Member Info for flipper56

Good call Rick. I will take a 10 bagger from 3.5p. My call is that Boris will be gone before we get news again !.

https://www.kitco.com/news/2022-07-05/Zimbabwe-to-introduce-gold-coins-as-local-currency-tumbles.html

At least we have a ready market for our gold next door.

Or buy more !. I am loathe to do so but there are decent assets (we hope) underpinning current valuations and potentially a big cherry on top with Ascot etc.

As AA previously owned BR, I would hope their due diligence won't take too long and possibly be happening off record already. But copper and metals are on a downward trend. I expect at least a short term bounce but going forward this article shows the risks https://www.express.co.uk/news/world/1634224/china-economy-news-crash-deflation-recession-world-threat-vn
Maintaining a strong cash balance will be critical in such an environment. This will only be achieved by gold revenues, principally Fair Bride next year and beyond. Scratch marginal mining operations and new "game changer" exploration projects in the current economic environment ?????. Even the big boys like Glencore were dumping assets in 2009, markets can be cruel.

Can I add my thanks to Deus and co for their AGM writes up. It was good to see the climate protestors had more confidence in the project going ahead than us long termers. We are probably the only oil and gas company that paid them to be there !!.

I will hang on and hope to be able to buy at 3.5p following Ricks advice. I think copper is near a low or getting close.
I also noted the point about Manica production being 5 years, then 3 years, looking to extend it .................. . I felt the annual report for AFP was far superior and professional despite mixing up his Companies (I assume). He probably wrote the XTR report after. I agree paying lots of money for a new CEO wouldn't help. Do we need more projects above what we currently have ?. There seem to be good people on the ground, I have faith in their abilities. But probably best not to listen to podcasts anymore other than for fun and rely on Empress for the factual information.

Will be interesting to see if copper bounces off these levels.

Guess so !!. Just hope we don't send our drilling rigs to Scandinavia by mistake. Looks good enough but will remain in the bottom drawer.

"As a mining exploration company with future operations based in Scandinavia" ?

Agree, this discussion has been done to death. It is true about the placing but in one of Colin's podcasts he also said a higher shareprice would help when it came to negotiations over BR. When it comes to reinterpreting the geology and negotiations I am in the "patience" camp. But if Colin is correct in what he said, a bit more effort since March would have been justified. Empress found something to shout about regarding Manica etc etc.

Latest time and date for splitting Application Forms (to satisfy bona fide market claims in relation to Open Offer Entitlements only)...............................................................

3.00 p.m. on 30 June 2022

Latest time and date for receipt of completed Application Forms and payment in full from Qualifying Shareholders under the Open Offer or settlement of the relevant CREST instructions (as appropriate)................................................

11.00 a.m. on 4 July 2022

Results of the Open Offer expected to be announced through a Regulatory Information Service.........................................

5 July 2022

Second Admission and commencement of dealings in the Open Offer Shares on AIM expected to commence............

8.00 a.m. on 6 July 2022

Expected date for CREST accounts to be credited with the Open Offer Shares and Open Offer Warrants in uncertificated form..................................................................................

As soon as practicable after 8.00 a.m. on 6 July 2022

Expected date for dispatch of definitive certificates in respect of the Open Offer Shares and Open Offer Warrants to be issued in certificated form..........................................

By 21 July 2022

Great post Steve. Colin led everyone up the garden path and then abandoned them. For sure it might be for good reasons. But updating people with drill locations, surveys etc was within his grasp and wouldn't have caused an issue with negotiations.
By not providing news people think the worse, detractors take over with their 3.5p predictions (and might be right) and people are scared to invest.

A 2 million trade at the end. Someone is showing interest.

You are probably right but compared to the rest of the market I will happily take a bit of blue. One day ...............

Colin's last RNS on Manica was very underwhelming. Previously he had planned to sell the license. It has caused him a lot of hassle, we are only part owner and in my opinion Colin is happier elsewhere such as Zambia and exploration. Could it be that he is looking to sell out to fund further BR exploration/take on new projects ie Zambia ?.

A lot of very good posts for "no posts".
Personally I think Colin loves doing deals but is less interested in execution. As long as he hands back the cash when BR is sold and hopefully at a substantial profit I will be fine with the "delays".

Thanks for sharing that. Some good long term graphs. Will be interesting to see how low copper etc goes. I am still expecting recession in 2023 but obviously copper could bottom earlier. I agree in a bear market having cash is critical. I was hit very badly in 2008/9. Dilution and warrants are the destroyer of PI's. Hopefully we will soon hear about the £5.2.

Wouldn't the long term plan be to develop an underground mine ?

http://portergeo.com.au/database/mineinfo.asp?mineid=mn228

With thanks to FunkySausage and Minor Miner on the GLR site, some might find the above useful for Cadia on a quiet day.

I think Colin has nodded off in his rockin chair. An extremely uninspiring RNS yesterday with XTR and no update here. In the current market news seems to make little difference but it would still be nice to know what is happening. It is not all about finding the next "game changing" deal. Executing current ones is important and the cash from Glenover is significant.