Member Info for Cygnus7

If the delay truly represents continued drilling then we are in danger of having copper so deep that it's not retrievable !

It does say in the article. I'm not going to re-read it but I think the value was ~ £250M.

3 card
That's quite a story. Being hidden for centuries in plain sight.

The sells and buys totals on this site really can't be relied upon. Currently it shows about £19k buys and £2k sells and the price has dropped. Something's amiss somewhere.

I think the first holes into the southern IP anomalies will be super important to this prospect. We clearly (I believe) have the size for a great mine, the question now is the grades. Lowish grades will still make this economic but good grades will really turn heads. The IP results look good down south, we just have to hope the grades reflect the anomaly signatures. Hoping we don't hear anything for a few more days yet.

Thanks Steve, I'm sure there's a few of us here. I've been caught a few times in the past with dodgy locations, sole resources etc but I think this company avoids most of the obvious pitfalls I've fallen for before - hopefully I've lived and I've leant.

I was planning a little top up this morning having sold out of a copper miner that was not performing. Then I got cold feet and thought I might be over-committed here. But once I saw CB's increased skin in the game I went for it. Ok, wavering cost me ~ 0.2 p per share more than if I'd gone for it this morning but feel a lot more confident now.

Steve - I agree with you. I think their will be gold associated with this deposit - just need to find it and it's been suggested that the early holes of the 2nd phase are designed for that purpose. And if the IP anomalies are indicative of copper then this could well be a lot more that 2MT.

I think as shareholders our major concern for Bushranger is that despite a few 'hot spots', the majority of the rest of the resource turns out to be of low grade. It could be huge but not particularly valuable due to the work required to obtain a given amount of cupper. This could well reduce the % value a miner would pay for it.
Having said that I'm gambling on the South Eastern IP anomalies being the bread basket for this resource and just wondering when to have my last top up.

Sq52,
Interesting video but there was one error. Somebody said that copper has the highest electrical conductivity of any metal and that is incorrect. Silver is used to set the standard for electrical conductivity. If silver is given an arbitrary conductivity of 100 then copper is 97 and gold 96. But clearly those other substitutes are going raise the cost of going green a tad - hence copper use.
One other thing I thought about while watching the video is the amount of copper theft we are likely to suffer if the price does rise substantially.

Thanks Sq52 for the Footrot info.
I would be very surprised if we don't hear about the first drill hole on Monday morning. If we don't it's either still going and finding mineralisation or we're waiting for CB to return from his hols.... No seriously, I think his hols will not affect the delivery of news in any way.

I don't remember anybody saying that Footrot starts 500 m down but maybe I missed something.

Howezap I agree. The fact that the resource is in Aus, is close to Sydney and open pit must surely pump up the price a big miner would pay. In addition, if BR is the size we hope then this is the sort of mine that could become a hub for decades due to it location and size.
4 or 5% ? Now that would make a lot more difference than a few $ on the price of Cu.

Footrot is an unknown at the moment. There's clearly something there but it could be a wet squib or even another BR.

Yes A444, I meant to add that Footrot was being ignored. I have a feeling that should BR be sold to AA, CB may well keep Footrot for XTR as a home grown development.
Cygnus

Screen & L520,
Yes, I tried to veer very much to the conservative side of things so I ended up with 2 M T but that figure could indeed be a lot higher. It's just a matter of the market getting to gripps with the potential.
Cygnus

Back in late winter I did some numbers to see where the BR prospect may lead the sp. I thought I'd do the same again now that the prospect looks so much bigger. One of the advantages of BR's larger size is that one can be more conservative with the figures and still end up with a valuable result. Before I start I have one question that I would appreciate an answer to if anybody has an insight. During the video/zoom meeting there were references to the very clear saddle resource to the east of the currently known resource that was picked out by the IP survey. However, this, to my eye was not clear on the 3d presentation. It looked rather minor to me but elicited a lot of excitement because what was previously dirt suddenly became 'pay dirt'. Am I missing something?
In the following, you can just inject any figure that sounds sane to you but I have tried to be conservative.
So, after watching the presentation the length of the currently planned open pit and the new IP detected area to the south was quoted as being up to 3 km long (yes, I realise this needs to be confirmed as Cu bearing ore but lets assume that's the case). So, let's use a length of 2.5 km. The width was quoted (if I remember correctly) as being over 600 m (including the saddle feature) so I'll use 600 m and a depth of 500 m as the Cu does not start at the surface. This rectangular shape has a volume of 750 million cubic metres. I'm then going to halve the volume to account for rounding off the corners of the resource and for any voids within it. Then multiply by 2.7 T/ Cubic m (this is one of the numbers we can rely on as the density of rock per Cubic metre is not going to vary too much) which gives a nice round figure of 1 Billion T.
If we assume that the average grade across the whole resource (after we have rounded off the corners and eliminated the voids is 0.002, i.e. 0.2 % then we are left with the fabled 2 million tonnes of Cu. Multiply that my 10k /T which although above the current price, is only so by a few % and could soon be a low number. Use 0.72 to convert US$ to £ and then the tricky question of the % that a miner like AA would pay for the resource. I have chosen 3% which could be very conservative considering the location of BR, the size of the resource (decades of mining to come) and the 'heat' for future Cu resources. Then divide by the number of shares which I will take as 1 Billion. The net result is: 44p per share - a ten bagger from where it currently is.
Now, many a slip between cup and lip but which of those figures would others consider extravagant? Possibly the 0.5 figure to round out the resource may be too high, the length dimensions of the resource may be too large. But many of those figures could well be too small.
Something to mull over.
Cygnus

Could the lack of commercial interest in XTR be due to the lack of mining conferences following the various levels of lock-downs around the world. This would explain why CB cannot get the word about as would happen in more normal times. Just musing....
Cygnus

CE & BTTS, yep. I agree. It's nice that everything that's found from now on adds to the financial case. But high grades do attract both investor and miners. Just look at the way investors lost interest when some of the grades did not reach the heady heights that were at one time expected.
Personally, based on the IP results I think the best of this resource will be found south of the currently planned open pit.

CE, I accept that volume is king in these geological systems but from a miners point of view grades must be very important. If you can get a tonne of copper from mining half the ore then that's a huge operational advantage to the miner. Good grades will mean a quick return on investment but yes, the shear size of the resource is what will decide whether the prospect is purchased or not.