Member Info for Cygnus7

Disappointed if Eureka is dead as it looked like the only thing stopping it from being a money spinner was that RC was absorbing all of the teams time.

"Just 1 share trade gone though
we all know what that means...."

Yes, that somebody's only got 2p to invest.....

That's my small nibble buy (50000 shares @ 2.94p Monday afternoon). Will buy in small amounts whenever the price seems to be at or near a minimum. Famous last words.....

I think these prices are quoted in US 'short tons', i.e 2000 lbs, not the metric tonne (2204 lbs) or the long ton (2240 lbs).

The price seems to have been stable for a while now. It may be that punters are slowly buying in and holding so that the 'bottom' is slowly rising.

Hi Metalhead, yes. Very quite. Just thinking of having another nibble myself. May well do early next week.

Golf17: it always bothers me when somebody makes a prediction based on, or too, figures that are quoted to 15 decimals places! It suggests they do not really know what they are doing.
I used to work for the Ministry of Defence and I'd see the calculated ranges of shells quoted to tiny fractions of a millimetre. It's not as if a shell landing is a delicate issue! The range will be seriously affected by the mearest changes in meteorological estimates, weight of the shell or even imperfections of the paint on the shell surface but somebody feels confident to quite stupidly specific ranges. It's the same with share prices. So many things can change with time. I accept that estimates have to be made using existing information but to be so confident in ones figures that the initial data used is quited to a quadrillionth of a penny is farcical.

I think with the BR district now boasting 1.3 MT of Cu it places AA in an interesting position.
If AA were to argue that it does not meet their minimimu requirement of 2 MT then they could be turning their back on a porphyry district that could contain a lot more than 2 MT. Such a move would mean AA losing its current position with its 'foot in the dooor'. However, one has to factor in that with the increase in the price of Cu since the agreement was signed, less than 2MT would eventually lead to the same sort of profit margin AA originally envisaged.
On the other hand, if they decided to take on BR as it stands then it would be a small resource by their standards.
With those thoughts in mind I think it's entirely possible that AA may want to negotiate a new arrangement with XTR that allows them to maintain their 'foot in the door' which leads to more exploration and hopefully the realisation of more Cu. However, this time around XTR are in a far stronger position having already discovered what is clearly a porphyry district. What that new arrangement is I can only guess but I would hope that AA would help finance it based on some later pay-off deal.
Just my thoughts.

A couple of big rades amounting to £80k went through an hour or so ago and they look like buys to me. Surprised there's no reaction to the sp.

Hi Cela24, generally I think your views are interesting to read, but when it comes to crypto, I'm a total non-believer. Wealth is built on labour or services supplied which increase the communal wealth. Investing is merely the supply of cash to enable that process to take place.
Crypto is all very clever but at its heart it's a Ponsi scheme. Yes, of course some are going to make money but each trader is relying on a following 'investor' to do the same - definition of a Ponsi scheme. Unlike traditional wealth creation, no labour or service is being supplied to enrich the community. In fact the very opposite is taking place. Resources are being used (it's often been quoted that the energy generation of a small country is being used to 'mine' crypto coins) to do what? Solve equations that do not need to be solved! If the effort was being used to define 'Pie' to another decimal point it would be of some use, but no, not even that. Once the 'equation' is solved, the whole process starts again - madness.
I have no doubt that one day Crypto and the trading of Dutch tulip bulbs will be uttered in the same breath.
No doubt I'll be told I have no idea what I'm talking about. Yep, maybe, but I'll be keeping my assets in more traditional forms while I wait for Crypto apocalypse.

Bruce, your article outlines why I would be happy for XTR to begin a phase 3. Not only would the BR resource grow but the squeeze on Cu supplies would boost the Cu price. A trend that is only just beginning. It punters are willing to wait then we could ride a wave into a perfect storm. It would mean a longer wait but the rewards could/would be lifechanging.

Strange that somebody either bought or sold around 13k of shares yet the share price didn't budge despite previously moving when relatively small transactions had taken place. Just musing.

Docit, That's just a future point in time with the calculated shortage up to that point. You need to start worrying when the supply and demand curves start to part ways and that's expected in the next couple of years (even 2032 is only 9 years away). Maybe you should tell your grandchildren some scary stories about what life is going to be like when they're teenagers. lol !

Interesting article. The last paragraph sums it up nicely:

"Global shortages of the metal could reach 8 million tonnes by 2032, as soaring demand fails to be matched by new copper mines. The rate of supply increases required, is equivalent to building eight copper mines the size of Escondida, the largest in the world, per year, for the next eight years. That's insane."

It also mentions that shortages may well be seen in the next year or so. The timing could well be very convenient for XTR. Despite the resource disappointment, what we do have at the 0.33% level alone is very valuable. Either AA make an offer in the very near future or more exploration will occur (in my opinion). An increased resource, becoming available when Cu reaches new highs could create a perfect storm in XTRs favour. It would mean waiting longer but it could be a once in a lifetime event. Plus, those willing to wait will likely get the opportunity to buy in over the next year at bargain prices.

https://www.kitco.com/commentaries/2023-01-24/Copper-shortage-getting-real.html

Howezap, time will tell. We can only wait and hope...

"Based on the assumption that Fair Bride operates within its targeted parameters and no new business is consummated, the Directors do not anticipate the need for funds to be raised".
If further drilling at BR is required I guess that falls into the category of 'new business is consummated'.

Jezzoo, I believe CB said that we would not need a fund raise based on the belief that a deal would be achieved with AA. If that does not happen then it is likely to be because the resource is a little too small for them in which case it makes sense to continue drilling. Then, depending on the income situation from Africa, a raise may be a possibility but that would be an investment in future wealth rather than a 'lets keep the lights on' type of raise.

Hi Metalhead, I'd like to build a big position but I'm going to be patient and not chase up the sp. If the price falls I'll add, if not, it'll be one of those that got away!

This company sp sure is volatile. With the small number of shares in issue its something of a traders paradise. Everybody piles in when they expect news and out again when it doesn't arrive. If it drops to below 3p I'll have dip another toe in the sea.

If AA do not make an offer then I can see us using the African money to conduct further drilling to pad out the resource to something AA, or A N other, are interested in.
However, I think that although AA may think the resource is currently 'below spec' they also know that a resource like BR is potentially very valuable (especially in the near future) and it's other attributes (primality location and the numerous benefits that stem from that) are second to none. I can imagine they may well want to keep a toe in the door and may offer some sort of limited JV (funding possibly) to allow XTR to continue exploration on the basis the AA get first dibs (again) with some sort of sweetener (for them) should a suitable amount of Cu be found.
Just musing....