Member Info for Gixxer-600

I've been thinking that myself of late LW - The deal was struck almost 18months ago and it appears it was just another deal that excited Bird which he's now lost interest with....How long before he gets bored of Bushranger?!

From the RNS:
· Xtract intends to commence a simple ore sorting programme, building up to a more significant ore processing operation within the next 8 months, with an annual production target rate of 6,000 tonnes of copper metal.

So, almost 18months down the road and it appears we are nowhere near a processing operation.

Another great job on this project Bird!

Borders are all open LW. My assumption, now that Bird has seemingly told the truth WRT progression at FB, is that they will wait until the foundations are in place and signed off by the Aussie project manager.

Assuming the kit has been manufactured in Cape Town, the furthest big city from Manica, it's about a 29hr journey (~2520km). Let's say 3 days max to get the kit on site it's probably better where it is as there is no point having a cane onsite if the groundwork is not ready for instillation. (unless they're are charging us for storage)

Well, if they investigate Bird's track record in terms of delivery, here, they're going to find it's pretty pi@@ poor Bb.

A fact he seems to find amusing based on his last interview!

news, with ref to your statement: 'I tried listening 3 times and not sure if it was $1m or $1 billion? It was not possible for $1m co as XTR is currently already £7m.' I believe CB was referring to monthly income. Manica HR+ Eureka should bring in $1e6pm

For those that missed the interview:

Thanks for your email, absolutely the video will be available to watch again on our UK Investor Hub on our website by the end of next week.

Blah, blah, blah 'I've been in this game a long time Zac. Blah, blah, blah 'it's all covids fault we're not on track. Blah, blah, blah 'this time next year.....'

"TW the last person I take advice from in terms of someone who "should NOT be working in financial services" - And TW should be? what a hypocrite the man is...

Just one example from Twitter:
"TW rails against Vox and Proactive for paid for and 'soft' interviews with CEOs. However ************* has recently been sponsored by OpenOrphan
. This included an interview (episode 8) and weekly 'in show endorsement' from The Sheriff."

he ramped them to 20+p and then subscribers who took Tom's "buy Big Sofa" advice will be wishing they had spent their 5.99 a month on something else as shares crashed from over 20p to today's price of around 4p . There are too many examples to share them all but classic #BST ramps include"

The 4p is now old news, the company looks like it's on it's ar@e but I'm sure TW got out with a tidy 'prophet'

IMO he's been targeting the likes of Vox and Proactive as he see them as a threat to his business.

If you navigate to the link I provided in my previous post and open the full report it provides a great overview of XTR' projects (Conclusion from the report):

Conclusion
Xtract offers investors the chance of immediate production and earnings as well as
undoubted blue-sky potential. For a small cap miner, the company does have a lot of assets.
But Xtract does not need them all to come right for the shares to trade on a far higher
valuation moving ahead. Reassuringly, the company’s strategy means that it does not need
to raise funds to get into production. That will probably come as a refreshing change as
management has been able to get projects into production and generating cash with no
spend on capex, which is always the big dilution factor.
Fundamentals seem to be getting better than ever in copper. Green technology is a heavy
user of copper, with EVs needing five times as much copper as conventional vehicles.
Interestingly enough, in response to a COVID-19 inspired economic downturn, governments
around the world have been rapidly suggesting infrastructure improvements that will all
need copper. There are real concerns about supply as copper is getting scarcer as the
average grade mined being mined continues to fall. With these sorts of compelling
fundamentals, it is indeed good news that Xtract has been out in search of copper projects
and found some real winners in Eureka, Kalengwa and Bushranger.
Xtract provides a refreshing change to the raise and dilute brigade of resources stocks as the
management have put together a portfolio of assets that can be brought swiftly into
production through innovative deals that negate with the need to fund capex. Over the next
12 -18 months, Xtract’s profit share from these operations looks like it is about undergo a
period of sustained growth which should give the company a completely different
complexion. In addition to this is the blue-sky plays which look likely to attract a lot of
attention to the stock as the market becomes more aware of copper’s true fundamentals.

Great find Groucho, and nice to see an 'official' valuation....

Source for Groucho's post:

http://www.alignresearch.co.uk/cpt-company/xtract-resources/

CB has discussed this several times in the past. Xtract had carried out due diligence with authorities and are content they are working with the legal owners.

If you check the link you will find it has been removed. (I did read it when it was up and it was the same as the other 'articles' attacking the current owners.)

I have no sympathy I'm afraid. When he took over he promised to be open and keep us informed 'Good or Bad news' He's just not done so. (apart from maybe with you CE which, whilst welcome, should come through official channels).

I understand, and take into consideration, the current issues but we've just had years and years of missed deliverables and off the cuff comments in interviews which of course leads shareholders speculating! (what else are we supposed to do? ofc they are generally negative as it's the norm with XTR) - I'd assumed we were at the end of that with the 'PR' bloke coming onboard but lets not mention his efforts to date.

OK - now I've slept on it the loan, as insurance, is maybe not a bad idea (hopefully we never need it) - I'm still Pi@@ed at more dilution especially as, based on your figures CE, '$200,000 by year end' would be enough to start the drill programmes. Especially when we've still not been officially informed that the Australian deal has been ratified, could he really not wait a couple of months and save the negativity of dilution?

CE - As I recall Omnia dropped the project as they started getting better grades on their own site. This was before the deal was dome with MMP (If I recall correctly?!)

IMO, it's not only walking away (business decision or not) but does introduce a lack of trust in a business partner , especially one you'd signed a contract with.

Another thing, Bird mentions in the interview that the Aus deal has now been ratified by Gov. (This links in with the need for funds to drill) Is that not price sensitive information though? - Should that sort of information not be disseminated via RNS?

You make a fair point UKI2 - One of the problems with this company is that it's practically impossible to contact them and get an answer to questions.

Bird could have easily covered this in this mornings interview but for some reason chose to be vague. I reiterate, why would you not mention the borders opening in an interview on the day the borders open?!

Agreed - I feel Bird is now using C19 to cover up for some mishap? - In any case, I see no reason why equipment cannot be shipped. (with the correct precautions in place)

So, I take it from the ST interview is that Bird appears oblivious to the fact that the Moz/SA border is now open....Surely any CEO would bring that up in an interview?! (Especially in an interview on the day the border opens?)

https://www.youtube.com/watch?v=L3qNQLuHPwA&ab_channel=eNCA

Surely even JDAU is getting pi@@ed off with Bird's shabby management of XTR...........

Hopefully Bird partakes in a vox interview tomorrow and this is cleared up.

"The fact that he hasn't mentioned the borders opening tomorrow or imminent shipment of equipment is a bit worrying. He has repeatedly said once SA borders opened - we're off !" - It's worrying indeed Andrew, In the TW open discussion I highlighted to CB that, at least one, Moz border was open as he seemed to have no clue.

Considering the SA border is fully open tomorrow I was expecting an RNS towards the end of next week stating that the equipment was on site!

Either he's using C19 as an excuse for equipment being held up/not ready or the RNS was written several weeks ago and has not been modified in line with recent events...