Member Info for CaveatEmptor

ART,

Phase 2 is for 20,000m of drilling with the first part of phase 2 being the 13 holes at 8,000m overall There is therefore still about 12,000m of phase 2 to be completed before the end of 2021 - if they are to complete phase 2 on schedule they don't have time to hang around... no wonder they are going straight into 20 and 21...

Best part for me:

"The result from drill hole BRDD-21-018 confirms that the Racecourse copper mineralisation extends to the northwest beyond the limit of the Inferred Mineral Resource and is open to the northwest."

That 2MT Cu Eq can't be far away now...

Docit,

Again more or less what every AIM investor says about the companies they are invested in - until one of them multi-bags and suddenly everything is forgiven!
By and large the AIM investors that get their fingers most badly burned are those that are ignorant of, or ignore, the rules of the game.

Because 90% plus of all AIM investors would say the companies they are invested in are undervalued?

Most LTHs have got used to Colin being optimistic with his timescales. As it is the backroom boys that are responsible for updating the model, Colin may well have been unaware of the current complexities involved with integrating the latest drill data. As far as I am concerned, I would rather they take their time and get it right rather than rushing it and having to back-track at some point in the future.

Should be a good evening - particularly for those with an interest in other of Colin's companies.

Colin told me that he was going to make a 'night of it' ( so, hopefully with some good grub) and that , whilst concentrating on XTR, he would also be discussing his other companies too.

So it looks like we will leave knowing a lot more about the current status of several of the 'Bird' stable companies...

Hello Prickly,

You can Email waltie@xtractresources.com

Alternatively Colin has told me that I am free to bring a few people with me so if you have no luck with the email, then I am sure we can sort something out - it will be good to see you again ( I think the last time we met up was at an AGM a couple of years ago?)

I think that's a really good starter for 10, Andy.

I would expect to get several updates between now and the 14th, so I would tend to hold off with producing a finalised list until a few days before the actual meeting - but certainly a good idea to start thinking about the questions now. I will go and find my thinking cap...

Great, James.

I look forward to meeting you.

For what it's worth, my take on the new incentive scheme is that the company is now in a prolonged closed period due to the volume of drill results and the effect they are having on the modelling of the open pit mine. I should think that the closed period will last until an announcement is made that will trigger the AA buy-back. This being the case directors and employees of the company will not be able to purchase shares on the open market - so the only way they can get their hands on more shares will be via the new incentive scheme. I have no problem with this as I expect the share price to be in double figures by the time they are claimed.

Thanks for the heads-up, Andy

Looks like I will have to dress-up for the occasion!

ATB.

That's great, Andy and Shorn - I will look forward to meeting you on the 14th. It should be a very interesting evening.

It would also be good to meet a few more of the regular posters here, if anybody else can make it?

Ice - have you thought of going to the meeting - it would be great to meet up in person and I am sure that Colin would also love to meet you, as he is one of your biggest fans.

I agree SL,

The fact that all the information in the RNS was Q2 historical production says to me that we can expect a separate, more detailed update on Q3 developments. I would expect this to include, as I have already said, hard rock production from at least one of our Manica deposits. I would hope that this update will be published in the next few days and that it will contain sufficient detail to satisfy those of us that have been asking recently, for a proper update.

I will be doing my best to get to the presentation on October 14th, as I think that we will have had several more updates by then so there will be plenty to discuss at the meeting. I have reserved a place - does anybody else think that they will be able to make it to the meeting?

You are probably right, Lucky.

But wouldn't it be nice to get some information on time, just for a change?

Was it the middle of this week that Colin said we would be getting an updated model on the new shape of the enlarged open pit mine, following the first part of phase 2 drilling?

If you listen to Colin Bird, this is vastly under- valued for the assets that it owns. Half of me says " he would say that, wouldn't he?" and the other half says " you know what, he could be right on the nail!"
The 15% holding by Sand Fire tipped the scales for me. Will be good to see what happens once the mining permit has been awarded...

Hello Andrew,
I got the impression that at least one of our new sources of revenue has already come on line and that a new revenue stream has already started. Of course i could be wrong, but I did notice that the Half Year report did not contain a 'post-period' update, nor a comment from Colin - it was purely factual and historical.

This leads me to believe that we will get a Q3 operations update RNS, and probably quarterly updates moving forwards. The only hint in the Half year report as to income did say that "the Group's assets have been and continue to generate revenues."
I would expect the Q3 update to arrive sooner, rather than later.

The figures discussed in the interview were truly mind boggling.
Interesting that 15-20 million tons per year of throughput is the minimum needed for a viable mine.
Based on the figures quoted by Colin , now looking at 1Bn tonnes at 0.4% Cu equivalent, and taking 20M tonnes of annual processing, this gives a mine that would last for 50 years and, at today's prices, produce £500,000,000 of saleable products per year.
With 40M tons of annual throughput, that would be 25 years of production, worth £1Bn per year.
At 40% cost of sales, that equates to £600,000,000 profit per year for 25 years.
This really is a monster, and I no longer think that can be considered to be a ramp...

I think the original plan was for the contractors to drill 70m -80m per day and for the on-site team to keep up with the drills by logging and splitting the cores as they went along - however these drill teams seem to be drinking Red Bull for breakfast as they are getting up to 100m per day, so I am not surprised if the on-site team can't keep up with them. Add to this the longer than expected drill lengths and I think we can see why results may be a bit delayed when compared to original expectations. When you think about it, If there have to be delays, these are actually very positive reasons to have for them!

Hello Rob,

You are absolutely correct - I meant to say Bush Ranger, not Fairbride - I was in too much of a rush when I made the p0st - thanks for pointing it out .