Member Info for flipper56

I agree and think that is where GLR/CB's strength lie. Also in the parts of the world he is dealing with - and in fact most places now - it only takes a visit from the local tax inspector/environmental officer/ESG protestors etc etc to upend even the best laid plans. But is there a point when, assuming we get the £5.3 cash payment just to pay out some as a special dividend or share buy back. Simply taking on ever more projects is doing nothing for the shareprice and soon the cash value will nearly match the market capitalisation. I know in his TIR investment company's outlook he mentioned that good projects are becoming harder to find. Is it worth taking on more risk just for the sake of it ?.

Probably wasn't the best thread title. But in exploration the chances of finding a mineral resource and turning into a mine are statistically low. I also want to keep Colin's feet to the fire and get that payback he has suggested, whether that be in cash or shares of a much larger company. I have increased my holding on that basis. I feel many others have done the same. I can handle a delay but what I don't want is another potential "10 bagger" in .................. . ps. I already have plenty of those and hope they do come off.

The market is currently valuing Bushranger at maybe a penny or two a share. People say it could be worth 10p a share, others say a lot more, but with the information that has been released via RNS's, we have to assume the lower estimate is the one the majority of market participants believe.
With BR sold, taxes and bonuses paid, there won't be a lot left to pay a special dividend given that XTR will want to take on more exploration on its other licenses. All of which involve more surveying, drilling etc and probably achieving nothing. Surely we have to persist with what we know as it is the only chance of a big payday. The second pit at Ascot is required to make the economics attractive ?. Thoughts anyone.

Think we have more than enough projects already. Probably too many. Would rather use some of the cash to buy back shares and clear the overhang that seems to be stalling any progress. It is too easy to just keep coming up with new projects to hide the failures elsewhere and then wonder why your share valuation is hopeless. And given that I used to own some of that nickel in Zim when it was owned by MWA (ASA) and then stolen, it is the last place I would want to go. To me Zim is just an expense and I give it zero valuation when assessing the shareprice. And that comes from bitter experience with MWA (ASA).

I certainly don't want anyone to take my comments as anything more than a light hearted joke when the market is closed. Exploration and mining is very high risk and too often a Government changes and the natives want it for themselves. I would expect the CEO to promote the project they are investing in as simply the only way they can find out if it any good is by hard work. And given copper has gone up 5% today I am still firmly in the Bird camp, at least long term. With gold doing well there are plenty of positives. But healthy debate is also important. Knowing the downside risks is probably more important than the upside potential.

I stand to be corrected but Colin bought BZT and TIR shares . Unless it has changed, TIR doesn't have XTR shares. Whereas I find this surprising ......................... there might be good reason ie insider trading etc. Taking my memory back a long way to pre CB days, I think TIR did use to own XTR shares. Them like me, proceeded to lose lots of money when the oil in Turkey disappeared just like our 2mt seems to be doing. Pray not. On Monday Colin will probably announce we have another wonderful project and never hear about Bushranger again !!

Didn't he say in one interview a strip ratio of 4.5 to 1 ?

Think I will need to relisten to those interviews this weekend. I seem to remember him talking about a depth of 600m which is shallower than I thought we were going. Plus he said about leaving it open north and south. If he is correct about the 20mt for 20 years, does that suggest at current forecast prices, the rest is simply uneconomic ?.
It does make getting Fairbride up and running important and hopefully hitting the crown at Ascot. Otherwise I could see 3.5p more likely than the 40p a share. With an interview next week I pray we have some good assay results heading our way.

Thanks. Going by the shareprice we need some love and attention. Saying that, in the current market, won't make much difference. Still think copper and gold is a safer bet than UK gilts and sterling.

One thing I did note both in this interview and a previous one with GLR a few weeks ago was that he seemed to be suffering the effects of covid ?. Feeling downbeat because you feel cr*p would be totally understandable.

But would it help the shareprice if he says we are pushing the finances to the limit and holding back on the other projects ?. Money has to be tight and until gold production picks up then it will be an issue. Clearly the geologists like what they see and if Colin feels the need to eat humble pie because we might have hit the "bonanza" then surely that is a positive or am I missing something.

JohnSwan. A well balanced review. But I am sure CB referenced a 500 - 700 mt resource in at least a couple of his podcasts. They have since extended it further north and possibly south, I would expect/hope it to be fairly close to the 2 mt. Whether AA would be interested in those grades etc is what an option is all about. My hope is that a good result at Ascot will make it the must have play that we have all been investing in. Clearly from the current shareprice we investors are clutching at straws.

Interesting to see CB has been buying BZT shares and TIR. Would have thought XTR to be good value unless he is unable to due to insider trading rules. I do note that TIR doesn't hold XTR which has surprised me given how Colin has raved about XTR. Sorry for a slight negativity when ANT has suddenly become so positive.

I think we should go easy on Colin and the team. If these calculations are correct then there is probably less reason to get stressed out than we are. Clearly there is a lot of work to be done with the modelling. And with the bonus of Ascot thrown in and potentially a very nice dessert of gold to go with our Sunday Roast.
I was surprised with the negativity yesterday but feeling a lot better today. Just can't see 2mt not being hit.

Do we have any idea of the recovery rates at Cadia etc. Until the met tests are confirmed I would guess it would be hard to infer too much.
Am I right, looking at the drill plans, to think 51 was the last hole drilled and drilling has now stopped ?. I remember with the Cadia Ridgeway report it spoke about drilling had to stop during winter due to the wet ground conditions. Hence maybe why CB has always said drilling will stop in May regardless.

Xeiger - wouldn't an RNS saying we have the 2 mt trigger the AA clause ?

I take it as a given. My assumption is the same about the 2 million target. Hence why Ascot could be a game changer - or not.

I am still waiting for JLP's Tjate to be developed. 5 years is nothing ..............

Early days but Newcrest took time with Ridgeway to find he best bits. Well done Colin and team. Good start.

I wonder if he is as keen to talk as we are to know what is going on. The lack of news does suggest something big is happening. I just hope that big hole he is talking about isn't planned for dumping garbage ...........