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eh? the 28K operational profit in the quarter is before central company overhead costs - at least $550k per annum

Xtract made a loss of £400k in H1 2018

can't see that being much better in H2 2018

couple more quarters like this and we will be running out of cash

some people are very confident that the future quarterly figures will be significantly higher, say net operating profit of $200k per quarter on alluvials rather than $20k. to cover that overhead... mmmmmaybe and maybe not

the "stock of gold" argument was made by a few at the end of the last quarter right? didn't seem to do a lot for these numbers

ok what about all that guff about how the alluvials were going to be transformational, in the millions etc ?
never going to happen. Even so these are really poor production figures and won't go anywhere towards covering company overheads

per my calcs: They show that Xtract has made a tiny operational profit on alluvials in the Qtr of $155K- $127K = $28k

Annual company overheads $550k or so. Really need a very good uplift in these number in Q1 2019 otherwise short term cash will start to be an issue.

I wonder how many would put their hand up for a $15million buyout now?

There's a massive difference and time lag between someone being interested in an asset and getting money together and then signing something.

as I have been saying this is going to be a long wait

just hope the lunch isn't so good they forget to release it

2.32pm pretty confident
always done best after a decent bottle of red at lunch

already nearly 3 million shares bought today, that's a lot for XTR historically
there must be some news out there

If the alluvials income can get us to an ongoing net profit at company level, no reason this company should be valued at less than £10m, there are some good deals to be done with the substantial assets we have - I was expecting that could take quite a while but I guess deals can happen very quickly if it suits both, fingers crossed! gla

if the alluvial production figures are decent and we have the hopeful Sino uplift going forward , then this has to be a strong buy with the assets to hand, albeit it will probably take a while (IMO!) to get the right deal. More optimistic here than I was a couple of months ago GLA

i will have a look at the revenue recognition note you mention...

but essentially , there is a gold stock figure on the balance sheet, the other side of this transaction is a Credit to the cost of sales calculation. I did make the point that depending on the valuation of that gold, the profit element of it could be available in Q2 - i.e., the sales value less stock valuation (e.g. that could be the rolled up cost of getting it out of the ground). But equally given the fact it's extremely easy to value gold that they might use the current market value as stock valuation.

Easy way to look at it:

Say gold was valued at gold price £285k and shown in stock:If XTR had stopped trading on 30.6.18, and liquidated its assets on 31.12.18: and that physical gold was have been sold at £285K as still the market price:

Dr Cash £285k
Cr Sales £285k

then

Dr Cost of sales £285k
Cr Stock £285k

H2 numbers
Profit on that sale = zero Stock now = zero (stock sold) Cash = £285k Sales = £285k

If the stock was valued at less than selling price of gold that difference is shows as profit in H2

that's how it works and its not surprising how easy it is for non accountants to misread company accounts v often, I guess that's the way the Directors like it (half of them don't understand their own numbers lol)

i will look at the cashflow question someone raised in a mo

PS the Gold stock value in accounts to 30.6.18 is £285,000, so accounted as net income in that period. So no sorry, sales of that stock won't be available for second half 2018 net income numbers as well.
That would be WorldCom accounting

calculations around current production are guesswork - I am referring to the reported financial statements to 30.6.18 showing a loss of $408k at XTR
You are expecting a big turn around from that which is fine but its pure conjecture given past performance in this area. The company freely admits the very large uncertainties in the alluvial operations, I'm sure you have read that.

I'm really not bothered if you listen to me or anyone else who disagrees with you, just hope no one invests on the basis of "millions in alluvial income" to XTR

You don't think XTR would have valued their gold stock when compiling their half year numbers?
The accounting Journal is:

Dr Stock on Balance Sheet - £ estimated value of gold stock
Cr Cost of Sales in Profit and loss account same £ value

There may be a conservative valuation of the gold held in stock at 30.6.18 that could prove some upside when sold. But there is no big pile of gold they forgot to account for - I hope not anyway!

We have to deal with the actual published financials first right? and then move on to your fag packet

If I am wrong and we have a few hundred grand profit Q2 2018 then you are right I guess, will find out in March I think

there's a lot of figures down below. The one that matters: 6 months to 30th June 2018 XTR LOST £408,000

That figure would have taken account of gold stocks, provisions, liabilities etc

It may be that in the next 6 months to 31.12.18 we broke even. Personally I would be really happy with that, lets see.
If we make a small surplus in the following 6 months then great. It means the business is at least stable. There is then potential for some good non-firesale deals.

People on here predicting millions of income from the alluvials need to review their similar previous predictions on the subject and stop kidding themselves, otherwise the name Jan Nelson just comes to mind.

ps and I think virtually every investor here with the exception of yourself who is probably 99% down (explaining your ramptastic attitude) would accept a buy out at £12m with market cap at £2.5m, just a hunch

jeez thanks
how are you going to get your hands on the $40m npv with $500k in the bank?
why would we have income in the millions from alluvials? that has proven to be NOT the case to date given the share we get and the grades of gold etc - that's dreamland
If we cover our overheads plus a bit that would be good
You are so ridiculously gung ho for this, try a bit of balance, I'm moderately positive about the future here after a TERRIBLE run over the last 18 months after even worse before
love that you know gold is going on a bull run
bull s**t more like

yes very strange, such a rise should have filtered onto UK share price today? or just a glitch? can someone recommend a good website where I could look at the ZEE details ? thanks

the Sino news is good news. One firm doing the alluvials who know what they are doing and are already making money. This should shortly mean that all XTR overheads are covered by alluvials , maybe a bit on top.
For me that alleviates the cash flow worry as the company has $500k of cash so we can afford to be patient.
It could easily take 6 months to a year to come up with one of these solutions:
1. a sale of the whole lot to a company (chinese?) with deep pockets to exploit Fairbride - say $15m would be nice
2. set up a long term JV to exploit FB with the possible 25% of 20% maybe share, sit back and take the profits
3. get that plant sold to raise some cash
4. maybe some other interesting asset Mr Bird can unearth

so nothing super exciting coming up near term but I think we have more time on our side which is a very good thing as counter parties can always smell desperation. When an FB dela does land it will change things big time.

just my view and good luck all

yes £20k invested there! very good sign...kind of surprised it didn't shift the price at all though, a few more buys on top of that will i guess

have a feeling some better news will be landing soon (about bl%%dy time to be fair)
something on the hard rock asset would be a gamechanger

It looks as though some quite big buys going through at 3.45 which looks quite good.
I guess if it's going to happen it's going to be pretty soon with this one. Can't deny there is still plenty of risk here and things have been a lot trickier than envisaged 18 months ago. What is positive is that sensible third parties (lenders, ratings agency) are buying into the story here.
It's natural resources - if it was all simple you wouldn't be chasing possible 10 x baggers as we have potential for here.
Personally I only put in here what I could forget about long term (or even lose, hopefully not) and I guess that's the sort of money you should put in a share like this one.
The only thorny issue in 3 months + time will be at what multiple of profit to sell at.

Just want to point out that I bought 125,000 shares this morning at 2.54 and it's showing as a Sell here

everyone with a few shares in this is micro managing the process in their head, its understandable as we are desperate to cross that all important line: new oil production.
Even if it isn't a massive gusher, their ability to actually deliver a successful mini project is so crucial - if this turns into a "we had a look and actually we can't get to the oil but we have this other good idea which will get us 30k barrels a day or whatever in june 2019" well then I think we will all pretty much have had enough.
there is a fair amount of people think that likely hence the dire share price. Me I'm stupid/optimistic and also if they DO get things rolling then its up and away - can't blaady wait!!