Member Info for CaveatEmptor

Hello Andrew,
I am working so can't listen until later on.
Was anything mentioned about when we can expect a Q2 update?

Hello LW, I agree with you that it is now time for CB to come up with the goods, however he did say that first (modest) income from the copper dumps in Zambia would be this quarter ( about 2 months from when he made the podcast), so I would expect that the first payment would have to be made before then? He also said that production would be ramped up in Q4 and into next year so we should hopefully start to make a meaningful profit from the dumps within 6 months or so.

Also we have several irons in the fire regarding exploration drilling, surveying and carrying out due diligence , so all of these need to be paid for.

Problem is that if CB sits on his hands and spends no money then we will all complain that he is doing nothing to restore SH value, but he is also getting it in the neck for trying to move things forward because it needs money to make progress.

Fair Bride is a good asset, but it is only likely to be worth about 6p on the SP, this is simply not enough to fulfill his promise to LTHs to restore SH value - for this he really needs to get the SP back to 20p-30p. This means he will always have people complaining unless he does something to move the company towards a MC of around £100M - and he won't do that by sitting on his hands...

From my point of view, if CB can use the cash to give us a little jam this quarter rather than having to wait until next year, and move three of our projects towards profitability then at least we will see things moving in the right direction and it will be money well spent IMHO.

Of course ,
Once the broker warrants are exercised that would mean roughly another 2% dilution - making about 21% in all, but the company would also then have another £100,000 in the bank and, who knows, the broker may decide to hold on to the warrants for a rainy day...

Good morning all,

Unless my maths is completly up the shoot, I make the recent dilution 19%?

True the 83.3M new shares are about 23.5% of the existing shares in issue, but this does not represent 23% dilution =- if that were the case then if they issued 355M new share that would represent 100% dilution so the shares would be worthless - which is evidently nonsense - doubling the number of shares would produce 50% dilution - not 100%, so the same rule applies for increasing the number in issue by 23.5% which represents 19% dilution.

As I said, unless my maths are completely wrong?

Andrew,

I agree with much of what you say, but I am not aware of CB saying that there was substantial income expected from Cu or any other production this year? On the contrary he said Cu production would start off slowly, to keep costs to a minimum, and any profit made would be used to organically ramp up production over a period of time so as to produce significant income next year. He did say that first modest income is due in Q3, but at no time, to my knowledge, did he describe it as being "substantial "
Providing we get started on Cu processing during Q3 we will be on track and CB will be proven to have kept his word.

There are many things for which CB can be held to account, but let's not compound the situation by putting false words into his mouth, against which to later judge him. There are plenty on this BB that would do that with relish, but I think respected posters, such as yourself, are above all that...

Jello Andrew,

Yes but several financial commitments have been accumulated since then - very good for XTR, but commitments, none the less...

Hello Andrew,

Let's not forget that CB got a mandate at the AGM to issue up to 350M shares. Have you considered that the fact that he has only issued 80M may mean that he has in deed got his timing right?

This dilution could have been so much worse...

At least we will no longer have to worry about where the finance is coming from to buy/progress Eureka, Matrix and Kalengwa projects, so that is finance for four ( including Manica) of the planned five cash-positive projects already taken care of, so providing our imminent cashflow will cover the ongoing expenses as CB has stated, then 20p + is still a realistic target IMO.

I will certainly continue to accumulate shares, particularly below 6p as I now see that as being 'nailed on'.

All in MHO of course, but feel free to go wherever your own research takes you...

See what I mean about erroneous movements in SP?

There seem to have been many instances over the last few days where the SP changes for no apparent reason, but then large trades are reported some time later.

The only reason I can think of for this is that the MMs, whilst wanting to make a market, also want to keep the SP reasonably stable at the moment.

Quite why it matters to them, one way or the other, is beyond me, but perhaps somebody out there has a better understanding than I.

And kiwara had about 250M shares in circulation at the time it was sold - not that much different to XTR now...food for thought?
Sorry, that's my reminiscing over for this evening.

Have a good night, all.

"London shares of Kiwara, which owns the Kalumbila copper project in Zambia, jumped 30.2 percent to 68-1/2 pence after the agreed deal was announced. The shares had nearly tripled so far this year before Monday's news as copper prices recovered." (Reuters 2010)

If you are looking for elephants, search where they have been found before" (C.B. 2019)

-Just a little background information for the Newbies...

I understand that Colin's share of the selling price, at the time, was enough to propel him into the Sunday Times Rich List....

So he is definitely not in this because he needs the money...

ATB.

"Colin Bird, a mining entrepreneur with more than 50 years of experience as an engineer and explorer, sold penny stock, Zambian copper-nickel group Kiwara plc to Canada’s First Quantum for £158 million"

Does that count as playing a "blinder"?
Do you know, yes, I think it does... Caveat Venditor, in this case, I think!

I think that XTR has finally arrived on a lot of people's radars.

It is hardly surprising really, now that CB has declared that the company strategy is to have 4 to 5 producing assets, each contributing between £300k and £500k per month - and all to be done organically , at minimal cost to current shareholders so as to maximise shareholder value.

Talking is cheap, but now that we have upped alluvial production, Have a Manica hard rock deal in place and have just clinched one heck of a deal in Kalengwa that will produce revenue this quarter, it does seem that we are on the right track.

Add to this the fact that Eureka is drill-ready and just waiting for finance to get it going and that the Matrix project is looking highly prospective and can be fast-tracked!

- This all adds up to a picture that indicates that CB could actually pull it all off and that a possible SP of 25p is now not out of the question.

Even the price we are paying for the Kalengwa concession, that was equivalent to almost 4% dilution at the time, is now equivalent to only a little over 2% dilution at the current market cap - and reducing all the time, so that deal just keeps on getting better and better.

I honestly think that, providing we LTHs can get our averages below 15p then we have a very good chance of making a useful profit here. I know that is not always an option for everybody, but it is surprising how relatively few shares at this price can significantly reduce the average ( as demonstrated by an earlier post today).

As for the new investors - well, "luck of the Devil" springs to mind...

ATB

Is it permissible to use words like "excited " on this BB?
It's just that I can't remember the last time I saw it used in the same sentence as "XTR", so I thought I had better check...

Looking at the trades the SP is already set to gap-up to 1.8p first thing in the morning, so 2p by the close of play is a very real possibility.

Just think what will happen when the various revenue streams come on line over the coming weeks and months...

That late reported 1.2M share trade at 1.79p makes the current SP look like a bargain? - Is the SP being held down for other big buys to go through?

Could get a speeding ticket at this rate - Wonder if CB would say "About bloomin' time, lad!"
1.75p paid...

SP motoring now - 1.5p broken - any resistance before 2p?