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yes, I'm not sure whether to make the assumption that hole 3 has started
maybe they wanted to have a think about the results of hole 2 before starting 3, or were they just going to stick with the original position and its got going a couple of days ago, would be nice to know either way please board of directors @ XTR!

I certainly hope that they would confirm Via RNS that hole 3 has started - very simple announcement but one that would clarify the timetable quite a lot .

My assumption would be just a couple of days to reset the drill as it was twixt 1 and 2

Would be good to know the bit is gouging downwards

I agree, and I think we are very likely to have an economic deposit for mining right now given those last two drills - I am sure if it was "half a boda" it would be well worth mining at expected grades, and that is already a few multiples from the previous jorc.
I feel very comfortable that this is totally de risked at the current Market cap with a very large amount of upside, exciting few weeks for all of us. Got used to an RNS a day now its more of a waiting game again.

And XTR's valuation has changed very significantly in 2 month's precisely because of 2 drills that significantly increase the EV expected valuation of the tonnage possibly to that 2mt figure and thence a £300m+ valuation.
The jorc tonnage is potentially large enough to mine which it wasn't in December

I understand the concept of buying into the upside, we are all doing that here after all. I bought plenty at around 1.25p.

My point is that you can't value a small discovery in anything like the same way as a massive discovery. ie apply the same valuation techique proporionately.
Nobody was interested in mining based on jorc 2012, so at that stage is pretty much worthless (a small fraction of £60million) and only has the POTENTIAL.

Which we now do seem to be acheiving. But really it is about hitting that 2m t figure (hopefully plenty more) - that's the critical mass/tipping point (or close to it) at which this becomes a goer - given the lower grades in porphrys as CB keeps telling us, its all about the scale.

If we are at 4mt for example I bet you could use a higher % to value than 3% due to economies

i think its huge too :) which is why I am holding
then the pay off will be v v large
understandably the market is not getting to excited until we can propely prove that

ok so the 17 shareholders of Prospect Ore took on 100 million shares at 1.25p between them equivalent to £1.25million
that's the consideration they received on that date and therefore its valuation at that date.

There's no way that equates to a valuation of the 2012 Jorc tonnage at anything like £60m , even if they have held onto XTR shares (75% are tradeable by now I think) and were convinced we could do more with the area than they had for 8 years during which anyone could have come in for it.
It was peanuts because nearly everyone had given up on it being "critical mass" discovery.

Even at todays price after the additional discoveries by XTR their shares if they kept them are worth 14% of 40m or 5.6m.
Its a laugh to say the 2012 jorc estimate has a value of £60m or a 20th of that.

This thing is only worth anything if it is huge, and then its worth a hell of a lot.

That is the risk here.

looks to me like we raised £1.25million by issue of new shares which diluted other shareholders of XTR at that time and then paid that to Propect Ore.

If you are saying that AA effectively already own 100m shares of XTR , or roughly 14% of our share capital then for sure that's a very different scenario, but I don't see that anywhere.

Very happy to be corrected because it would be fantastic if that was the situation and I for one definitely did not know that.

the previously analysed resource was worth about £1.5 million or whatever we paid for it just to be clear. Otherwise they would have asked for £60m

this has to be a very large discovery to make it economical for the majors and we now seem to be heading in that direction

if it hits the AA buyout discovery size it could be worth $480million based on $8000 copper and a 3% fair valuation

thats approx £350m valuation vs a current market cap of £40m times

thats x 8.75 price from here

without other bushranger potential

without Africa projects

GLA

This has really assisted in my understanding of the bushranger porphyry system many thanks
Just hope Colin isn’t a Smooth Criminal (Jokes no slander intended)

Companies are normally valued at the perceived value of their discounted future income streams.
That can be elucidated from their previous profit streams plus growth prospects eg Shell or an asset that the company has likely discovered that will turn into future income streams for themselves or another company buying in.
It’s the nature of exploration companies that they don’t have historic PE ratios as they are building asset portfolios for development or sale - I’m sure the OP knows that .

Should do or should stick with mania stocks such as Gamestink , blockbuster etc with their triific PE ratios

Interestingly CB posited xtr as a hybrid explorer / producer and has been pointed out many times on here if the OP cba to read , there are near term profit flows coming on line in 2021, ignoring this Godzilla of a discovery which will take 5 years to get producing as it’s so darn big.

yep we've come a long way from discussing if Colin had a proper lock up for the alluvial gold and what was in it :))

really well run company I think. I know a few of the pubs (:)) and the standards are really high and I believe they know how to maintain an excellent margin.
A lot of freeholds on the books, lots of cash facilities to ride out this storm, then opportunities to pick up some good new locations. A few more bad months to come of course, but I wouldn't be surprised to see close to £2 by the end of the year. I have about 40000 shares, may add more

if people stopped saying "its jumping , its about to jump, 7p by the end of today, level 2 data says a big rise" etc etc etc
then it might actually rise :))
unless you are playing with borrowed money or money you can't afford to lose (probably a mistake) then just chill for a couple of weeks then a couple of weeks more.

I will make a prediction, that it will be over 10p a share within 6 weeks of today. I will buy a drink for everyone who is on the board at the 20p party sometime in Q3 if I'm wrong!

There is no doubt for me looking at all the recent RNSs (and listening to the interviews and my own further research ) that we have a MAJOR discovery on our hands , simple as that .

Market cap is around £40m right now, I can’t see how this company is not worth at least 4 x that based on this discovery _ let alone the rest of the porphyry system (and other country projects)

Some knowledgeable analysts have stated a 40p valuation would be right for the 80% of RACECOURSE (not bush ranger) that AA have an option on if we hit the 2m cu eq target.

There is a strong argument therefore that even if we are at “only” 1million cu this is worth 20p a share - albeit I understand that the majors much prefer economies of scale.

My feeling is that in any case we are on course to hit the AA option target.

Copper has significantly increased in price since they agreed this deal, how much keener would they be to get their hands on it at $8000 plus per tonne.

V v exciting times :)))

rolling see my post below :) as i say it could easily be a lot more I feel!!

This was a great interview. CB was very clear, concise and logical.

And I think its just amazing news. The magnitude is confirmed as a very big systems, he's very confident on the grades.

Isn't that all we need really? 6 weeks until a finalised model and I'm sure al the assays by then.

Because the gold could be the real excitement here. OMG this is huge boys and girls.

Plus the rest of the system there! (if ones bad, they're all bad, if ones good they're all good!!!....this one is very very good)

Lovely little wind up with the eureka chat first as we all wanted bushranger :)) but great to know that project also on track

To all those who hold this, even at 8p, big big congratulations

I was having a go at someone for trying to compare with Alkanes market cap - I'm still right but I think it should be a helll of a lot more !!!

what's he wearing

tease