Member Info for Cygnus7

Ice,
Do you think this is a sign of coming events? And if so, what?
Also, while you're here, your last blog entry suggested. I think, the possibility of 3 or 4 porphyries in and around Ascot. Can you expand on this please? Unless you can see the metal content of the assays, what makes you think that the drill results belong to multiple systems?
Sorry, lots of questions but would like to know.

At this price I may be forced to buy more !

Change of subject -
As there is clearly going to be a delay to the original date of June to sell up, albeit a welcome one as it will eventually result in added value, I'm wondering why the IP results have not been published. Also, the Empress Royalty mining progress. I'd imaging CB would be very eager to announce to the world that Africa is now making real progress.
Lastly, I have mentioned molybdenum a couple of time is the last 6 months or so and was interested to see CB did so himself in the last RNS when referring to Ascot but without any grades. I'm wondering if this is because Mo grades are typically very low and that to publish them would give the impression that they are very poor when in fact they are acceptable. Gold plus Mo in Ascot could be very profitable with Mo being valued at about 4 x that of Cu. Odd that Cu seems to almost be absent from Ascot but then that's why it was clearly a new system.

Personally I'm hoping that they will be used to prove up all that there is to find at BR. I know that's not everybody's wish but as CB himself said "we don't want to sell and then find 6 months down the line that further porphyries have been discovered" - or words to that effect.

Flipper,
A couple of times over the last year I have suggested that maybe the best possible way forward would be to somehow sell RC but continue exploration in the surrounding area - I just couldn't see how that would work in the real world though !

And on the subject of something being a tad off with the interview, well, if he was trying to introduce a delay on RC to maximise the eventual payday then his chat, primarily about Ascot, would indeed sound a tad off from his usual effervescence.

Gixxer, I understand your frustration but bear in mind that CB cannot just blurt out that we have 2MT (if we do have) as, presumably, that would start the ball rolling. All well and good but CB clearly wants a good idea of what Ascot means to the project and clearly wants more time to explore that. Delay at this point could well be the most profitable way forward.
On a slightly different tack,
I think there are a lot of traders here and when it's clear that it's not a matter of jam in 30 minutes they disappear to the next pay day company with a view to return 30 minutes before XTR delivers! That, to my mind explains the sudden drop in sp. Hopefully the traders will be left in the cold when the day comes.

As I've said before, not worried about a delay if it means a bigger pay day at the end.

Despite the flexi timescales, I thought that was a very positive chat. Essentially saying that Ascot could be a second RC. Plus, a subject I've raised before - CB mentioned molybdenum which would be a very positive addition to Ascot. Just wish he'd mention grades.

ART, I think you'll find that all of XTR's data will be handed over to the AA geos and they will do their own analysis. If the XTR geos have done their work properly the two results should be pretty similar.

"On reflection, I think that we can safely assume that if CB is going to release an interim progress report than we are not there yet". - ART123

Either that or the prospect has expanded so much recently that it would not be wise to stop it mid-flow !

Phil,
I think we now both agree.
Messages that we want a quick sale and that XTR are going to continue drilling and that something is happening behind the scenes.
Same page !

Phil,
I accept there is a conflict. Everybody wants a quick sale as it then becomes 'money in the bank'. But we also don't want to leave anything on the table!
What if we watch over the coming years and find that AA discover - for instance, 3 additional porphyries to the 2 we already know about? We'll all be muttering, "if only, if only".
A long time ago I suggested a rather naïve idea that the best outcome would be to sell RC and for AA to allow XTR to continue exploration of the surrounding area. Yes, I don't know how that would come to pass either but it would be nice: even if we didn't get full dollar for anything we found.
This is the frustration stage and all we can do is sit it out.
GLA
It's this 'will AA or wont they' stage that casues

I see the radio silence as a positive thing. It is exactly what I would expect if CB is in discussion with AA. I think I'm right in saying that this is probably the only situation where relevant information can be held back from the market and there is a lot of news to be published.
If bad news was in the pipeline then that would not stop CB from publishing drill sites, the IP survey results for instance.

Phil,
Sorry mate but don't understand the following sentences that you penned.
"That way stopping drilling early makes perfect sense to me. The buyer will be willing to pay more than fair value at that point imo. Because the more xtract find the price will go up and up and no buyer will want that."

The price that AA pays may go up but then mining is their business and the more Cu the more they can eventually profit from it. I accept they would prefer to buy the resource and then find the other local porphyries themselves but until they buy it's down to XTR to find as much Cu as possible. This is why I have always been keep for XTR to continue drilling as long as it takes as long as it's financed by African profits - although it would be nice if the sp mirrored the additional value in the company to some degree, which does not seems to be the case at the moment.

Phil: My comments are only my personal opinion and I have no prior knowledge of these things so it's little more than a guess but hopefully XTR will soon be self sufficient in terms of cash flow.

Considering there would hopefully be African income by then I would hope they would not need any of the cash from RC to continue exploration. And if they do I'd hope it's a lot less than 30%. Maybe 5%.

Yep, I think you're right but that then suggests an extension to the duration of exploration. I'm not against that but just hope that African funds will be in-coming by then to avoid the need for dilution.

Thanks Howzap. Still don't understand why the western lobe has not been explored though !

It has surprised me that the south western lobe from the IP survey seems to have been totally ignored. I'm no geologist but from Iceberg's message "west maganomaly being the potential pulled up high mineralised intrusion..." suggests that western lobe mineralisation would be at shallow depths while mineralisation in the eastern lobe would be deeper - yet no exploration of that area. Also, not sure what the intention of the new IP survey is. I know it will cover some new regions of the forest which could not be surveyed the first time around but is it to both refine and extent the survey? Anybody have more info?

On another point. I was expecting the results of the IP survey to be out by now. I thought it was a very quick turnaround. Unless of course CB has been asked to remain quiet for the mo - that's for the moment, not the molybdenum.....