Member Info for howezap

The share price movements seems to be ‘reacting’ more normally now, with better volumes traded more recently, that should help get more of them shares traded, tucked away in the portfolios of investors. Does feel we are only a ‘key’ RNS away from that tipping point now with any retractions creating healthy buying opportunities. We all understand the objective, but hoping that key news will reduce the speculation some more over the intent or plan where remaining intensity of drilling is concerned.
Seems to me to be the only real grey area.

Many thanks Ella for explanation on the applications. Will be looking in on legacy survey results in May out of keen interest. If Rockley sub belt can be highlighted to show greater district potential, then that can only go in favour of Bushranger’s desirability for a major to get a foothold within a potentially ‘fertile’ localised region. With continued exploration from Xtract to define Ascot and racecourse, the bigger the resource identified the more the economy of scale will will play its part to de risk that investment a major will be willing to make. Especially if a further, maybe deeper porphry is identified. Again adding more and more weight to why a major would take on the project. I’m sure if Anglo didn’t want to move into the region, with the low risk and what will be very good economics of Bushranger in what is a hot spot for exploration regionally, it will be almost a foregone conclusion another major will want it.
Bushranger increase and discovery has ‘helped’ to push the level of exploration up in Rockley and would be great if legacy can return some favourable results to show that district potential to add to the whole package that will be offered.
Happy Easter :-)

Ella- out of interest I believe there is a fault line that apparently runs through one of the bushranger tenements. I have a vague recollection of it being in the north west of EL8585 where some interest was shown historically. Am at a loss trying to find references through posts about it though.
Can anyone else recollect or share what they know?

Noticed while browsing, that within project tenure details it shows EL8585 as being up for renewal on 5th June ‘22 and clearly one of the surrounding licences on map.
Whilst at bottom of bushranger agreement under ‘exploration project’ it is not included but instead there is ELA5168.
A Mistake or explanation anyone?
Don’t like loose ends :-)

Took this from last but one interview with Zak from 3rd March right at very end.

CB>>“We’ve mastered Bushranger we really understand it now, and
when we get that final set of geophysics in our hands and it’s all finished and modelled, that will take us to that final solution that I keep talking about.”

With this round of IP data to support the final model, could it simply that they feel there will then be enough supporting evidence for now at least, for Anglo to make that yes no decision One can assume if this is the case then the 2mt threshold would already be met.

The southern extension will still have to be drilled to join up and the pit boundaries closed off, along with the north west of RC and Ascot you would also assume. But to do so with a major on board will give the project massive kudos and the market confidence. Will ultimately start its rerate, then once fairbride revenues bolster the treasury along with other new or existing income streams we may well see a return of a second drill crew through the summer.

This is where I’m at if to second guess what the company are doing. A potential sale by last quarter is easily in reach.

https://podcasts.google.com?feed=aHR0cHM6Ly9hdWRpb2Jvb20uY29tL2NoYW5uZWxzLzUwNTExMzMucnNz&episode=dGFnOmF1ZGlvYm9vbS5jb20sMjAyMi0wMy0wMjovcG9zdHMvODA0MDM4MA%3D%3D

Fair dinkum NtM good spot. Can’t find link to box but checked out the card. There are some aptly named horses running if Colin fancies a flutter. You got-
Cracking Mo
Two ya got
Southern appeal
Highly desired
Too good to be true
Shelby sixtysix (my particular favourite)
Not one to disappoint
Wife’s away
Long weekend
Already bored
Drunken ramble
Kidney failure
Dead as a dodo

Selling the whole company is not a serious option for so many reasons. Consider the potential increase in the resource at fairbride pit extension and with ‘strong’ evidence from eureka last drilling of potential IOCG and increase in resource from pit extension there too.
Drilling to follow at fairbride as soon as revenues kick in, as for Zambia would be good to be informed of the intent there. Could be a big sell on the cards if deep underground system is proven. There were already a couple of majors interested.
So so much potential…..oh and then there’s Bushranger.

With Colin down under, it cannot be just to go walkabout or to look at some interesting core samples! You would think there is more to the trip than that, surely can only be positive. Highly unlikely he would make the trip in person if was just to go to assess if the project was not going to plan or there had been operational difficulties for example.
My opinion it is a positive move.

Andrew. I do not see any reason why once the minimum confirmed 2mt resource threshold is reached anglo are approached with that resource data. Wether racecourse is closed off or not there will still be an increase in the overall resource to follow when Ascot is concluded. At this stage it could be a simple yes or no.
I think there is a huge deal being made of the agreement and it’s requirements. I’m fairly sure the BOD have a very good idea already wether Anglo want it or not, as I’m sure Anglo would already know.
Could be something or nothing that Colin has more recently been referring to Anglo as the company that has the first right of refusal. Whereas before they were referred to as our buy back partners. I know that is a bit thin but was just something I noticed that he appeared to be emphasising that point.

Thank you Andy for response it’s very reassuring. But, however this time I thought I would base my analysis on most recent RNS’s and try to ignore the noise. It is clear that the most recent IP survey is being used to target drill locations and as hole 27 has shown there can be very little reliance on the more inferior, old survey that was completed by Anglo years back. This recent survey will have concluded about now as was stated originally it would be about a month long survey plus analysis on top of that so I don’t think the very latest round of drill pads have not yet, or would have only just been applied for, for the very southern parts of racecourse a kilometre or so south of the main inferred resource. So that’s kind of my point, it’s unlikely the most southernly pad permits would have been applied for prior to final analysis of survey. If they have to wait nine weeks again for permits to get back, then drill and wait for assays, then that kind of blows the timeline for conceptual pit decision to mine out the water. They will still then have to do the open pit study which will support the model but cannot do that until the pit is closed off and they have the resource figures so again pushing timescales further.
Comes down to the intensity of drilling required from Jeremy and Quinton for the southern extension, to add to the so far comprehensive data pack they have put together. If it’s as big as we should all be hoping, are they likely to just stick a few holes in it ?

So Simply Wall Street found 4 warning signs that deserve attention before buying shares

Volatile share price over the past 3 months. >to be expected across the whole market due to geo political reasons.

Latest financial reports are more than 6 months old. > To follow.

Shareholders have been diluted in the past year. > This is. exploration mining, was the only way to fund this incredible growth opportunity.

Does not have meaningful revenue (£1M). > Will have soon when fairbride comes online and adds to income from other hard rock and alluvials.

Stevem >> Hoping it is going to provide support to the theory that Racecourse extends significantly towards the south.

Agreed,
If Anglos old geophys resistivity and chargeability marks an even fair representation of what is down there then that could be very exciting. The latest IP must not be far off completion with analysis, they have already used interim results to confirm that H27 which was sited by previous anomalous target was a bit off. At well over a kilometre of IP intervals, extending south and across Ascot too, the potential drilling needed must be up for debate if southern extension and Ascot are to be inferred, particularly racecourse as is required to be closed off to conclude the open pit boundary. Personally cannot see how completion of conceptual pit, following assays from holes not conceived yet, one or two maybe in the NW, remainder south, and then after that, the open pit study to support the pit model, will be all wrapped up by may or June.
I do believe the intent is to approach Anglo once the 2mt threshold is breached to “see what they want to do”. Whilst work on conceptual pit continues.
Interested to know what you and others think.

But does feel now like positive news from here, will have greater effect on how market reacts.

Do hope so Steve, but wonder where the next big news item will come from to give us a leg up prior to Anglo approach.
Metallurgical test work is due back in a couple or three weeks. Can’t imagine this would be RNS’d , findings could be quite technical and maybe difficult for market to digest. Could it be summarised?
Geophys maybe, should conclude soon, or reporting of permits?
I would say even production start up of fairbride might not necessarily be reported, the suggestion was that some pics would be put up to show it up and running.
Can look forward to alluvial income imminent, that may stir the market.
Anything else apart from holes and assays?

Bauhaus.
A recent post by jamiescakes on the unsold gold

>>> I’ve tracked unsold gold since the alluvial started (yes I am that sad), and believe we have 883 Oz of unsold gold at 2021 close. ?Cheers?James

And subsequent follow up from andrew4444
>>> Assuming Jamesiecakes is correct, and I'm sure he will be, if we have 883 Oz of unsold gold at 2021 close.??= $1.633M at $1850 POC??= £1.24m from unsold Gold??

Continue drilling the inferred
extension of the Racecourse system to the south awaiting approvals.
Testing extension to racecourse between it and Ascot to understand the geology where separation occurs.
Testing peripheral targets which are of interest in between the two bodies. Hole 37 tested a separate resistivity anomoly to the east of racecourse , but was apparent it hit the outer margin of racecourse. Are there others still of interest?
Waiting for drill pad permits to Follow-up drilling in the NW of racecourse that will focus on the interpreted shallower and higher-grade 'crown' to the mineralisation and to finally close off the pit boundary there. These will all need to be finite to realise the full open pit potential.
Finally Ascot, to drill to produce an inferred resource there.

What else do we know?

Ted you never fail to completely miss the point, and once again you have. These are two completely different investment opportunities, the xtract board have a clear target to sell Bushranger at the end of this final definition phase of drilling by end of year, a turnaround of approx 2 years from acquisition of the project. With very strong probability the project will be sold, returning anything from 5 up to 10x current share price to its investors.
Xanadu have every intention of developing its flagship Kharmagtai Copper-Gold Project and seemingly are clueless as to where they will get funding from. Debt may be secured from several sources including Australian banks, international banks, the high yield bond market, resource credit funds, and in conjunction with product sales of offtake agreements. It is also possible the Company may pursue alternative funding options, including undertaking a corporate transaction, seeking a joint venture partner or partial asset sale. There is, however, no certainty that Xanadu will be able to source funding as and when required.

Taken from their own study.

Strap in you may have a long bumpy ride ahead.

I have sipp, isa and normal trading acc with iWeb. Aj bell manage the sipp. If you hold the isa and the acc you want to transfer from with the same broker. Call the trading desk, tell them you want to bed and isa, they can execute the sell and buy back into your isa straight away. They can “only” do it over the phone you cannot do it yourself straight away!
Cannot vouch for all brokerages

Steve your post just reminded me of the old geophys signature we already have that clearly shows the extension to the south of racecourse, for any that have not yet seen what it is they are chasing south. This older work was carried out by Anglo some time ago and is considered not of the best quality, very blotchy. The very latest IP surveying being carried out at present is adding greater definition. I had forgotten myself the potential scale of the extension south.

https://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf

There was a comment recently made by Zak Mir from Colin that they will stop drilling by may and whatever they have is what they will model.
Likely?
Do wonder

Stellar update on progress 44,45 & 46. Next hole in progress 47 is in heart of no man’s land, so potentially this pad will service to close off both racecourse and Ascot. Would expect at least a brace of holes from this pad at least to fully understand the division. Previous comment in that they don’t think racecourse is swinging any further south west, so it may not be far off that the boundaries of open pit can be finite.
A member mentioned the other day about clear felling in the Forrest to construct pads?
By look of drill locations up to most recent they have been fairly selective geographically so as not to have too much impact within the Forrest. The 3 just reported where sited along a ride and others have been on the fringes. 47 is in the main clearing. The southern extension to Ascot is open beyond 39 to the east but south of 39 to west is heavily wooded so I’m interested to see if my fairly meaningless hypothesis is right :-))

Interesting read ella thank you.
Pulled this snippet, it supports the intent that has been repeated a number of times.

>>A mineral deposit and its resource estimate are three dimensional objects. Thus the data need to account for the strike length, width and depth of its geological structures and mineralization.

Would an exploration target be more appropriate for Footrot?

They plan is to define an inferred resource at Ascot. The intent is not to delineate but to leave open ended in all directions, to model to show the new owners that it ‘is’ viable and racecourse is not isolated. There is already 300m of strike modelled at Ascot if I recall. They will want to show district potential with evidence of a multi type mineralised system typical like Cadia, certainty with enough modelling to show the potential of further open pit too.
So there will be enough data to show some joined up strike, dip and plunge to contribute to a resource at Ascot.