Member Info for CaveatEmptor

Agreed,

When an RNS is that complex it would be good to have a summing-up in an interview so that we can fully understand all the nuances.

ATB.

Can be a bit of a mixed blessing as, although they ensure adequate funding of the company they also tend to make the SP stagnate for a prolonged period of time. This is not good news if you have bought into the share with the hope of a quick return on your investment so it often results in boredom/impatience leading to sells, often at a loss. For those not willing to sell, for whatever reason, it can understandably lead to irritable/negative posts on BBs like thos one.

However the same stagnation of SP does represent an investment opportunity for those that have confidence in the company and can see the potential to multi-bag, based on research and anticipated news flow, once the placing shares/warrants have dried up. For those of us that are long, this can be a good thing.
If, like me, you rely on cash surpluses and regular income to make periodic investments, then the SP being held for an extended period can be a bit of a godsend.

So there you have it - pros and cons, just like most things in life and one of the reasons these chat BBs can be so interesting.

Whichever camp you happen to be in, I wish you luck and peace of mind.

ATB.

Even though daily updates would probably be over the top for this third drill, I would at least have expected milestone updates:
-Commencement of drill
-Reaching the porphyry
-Reaching the core
-Termination of drill

Is that too much to hope for?

We will probably have to wait for a proper news RNS to create enough volume to flush-through the outstanding warrants ... shouldn't be too long before that happens and then those that have loaded up at these levels will be handsomely rewarded, IMHO - That is, after all , why I am here...

I agree HD,

Share with one of the best potentials around at the moment IMO'
I can see my 150k top-up at 1.92p, but my earlier one of 800k at 1.9p is not showing yet - it will probably show up as a sell in the next few days, but let the MMs play their tricks - the price will out on this one as there is everything to play for...

ATB

I notice the POC has broken the $8,300 barrier again today - wonder if it will hold this time?

POG also doing well at the moment - $1,845 at 13.15.

So whether a copper/gold play or a gold/copper play we currently win either way.

Would be nice to have an update on drill 3 though...

Which means he would probably end up with around £250M and a 10% free carry... certainly the potential to be a company-maker, depending on the next few drill results!

Knowing Colin, he would go for about £300M and want to retain 20% of the licence on a free carry basis...

On previous drills we have managed 80-100m per day before hitting the more heavily mineralised zone, but as we need to drill through 450-550m to get there, your timing could still be good.

But would at least be nice to know when (and if?) the drill started, so as to give us some sort of time reference...

Agreed Dibs.

With all the news that is due over the next 4-6 weeks, I simply can't believe the market cap is not headed towards £70-80M in the short term, which is why I have just topped up again with another 50k shares at a tad under 5.6p

GLA.

https://markets.businessinsider.com/commodities/copper-price

Even better than that, OMG, the POC just broke $8,300 - so now up 3.66% and appears to be flying...

Agreed, Frog.

I am sure I remember Colin saying that anything over 1m tonnes would make it attractive to several mid-caps in the current market.

Just better all-round if the AA deal were to be triggered as it would free up more time to monetise the other assets...

They have had three days to move the rig and set it up for the third drill - so hopefully we will get confirmation today or tomorrow what progress is being made.
Am I right in thinking the planned depth will be around 900m, with the hope that we will have a significant over-run like with the second drill? That being the case, this hole could easily end up being 1000m - 1100m overall - so 10-15 days of drilling?

Agreed Rollinginit,

And the 40 million annual turnover for XtR does not include Manica. So we should end up with our financial metrics being better than Alkane.

With Guy Fawkes having sent some ore to the plant it sounds like they have already started to calibrate the ore processing, whilst at the same time building up an ore stockpile from two mining faces.
The commencement of stoping in March is of course significant because a stope opens up large areas of reef face so you can see the various gold veins and this allows you to chase the individual veins, allowing work to be carried on multiple digs at the same time - the end result being gold-rich ore being produced at a much faster rate than is possible from the simple tunneling of one or two ends .

Income from April onwards should therefore be multiples of the current alluvial contributions...

I have listened to the Saturday interview again and there is a lot of information about Guy Fawkes.
From what I can tell we are currently working two ends of the reef and are stockpiling ore with some ( a little) ore already being sent to the plant.
It is our intention to join the two ends up to form a stope:
Stoping is the process of extracting the desired ore or other mineral from an underground mine, leaving behind an open space known as a stope.[1] Stoping is used when the country rock is sufficiently strong not to collapse into the stope, although in most cases artificial support is also provided.
Stoping is considered "productive work", and is contrasted with "deadwork", the work required merely to access the mineral deposit, such as sinking shafts and winzes, carving adits, tunnels, and levels, and establishing ventilation and transportation.[2]
So we expect to start stoping by the end of March which will effectively shift the rate of mining up by a gear or two.

So sounds like Guy Fawkes is progressing nicely, despite the weather.

I agree MJ, many thanks for the tip, a top-up in the morning is definitely in order. I for one will follow your lead...

Hello Bob,

Sounds like you have been in the wars over at ADVFN, but good if common sense has prevailed.

I never read the board myself and am not even signed up to it - I find it difficult enough already to find the time to keep up with LSE.

Good that you have managed to keep growing your position here - it looks like those targets we discussed years ago might actually become reality!
I look forward to seeing you again soon - maybe at the 20p party, grades and Covid allowing?

ATB.

Hello Rollinginit,

Looks like somebody is starting to panic?

Done!

Ditto :-)