Member Info for CaveatEmptor

Hello Ice,

Just thought I would let you know that Colin called me for a chat quite recently ( spooky, because I had only just mentioned on here that I hadn't spoken to him for quite some time!) and, as it turns out, he is the number 1 member of your fan club- of all the posters on public BBs he repeatedly picked you out as being somebody that knows what you are talking about and stated that he really rates you.

I just thought that I would share that with you as you might like to point it out if anybody doubts the general content of your posts, more power to your elbow!

ATB

Incidentally,

Let's not forget what the drilling programme is trying to do - prove up at least 2M tonnes of Cu equivalent - because that would mean that we have a world class copper-gold porphyry on our hands in one of the best mining jurisdictions in the world: Let that sink in for a moment...

Even without the AA option. once we have proven up 2M-3M tonnes we would have any number of majors knocking down the door to negotiate with us .

Does it really matter if it takes another month or three to get there?

Hello Dibs,

As I said to Cyber - I would love for you to be right, but the fact is that I don't much care if the RNS takes another week or two to come through, in fact I would almost rather wait- I think the grades, as expressed by the hole 1 assay, will not have much meaning without a better idea of the porphyry size and shape and whilst indicative of what we can expect to see, it will need to be viewed in relationship to the completed model and the results from holes 2, 3 and 5 will also need to be added into the mix before we can get anything like an accurate picture of what we are looking at.
Assay results that are presented out of context may be open to a wide range of interpretation - some good and some bad, the outshot of which could well be to sow further seeds of uncertainty and that is not normally good for market sentiment.

I admit to being in two minds about this, but at the moment I tend to come down on the side of "be careful what you wish for"

ATB

Hello Cyber,

I hear what you are saying - and I agree that 'imminent' for assay results should not mean more than a few days from when it was said - however I also think there is a big difference between getting the raw assay results and being in a position to produce a sensible RNS that will be meaningful to the market.

I would love for the RNS to drop this week, but I'm not going to be surprised if it doesn't appear until a lot closer to the month-end.

Only time will tell.

Even once the assay results are received from the lab, they will have to be analysed internally an compared to site log records before being put into a format that can be published in an RNS - So I am not holding my breath at the moment. But once published they will certainly be indicative of the overall grades that are present. Hopefully we will have some concrete information before hole 6 is complete - so that gives us a couple of weeks or so...

My guess is that the 'perfect model' is still 2-3 weeks away from completion ( End of March/early April as we have previously forecast) I would not be surprised if the assay results were to be published in conjunction with the completed model - that would offer a much clearer overall picture and there would be less chance of the assay results being misunderstood or misinterpreted...

Comforting that the 2.25% royalty agreement will produce $1.2M income per year as that ties up with XTR expected income of $1.0M per month from our 23%.

Colin said that gold was already being produced and we know the contractor has been mining two ends with stoping being commenced over the next few weeks - that will enable the mining of several faces at the same time and significantly increase the gold production.

It will be a bit of a milestone for the company once first income from hard rock mining is announced as, prior to Zambia and Oz, that was the main reason most LTHs have been kept the faith for so long.
I am hoping for a ' first income' RNS this week and hopefully a more detailed account of how stoping will affect our short term finance.
Once we are confident of getting substantial ongoing income it can only lead to continued improvement in market sentiment and increased shareholder value.
This should be a good week IMO but DYOR, as there really is no substitute.

Hello Gixxer,

To be honest I haven't felt the need to make contact for some time. Communications have been very good recently so I am happy to let Colin get on with building shareholder value without spending time on me.
The only recent bone of contention raised on this BB has been the exact locations of the drill holes and, having given this some consideration, I am happy we have not been offered this information.
Preparing an asset for sale at the best possible price is very much like playing a game of poker with all your possible suitors - good that they know how many cards you have but definitely best that you play them close to your chest.
At the moment only the company knows the full implication of the drill programme on the size of the porphyry and that is the way it should be. Giving away too much information would give the upper hand to other interested parties and that is no way to manage a negotiation - Best to show your full hand only once the stakes have reached a level that makes it worth while.
I am happy to sit back at the moment and watch the XTR story unfold.

At least a month, by recent evidence...

Not sure we will get them today, but if we do and if they are really good then sometime between 3.00 and close of play( CB has been known to drop really good news at 4.15, and I think that might have been a Friday, too) would be great IMO - catches out the shorters and makes for an explosive end to the day/week.

Hello Andrew,

Looks like you could be right regarding an update on GF as CB has just said that they are already producing gold - I guess we will get an RNS when first sale is made?
I noticed that CB was 'in transit' during this afternoon's interview - I wonder where he is going - not sure international travel has opened up yet in his neck of the woods?

I was happy enough with the RNS to top up with another 100,000 shares at 7.29p - Didn't think I would get the opportunity, if i'm honest...

There are always plenty of PIs ready to sell on news - regardless of content. They are entitled to have their fun and it won't change anything for the rest of us in the long run.

"Hole BRDD-21-005 has, as anticipated, encountered visually similar mineralisation to that seen in hole BRDD-21-003. "

So they will have known exactly when to stop drilling by using hole 3 as a model - so no wasted drill time.

Saves time and money so they can get on with hole 6 - no re-positioning necessary as they are using the same pad so just a matter of re-orientating the drill and they are away.

Maybe another interview later today with more detail?

So more than 800m of mineralisation and:
"Logging and core sampling of the earlier holes is continuing and laboratory assay results for the first hole of the programme (BRDD-20-001) are expected shortly. The Company will report on the assay results when they are received and will report further on completion of the new hole or in the event of any other material development."

So assay results early next week?

If we don't get an RNS today then I get it to be between 800m and 900m of mineralisation...

Hello Andrew,

Following the Saturday interview, I am not expecting an update on hard rock before the end of March, earliest - i could be wrong, but that's the impression I got - but there should certainly be an alluvials update due, that's for sure.

I think the assay results are likely to land either first thing in the morning or late in the afternoon as it will be complicated RNS to write and it will need careful scrutiny by a competent person so will take the best part of a day to get out...

The shares issued to SFR at 2.68p work out to be USD1.5M - so looks like the GLR RNS was correct, at least as far as the subscription deal is concerned.
It would be odd for one deal to be concluded in USD and the other in AUD so there may be some crossed wires over in Oz?
Clarification from CB would certainly be most welcome.