Member Info for CaveatEmptor

OK, Ignore that - we are only writing off the debt once MMIH has shown commitment by investing $1M in exploration

Which leaves the question "where is the short term funding coming from?"

I overlooked this on first reading of the deal T&Cs:

Looks like BZT is set to sell its existing unsecured loan to CDMC for $1M early in the 'initial expenditure' period - so in Q4 2019/early Q1 2020 - Could this take care of our short term cash requirements?

This is the wording:

"As at 30 June 2019, the CMDC accounts reflect an amount of PHP267,663,743 (approximately £4.18m) owed by CMDC to
Bezant which is interest free with no fixed terms of repayment (“Bezant’s Loan to CMDC”). Bezant agrees that once MMIH
has paid US$1m (approximately £811k) of the Initial Funding Commitment then Bezant will assign Bezant’s Loan to CMDC
in favour of Asean Copper for US$1."

Selling price was set at the time the deal was agreed.

About 20M shares being issued (about 4% dilution for a highly prospective asset) - we have known that for a while so it should be priced in by now.

Q3 alluvial production new is also due before the end of next week - so maybe both will be announced in the same RNS?

If I remember correctly, when the market cap was £11M everybody said at the time that the company was 'priced to fail'.

How times have changed...

Another 30% rise tomorrow would put the SP at 0.325p. If we get that by close of play, I will start to believe this is a true re-rate, I would love to think that is true, but I won't hold my breath...

Sorry, now I'm doing it - 2018!

June 1918, that is???

What profits???

-Still a long way to go before most here are in profit - but at least it is going in the right direction.

What is that prediction based on?

I advised not to confuse the actions of uninformed investors with poor management. I did not say there has been no poor management nor that informed investors do not exist.

I guess people read into posts whatever they want to see, regardless of what is actually written...

Hello Woody,

The main problem with the SP over the years, it seems to me, has been that most people that invest here do not understand the time scales involved nor the science behind the compounds so they invest, get bored after a year ( or two, or three etc.) and sell at a loss. This inevitably creates a downward pressure on the SP and leads to increased frustration for those still holding, some of whom sell at a loss, and so on...

The fact is that the compounds are being progressed as quickly as regulations, patient availability and finance will allow and there have been considerable successes over the years, so most of what the BoD say is true. Yes, the BoD is often more optimistic about upcoming events than is realistically warranted, but it is their job to keep people interested in the company so as to be able to continue to fund it - without funds all investors lose their money!

Please do not confuse uninformed investors with poor management or an unworthy product, otherwise you are just falling into the same trap as all the others.

AIMHO, of course.

ATB

Many thanks for your feed back, NTM.

I forgot to add that XTR also has almost £1.0M in the bank and is fully funded for all scheduled expenses for the foreseeable future.

I hope that is not too much of a ramp?

ATB.

We were told at the AGM that news was due in the short term that would help to restore some shareholder value, but I do not remember any specifics being mentioned, I got the impression at the time that it referred to 201 rather than 401, but I could be wrong.

Many thanks for the advice, Obelix. Well received.

Those long term holders here will that I don't post often (mostly because I don't like to see the value of my holding drop for no particular reason).

But now and again I drop in just so you know i'm still around.

I agree with you that VAL will regain it's value which is why I have't sold here, but it's a hard share to get behind on a daily basis...

ATB.

Are you sure about that , Roses.

My understanding is that a company is a going concern providing the BoD is confident that it is able to raise the cash to meet it's ongoing financial obligations?

Last I heard the company has 6-8 months of running costs in the bank - so no need to panic just yet...

SP 0.24p now?

under way, how far will it go?

Hello Pepe,

Sorry for getting you name wrong. I think I need new glasses, LOL

Good luck whatever you decide to do.

Hello Pepper Martinez,

A quick review of our current position may be of help?
This is my quick take on our current plays:
1) Matrix project, Kajeva - Early days here so not worth considering for short term monetisation, however long term potential exists.
2) Eureka project, Zambia - Currently awaiting drill test results to target initial production. Looking for joint venture partner as project is drill-ready for near term production - potential $300,000 - $500,000 per month income to XTR.
3) Kalengwa tailings project, Zambia - Sample assays have shown Cu concentrations in line with predicted levels. Initial production from hand sorting due once option payment in XTR shares has been made. Capacity in local processing plant to process the ore. Potential to ramp up production over the next 6 months to produce revenue to XTR of $400,000 - $500,000 per month.
4) Manica Hard Rock project - Orders placed to build a CIL processing plant for large scale processing to commence in next 6-10 months. Immediate potential for gravity processed production and news on this due in Q4. Projected income to XTR -$300,000 - $500,000 per month once commercial production is under way..
5) Manica River Area Alluvials project - Huafei Gold contracted to mine total river area and signs of increased production at he moment. Awaiting Q3 results ( due within next 3 weeks) and could cover corporate overhead if they live up to expectations.( with the caveat that all alluvial mining is unpredictable and there could be bad quarters as well as good)
6) Manica Terrace Alluvials project - Contractor currently carrying out test mining and if it proves to be commercial then company will move forwards operating at an overall profit. ( With the same caveat as above)- Results due in Q4
7) Manica Minor Concessions. Contractor currently carrying out exploration in highly prospective concession adjacent to the Manica main play. Results due in Q4.

So, looking at this, if even only 2-3 of these projects come to fruition with an average income of $400,000 per month each then there is every chance that you will get your money back and probably make a bit of profit too. One thing is for sure it won't be tomorrow, but maybe this time next year, Rodders...