Mr A , I have been in and out of Barclays for the last 11 years. Recently I rode this on the way down since 2017 topping up on the lows but still holding. The dividend is important and I like many others had their expectations shattered when we lost a potential 6p in 2020. A good dividend will always make this bank attractive to the fund managers so let’s hope for 3p in August and some more buy-backs. You have more guts then me to trade this stock but it is more volatile then a lot of others blue chips. Nerves of steel required for that game.
This RNS was as if there were two Colin's, one who writes about Bushranger full of facts and projections and one who writes about Africa full of vulgarities and maybe's and some day soon's that we LTH are more used to.
It's still turning but how much longer10 Mar 2021 17:35
On Monday 1st we were 140m deep. If it drills at a rate of 70m per day, we must be at least 800m deep and it is still turning. That is if we trust the BoD will be quick to release an update which recent history has shown they are. This must be good news still.
These short term fluctuations are very interesting but we need to take a slightly longer view on this. By the end of March we will know how holes 5 and 6 have gone and also the assay results. I would like to think we will have an update on the other projects in Africa as well. There is a lot to be hopeful about at the moment.
Pops1980. I have been in XTR since 2017 and had to average down over the years to be now sitting on a nice profit over there. I have invested in BZT as whilst I do not think it will surge like XTR any time soon, it is undervalued for the potential resources it holds. I will see how this goes but I do not envisage averaging down here.
I also had a TR7 in 1984 but it was not as fast as my silver 911 Turbo - that is Scalextric for you.
These promising updates from Aus are all well and good but what is happening with the Gold in the hills of Manica/Fairbride ? Come on Bod, any chance of an update for the long term holders. I am very happy that I now in profit but we could do with an update.
Let all the LTH all celebrate the rise. Long may it continue. I doubt there will be a standard placing, BUT, they do have a funding facility set up with Sanderson which they could call upon to the tune of £700k which Sanderson would be mad not to convert to shares. This would still only be a small dilution compared to previous ones.
Whilst I like the recent rise as much as everyone else and am excited by the Bushranger potential, I am also cautious. We have been here before with sudden rises to the 2p mark shortly followed by a dilution. IF XTR needed cash, Sanderson could lend it £700k as part of the pre-arranged funding facility on the 30th Sep 2020. Sanderson could then exercise its right to convert this loan into new shares at an average of 1.5p per share, a very healthy return on a loan, provided of course that the shares held their value and Sanderson were able to convert them into money at some point. Such a move would express confidence in the company but would also be a 'nice little earner' for them.
This RNS shows a couple of things, the BOD actually do care about reputation and to issue a rebuttal so quickly when in the past such news would have been met by silence can only be a positive sign for the future. The other concern is what is not addressed, there is no doubt even in the 'articles' that the Zambian Mining Ministry did issue a licence. The concern is how this happened and what went on behind the scenes. In my opinion, the RNS should have also stated that this decision is not being challenged in any legal or regulatory capacity. Any due diligence would have examined this aspect of the licence being granted so why not confirm it.
These issues have been bubbling away for a while and whilst I agree this ‘article’ is poorly written there could well be a grain of discontent in how the mine was originally acquired. The only way to dispel these rumours would be by a clear RNS by Xtract explaining the situation and their confidence in the due diligence process that took place prior to purchase.