Member Info for CaveatEmptor

Hello Andrew, I hope you are well.

I have made a note of your questions and will be happy to pose any that remain unanswered by the time of the show.

ATB.

The last I heard the addition of a tail end was going to cost about $10,000,000.

Maybe Omnia would foot the lot in return for having a go at Fair Bride as well as the rest of the hard rock?

It would mean putting all our hard rock eggs into one basket, but it might just be worth it?

I have listened to the VOX podcast several times now and still can't be 100% sure of what CB is trying to say. I would hope all becomes clear before the Investor Show, otherwise CB may well be in for a bit of a roasting.

At last year's show, following a meeting with Captain Bob and myself, CB said that he had been 'beaten up' by some investors - let's hope there does not have to be a repeat performance this year...

Hello Ngup,

I am with you on this one - CB has often mentioned 'low hanging fruits' and I believe that the existing plant is sufficient to harvest them so production should be imminent.

The tricky thing will be to to get Omnia to fork out for the tail end in order to get at the less lucrative ore and I believe this was the sticking point that scuppered negotiations with a major Chinese contractor last year.

It will be because of this tail end requirement and the cost of it that full-blown exploitation of the hard rock will not start before Q4/2020 - but there is plenty to be getting on with in the meantime as the hard rock easy pickings are considerable...

On the face of it a good opportunity to buy a 50% stake in a partially proven resource for a maximum initial outlay of $200,000 then a 50% share of ongoing costs.

I particularly like the fact that we can walk away at any time without incurring any further costs -so if the initial tests prove to be poor then our exposure is limited.

So on the whole, a lot more upside than downside and potentially a good addition to the XTR portfolio?

All we need now is confirmation that all the costs will be met out of Manica cash flow and I might then start believing that a corner has been turned...

Hello Bob.

Are you sure?

If that were the case then CB would already own more than the 1.99% of shares declared not to be in public hands and there would be no more available for anybody else in the company?

I do not think this can be correct. So any shares owned by any individual must be counted as 'being in public hands', even if they are owned by an employee of the company?

ATB

Hello Bob, hope you are well.

I thought it might be down to the LSE effect...

The XTR website also says there are 1.99% of the company shares that are not in public hands - this equates to over 7 million shares - are these 'available' for Directors, or others, to purchase directly from the company?

I have just noticed that the director's Deals on LSE states that CB purchased over 4.5 million shares on February 19th this year, at a price of 2.85p, taking his holding up to over 11.5 million shares in total.

He obviously did not buy them on the open market for that price, so was it his way of injecting another £130,000 into the company?

Or has LSE just got it wrong again?

Perhaps CB has decided to sell the stockpiled gold now that the price is over $1,340? - or maybe he is waiting for $1350? Either way that would be a considerable cash injection to the XTR coffers and may be the nudge needed to start the SP recovery...

Of course no real increase can be expected until we get (good) hard rock news, but the knowledge that there is plenty of cash in the kitty would go a long way towards settling nerves.

ATB.

Those of us that followed JP from SOU back in May 2017 have seen the SP reduced by over 75%, how much further will it go? - Unfortunately I fear it could drop back to a market cap of a similar level to the original fundraising that started the whole Echo ball rolling - £10,000,000 if I remember correctly?

That was how much the company was worth based on potential then and as potential is all that is now left in the company it would seem to be a likely level for support - so, based on a £10M market cap about 2p could be the bottom for the SP?

Not worth selling now though, so might as well hold and see what happens in the coming months... GLA

A taster of what your research may unearth...

"Mufumbwe" is a prospect deposit site in Zambia Territory, Zambia. It is a deposit, considered to be of world-class significance.

https://thediggings.com/mines/usgs10400381

The licence is actually situated in Mufumbwe and covers almost 400 hectares, so hardly a small plot...

I guess that Kasempa is the closest major town so they decided to give that as a location as it can be easily identified.

If you research Mufumbwe you will see that the area is highly prospective for both Gold and Copper - also sparsely populated so less likely to be problems associated with re-location of indigenous tribes.

DYOR and happy hunting...

Only $100,00 required for preliminary exploration in first 6 months - that can easily come out of cash reserves and the other $400,000 will be spread over the following months for detailed exploration - if the preliminary results are not up to scratch then the $400,000 will not be needed as the detailed exploration is unlikely to happen.

CB has built in plenty of safeguards for the project, but unfortunately there is nothing he can do about the scaremongers... Such is AIM!

Good start to the week - maybe CB getting a little more skin in the game - LOL!

Sorry, I was working from memory (never a good thing to do!)

The actual value of CB skin in the game is over £450,000:

February 2018 fundraising at 0.45p:

The Fundraising has been undertaken to provide general working capital for Bezant and secures the support of Tiger Resource Finance plc, alongside its individual directors, including Mr Colin Bird, as strategic investors in the Company. Mr Colin Bird has participated in the Fundraising in both a private personal capacity and in conjunction with certain of his associates, including Tiger Resource Finance plc (together, the "Investor Group"). The Investor Group has subscribed for, in aggregate, 88,888,889 new Ordinary Shares pursuant to the Fundraising representing £400,000 of the gross proceeds.

And again in May 2018 at 0.36p :

The Fundraising comprises a placing of 208,333,333 new Ordinary Shares (the "Placing Shares"), via the Company's broker, Novum Securities Limited, and a subscription by Colin Bird, Bezant's Executive Chairman, who has invested £50,000 to subscribe for 13,888,889 new Ordinary Shares (the "Subscription Shares"), representing 6.25 per cent. of the total Fundraising amount.  Accordingly, following completion of the Fundraising, Mr. Bird will be interested in 25,000,000 Ordinary Shares, representing approximately 2.5 per cent. of the Company's enlarged share capital.

So who can say that CB does not have a very good reason to ensure that Bezant is successful - he needs the SP to get to 0.4p just to break even - and he will not have made the investment without wanting a considerable profit .

As said in the meeting - patience is required here - but not too much, I suspect...

0.3p, that is, - forgot the decimal point!

CB has already got over $300,000 invested here - $250,000 through his investment company at over 0.4p per share a while back and another $50,000 out of his own pocket more recently at almost 3p per share.

That is a lot of skin to have in the game and he will not want to see it go up in smoke...

It doesn't take many trades for BZT to tick up lately - Looks like the SP is pretty stable at the moment, but should obviously be much higher...

Very quiet here today - must be a very long meeting, or a very boring one...

Everything above 0.84p has been a buy today - so a lot more buys than sells..looking quite stable at this level, awaiting the next round of news?

I am looking forward to getting some feedback from the meeting -I hope it was constructive from the company's side as I am sure it will have been from ours...