Member Info for captainbob

I believe XTR have/had their own drill rig down in Manica, there used to be a picture of it somewhere on the website, or at a presentation,Colin has often mentioned further exploration at Manica, actually it was mentioned to use excess cash from the raises last year, can be something going on we do not know about...

I liked yhe bit where 600-900k per month after expedature from Fairbride wasmentioned.

I agree, lots of news still to come, and Moly again mentioned, you cannot hope to hit the best bits with just 6 holes.
Certainly indicated 2nd phase will be extended and include a couple of holes into foot rot.
Liking yhe foot rot

Could be construed as imminently

AA have a take it or leave it choice once Xtract declare the tonnage/intent, and must respond / make thier 1 time offer within a very short time frame, there after if values differ too much it goes to independent fair proce valuation, a process that takes up tp 10 business days.

This is why I believe that XTR are at this time putting together the necessary proof required to trigger the talks with AA, at whatever tonnage it will be. The decision to mine will be based on renewed mining scenarios NPV, with initial higher grade stage followed by the, 'churn', to well beyond many of our lifetimes, as other targets are proved and added.

Must be remembered from early 2021, Colins, other statement, that "No news is good news", followed soon after by an RNS stating the drill rig had a problem.

He has also made mention a few times of needing to pause and take stock.

News of comissioning at Fairbride would be very welcome to tide us over, I believe that should be a cut and dried case and due any time now.

Bad day all markets so far, very few blue!

Plus the stock market in general has taken a tumble, sea of red on my watchlist.

I believe the last piece of Nachinery is now in place at Manica, and it looks dry...
Empress tweet seemibgly.

My Montene grins

Welcome back News....

What if XTR decides to keep, say 2.5% of bushranger long term, after the sale, so off the cuff, 400m sale price, retaining 2.5%, so sale 390M, give out even 10p per share, so say $250M remaining in the bank, to fund our 2.5% ahare of capex for the mine, of say 3 billion, CAPEX or $75M. (Last time i heard Colin speak of a mine cost it was $750M)

So 175 million would be available for further developments projects or dividends.

Add then Manica income, of circa 1M per month, plus Eureka, etc, and we could see better deals for further resourses there, 59/50 was talked of.

It would be conceivable of a decent annual dividend building up even before Bushranger came on line.

The above is mental sums that ran through my mind while walking on deck earlier, the sun was setting and it was nice and warm, +25 deg, I was smiling.

Having said the below, if offer counter offer are close and there can be negotiated agreement then there need be no independent valuation either.

In conversation at AGM, it certainly sounded like when there is an offer from AA on table, we can counter offer, then it will go to independent valuation a process takibg 5 to 10 days, (paid for by whoever was furthest from it), after whixh we can say no or they can say no.

On a tangent, they will be starting a drilling campain at Manica also, there are lots of untouched targets to aim at there too.

Having looked at the images from Andy's post, I notice the scale is wrong on the latest drill hole picture? It should probably be 0.5 and 1km not 1km and 2 km? Even that makes the lines drawn 300m apart not 2 as stated in the RNS?

I find it highly unlikely that all data held by XTR is in hands of AA, and onus on XTR to produce a modelled resourse of 2MT (or more), or a decision to mine, either way, it matters little to be honest, as the clause would be triggered and decisions on value woukd have to be made, agreed or rejected, with or without, independent valuation...

I find it unlikeky that All possible data held by XTR is in hands of AA, PUTTING onus on XTR to produce a modelled resourse of 2MT (or more), or a decision to mine, either way, it matters little to be honest, as the clause woukd be triggered and decisions on value woukd have ti be made, agreed or rejected, with or without, independent valuation...

Not for Anglo to approach us, we give a figure, they counter and if we don't like evenvafter the independent review, ( 5 to 10 working day limit, we, or they can say know, and all obligation in respect to the buy back sgreement would be gone.

And I would feel sure, prior to this external talks formal infoemal with other suitors are likely to have been commenced, around a ball park.

Just to butt in, my understanding memory from discussion with Colin at AGM was that it is that it is for US to go to Anglo, which prompted Kjell then to ask if we could not just announce 1.9 M tons, etc etc.???