Member Info for Cygnus7

Carp,

It was simply a response to the comments by Fitch based on what you wrote. I accept that China's demand will fall but surely it will be replaced by India. The way you reported the Fitch material it seemed likie China was operating in a vacuum. Just surprised you didn't balance out the china stuff with the India stuff.

Fitch Solutions clearly assumng that the largest populated country on the planet (India) will not want to develop further and will not want to invest in infrastructure.

Interview with CB.

https://soundcloud.com/zak-mir-32494497/colin-bird-executive-chairman-african-pioneer

Talking of BR, I cannot see a company the size of Xtract being able to just walk away from 1.3 MT of copper in such a good location. Something will have to give even if it's just a sell on to another exploration company - which I do not wish to see.

Remarkably, we are one of the few companies of our type on AIM making money which gives us options. Personally I would like to see:

Some further shallow holes in the crown of RC to firm up more copper from inferred to indicated - to ensure a purchasing miner can get their money back therefor enhacing the value of the prospect.

Further exploration of Ascot as this would be the primary source of any 'new' copper to be added to the existing 1.3MT.

And lastly, some exploratory holes into the western lobe which is currently assumed to be a porphyry but for which we have no 'hard' evidence. The purpose here (assuming success) would be to say to a purchaser "here's something for you to work with in the future".

Hopefully African money would allow this to happen although I could see it taking a year or two.

Cygnus

I do find it strange that XTR must be one of the few AIM companies making money and profitability must be good once the results are published yet nobody wants to take, a least a short term advantage. Yes, some may say the CB effect is having an influence but cash is king. Go figure....

Captain, I agree that the 2MTs of copper are in and around RC. There's a whole porphyry west of Ascot that is totally unexplored (very probably !) while Ascot is only poorly explored. Most of the later drilling was spent looking for the source of all of these porphyrys between RC and Ascot and was not successful. Eventually, when we can afford the budget (without dilution) we need to finish the job at BR. The resource needs to be increased by ~50% and hopefully by the time that happens the copper price will be flying. Just a matter of time.

'Revenue is vanity, profit is sanity. Hence the selling'.- Bushy.

If selling has this effect on the sp, I'm all for it....

'Could call us Arian silver.'

That would bring me out in a cold sweat and I'd be forced to sell up.....

I see there's a 23% spread between the buy and sell prices !

Roses,

Concerning the buy/sells. I had this about a year ago. If I remember correctly I bought some shares but my account was a few p/£ short of the funds required and the sell went through only to immediately be cancelled.

LOTS: I think you'll find that the fall is related to the prospect that some have discussed concerning a posible raise. Money is being removed, to then be pumped back in when the raise has taken place but at these prices a raise would be quite delutive.

IMHO

Hi Zap,

Sorry for taking so long to get back to you. My meaning concerning the lack of adavantage of using the ore sorting with the high grade material was that one lorry load of ore from the crown of the porphyry is very much like the next and the sorter cannot differentiate one rich portion from the next. The lower grade material is surely patchy in grade and therefore easier to sort, good from mediocre.

Crikey, it's *'ed out the beginning of the 'long' word.

Should mean "that the ore is generally very similar"!

it's interesting that the ore sorting technique is of little use to the higher grade ore. i take this to mean that the ore is generally ****geneous so very little sorting actually takes place.

HI All,

Just for comparison, I was recently reading a book about the geology of Cornwall where it listed all of the geological resources that have been extracted from Cornwall throughout history. To my surpsise it quoted a figure of 1 million tons of copper having been mined since Roman times. So, that would mean that BR+ Ascot together, based on the limited drilling so far conducted contain 30% more recoverable copper than all the copper ever removed from Cornwall. A county much famed for its copper mines (amongst other metals).

Question: does that make Cornwall a tier 4 county?

Clearly Kwak has been triggered by the up-tick in the sp.

DVH & Cyb: You might be right but if any good financial news arrives in the near future the placing could well end up being above the current price. I'm nibbling to try and play both sides but I think this could soon fly and 2.5p may not be an option.

The lack of buying here is due to the belief that a fund raise is about to take place. That may be so but when it happens the price may move so quickly that most punters cannot get in at a price lower than it is currently. That being the case (in my opinion), I have been adding modestly, including todays only purchase (up until 2pm).

Gixxer, Yes, I believe you are correct. There are multiple ore separation techniques that have to be tried multiplied by the different ore samples that were used to find the best average overall solution for the particular ore characteristics at BR. Definitely not a modelling issue - maybe a bit of stats.
Expecting a result in the next week, but I am the gullible type (assuming the results are published).

The shares in issue are 856 M, with warrents etc it comes to about 1B. A sale price of 171M, divided by 1B shares is 17.1 p.
As nobody would know the BR sale price the market would be speculating on the price hence the sp would be the speculated BR price plus the African assets. Assuming all goes well the company would issue a special dividiend but the remaing company sp would still incorporate the value of the African assets.
At least, that's the way I see it.