Member Info for howezap

“am listening to another brick in the WALL”

Been sitting on a brick in the wall and it’s made me ‘un’comfortably numb.

>>>IMHO the question is when will this be confirmed officially

As far back as July 6th in Manica Q1 2023 Gold Production Update it states ……

Xtract will be reporting production and gold price statistics for Fair Bride on a quarterly basis with Xtract's 23% net profit share to be included in its annual and interim financial accounts.

No reason to believe that has changed and so a separate update of net profit share from the second quarter does not appear likely.

So unfortunately in that respect we are looking at full audited report due usually at end of June!

Oh that nice lady! Wonder if gone into hiding from Cisco coz he didn’t want to buy a racehorse 🫢

‘The’ not ‘a’ Jez

I think what you are saying could well be true, but I don’t believe that would impact on any decisions that will come to potentially and significantly increase revenue.

There will be a certain evolution of the mining operation based on geology and the desire to all make more money by exploiting as much and as fast as viably possible. Ongoing feasibility studies will dictate the growth of the operation and with other parties to consider, xtract will not want to miss out on increasing its profit share I would hope. If funding in part for any modular upgrades or separate plant can be sought then xtract could well expect a share of production over current nett profits.

Take for example Manica. The studies will be ongoing to establish what upgrading is most feasible to accept the sulphides later on.

It should be considered that xtract will certainly be pursuing extending mine life by accepting all ore types. This will then give opportunity to unlock the remaining current ore reserves from the satellite deposits on top of any additional ore identified through further exploration. All cheap easily accessible mining with potential to exploit a greater profit share if xtract can get a debt facility to part fund any upgrade or additional plant, which I would be confident in saying that has got to be a serious consideration.

Importantly toward that, the Manica concept study indicated that ‘much’ of the Manica Project area would be readily amenable to low-cost surface mining techniques, and that it exhibits no particular technical or economic risk issues that could undermine its operational viability.

You can start to appreciate why Colin has already stated that they want to bring down the ‘potential’ LOM of about 100 years from all current ore reserves , estimated from currently limited plant capacity. I Would imagine more probability than speculative that would happen

Manica could become a rather valuable asset.

Hi JEZ yes I have been pro Colin normally just to offer an alternative view over the overly biased general negative perception of him or how he runs the company.

When you invest in a Colin Bird company it kind of comes as a package. I invested into BR, but clearly there is still potential there, and across other assets to move forward. Agree nothing said on here is going to have any lasting effect on the share price.

I don’t tend to look at my portfolio it makes grim reading, but those trades I offered are just a few. My broker account does not give a total percentage across 3 accounts of various sized holdings, so could well be a higher average. I tend not to concern myself as it can sometimes cloud judgement. I am happy to accumulate at a low level just on Manica’s potential to expand and increase on xtracts current profit share in time.

What……Even you Andrew?

Hi btts my initial entry was a small trenche at 6p, in heavier around 5p, one at 7p then 2x £20k buys at 4p. Those early days I made no secret that I was drawn in by those early over optimistic targets with the herd.

It is through my greater understanding through wider research and constant evaluating since, that my average is where it is now from continually accumulating particularly since Fairbride start up.

Okey dokey let’s nip this in the bud now, firstly in response to an earlier comment, I dont make forecasts, I give my opinion to subject of discussion or a news release based on facts, correlating information that has been put out previously to support any commenting and from my own extensive research into the resource sector particularly copper mining.

I do admit my understanding of financial aspects and corporate governance is not great! But I am down by 60-70% like many others and have the same instinctive worries regarding the share price.

My understanding of what the company are trying to achieve in diversifying its assets in line with the growth strategy and the opportunities it could and hopefully will bring, funded in part from revenue and or through JV’s which mitigates some of the risk, gives me confidence the company with its current assets is in a good place. It has allowed me to now have a longer term outlook.

I don’t need to be spoon fed news, when the company have news and want to release it they will. Moaning about it is not going to change anything, the share price will do what it does until buyers return looking for value where there is obvious undervalue, when the resource sector turns. In the meantime, I am happy to continue to bring my average down and point out that not once have I resorted to de ramping to suit my current strategy to do that.

As a buying opportunity I make that x5. Do what Andrew and any other sensible investor does and average down. The fundamentals are far stronger now than what they were 2 years ago. No question

Howzaps a paid poster, end of!

🤑 I wish.

Howezap has been describing xtr as a buying opportunity all the way down the hill.


 If you felt the share price was good value and bought in at +/-6p after doing your own ‘due diligence’ how much extra value has been added to the share price at 1p?

Anybody listening to him or Bird have been seriously financially damaged .

See above.

Anyway….. Data coming out of US today means interest rates looks like they have peaked and will now keep falling over next 18 months. 

That's good for Gold and Copper. 

So income from manica should continue to increase and viability of BR will keep improving as POC keeps increasing throughout 2024/ 25. 

SP recovery starting by end of 2023 and through out 2024

Popped in to see you earlier Andrew but you was not there, sorry, I ate all your chocolate hob nobs.

To recap- The pit optimisation and financial study concludes that due to the large size and relatively low grade of the Racecourse deposit, conditions are expected to be excellent for efficient and productive mining.

It just comes down to reworking the model to find a desirable enough economic performance that supports the resource model in showing a potential acquirer the already reasonable geological justification there is to warrant taking it to Pre feasibility and so.

Got to remember that a PEA or scoping study is the level at which the updated conceptual study when finally updated, will be after optimisation and is just to support an initial CapEx payback phase and will only need to determine if the resource has the ‘potential’ to be economically viable. Whereas at PFS it would determine whether a probable mineral reserve ‘is’ economically viable and so onto a full feasibility study which then determines whether the reserve can ‘actually’ be mined economically.

Bought into Kakuyu JV, with partners Oval mining and Kakuyu limited. Waiting for next steps from there.

Managed to get an exploration foothold in a highly sought after region in NW Zambia, likely through the association with Oval mining who are the license holder of the largest of the two new licenses. So good positioning. Also waiting on.

Fairbride now primary asset as a sustainable mining operation with significant revenues that will be used to fund exploration to advance all its projects accordingly to increase asset values I might too, at a time when exploration activity across the sector is almost zero amongst its peers.

I have the availability to the same information as anyone else and will shortly start accumulating shares again.

And I thought it would be you Andrew that would understand the buying opportunity that has come about against the current stronger fundamentals.

After all, pre bushranger you had significantly averaged down from well over double figures (can’t recall actual) against a far weaker NAV.

What is so different now, at a time when the two main assets particularly, have seen big developments over last couple years?

Note the sarcasm Andy, but I personally think OSV has every right to state that the company are creating value. Wether that be through increasing the fundamentals through the development of its two main assets in particular over last couple of years, or creating value in the share price that will give shareholders with those higher averages the opportunity to significantly average down in line with any sensible investment strategy.

CB did say they are now concentrating on developing the assets and ignoring the share price.

Creating value doesn’t necessarily mean having to continually influence the market to create more demand for shares.

Would never have took you for a twitcher NtM! Colin must have reported the post, you made him anxious that he might get accosted in the street, said it would be NotSoNiceToMichu under those circumstances.

Short term it’s certainly looking like a copper bull run will not come round just yet. Analysts expectations for copper are estimated for it to trade at 3.61 by the end of this quarter and down to 3.41 in 12 months time.

The flip side is of course is that gold will rise, increasing Manica revenue from profit share that should also see costs come down further as the operation fully matures.

Expectations for gold looking forward, are estimate by analysts for it to be traded at 2083 in 12 months time. By then it would have seen it sustained above the 2000 barrier and should continue to rise thereafter.

No shareholder wants to hear that the share price could be suppressed for some time, the big positive that cannot be ignored is that xtr are in an enviable position to be able to advance ‘all’ of its projects forward during that time.

At present that’s what shares are worth, but there is zero confidence in the resource sector for outside investors to want to jump in at the moment, leaving currently invested to trade amongst themselves for any rich pickings. I think what flipper is subtly trying to suggest is you jump out of the frying pan straight back into the fire 🔥

😉 was in jest quoted from Hannibal just watched.

It’s not a dud jez it’s ‘currently’ not enough to be mined yet in what is an initial payback mining phase.

Those economics are likely based on less than half the resource at RC alone.

Yes at mercy of copper price has always been since acquisition.

If you can’t keep up with the grown up conversation, you should maybe sit at the kiddie table Jez 😉 Or perhaps I should….all on my own. 🤔