Member Info for Ella10

Billy,
I am not suggesting the licences are due. This is exploration we would have been very lucky to hit any meaningful sections of copper in our first drills. I do however think that comms was poor, and that the RNS on the KCB drilling didn't convince the market that we have a decent chance of finding copper in our licences or indeed that we would hear any news on drilling for the next 6 months. I'm not saying we won't get any news for ages but I thought the comms was poor.

Whowrotethis,
I don't disagree with a lot of your post but I do think comms could have been much better for the drilling in the KCB. I don't think the last RNS was terribly convincing. In my opinion rather than trying to bury the not so good news on our retained licences with news on the SFR licences we should have got a clear update on what was found on our licences, what the next actions would be and when we should expect further news.
I do however think the sale of Glenover is good news and couldn't/shouldn't have been discussed until the deal was agreed and news could be formally released to the market.

Absolutely fascinating who are JMG??

1) sale of assets being the stockpile £1.97m for GLR 29% direct share. GLR also own 4.99% indirect not included in the £1.97m which should be worth more
2) sale of mining rights. GLR £470k
3) Sale of Glenover itself £4.78m to GLR

Total circa £7m to GLR, plus whatever for the 4.99% indirect ownership

Hi CE,
Have a read of a certain other board for a certain other company. Perhaps I should post that we have been recovering core containing solid gold nuggets across the whole eastern side of the licence area.

I'm no expert but I thought that they might have been trying to follow the gold anomaly from hole 16.
http://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf.

I don't know what significance the word siliceous has for hole 29 but it was a very definite hint about something. Was it just a hint about the new porphyry. I am hoping we are going to see some more gold.
'Based on preliminary logging, and subject to laboratory assays, the hole intersected zones of very siliceous alteration with traces of chalcopyrite from 66m to 525m downhole'

Hi Turtlewax,
I hadn't checked the mining cadastre today - good spot. I had checked at some point yesterday and they were still present.
Any thoughts on our pre Chrismas closing price?

I would like to see what their complete IP data to date looks like. They obviously have data goes further North and further South than the map below and they have Footrot. We could have porphyries spread over 10km of our licence area.
http://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf.
https://xtractresources.com/wp-content/uploads/Bushranger-Summary-Presentation_April-2020.pdf

Hi Piscator1,
The assumption that no share issuance authority in the resolutions means they won't tap the market for funds is incorrect. Look at the previous AGM resolutions .
Also, from the articles of association:
'Shares and other Securities may be issued at such times, to such Eligible Persons, for such consideration and on such terms as the directors may by Resolution of Directors determine.'

Worth a look at slide 6 here. Things have obviously progressed but there is the potential for a lot more
https://xtractresources.com/wp-content/uploads/Bushranger-Summary-Presentation_April-2020.pdf

Steve,
I believe the AA buyback refers to the whole licence. The Bushranger licences are either subject to the buyback (Racecourse) or subject to the 3 year term (The other licence areas). That's my reading anyway.
https://www.lse.co.uk/rns/XTR/bushranger-copper-gold-project-australia-o7u71uhdwbdy9b9.html .

Does the fact that we haven't had an interview yet mean more news tomorrow? Or is CB just worried about HD getting on his case if he does an XTR interview today :-)

I assume this is Polonium? Is it's presence a significant indicator?

What is the significance of Po in the photo??

Andy,
Your message may just be getting through! Well done CB and team an RNS with a superb title!

http://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf

I think the drill pad for the two holes is the one second from the bottom of the map.

Pah! I expected it to be called Seedy Toe ;-)

Do we assume that the diamond company previously mentioned in relation to the previous drill hole at Ditau and was De Beers? Interestingly the 2020 prospectus mentions an agreement with De Beers allowing KAV to look over one of their nearby carbonatites to help with exploration - so sharing of info was possible at that point. Perhaps we have got some info from the mentioned drill after all?

Hi Dcat,
I agree with your summary. The £1.97m should be in our bank account by the end of Feb. The other items are not guaranteed as they are conditional and/or subject to Afrimat exercising the option but certainly looks promising. I assume GLR will also get repaid the loan if the share sale completes?
I haven't listened to the interview yet.

Hi Lucky,
To me the AA option details wrt 2MT are not that critical apart from the fact that it gives AA first refusal. If we get a deposit big enough for AA to be interested and they want to purchase it they will put in an offer whether it is 1mT or 5mt of copper so long as they feel it fits with their aims and they can make sufficient profit over the expected life of mine.

Where are the assays??!!