Member Info for howezap

>>>>howezap: I am amazed that you can possibly be aware that I have made poor investment decisions.

No Bob obviously I was not fully aware. I just guessed ;)

Vulcanbob yet another investor with only himself to blame for his poor investment decisions. Yet has to drag up whatever he can find to justify that it is not himself at fault.
On the other hand, there is an obvious agenda working here all of a sudden to knock investor confidence. Seen it so many times when a company is on the verge of something big the parasites turn up. Do your worst guys then go away, racecorce deposit will be sold for many millions regardless. You can count on it.

Thank you for your forecasted income figures andrew4444

Just for an added reference on costs
>>> Note. These figures are profit, so after all costs and tax. Not headline revenue figures.

So roughly 60k monthly for costs going by the half year report.
Any figures been quoted on full production when it ramps up later next year ?
Or potentially what that figure could be?

I’m genuinely concerned for Ella now, knowing that justice is going to be served up ‘officially’
best keep a look out for something in your inbox ellla

Of course you are entitled to your opinion, but on the xtract board the member is a respected poster and I would agree with others that Ella is held in high regard….along with her gold :)

Many thanks gixxer and captainbob, I can recall the interview, but, I thought they were looking at drilling on both types of mineralisation, bulk sampling was for the open pit extension., were also planning deeper holes into the 45 degree statabound mineralisation testing the potential IOCG theory.
Was hoping to have an update by now, maybe they are focused on the oz drilling campaign until the resource model is updated to have a better understanding of the next exploration phase and it’s budgetary requirements. I recall one of you chaps mentioned CB had even said that the couple of extra African ventures would not be funded if we’re going to interfere with the oz drilling efforts next year. But funded from income cash.
We can’t have it all, if that is the case. Can fully appreciate the majority of budget going into racecourse and further focus on returning revenues from other assets to help fund the efforts.
But would be very pleasing to hear that eureka deep drilling is planned to start some time soon.

Any indications from Colin, either from agm or the evening meet regarding when further drilling is planned at Eureka? Do we know any more than what’s been RNS’d to date?

Ella could be what 27,29 and 32 are probing, could well be the same intrusion. If so, it may explain that cluster of drill targets to that location.

Stevemocal posted..
>>>>And XTR's contained copper figure will not include an ounce of ore from what looks like much bigger, likely higher grade, porphyries to the SE.

That’s for sure, also to consider is the potential to massively increase the mineralised rock mass within the outer margin of the conceptual pit, with evidence now of a further porphyry sitting below the main body maybe as a sheared zone. How much of this will be recoverable by open pit particularly to the SEastern side where the main body is not as deep. Nether the less could be quite significant to bolster the overall resource.

The main objective of this drill phase was always to get to the 2mtCuEq. With the intention of sticking that recon hole into footrot. But then with the surveys showing the potential scale of the south eastern porphyry, the second part of the drilling plan discounts footrot to concentrate all the remaining holes into that south eastern porphyry. Quite rightly so, but looking ahead I would wonder if the main objective of the ‘next’ exploration phase would be to concentrate in, under and adjacent to the conceptual pit ‘first and foremost’ over the massive SE porphyry. Adding that to the ‘to do’ list.

We have still not had a duffer of an RNS throughout this whole campaign, even the drills pushing the envelope of the porphyry are returning better than anticipated visible mineralisation. And assays are all coming back as expected. All is very much on track, probably better than expected, we are funded into mid ‘22, the incoming revenue expected will have had months by then for production to have ramped up to be significant. The company are also looking at a couple of JV’s in Africa that will be cheap to finance to help toward the oz drilling efforts next year. So until then the jury is out where any further raises are concerned.
As for the current share price, it really doesn’t bother me personally, I am more than happy to keep adding as and when.
Happy days

You never know Johnnie123,
I have always felt the revenue from African mines would give investors, particularly new, confidence enough to pile in. As there is still this misalignment in the market cap to the values one can realistically place on existing assets. There is no doubt either a cautious market exists that are waiting for meaningful, incoming revenue, a market that still doesn’t understand the project potential, or both. At present there is only the inferred resource of 71mt of ore to underpin the ‘current’ resource estimate.
So until confidence in the resource can be gained, the revenues, as and when they are confirmed, will only start ramping up over next year to full production??? So initial figures, will maybe not stir the market as I would hope. Unless…..the team can convince the sceptics through the updated resource model with some decent projections that can kick start the next leg up. They will be throwing everything at this to maximise impact, content, timing, follow up interview. Possibly a pre-model release interview to prime the market.
Will not be too long now, there is no doubts a strategy is being played out building up to unleashing what will be big news.
Sustaining any rise after, will have a flow of assays reported regularly to the end of the year and some. I’m setting my personal expectations low on this scenario but is not to say the market cap will not be doubled by end of year.

Originally, it was of the opinion by many that a significant rerate would come about when the 2mt was confirmed prior to what was hoped AA would then confirm their intent and negotiations would start. It is generally believed that any real intent to mine was never realistic being the other trigger. Or, when the JORC was updated at the end of this exploration phase So, as the resource has increased considerably and will now be likely to easily exceed the threshold of the 2mtCuEq this target figure is now a bit irrelevant.
I would hope the release of the updated model with ‘estimates’ of copper contained would make a difference, but realistically it will still not be until the JORC is updated in feb/March at a guess that any real rerate will come about.
Hole 30 appears to be the last hole inside the conceptual pit so it should not be too long before the new model is presented. They could collate all the remaining unreported holes at the same time with a link in the RNS to the new model. But more likely IMO the holes be RNS’d first, then a similar presentation released to make the most of it. Hoping to hear from the team once again.
Then there are the assays back from firstly hole 14 and then 25 the first two holes into the new SE porphyry which will confirm viability.

Ah yes, the sheared zone was spoke of.
Could holes 28 and 30 be of any significance then?
The geology is not my strongest subject
Thanks you Ella

Shows how the original drilling before xtract fell short of realising the scale of the system when you look at that, even though it’s just an interpretation. Subsequently how now, the original and still current JORC resource will be increased 5-7 times and still fall within the (to be revised) conceptual mine plan.

Has there been any mention of a secondary deeper porphyry before assays were delivered from Hole 16? If not then we are just guilty of not realising the sheer scale of the main body I would say.

Does seem they are fairly confident lucky520 of a secondary porphyry under the main body. Holes 28 and 30 could have gone to test this deeper porphyry.

From hole 16 19th nov RNS
>> The area is proximal to an induced polarisation resistivity low anomaly and could signify that a second mineralised porphyry body is close by at depth. Further drilling to test this zone has been planned as part of the second stage of the Phase 2 drilling programme

However at EOH depths of 648m and 486m respectively they do not appear to be of significant depth.
So either, 28 and 30 have ‘not’ tested the potential deeper secondary porphyry as it could be interpreted that them holes are still to come reading the above portion of RNS
Or, they have only probed the top of the new porphyry to confirm it is there which to me, doesn’t seem likely anyway. Although they would still be drilling through the main body to get to it, all useful data.
Worth a mention.
Opinions?

Having only started investing in the exploration mining sector over the last few years, with my extensive and I would consider very thorough research, in the company, the racecourse deposit, how deposits are valued, mining methods, processing and extraction. including the Lachlan fold and the copper dominant Rockley-gulgong sub belt where Racecourse is situated. Even the mechanics of how liquidity in stock is generated by market makers.
Now, I consider myself to be quite the expert and with my newly acquired knowledge on copper gold porphyry deposits, the need for new copper and battery metal discoveries to fuel the electrification of a greener planet over the next generation and the like, I find find myself telling anyone that will listen about this newly acquired knowledge. Do others do the same?
Only the other week I was chatting over the fence with the neighbours and Greta Thunberg was mentioned, so from there it got onto global warming and inevitably I started rambling on about Xtract and what I have learned. After about 15 minutes I got the impression they were trying to decide if I was dazzling them with diamonds or baffling them with bull5hit. They seemed to have a look of bewildered awe on the faces. To this day I do not know as they abruptly turned and walked away when their mum had called them in for their tea.

Will not be forgetting this quote for a while
>>> although unlike Bushranger we kept having to fight off dwarves….
That’s right up there Steve with some of Hottesttony material. :))

Thought I would evaluate my investment here.
So, the footprint of the ‘conceptual’ open pit will no doubt be increased as the outer margins of the ore body contained within are ‘still’ open ended. They will need to delineate the ore body outside the extent of the open pit, so eventually the planning of the production facility, tailings dam infrastructure etc can be done, so as not to make the mistake of constructing over the top of any mineable previously unexplored resource, as mentioned by CB. Which makes complete sense and would be basic good engineering practice on a project now of this calibre. Any more, and at what extent final drilling and feasibility will complete the package which in itself is a company changing asset. If the SE porphyry is as big as the IP and any EM signatures have shown it really will be interesting to see to what extent this new massive porphyry will be proven up and will the process be followed in the same way as the current main part of the resource? Will it be shallow and open pitable? Will it form an extension to the current conceptual pit if the void showing in between has any viable mineralisation? Or, more likely, a separate pit? How about Footrot? So many more what ifs.
Need to put the brakes on and concentrate on the now. It’s hard not to wonder and be very excited where this could go.
As soon as we start seeing meaningful income from the other assets, it will relieve the uncertainty that I’m sure exists, or, maybe it’s an impatient market that are blinded by the 2mt buy-back agreement and seemingly now, will have to wait a bit/lot longer. The last couple of points don’t really matter as the true value will soon be realised. One thing is clear to me is that at some point in the near future Xtract resources will become a mid-tier company. You simply cannot ignore the potential of the two main assets, being the whole Bushranger copper gold project and Eureka with its strong chance of an IOCG.
All good then :))
Unless I’ve missed something?

Simply no!
We don’t know what we have yet and any major interested, will want to see a bit more proof. AA have first refusal through the agreement but talk of hitting the threshold of 2mt to trigger the buy-back is looking to be soon a distant memory as the resource is to exceed this by some margin ‘hopefully.’ Anything found on top of this figure will all be factored into a final valuation.

Further to my last post on this thread
Just found post by captainbob on Friday 12.04 re the what was said at AGM

>> They also mentioned a few smaller projects in Zambia that they are looking to progress, (also further exploration in Manica, as most is untested, and area very fertile with gold, they have several targets,) to increase income for further drilling programs if required, but saying these in themselves would be funded from projected cash flow, and only when can be done without detracting from Buahranger requirements.

So appears that any JV’s entered into will be funded from projected income and not from capital outlay if that is the case.