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hey ntm going by the bzt lse recent chat it states colin has been buying elsewhere, bzt, jubilee but that possibly could be galileo and kendrick. not checked this myself tho.

but why i hear you ask not his beloved xtr?

pick a reason any reason i’m sure there will be some amusing ones to follow.

but if you consider that br is at a seriously important phase waiting on results of pre concentration, particularly the co**** particle floration that if favourable will allow further financial and technical optimisation to be carried out that could see br being a viable mine. the circuit can be incorporated into the flowsheet design and potentially a decision could then be made to go to pre feasibility which will really highlight the potential of the project to the open market.

so the importance of this phase of pre concentration cannot be underestimated, it could very well be considered as insider trading whilst these important project defining results are impending.

5hit storms are brewing elsewhere. Could see the AI tech bubble pop anytime and will see billions released by investors looking next to the resource sector. I’m no economist but listening to a financial analyst would appear reasonable to expect. As would be the demands on copper increasing you would seriously expect to happen at some point.

It’s gotta turn soon this is pure carnage!

Billy, running costs were just over £1m for last year, that figure will be reduced now due to Manica disposal. Figure is inclusive of all staff pay, admin and other op costs. You are just making it up as you go along now with baseless assumptions.

I’ll meet you in the middle and suggest that if at some point they decide to do a 3rd exploration phase at BR which a sensible estimate of £2m give or take should cover, they ‘may’ need to look for funding from market. Although that is not likely to be anytime in the near future as they don’t need to while waiting for copper price to sustain above $11k to attract interest.

But they don’t need to raise funds through dilution. They can plan work programmes and allocate funds for the next 3 years confidently unless Manica disposal terms of payment are breached.

Is that likely?

Don’t quite think that’s the game Billy, they have just revised the terms of the incentive scheme for staff etc. which primarily is to give bonus linked to company share price. Jamesiecakes highlighted in his AGM feedback post 31 Jul 2024 14:23

The company will need to be sitting on a stronger market capitalisation when entering any forward negotiations for selling an asset or seeking equity funding. They will have an extremely weak hand otherwise.

Most can only theoretically average down. As to work out average you need to know how much total capital invested.

Either :

A- Don’t want to know

B- Too scared to know

C- Dont care

D- Way past caring anymore

E- Don’t understand the concept

F- Too ashamed as it would mean admitting the true amount to loved ones and the fear of certain retribution.

G- Who gives a rats @r5e, it’s only the kids inheritance.

H- Blind faith in your own investment strategy accounting for these little hiccups along the way

I- None of the above (lucky B&#!@¥€)

😂 obviously not you then Billy.

Best

Toenails

Ignoring all the other gumph, juniors do live and die by the drill machine, that is the single most important factor toward creating shareholder value that will be the catalyst for a positive rerate. Xtr are fully funded to do just that and will be streets ahead of most other juniors, and nearly all of ‘those’ in that xtr can ‘self fund’ its exploration commitments ‘without’ dilution!

Who wants to join the 1% club and take that leap of faith? You know it make’s sense 😉

Hi Andrew

CB must have felt he was just p155ing in the wind with the marketing as the massive rerating was happening in the junior sector over that time. So much so he told us he just decided to stop worrying about it and gave up trying to rally the share price in what has been an illiquid market for the last couple of years at least.

Hopefully for us all, the turnaround is in site with historically, now being a quiet time anyway with markets coming to life again in September which fingers crossed will coincide with the commencement of drilling in Zambia and a change in sentiment overall as buying returns.

Prob right about rehashing old points, and there has sure been many! Has all been good constructive dialogue nether the less, is better than no dialogue at all.

Best

Guy

I could be swayed in leaving the 1% club if you could back up your opinions with some evidence.

Accepting the deal for less than we were offered before is reflected in the fact that over half the open pittable ore had already been mined. That’s a fact, as for the deal not being watertight can only speculate.

CB still has the industry respect and clout to be able to position Xtr in the race for these highly prospective licenses in Zambia.

Tolai Sukumba CEO of Coooerlemon has personally appraised Colin for his ethic, consistency and reliability from working with him before so choosing Xtr ahead of the majors that Cooperlemon have, worked with already in AA and Rio.

This endorsement shows their utmost confidence in Colins ability to run Xtr in line with the terms of their JV.

I’m sure they would have gone elsewhere if they did not believe Colin was not up to the job.

Appraisals of all the group companies and assets that’s all neatly bundled together for you by Charles Archer.

https://miningaim.co.uk/the-colin-bird-portfolio

Appraisals of all the group companies and assets that’s all neatly bundled together for you by Charles Archer.

https://miningaim.co.uk/the-colin-bird-portfolio

Appraisals of all the group companies and assets that’s all neatly bundled together for you by Charles Archer.

https://miningaim.co.uk/the-colin-bird-portfolio

Appraisals of all the group companies and assets that’s all neatly bundled together for you by Charles Archer.

https://miningaim.co.uk/the-colin-bird-portfolio

Appraisals of all the group companies and assets that’s all neatly bundled together for you by Charles Archer.

https://miningaim.co.uk/the-colin-bird-portfolio

Thank you for feedback James, just hope Kakuyu does not drag on progress of Silverking too much. Could potentially explain why it might take the 18-24 month timescale offered by Tony of Cooperlemon to get mining up and running at SK

Could well be that there is now some confidence in the pre concentration studies to bolster the economics of BR to get the free cash flow margin up to a more desire able level without the need for increasing the ltonnage.

Interesting, with again the mention of an IPO as a way to raise equity certainly shows a positive intent to make the decision to go to PFS, to pull that off it would certainly require a positive economic study with promising numbers that stack up. So could bode well for current studies results, as they seek the best method suited to BR low grade with the understanding this time round of its amenability from the first round.

For balance, If not good enough, then the plan to minimise annual spend may have to change which would not be unusual.

Oh and BR isn’t at altitude or off the grid.

See that too Bob and to consider from within it,

The Josemaria project is to be developed as a large-scale open pit mining operation. As currently envisaged, over 1 billion tonnes of ore will be mined at average diluted head grades of approximately 0.30% copper and 0.22 g/t gold.

Which is a good sighter for the eventual scale that BR could readily achieve with its multi porphyry localised system just within the 3km corridor from RC through to Ascot. If the western lobe next to Ascot is mineralised (why wouldn’t it be? If one in a cluster is mineralised then generally they all are!) then along with Ascot that just requires fully delineating then could well see in excess of a mineable 1.5b tonnes of rock in a mining operation that will last for many decades.

Not saying xtr will prove it all up but someone else will surely want BR.

Delineating over half a billion tonnes of copper and gold mineralisation and then completing the scoping and open pit studies for it, is a very significant industry milestone in the real world Ben.

It now allows the company to fully understand what is required to do next geologicaly, where further optimisation can benefit and importantly where further project value can be added all towards getting it to an economically viable mine. They now have a solid foundation to work from and now know exactly what they need to do to achieve it.

You only have to look back at other large scale mining operations of their early project evolution to see that BR is no different, maybe with the exception of the lower grades of which pre concentration studies will hopefully result in that grade uplift necessary so the near future economics are not too heavilly reliant on increasing the resource further to achieve the desired results.

Its likely that Silverking has just taken precedence over Kakuyu due to potential return on investment and is maybe less complex. CB said Kakuyu is now an exploration project so they can fully understand what is there. One point he spoke about a seperate op to mine the Cobalt, so there is clearly a lot to do if thats the case and they would maybe not want to commit yet by overstretching resources. Or......yes it could be a duffer so if someone could kindly ask to put me and Ben out of our misery.