Member Info for CaveatEmptor

I guess the SP could stay above 6p if we get a good 7.00 assay result RNS?

The model is a work in progress and is updated with every drill and assay report - so is likely to be out of date as soon as it is published.

Having said that, I did get the impression that a snapshot of the model might be included with the next comprehensive drilling update.

I don't know if Colin was just being over-optimistic, but when I asked him about assay results he did say that he was expecting them to be coming through almost every other day.

Apparently the lab we are using has closed it's doors to all other customers for the next 3 months because we are giving them so much work to do.

How long it will take for the results to be checked in-house and then released to the market could be another matter, but at least we can be sure that they are on their way.

It certainly looks to be exceeding expectations - up to 17% Cu!

"Over 160 metres ("m") of trenching extending to a depth of over 4 m and a width of 2.5m have revealed a potential resource for copper that exceeds all expectations in terms of both tonnage and grade. The ROM ore surface layer is now known to extend to up to 3 m and comprises ROM ore that has remained at the current location since the termination of historic operations some 50 years ago. The surface zone contains visible copper oxide and sulphide minerals and is also expected to host an as yet unknown grade of gold.

This surface zone is immediately underlain by a highly enriched zone varying in width between 30 and 50 cm hosting visible copper mineralisation and running at significantly high-grade copper values, peaking at 17% Cu but more typically at 6-8% Cu. This enriched zone, the copper values for which are reported here from indicative XRF records as an interim measure, has been created by the leaching of copper from the overlying sulphide ROM ore and its redeposition lower in the trench profile at the point where the copper-bearing solution meets the underlying carbonate-bearing soil. This high-grade zone is then underlain by a further zone containing lower grade but still significantly elevated copper values."

Once tax and deductions have been made, Colin expected to net about £6M from the sale, and I guess he should know?

During the meeting Colin admitted that a candid general update covering all projects is long overdue and said that he would look at giving the market a full update.

The sale has not yet been completed but is expected to be agreed in the coming weeks and selling price is expected to be around £30M.
Still awaiting update on the Kalahari, but drilling of two target areas is a priority. Cost of drilling, including assay, is about $200 per metre. By my reckoning, with our current CIB, that means that we should be able fund a 10,000m - 15,000m drilling programme.

Yes.

Two shipments dispatched from Star Zink ( one of which is worth $200,000, not sure what the other is worth) - both in transit but held up by port congestion caused by Covid.

£3M currently in the bank and £6M net proceeds due from the sale of Glenover in the next few weeks, so the company has plenty of cash to progress its remaining assets.

I notice we got a good mention on the Sunday Roast today.
Sounds like great things are expected in the coming months.

Good to see so many positive weekend posts. Bodes very well for the SP next week.

Maybe we are getting closer to that rerate?

GLA.

If your shares are held in an account by your broker you will need to take a letter of representation with you. Without it you will not be able to vote.
However if you own the shares in your own name you will be on the register of shareholders and will need to prove your identity at the meeting in order to vote.

Hope that helps.

Until recently this has been a mostly factual BB, but I guess I should expect that to change as we get lots of new posters - the price of fame?
The most optimistic forecast that I have heard (such as on the CB video) is one billion tons at 4% which would give 4 million tonnes of contained copper - I am not sure where a figure of 6 million tonnes of Cu comes from?

In simplistic terms, if we get 3% of the total value of copper in the ground, POC is $9,000 and we have 2m tonnes in total = a buy-out price of about £400M

With the AGM being on Monday, the next assay results could well be published before close of play today or on Monday. Colin did say that the assay process has been streamlined so that they will now start to come through more quickly. Either way we can expect a comprehensive update of the current state of play and also get some candid answers to our questions at the AGM.
I am looking forward to Monday!

Back to having to pay a premium on the Ask to buy shares this morning - bodes well for a decent increase today...

I just looked it up for BZT.

CB took over in March 2018. At that time there were 655 million shares at .45p each, so a market cap of £3 million.
Today's market cap is £6 million.
The figures speak for themselves.

Not sure about other companies, but any serious investor knows that a company is judged on its market cap, not its share price and XTR had a market cap of about £7.5M when CB took it over in 2016 and it is now priced at £48M.
The figures speak for themselves.

Zak Mir Audioboom:
"We have been treated to two RNSs in two days from Xtract Resources (XTR), as the company continues is journey to the goal of 2m tonnes of contained copper. Xtract said that independent laboratory assays have been received from the third drill hole (BRDD-21-009) completed on the Phase 2 diamond drilling programme at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project. Drill hole BRDD-21-009 returned a very wide intersection of 448m @ 0.30% CuEq from a depth of 272m. The company said that the results from drill hole BRDD-21-009 indicate that the mineralisation intersected in hole BRDD-21-007 increases in width at depth, while the higher-grade intervals correlate extremely well from hole BRDD-21-007 to hole BRDD-21-009, indicating good continuity of the higher-grade copper zones."

It was good to see the recording - I hadn't realised that there was so much that I missed on the evening ( or maybe forgot about?). A good performance by Colin - very candid and probably one or two things managed to slip out that he hadn't intended to share with the meeting - but that is bound to happen in a live situation.

I would say this is a 'must see' for anybody that is thinking about investing in XTR.