Member Info for Cygnus7

M_Night, yes, I believe something similar happened to Alien metals via AA although they are yet to implement it.

It had a very positive effect on the sp.

Why is yesterday's RNS still showing as if it's been released to day?

Was it so good they want to have a double dip?

Or is it just on my screen this is appearing !

Thanks Andy, good baseline descripttion.

By the way, everybody seems to be profit taking at the end of the week - gold and silver getting hammered after a good week.

There's the potential for something big in that anomalie and I'd hate to give it away only to find it's a hum-dinger!

Thanks howezap. Yes, I think there will be more drilling of the crown on RC but would also like to see some work on the W Ascot potential feature as that could be a whole new resource.

I was wondering whether the next drilling phase will focus on RC, Ascot or be new drilling in the suspected porphyry west of Ascot (lets call it West Ascot for now)?
This boils down to which is going to be most profitable: partially improving the JORC of RC from mainly inferred to indicated or new drilling in Ascot or W Ascot to create an inferred resource. I ask as it was mentioned that Iceberg had said that a major miner would only consider an inferred resource as being of 50% the value of an indicated resource. Have to admit I missed that nugget. Any thoughts?

I see the sp has risen by 5% on zero sales or buys. Just a rather non-descipt RNS.

howezap, I was wondering the same thoughts about the 4 holes. Like you I think this is a mis-undestanding of the 4 core samples. I'm hoping that the new drilling will pad out Ascot and conduct new exploration on the anomalie west of Ascot to get it to a similar status as we currently have on Ascot. Maybe even a handful of holes to fill in gaps in Racecourse and another dip into Footrot. Happy to wait if it means finally getting close to that 2MT. In the meantime there's the opportunity to top up at prices lower than when we did not have income or 1MT + of Cu in the ground.

Anyway, although a concentrator seems like an admission of 'failure' to some people, to me it implies improved profitability from where we would otherwise be. Yes, it does mean more waiting but I have no doubt it will mean eventual success.
While I'm here, another pouint that occurred to me is that if we are to now produce the plan using a concentrator and then further drilling, then clearly we will not be presenting the prospect to AA until after that. We are looking at this time next year. We should then be in a position to offer maybe 1.5 + MT to AA. Will the plan then be redrawn to include the additional Cu found vis the drilling?

O.K, I think I get your point. You're saying that because the input grades to the mill are better, the end result will be purer and therefore a better price will be obtained. You're simply asking what that price is? Assuming there is a higher price.

howezap: don't think it works like that.
It just means that the ore fed into the mill has higher grades and hence there is less processing that neds to be done. Less water, chemicals, energy etc. Hence the cost of generating the Cu is reduced for the up front relatively small investment into a concentrator. Then you just sell the Cu having spent less on the production of that Cu.
I think that answers tyour question - unless I misunderstood you.

"I very much doubt he is planning an offensive for the 23rd of February and I’m pretty much 100% certain on that."

Well, not this year anyway.......

Waiting for the new tax allowance to become available before committing more. I've generally found when investing that the more patience one has the better the price one can buy at. Obviously not always true but, but generally so.

Thanks Seisnav. I'll look forward to those results.

alloamad, I'm not a holder - yet, but keeping an eye on this stock with a view to buy when funds become available so bear with me as I'm not fully up to speed, but didn't the company give out a production update on the 15t Feb. Why would another be expected this month?

Andrew
If this was an explorer that was living on dilution in the hope of selling an asset that they were hoping was in the ground then I'd be gone from here. But, they have gold income from Africa just as the gold price looks to be appreciating. That allows XTR to take thier time even if it does wind up shareholders. Yes, CB said he would tie a bow and we'd be gone but the grades were sending a signal that this was not one of the top porphyries in the world. It needs a bit more coaxing to come to fruition. That doesn't mean it wont be worthwhile. Hence the concentrator and more drilling. If that means a bigger pay packet down the line then I'll wait.

I do have faith that this will eventually be financially worthwhile to us shareholders but also feel CB may be playing for time as all punndits suggest that the Cu price may be rather soft for a year or two before the world's electrification causes price to appreciate. The wait doesn't bother me. If waiting a couple of years means I can continue to build my holding while further drilling expands the resource then the current wait will be worthwhile. As long as there's a pay day at the end!
Having said that I find it difficult to image that the existing resource, plus more at Ascot and potentially an additional porphyry in the IP anomalie west of Ascot, and a higher Cu price will not make BR a real money spinner - eventually.

You may be right Jezzoo but do remember that the capex wil change depending on whether a 'concentrator' is employed, or not.

Norm, the problem is, not increasing rates allows inflation to increase. There is an arguement that maybe rates should have been increased earlier but at a slower rate. Currenlty between a rock and a hard place.