Member Info for CaveatEmptor

Hello Andrew, Yes you are correct. Colin has often said that alluvial income would be comparable to that of FB, just for a much longer time. Probably not a good idea to underestimate the financial potential of the alluvials. Particularly now that the 'O' alluvials are up for grabs and Omnia are currently getting circa 1g Au per tonne out of their own alluvial deposits that are only 100s of metres away from the 'O' deposits. Omnia are currently raking it in, so no reason why we shouldn't do the same? Hello Bob, Many thanks for the confirmation. Good to see that my memory is accurate - at least for that meeting with Colin. Hope all is going well at sea. On a completely different topic, let's not forget that Omnia have a hard rock plant that has cost them $8M. They need our western HR deposits to get their money back - so who's the daddy now? ob

Hello Andrew, My understanding is that Colin expects Sino alone to produce at least 25-30Kg in total each month. We would net 7.6% of this - so, based on 27.5 kg: 27.5 x 31 x 1300 x 0.076 = $84,000 net to XTR, or approximately $1M per year. Colin told me that this figure represented the true break even figure, taking into account all production commitments, local management and corporate expenses for the company. Colin therefore expects Sino production to minimally cover all XTR costs from Q2 onwards. Any other income from any other source would therefore now be clear profit. Similarly Colin also expects to get at least 25Kg per month production out of the 'M'alluvials , starting in Q2 and the net profit to XTR will depend upon the basis upon which the 'M' alluvials are worked: With Moz as contractor and XTR as shareholder in Moz? With XTR working the alluvials directly (we have the necessary expertise already on site)- using seized plant from Moz? A JV with another contractor, with XTR supplying plant seized from Moz and the contractor supplying the labour? As I see it these are the only practical options open to us for the working of the 'M' alluvials - and every single one of them will result in the XTR share being multiples of the current 7.6% royalty. Another thing to consider is that, just because XTR currently only gets 40% of alluvial royalties, this does not mean that it has to continue like this for ever. Nexus having to take a much smaller slice of the Alluvial pie - now that would make for a very good RNS in deed...

Hello CC, I was replying to C64. Time lag between posts can be confusing... ATB

CB thinks that the Mankayan play is the best investment opportunity on AIM and it is only a matter of time until the market realises that BZT has a $100M+ asset that can actually be sold...Those that can get in at anything like the current SP should end up making a pretty penny.

If you say so...

Hello Law, Don't forget to factor in a jv for the non-FB western hard rock production and XTR going it alone on the alluvial terraces...

Or maybe 3% of retail share holders losing their bottle?

Should read: Can't be factored in.

Hello A123, With what we already know, my firm expectation is for an MC of �60M - �80M. What that means for the SP is less certain. I would guess that we are likely to end up with around 500M shares in circulation by the time we get to the end game so that would give me a target price of 12p - 16p but I am hoping for some acretive deals that can' be factored in at this stage and which could considersbly increase that target...

Putting things into perspective, the Friday RNS took a few by surprise and around 3% of the total shareholding was sold This means that 97% of the shareholding was held onto by those not willing to sell at such low prices and there were enough buyers to snap up the sold shares. So now 100% of current share holders believe the SP will increase from its current value - not a bad position for any company to be in...

Hello Ammu123, Either far too many or not nearly enough, depending on my mood at the time LOL.

Hello Mike, We knew from the presentation that Q1 would make an operating profit. We knew it was a particularly bad rainy season. We knew that Omnia was not due to start modest alluvial processing before next month at the earliest and we knew that Sino was the only contractor able to work through the torrential rains. All of this we knew and it has proved to be correct. We still have several top notch contractors interested both in our alluvials and our hard rock. We know we have the potential to produce up to 50,000oz of gold out of Manica each year and we know we are do close to signing several new contracts. All this we know. So, yes I am very upbeat, that is why I did not sell any shares even though a short term drop was likely, even if the news was a lot better than expected. I am not a trader. I am an investor. If traders get their fingers burnt on short term SP fluctuations then that is very much a part of the game they choose to play. I am here for the long game and expect to make a lot of money out of XTR. What others do is very much up to them and I wish them all the very best of luck. ATB.

Hello W7, Yes, Captainbob and myself spent over an hour with Colin and I have to admit, we did give him a bit of an earbashing. Amongst other things I told him I wanted future updates to be straightforward and honest, warts and all. I also told him I was looking for a company with a viable plan to increase shareholder value with regular updates on progress, be they good or bad. I think Colin got the point. We discussed a large number of items, some factual and many hypothetical so it would not be appropriate to discuss all of them here. I have already reported on those topics that have sufficient substance to be worthy of discussion on this hallowed public forum. Yes, I am also the investor that Colin alluded to in his presentation and he thanked me for my support, even though I had just given him a bit of an earbashing. So that speaks volumes about his integrity IMO. And no, I did not sell a single share following Friday's RNS. It contained nothing that we didn't already know - so why would I? As so many others have said, I too will continue to accumulate shares in XTR as I am confident that one day my position will pay dividends (literally?). Think I might even nip out to Manica and see what is going on for myself - might be fun...

Important to understand why we got $1060 per ounce. We sold the dor� bars locally as this saved us the hassle and expense of refining then selling the pure gold on the international market- thos epuld represent a lot of expense for what was a relatively small amount of gold. So yes, the price realised was less than the $1300 international selling price, but represented good value under the circumstances.

Of course I have no more information than the next person, but if my back were against the wall, I would guess that a JV with another major Chinese contracting company was on the cards for mining FB. Contractor to build and finance the processing plant to our design. Then share the production costs. C B has often said he is impressed with the performance of Sino so he may be leaning towards a Chinese partnership for the development of FB and I think he may be visiting China at the moment... I understand that a major US company may be interested in working with us, so may take over where Omnia left off so as to get a toe-hold in the Manica project? Still lots of options out there and plenty of newsflow due over the next few weeks... Good things come to those that wait IMHO, but please DYOR...

I have been travelling most of the day with the usual mobile phone restrictions - typical! So I lost out on a massive opportunity to top up today. Really gutted... However, there is still Monday to come and I hope to get in before the bounce is in full swing. Nothing in the RNS was a surprise. Production has increased by 50% over the last quarter - well done Sino! Moz, you really are letting the side down, not a good performance at all! I know that the rain was bad but that truck sliding down the slippery slope and taking out an exvavator was one step too far...Good job we have ownership of your $4.5M processing plant in lieu of the monies owed to us. From our perspective, not a bad deal to flip a $400,000 loan into $4.5M of assets. Goodbye MOZ and good luck with your future endeavours - diamond! Plenty of other miners queing up work the 'M' concession - particularly now that we own the plant so they do not have a massive CAPEX - so means we can get a much bigger slice of the pie! Omnia, having lost money on their own alluvial concession for the last 6 months have now hit a patch of 1g AU/tonne so are now raking it in...no wonder they have lost interest in our alluvials for the time being... However Omnia have invested $8M + in a hard rock processing plant, then found they had no HR gold. So Omnia need our HR Gold deposits in the West. To give them A return on plant investment. In short nothing has changed... potential is still sky-high.

That is correct GW. CB did say that Q1 results were due to be published this week. He also said he was visiting a big contractor towards the end of this week, regarding plans for FB. So maybe we will get an RNS this afternoon, or maybe he wants to include the FB news at the same time, so has decided to delay by a day or two? ATB

Choco was obviously burning cash at a very fast rate ( �1.5m in 2017) and that is simply unsustainable for a company with an MC of only �3M - the dilution required to get anywhere significant would be massive and, I should think, unacceptable to current shareholders. CB is good at seeing the bigger picture and then focusing on areas that can increase shareholder value. It may not happen immediately, but the sale of this weight around our neck is a good start. Both gold and copper are likely to increase in price over the next year or two so they are obviously a good thing to focus on, particularly as the political tide in the Philippines is on the turn and our project there is so advanced. Once proven up it should be worth many, many times the present market cap and that is why I decided that now is a good time to get involved here. I will be increasing my position here as and when funds become available. The next few months should be very interesting, as the market awakens to the true potential that is BZT and now that the management will be better focused on building value into the company, the MC should react favourably. ATB

Can we please remember that we are living in the real world (at least most of us are) and we know that nothing goes 100% according to plan. This is, however, not an argument not to have a plan in the first place. Anybody that is in business knows that in order to confidently make �10 profit then you have first to plan to make �20, as there are always unforseen hitches. Just so long as XTR can show that it has an actional plan to reliably grow the CIB and increase our income during the coming months then I am happy. Let's see what the next RNS says... maybe we will be surprised, but do not count on it!

Whoever just sold...You're welcome!