Member Info for HawaiifiveO

The recent drop was caused by a 7m dump at .36p on Monday, it offers folks the chance to get in near basement levels.

Until a major re-rate occurs, most likely on drilling activity, asset sale or Iamgold news from Senegal the shares are a great trading vehicle.

From current levels this has moved to .50p or even .60p quite a few times over the last 12 months.

CE hope to meet you again at some point, the world does not revolve around all things XTR after all.

Mr Bird took over Xtract on 13th September 2016 when Nelson resigned, so the fall from 3.5p in December 2016 to currently 1.1p was under his tenure after he 'saved' the company.

https://www.investegate.co.uk/xtract-resources-plc--xtr-/rns/board-change/201609131130186895J/

I have no links to TW at all, none whatsoever.

CE I think my commentary is fair and honest and aligned to most folk who post on this bulletin board and probably Xtract shareholders as a whole.

If Mr Bird has good news in the wings let us hear it via RNS, news is overdue, I will be more than delighted.

Thank you for those that have replied to my earlier posts, it is pretty clear I have lost it with Mr Bird.

There are so many 'issues' that I simply cannot be bothered to raise them all again but my historic posts will give a few of the reasons.

Mr Bird is a story teller, he fails to deliver, he paints rosy pictures , talks about blue sky, the truth is all shareholders get are grey clouds. Folk should re-visit the claims made on Vox podcasts two years ago, did any of the numbers materialise, not on your nelly.

The junior mining space is RED HOT, company valuations are surging, gains are mouth watering, in the meantime Xtract's share price remains in the gutter.

The only thing that matters is the share price of Xtract, so here we go

December 2016 it was 3.5p
December 2017 it was 3.1p
December 2018 it was 0.65p
December 2019 it was 0.95p
Today it is 1.1p

Over the 5 years Bird has promised so much but nothing has come to fruition, I do not believe him plain and simple, TW pointed to his advisors in a scathing attack, I fully concur.

For those that have not heard this longish interview with Zak Mir the link is below - it was conducted on 16th October.

https://www.youtube.com/watch?v=AxxNbFw9Fbk&ab_channel=TheUKInvestorShow

One aspect I find galling is the commentary about the placing announced on the 30th September, Bird said that he delivered a placing at market price (1.2p) seemed chuffed by this, however he fails to mention the shares were trading at 2.2p only two weeks earlier - we all know that TW was aware of a possible fundraise - it appears every man and his dog in the city knew in advance about this placing hence the rapid drop in the share price.

Again the poor sods who bought shares above 2p were shafted, it leaves a sour taste in the mouth does it not, the placing price was not a great deal for shareholders, if it had been conducted at 2p+ then fair enough.

The disconnect between market cap and projects is a result of continual missed targets and shoddy placings, that is clear.

XTR acquired Manica in the summer of 2015, five years ago, for a price of USD $12.5m, it is clear that no value has been delivered since.

Every project that this company acquires adds no value, simply delivers more dilution and fairy tale stories from management.

The link below shows the exact Manica deal...

https://tinyurl.com/y3gga2ce

I noted a post on this bulletin board that suggested Bird should do a live stream walkaround at Manica or even drone footage so shareholders can actually see what is going on at the project, not difficult to put something like this into being, hardly rocket science.

I do wonder if it is intentional to keep such images away from shareholders eyes, maybe too revealing perhaps, in the meantime based on lack of visual evidence can we expect to hear ever moving stories from Mr Bird about the goings on at Manica? Probably yes.

Moving on, does anyone watch Goldrush, it is a cult programme about a group of alluvial gold miners, some experienced, some rookies, based in Alaska, their mining season lasts about 16 weeks.

What has struck me is the level of alluvial gold they produce each WEEK, one entity regularly manages 300oz-400oz from two wash plants, another entity produces an average of 200oz per week. The method of alluvial gold extraction is exactly the same as at Manica.

Based on the above numbers quarterly production would range between 2500oz to 5000oz - one gang produced nearly 7000oz in 16 weeks last year. Now compare the miserable alluvial gold production from Manica - we are lucky to get 1000oz in a quarter of which Xtract gets circa 25%.

I have often thought when watching Goldrush why Manica declares so little alluvial gold, it does make you wonder does it not, I have doubts but you decide !

You could write a book about Xtract Resources, would feature in the Horror Stories section for certain.

Podcast commentary on AST starts at circa 45 minutes

Doc H comments on AST in a podcast released this weekend, suggests lots of upside ahead based on the right news..

https://twitter.com/StockBoxMedia/status/1332624423543771136

Something is going on, if book5 on AD$FN is correct some material news is coming.

Either toll mining deal or 100% land has been purchased or both.

Zak Mir comments on MTL today feels 3p-3.5p is back on.

https://www.share-talk.com/share-talk-bulletin-board-heroes-friday-27th-november-2020/#gs.mihow9

Lets not forget even at 2.5p equity in MTL is only worth £50m, every quarter that goes by, with gold at current levels, should enable significant debt repayments, this has not been taken into account at all IMO.

I think the next update should deliver a meaningful re-rate, this is a great entry point, the shares hit 3.5p in October, that should tell you all you need to know.

If anyone knows how many of the 31p warrants have been converted to date please advise, however we can expect to see a swathe of conversions because one tranche of 2.1m expire on 31st Jan next year and the other tranche 1.5m expire on 25th Feb next year.

There are also, at least, 3.35m warrants priced at 25p expiring on 14th July next year.

'6,730,835 warrants expiring on 14 July 2021with an exercise price of 25 pence and a validity of 3 years. 50% of these are subject to an accelerated exercise period if the closing mid-market price of the ordinary shares on AIM is more than £0.30 for 10 consecutive trading days'

There is no reference in the accounts as to how many of these outstanding warrants have been converted but clearly there is a significant headwind for the share price unless significant news comes that would drive volumes to historic levels to flush them out.

'During the year the following warrants were issued as part of share subscriptions: 2,083,331 and 1,562,000 warrants expiring on 31 January and 25 February, 2021 respectively, each with an exercise price of 31p'
and a validity of 2 years.

The large sells are almost certainly 31p warrant holders converting and selling for 40p-44p

Does anyone seriously believe Colin Bird will deliver any shareholder value at Xtract ?

Bird has been 'in charge' since Nelson resigned for 'personal reasons' on 13th September 2016, Bird admitted he took his eye of the ball which resulted in heinous shareholder value destruction, failure of duty, no doubt caused by his numerous directorships with his eye on more footballs than would be present on a training ground.

https://www.investegate.co.uk/xtract-resources-plc--xtr-/rns/board-change/201609131130186895J/

OK Bird may have saved the company by reorganising the debt he allowed Nelson to build up by getting shot of the death spiral financier and handing out shares to creditors and raising cash via yet another placing. That was his duty surely.

Since the above he has delivered nothing but false hopes, missed targets, numerous equity dilutions, strange deals with various contractors that have, in the main, delivered nothing. After the capital reorganisation in May 2017 there were 175m shares in issue, the share count now is 620m.

So Bird has been in power coming up 4.5 years, he has delivered nothing material in all that time, so, I ask, does anyone really expect anything meaningful over the next 4 weeks to year end ?

Bird needs to hand the reigns over to motivated and dynamic CEO, pity Leon is not running Xtract.

The recent coverage from Align refers to Slovenia dispute resolutions and appears to underline, quite definitely, the possibility Ascent will benefit from a settlement in one form or another.

I am quite convinced AST management preferred option would be a cash settlement with the possibility of them exiting the project via a sale to their partner of some other local entity.

At 5.5p a share, with 89m shares issued, Ascent is only valued at £4.9m - the damages claim almost certainly amounts to £45m (would equate to 50p a share) it is clear there in nothing in the price for a monetary resolution or amicable settlement.

No wonder Align believe 18p is attainable, the shares look cheap + are exceptional hard to buy is size, you need to be in it to win here IMO.

http://www.alignresearch.co.uk/ascent-resources/ascent-resources-bit-claim-slovenia-seems-keen-settle-cases/

Something really put TW off Xtract, remember he has a web of contacts, yes he hates Novum, a certain Novum employee, has attacked Sanderson historically but was there something else he gleaned ?

The question is who are MMP, when the initial deal was announced I did a search and found their address to be in some gated residential development more suited to holiday accommodation, I did not think anything of it but am now wondering, there are no details of directors and the photos on the website are going back to 2011, the website has not been updated for an age either.

http://mutapamining.com/

In an interview with Zak Mir earlier this year Bird leaked out that Mutapa were a consortium of financiers/business folk based in London, as ever with everything XTR the matter is unclear.

I have stated in an earlier post that I will never invest in any Colin Bird controlled company again, I am sick to the teeth of all the inconsistencies, delays, dilutions and jam tomorrow promises - not forgetting what TW said about the city advisors.

I suspect there are issues concerning the hard rock well beyond COVID, I also suspect that the supposed increasing revenues are yet another pipe dream, in fact I would not be surprised if the proposed $1m a month free cash from Zambia and Mozambique comes to zero by this time next year.

Who knows about Bushranger, I re-iterate if the deal was so good then why has the share price tanked and not surged like UFO, for example, they acquired a Copper/Gold project in October, their shares multi-bagged.

Thankfully I do not have a large position in Xtract, my patience has come to an end having waited 3 years for Bird to deliver some value, is it ever going to happen, probably not.

I hope I am wrong !!

One wonders how long can ORR remain independent given they are surrounded by majors.

https://www.aljazeera.com/economy/2020/11/16/endeavour-mining-to-acquire-teranga-gold-in-2bn-all-share-deal

MTSparky

I don't think PXC needs much pumping, it simply fits my investment criteria - undervalued !

The drop from mid 60p's was on low volume, nothing material company wise to warrant it, on the contrary in fact, the RSI is bombed out meaning the shares are oversold, material news is imminent, commodity prices are high + the company are closing in on production & revenues, the shares are also tightly held.

I have seen some well thought out share price projections both here and ADV$N north of £1, that's why I am here in a nutshell.

No doubt ahead of news, seems to be quite a lot of news-flow upcoming.

The shares hit 54p in late October, looks a great entry point.

Tim going to Cameroon could result in the award of the 8 new licences, the question then remains how will activity on this huge land mass be funded, appreciate it will not be a short term spend but nonetheless questions need to be asked about prospective forward dilution.

Another aspect I find troublesome is despite Oriole being slap bang in the middle of 50m oz gold region the prospective value has not been passed into the market value of the company, I think this is entirely down to the JV with Iamgold, Chesser Resources have a A$100m valuation (it was A$7m earlier this year) but they are in control as they own 100% of their licence and can throw money at it quickly and deliver results.

When you look at Oriole from afar and summarise they have done very little from a operational front this year, next year will be all action.