Member Info for howezap

Jezzo

>>>>>2 I hope this doesn't turn into a Solgold time line.

Would not be in any doubt that there are conditions or covenants attached to the buy-back agreement that may or may not be in the public domain.
So who knows how things will pan out.
Colin has made it quite clear though that a JV would be out of the question. Unless, it was a ‘very good’ deal.

LittleWing -your post @14.13

>>>>>>howezap... I still feel there is confusion over if the AA option is for just racecourse or all of bushranger ?

To summarise too-
The next drill programme is to delineate racecourse alone, to get to the 2mt CuEq target. 16000-22000m of intense drilling is what will be required to hit target to be JORC compliant.
The intention is to also do some test holes at just footrot. Although not in the budget, to potentially find a further porphyry which will then, as Colin quoted on interview, “will bring another porphyry into play”.
The buy- back option is for EL5547 which contains Footrot too. Let’s be clear.
Does not include the other EL’s which come under the Bushranger copper-gold project.
So can understand from his comment that, if another, or further porphyry are found, they will no doubt be ultimately drilling to delineate them too, as they are doing with racecourse. To get it, or them JORC compliant too as is within the buy-back agreement.

My understanding and desire.

That’s more like it!
All is well and on track. Comment at very end for me stood out.

“It’s not in the requirement to get to 2mt at racecourse alone”

Was a bit of confusion I believe, this hopefully clears up any doubts and surely reduces risk somewhat

Dropping the placing in now was a surprise, but not unexpected given the apparent underestimation previous of the size of the deposit.
Thought would come at some point later. Least it’s out the way now.

Are in a very strong position now to attract some serious investment. The question of funding this next phase was a big factor in wether or not could attract them. Along with the impending results.
But is clear now the BOD have every confidence that this will become a first class find. And will now start attracting the attention deserved.
Great interview too, very assuring.

And all above board too....

Benhowell

>>>>>I wonder if Colin would like to do some basic surveying of the other licences to have something post buy back? Part of me thinks he'll try and sell the whole company rather than start again with IP surveys, stage 1 drilling over again, etc..

The was a sum of $460k in the ‘proposed’ year 1 exploration program budget, earmarked for regional exploration of adjoining EL’s.

Nothing to suggest this will not be started while Racecourse is ongoing.

Hello CaveatEmptor re. Your post @9.09

Interesting scenario. Noted.

Would be good to know with any certainty what the BOD’s intentions are.
A further 3-5 holes I would guess should establish the overall size of racecourse ‘deposit’. That may well be enough alone to hit target.
Decisions will be made after more is known about this system I would think.

Cygnus you are bang on the money. They had already upped the IP survey to 6 weeks. Colin mentions this at the end of his interview for Bezant.
Is a fantastic summary worth a listen if not heard

https://www.share-talk.com/colin-bird-executive-chairman-bezant-resources-bzt-l-interview-2/#gs.yy1taw

7ish minutes in to end

Think the giveaway clue to a further fund raise is when Colin starts using inanimate objects to refer to the size of this pawphry... like mountain or glacier.
Instead of root vegetables, mammalian or fruit.

As far as we know the 2nd phase is funded, so if funds are depleting due to unforeseen expenditure on other projects then doubt would see a placing until after the release of updated 3D model when there should be a significant rerate. Less dilution more value

If it was shown we needed a further fund raise, I could only guess it would be because of the underestimation of the size of this target. And so any further fund raise will only add value to the share

Yeah I reckon he’s bought himself a yacht with what’s left of the 5 mil. Or maybe not and it’s still in the bank ! ;)

<<
All part of the master plan...
What will it possibly be in 18months to 2 years. My estimation of buy-back deal being done. (Hopefully)

John Cornford, master investor, stated within 2-3 years in his mining journal around January time

Question is, how long will it likely take from when the buyer shows their intent once JORC issued. To deal being done?

Early days I know, but with the price of copper continuing to rise and the target getting bigger. Is all in our favour for sure

Think we’re all on same page understanding what’s needed. Is good to get a relevant debate going on quiet days, beats talking about wild animals and fruit! .....melons are a fruit yeah?

I would accept the likely fact that , in general holding back certain market sensitive information does happen and AIM rules are broken or at least pushed to the limit.

Not so in this case, I feel with the quite unique position the company is in, with regards to the 2mt buy-back option, the prospects we already know are far bigger than first thought and simply the timing of this whole process going into a potential alluvials super cycle.

They simply don’t need to gloss over anything. The overall results will take care of themselves. The bar has already been set, and it’s not particularly high! Arguably, this will be a huge resource and majors will be very interested.

So why be dishonest and employ dodgy practices that will put investors off that have seen it all before. Transparency is critical if we are to attract institutional investment.

NicetiMichou
You say,

“my guess from much previous experience in holding Xtr.l is therefore that 'ole 2 assay results are a little/somewhat underwhelming versus 'ole one..”

If I’m correct in thinking, you are suggesting that the BOD have received back the hole 2 assays from lab and wilfully holding them back from release. Ans so , will package hole 2 results with incoming hole 3 to gloss over the fact.

Do not believe they would do this , illegal for starters to hold back market sensitive information and to jeopardise their integrity to prove up the resource would not bode well with any potential buyer if it came out.

Has been discussed earlier in the week here, is very likely the lab, under instruction would defer releasing hole 2 results and when core samples of hole 3 have been analysed. Both sets of results will be released to Xtract. This would tally with the statement made, in the “completion of phase 1 drilling” RNS on the 6th April. Stating “remaining completed holes will be released in batches.” The wording was however, open to some interpretation. This being the case, they simply would not have access to that information.

The other explanation to support your ‘guess,’ would be that the lab has communicated the results prior to release. Again, as above, so have strong doubts the lab would have any involvement in any illegalities that would jeopardise their integrity and credibility.

After all, they are just one set of results of many more, some will no doubt be better than others. All of which will make up the average grade.

No doubts you were just surmising, but felt I should just clarify for others. So no disrespect intended.

Ben- Assays this week ?

Are into 8th week now, hole 3 similar length to hole 1, which was exactly 8 weeks. There has been the Easter holiday though, and a suggestion that Australia had a 2 week lock down at some point. Have done brief search all can find is Brisbane 1000k north, had a 3 day snap lockdown on 29 March. Long way to send core samples so I doubt would effect NSW.
So... can bearly contain myself waiting for this pear of results to land.......next week I’m thinking

I suppose I could have been mistaken, I could ‘bearly’ hear him as my hearing is a bit ‘impaired’

Thought the share price held ok considering carnage on AIM today

Quote of the day from elsewhere....
While replying to a question as to why the CEO of ...... refused to comment on a possible listing on NASDAQ

One great reply was..

No one "wouldn't talk about fight club" if fight club didn't exist!

So glad Xtract have a quality bulletin board without the stuff and nonsense that others have
Hmmmm....

I thought he said “shaped like a bear........with big pawphrys”

Are expecting hole 6 results at beginning of June so timescale for the 3D model release had not been put back any further due to the extended IP Survey. Would conclude around the same time now

Wish that was me, but do have 1m+ holding.
The TR1 was a repost by 1plus1