Member Info for CaveatEmptor

To be fair, Phoenix's 15.48 post was both positive and on the nail...

Hello News,

"Anyhow, I am sure Mr Bird, XTR Chairman is closer to the action with AA, being Head of Planning at AA."

No - Colin Bird is not head of planning at AA

"Whatever, folks want to sell Racecourse at, it will be M Bird who will make the final decision "

No, with an asset sale of this magnitude, shareholder agreement would need to be sought, so we shareholders will have the right to make the final decision on a selling price.
"if he could give out a figure at the London Evening XTR shareholders meeting on 14 Oc 2021 and the XTR AGM, "

No - I was at both meetings and Colin certainly did not 'give out' a figure at either of them.

- And this is not to mention the lack of detailed context surrounding the statements you reported from an 'Alpala ' thread: so it is impossible to make an accurate interpretation.
AIMOPO, of course.

Hellp News,

Do you think it is possible to get any more inaccurate statements into a single post? I would think it difficult, but I get the feeling that at some point you will prove me to be wrong.

Agreed, Piscator,

As did I.

Seems to me like the drills so far have accomplished what they were meant to do.

The drop in SP is possibly due to the large number of PIs that invest in companies that they do not understand?

It will be interesting to see what happens to the SP once the dust has settled.

With the low cost of coal and the close proximity of coal mines in Oz, it would not surprise me if they use that to generate their electricity - so may be cheaper, but not very green.

Unless I have missed something, the anticipated size of Bushranger and the rest of the licence is such that there will still be exploration going on in 15 or 20 years time. Not sure I want to wait that long!

So the real questions are - how much are the majority of shareholders expecting as a fair return on their investment and how long long are they willing to wait to get it?

My guess is that an offer of 25p per share for the whole licence, made within the next 12-18 months would be snapped up by the vast majority of shareholders.

Once sold that would still leave assets worth in the region of 10p per share ( so 35p including sale of Bushranger) and the company would, have the cash to pay a special dividend as well as to complete exploration and to undertake development of its other assets. Eureka, by itself, could then start the whole cycle over again - and what about those other Oz licences? So plenty of scope for new investors for the future following the sale...

Only my opinon, but I doubt I am far off the mark...

Not so sure about that - at the AGM there was at least one board member that did not understand the deal. LOL.

I think it is about time for CB to make another podcast spelling out the meaning of the last few RNSs - unless, of course he is waiting to include the assay results from drills 11 and 12 as he expects them to make a more compelling argument for an upbeat broadcast?

Hello IK,

At this rate , at some point you may even have more shares than me. Still have a way to go , mind.

ATB.

From Traders Cafe with Zak Mir:

"Xtract Resources (XTR), said that independent laboratory assays have been received from two further drill holes (BRDD-21-010 and BRDD-21-013) completed on the Phase 2 diamond drilling programme at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project. Drill hole BRDD-21-010 returned a very wide intersection, with higher grade intermediate zones. The company said the hole shows excellent mineral continuity down-dip of hole BRDD-21-008, confirming the pattern of copper grade enhancement at shallower depths within the central part of the conceptual open pit area. Hole BRDD-21-013 was drilled towards the southern end of the Racecourse Mineral Resource. It also encountered a wide zone of copper mineralisation."

Every bit of publicity helps to spread the word...

Hello Andy,

I like to think that the assay results were so good that our geo team asked the lab to double check some of the samples.

There must be some concrete evidence to justify that "we look forward to providing further positive news as the programme advances." comment in the RNS?

"copper is going strong and heading to $5 per tonne"

I hope you are wrong IK - $5 per lb would suit me far better - LOL!

HAGW

Sorry, L200, not Lucky.

Lucky,

There are bound to have been some short term traders that took part in the last placing that are now happy to flip the shares for a 5- 10% profit.
Those shares will not last long if we get a few days of high volume..

Sounds to me like somebody has had sight of the raw assay data for 11 and 12 and they are just awaiting in-house analysis and verification before publishing more 'positive' news...

This is the first RNS that I can remember which forecasts positive future results - they must be very sure that their model is now accurate...

You are lucky to get over 5% of the in-ground resource value when you sell a company - so no great surprise there?

According to CB the sale price is likely to be around £30M - we only own 36% of it and the £6M is the net figure he came up with after taxes and expenses. Of course he could be out by one or two million in either direction...

Could be that his optimistic enthusiasm also makes him a bit gullible ?

I can imagine all types of people (employees and sub-contractors) giving him optimistic time lines because they think it is what he wants to hear - and because it really is what he wants to believe, he then passes them onto us... may be that he is more sinned against then sinner?

That being said, in CB's position as exec. Chairman he should be able to force himself to see through the BS he is fed and tie-down more accurate predictions - although that may also be easier said than done.