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No…. Why would xtr need to raise funds was my question.

Art have you even bothered to read the leading paragraph on the company website to just have the most primitive understanding of what it is an investor is buying into and more importantly why the company has this strategy?

No it’s not going to happen overnight

Why?

Is highly prospective, that is clear enough from Glencores involvement that it was confident enough to put work into silverking. Their involvement appears then, to have been targeting a tier 1 deposit. The JV’s ideal ‘target’ is toward a far less significant in relative terms, but however very significant in outlining a resource of 500mt in line with the strategy.

Plenty of good indicators from the induced polarisation, particularly indicating the potential of a bulk tonnage halo around the high grade breccia zone. This could prove to be really significant too in the viability of any resource found. The bulk tonnages are crucial to extend any mines life beyond the initial kickstart of the high grade zone.

Early days but a lot of the groundwork of discovery has already been done and with an initial buy in budget of $500k over 18 months it’s not going to put strain on the treasury.

I can see initial buy in being fast tracked with the second phase earn in of a further $1m for 70% also manageable without dilution via funds needing to be raised.

Timescales are long set, which will give xtr time to work around budgetary requirements across other projects to avoid fund raising to advance Silverking.

Does fit perfectly with the type of project the company are seeking under its growth strategy.

Chinas economic recovery is crucial to drive demand and further expose those global supply chain headwinds. Is showing some promise!

Don’t subscribe to FT, could only read the header. This from a different source appears relevant to that.

>>>China's official manufacturing purchasing managers' index (PMI) surged to 50.8 in March returning to expansion range in March after running below 50 for five consecutive months, the National Bureau of Statistics (NBS) said on Sunday, as manufacturing activity increased with the fast resumption of work and production following the Spring Festival holidays.

The figure, although partly driven by the seasonal factor, showed that the economic recovery has further consolidated, highlighting the resilience of the Chinese economy, experts said, and they are more confident about GDP growth in the first quarter.

>>>That argument works well for LTH but there will be a wave of newbies who are beguiled by CB's sales pitch - and to be fair to CB he is a very good orator

Those ‘newbies’ could well be of a higher calibre that are already invested in any one of the majors that surround the Xtr licenses in the western foreland, that could see xtr as a decent side bet if things look to be going well.

The fact that other small caps with the exception of the CB group of co’s are conspicuous in their absence in that region, highlighted in the latest presentation, will be a big plus in drawing in new investors toward xtr in that the prospectivity is certainly going to be more understood, due to the likes of Anglo, Rio Tinto, Ivanhoe, FQM and kobold uniquely surrounding xtr.

As money returns to the resource sector CB shouldn’t have to go overboard, just keep it professional to attract investors, not put them off. It is these that will help sustain any share price rise.

Fair point Andrew, my only reservation is that a sceptical market will be nuturaly cautious in getting swept along this time round, the more CB shouts, the less the market will maybe want to believe the story. And… he will not have a glut of ‘lock down’ newbie traders this time to bedazzle 🤩 and separate them from their savings.

Apologies to anyone that relates to, no offence.

All I’m saying is sustainable companies will generally, as an example, just release an outcome of an exploration programme or from a batch of holes. Ones that need market funding will release an RNS at the beginning of a drill hole, one during and one on completion of the hole.

Disclosure costs money to RNS

There’s a difference between keeping the market abreast of what’s going on in a timely professional manner, than ramming it down their throats.

Think if we start receiving floods of news flow, that cannot be a good sign, Bobs suggestion would be well received, but wouldn’t want to see a repeat with the Zambian Ops that we had with that ridiculous high frequency PR from early Bushranger as it probably means they could be looking to a do fund raise.

Companies do have a legal obligation to disclose material information, but the significance of such, can be contextual.

For instance, most project updates are relatively insignificant toward an end game. If Xtract gets a good result assayed from one drill hole, they might argue that its impact, relative to the overall operation is minimal.

So for example, if Xtr were to announce outlining a resource, the individual updates throughout a campaign may seem inconsequential in comparison. Therefore, the company can reasonably consider the significance in the broader industry context when deciding on disclosure. As long as this decision aligns with regulatory guidelines and is made in good faith, it's typically considered legal and within their discretion as a company.

I personally hope this is how they play it this time.

forgot to post reply to ****nal221

>>>only thing cb does, as far as value is concerned. is destroy it.

acquisitions that ‘see’ potential to be of interest to majors, projects that have or are advancing through drilling along with all the other technical work, is all adding value to assets. the share price does not directly follow lead from projects status, it is purely driven by supply and demand of those shares and with what’s been going on in the world over the past few years it’s not surprising these types of stocks are not favoured in the present climate, regardless of what is held currently in project portfolios. can’t put mr bird in the same basket as a tin pot dictator and all the other russian revolutionaries that preceded him in causing the same global instabilities and uncertainties this time and witnessed previously throughout history. he’s not that important he could single handedly cause the whole resource sector to crash as it has done. he might crash the buffet at the ivy in kensington but that’s about it!

>>>The plan needs to be in an RNS that’s been legally approved IMO

JB they can never say never that a fundraise will not happen but was RNS’d in half year report that,

…….the Directors do not anticipate the need for funds to be raised in the twelve-month period from the date of authorising the consolidated information.

That was sept ‘23, the full audited report will be of interest to that respect.

Irishdemon 👍

NtM - Alternative three letters ..REP…. Or RUN

Whether clean, or renewable energy. The transition will require copper, which is central to its delivery and storage capabilities. Emerging economies such as India will need huge amounts for electrification alone.

There are billions of people around the world that are not on the grid. This will change as technologies for the provision of renewable energy and the battery storage of electricity is advancing and is increasingly becoming more accessible to nations that require it.

Even the debate on EV’s as to whether or not, they will fully replace petrol or diesel cars in the race against Hydrogen cell vehicles is not a concern to coppers demand. Hydro cell cars are still driven by electric motors, and the new infrastructure for refuelling stations will require vast amounts of copper.

Every twist and turn will see copper being central to it. With nations being under increasingly more pressure as their economies recover to decarbonise and reach net zero to be able to trade their goods and services at a premium.

>>>Until it’s there in black n white writing that’s he’s drilling without diluting again mkt won’t rule out placing.

Plucked straight from this months new presentation

‘Shareholders to benefit from discoveries without recourse to dilution from fundraising due to availability of treasury funds.’

What more is needed Jackbal ;-)

Yes an increased copper price will need to underpin the future viability of BR, but more importantly short to medium term , global economic stability, low inflation and interest rates, will see a reduction in the very costs that will have the biggest effect on the financial performance of the NPV model which the company are currently optimising. A Copper spot price will not have a real influence on a valuation per-sae.

It will of course need leading economies to grow for demand to increase before copper rises sustainably.

I support your view OaW, particularly, as to where Xtr want to be positioned in the copper space. They would have gotten seriously bogged down with buying into the next mine phase.

The upfront costs and relative simpliciy of open-pit mining are much more economical than that of underground , however, initial costs can normally be offset easier from the revenue. Surface mining does have limitation’s though, so MMP likely believe that going underground has proved to be necessary in order to extend the life of mine to be able to exploit remaining ore reserves.

Underground mining’s higher production rates will alleviate the higher initial cost, making it ultimately a more cost-effective method, but it’s clear now that Xtr cannot take the risks involved to get there anyway, even if it was within the companies growth strategy, which it is clearly not. Just wanted to elaborate on your good post 👍

Realised is definately a chatbot

How To Tell If You’re Chatting With A Bot Or A Real Person

Inconsistencies in language and peculiar phrasing can be your first clue.

The English language, infamous for its complexity, often trips up even the most sophisticated AI. Beware of sentences that don’t make any sense and words in strange places–you might just be talking to a chatbot…….. or a Danibot 😂🤗

Hope everyone's making gains and dodging those red days!

You taking the p155

Thing is that recent surge has ‘still’ got little to do with any significant increase in industrial demand. But more down to the shortages of raw material in China. Some copper smelter plants have agreed to reduce production at unprofitable plants due to the shortfall, along with copper concentrate prices being really low, it’s impacting smelters profitability.

Get that bow out !

I know I should get where you are coming from Jez but cannot get over the idea you are implying that CB is some kind of screwed up disreputable Robin Hood character who steals from the poor and gives to the rich. 🤑

Hi 3cardbrag of course I would, but the point still remains that xtr are positioned to be able to have that project diversification which is really important. And, to simultaneously develop each of them further at a pace.

There was a debate on here not too long ago about they should concentrate on developing the Manica resource and not go chasing white elephants elsewhere. Look how that turned out for its fans.

Fact is, not all, if any projects will be successfull, we all know that or should know that! We have had to move on from the KPZ partnership and suffered serious loss of sentiment over the BR timescales. But still, after 3 years there has not been another fund raise as the company has a seemingly healthy enough balance sheet .

Not too long until audited report to see exactly where the company is financially if there is transparency.