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Fair analysis Cyberiachas, out with old money in with the new, the next investment cycle could come round again once we get a JORC revision as a glut of folk take profits, or at 10p as investors can be quite predictable. Most will have some kind of strategy, I can recall theiceberg stating he would sell at a ‘certain’ point.
I have re-evaluated a few times now, I don’t know what that means anymore. All I know is I am probably over exposed here but feeling more and more confident to hold long and keep averaging up now from here. The hard part is knowing when to eventually sell or take profit if you are greedy like me!

Only the other day we were discussing a possible IOCG occurance, early indications at Eureka are supportive for sure. With the initial assays today from racecourse that show very good economic grades over very decent length too. It does make you wonder. Good traffic today proving word is slowly getting out.
Has it de-risked? Certainly in the eyes of medium to LTH’s. The updated conseptual pit may stir things up a bit. The wider market that understands the cycle of the discovery phases will want to see evidence of future funding for this to really take off. But for now these slow steady rises will do for me. More sustainable and could see a decent run of blue with less retraction as results land throughout October.
Xtract are doing everything they can and being transparent with the market, they have very experienced geologists and management team that have been there and done it before. That’s all can ask, the market will do what it does.

CB seems confident of a resource of 400-500mt from conseptual pit!!
That’s without the big target identified to south east. Which could potentially be included in a pit extension. If colins confident,I don’t mind admitting I underestimated the size of the lump!
Damn good news to hear an updated model will be available soon. Look forward to that.

Indicated or measured?
The main difference is that an indicated resource can only be converted to a probable mineral/ore reserve whereas measured can be converted to a proved reserve. Measured supports detailed mine planning and final evaluation of the economic viability.
You wouldn’t spend millions on your new super yacht if it was advertised as ‘ Probably a Lurssen’
So certainly unlikely an increased ‘inferred’ JORC will be enough.
We can only wait for all the pieces to fall into place.

Agree billy slow steady gains daily will less likely retrace. Bye bye sub 4p

Quote of last week,
>>There’s someone who can verify my purchase back in 1991.

Brilliant HottestT it’s not that i don’t believe you, but your mum doesn’t count!
Missed that one over weekend well funny

Cool, xeiger just shows we care lol.
We may not have to wait too long now for first of the assays to be released.
7am in morning anyone?

Correction I said 500sqkm is 69sqkm all tenements equal the 500.
Ella, re. 15.51 in the presentation it states ‘prospect ore are in the process of purchasing a 100% interest in the exploration tenements from AA. ‘ Do we know if this has been done as they would then, potentially be separate from the existing agreement.

Another one for you Ella,
Daniel Craig stars in the new James Bond film as BRD-21-007 in “Ella’s Gold”
Out soon!

Don’t believe that is the case BH.
The 2mtCuEq is just a target that AA’s interest will start. It is not their call to’ jump back in’ when we have a updated JORC of around the 400mt mark as the revisions are increased along the way as the proven resource increases.
If the BOD decide to sell part of the asset to further fund the successful exploration of the remainder of the license area it would be through a JV that CB has always been against. Otherwise the ‘racecourse project’ EL5574 which contains footrot and covers 500sqkm will be fully proven before going for 3rd party valuation. The agreement just gives AA first refusal.
As you say AA or any major don’t prove up resources they buy them. Xtract will not give asset away and a major will not touch anything that is not a measured JORC that is ultimately converted to a proven resource. The choice is ours and CB has also stated we don’t have to even accept the 3rd party valuation which ‘could’ potentially void the agreement opening up opportunities to offer to other majors such as Newcrest who are in the region.
So I don’t think we are close to a sale yet at racecourse.

Myself too shorn, certainly don’t profess to know any more than the laymen but IOCG can be as little as 10mt up to 4billion :)

Will be interesting to see how the company intends to plan the next discovery phases between Racecourse and Eureka. With the central resource that lies inside the ‘current’ conceptual pit at a rough guess being 50-60% proven. Also having the extensions to the east and the south east to be defined and proven plus there are the potential of further porphyry being found within the tenement area and not forgetting Footrot.
If the IOCG is confined at Eureka, could it be more likely that a sale of the asset there would be more likely, as would not necessarily take ‘any where near as long’ to prove up and would have a major, readily willing to start negotiations on what would become a valuable asset.
Proceeds would pay for the ongoing exploration of the entire ‘Bushranger copper gold project’ including the other tenements held.
One of many ways this could be played out over the next couple or 3 years.

Welcome orangecannon well timed entry after the recent falls. Huge potential here now on two fronts with racecourse and the potential IOCG occurrence at Eureka. Either could be company changing assets.

‘Ella’s Gold’ the new docu-series on Netflix out soon ;)

CaveatEmptor last posted only this morning.
News, not as frequently these days but posts after the odd update here. Spreads him or herself about a bit these days recently active over where the co. recently announced a ‘massive’ sulphide deposit

I agree with you docit but the hottest of the hottest has also said this is never going to reach the high of 9p again!
Now I don’t know who to believe ;)

A444- yes Gixxer-600 was a regular poster, knowledgable, very witty but doesn’t mince his words. Here’s a few of his quotes,

'I just don’t believe he’s that stupid. Well, I hope not !'

Bird didn't look too well, he often really fecking winds me up but take care old boy!

You really need to sort your s**t out and provide a detailed update Bird

Critical of CB as a long suffering LTH. I’m sure he would be, or hopefully is suitably impressed with the current positive news from Eureka and other ‘satellite’ mines
Ditto hope you are well Gixxer

So what do we do next? Colin asks. We start to prove up the open pit.
Would think that would mean the conceptual pit firstly, not certain on that one. From bout 7min 30sec
This system is getting bigger beyond expectations as we go, first time Footrot was not mentioned! Wonder if is still the intention to drill a recon hole there in phase 2

https://embeds.audioboom.com/posts/7947383/embed/v4

No posts from xeiger on here in 3 weeks, has not posted elsewhere it seems. Was a regular consistent poster, hope you are well bud and have not sold up and moved on
Regards

Over at ARC Steve I noticed in their RNS that the drill cores are being processed and will be sent to labs ‘imminently’
Really dislike that word!
Claim that’s one of those words you refer to

>>>>...... 2mt open pit?? Excluding the deep stuff and foot rot!
It will be a big ask to hit full on 2mtCuEq from open pit including the extensions incorporated into the fully extended model.
A big mine of 400mt is CB’s dream so not too far off dependent on grades and cut-off of course.

Is possible they would hold off a final decision on the next block of 8000m as CB did suggest if the results are good from the first lot they would consider infill drilling.

Very fair comments 3cardbrag
Would not disagree. Is fair to say the results are certainly positive. How they interpret is not necessarily straight forward to understand , for now at least or until an IOCG is confirmed with further drilling. So maybe with the focus on Racecourse, the wider market is holding back until there is more significant news from there. Maybe assays at first, but with certainty if are good enough to add strong economic value to the pit model. Then income from Africa……….
What will it take?
All the pieces are falling into place and we have not seen any duffers yet!

Be interesting to see today if the ‘very’ positive Eureka RNS yesterday will have had time to be have been digested by the market.
Can we expect an update on theiceberg’ blog?
Significant enough results for one me thinks.