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I have to say I am baffled how Xtract can only be valued at circa £5m when projected free cash from Manica is expected to be $500k a month. I listened again to the paywall interviews conducted by TW mid year and Bird was very precise, $500k free cash a month from Manica and by Q4 next year another $500k free cash coming from Zambia, it was these numbers that got TW licking his lips and instigating a 'buy' note to his followers via Hot Stock.

As far as I can see nothing has changed (maybe a small Covid delay) at Manica but other than that nothing material, so why have the shares lost circa 1p in quick time?

The drop seems to be related to initial take profit advice from the tip sheet (there was 100% gain after all) the shares stabilised around the 1.6p mark and looked to be recovering before we had the 'Novum/Bellis' assault by TW. Since then the shares have slumped to 1.25p resulting in a drop of market cap of £4.5m from the recent 2.25p high.

I would imagine Bird must be fuming at the assault by TW via his paywall blog and then his Bearcast, in the summer Bird spent the best part of 6 hours providing content to TW for his 2 online 'Events' If Bird is foolish enough to place stock via Novum then he plays directly into the hands of TW, as such TW will harp and brag infinitum - delivering more negativity towards the company.

It is for the above reason I think Bird will not place stock, so far Bird has failed to respond or quell the rumours other than saying he knew of no reason why folk are selling as nothing has changed.

My view is Bird needs to break away from Novum, this association is a poor one in my considered opinion, TW has made it clear how he feels about this broker and a certain employee, why play into TW's hands therefore, get shot of them and move on to someone like SI Capital who are well regarded in the small cap space.

Let us see what happens next week, the shares look cheap, we all know how quickly sentiment turns, the RSI is also totally bombed out so from a technical perspective the shares are seriously oversold.

Good luck all.

With HSBC the process is very straight forward, send them a secure message, select the 'Corporate Action' box and then proceed with your instructions, in my case I have asked them to vote in favour of all 4 resolutions.

It really is that simple.

The stake in KAT is now valued at circa £3m whilst KIBO is valued at £4.5m having just raised £1.4m cash, it is pretty plain to see that there is some undervaluation in Kibo equity.

The float of Sloane will also add more value, let alone the much promised operational progress, of course with LC everything has to be taken with a pinch of salt.

AIM has become a traders market with fast moves and a herd mentality, now doubt Kibo will have it's day from current levels.

I believe .50p is possible just on momentum therefore.

DYOR etc

Shares are poised for a technical move higher, placing rump has been cleared into an amazing 1.3 billion shares traded since, consolidation and strong support in the .33p-34p range.

Can see a breach of .40p imminently and then .50p is within target possibly next week.

The right news could blow the above numbers away in a flash, not a share to be out of for sure, even at 1p would only equate to £56m m/cap.

DYOR etc

It is worth noting the warrants priced at .55p would give the company a further £1.3m, what is more interesting is the warrant accelerator is priced at 1.1p - it is in both the company's and market makers interest for the strike price to be reached, in the market makers case the reason being it would deliver more volume.

I am pretty convinced management feel the 1.1p warrant accelerator will come into play, it would give the warrant holders 10 days to convert, thus giving the company the £1.2m

The current share price is bargain basement therefore.

Have looked across the project portfolio and conclude the company is materially undervalued, they have a strong treasury having just raised £1.4m, lots of news-flow is ahead which is the elixir of AIM for investor interest and upside.

No wonder the shares are in demand, this is a £50m+ company at the very least, would equate to circa 1p a share, given the right news and support £100m+ is entirely possible.

A must watch presentation

https://www.youtube.com/watch?time_continue=1&v=KysCulRjFew&feature=emb_logo&ab_channel=**********

DYOR

Headline on Sh@reprohets tonight .....

BREAKING: Shareholders call GM to oust Colin Bird from Tiger Royalties

Now posted on the ORR website, they clearly believe the company is materially undervalued, the CEO talks about spectacular grades in Senegal and refers to Chesser Resources having a very significant market valuation (around $70m) but only have a fraction of the licence area of Oriole.

More news expected on asset sales and drilling to start in Cameroon shortly.

https://presentations.investormeetcompany.com/recordings/2fca2253633a?bmid=b2bd91c7086c

Good to see the AGM date and resolutions which seem pretty clear cut to me, no doubt the Action Group will give guidance but I see no reason to vote against any of them, the sooner the resolutions are passed the faster re-listing will occur.

My understanding is that once these resolutions are passed the re-listing can occur soon after because all the uncertainties have been removed.

Good news

I wonder who is actually behind MMP, Colin said, for the 1st time ever, they were backed by London based entities who have clout.

You can never rule out that $20m buyout option therefore.

I think Bird will surprise, I suspect he is angered by the 'commentary' concerning Novum and may decide to not place stock but seek alternative funding IF it is required. I am sure he has options.

The RSI is now in heavily oversold territory, a bounce is overdue.

Pleased to see the late RNS - Update re AGM Notice - expects to publish news later this week.

Good to see they are updating

I would not be surprised to see a takeover approach for Condor shortly, I think Mark Child is also aware the company is wide open for an approach. In a way MC has contributed to the situation by issuing highly dilutive and share price suppressing warrants with every fundraise.

Retail investors still hold a fair slug of the company and would probably be happy for circa £1.25p, the likes of Jim Mellon would not but he may be in the minority, in a nutshell Mark Child has been unable to get a valuation for Condor in line with peers which is why I feel some entity may bid as there is real value to be had.

Time will tell.

A little curious as to why the AGM date was not communicated on Friday as anticipated, the AGM is crucial as resolutions will be put to the vote which should enable the re-listing of the shares in mid October, if the AGM is delayed then so the re-listing.

No immediate worry on my behalf currently but if this lingers then some reason needs to be forthcoming in my view, upto now everything has happened as forecast.

'The Company currently expects to publish 2019 Annual Report and Accounts on 11 September 2020 and the notice of the forthcoming AGM, on 18 September 2020'

I have listened to the TW Bearcast today, he seems to be attacking Novum and Jon Bellis (re Tiger RNS) more than Xtract, he said he has taken profit in Xtract to buy into another company.

TW says that Colin Bird at Xtract was offered debt to tide the company over until Manica comes into production, Bird refused, he then states that because Bird refused the debt he will use Novum again in the future, note he does not say a placing is imminent, even suggests news could propel the share price higher.

TW adds (about Colin Bird) he has had enough of his addiction with discounted bucket shop placings with Novum Securities and seems annoyed that Bird deals with Jon Bellis who he called the "King of the Spivs" he calls clients of Novum "low life gutter dwelling clients from the sewers"

I find the whole matter somewhat hilarious, no mention of the potential $500k a month free cash to Xtract (from Manica) that he was licking his lips over during his Mineprophets event or the $500k+ free cash a month that could come from Zambia late next year, if attained a market value of £40m is possible verses the current £6m.

How does TW know Bird was offered debt, how does TW know Bird refused it? Surely this is price sensitive.

Colin Bird needs to tidy this up ASAP, hopefully via RNS, he said a few days ago he knows no reason for the selling, he cannot be working on a imminent placing therefore. Come on Colin defend your position.

I have bought in today, my 1st holding in KIBO since the 14p spike days !

There appear to be a number of catalysts on the horizon to deliver some upside, I believe the listing of Sloane will go well and of course there is hysteria around KAT, then add to the mix the potential for a number of operational events alluded to in the RNS.

I am a exceptionally lucky early day holder of KIBO that escaped with an actual profit having been 90% down at one time.

The photos of the road being improved are very useful, I suspect Condor management are oblivious to this being in the public domain, it could even be deemed as price sensitive (in a way) because why else improve a road to a site that has been earmarked for potential toll mining.

If the Nomad feels these photo's could give a few an advantage over others he may force a statement from Condor.

Getting harder to buy in size and the selling seems to have subsided, surprised more have not latched on, the Hot Stock mob can only take profits once and I suspect many have already done so.

According to a poster on the other site, TW is suggesting he has not sold his own personal holding, apparently he said as much in one of his paywall podcasts, well make of that what you will.

I feel a bounce coming in XTR nonetheless.

Broker coverage - target price 22p

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

A few posts on ADV$N starting to appear, will attract the investment community for certain, good news.

The results show a amazing turnaround - operating profit of nearly $9m from a $18m loss the prior year.

Very positive and upbeat commentary also - this will make a totally different valuation metric once the share start trading again, suggested in mid October.

Great news !