Member Info for CaveatEmptor

Hello Lucky,

We do not discuss anything that is not already in the public domain - if you look at my recent post you will see that i had been calling for more transparency and that is what we discussed. Colin agreed to make an announcement very much along the lines of the posts that i have made and said we would be happy with what we hear. That is good enough for me.

I have known Colin to be mistake in the past, and occasionally down right wrong in what he believed was possible, but no, I do not think he has intentionally lied to me. I tend to take people at face value until I am proven wrong, let's see what Colin has to say and if it transpires that I am wrong, then I will take it on the chin and admit it.

Many thanks H5O,
Your figures are very enlightening.

They remind me that there was a steep decline in the SP just after CB took over - If I remember rightly many thought the company would go bust because of legacy issues - but after the low in December 2018 of 0.65p the figures show that the SP has increased 77% in the last two years to the current 1.15p.

A 77% increase in price for a company that many gave up as being dead two years ago looks very much like a turn-around to me.

I remember meeting you at AGMs in these dark years of 2017/2018 and you were very philosophical and positive ( actually, a very nice guy, was my opinion I came to).

However, now that the SP is 77% up and likely to continue a strong recovery over the next 12 months you have made a 180 degree turn in your sentiment towards the company, it is none of my business why that is, it just seems a bit odd and out of character, that's all - you wouldn't be an acquaintance of TW by any chance, would you?- You do seem to have been quoting TW a lot recently...just makes me wonder? If I remember rightly TW supported the company and got the SP up to 2.25p before making a 180 degree turn at around the same time as you did. Some might say that the recent 40% drop in SP is due to the 'turners' - but I am sure it is just a coincidence.

No offense intended, LW - we are all in this share to make money - with several of my investments I have been known to hope for a short term glitch to drop the SP so I could top up at a better price, some of my best profits have resulted from just such trades. I have no problem if you want the SP to drop a bit ( NtM , for one, would fill his boots!), but from my point of view there will be plenty of trading opportunities over the next few months, it's just that I would like to take advantage of them at an SP trading level that is considerably higher than 1p.

Each to their own and luck to us all.

Amen NtM!

Hello again NtM,

Sorry I had missed your 11.36 post.

I couldn't agree more.

As far as I am concerned all AIM investments come down to a risk/reward evaluation and whilst there are still some risks in XTR, the potential rewards far outweigh them, IMO. As you say - with so many irons in the fire we would have to be very unlucky in deed not to be in a far better place over the next few months.

I'm with you in that I too will be topping-up as and when funds allow - although I do hope we will never see sub 1p again as we've already been there and done it and it wasn't very pretty.

The New Year is not far away now so maybe time to become a little more optimistic on all fronts?

Let's hope so, NtM - as his writings to date do not seem to have inspired many people - at least if recent posts on here are anything to go by...

I think that's a bit harsh LW - as far as I can see there have been only 2 equity raises in the last three years and dilution with each one has been minimal ( nothing like to 50%-60% in many other companies over the same period). Yet over the same period the company has been transformed and assets are now worth multiples of what they were in December 2017.

Anyway, I have spoken to Colin, and I think you may be in for a bit of a surprise - good news for most of us on here, but given the nature of your recent posts I am not sure if you want the news to be good or bad?

I wish you luck.

I agree, and if the fundraising money can be shown to be financing the drilling at Bushranger, the moving-on of Eureka and getting production started in Kalengwa, rather than lining the pockets of the BoD, then that would certainly add shareholder value and I am sure the market would react well.
What many need is a detailed across-the-board update with a credible plan to ensure at least $300,000 per month income before the end of Q1 and for the company to be fully funded with no further need for any fundraising in the future.
Only one person can do that - so let's hope Colin is still reading this BB and comes through with the update this month.

Hello LW,

The term retail investor is my own ( I include myself in that category, by the way) it is a way of differentiating between Private Investors (Those buying on advice from financial advisors or brokers), institutional Investors (self explanatory) or retail investors (those that buy based on own research without any professional advice).

They may not be the official definitions, but they work for me. I can't remember ever having heard Colin use the term, but that does not mean that he never has, so you could be right.
Of course all investors have the right to criticise the management of any company that they (part) own. That is the way it should be, and goodness knows I have done my share over the years.

I guess the point I was making is along the lines of 'past performance not being any guarantee for the future' and my personal belief is that the company has been completely remodelled over the last three years (although I admit, it feels a lot longer) and I think we are now finally beginning to mature as a company. I invest my money to make a profit, that is why I am here, If I thought that I were going to lose money I would take the hit (my average is around 3p) and put what is left of my investment into what I consider to be a better bet.

Hope this helps to clarify my position - I may be wrong, but on the other hand...

/ Continued:
So, say what you like about CB, and I am sure that many will, you can't take away from him the fact that he has turned a one horse race into something more akin to the St Leger - full of pedigree animals and every one worth a fortune in its own right.
Xtract has a lot to shout about moving forward, as well as a very dubious past - so where do we want to live i in the past... or in the future?

- This is hopefully just some food for thought in the spirit of a more balanced discussion.

ATB

Hello H50,

Sounds like you have taken some unhappy pills?

Yes we know that CB's forward guidance on timing has left a lot to be desired (putting it mildly!), but let's not lose site of the fact that the cost of production at Fairbride will be around $550.00 per ounce - so at today's price that means a whopping $1,200 clear profit! - even if the POG drops to $1,400 Xtract will be getting $600,000 -$800,000 clear profit each month, and that is not to be sniffed at.

Personally I do not think that we will get any Fair Bride income before next summer, but, as the contractor has already spent in the region of $6,000,000 on the project we can be certain that it will happen and that it will be a company maker for Xtract.

Yes, I know that to many retail investors 6-9months sounds like an eternity, but there are plenty of other irons in the fire that wiii, in all likelihood , produce meaningful cash income in the much shorter term.

The Primary (original) alluvial production is holding up surprisingly well ( about $60,00-$70,000 monthly contribution to Xtract) and I would not be at all surprised if they were to continue in the same vein for the foreseeable future.
Then there is the Secondary ( new) alluvial production - probably a little less monthly contribution here, but still significant and due to kick in before the end of December.
Likewise, the Guy Fawkes contractor must be making headway with the known rich deposits both above and below ground.

So three sources of income that are likely to groe over the next few months to give well in excess of $300,000 income per month to Xtract.

I know that people, justifiably, have a downer on CB at the moment, but let's not forget that he does not have any direct input to any of these projects, they are entirely in the hands of the contractors and they will not fail to be motivated by the current POG - so why would they drag their heels? - good news on the horizon Mozambique horizon, I think.

Also Xtract it not all about Manica - far from it in fact, and that is, in my opinion, the biggest contribution that CB has made to the value of the company.

Reading between the lines of previous RNSs about Kalengwa, there is very little preparation work needed before production can start on 2 million tonnes of pre-mined high grade tailings - so, once again with the price of copper getting ever higher, early production should be on the cards - Wouldn't we be happy with a Q1 2021 first income from there?

Eureka - we know there has been drilling going on and that it is looking highly prospective for developing a highly profitable asset - news due there also in Q1?

And then there is, what could well turn out to be the jewel in the crown, the Bushranger copper/gold play in Australia. This could prove to be worth more than all the other assets put together and we will find out after a short and relatively cheap ( circa £300,000?) drilling programme.

I agree that everbody's opinions are equally valid, regardless of size of holdings.
We all have our own investment strategies, and therefore agendas, so best not to take too much notice of even the most plausible posters on this , or any other, BB including myself because whilst I have a 'core' holding that is awaiting my ultimate target price I also have a much smaller 'play' holding that varies in size according to the current SP.
Whist I can often influence the current SP in the short term by trading some of my 'play' shares I do not believe that such trades will make even a tiny bit of difference to the eventual value of the SP and therefore the cash-in value of my 'core' holding.
-And before anybody asks, the target price for my 'core' holding is many, many times the current SP.

Intra-day it got to over 0.53p, but based on closing prices, the information is correct.

s$72,000,000 paid by MMIH - that is serious money...

The Mankayan deal, if it goes through, will be worth 1p on the SP by itself - more when production starts due to out 20%+++ share of profits when our investment in the new JV entity is taken into account...

Normally they wait until they have about 5kg to sell then send it to Dubai.

Not at all sure that the 4.5kg CB referred to was the first and only shipment for the quarter?

Hello Andrew,

My understanding is that Explorator sells all the gold that is produced then pays the contractor its share out of the proceeds of the sale:

In consideration for the appointment of the Mining Contractor, Explorator will initially pay the Mining Contractor a net fee of 72% of gold produced by the Mining Contractor and Explorator will therefore initially retain 28% of the sales value of all gold produced (equivalent to 22% after payment by Explorator of the applicable Mining Production Tax of 6%) and will continue with the above fee arrangement until the Entry Fee has been settled in full. Thereafter, Explorator will pay the Mining Contractor a fee of 74% of gold produced by the Mining Contractor and Explorator will therefore retain 26% of the sales value of all gold produced, equivalent to 20% after payment by Explorator of the applicable Mining Production Tax of 6% (the "Net Sales Balance"

And now they have popped back again - very odd. I think I will go and lie down...

Is it my imagination, or are posts being deleted?

I could have sworn I replied to Andrew earlier, but the thread seems to have disappeared on my computer

If so, does anybody know why?

Don't forget that revenue from gold sales needs to be shared.

If the alluvials are petering out then i would be surprised if production figures can be maintained, however as CB never tires of saying - "alluvial production is unpredictable", so who knows?