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Think if we start receiving floods of news flow, that cannot be a good sign, Bobs suggestion would be well received, but wouldn’t want to see a repeat with the Zambian Ops that we had with that ridiculous high frequency PR from early Bushranger as it probably means they could be looking to a do fund raise.
Companies do have a legal obligation to disclose material information, but the significance of such, can be contextual.
For instance, most project updates are relatively insignificant toward an end game. If Xtract gets a good result assayed from one drill hole, they might argue that its impact, relative to the overall operation is minimal.
So for example, if Xtr were to announce outlining a resource, the individual updates throughout a campaign may seem inconsequential in comparison. Therefore, the company can reasonably consider the significance in the broader industry context when deciding on disclosure. As long as this decision aligns with regulatory guidelines and is made in good faith, it's typically considered legal and within their discretion as a company.
I personally hope this is how they play it this time.
forgot to post reply to ****nal221
>>>only thing cb does, as far as value is concerned. is destroy it.
acquisitions that ‘see’ potential to be of interest to majors, projects that have or are advancing through drilling along with all the other technical work, is all adding value to assets. the share price does not directly follow lead from projects status, it is purely driven by supply and demand of those shares and with what’s been going on in the world over the past few years it’s not surprising these types of stocks are not favoured in the present climate, regardless of what is held currently in project portfolios. can’t put mr bird in the same basket as a tin pot dictator and all the other russian revolutionaries that preceded him in causing the same global instabilities and uncertainties this time and witnessed previously throughout history. he’s not that important he could single handedly cause the whole resource sector to crash as it has done. he might crash the buffet at the ivy in kensington but that’s about it!
>>>The plan needs to be in an RNS that’s been legally approved IMO
JB they can never say never that a fundraise will not happen but was RNS’d in half year report that,
…….the Directors do not anticipate the need for funds to be raised in the twelve-month period from the date of authorising the consolidated information.
That was sept ‘23, the full audited report will be of interest to that respect.
Irishdemon 👍
NtM - Alternative three letters ..REP…. Or RUN
Whether clean, or renewable energy. The transition will require copper, which is central to its delivery and storage capabilities. Emerging economies such as India will need huge amounts for electrification alone.
There are billions of people around the world that are not on the grid. This will change as technologies for the provision of renewable energy and the battery storage of electricity is advancing and is increasingly becoming more accessible to nations that require it.
Even the debate on EV’s as to whether or not, they will fully replace petrol or diesel cars in the race against Hydrogen cell vehicles is not a concern to coppers demand. Hydro cell cars are still driven by electric motors, and the new infrastructure for refuelling stations will require vast amounts of copper.
Every twist and turn will see copper being central to it. With nations being under increasingly more pressure as their economies recover to decarbonise and reach net zero to be able to trade their goods and services at a premium.
>>>Until it’s there in black n white writing that’s he’s drilling without diluting again mkt won’t rule out placing.
Plucked straight from this months new presentation
‘Shareholders to benefit from discoveries without recourse to dilution from fundraising due to availability of treasury funds.’
What more is needed Jackbal ;-)
Yes an increased copper price will need to underpin the future viability of BR, but more importantly short to medium term , global economic stability, low inflation and interest rates, will see a reduction in the very costs that will have the biggest effect on the financial performance of the NPV model which the company are currently optimising. A Copper spot price will not have a real influence on a valuation per-sae.
It will of course need leading economies to grow for demand to increase before copper rises sustainably.
I support your view OaW, particularly, as to where Xtr want to be positioned in the copper space. They would have gotten seriously bogged down with buying into the next mine phase.
The upfront costs and relative simpliciy of open-pit mining are much more economical than that of underground , however, initial costs can normally be offset easier from the revenue. Surface mining does have limitation’s though, so MMP likely believe that going underground has proved to be necessary in order to extend the life of mine to be able to exploit remaining ore reserves.
Underground mining’s higher production rates will alleviate the higher initial cost, making it ultimately a more cost-effective method, but it’s clear now that Xtr cannot take the risks involved to get there anyway, even if it was within the companies growth strategy, which it is clearly not. Just wanted to elaborate on your good post 👍
Realised is definately a chatbot
How To Tell If You’re Chatting With A Bot Or A Real Person
Inconsistencies in language and peculiar phrasing can be your first clue.
The English language, infamous for its complexity, often trips up even the most sophisticated AI. Beware of sentences that don’t make any sense and words in strange places–you might just be talking to a chatbot…….. or a Danibot 😂🤗
Thing is that recent surge has ‘still’ got little to do with any significant increase in industrial demand. But more down to the shortages of raw material in China. Some copper smelter plants have agreed to reduce production at unprofitable plants due to the shortfall, along with copper concentrate prices being really low, it’s impacting smelters profitability.
Get that bow out !
I know I should get where you are coming from Jez but cannot get over the idea you are implying that CB is some kind of screwed up disreputable Robin Hood character who steals from the poor and gives to the rich. 🤑
Hi 3cardbrag of course I would, but the point still remains that xtr are positioned to be able to have that project diversification which is really important. And, to simultaneously develop each of them further at a pace.
There was a debate on here not too long ago about they should concentrate on developing the Manica resource and not go chasing white elephants elsewhere. Look how that turned out for its fans.
Fact is, not all, if any projects will be successfull, we all know that or should know that! We have had to move on from the KPZ partnership and suffered serious loss of sentiment over the BR timescales. But still, after 3 years there has not been another fund raise as the company has a seemingly healthy enough balance sheet .
Not too long until audited report to see exactly where the company is financially if there is transparency.
Yep, fully see it flipper, been following Arcm for as long as been in Xtr but always held back putting money in.
Maybe now is an ideal time.
Revenue to support operating costs is key for me though.
A kick in the teeth for the Arcm investors, but can only once again offer a polite reminder that over this side of the fence, up to $15m will be guaranteed in staged payments up to Q1’27 to certainly keep the candle burning and to advance the remaining assets so should underpin a level of share value if things get worse globally before improving.
No it doesn’t guarantee there will not be a raise down the road, but if there is, it will be for a genuine growth opportunity toward a major development or exploration programme rather than out of the necessity to.
Also leaves Xtr in a position to pick and choose any new small to medium scale opportunities. How many of our peers are positioned for M&A activity to add to their portfolios?
>>> I still think there may be a better chance of success on Arc area than ours as AA are overseeing the drilling.
CB mentioning it may well be one of other drillers that make a find first, he likely has similar thoughts to have mentioned it. If so, would no doubt heighten activity to merge with or acquire these relatively unexplored areas. One thing I could offer on the Xtr Arcm debate is that we know xtr have an initial 55% interest increasing to 65% if the exploration buy in criteria is met. Are investors considering how ARCM are positioned in their JV in comparing with XTR.
Unico Minerals hold 30% interest, a 67% subsidiary of ARCM. The remaining 70% retained by AA. So would surmise ARCM actual interest is circa 21% is that right?
But also on top of that is that xtr will not be at the mercy of a controlling partner and are going to be calling the shots themselves on direction, budget and timeframe.
I do appreciate the benefits of the ARCM deal being potentially less risky to shareholders so as always I guess it could come down to personal risk aversion.
Hi flipper xtr believes there is scope for the discovery of potentially high-grade Kamoa-style mineralisation at depth and lower grade Kolwezi style bulk copper tonnage that includes Cobalt at or near-surface, so would guess both would be of interest to target to build a resource around.
Hi Andrew fair points all the way as your usual, however the xtr geo team have been given access to AA’s historical data if I could draw your attention to the paragraph below from most recent Zambian RNS
-Xtract now has exclusive access to unique historic data sets generated by Anglo American plc which pre-date any proper understanding of the Western Foreland geological setting and potential. This has enabled a fast-track early-stage exploration strategy on a very cost-effective basis that will save an estimated US$1.5M in direct exploration costs during Phase 1 of the Joint Venture.
There is a good degree more science involved than hope in those early drilling targets
Means it’s time to carefully decide if you want your continued investment to support what is now essentially an exploratition play for now, to see a return if you had previously invested for Manica or evaluated your longer term investment strategy centred around its income.
Before you decide to part company and put your money into your next favourite play, consider that ‘now,’ with guarantees of ‘all’ income to budget activities and meaningfully advance the remaining projects old and new, without the real risk of more serious dilution that will be necessary to buy into the next phase of Manica. At current MC, it will not be achievable regardless. Also, considering the overwhelming majority that voted in favour of the disposal would have certainly meant that take up to raise capital investment for Manica would have not been successful anyway had they continued.
Can all be guided by the interests of the majority shareholders that the company have gone in the right direction.
OSV @16.10 made a fair point.