Member Info for Gixxer-600

£88.88k - That would be some personal tax bill!

'2 weeks' - We'll be lucky of it's 2 months RT

Colin states, in the removed portion of the presentation, that AA can come to us:

If they write to us [AA] and say 'we want to exercise our option and this is what we think it's worth - We've got 5 days to accept that - If we don't accept it - then that's them now thrown their hat in the ring - If we don't accept it we've gotta go to a expert opinion - That expert, I think he's got about (if think he says 6 days) not a long time - The expert has gotta say what he thinks it's worth.'

Goes on to talk about capital being $1.5-2m and discusses the ValMin method

Hi Howezap. Let's put it this way. When I first became invested in XTR the MCap, as I recall, was around £45m - Back then we were promised a transformational company with openness and transparity.

Many years later we find ourselves, more or less, with the same MCap however, for those long term investors we've seen constant painful dilution so that CB can pay for these projects he's picked up along the way. As I posted the other day, years later, we still wait for meaningful income from them and most are years behind schedule. Yes, companies have to remain fluid and must make changes from time-to-time but the consistency with which Bird picks up these projects, informs shareholders they'll be generating income and fails to deliver is astonishing IMO.

One could say the same pattern is emerging with BR - Loads of company info early on and then it fades, as it did with all the others. (if you go back far enough I made a statement that I hope this didn't happen again) The difference I see at BR is that the Aussie boys are running the show and doing a fantastic job of progressing it, they are the only reason I'm still invested here....

Andrew - I'll listen to the presentation again later to confirm however, the following is what I posted some months back:

Some, previously posted, comments from the removed portion of the presentation:
RE: Copper14 Oct 2021 20:49
Some dialogue from CB:
- 'geophysics in the SE is far better than Racecourse'
- it's much bigger than anyone could have imagined'
- Can honestly say, as we stand, this lot here (current open pit drill zone) puts xtr on a world class scale'
- The only thing he ca say with certainty 'we've got a big un'
- 'will it ever be a mine, will it trigger the AA option, yes'

I have a copy of the recording Andrew, he circles RC with his laser pointer and does state it's a T1 asset and that it will trigger the AA clause. - I'd post it but the author has asked that it not be (it was recorded on a mobile).

I feel, if we don't hit 2MT, he will cover himself by saying that the decision to mine and 2MT target are one and the same - As he has done really. (Or that it was just a misunderstanding :) )

Fair enough Ella10 however, experience tells me to take what he says with a sack of salt...

Or just run the numbers for yourself, we need quite some volume to hit 2MT with an av grade of .3 .

Perhaps I'm just plain wrong and Bird is holding back some juicy grades at RC - We'll know either way in the next 6-8 weeks!

IMO - Bird has opened up the 'decision to mine' clause as, despite all his claims early on, he realises we are not going to meet the 2MT with RC alone. The grades we have gotten of late, whilst still commercial, certainly drop us away from the .44 average AA had gotten. yes the volume has increased hugely however, my thinking now is it will be more like ~1.6MT-1.8MT with an average of ~.3.

In my 7 year experience dealing with Bird's ways there's only one reason he holds back on news and it's never because it's good. He's backtracked on plans a few times in the past like it was his plan all along.

Saying that, just because AA won't be interested in buy an asset <2MT I'm sure quite a few others will be.

And now we drop cause we don't get a Thursday RNS.....

I know everyone has personal reasons for selling but I's like to know who is bailing in big numbers? - Has been happening for quite a few months now...

"The chemistry was so different, I feel confident to call it another porphyry, because it looks to be more gold than copper."

That really will have the big companies chomping at the bit to buy - One open pit with a **** ton of copper, and right next to it , and another open pit with a **** ton of gold.....

Interesting CB mentioned that AA are 'not the preferred buyer' in his opening talk yesterday. Discussions being held with other companies?!

I missed that Monty - Good ears!

I also note he backed up Andy with a 3km length comment :)

Well, at the edge of a porphyry system, they actually are quite exciting. At the other edge ~1.6km away they will probably be even more exciting!

Copper still commercial even at the edge of the resource

AA have 10 days to decide if they want the licences once the 2mt/ decision to mine is declared.

J1- There's nothing like that in the vid I have.

The 8min recording was taken by one of the Sunday Roast Boys, It's still on their XTR Telegram forum for anyone who wants to listen.

'I had wondered if Colin was posturing for Anglos benefit to let them know there are other majors showing interest.'

Howezap, he, sort of, inferred BHP et al were interested in the cut part of the investor meeting.

CB: 'If I believe what I'm saying [referring to Racecourse being Teir-1] and BHP are saying what I'm saying, probably not quite as bullish as they have to watch themselves, Anglo are saying it, Rio are saying it. Are they going to sit around and wait forever? '

Based on what he said I assume he's already had informal chats with a few interested parties.

£1.4bn - That should about cover the buy-out.... :P

Further to my last post - I guess most of the team will be pretty well off after the sale, they may be done with looking at core samples for life! :)