Member Info for ButlerMan

Only 3 trades today, and all sells. I guess we are all fully loaded and not tempted to buy more until we see some monetisation from one of GLR’s prospects. I know I’m not for increasing my holding until I see some tangible delivery. I’ve had enough of ‘promises for tomorrow’ from Colin, and have taken a bad beating in BZT and XTR. Hoping that GLR turns the tide.

Or BTTS, like me, who bought over 3m shares on the back of the BR hype, and didn’t sell on the way down, convinced that Colin would deliver BR after his aggressive comments ‘ I’d tell them where to stick 10p etc’. So I’m sitting on a 70% loss. So, OSV - I’m still invested, and I find your disparaging tone towards LTHs quite insulting. Many of us have been burnt - and badly - after being taken in by Colin’s comments on the Roast podcasts. It’s not unnatural therefore that we don’t have the same sycophantic view of Colin as some others on this BB. I remain invested in the hope (rather than expectation) that the FB revenue will drive the SP up a bit, before I bail out. If by doing so, I miss out on a golden opportunity, so be it, but I’ve had enough - not just of XTR - but also of the constant disrespect shown by some on this BB to those of us who ploughed substantial sums of money into XTR.

Yes Analytical. And the fast track results for Li from holes 2-6 at kamativi may be due around the same time? Hole 1 assay results only took about 2 weeks from the RNS announcing the initial drill results. So hopefully a similar timescale for holes 2-6 from the in-country labs? Could be a news rich Sept?

Https://audioboom.com/posts/8354985-midweek-takeaway-with-leon-coetzer-ceo-of-jubilee-metals-aim-jlp-jlp

Interview with JLP mention s GLR and their suitability

S. I think a full buyout is unlikely at this stage. GLR have so many projects that they are proving up, each with a value that could range from single millions $ to tens, or even hundreds of millions. So it would be impossible to agree a realistic value for the company. I suspect that as the value for each of their projects firms up to a narrower, quantifiable, range, they will be sold off separately.

Analytical - it could be a race for the next RNS between these Li assay results and Launsobe starting production! Either way, I think we are in for an exciting few weeks/ months, and this Christmas could be a good one!

The first hole had 9m of pegmatite which was assayed to find Li. So the statement….

‘· To date in the first six holes have intersected approximately 111 metres downhole width of pegmatites with an appropriately low K/Rb ratio with the potential to host lithium mineralisation.’ is quite exciting. The other five holes intersected an average of 20m pegmatite per hole. Twice that of hole 1. With the same characteristics of low k/Rb. Clearly we await the assay results to confirm Li, but if these come back positive then we have a wonderful asset. Any guesses when we will get the assay results?

I fear that this rally may have run out of steam. Last night’s RNS was solid, giving us a plan to prove up the lithium discovery, but I think the market will want the assays back from all 6 drills before it has confidence that this really is a saleable asset - assuming the assays are good, of course.

Colin made what sounded like a throwaway comment at the end of his last GLR Roast interview, which was ‘I’m looking forward to a great October’. It wasn’t made in response to any question, it was part of the ‘goodbye and thank you’. I might be reading too much into this comment, but the JLP RNS has me wondering.

Roast interview with Colin posted.

https://audioboom.com/posts/8347839

Interesting comment from Colin at the end about looking forward to a great October.

Ma, if the results are stratospheric, as you maintain, why do you think that there is a possibility of the share price going down?

So what exactly is the revenue that XTr gets? They receive 23% of the net profit for Fairbride production. This RNS gives us the money received for selling the circa 66Kg per month, but it doesn’t detail the cost of production, so it’s impossible from this RNS to work out the net profit, and hence XTR’s 23% share. Or have I got this wrong, Ma?

Thanks OSV for responding. I am really am interested in your view as to how and when BR will be monetised, rather than your views that anyone questioning Colin is just a basher…. So, are you saying that the 1.3mt will prove profitable enough, at current CuEq %’s and current POC for a DTM to be declared and the AA option to be taken off the table? If not, then where is your optimism founded?

Ma. Please help me. How is Colin securing real value in Bushranger, currently? He has fallen short of his much lauded prediction of 2MT. He hasn’t lodged any applications for further drilling to extend BR to where he claims it is open. So are you saying that the work to prove up that concentration will be effective will so greatly improve the economics that Colin will declare a Decision to Mine, and trigger AA’s option to buy, without reaching 2MT? As an investor who was taken in by Colin’s conviction that this was going to be Tier 1, and that if AA offered 10p a share he’d tell them where to go, and am now sitting on a 70% loss, I’m interested in exactly what convinces you that Colin’s strategy will come good in BR. I could ask the same question of OldSchoolView, as he/she seems equally optimistic.

Why no notice of AGM when it should be scheduled, at latest, to occur 6 myths after financial year end. So by end June latest?

Why no update on the lauded ‘concentration study’ at BR?

Why no update to the financial model around BR?

Why no recent gold numbers?

Why no new drilling applications registered with the Australian authorities, if the plan is to further define/ refine BR?

I bought a lot of shares based on Colin’s promises. And am 70% down. When the AGM is finally announced. I plan to be there to ask him lots of questions, and I’m hoping for, but not confident of, getting some answers.

BenH. I will be looking out for the RNS announcing the AGM date. (Last year the AGM was late Aug) If nothing has changed regarding BR by then, I will make every effort to attend the AGM to quiz Colin. I am sitting on a very substantial paper loss, as I must admit I believed Colin with his ‘10p SP offer, I’d tell them where to stick it’, ‘this is a tier 1 find’, the ‘LoM will mean it’s being mined well past when we’ve gone’ etc. I do feel let down, albeit that the decision to invest so much was mine and mine alone. I’m just hoping that BR will eventually be sold, and I live in hope that I will get some of my money back. So, I’ll try to attend this year’s AGM. I’d love to see a large shareholder gathering.

The silence is deafening. No update on the concentration results, nor the economic study that these would further inform. No new drilling announced, or applications seen on the Australian authority website. Colin quiet on Xtract in interviews. Not what I’d expect if we working on further proving up the resources. So, what’s going on? A non-economic prospect that quietly slips into the background, whist Xtract concentrates on developing Manica? Or discussions/ negotiations with potential buyers or JV’s on BR going on in the background that can’t be publicised? I am hoping for the latter, but I do fear the former.

The last RNS indicated that further drilling was planned. But it’s been all quiet since then. I just wish we’d get a plan with timescales soon, so we can judge when we are looking at an eventual BR sale. Sadly, I personally don’t see this happening this year.

MO. Just for interest, as no facility built yet, but building materials and labour may be in short supply after this storm hits. Details below from BBC website…

A powerful storm that is charging towards Western Australia (WA) has intensified to a category five system.
Severe Tropical Cyclone Ilsa is expected to hit Port Hedland, in the state's north, late on Thursday night.
A red alert has been issued across the region, with thousands of people ordered to take immediate shelter.
While northern Australia is no stranger to cyclones, this storm is predicted to be the strongest to hit the region in 14 years.

I’m not excited either. I need 350% to break even, but any upward movement is welcome.