whilst keeping a couple mill shares?)

On the topic of further expansion at Manica, I didn't realise there was so much potential there. Dots Luck and Boa Esperanza are additional targets with proven gold and potential for more exploration / mining on top of Fairbride and Guy Fawkes. All very exciting and looking forward to seeing what CB decides to do over the next 6-12 months. If the upcoming assays are decent, we will LOTS of options/suitors knocking at our door.

Thanks Colin. Great effort, great podcast, much appreciated. Keep up the good work. Sp will move eventually!!!

I've just been poring over that map which was included in yesterday's RNS. First, I don't know why we could have had that included in every RNS to give us poor PIs a bit more perspective.
Second, it is incredible to think that hole 17 starts on the edge of the current JORC and drills away from it into virgin territory. 607m of undiscovered mineralisation.

Let's take a couple of scenarios:
1) 607m at 0.1% but 150m at 0.3/4 and then another 31m at 0.3/0.4.
2) 607m at 0.15 and 150m and 31m at 0.45.
3) 607m at 0.2% and 150m and 31m at 0.45 + gold.

Scenario 3 is obviously the dream scenario but probably won't happen. (Who knows though eh Ella?!) It's most likely to be scenario 1 which in my view is the worst one HOWEVER let's remember this is still 181m of brand new undiscovered mineralisation, outside of the JORC. 17 was a very successful drill and I'm surprised there was no interview. Which brings me onto..

Either we will have assays this week followed by an interview as others have postulated OR
We may have another video presentation at the end of the first part of Phase 2. Exciting times. Enjoy the sunshine today everyone. GLA

That rise is actually laughable. Who are these idiotic investors diving in based on one word ("massive") mineralisation. No word on what massive could mean? Also, this is based on the incredibly unreliable methods of a xrf machine and visual mineralisation! Anyone interested in Bezant will know that you cannot trust the XRF figures. CB has also, I believe, been told to stop using xrf to claim amount of mineralisation.

The rise over at Arc basically proves the market is illogical and CB maybe is being punished for his early hyperboles and over enthusiasm...