Member Info for CaveatEmptor

POG on a bull run, POC testing $9,000 again...

Now would probably be a good time to get some assay results!

I am happy to wait for the drill 5 completion RNS - in fact next week some time would be just fine as it would give us time to digest the assay results so that we could understand the true implications of the drill programme to date before having to factor in drill 5 - which I still think could be a game-changer, almost irrespective of the grades...

True, Ella.

Sounds to me like somebody has got hold of the wrong end of the stick and confused the cash payment for a subscription in XTR with a cash payment made as a part-payment in return for the licences? One party may think there are 2 x $1.5M cash payments and 1 x $1.5M equity issue whilst the other party thinks there is only 1 x $1.5M cash payment with a $3M equity issue

There do seem to be too many discrepancies for a simple misunderstanding by either party. Maybe you are right and this is a different deal all together - alignment of the country, the product ( licences) and the price (3 million dollars) may all just be a very big coincidence? - Although I am not at all convinced.

Perhaps if CB is reading the BBs today he could clarify the situation in the next RNS/ Share Talk interview?

Hello Ella,

It is the last bit that I found interesting - the Sandfire release states that the purchase price is 3 million AU$ - whereas our RNS states 3 million US$ - perhaps a case of mixing up the currencies?

Ella,

Perhaps this helps?

"Proposed issue of securities for the acquisition of exploration properties per the terms of executed sale agreements. The
proposed number of securities to be issued has been calculated based on Sandfire's 10-day VWAP over the relevant
periods. The exact number of securities will be calculated at settlement date, expected to occur no later than 30 April
2021.
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
3,000,000.000000"

Zak reckons if we close above 1.4 then 3p is our next target...

https://www.share-talk.com/share-talk-bulletin-board-heroes-wednesday-10th-march-2021/#gs.v7hdnh

Yes , hitting mineralisation at 45m certainly seems to have taken everybody by surprise - CB said in the interview that they were expecting it to be at least 200m - so that's a 150M bonus to start with...

Also mineralisation close to surface is much easier/cheaper to mine, so helps with the buy-out value.

Bigger volume, cheaper mining - what's not to like?

All down to the grades now and I have both fingers and toes crossed that we get first assay results whilst hole 5 is still being drilled - just think what effect even half-way decent grades would have on the SP!

ATB

No - 7.88p close this time - so they are beginning to push it up?

To be fair, Zak said that everything over 2p was for BR but CB disagreed and said that the other assets justify the full SP and that BR would be worth a lot more...

And can sell for 7.656 - so definitely playing with the SP...

I know that 900m+ of drill 1 core samples will take a while to assay - but it would at least be nice to be told that it has now been completely split on site and has been dispatched in it's entirety to the lab - and maybe even core 2 as well by now?

At least that way we could be sure that we are only waiting on the lab to do its bit, rather than there being any hold up on site.

It must be almost 2 weeks now since CB said the first assay results are not all that far away - so it would be nice to hear something this week...

With around 80m of mineralisation being drilled the last weekend of February and continuous drilling since then, averaging about 70m per day as on previous drills, I make that over 640m already drilled and counting...

As this drill is supposed to prove up an extension to the porphyry, even 500m would add around 50% to the mineralisation already discovered?

If that is the case, this drill could in deed be a game changer...

Many thanks, Prickly - I have sent an email with an updated stock holding.

I look forward to seeing your report.

ATB.

Just for once, I don't think that CB was exaggerating when he said that he, and everybody else at XTR, is excited about the prospects of this phase 1 drilling programme.
If anything, I expect that they will be even more excited by the time we get the next drill update...

Looks like the POC is testing the $9,000 barrier again - can only help the SP...

Hello Ella,
Did CB say environmental 'concerns' , 'considerations' or something else? I guess the way his words are quoted and the interpretation of what he said depends on the individual's agenda?

7.5p/7.8p going into close..., then 7.3p actual close!

Somebody , somewhere, is having a good laugh?

Shorn:

" (drill-hole number 5) has been orientated to drill across the deposit about 120m down-plunge from BRDD-21-003"

- So there is no 'intersection' with hole 3 - it is 120m further downplunge?

ATB

Hello SQ,

Yes the new well has been stepped out at a distance of 250m from hole 3 with the intention of intersecting the porphyry 120m downplunge of hole 3.

I take that to mean 120m downplunge of where hole 3 intersected the porphyry and aiming towards the NNW - therefore testing a totally uncharted area of the porphyry.

The fact that around 400m of mineralisation has already been found and that it started much closer to surface than expected can only be a big positive IMO - but I am happy to be corrected...

Whilst none of us, if we are completely honest, know the exact position of hole 5, we do know that we are testing an extension to the porphyry.

If we don't get an RNS today that will mean we have already found about 400m of mineralisation and if the drill continues until Monday that will be over 500m.
The important thing being that this will be additional to any previously found mineralisation and therefore has the potential to massively expand the porphyry size.
Drill 5 is already the most important so far IMO and has the potential to be a company- maker.
So no pressure, then!

Just about enough additional cash in the company to pay for another drill hole... every little helps.