Member Info for ButlerMan

Any thoughts on likely timescales, Andrew? My own view is :

Revised BR model, with concentrator improvements- May/June.
FB revenue - commercial declaration- April/ May
Further drilling on BR to allow PFS - July-Oct.
So, unlikely, in my view for a BR sale before H1 2024. Which may just coincide with the anticipated Cu price rise, which wouldn’t be a bad thing.

Wrong board surely.

To add to my earlier post, here is some detail from the Afrimat website, under SENS….

The acquisition of the Glenover Shares is subject to the fulfilment of the suspensive conditions
(“Suspensive Conditions”) as set out in the Glenover Announcement:

- Approval in terms of section 11 of the Mineral and Petroleum Resources
Development Act No. 28 of 2002 (“MPRDA”); and

- Competition Commission approval.

Hold on guys. The cheque won’t be paid until there is approval from both the competition commission and also the Dept of Mineral Resources and Energy. The competition commission has ruled, but there appear to be considerable delays in the Dept of MR and E. I’d suggest that celebrations are a little premature ( or maybe a lot premature, as we are dependent on the Dept of MR and E )

Agree that this is good news! The question is - where are our licence applications in the backlog queue? A few months to approval is ok, but could it take a year or more to clear the backlog? Have the Cadastre given any indicaTion, that you are aware of?

Well, Andrew, if you are correct in your timescales, at least it will afford an opportunity in April to crystalise a large capital loss and bed and ISA my shares, so that any eventual gain won’t be taxed! There’s a silver lining…

Like many others, I’m sure, I’m now nearly 70% down on my investment here. I believed Colin when he said 2Mt+ at Bushranger, after the discovery of Ascot. And also his comment that if offered 10p a share, he’d tell them where to go…. Well, now, I’d be happy to just recoup my losses here and move on, with lessons learnt. There may well be a significant SP rise if the pit economic model is published and is favourable. In which case I will be grateful, but my confidence in Colin is now low, after his overly optimistic assessments, so I’ll be tempted to bail out if the SP rises to 5p again, and reinvest elsewhere.

£38.8k trade posted - as a buy at 16:35.

Dibs - I’m just wondering in what form your guarantee is going to take, as I may take you up on your offer. What are you offering?

Of the trades reported so far, only one in the £10k region, and a few at £3k. All others £1k or below. So not a fantastic volume - unless there are a lot of delayed trades. I guess the price action could because of an impending RNS, but equally, given the relatively small trade sizes, it could be driven by FOMO.

Sometimes very large trades don’t appear until after the close - as delayed trades. Not saying this will be the case, but worth checking the trades about 6pm

Andrew - looking on the bright side, if the SP stays around 2p, until Q2, I’ll be able to crystalise a large CGT loss by bed and isa’ing my XTR shares! And then my massive gains in tax year 2023/24 will be tax free. Double bonus!

Precisely. I’ve had to sell 15% of my XTR holding in the last 2 days, at a 65% loss, as I had to cash in to pay bills. It was tough to do. That will teach me to have been substantially overweight in XTR. Though, to be fair, my other investments are showing big losses over the year too. Hoping for a better 2023.

Thanks Howzap. I’m learning all the time!

Andrew, it’s anyones guess until the pit/economic model is produced. I’m hoping that RC and Ascot prove viable without any further drilling and Colin accepts an offer, with the buyer knowing that some more drilling will probably take it to over 2MT. So whilst I’d take 10p, I’m still hoping that BR is worth more than that to a major. The model can’t be that far away!

With my average now being 5p, I’d be very happy with 20p, Howezap. I’d even be happy with 10p!

Many thanks Andrew. That would do nicely. Hope your predictions are spot on!

So here’s the question…. Will either publication of Q3 gold revenue (must be due soon, surely) or the pit model/ economic model (Feb?)move the SP? Or is XTR’s credibility so low now, that we won’t see any real movement until a deal is finally announced? Either way, I’m so underwater now I may as well wait for the endgame. But it would improve my angst if we saw a rise to the 4-5p level by end Q1. Is this likely?

Another good milestone. Terms for a 30 yr. lease agreed. Just need the financing to fall into place now.

Precisely G600. Even if barely marginal, it would make sense to process this, as it would cost more to put in the two faces opposite each other in separate pits. As Andrew says, the modelling of the pit - resulting in what’s economic and what isn’t - is much more complex than simply multiplying the grades x tonnage. We will have to wait and see. I personally don’t think all is lost yet.