“I agree, but there has to be a line and withholding key assay results while you buy shares is definitely on the wrong side of that line.”
There is simply no way he is doing what you may be suggesting (if you are suggesting). He can’t be as that would be buying shares whilst in possession of market sensitive information. That would be stupid and he is def not stupid. So, let’s just accept that he has indeed bought legitimately and the assay results will follow in a ‘batched’ fashion (ie.likely holes 2 and 3 at least, disclosed together) as was disclosed in the recent RNS.
Second drill assay results are, I would say, overdue now. Maybe you can argue we lost a few days through Easter weekend but given first drill assays were out on 19th March that’s now THREE weeks ago. Come on Colin I am fully expecting a 7am RNS today.
RE: What exactly is the market waiting for?06 Apr 2021 13:56
Fosters oh come on you have to laugh. We are actually DOWN on the opening price! And all after what is fundamentally a very encouraging positive announcement. But it’s really very simple here. Just hold onto your shares. It would be oh so easy just to sell up now thinking this is just not going to do anything. In my opinion that would prove to be a very costly mistake.
So, as much as I can, I will ignore all these meaningless intraday SP movements and focus on the fundamentals. Which are indisputably very very promising indeed.
We don’t know Colin’s longer term plans for this company. He is ahem advancing in years but that of course doesn’t mean he wouldn’t wish to continue working for many more years. He might consider royalties as part of the deal if he DID have long term plans for XTR. Personally I think it will be a straight complete clean 100% buyout.
I had another question re AA buyout which may be rhetorical. If, WHEN, AA are presented with their buy out option what is the time limit for their response, how much time have they got to consider? Maybe they won’t need long... 5 minutes enough? :D
Let’s suppose we hit the 2MT target at Racecourse and the AA buyout option is activated. Is XTR obliged to then accept AA’s reasonable market value offer (as part of the original agreement) or can they refuse? And if we refuse AA could either increase their offer or it would just go to the highest bidder be that Newcrest! Rio or whoever....
I would say this is now reasonably valued at just under £7mc. Perhaps erring slightly undervalued if anything but if I buy back in I’ll be looking to get sub 2p now. Not sure what the cash position is, I’ll check it out over the weekend (if no one else knows)
I realise this is off topic - and it’s the only time I will mention it here but if you want great exposure There are a plethora of interesting Aussie gold micros and juniors on the ASX. I would recommend a bit of research in that area, Kincora, Sultan, Bryah the list goes on and they are all in hot exploration areas with really interesting licences. Not just that but they are NOT expensive some very attractive valuations. I have a decent holding in SLZ:ASX but am looking to widen exposure.
Don’t **** me off just trying to give people other ideas....
I am thinking of loading up further before the suspension but I have a question.
The company is currently valued at just £1.5m MC. Yes they have £1.2m in cash so the EV is just £0.3m (peanuts). However I am wondering how they will raise £6m in cash for a company with a market valuation that’s a fraction of that figure. So won’t the fundraising cause huge dilution? Or could they structure in another way and, if so, how?