Member Info for Cygnus7

Ella said - "Speculation that CB is in some sort of negotiation that prevents him releasing assay results does not appear consistent with releasing the IP survey results and the announcement of technical and financial modelling for an open pit mine. Why would there be restrictions on assay results only"

May I suggest that the reason is because the IP results are positive but not definitive and also help to maintain interest when clearly the sp needs some propping. Assay results are more specific and would not be the sort of thing that AA would want banded about. Your comment actually gives me more confidence once I have thought it through.

Jwoz,
Your last para is important but also, why extend the duration of the electrical survey by 50% if they were not finding anything !
Hence, the reasons I was looking for the radio silence from CB. I don't see the silence as bad news - it could well be a very good sign.

I think there are two possibilities as to why the news is no longer flowing and I don't think the results are disappointing otherwise I don't think CB would have set himself up for a fall after all the glowing mark-1 eyeball discussion.

Option 1: CB is working closely with AA and they do not want other companies to know the results of the latter drill holes and surveys. This assumes a pretty chummy relationship.
Option 2: CB is currently not working closely with AA and he does not want AA to know the current situation - yet. This may be because if they knew the prospect was going to easily achieve 2 Mt they well make a low ball offer (say 1.5Mt) removing any risk to XTR but reducing the reward. CB may know it's a better prospect than that and wants to avoid this scenario.

Just my thoughts.
Cygnus

Also, I think the sp has fallen not because of the African info but because there was no mention of BR.
Cygnus

SK24,
The £5.5 million worth of warrants shows that XTR are very confident, so perhaps has forced AA to act?
I did suggest something like that some weeks ago but the feeling was that XTR were in control and that it wouldn't happen like that. But I don't see why not. The earlier AA act the cheaper they could get it as less Cu would be proven up. Ultimately it's up to XTR to say yea or nay.

Reason,
You are right that the early results look good from both visual and X ray analysis, plus the first assay results for hole 1. CB has already said that he is very confident of what we have and has consequently booked both the existing drill crew plus another as there is a lot of demand for these crews. If he had waited then we may well have had to wait months for a crew to simply become available. Don't forget that on the back of what CB knows he has twice bought one million additional shares himself. Hope that answers your question.
Cygnus

Clearly there is a reason the news flow has gone from 'daily' to 'batched'. Steve could well be correct .
No problems. I'm more confident about this share than any other I have been invested in - just requires patience.
Cygnus

I take all your opinions on board and they are as likely, possibly more likely than mine to be right but it's interesting that CB has gone from daily updates to an early warning that the the assays will be published in batches during this exploratory phase.
I'm assuming that it is legal to have the lab hold the results if nobody outside that lab knows those results - otherwise how can CB say that the results will be published in batches ? Happy to be corrected if anybody knows better.
Cyg

I'm wondering if the late arrival of the latest assay results is due to CB not wanting to present AA with the opportunity to come in with a low-ball, early offer which is what could happen if hole by hole results were published and the results were good. If all the remaining results are published in a month or two then we may automatically be well beyond 2Mt and AAs opportunity to get in early will not happen.
I can't think of any other realistic reason for the results to be this late.
Cygnus

Clearly the lack of news is causing the SP to drift. I don't know why hole 2 has not been reported but one thing I'm certain of is that the new IP survey team have not turned to CB and said "Not finding anything here. Think we need 6 weeks not 4 if we're going to have any chance of finding something"! I think the conversation would be more along the lines of: "There's a lot of geo going on here - think we need 6 weeks, not 4 if we're going to get an idea of what's going on"!
Just my two penny's worth.
Cygnus

Yes Ben, it looks like a molar !
I did some early research by talking to a friend's son who recently graduated in geology !
So, still got my fingers crossed for good hole 2 results.
Cygnus

Ben said: "I'm also leaning towards Hole 2 being weaker than 1. Mainly because they were across the ore body and not down plunge"

My understanding of a porphyry system is that the richest mineralization is not in the core but in a shell around the core. Therefore it is quite possible that the hole 1 results, if accurately following the core, should give the weakest mineralization results. Can anybody confirm ?
Cygnus

Very interesting comparisons News - puts things into context.
Cygnus

Am I right in saying that on occasion assay results are delayed because they are, shall we say 'anomalous' and need to be checked prior to being released to the public. Having looked at the final hole 2 RNS again I see CB remarked that the copper was visible in some sections. So, this delay in release of the hole 2 assays could potentially be very good news.

Sounds good then !
I thought it may make more cash available to the company as new shares would be created thereby leading to dilution. But, as you say MTM, if that's the way it works then it sounds like good news.

Would an Aussie listing create dilution of our own shares ?
Can anybody shine some light on this issue ?

Cygnus

I'm wondering if a lot of traders got in during the 'rapid expansion' phase when the sp shot up over a couple of days. It's the sort of thing that attracts attention! They then got trapped in when the price fell and have been getting out as and when they can turn a small profit. Either that or the ii that created the rapid sp increase has been taking some profits.

Welcome to the Xtract fan club. You should probably have done some homework before diving in, but, having said that you may have timed it perfectly. Waiting for assay results from the second drill hole and drill details from hole 6. All looking very positive. Very much under the radar at the moment - just waiting for the investment community to wake up.

Following my reading of the geology involved, wouldn't it be reasonable to suggest that hole one may well have gone straight down the Centre of the ore body - which is not the richest part of the porphyry. The richest parts are in the wings on either side of the core. If that is the case then the next hole assays (cutting across the porphyry) could be very interesting and the figures obtained from hole 1, being consistent along the vast majority of its length suggest that 0.33% is indeed a good grade.

How is it that these buys can be delayed? Surely the time and quantity of a share deal affects the price and to delay that transaction must be an infringement of some sort of rule? Does this bode well for tomorrow morning or are they already baked into the cake?