Member Info for howezap

Can’t decide if it’s ultramarine or Prussian blue?

Either way I much prefer it to the usual ‘angry red’

Https://audioboom.com/posts/8425855-12-stocks-for-the-12-days-of-christmas-5-gold-rings-special-featuring-first-class-metals-incan

VB I can vouch for Pinocchio…..he nose his stuff! 🤥

I don’t think there is any doubt we will be seeing copper in the demands expected. So as long as there is clear pathway for copper to rise above $10 k and sustain it, that will provide the confidence for an acquirer to take BR on. Viability will be based on a long term average or even bottom end price range looking ahead over 10years or so.

So ultimately it will not count ‘directly’ toward an end valuation of BR. Lower interest rates will be crucial toward increasing the NPV that would also include lower CapEx and OpEx and when we start seeing a reduction in power and particularly fuel costs when they also start coming down which will also have a more positive effect on the NPV model.

This is potentially what ‘this current’ part of optimisation is centred on looking into bringing those mining costs down relative to. ?

Has been some kind of correction, although xtr has seen unusually higher volume than late. Bzt up 40% on piddly volume and ccz to name just a couple, is up 20% on two small sells totally £300

Anyone understand this?

Should see it up on the leaderboard which all helps attract interest.

You cannot compare Zambia grades to the oz porphyry grades flipper, are totally different styles of mineralisation with completely different mineralisation trends.

All the chat the day before that, was fair you were asking some fair enough questions under the present circumstances, was some good banter too.

He got sucked right in to the alligator pit after that.

There was nothing disgraceful about any comments that kev posted. All he did was mentioned that CB had told him that FQ had already spoken to him about the licenses. That could mean absolutely anything, kev didn’t imply FQ already wanted to buy them!! As usual many jumped straight on it accusing insider knowledge and preceded to attack kev personally and his professional integrity, for which these posts were all rightly removed including his own attempts to defend himself and also removing his original comment, which to be fair he maybe shouldn’t have chosen his words better, that’s all!

Don’t know whether to laugh or cry jez great retort and so annoyingly true, I suppose I did set myself up there 👏

Thought of a great analogy to help describe what they are trying to achieve with ongoing optimisation of plant and op costs at BR for any not sure what’s currently going on.

Compare the initial CapEx payback mining phase Xtr need to provide with winning a standing quarter mile race on a nice sticky track.

What they are doing now is throwing on some Micky Thomson drag slicks, throwing away the Edelbrock finally, and replacing it with a Holley, some open headers, tuning, tweaking launch rpm, shift points, tire pressure etc, I could go on! It’s all about the launch and first 60ft, hook it up off the line, and half the job is done! If that doesn’t quite give you a desirable E/T then you’ll just have to look into throwing on a huge blower. ‘ie’ go down the further pre concentration route by looking into different ore sorting tech on that high grade, or do a bit more drilling to increase the resource economics and hopefully with a strong tailwind in the form of a rising copper price to finally get it over the line.

‘That’s’ how to get a result in Aussie Gw 👍

Great way to talk about cars too without anyone being able to get too pi55y. Anyone don’t understand the analogy you probably drive an suv or a Tesla 😎

Hey Dani

Doesn’t make any sense does it.

Billions have been wiped off AIM company values since ‘21. Most of those companies that would also include Xtract, that have suffered the worst rerating are those that have had no regular income to underpin a fundamental level of market capitalisation.

If Fairbride plant had not been severely delayed by port closures due to lock down, or any other hypothetical reason that would mean that start up and initial production would have occurred up to 18 months prior. The damage to share price may not have been so bad. Unfortunate timing.

Come full audit in Q2 when the company will have another chance to convince the market with transparent actual cash positive position that will hopefully set Xtract apart from the majority of its peers in this currently abysmal sector. Some positive sentiment might return if hasn’t by then as are sure signs it has bottomed already.

Plenty of news to follow on where and how the treasury has been spent on advancing projects.

There’s an idea Fozzie! To sum up the Xtract journey through ‘23 in three words?

All welcome

I go you go -

Frustration

Negativity

Revenue

>>>Works continue to add value in copper as we coin it in in gold.

We can continue to split hairs on what will be actual cash in bank from profit share will be. But whatever it is I think it is safe to say they will not be saving it up for a rainy day!

Allocating any funds in treasury for ongoing asset development. Putting the cash straight to work, to advance its ‘various’ surface activities, resource modelling, metallurgy etc all toward a glut of studies that will drive projects forward in ‘24 for all the assets in one way or other hopefully.

No reason whatsoever to think work has come to a grinding halt just because news has dried and cb has gone quiet.

Whatever the thoughts are, on what has transpired before to leave the share price where it is now, there is no disputing how the company is positioning itself toward being a sustainable mining company. No it’s not there yet, with potentially a further raise or two possible for major exploration drilling over next couple of years. Kakuyu?

Any ‘major’ Xtract shareholder value, will be more likely returned from ‘actual’ M&A activity through a likely asset sale. Not from a derived target price that could and will be influenced by external factors along the way with the dilutive effect of any further raise to consider too.

Bottom line there will be more positive fundamentals by end of Q2 to underpin a certain level of share price mid term if the board can gain shareholder confidence again and attract investment when the time is right to.

Until proved otherwise that for me appears to be where we are at.

To follow up on FB, two thirds of the whole Identified resource is already amenable to open pittable depths regardless.

Mining consultant Daan van Heerden of Minxcon had said: "The Manica study has produced a robust project targeted toward simplicity and predictability. We concur with managements approach to the concession and agree that the previously announced hybrid approach might have led to enhanced capital and operating risk."

Basically if they can continue to find shallow gold to keep surface mining operations going, it will be relatively risk free, a license to print money, especially if a new sulphide plant can still be justified. They may simply not need to go underground to exploit oxides as the ability will then exist to process outsourced ore, so is a great opportunity for Xtr to increase its interest with an investment in any new or extra plant mods with any of the extra risk mitigated against, by not digging deep.

??

Much of Manica’s ore is shallow to surface, including the transitional and those deeper sulphides that are still within open pittable depths. It is not as though that any of the deeper sulphides can only be accessed through an underground operation. The more shallower oxides that are identified and can be exposed from push backs of the current pit it will naturally allow deeper access.

From ‘23 full report-

Studies are on the way to define in-pit oxide feed material together with general exploration aimed at identifying new additional oxide or sulphide material. We are conducting test work to determine the overall recovery for the transitional material and are optimistic that the cut-off between oxide and refractory sulphide will not be night and day, but gradational. 

So I’m not so sure Bob. One day it may go underground but I don’t see how they are considering it yet or for some while.

RNS preceded the Manica DFS release

https://www.lse.co.uk/rns/XTR/manica-project-strategic-and-progress-report-owa0y87hq9jlyne.html

Hi captainbob.

Manica DFS went under a review by the board to optimise it, shortly after its release. Although it concluded that it will not change anything, it was decided to develop Manica solely on an open pit basis and dismissed the concept of a high grade open pit operation followed by an underground mine. This decision was based on the need in underground development for crown pillars which would sterilise a significant portion of the resource. Weak wall rock conditions underground were expected to require back-fill which would have a serious adverse effect on underground operating cost.

This would likely be the case for the current ore reserves including the satellite deposits too as it was stated as Manica and not specific to Fairbride.

Was in an early RNS, I doubt if this has been re reviewed since.

If it has I have not seen specifics other than Manica being described as an open pit and underground project.

Can any others comment on this?

It’s always a delicate one to comment on when shares have suffered more dilution. Of course CB is always going to benefit at the expense of others but ultimately because of it, funds will be secured with the take up his, and ‘all’ options so further ‘necessary’ technical work can get done, so moving another step forward.

As MrT has pointed out zero developments have been seen in ‘23 so the incentive price for taking up any offer of options was always going to cause contention.

If of consolation CB, along with all existing holders have suffered the same dilution that an investment case will now be based on in terms of return on an asset sale in the future for example.

Yep, some definite shoots of the recovery appearing. Just need the Chinese economy to step up that will see the demand needed that will really tip the balance. At the moment it is them that are generally limiting any real upswing in base metal prices prompted by the lack of stimulus measures that have been hoped for there.