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https://audioboom.com/posts/7421911-wey-education-zoetic-international-xtract-resources-and-alan-green

A certain feathered friend suggested BZT was going places !

Anyone who has had conversations with Colin Bird will know how hard it is to get straight answers to even the most simple questions - this is not because he tries to avoid or hide the truth but simply because he tends to ramble on and gets sidetracked into other areas - for example one moment he can be talking about Mozambique and then divert to South Africa or some project he was involved with 30 years ago - in a nutshell it is extremely frustrating.

I have decided to 'ignore' the alluvial situation, clearly the numbers were not as expected back in the early times when Colin anticipated 4 contractors and suggested meaningful income, despite this we must be thankful for what we do get, there is no risk to XTR shareholders and the money serves some purpose in covering some G&A costs.

Most shareholders are here for Manica Hard Rock, last Thursday (in the small amount of time I had with him) he simply suggested there was a lot going on at Manica - that was all he said, he then diverted to Zambia - he is exceptionally excited about Zambia.

What is worthy of comment this statement today ....

"We have reviewed our management structure and are making several changes to meet the requirements of the Company's aggressive production development and new exploration targets in Zambia."

Does this mean he is bringing in new management, is he now going to hand the reigns over to someone more focused, a new CEO maybe.

Also of note is that Xtract are using a new PR outlet, this may become apparent shortly, there appears to be something going on behind the scenes, also the 14% stake taken by Sanderson Capital - one assumes in the last placing at 1.2p - why Xtract now ?

I have to say I am very surprised by the share price decline, it started as soon as they announced they would be issuing shares in respect of the payment of £160k to KPZ International Ltd - are these being forward sold I wonder ??

Lots to discuss as ever.

Nothing available on-line currently, I still think stock is being acquired by an entity for a reason, the early mark up suggests there is still demand which the market makers are struggling with.

I am convinced the next update will include news on the debt re-structure - this could explain the delay, usually this company have been very reliable with news and has openly commented about how essential it is to update it's shareholders.

It is worth noting that Iamgold Corp reported it's Q3 numbers last week with an average gold price over $1480oz

The gold price move has been exceptionally beneficial to MTL and will add strength to the debt discussions.

There are still buyers mopping up any loose stock, would still not rule out some form of offer to the minority shareholders who remain.

Had a brief chat with Colin Bird last night he said there was a lot going on on the ground at Manica - another investor asked him about what was the future would be like for Xtract, Colin's reply was very good indeed.

The evening was primarily for Jubilee and Colin is not the easiest fellow to pin down, I asked him about the alluvials - he commented that last month was a good month so it does look like they are moving in the right direction.

I concluded from the short time he spoke about Xtract that all was well - interestingly Xtract is now being promoted by Zak Mir (as well as others) so expect some new podcast coverage shortly.

I suspect there is some news to come before the Xmas break.

I managed to get to Colin last night , it was not easy as he was surrounded by many investors concerning Jubilee, it was also his birthday, he had his family present.

In respect of GLR......

The small scale mining licence has been applied for, he did not say when the application went in but he did say it takes no more than 90 days, he considered this a formality.

He re-iterated that everything is on track in respect of the production timetable as per the podcast.

The Jubilee zinc circuit is on track, again no expected delays.

No problems concerning sub contractors.

Colin is exceptionally enthusiastic concerning Zambia, mentioning the massive resource base in the country.

It was not possible to speak with him about GLR's other projects, he did not hang around very long but I am very pleased to hear that everything is on track and the timelines have not slipped.

I have a feeling we may get some news shortly concerning GLR, we may be further pleasantly surprised, Colin seemed very positive about GLR's prospects.

Hope the above assists, no advice is intended but I will be adding to my position shortly.

LC81

I would like to see your workings out in simple format on how Riverfort can make 300% on the funding deal.

You are assuming the share price will stay the same as it is now which is unlikely but please show us how nonetheless.

Just curious.

It is true that the lower the share price goes the less Ascent will get by way of cash from Riverfort over 12 months . Castro said that AST had already received $500k via the loan element, separate from the 12 equal payment deal.

Can it be that Ascent do not care about how much they receive via the 12 month equity deal because the company is going to morphed into another company or sold - if this occurs it matters not what the share price is now as a sale price may already be agreed.

I further deduce, having listened to the CC again, that they talk about potentially re-entering old wells and finding new shallow targets, they have no money to do this and, once again, it suggests the company may be sold or bring in a significant JV partner possibly taking an equity stake.

JB said that this is a dynamic period for Ascent and pleaded for patience - my bet is a deal is being cooked. My view, if your brave average down if your a newbie a great chance to see upside from current levels.

Thanks folks I will do my best in the short space of time I suspect I will get with CB after the presentation and report back, one question I can ask on the floor is regarding the JLP Zinc circuit as it is JLP that are presenting.

What we really want to know is everything on track to meet the timelines and revenues CB told us about in the summer podcasts.

I am very surprised the share price has fallen so quickly, it is not in Riverforts interest to see it going down like a ski slope as they need volume to operate, no-one will buy without some uptrend appears.

I suspect they will cease selling for a while to encourage retail to buy, there was a similar operation at Widecells and the share price swung wildly both ways enabling the nifty to trade and make money.

Time will tell, the lower it goes the cheaper retail can pick up large chunks of stock for relative peanuts.

Agreed, someone has been buying large lines of the very little stock that is in free float - even prepared to pay premium prices to market.

The company is in full recovery mode, gold has risen $300, company is now cash-flow positive, operational improvements obvious + the expected bank restructure news imminent.

I still think it is possible the large holders will buy out the minority shareholders, this would explain the large buy trades, any offer would need to reflect fair value, at 5p a share the company would be valued at only £100m.

Either way the shares are dirt cheap at current levels.

Very interesting trades over the last week or two, I agree MTL is a leaky ship and I am expecting good news very shortly, people to pay a premium on a sizable purchase is good news indeed.

I still cannot understand why MTL has not re-rated like other producers, most have 3 bagged at least this year, MTL has barely moved in the same time.

A much improved trading update combined with the expected better financials would suggest a share price of 2p-3p - get the debt restructured and 5p+ is a real possibility.

I will be meeting Colin Bird on Thursday at Proactive all being well - if anyone has any simple questions post them here an I will do my best - please keep it simple

Still evidence that some entity is acquiring large lines of stock under the radar, it has been going on for a while now, it does make you wonder if the minorities are going to be bought out. Is the delay in news complicit with the same entity I wonder?

Current and prospective investors have to decide if they want to take advantage of the Riverfort situation - I suppose it is a bit like going to a fresh fruit market stall at the end of the day when they want shot of the remaining stock at any price.

Basically Riverfort are selling into the buying, we know they have 360m, as the price goes lower retail investors buy more for nominal sums of cash so the Riverfort overhang clears.

I have seen such scenarios before, the SP is driven below fair value artificially, as soon at the market sees the sellers stock reduce the market buys and eventually the SP recovers.

We know news is due, it can only be a matter of time before the trend reverses IMO.

Paul Johnson has sold his stake in Thor Mining but continues to hold Regency, still wonder what will happen here, it has gone exceptionally quiet, could RGM listing be used by a third party, inject new assets and name change for example.

Some talk around that it becomes easier to get a listing via a shell than go through the extensive time and costs of a full IPO.

News has to come shortly.

They cannot state in conference calls that they are working on restoring value and then leave the market barren of news for months on end, am banking on something material this month.

Add to the mix the Riverfort deal, despite the fact they cannot lose financially they want volume and the only way to get it is for AST to deliver news-flow. Whilst their 360m shares seems a lot right now it is worth noting that daily volumes in the likes of PREM, EUA, EUZ etc reached 1b+ over several days.

Whilst Riverfort selling 33m shares in thin volume has decimated the share price , the opposite will happen if volume multi bags. There is money to be made here if you can get in at the right time.

Those in at 1p or 2p must decide if an average is worthy, I fully believe .50p is a realistic holding position average, equates to a £15m m/cap, it just needs something positive to deliver it instead of the current news drought.

Worth bearing in mind given all the gloom that share prices do rise occasionally when such funding operations are active and AIM is the wild west and a share price can swing wildly to the upside in moments on news.

Castro inadvertently gave a clue in the Con Call that they expected to see the £1.1m during the course of the next 11 months , for this to happen the share price would need to be in excess of .30p - he added quietly news events should do this.

As I say how low will AST go in market cap before the valuation is balmy given the significant project - the only 'issue' holding value back is lack of finance and inability to deal with the Slovenian authorities.

Make of it what you will but a some point another company may decide to take the project from AST, maybe a company with expertise in the vicinity and well funded.

A bid cannot totally be ruled out.

I fully believe someone has been mopping up as many MTL shares they can get their hands on stealthily over recent months. I wonder if the major shareholders want the minority holders out and make us an offer, could this be part of their plan.

It is not unusual that minority shareholders are bought out before a full re-structure - I am only speculating but a such a bid cannot be ruled out.

Whatever happens the current price is a great opportunity, the lenders (banks) did not pull the rug from under the company when gold was $1100oz and most definitely will not now when it is $1500oz.

The financials will be improving, operational performance is improving, get the financial restructure completed and 4p-5p cannot be ruled out

Current market cap £20m - for a 60k oz gold producer is balmy.