Member Info for Gixxer-600

Wasn't the new bloke, I forget his name, bought on board to to just that L250? - He seems to be very quiet after the disastrous first interview . I hope we're not paying him to do feck all...

is he still bashing us?

I think he's best ignored TBH. He's just salty as there are far better, online, share tip outlets starting up. He , and his crappy outfit, will fade into the either soon enough.....

L250 - I was invested in a company a few years back, Mariana, they listed on the Auz market stating that the Auz investor was better informed in terms of mining investments. Seemed a fairly straightforward process but didn't really have much affect on the SP. Mariana's asset was in Turkey though, so Bushranger may

Seems a bit of a pointless RNS, apart from the fact it highlights drilling had not started when predicted by the proceeding RNS:

Wed, 2nd Dec 2020 07:00
("Xtract" or the "Company") is pleased to announce that it has received all required governmental approvals in order to proceed with its maiden, Phase One, drilling programme on the Bushranger copper-gold exploration project located in the Lachlan Fold Belt ("LFB"), New South Wales, Australia's only world-class copper-gold province. Drilling on the Bushranger Project is scheduled to commence during the first week of December 2020.

Wed, 16th Dec 2020 07:00
The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce that it has commenced the Phase One drilling programme on the Bushranger copper-gold exploration project located in the Lachlan Fold Belt,New South Wales, Australia's only world-class copper-gold province.

OK - Only a week out, which is amazing for Bird, but does this delay mean the more important deadline of the 24thDec (Drill results) will not be met?!

Will be interesting to see which way the SP goes leading up to the 24th (Bird's prediction for initial drill results) - a leak in news could mean big buys (or sells)

By my reckoning if he meets the 24th it will be only the 2nd time since he took over that he met a target. (saying that it's probably not down to him. (The drill team & assessors)

That's not the way I read it L250. I see it as uncovering more BS (sorry misunderstandings) from Bird:

"hard rock access mining commencing." - He mentioned in an interview, with Zac Mir back in Aug (19th) that the contractors was moving onsite to commence work on the adit (access shaft) . Now he states, almost four months later, access mining is about to commence?! I'd expected an RNS stating dore bars had already been produced by now.

"heavy plant being completed in South Africa" - So it was never ready to be shipped when he mentioned so months ago, it's still not completed according his statement......His statement RNS 25th Aug 2020: "and we are confident that border restrictions will be lifted to allow the importing of machinery from South Africa to Mozambique." Nothing to do with C19 then.

You just cannot believe a word that comes out of his mouth.

I agree BBA - The news is OK, should we not expect the company to do what it says it will....ON time. We've seen this from Bird before however, he gets keen on a new play project and we get a flurry of news. We've also seen (Zambia copper plays) they seem to disappear off the radar when he gets bored.

I still await news that the company is actually making money and not spending it......

CE: "We do not discuss anything that is not already in the public domain "

Your previous statement "I have spoken to Colin, and I think you may be in for a bit of a surprise" could lead readers to think otherwise.......

CE - What do you mean when bird took over? - Bird has always been apart of the BoD in this company and, as such, was culpable for all that went on!

do you really believe he had no part in the course the BoD chose to take prior to Nelson leaving? I've had conversations with JN and let me tell you he paints a different story.....

A group of us tried to get rid of Bird a few years ago, I think we were up to 15% of the total share holding (I was even contacted by someone from Nexus). I'd written a letter, I still have it somewhere, of no confidence to the BoD, I tried and tried to get hold of the Bird and the BoD with no joy. I'd planned to publish the letter of no confidence as an open letter in a notable shares magazine but they got cold feet.

Remember, the BOD work for us shareholders! - The problem I see now is that the huge dilution has softened the voice of disgruntled shareholders + Bird has these Aussie boys on board, they have real voting power and are probably not aware of how bad Birds record on delivery is here.

I'd be happy to dig this letter out with enough backing!

Seems Tayanna were used for the Alluvials:

Xtract Gold Mine
Tayanna were the principle mining contractor on the Manica Green Fields Project for Phase 1 of 4 of the Alluvial Gold Mining project.

Commencement Date: August 2016
Duration: 10 year project for the life of the mine
Contract Value: US $2.7 million

http://www.tayanna.co.mz/current-projects/

Further to that. We were being told in Aug that they were working on the tailings dam and yet in an RNS dated 8th Oct were being told that MMP is in the process of signing a deal to have the work done by a 3rd party:

"Tailings dam

· Tailings construction contract agreed with Tayanna with dam construction to commence within 7 days of signing the agreement

· Tayanna have commenced mobilising earth moving equipment to site to optimise construction time and to commence clearing and topsoil removal as soon as possible"

Has this deal even been signed yet?

A4444 - IMO Bird rarely provides a 'full and honest update' which is one of the main reasons the SP is not recovering from all time lows.
In terms of the latest 'misunderstanding' I quote from a recent interview:

"that project [FB] should have been going now but it's been delayed because of corona virus. Shouldn't have been delayed other than the fact that some of the biggest parts, long lead items are down in SA. SA has had a nasty bout of corona virus, as you know, and that has locked up the materials and locked up the equipment. But you know we haven't let the grass grow under our feet there's been work on tailings dams, work on foundations" goes on to say we're 4-5 months from production (2-3 now I assume)

Ref :V@xMarkets Aug-25-2020 - v@x/media/5f44f9209f98da001bbc4b20/?context=/listings/LON/XTR

From sharetalk interview Oct-18-2020.

I'd like if I may take this opportunity to erm....I'm going to blame myself here Zac I've probably presented a misconception, the misconception is we're ready erm... but all of those big pieces of plant and the tower crane are down in SA. Erm....That doesn't really explain the situation properly." [Goes on about our %] "put yourself in the position [of MMP] would you be building a whopping tailings dam and spending all the cash to do it, would you be doing a big pre-strip of a new open pit. both of these situations are cash consuming and their won't be much change out of $5e6. so I guess they were waiting for the border to open.

So, to me there a clear indication we've been lied to by Bird; Explicitly:

- "But you know we haven't let the grass grow under our feet there's been work on tailings dams, work on foundations"

- "put yourself in the position [of MMP] would you be building a whopping tailings dam and spending all the cash to do it, would you be doing a big pre-strip of a new open pit. both of these situations are cash consuming and their won't be much change out of $5e6. so I guess they were waiting for the border to open."

Now, aside from Bird 'misleading' us and blaming C19 what doesn't add up is what MMP have been doing since the deal was struck. From my post (dated 9Nov) quoting an RNS " "commence construction (as demonstrated by the placement of an order for the CIL), as soon as possible but in any event no later than 1 November 2019". According to that MMP should have already been making preparations for the equipment to arrive? In fact they had, at least, four months prior to lockdown......

A web-cam would be ace....

Agreed, remember when we were promised 'openness and transparency', care was to be taken with share holder money and no large risks after the Nelson/Bird Debacle.

Perhaps there was a misunderstanding there too eh Colin?

*Sighs

So, those that invested during any of those timelines below, assuming the worst of it was over, are 'Clueless'? (you may be included in that when Bird moves on to his next purchase. (he has alluded to this in recent interviews)

'Invested at the wrong stage' Anyone who ever invested in any share must have pre-supposed it was the correct time ofc, one of the most brainless comments I ever read on this BB - Moved from clueless to idiot.

PG, if you'd been following XTR/Bird for any amount of time you'd know that Bird has a passion for taking on new projects but quickly loses interest with them. Forgive me if I take his latest passion with a pinch of salt.

You seem new here so I'll provide you some background:

Cheipca - Lost us (shareholders) millions in dilution/plant expenses (I have no idea what happened to the brand new, $1e6, plant we ordered from SA) (OK, a Nelson/Bird project abandoned ~2016)

Manica - Deal struck 2016, ~7yr mine life. We still await meaningful income. Further details below:

Manica Alluvials - Initials deals done with Nexus, Omnia Mining Ltd and Moz Gold Group Limitida. Nexus bailed on us and proceeded to sue (no idea what happened with that but I assume we paid them off ~100k). Omnia & Moz also bailed on us too despite penalties and a termination clause. Yes we were up and running but revenue is nowhere near what Bird predicted, not to mention the losses incurred when he lent Moz Gold ~$700k RNS Ref "The Company has agreed today to loan a total of US$700,000 to Moz to be drawn down in two separate tranches, with an interest rate of 30% per annum." (yes, we kept their plant but it's rusting away and essentially worthless (according to Bird)). Seeming no action was taken against Omnia.

Manica HR (Other than FB) - Deal done with Omnia. Feasibility and development should have been completed in 2018, we are still waiting for income stream.

Manica HR (FB) - Deal struck with MMP From RNS: "commence construction (as demonstrated by the placement of an order for the CIL), as soon as possible but in any event no later than 1 November 2019".
C19 was to blame for plant not getting across the border however, we found out recently from Bird that there may have been a 'misunderstanding' on his part. Basically the work had not been completed (started?) so the plant has yet to be shipped.

Kalengwa - More dilution to pay for this. Looked good on paper and should have been up and running right away, "with an annual production target rate of 6,000 tonnes of copper metal.", but were now 18 months down the road and it appears to have disappeared off Birds radar.

Eureka - Deal struck mid 2019 with more dilution to shareholders. Again lots of talk from Bird that he could get this "up and running quickly". I believe they are still drilling.

Bushranger - Massive dilution to shareholders. Drilling to start in a matter of weeks according to Bird.

so there we have it, lots of seemingly good deals done under Birds tenure but still not enough income to break even.

Perhaps you should look into a company and it's managements efforts a little more before you berate long suffering shareholders....Clueless!

If anything is going to spike the SP it would be Bird announcing his retirement!

I do hope you're right A4444.

The problem here with XTR/Bird is that Bird has waffled on to the market, for years now, about doing this and that and bringing 'share holder value'.

Unfortunately the facts are that all he's actually done to date is dilute us again and again and again. Missed his deliverables again and again and again. IMO, the market are sick of it (I certainly am) and await delivery of projects.....

My concern here is that Bird/XTR have such a bad track record in terms of poor performance that this will never re-rate, or at least not to where we hope it will. I hope I am wrong!
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