Member Info for captainbob

Interesting also to see where Newcrest was in the charts on that presentation.

25p could well be snapped off if offered at this point, however he also talked 40 to 45p and of course if the SE anomaly does prove mineral rich, with a few compelling holes drilled then offers can be considerably higher

Ref AGM.
Colin seems to want to get the AA option triggered, one way or the other, and stated the process will start with us when we want and not with AA just jumping in, I did sense that AA do have a very good idea of what is going on. The process however requiring a declaration by us before we or they can put an offer on the table. If either disagree then it goes to the independent valuation, a process that takes no longer than a couple of weeks, before the 'fair' valuation is announced, that either party can reject, and is more generally to prevent the big boy bullying the minor into a deal that does not take account of risk taken by investors up to that point.
He also intimated that AA are not as used to working underground, and might buy with view to farming off the underground targets down, to 1200 m or more.
If they did not want it then there are several others that would look to the full development, open pit and underground, and that this type of project will quite possibly churn on to LOM 75 years or more, well beyond the lifetimes of all attendees.

Happy Birthday Colin, have a great day.

Is it just me or is there are there some newer posters, and / or a return of posters that communicate between themselves, expressing an air of knowledge about XTR, in a way that is different to what is the 'norm' here, this is something I have noticed on several occasions over the years, but it is a predictable trend, and one that is in general seeding doubt, and contrary to a building positive sentiment when there is no real reason to do so, other than a gap in news,
just an observation,
Today would be a good day for assay results or a podcast.

All i see is green boxes :)

Of course GGP is there mostly for gold, (blinkered view), so seeing our gold grades things would appear woeful. The copper however is dismissed, in a rather uninformed way, considering it's accessibility by open pit. Plus of course we may yet stumble across an intrusion with good gold grades.
There were many here, before drilling started at Bushranger, calling into question the point of going for copper, the true potential will be realised soon enough, and those missing these low SP opportunities following such posts will, in my personsl opinion, be kicking themselves, a bout of fomo amongst those groups will take hold from time to time.

Another point that came out from Eureka was fact about 85% of the ore can easily be recovered, but that a lot was cooked, as if already smelted, that being less easy to extract.

It was very clear from what Colin has said recently, and at AGM, that combining the IP data with magnetics, and knowing what has been found, the predictions of what is to be found, is proving to be accurate, and all holes have found what is expected regarding mineralisation, so it is fairly safe to say it is a geologists 2+2=4 scenario.
XRF samples can be misleading, ignoring weaker and concentrating on higher readings, however visual inspetion by geologist can use their knowledge to make a more reasonable estimate, and to date they have compared well to assay results once received.

Hi Ella, thanks yes, I confused myself there, as the holes are not numbered and the ones to SE missing from the plan.

It would appear the actual drilling of phase two in on last two holes 24 and 25? I guess thus is where we take our step back to see just what we have got, exciting times.
Wonder what will happen with drill rigs once they are finished?

Good day for an RNS 10/11:00 am

Yes he did say that yesterday, sounded like some new regulations may be coming into place requiring it, so they hammered it out as template for all.

First move in morning is a call to Aussie, to see if holes are finished, Assay results received, he too very keen to receive and let us know. Patience is key, they will finish, they will be revealed.

Aussies do things differently, commenting on fossil fuel use Scott Morrison, Aussie PM seems to like mining.

"We want our heavy industries, like mining, to stay open, remain competitive and adapt, so they remain viable for as long as global demand allows,"

When I say "Colin said", I mean my understanding of what he was saying on topic generally.

Hi Andrew, it would seem phase 2 should prove up the 2MT, inferred open pittable, and make a few pin pricks into otherwise unknown areas.
Colin said that each hole is being added into the model, with estimations from geologists and as assay results come in these will be adjusted.
One thing I did not ask was wheter stripping ratio is now decreased, I imagine it must be.
He also made a point of correcting term ore body to porfery, and learning what is down there.
He again commented on the need to step back, and take a look at exactly what we have, how much ore can we reasonably expect to have now, saying 500 MT at .3% is 1.5 MT contained copper, but at 0.5 % is 2.5 MT contained copper. Again talked the holes showing mineralisation very near surface up to 11m.

Also mentioned PO thickness was 140m whereas our drills have found it much thicker, and areas with very nice grades.

Also regarding Eureka, it sounded as if we are now in better position to dilute KPZ in Eureka, retainining 75% rather than current 50%. Basis from RNS 5th march 2019, "Should KPZ wish to fund their 50% share of the scoping study costs then they will be required to confirm this by 1 February 2020 and each party will equally fund the Project. If KPZ do not wish to further fund the Project, they will be diluted to 25% in Newco with the Company's interest increasing from 50% to 75%."
Seems they want to fund out of proceeds, their income from project but we are in position not to accept that route, that would be quite a nice outcome.

What if, it a a call of bluff for AA, they only like surface stuff, might not want as there is mineralisation down to 1100m, hole 7 was in mineralisation 0.7% cueq when stopped, the other holes if finding long runs of mineralisation will put meat on the indicated ore mass.
Soon will have all assays coming in, each as received will go into the model.
I got feeling they want to get the AA process over and done wiyh then aim otherbplayers that like deep ore projects

Passed the time on train, at least it was quiet, and possible to get a cup of coffee with snack.

Lose their jobs, the ones who brokered