Member Info for howezap

Hi gixxer it’s good to hear your views on cb and his previous pattern. Gives an alternate view on opinion of him. Appreciate them. Post Bushranger, you must admit the company is in a different space now with potential of the oz asset. Grades are to a degree important for the project to be economically viable but it’s not all about grade. As have said before, the size of the ore body to attain a depth of pit that will be nearer to the deeper ore is as much significant for the economic viability as grade. In that respect alone, it is looking to put racecourse in tier 1 category. Majors want massive scale with consistent grade. Visual inspection of core sampling to determine mineralisation has proven to be generally consistent with returned grades so far, so I think we should be confident there of a big enough resource at racecourse to make a buyer want it.
Ascot has changed this projects desirability no end if that confidence from the company is proven. As will south west extension of racecourse and the 1.5 km bit in between, that the company are obviously very excited about.

Really confused now, so which one of you is Colin’s bird? ; )

Cygnus, I would ultimately be happy with a 25p sale price. That was my original phase 1 target and since then the increased potential had given confidence to double up and now 25p minimum allows me to retire early. So the beauty of this opportunity is that a sale of asset is likely through M&A of Prospectore, with dividend or dividend/share split with AA shares being issued, paid out to shareholders, who would then retain their xtract shares held. Just need to sit back, be patient and have confidence in Colin he will get best return for shareholders whenever that may be. Could be a bumpy ride.

I agree with you lucky if we’re just the decision to mine option they would have to show serious intent but to show concurrently that 2mt along with plans for a mine with financial model that shows viability from racecourse puts xtract in a stronger position going into talks and for a valuation. I think that is what Colin is getting at.

He said he has a very good idea of what racecourse is worth, so to make comment when comparing to the Josemaria sale that he didn’t think it would be far of Kevin Hornsby’s (or Phil?) suggestion of sticking a billion dollar price tag on it.
That 40p is looking quite possible.
I think it would also be fair to say Xtract are progressing toward the decision to mine trigger option too, for all the reasons stated. Until the models are complete, detailed mine planning and economic feasibility cannot be done.
The metallurgy test work is being done which will contribute to these.
The disparity in the share price over a potential value of asset is one of the reasons news is being held back imo. If Anglo did exercise their first option to buy back in with early offer ‘prior’ to Prospectore producing 2mt it would have to be taken very seriously by the board and once put to shareholders with that share price disparity, how many would turn down 15-20p when current levels are range bound at about 5.50-6.50p? So I think the current approach is to build the resource quietly and to as big as viably possible without giving anything away. Maybe if the market cap was higher, CB certainly tried too get it up, the chances of an potential early offer would have been reduced as shareholders would be less likely of accepting that same offer and news would be more forthcoming.
Just a theory, what do others think?

Thisgoesdownwoukdyoulikefrieswiththatsir, I know you make money from people like me, I’m a good tipper, although I don’t generally eat fast food but am always very appreciative to people like yourself that work hard in a poorly paid industry.
Thank you too for the tip in return, of a 10% drop Monday, that will be a fantastic buying opportunity for informed investors to accumulate.
Keep up the hard work ;)

Allow me monty, the thing is thisgoesdowniwillneverhaveanymoney, some time this year monty will probably be a millionaire and you will still be living at home with your parents.
Ahh bless

Me too, what is it, what do you know? Trying to ignore that rob is futile. Please tell us, you can’t just leave it there.
He is the messiah, follow the gort

Another way to look at it, Colin has spent a lot of time and effort in getting the project exposure with a lot of news releases followed by interviews.
Arguably yes they could have done more on PR but Colin has his own way of doing things.
It was a significant drive to seemingly get the market capitalisation up.
Now the project has a firm target in sight, with enough information out there for investors to make judgement and the quality forums we have for them to get further information. Maybe CB wants to now concentrate on his other commitments feeling he has done all he can for the LTH’s or ‘genuine’ investors that prefer to take on the early risks.
To me it looks very positive for a good outcome, otherwise I think they would still be doing more.
There’s lot of news items due but there might not be anything of significance released from racecourse or extensions relative to conceptual pit, maybe not even from Ascot
The MIMDAS would have started its rounds by now, ( mid feb was that right?) would hope to be shown the signatures and a narrative from ‘no man’s land’.

His poor grammar is more annoying than his posts, although when I’ve had a beer or two the same cannot be said!
Apologies to any bod that witnessed my articulate outburst before thread was deleted.

Was my ref to Bushranger licences that he may have been referring to, listening to it again it does point to AA picking up elsewhere in Rockley.

Ella is some mystery to his comment as Prospectore are the predominant name relating to Bushranger licences so unless he knows something through the rockley grapevine, it seems an odd mistake to refer to AA associated with bushranger. Although tbh Prospectore are just pawns in their game.

Sounds like Chris Byrne is referring to an Anglo acquisition rather than a Prospectore from Anglo. Certainly nothing in Anglo news releases, but would picking up a tenement be worthy of a release for a major?
Could be starting to build there position in the region for obvious reasons
As with any second hand news could simply be reference to the latter but nether the less good spot

Just recently in interview with Kevin and Phil, CB confirmed all within license is included and in previous interview some time ago mentioned the 2mt has to come from racecourse
Otherwise you could be in a position where you find 500kt’s here and there across the tenement, which is as much use to a major mining company as having tits on a fish

Hi xeiger yes I remember you being part of the chat around that time.

>>I think the stripping ratio is calculated with the overburden excluded

As with any engineering or building project, the top and subsoils will be stripped off down to formation level and stockpiled on site for future reclamation of the land. With a mine all the vegetative soils will be removed down to rock but not necessarily the ore body. These processes are part of pre-production phase when building the plant and is what I was referring to.
Call It a senior moment

IWTO 3 or 4-1 apologies, the revised ratio will be worked out last I would guess. Are many factors that determine strip ratio from ore quality to type of waste to be removed. I think the stripping ratio is calculated with the overburden excluded which incidentally will be minimal in relative terms. From 11 metres, but generally anything below 3-1 for large scale copper porphry deposit is good but every project is different.

Hi Ella I think we are just splitting hairs with the 2mt issue.
I do believe that threshold will be blown away anyway, so the interpretation of the agreement will not matter and where the 2 million tons should come from. What is as equally important as grades, if not more so, is the size of the resource and the open pit potential.
The economics of racecourse extend way beyond the open pitiable resource. The bigger the open pit becomes the deeper it gets and the closer you get to the underground resource which drilling so far has hardly scratched the surface as phase 2 has only targeted the shallower open pitable parts of the resource. So by the time the open pit is depleted 20/30+ years all the CapEx will have been paid for, with all production facilities in place so to then access the underground resource only carries its own minimal CapEx and operational costs. This is why they are not concerned about grades. They are coming back more than adequate. With a 3/4-1 stripping ratio and what is likely to be around 0.15% economic cut off. Recovery of initial CapEx will start with the shallow highest grade parcels and so on. This without yet considering Ascot!

Who was it that came on and suggested 10mt+ eventual resource and laughed at by us? Xieger maybe?
Bet whoever takes this on, that eventual resource estimate will not be too far off.

If Anglo decide not to buy- back then xtract will be free from the agreement and can offer to open market. The tenement covers all porphry discoveries including footrot plus any other of the anomalous targets previously identified. The 50% 3yr condition applies to the other tenements in the bushranger copper gold project but is likely (arguable) that these will be sold along with EL5574 as complete package. I would hope xtract could retain the exploration rights. That part is up for debate.
Again I believe the 2mt is required to be from racecourse but as Ascot is adjacent and could potentially form a joint operation sharing production facilities along with racecourse then it blows the terms of the agreement wide open. Footrot for example is 7km away and would not be included to contribute to the 2mt if was the case.

Who would have guessed looner resources may not be as far fetched as you would think.

Elements known to be present on the lunar surface include, among others, oxygen (O), silicon (Si), iron (Fe), magnesium (Mg), calcium (Ca), aluminium (Al), manganese (Mn) and titanium (Ti). Among the more abundant are oxygen, iron and silicon.
But get this,
There are other valuable minerals on the moon. Rare Earth Metals (REM) are a good example with NASA already looking at innovation in mining industry technology for use on the moon. ... Concentrations of the most valuable mineral and resource deposits may well drive the location of our future moon bases.

Cygnus
I had thoughts on that and my opinion is that I have doubts as to wether, if the 2mt target is not met it would void the agreement. Could it be that simple, not so sure.
If Anglo want it, the agreement is clear enough and xtract will be in a position anyway to exercise the buy back agreement, even if 2mt target is not met as the decision to mine will trigger anyway.
if they do not want it presently, my thought is that they could stall and have a hold over the project and xtract in the hope of picking it up at a later date for whatever internal political or economic reason. But, as there will be the decision to mine option it would cover that potential eventuality. The mechanism to exercise the buyback process just needs to be met by xtract to put Anglo in a position where they cannot dictate proceedings.