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If you are referring to Kakuyu cela. There is already a stockpile of ore on the run of mine pad which is being sorted for better grade control so ready to go for processing when sampling results for compatibility are back and after a deal is then struck with a nearby processing plant.
Initial payback of expenditure firstly with further developments to follow under the JV deal structure.

New drilling ? Money needed ? New placing = NO

Read agreement 15th Dec

>>Let’s test it . Send money once share price gets to 3.5 and issue at 2.75 .?Need more remuneration .

At least make an effort to read the the JV agreement and understand how initial financing is structured.

To say CB is happy with progress at Kakuyu is an understatement. To go from a projected couple of year initial run to considerations of a processing plant as LOM is looking positive on early analysis to extend beyond 5 years is very reassuring for this new JV partnership and the project.

They have certainly been busy.
Good job

I imagine more of an Italian accent strangely ;-)

Hiya no of course not bad, works both ways. But we have had over a year now of what is perceived at the time of any given previous dip as fantastic buying opportunities.
It’s no wonder there are so many holders that consider themselves to be a tad over exposed ;-))

It’s funny, I consider myself to be fairly well researched, but nowhere did I read it takes ••••••• years to prove up as big a resource as BR
Good luck to you

Eye spy with my little eye, someone that has maybe missed their target entry price.

Sounding bit desperate now tbh

For sure Cygnus, time is of the essence if you can wait, the more I understand of the current growth strategy and with the back drop of the global need to decarbonise toward net zero, with copper being central to these demands. I am as confident as ever of the bigger picture beyond BR that a sale of its biggest asset will leap frog the company toward eventual mid tier if the company can seize now on the best opportunities to bring further small to medium scale mines to production as well as further developing Manica. Let’s also hope too that Eureka can see further development.

CB had previously said he can see Xtract as a mid tier, giving jubilee at then 400m MC a run for its money. Along with Auroch minerals who were Manica’s former owners saying , “Xtract aim to become a mid tier gold and copper producer with a focus on, low cost high margin shallow/surface deposits.”

The aspirations are there and with sub 20m mc and potential going forward, there could be enormous upside from here over next few years.

Hi Cygnus no not necessarily as is based on the twelve month period from that time. The preceding part of the segment I pasted is fairly clear.

Half year audit.
>>Management have reviewed the cash flow projections for the forthcoming twelve months, based on the current operations in Mozambique, Australia as well as the corporate overhead. The alluvial operations continue to generate modest revenues and as with alluvial operations the presence of gold in alluvial deposits is unpredictable and therefore operational results will vary month-to-month……….

>>Technically it would only have legal clout in an RNS but who would put out an RNS just to say that,

From half year audit report

>> Based on the assumption that Fair Bride operates within its targeted parameters and no new business is consummated, 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.
 
As is common with junior mining companies, the Company in the past has raised finance from shareholders for its activities, in discrete tranches to finance its activities for limited periods only and further funding would be required from time to time to finance those activities.

Apologies for the copy n paste. It pays to keep those expectations in check for now.

Is good to be optimistic Cela I certainly am too, until there is a reason, to be otherwise!

To see ‘no’ funds raised will be based on the assumption that Fair Bride is operating within its targeted parameters.

Any normal moment in time and space, without the resulting global economic climate from various contributing factors, and quite frankly CB’s awful managing of project expectations, the release of the resource statements would have normally seen a healthy rise in share price. So surely, with an encouraging economic assessment the market cap will see some sort of eventual rerate.

So any planning and potential fund raise would follow at a higher SP anyway. It could be a possibility and more than likely that they would want funds in place to cover the cost of the PFS too.

A further raise cannot be ruled out for certain. Could be dependant on the scale of the next infill and definition drilling the company are planning to do. There would be a requirement, to have the sufficient funds in treasury to cover the contractual obligations of that necessary phase. As was the case for the phase 2 programme. With more meaningful income being generated though, it would make a significant contribution this time round, and would hope any further dilution would not be a necessity.

It won’t be the end of the world if it ultimately gets the project nearer to a pre feasibility study, which are not particularly cheap either!

Hi monty, been a while.

>>>Just wondering if we may have an offer from an outsider. What would happen then? I suppose AA would have to match it to be successful.<<

With the legally binding agreement in place with AA it is highly unlikely that any other interested parties would make any offers at this stage.

Thanks for sharing Naughtygordie
Few snippets taken from it

>>…if the Manica project is developed as an open-pit mine, it will become the county’s first major gold mine in addition to considerable future exploration activity that this area offers.<<

Considering that….

>>Gold has been mined in the area from the 12th century and was mined in prehistoric times by indigenous people.<<

What is important for longevity of mining operations had been suggested in those earlier scoping studies. The importance of bringing fairbride to commercial production is not to be underestimated.

>>Importantly, the concept study indicated that much of the Manica Project area would be readily amenable to low-cost surface mining techniques, and that it exhibits no particular technical or economic risk issues that could undermine its operational viability.<<

News waiting on…..

Updated conceptual mining study with economic evaluation.

Potential, and or hopeful news……

A firm JV agreement announced for small scale Chongwe mining project where there were positive findings from earlier trial mining with surplus cash flow over cost. Earlier work was more exploratory than a deal, to see if potential existed and any benefits could be shared with the project owners.
(Courtesy Andmillsy email response from company)

At the newly acquired Kakuyu mine JV, ‘results,’ of geochemical surveys and mapping across the license conducted by exploration teams that are currently if still on site. Also any follow up news of drill testing program of any targets identified expected early in ‘23.
Confirmation that mining has commenced at Kakuyu

Further JV’s for small scale mining opportunities in accordance with the companies ongoing strategy.

Eureka- any further developments on the project or wether or not the relationship with JV partner KPZ has soured after Kalengwa being binned.

Back in late ‘20 there was a reported dispute of legal ownership of the kalengwa license but was debunked by the company. Following this though, there has only been the follow up of results of earlier reconnaissance drilling 29/03/21. But then saw no further developments ‘reported’ on ground after that.
Coincidence?
Sounds a bit iffy and quite honestly IMO more plausible than to go through a period beforehand of their due diligence process to decide to exercise their option to enter into the agreement for kalengwa in the first place. You would think haulage costings and power to site capabilities would be paramount importance. (Ultimately the reason CB commented on as reasons for withdrawing.)

https://www.lse.co.uk/rns/XTR/comment-regarding-zambia-media-reports-ydfyagthppx9udd.html

Any thoughts or comments?

Dots Luck is really interesting, being central and in proximity to a major fault line and 3 major shear zones.

Hey Pinocchio I can see retrospectively, that you were actually being positive all along. I too maybe, wrongly felt you were being negative before. We are all with you in hoping the share price will see some recovery by Easter. Certainly with the economic assessment of BR before then along with anticipated increased revenue from Africa.

It’s posts like this one you made in Dec that plants a seed of doubt.
>>> 'Ive run the Fairbride figures through my super spreadsheet and I've calculate income will be £3.86p a month at $2000 POG.

Although was no doubt with a previous poster in mind that sold up and trashed the company, sarcasm rarely comes across on a BB.

So an overdue ‘welcome’ to the xtract board .

>>> I will match of course ( and can be verified)

That’s ok Pinocchio we believe you, there’s no need to bother your mum. Grow up!

Mrs S has been concerning herself once again with my apparent risky investment strategy of having all our capital in just the one company. I have no doubt time after time tried to give my reasoning and reassurance that although we are sitting on a paper loss at present, it’s nothing to worry about and am very confident that Xtract will come good.

Unfortunately, she is not having any of it, saying that it is not a good strategy and insisting I diversify or find an alternative!

Julie 36 from Salisbury looks alright.