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Is likely the extra geophysics by drone, planned to help target the recon hole at footrot and over racecourse has been carried out. With the momentum the project has now with duel rigs running, the extra surveying was ultimately, to just bolster the understanding of the ore body so as to better target the current planned drilling phase at racecourse.
Been waiting for some kind of update but reading the RNS again
Xtract Regulatory News. Live XTR RNS. Regulatory News Articles for Xtract Resources Plc Ord 0.02P
It’s seems to me that results of which are not necessarily for ‘required’ release to the market. Which could explain lack of update. As are used to primarily to assist targeting and not for exploration purpose.
With the importance of accurate targeting it seems unlikely they would not have already used the drone.

I really wish it was that simple to sell on the next spike and buy back in when it drops. It’s only a spike after it’s spiked. Very rarely you time it right and very lucky it drops in your lap again to get back in and even ride the dead cat bounce to repeat. Risky way to hold onto total shares accumulated, let alone gain more or take profit and keep similar holding. Not for me but very best of luck to the brave, the profit takers and the chartists. Wish I had bigger balls to trade more of my holding. I normally play about with a few hundred quid day to day to keep me from tempting fate with any of my main holdings.
Invest with your head not your gut.
In general, we all know if you can’t afford to lose all your money in this risky sector then one should not be here! But If you can then what’s the harm in risking sitting tight for a couple or 3 years, it could change you life.

Thanks for sharing that xeiger I was looking into this previously to try to understand the costings involved in establishing a indicated or a measured resource.
It appears the data spacings are slightly different for different types of resources.
For ‘example’ spacing of 40m by 40m is considered sufficient to demonstrate geological and grade continuity in the dyke-type deposit
Is likely the resource will be required to by classed as 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 of the deposit.
Had considered wether indicated would be enough for third party valuation but is more likely a measured reserve JORC is required.

It was a bit funny hottestT
I just found the bit where you revealed your little secret that you was the only person directly linked up to the LSE outside of the city via wireless servers at your house in Kent and had a direct line to commissioner Gordon!

>>>>Give me one reason why I should should let you in on how I predict a SP

Can’t decide if you predict SP based on tea leaves or your horoscope ;) as it doesn’t appear to be based on company fundamentals. Although to be fair you do go on to give your opinion of bear term price target but somehow still managed to sound a tad sanctimonious prior to that.
Come on bud tone it down we would like to hear what you have to say but that last post of yours was hilarious.

Will you now stop prattling on about the share price drop it wasn’t a particularly difficult one to call after such a sharp rise. if you have shorted the stock and miraculously bought back in at 3.2 then well done. But I very much doubt you did. If you are that good at predicting the market and where this will go next, then would you like to kindly share with us your research based appraisal of the ongoing project and give us all a price prediction for the coming couple of months. Then maybe the reasoning behind your price drop predictions. It would be a lot more appreciated if you could make valued contributions rather than the general gloating you are well known for. It really is childishly pathetic mate.

That’s free money, would be rude not to have topped up with it.
Reminded me of the Fast Show chapter who was rummaging around in the attic and found the original copy of the bible!….Which was nice.
I was lured back with a brown envelope last week after jacking in March, the contents of which will go into xtract. Let’s hope we can retire for good soon and then blow the kids inheritance on cars and a speedboat ;)

Was it “lying around on the ground” Steve?
I feel a top up is called for too.

Understand where you are at lucky. Can only try to reassure yourself and other folk that we have only drilled a handful of holes spread over a large area. It has been very good in that all drilling to date has hit good runs of mineralisation. With the geological knowledge that is known now from IP and the recon drills of first phase. We are in a better position to target the higher grades which we know are evident as we have the existing inferred resource. Them grades will not just fall off the cliff so to speak. The next 16k metres of infill drilling of which I believe will be where we are heading will have the law of averages on our side to successfully target and ‘possibly’ revise the JORC with ‘indicated’ classification from inferred as the company methodically increases the size of the resource.
Have a degree of confidence that revenue from African assets will be incoming by end of year to see the next exploration phase funded. If not and the company are required to raise further funds in the interim then it will only be to add value to the project and not the end of the world as the doom and gloomers would have you believe.
Rinse and repeat blah blah blah

It certainly should not be considered a negative that priorities have shifted from reaching the threshold of 2mt of copper in the ground to establishing viability of a open pit mine that will be a valuable asset to have. Giving tremendous leverage in any negotiations that could follow. It is a trump card to hold even if neither of the buy-back agreements are triggered.
If the extensions are proven to be economically viable and can be incorporated into a revised bigger open pit mine we are looking at tier 1 territory.
It will be sold at a premium, to whom is the question.

Very impressive holding Bitcoinbuyer.
As a fellow investor here myself with a smallish percentage of my capital here, I do wonder as to how exposed you are in cobra against how big your balls are? ;)
I certainly see the potential here you would have to be an idiot not to against the current MC
Best of luck

Sq52 > If so, couple of nice bits to have a look at in EL8585. Lonnggggg way to go before that gets looked at.
When it does get looked at will be particularly interested to see what lies around the fault than runs north to south along the very western margin of EL8585. Is it known what historical drilling this big tenement has had. It must cover over 2500sqkm alone it dwarfs EL5574 that’s home to racecourse.

Good spot Ella thanks for sharing that.
Does at the very least show that some regard is held for racecourse deposit among the oz mining fraternity. Along there amongst the cadias and boda.
Hopefully soon to be seen as a stand-alone serious reference to any other regional prospectus

While there is so much more to explore with the extensions in every which direction from the central resource to hopefully expand the pit size. So as it’s not as likely the decision to mine option will be the catalyst for the buy-back, this may have some way to go yet as the resource is methodically increased. Once the open pit has been maximised to its full potential, the dream is a 400mt resource, maybe then, we will see what happens with Anglo or at least have a better understanding of the project value as a whole.
I prefer this as a more realistic approach than to try and second guess grades and cut off values.
After all, we are still just scratching at the surface of this discovery and drilling will continue after the estimated 2mt is proven and until racecourse deposit is successfully explored. Footrot will be the icing on the cake.
Agree Steve very optimistic and enjoying the story unfolding.

Along with our super yacht we could be looking at a small fleet of ships looking at the signature again from the IP and the 3D model. I would be very surprised if the grades were disappointing overall and we didn’t exceed 2mt by some margin. Looking beyond this, the next steps will be to realise any potential at Footrot which it seems to have a positive vibe about it. It could be the mother of all porphyry in the shape of an Aircraft carrier with its huge flat deck shallow to the surface.
Then only the aero survey will tell us what is in the corridor……sorry, shipping lane between the port of racecourse and the bay of footrot. Ahoy there captain Bird, watch out for theiceberg, or is it yet another porphyry! Hit it and you will be rowing to safety with your prospect ‘oar’ unless you’ve sold it already, in which case give that man a inclined cigar as I would have retired early by then.

Hey! It’s possible…and not just a silly analogy.
Ok I’m done :)

I would say inferred would be sufficient to see what AA wanted to do. But ultimately any resource would be infill drilled and have all the supporting evidence in place to get a JORC compliant revision worthy of third party valuation.
This appears to be the intention with reference to start infilling if grades are good.

I certainly don’t profess to be an expert but understanding is they would maximise the full potential of the existing resource inside the margin of the current pit model. A revised JORC would then underpin the work done to date.
Then, “if” recon holes in the adjacent anomalies show they have the potential to add to the open pit. Then the model will be updated and further infill drilling will be required and so on.
As for the amount of infill drilling then that is a grey area as only the lead geologist will understand the required intensity to be geologically confident.

Ella. That was how I recalled it that the aero survey was to cover more ground to try to understand if further porphyry were evident. Geographically it makes sense to identify anything in between racecourse and Footrot.
Certainly of interest as to when this is completed. Will have to wait until then I guess to see the extent of surveying.

Lucky520- your first question got me thinking as to what the below paragraph taken from the Footrot update RNS, actually refers to.
>> We plan to undertake further geophysics using drone technology over the Racecourse “project”whilst identifying the best drill site to test the Footrot geophysical signature."
I believe this would include the 7km in between that you question.
What do we know?
Bushranger project covers all tenements including the ones not included in the buy-back agreement. The Racecourse ‘deposit’ is what we already have that includes the existing JORC resource and is this deposit alone that needs to hit target of 2mtCuEq as per the agreement.
Now, someone tell me if I’m wrong, but the Racecourse project refers to the overall tenement that includes Footrot and covers the whole 500sqkm within.
If I am correct and it is their intent, then we should soon get an indication if further porphyry are present.

Lol don’t ask

Footrot I’m hoping will be surprisingly good as the insistence from Colin to stick a recon hole in it regardless of what is found at racecourse. Even if all the remaining drilling is used to start infilling to realise and increase the existing open pit potential. They ‘still’ want to stick a hole in there. There seems to be an air of confidence about footrot. And as these type of porphyry are found in clusters the Hope would be to find further in between along the 7km corridor. All easily accessible from racecourse by cave mining further down the line. (If economics dictate)
Footrot I’m hoping will be surprisingly good as the insistence from Colin to stick a recon hole in it regardless of what is found at racecourse. Even if all the remaining drilling is used to start infilling to realise the existing open pit potential. They ‘still’ want to stick a hole in there. There seems to be an air of confidence about footrot. And as these type of porphyry are found in clusters the Hope would be to find further in between along the 7km corridor. All easily accessible from racecourse by cave mining further down the line. (If economics dictate)