Member Info for CaveatEmptor

Not sure if this helps, but I was present at both meetings and can confirm both conversations with CB, however I do not see any conflict between the two.

At the investor event, my recollection is that CB was testing the water with the investors that were present and he was trying to gauge the minimum price at which the majority of shareholders would be willing to sell. This value at the meeting was agreed by common consent to be 25p - 30p, but it must be stressed that this was a minimum range.

At the AGM the discussion was more along the lines of what we could expect to ask for the licence, given the open pit capex, POC, size of porphyry and commercial jurisdiction.

It is therefore my opinion that CB has clearly given a range for possible negotiations with a top end figure of 6-8% of contained copper as an opening gambit for negotiations and a clear red line has been drawn between 25p and 30p per share.

Of course this was long before Ascot was discovered, so the red line will now be at a higher level, as will be the value of our opening gambit.

The next 4-6 months should certainly be a roller coaster of a ride - but with very few significant dips, o.

GLA.

Joint best performer of top 12 tips for 2022.

From about 57min:

https://twitter.com/hashtag/xtr?src=hash&f=live

By the time BR is sold all outstanding warrants and share options will have been exercised so a market cap of £400M would be worth about 40p per share. Still a great uplift from the current level and a pretty conservative valuation IMHO.
I would guess that about half the monies received from the sale of BR would be used to progress other projects in the company's portfolio and the balance would be paid out as a special dividend.

If CB plays his cards right there the SP should quickly recover following the payment of the special dividend and at least one other project should be ready to sell - so a case of rinse and repeat?

Seems like the MMs can put any old UT they please through at the end of the day to manipulate the closing price as they see fit
Makes a bit of a mockery of the closing price supposedly reflecting the day's trading, but what can you do? Maybe they will put a UT through on Monday evening for 9p, just because they can?

How many other AIM companies are looking, with some certainty, at 5 to 10 bagging over the next 6 to 8 months?

Of course nothing is written in stone, but the emerging multiple porphyry system certainly makes for a very sharp chisel...

And you might even get it. It is certainly shaping up to be a very good day in deed...

With inflation predicted to be pushing 8% by the early summer, I guess most peeps will be looking for somewhere to make enough profit to prevent the erosion of their capital - Any suggestions for a company that is likely to be an inflation-buster?

That should read gap-up, although autocorrect seems to disagree...

Ridiculous that the market is so easy to manipulate, but hopefully the high closing price will help to attract new investors - didn't somebody post that once 6p was broken then there was a get-up to 9p and beyond? I think.it may have been taken from a Zak Mir podcast?

Are we to take it that the inflated closing price is down to a UT in the closing auction?

Hello BTTS,

Empress' s royalty agreement has nothing to do with us and it makes no difference to our share of the booty. Hooray for contactual independence!

Good question, Ella.
Funnily enough, I would not be surprised if we start to commission FB in April or May, but meaningful income will now not arrive until H2 2022, IMHO.
If I were an investor in Empress, I would be asking some very serious questions right about now...

Sounds to me that Empress needed to invest another $1M to avoid getting egg all over their balance sheet.
Good from our point of view as it keeps the show on the road, but very iffy from an Empress point of view?..

Hello Ella,

Looks to me like Empress has been taken for a bit of a ride , to be honest. They are now expecting meaningful income from Manica in H2 2022 ! This podcast reeks of desperation as it is obviously a glorified advertisement that they think is needed to shore up their already tiny Market cap.

Let's hope that CB has a better handle on our investments than Empress has on theirs...

Hello Monty,

Taking due diligence into account, I would think that May/June would be a more realistic target.
No big problem in the scheme of things, but probably better in the short term to limit expectations from the point of view of most shareholders.

So 6p has been paid - another attempting the air, to break the barrier?

We have certainly been given the impression that a bid in the region of 25p would be seriously considered, but that was before anything was known about Ascot or other possible porphyry in the area.
If the current drilling programme shows Ascot to be a similar size to BR then does that mean we will be looking for a bid in the range of 40p - 50p?

In the scheme of things, nothing there to be surprised about ...

AIM shares rarely follow logic - shares with good fundamentals often languish in the doldrums for months ( even years) on end and then, as if for no apparent reason, the SP re-rates and multi-baggers are born.

I get the feeling that we will not have to wait much longer for a new arrival called XTR...

If it is his own money he is investing, he must have very deep pockets as this latest 0.5% tranche will have set him back well over £200K...