We would love to hear your thoughts about our site and services, please take our survey here.
Circa $650k a month
Very interesting read, and the numbers appear to only be referring to the Fairbride resource, suggesting income to XTR could even exceed expectations, and wouldn't that be nice.
Also on a couple of occasions, Colin has mentioned our own small in house operation in Manica, never have had any details as to what exactly that may be, other than it was muddyat the time...
Interesting, first time in ages that i have been quoted on a dummy sell for 1M shares, and to boot price offered was better than expected 5.854p.
GLA
Much better, and very very encouraging.
Clear cut now, 2M target is race course alone, needing the 16000 - 22000 meters of drilling, to prove that up to Jorc, and Footrot is separate entity 6 km away, plus other targets in sight also.
That is what I gleaned from it anyway.
Good place to be.
Was that the correct link?
Fact is all we can do is wait.....
And remember the addagnew mantra after hole 1, ie, "No news is good news".
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.
I prefer the green box
Interesting, dummy sell 500,000 being offered 6.7p, no quote to sell 1M though.
Hmm as both pairs were just under 20k I would hazard they were bed and Isa's myself, done at "low" price to transfer as many as possible :)
Eureka, not much news from there recently either, drilling update? There may well be interesting little RNS's from Manica and Zambia to fill in the gaps and inspire the less patient amongst us.
Just noticed, Colin and God are an anogram of Gold Coin, its a sign, its a sign ??????????
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?
Any thoughts?
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
Some I feel need to relax, resist looking at this bb, resist even more commenting, and come back in a few weeks time.
Results will appear when they do.
Objective discussion can then commence.
Till then it is guesswork, the core 'beautiful' or not.
No news is Good news.
Something like tomorrow, that never comes either.
The longer we wait the better, then it will be good news, judging by radio silence it is not bad news.