Member Info for howezap

Really encouraging exploration results that affirms MRE4 upgrade will see considerable uplift toward the viability of mine extensions.

There’s a lot to take in!

But initial take is they are getting more confident of bringing more into the mine plan through increased understanding of their approach to exploration and mine development.

Initial under reporting of grades could have a significant impact on the resource.

“we remain confident in our ability to define additional high-grade zones and optimise our production strategy.”- JG.

Referring to increasing throughput rate no doubt

When have I ever said BR was worthless? Where the hell have you been?

I understand now why, so will leave it there.

Respect, Guy

Trying to understand if you are just another disrupter or are a genuine disgruntled shareholder monty. The last we chatted you mentioned 35p SP would make you a millionaire. Or are you just a bull5hitter that constantly talks nonsense. Tried to engage but clearly you are not interested I will p155 off now then.

You are clearly p155ed off monty but there’s no excuse to start being sbusive toward respected LTH’s.

Can I ask how many shares you have?

Fully agree JDAU I posted very similar on TG and was going to copy in here but you pretty much nailed it.

You really are clueless HZ....

It is you that is clueless boudica, I never said the numbers didn’t need to stack up, I’m telling you the model is not robust as is still based on many assumptions from the resource model.

Best, Guy

Don’t be ridiculous it’s still only at conceptual level but much work has been done toward pre feasibility study level already. BR will need another 10-20million spent to get it to PFS then similar to more, to get a DFS. There will ‘then’ be the justification to support financing the projects development.

The updated study is still only base case and part of ongoing measures to show the viability of a mining plan for Bushranger.

In the ‘preliminary’ Optimal mining study that followed up on the original 71mt JORC and solely based on ‘that’ resource, Optimal concluded amongst other things that, Optimisation of the processing plant capacity, capital cost, metallurgical recoveries and operating cost will improve the economic viability, and further opportunities exist to:

 

- Increase the size of the current Inferred Resource which will be critical to project viability.

……..( it has done this, it doesn’t state that by just increasing the resource, viability will be definitive )

- Analyse lower production rates, such as 12 or 15mpta.

.…..( due to the low grade bulk tonnages, mining rates will need to be 20mtpa as stated in the latest updated study, but production rates such as 12 or 15mtpa are currently being examined with pre-concentrating the ore feed to to mill, the study work for this is still currently ongoing. When final optimisation is done, results will be fed into that current financial model to update. If positive, co&rsr particle flotation is looking very favourable to achieve that)

Current financial modelling is just a snapshot with BR development being on par with what has been laid out in that preliminary study, they have not concluded all recommendations from it yet.

The optimisation phase can be extensive, but BR is still at a low technical level, so the financials are not going to need to be robust, they just have to show an acquirer/partner a confidence to justify taking the project onto its pre Feasibility study. Wether take it off us or help us do that.

XTr have only scratched the surface of what is at BR.

“There must be 100 delistings now from AIM in the last 12 months.

The traits of these companies are:

Loss making, with shares at lows.

Therefore they are burning cash and struggling to raise money. Avoid these companies, there will be more.

Also its pointless any company raising less than the cost of being listed on AIM, which is £300k - £500k. If it raises a red flag immediately if this amount is being raised.”

Is good advice I found that you would be hard pressed to disagree with. Can any disgruntled investor here not see the safety net the staged income payments are having under your capital. You may much prefer to be out than in, but at least XTr should come out the other side in a strong financial and potentially very advantageous position to peers to see your capital again. We are in a war of attrition on AiM , it is long over yet.

Hey Monty yes, I’m GS is my real name and is username for all other platforms I use except lse . Was going to switch so we’re all the same but never did. Occasionally log in by mistake on tablet.

I’m quite open to revealing that I’m howezap when on TG ADVFN GGPChat etc

Nothing underhand, I should prob delete GS here though

👍NtM

Not ideal no, does it really matter? No, not really, is not a bad outcome to stagger payments further if it ensures mining can continue and we still get paid that is the most important thing. Keeping a smooth relationship by revisiting repayment terms is not uncommon. This will give MMP a bit of a buffer to help them transition.

We still want them to succeed!

It’s better to cut some slack than start posturing over previously agreed terms and upset what business rapport there is. Don’t forget, if the worst happens, with a worst case scenario, MMP are forced to relinquish the minings rights to Manica, they will still own the plant! So we may get the license back but then what? As they sure as hell are not going to leave it behind, certainly not the hard rock plant. Plus if there is any legal challenge would not be cheap and it could be drawn out, repayments to Xtract could be suspended and any interest payments to xtract frozen leading up to a final outcome in a Zambian court.

It’s not an optimistic view it’s just common business sense and practice in any sector.

“Freddie. Respect is something you have to earn, you haven’t.”

Not with clickbait 😉

Folks, look here, I’m a reasonable chap, I am just like you folks, I'm just a punter same as you. I want all of you to make money with me. Rumour has it that Looner Mining recently acquired the Craters Project located on the light side of the moon from a bloke in Nigeria that just needed a couple of grand to cover legal fees to release his multi billion dollar inheritance.

Looner have concluded their due diligence using binoculars and confirmed the presence of hundreds of open pit mines that were abandoned several million years ago by aliens who moved into black hole harvesting during the last super cycle. All other infrastructure is a mere 250,000 miles away on planet of Earth.

Resource estimates indicate several zillion tonnes of moon dust with grades of up to 100%. This is incredible because, as the bloke from Nigeria pointed out, moon dust fetches more per kilo than saffron on the Chinese commodity market, where it is highly prized due to properties that cure baldness, stimulates rapid weight loss and gives men erections harder than Sheffield steel.

What's not to like folks come join me, flip those GGP shares before they definitely dual list and dilute you to oblivion before delisting altogether from London taking what’s left of your children’s inheritance with them and pi55ing it up on Bondi beach. So let’s make some real money, especially you Stebol because that post made me laugh. DYOR GLA

“During nine years of operation, this high-grade gold mine produced approximately 10,000 tonnes of gold.”

Don’t usually cuss but f¥€k me!

At even 28g/t contained Au the throughput rate of ore going to processing would be 32billion 666million 666thousand tonnes per annum with a 95% recovery factor included.

So somewhere lying around on the ground within a bloody great big tailings dump there is still 500 tonnes of unrecovered gold valued at 30billion left!

But then again when you’ve already earned revenue of over 300billion at then historical gold price you probably wouldn’t give a 5hit, mere pocket change.

So……. to return back to and as a reminder of the parameters of real production revenue forecast range.

40-50k ‘recovered’ ounces stated by Eddie Wyvill are expected with phase 2 final flotation from mid to end of year.

All the parameters are well documented to back this up, nameplate capacity, head grade, recovery rates and gold prices. Also have the AISC estimates that is stated will range between US$725/oz to US$910/oz from historical and ongoing costing, to start deducting costs.

So working out revenue potential is easy enough until you try to factor in ramp up progression rate and changing gold price. But it is going to be a ‘lot’ of money! Just not in the billions unfortunately.

Garson, dos beer por favour 🍻

Just to back pedal a bit -

“To quote SD.” Any take over would have to be at an eye watering price” or words to that effect. Don’t forget you will also be voting on such an outcome. I am sure most would accept an offer above ATHs. ATB Speedy”

Hi speedy there is a good point to be made here, any mid cap with a quality asset will be vulnerable to M&A as majors continue to aquire existing operations rather than develop new ones. Greatland will be on the radar of many of them particularly more so now owning the farm.

So for Shaun to sit around the negotiating table and have to apologise for a poor market cap will never be a great start.

Agreeing a price for an acquisition tends to be at a premium to the current share price. So will never be at 400% premium, but fortunately a major would not consider taking on a major asset the scale of Telfer/Hav for that kind of money without its DFS and potentially not until the UG infrastructure has been completed to start extracting first ore. The majors only buy guaranteed success for a top premium. So it will be essential to see market capitalisation rerate at or before those key milestones so the company are not as vulnerable.

Greatland are well safe for now but the news to come from the company will continue in a saturated PR drive to achieve the most exposure possible to the oz market particularly. Everyone will know about Greatland.

Can they do it? You betcha, it’s not their first rodeo. An experienced management team has been assembled to develop and essentially increase the value of the company, that is their responsibility to shareholders.

The share price will catch up with ASX peers as big buyers look for value.

Best, Guy

Bit of a mooooooot point now anyway, got to mooooove on let’s hope the udder assets are worth it or I will have beef with the man.

Don’t really think it works like that, license holders are basically just custodian and until gold is extracted it is still owned by the state. Xtract would have just owned the classified JORC/SAMREC resource classification. So without means to get at it and funding availability to invest toward, then a net royalty was best they could have achieved.

“My question is what are these "unknown" trades? Buys/sells?”

The unknowns are trades that are executed at the mid price. Other trades are reported as buys or sells depending on which side of the mid price they are executed. Hence why a trade known to be a buy, had been reported as a sell. Happens quite frequently when you don’t use a buy order, instead the auto best price option to buy is used.

Always use a buy order set below the mid price!

Where XTR were concerned in striking the MMP deal, a net profit royalty allowed for a larger scope of costs to be deducted by NMP which could have included capital and financing costs before the royalty was payable, opposed to a gross royalty. The MMP plant already had $11m spent on it and was the key reason supporting the rationale of XTR agreeing their particular Collaboration Agreement and royalty.

Where XTR were concerned a net profit royalty allowed for a larger scope of costs to be deducted by NMP which could have included capital and financing costs before the royalty was payable, opposed to a gross royalty. The MMP plant they supplied already had $11m spent on it and was the key reason supporting the rationale of XTR agreeing their particular Collaboration Agreement and royalty.

The Empress royalty was totally different as is a royalty ‘stream’ as they provided up front funding in return for an agreed percentage of production. XTr where not in a position to negotiate a royalty stream then. MMP were in a far stronger position, so have had the upper hand so to speak from the start.

We haven’t yet considered that MMP did not want to enter into further negotiations regardless. Why would they when they have probably sought extra development funding through Empress or other and retained full operational control. They could have strategically ousted XTr leaving them no alternative by out manoeuvring Coliin. That has got to be a realistic alternative reasoning. ??

This news void is killin me James really don’t know what to say to all your valid points.

Guy

Fair one 👍 But it was clear they could not have continued under the current deal structure, the only way to have got some operational control or increased share of gold was to invest into ongoing operations and infrastructure at potentially with ridiculous dilution or stifling debt. No thanks.

XTr are not a royalty stream type company, but did what was necessary to monetise Manica until it was time to seek value elsewhere.

Time will tell if it was the wrong decision.