Member Info for Gixxer-600

5 years ago Bird was very, very pleased with 'progress at manica'

https://www.proactiveinvestors.co.uk/companies/news/306638/xtract-very-very-pleased-with-progress-at-manica-6638.html

Bird wanted alluvial's 'out of the way' to progress with a mine by end of 2017 - How's that going Mr.Bird?

Back in 8 December 2020

'The Company's current focus is to progress the Manica hard rock operations.'

The Fair Bride hard rock open pit project continues to progress on all fronts with the tailings dam in construction, plant earthworks in progress and heavy plant being completed in South Africa.

Overall, we expect consistent gold production in December, advancing in January with a target for Fair Bride production being towards the latter part of the first half of 2021."

I'd hate to see how long it takes when the company is NOT focused.....What's going on here?

Even further back, 25 August 2020, supposedly they'd begun work on an adit....

Longhau to commence adit mining and initial underground development during the processing build phase

I find it extremely hard to believe they have not been pulling gold out of Boa which leads me to think the results are disappointing and not what, once again, Bird was predicting!

You really need to sort your s**t out and provide a detailed update Bird, it's a damn poor show from you. - Do you have any respect at all for shareholders??

Update on hard rock progression long overdue now:

25 August 2020

Additional Manica Gold Hard Rock Mining Agreement

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce that the Company's wholly-owned Mozambican subsidiary, Explorator Limitada ("Explorator") has concluded an additional mining contractor agreement ("Boa Esperanza Agreement") with Longhau Tianci Mining Co Ltd ("Longhau" or "Contract Miner") for the exploitation of the Boa Esperanza hard rock gold deposit at its Manica mining concession in Mozambique.

Longhau to commence adit mining and initial underground development during the processing build phase

8 October 2020

Manica Hard Rock Project Update

Highlights


Processing plant

· Large part of bulk cut and fill works already undertaken, with Tayanna, a leading construction and open cast mining company, locally based in Mozambique to complete final trim

· Onsite process plant activities to commence next on completion of pre-establishment work

· Initial focus on civil concrete installations to allow for the arrival and placement on civils where possible of equipment fabricated in South Africa

· Other works to commence in the coming weeks include crusher feed refurbishment, cone crusher work and mill rectification works including lubrication system and liquid resister starter connection.

Surely we should be getting insight in terms of gold production from the satellite mines by now - And still no mention of plant transfer from SA.

If it's fair value why would you refuse?

I imagine also there is a possibility to get more than one company to do the valuation.

Who buys car insurance off the back of one quote.....

I've listened to it a few times now, I too feel much more relaxed. It's been shabby seeing the sp drop so much, I've stopped looking at my shares account, but these two Aussie boys seem switched on. I'm back to holding for a potential buy-out but hopefully news becomes more regular which allows holders to make buying/selling decision's based on pragmatic info.

Bird didn't look too well, he often really fecking winds me up but take care old boy!

Aye, even I was happy with that! - To the point and, seemingly, no BS.

Good call on the RNS Ella.

I'll have a quid on a Friday, after hrs, RNS

Yes, yes, we all know how many shares CB has. I, personally, believe CB is long past worrying about making more money.

IMO he wants to leave a legacy that he had more than one big discovery. The question is, what sort of risks is he taking with our hard earned in order to find one.

Based on the information we had at the time assays for one drill, I though it was too a bit early to be grabbing cash and jumping into P2 - What does CB know that we don't?? Are the results **** & he's taken a punt with our money before the results are out and the SP drops too low to raise? - Or does he know they are commercial and wants to crack on, if the latter, then why is the market not in the know....

'I just don’t believe he’s that stupid. Well, I hope not !' - Ditto A4444

By far my greatest annoyance regarding Bird's 'management style' is that he consistently provides statements to the market regarding timelines which are rarely ever met - The man just fails to learn from this. Does he just forget? - Not really consider the fallout of what he says - or is he just a complete idiot....

It's four months, Friday, since H2 was completed - The turnaround for H1 (hole completion to assay release was 8 weeks) so based on that time line we should have the results from H6 on June 1st.

Perhaps we get the complete picture on Friday after hrs so the market has a long weekend to mull over results.

It's really a poor show CB, I'd thought you'd changed your ways......

Ella - I emailed the NOMAD last week, no response yet....

Adding to that it, based on the RNS - dated 5th Feb, you would expect H2 assays to be at least commercial. >0.15

· Visible copper mineralisation extended over a considerably greater width than originally anticipated, resulting in the hole running about 150m beyond its planned depth.

I really have no idea why a four month delay and no explanation for it...It's pretty annoying tho.

I'm not really feeling the assay's being delayed due to backlog - There were no big delay's with H1 so why the rest?

IF negotiations were underway then why release IP data?

More 'gold-centric' but still interesting:

https://www.mining.com/web/how-to-spot-buyout-clues-in-todays-resource-market/

We believe that suitors will be seeking to fill holes in their future production profile with assets that are aligned with their comparative technical advantages in mining, processing or in permitting and financing. The asset location will also be an important factor as manageable jurisdictions will garner premiums in this market,” he says.

“Right now any asset that can become the next low-cost producer is an acquisition target,” according to Lin. “But the asset has to make sense.”

Location, Location
Being located next door to a midtier or a major looking to grow can also weigh in the favor of a junior that could help to expand and replace ounces for a producer, according to the deal-watchers. “Many deals are obviously project dependent,” Lin says. “If you are mining next to a major mine, it could be a good takeover target. That also happens during a boom in the market. The major wants to develop the mine and then it wants to buy out all the other small mines around it.

Great point TBiY :) - Revised:

Here are six of the most expensive fruits that can be found in the entire world:
Bird's Bush Pear - $10,000,000
Lost Gardens of Heligan Pineapple – Up to $15,000. ...
Ruby Roman Grapes- $1400. ...
Yubari King Melon – $10,000. ...
Square Watermelon – $800. ...
Densuke Watermelon – $6,000.

I'd had to google it, uncultured heathen that I am.

Here are five of the most expensive fruits that can be found in the entire world:
Lost Gardens of Heligan Pineapple – Up to $15,000. ...
Ruby Roman Grapes- $1400. ...
Yubari King Melon – $10,000. ...
Square Watermelon – $800. ...
Densuke Watermelon – $6,000.

@theiceberg - Perhaps you should look back longer than a few months on this BB!

A4444 - <2% would indeed feel like the time spent invested here has not been worth it.

MY personal calcs are based on 3.25%

Well said LW - There's a few on here who seem to think CB can do no wrong, despite being here long enough to know what's gone on.

We all know CB is a reader of this BB - I wonder if he is a poster too?!

I'm sort of thinking the same A4444 - It would be ridiculous to carry out such a large dilution to fund a P2 drilling campaign if the results from P1 were showing Bushranger might not be commercial (or at least not big enough to attract a major).

Trouble is, for me, this is CB we are talking about and for sure Bushranger will be his 'swan-song' - Has he taken a gamble with shareholders money in the hope he can show his last big strike was not a one-hit-wonder...