After again listening to the latest podcast, Colins tune was very upbeat indeed. Personally, I believe many that have not read up on the subject will not appreciate the possibilities here, and believe that the modelling, based on assay's and the Geophysics survey will allow an easier understanding of exactly what lies beneath, and will be main driver for a push up from here. As Colin said there will be a cut off where mineralisation is not considered economic in parts of the model, (there will be sweet spots, and very sweet spots too), and that due to its inclination, open pit would likely be the way to go, 15 to 20 years. Now consider a mill churning 100,000 tons of mineralised ore a day will take about 20 years to extract 2MT of contained copper, at around 0.25%, or circa $2 M worth on average each day, (at $8000 a ton), I expect that would provide a very nice profit after capex and extraction costs, (even halved for open pit). But we are not expecting it to be halved, Colin's message seems to be that we are looking at something that could be considerably larger, and that that 15 to 20 year open pit would only be the start, the way in to the porfrey system proper. The first hole showing mineralisation of over 900 m is a good clue to magnitude of Racecourse itself, though he also said that it is still open in all dimensions, as I understood it (I liked it when someone else said Racecourse as the 'single target' Porfrey being like finger of a blown up rubber glove, we aim for the other fingers via the chubby hand they escaped from.). I do see considerable upside over the coming months, personally I hold several Million shares here, collected over the past 6 years, so am very happy sitting on my hands taking in the progress on all fronts, and learning from all the newer more informed posters, so am more confident than ever.
I bought in based on Manica and the African assets, which I believe can also add considerable value in the next 6 months as their development comes to fruition. GLA and thanks for all the information that has been posted in recent months, pointing me where to look regarding porfreys and the like.
Who ever they sell to, I feel sure there will be a Royalty clause also, any amount down to 0.75% being my understanding as a minimum with the AA buyback clause? So if resource does prove to be far bigger, long term there could be some steady income.
Imagine plant 100,000 tons a day ore processing, with 0.25% copper extracted, retaining the minimum 0.75% would give @ 500k income a month, that churning for 20 years, and at higher copper prices. That is basis the 2MT contained, and a single line of processing. These sort of 'district' deposits can however work several separate ore sources at once.
It would seem reasonable for Colin to negotiate some sort of (no cost to us) Royalty deal with any potential purchaser?
Imaging a cow, lying on its back, we are drilling 1 udder, and there are udder udders yet to be found, and then the sack full of copper and gold beneath, but it does sound like our floppy udder as anudder udder beside it. Hopefully it is one big lucky cow.
The Alluvials have allowed Xtract to reduce dilution to a degree, it is only 1 fraction compared to the other projects in Manica Zambia, Covid and weather, Alluvials, against te hard rock deposits not yet producing, by end of year the comments regarding Africa from the nay sayers, may just be different. GLA
Hopefully we will get news on Manica too, if I was not mistaken Colin said that income streams from African projects should support this share price, even without bushranger and that we are very undervalued still.
RE: DRILL ORIENTATION PLAN 100% REQUIRED.02 Mar 2021 08:52
Some news on Guy Fawkes where some ore already going to the plant, thw other Manica peojects, and Eureka, where drilling depths are near surface should on their own merit give the SP a leg up, the ability to drill bushranger without further dilution will be extremely beneficial in terms of derisking the program and progress from here. Though I feel that last raise fast track some, and buy the time needed, but to see some hard figures will be better still. I bought in on firm conviction for for African assets being a spur to mid cap, so Bushranger is a very sweet cherry on the top. GLA
It would be nice to get some confirmation regarding Manica and Zambia, current situation report, current and projected income flows, as these will pave way to proving BR up without and need for any further funding..
Whenever I have met Colin he has come across as a warm and humble guy, who despite what others may say, think or believe, does want the best for the shareholders, and now you see his excitement, and it leads me to believe, he believes he may in xtr at least achieve this goal. May his dream come true. GLA
Beginning to think it will be pear shaped, a big enormous juicy Bartlet pear, an avocado pear may fit the bill better, requiring a Churchillian Cigar. (Pear shaped on this occasion is not a deramp, oh no, certainly not a deramp)