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The agreement is legally binding, the only way we can be freed from it is if Anglo pull out. I believe Colin said this at one point. I don’t disagree that xtract can turn down all offers from Anglo though.
I believe this is why they are persuing ascot, racecourse extensions and no man’s land to produce a significant resource package too good for Anglo to pass up.
In interview Colin has mentioned the majors will be happy if we outline Ascot. Then quickly back tracks and says, “we have to deal with Anglo first”
I had wondered if Colin was posturing for Anglos benefit to let them know there are other majors showing interest.

I believe what is being said is that firstly the other tenements ownership that are not in the agreement would be transferred to xtract ( or new subsidiary) then outstanding funds in Prospectore acc would be returned to xtract through the inter company acc.
Drilling, surveys, assays sundries etc will be paid through Prospectore not direct from xtract.
As for the rest, I would hope someone else could decipher please.

Firstly, just to go back to discussions on how a sale would work and return a dividend to shareholders, this posted by Thediddymen on ADVFN is worth reading to draw your own conclusions from if not seen.

>>Firstly XTR should be funding Prospectore through the intercompany account. When Prospectore is sold the intercompany account should then be settled as part of the consideration and that will give XTR the funding to carry on exploration.

In my view Prospectore should be divest of any tennements that are not part of the AA arrangement and XTR wish to explore to another wholely owned stautory entity.

For the disposal process XTR issue shares in specie to all XTR share holders and the acquirer purchases those shares.

This will have the benefit that there is no disposal of Bushranger (ie no Capital Gain in Australia). The consideration received by shareholders is then a return of capital, avoiding any revenue taxes. UK shareholders will then be responsibkle for capital taxes. They can then use their CGT allowance should the shares be outside an ISA.

XTR should not be retaining any of the consideration for Bushranger, they simply do not have the structure to use the proceeds effectively. All the Bushranger development costs will be returned to XTR meaning that XTR will not be in the market for anymore funding and will be able to carry on exploration.<<

The only part I would tend to disagree with is wether xtract would keep exploration rights on the other tenements, what opinions do others have?

Colin has set internal aggressive targets to get the whole resource estimate for everything there is including the conceptual pit model by April/may. He couldn’t be that certain if there were long delays in the turnaround of results I would suggest. He has said though, if the target is missed it won’t be by quarters it will be by a month. My belief is a collation and data input due to the sheer amount of data to be processed. Any south/south west drilling subject to permission will be started once IP is done I would have thought, so that would suggest into March. Hence bringing back the second rig if IP signatures confirm a target. Doubt they will just drill it blind. There has been no mention the drone mounted EM has been stopped as was proving really successful in more accurate targeting of drilling. (Overlaying signatures from both survey types) So would assume they are still using it at Ascot.

As hole 19 assays recently received were the next due chronologically from completion of holes. Could the assumption be now that any ‘potential’ back logs have have eased and we will see a steady flow from the 20+ holes outstanding?
Remembering that hole 35 recently received, had a turn around of only 6 weeks from completion of hole.
Could well have been prioritised as was mentioned before, but holes within and extension of the conceptual pit are of significant priority too, there is a huge amount of data processing to get the model ready.
Are there lab delays?
Are they holding back results at lab controlling the release to market or are returned results being collated into interp model for later release of completed model?
Tick tock….

Xtr…. Gets a mention once again in one of Colin’s other company interviews earlier today. (Well almost)
Must really p1ss their investors off!
Good on ya Zak
You got to laugh
The last 10 seconds

https://podcasts.google.com?feed=aHR0cHM6Ly9hdWRpb2Jvb20uY29tL2NoYW5uZWxzLzUwNTExMzMucnNz&episode=dGFnOmF1ZGlvYm9vbS5jb20sMjAyMi0wMi0wNzovcG9zdHMvODAyNjg1NA%3D%3D

Colin has been busy visiting site in Namibia, plenty of life in the old dog.

You could sell your other stocks and put all you money into xtract. There is a very high probability this will be sold, so there is a case to argue against diversification here. Why would you put money into your 2nd or 3rd favourite stock? These opportunities don’t come around often.
I guess it comes down to personal levels of risk folk are comfortable with.

Hi everyone my name is Guy, i have a gambling problem ;)

Thanks monty I’m 55 now so hoping the option to take early retirement can happen this or next year. So 50p for me will max my LTA ceiling. Keeping all expectations in check for now though

Joeman, yes that’s correct to avoid delay the admin/trading line need to do it for you.

Thanks Andy was not aware, am looking into that

Hi montyfino I’m same as you 60/40 between sipp and Isa

Worth noting, only the first 25% of total fund held in SIPP can be withdrawn tax free. Over the threshold is taxable as income, so a very large withdrawal could see you paying 45% (subject to personal allowance)
Many ways to withdraw in any combination.
Worth checking for yourself

Imkloot I’m assuming you have isa with H&L as well as basic acc just ring their trading line, tell them you want to bed and isa they will execute both trades there and then. Occasionally if the spread is large, they will do buy and sell orders to complete.
Either way a few shares are lost in the transfer.

Hi joeman,
Divi’s will be paid direct to each holding acc per shares held
Is that what you refer to?

You will only be liable for capital gains tax if held outside of an ISA and once the gains are withdrawn from your trading account into bank acc. Any dividends paid will go into the acc the shares are held.

That could be the big fat cheque Colin mentioned ;)

I think Colin was being quite sincere in a recent podcast, when he said he doesn’t need the money he wants to do it for the shareholders. Particularly the long termer’s I guess. So would hope majority will be paid out, to pay back that loyalty.
Personally don’t think it will be a small dividend and spend rest on another project. Who knows.

As it will be the subsidiary ‘Prospectore’ acquired, would all shares held, be retained by holders, anyone confirm or not?

Good synopsis Stevem btw

Ffs voxm arkets delete space

I would hope that as well gixxer.
I will be very keen too, to get IOCG theory proved in Zambia, could potentially be worth as much as Bushranger.
Xtract will be in a strong position with good income and healthy balance sheet to do it post bushranger sale with huge further potential upside! Can’t cut and run from that.

Eureka update September 21
https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-colin-bird-executive-chairman-xtract-resources-9b8c554/

Are you just looking at a chart?

Initially thought this was a pointless interview! But on the contrary CB made it clear in no uncertain terms, by once again confirming that targets are being adhered to, so I suppose any thoughts that this project will be extended, even if a third porphry is identified will simply not be the case. Also confirming that the overall resource package including Ascot will be ready by April / may to present to Anglo, and not just the 2mt and the decision to mine options from racecourse.
Colin seems very keen I think for discussion on BB to keep to the objectives and not stray inadvertently, giving potential new investors a bum steer as the
Project enters a crucial stage in gaining that stronger investor base needed to build on the market cap prior to April may talks.

>>Yes I too am of the opinion that CB is looking for a third porphyry, if he finds one will he go looking for a fourth ?

If we look at this at face value, taking into account that target and timescale is to be adhered to. The evidence of further porphry close by with 1 or two recon holes drilled along with the data from racecourse and Ascot that show very different types of mineralisation would confirm with a degree of certainty that it is a multi porphry system that is really going to wet the appetite of the majors.
Hoping the next podcast will be revealing whenever that may be