Member Info for FatherTedFeck

Steve, it is an interesting and relevant fact that Racecourse is tipped over on it's side...this imo is a positive for the open pit mining, but a negative for the underground possibilities. Open pits usually stop at about 300 metres-ish, because beyond that you're increasingly spending your efforts moving too much worthless crap for every ton of paydirt. Some can go a lot deeper, due to the grade, the geometry or the processing route. But 300m is a good rough guide.

But when the pit stops, the underground mining methods must begin. But even the bulk methods like caving do have a much increased cut-off due to the greater expense regime. Grades that work in a 300m deep pit may not work at all for any sort of u/g scenario.

And the geometry of the mineralisation is crucial. If the orezone drifts off sideways, then you can't just build a big drawbell and collect it all caving for the next 50 years. Instead, you will have to replicate this big risky capital expenditure many times moving laterally...also know as ****ing money up against a wall.

Thebestyet, don't tell me you prefer John CornHole MasterDebater? Surely not!

There you go, we were both wrong! Nice one.

Every board has it's troll, but not every board has one guy pretending to be 30 others. ;)

Yes Olderandwiser, that is the positive case. (although technically, it's 250%...and I wouldn't call it the minimum upside, maybe closer to a maximum upside...says Debbie Downer over here.)

Ben, XTR are not rubbish. And investing in copper/gold porphyries in 2021 might be the smartest financial move you ever make in your whole lifetime. I think even the 2nd-rate ones will probably kick rrr's eventually. Almost no stock is good or bad, but comparative pricing makes it so.

If there's 140 million shares out, and Newmont takes it over @C $3.25 a share, then C$456 million is the takeout price, regardless of whether Newmont already owned 10%, 49% or 0% of those shares.

What I was trying to extract from that transaction, was a recent market price per 1 million tons of Cu equivalent. (Remember Anglo have a "right" to buy Racecourse at a "fair price." We need some real-world indicators as to what that price could be.) This GT mob had 4 million tons CuEq, and Nem's price paid per share gave a price (translated into British) of 66 million pounds per 1 million tons CuEq. I thought this could be an (optimistic) guide for any XTR buyout, should all the stars align.

What Cyberiachas says there is without mistake. I'm not sure I want to correct everyone else's homework!

Newsie, you're confusing Cu with CuEq. C'mon man! Special needs or not... you can be wrong all you like, but don't be sanctimonious about it.

Recently, Newmont bought out GT Gold, who have a copper/gold porphyry in British Columbia. The price was CAD $456 Million, or 264 million pounds. GT so far have roughly 4 million tons CuEq, so their buy out price was roughly 66 million pounds per 1MT CuEq. If XTR were to meet the same success and were bought out by Anglo after reaching 2MT Cueq, this would mean a shareprice of 17.75p. A little less than a triple.

Now important differences are - GT's average grade is 1.33x better than the 0.33% CuEq of hole 1. This is not insignificant. Also, GT's deposit has 5 or 6x more gold per ton than Bushranger. Don't ask me why, but precious metals get bought out for a much higher proportion of their in situ value than base metals are.

Anyhow, it's just another data point for comparison shopping.

Compare those 140,000oz to ngex.v's 8 million attributable gold oz, plus their 7+ million attributable tons of copper, all at a higher grade and a lower market cap than xtr.

NicetoMichu...that is seriously funny!

I have added a negative perspective. That's not nothing. :)

Stevemocal, 35 kms from the world's biggest underground copper mine is pretty bloody good in terms of locationx3. It's more or less brown fields, each infrastructure element is merely a 35km extension at worst. Anyhow, my point is not to big-up some other obscure stock, but just to encourage comparison shopping.

I would say Winu, from what we've seen so far, is not that special, although they made quite a song & dance about it. Whereas Oak Dam sounds awesome so far. Yours is a good question as well...I don't know the answer.

AA have the right to buy the property at a fair price. cla.ax costs 18 million pounds, and they have roughly 2 million tons CuEq, with an excellent high-grade core (although in a sh*ttier country.) Maybe the fair price for Bushranger would be a disappointing number to xtr shareholders?

The consensus here is an organised deception. And, why would AA pay US$500 million for 2 million tons of low grade copper when they could instead pay US$12 million today for 2 million tons of mostly oxide copper from wcu.v, for example.

The blind leading the blind.

That's too high a price for an undistinguished pre-discovery play. For 40% the price you could instead buy igld.cn who already have a million+ ozs of surface oxide gold, within a licensed operating mining area. On the road to making money or being worth anything, these guys are about ten major box-ticks ahead of these wishbone jokers.

I don't think revenue is their thing. Try Lloyds or BP.

I'll take your word for it. I don't really do corporate politics.