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Having just listened again to the latest vox markets interview. Colins makes reference a few times to the protocols regarding the assays. I got the sense these protocols were not followed correctly during phase 1 possibly contributing to the delays we had. Even though at one point he stated they “knew the protocols before.”
Overall, to me, it appears to be encouraging that the next drill assays should not suffer the same delays.
What do other folk make of his comments or can shed some light on the ‘protocols’ and what would they involve.
13july @8.45mins

https://www.twitter.com/ZaksTradersCafe

He sums up the position we are seeing here quite well. There is an air of impartiality now in his writing for earlier pieces since informing us he is mainly invested in xtract. Felt more would have been made of the IP at racecourse and it’s potential. Still positive though.
It’s clear he reads the xtract board as does Colin.

Had a wry smile at his comment, “a better class of investor’ might be taking a look”.
Don’t think he’s referring to me

Yep totally agree with you Stevem just need to sit back and relax with the confidence the drilling with prove successful and not set too high expectations or assumptions as to frequency and timing of news.
I’ve already turned into RampyRamperton after loading up ;) If we carry on we will have to change our monikers to Waldorf and Statler :o

Jez2 As been said previously, we have been informed already that drilling will commence ‘around the 15th’ would only expect news on completion of holes now, with findings and core logging confirmation along with a, ‘drill has now been moved to…’ update within.

Come November we could have a tier 1 mine to showcase.
Hats off to CE who I believe was the first to advocate a open pit mine scenario way back during the first 5 recon holes.

In the words of the greatest ever TV detective! “One more thing”
There is the “Buy Back” option held by Anglo of which represents an excellent mechanism for capturing value upon exploration success and returning that value to shareholders. (from agreement)
Now, I don’t fully understand the mechanics of the buy back agreement as all tenements are owned by prospect ore (subsidiary)
But, beyond this chapter and for added longevity for this stock, there are still the adjacent tenements to EL5574 to explore that are part of the Bushranger copper gold project and ‘not’ included in the buy-back agreement. Exploration was earmarked with a budget allocated in the year 1 proposal (this year) But as racecourse has shown to have far exceeded expectations in size and a potential multi porphyry system I would guess this has been put on hold for now or more aptly, put on the back burner.
(Not a drunken ramble)

I think where the stock itself is concerned, with the growing size of the main discovery that is racecourse and with it now, the optionality of having a large open pit mine. There is the potential that this stock could have some decent longevity with rewards to match. One of the major issues that can hold back stocks such as this is funding, as exploration can be very expensive. With other assets in Africa that will see revenue coming online before the end of the year and a recent placement out of the way that should finance the next exploration drill phase that is due to complete then. Further exploration beyond then ‘should’ be self funded. So good news out of Africa in Q3&4 is key to strong performance too. There are risks involved with this stock, as you would expect with any exploration mining, but overall has derisked from first drill phase.
And consider racecourse, which will be the main driver of this stock, is in one of the safest mining juristictions in the world complete with infrastructure and utilities nearby.
Now is a very good time for new investors to come onboard.

A warm welcome to you schalf
Best of luck with your investment

Cheers for that recognises some from Argo
(Not invested)

I can see your reasoning Steve but I still understand it to be that the team has returned and completed what they were obligated to finish regarding the couple of remaining lines to south of racecourse, I don’t think you could consider them as additional. In interview back then, Colin had stated they would be returning to complete.
Will be good to see any additional IP anomaly graphics that have been completed. No doubt once all data is processed they will be released.

Why does it do that?
Is **********

https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-colin-bird-executive-chairman-xtract-resources-ac8863c/

More strong evidence to support what is already suspected at footrot. Drilling will confirm a further porphyry.
Still early days but if that is the case and it does look positive, I would not discount finding further porphyry’s in what could be a potential porphyry corridor leading back to racecourse as is typical of the distribution of these systems. Similar to the cadias and boda.
Early days like I said but one for the bigger picture.

Thank you news glad to see you back, appreciate your insight and inputs for historical reference particularly.

Was expecting funds to be deposited in morning so missed out on 3.7+ C’est la vie if we end up back down there at end of the week!
Not complaining though considering was my initial mistake in not cancelling contributions into my pension fund that caused the 6 week or so transfer delay. So I could have paid around 5p+ looking back.
Got to ride your luck sometimes

Happy to have paid an average just under 4p with two buys that hits my target price to average down to. Kept a decent tranche back in case of a retraction tomorrow.
Has the tide finally turned?

RNS states-

full review of the recently completed MIMDAS IP/resistivity survey has shown a substantial area of strong chargeability closely adjoining the south-eastern margin of the Racecourse deposit,

As there is no mention of the survey team still to return to complete the lines to the south they were unable to complete previously, due to ‘operational reasons’
Maybe they had returned and completed them.
Seems odd to report on IP without mentioning that outstanding lines are still to be completed that would potentially extend what’s reported in south east

Will be an interesting start to the week. Also to consider, with such a big game tonight with most of the nation behind an England win. If they do, I wonder if the feel good factor will encourage some buying. Or will the nation be so hung over no one turns up and trading volume will be low Monday?

andmillsy stevemocal - thank you both
Similar story Steve, I jacked in April at 55 from project managing in construction. But will prob do another couple years or at least until my investments say otherwise. Heavy in xtract, way overexposed but have confidence xtract will give a good return. Look out for 2-3 501k buys Monday or Tuesday as will stick to my plan of averaging down to 4.5 ish and doubling up ‘if’ can get orders filled. Seriously did not expect to be back down in 3-4p range.

Best of luck to all in what could be a pivotal week or two ahead.

Believe it or not, I am sitting up in recovery after having an op and had found myself not being able to resist checking in on the share price and of course the great BB we have.
To say the xtract story has gotten under my skin is an understatement. What a topsey turvey week.
Best let the family know I’m ok now I suppose ;)

Can chill now over weekend and maybe watch a nice relaxing game of footy :)