Member Info for howezap

Yes agree there needs to be more transparency when reporting income.

Would expect to also see some resistance to any fall back having that income for support you would think around the 3p range going by others.

As for BR it appears the key to unlocking its bulk low grades will be down to the performance from pre concentration and the reduction in CapEx and OpEx that will all have positive effect on the NPV model. It is a fast developing technology that is already seeing the tech leapfrog existing performance from sensor based arrays in accuracy in detection and speed of separating the bulk batches, so will have good chance that there will be other tech out there that will outperform the current tech results already or if not later anyway. But as a concept it’s looking really promising.

Jez>>I didn't say they were wrong, I said they were misleading when taken out of context.

Don’t believe that is really the case, you mentioned “a long period of zero to actually having an income.” They have had revenue from the the alluvials prior to YE’22, to support a credible increase in sales growth that will see a further increase next year on assumption that Kakuyu is running ore to pay for more extensive exploration there, along with seeing consistent nameplate capacity from a matured stable feed grade at FB.

All in all these indicators only help to raise the profile of the company and to be at the top has got to be likely to attract curious investors looking for undervalued companies where there is value to be found when they all return in droves ready to pile back in. 😉

Exactly that Bob, the footprint of the whole development will be immense, they certainly would not want to design it over the top of an underlying ore body, hence why the other large ‘outlying anomaly’ to the west of Ascot would need to at some point, be confirmed with some drilling that wether it is pay or not. There was hints to doing this in a previous RNS. That will be seen, but there is certainly time and is highly unlikely they will just park up the project until copper prices rise sustainably whilst they can continue to evolve the project.

Also with bulk ore sorting the plant needs to be as close to the mine face as possible to be at maximum efficiency with less hauling of all pay and non pay material before separation. They will also need to design waste dumps and low grade storage that will be put through later, these would be quite large in scale.

Everything changes with the use of BOS in a new plant but can see an ever evolving mine design that will probably be quite different from this conceptual design if and when it is at DFS and detailed mine planning phase. Something we won’t have to worry about!

Interesting you mention the area between the two Cygnus, it is considered that the very low grade ore there could not be profitably mined to join up RC and Ascot due to the strip ratio tolerances that would mean too high a degree of waste material having to be shifted to be economic.

The 16 pit shell scenarios have been modelled on both the ore from Racecourse and Ascot, now if any of the ore sorting technologies can upgrade these lower grades too, sufficiently to be economic particularly after the CapEx payback phase when there will only be ongoing costs then it could potentially see the two initial pits being joined up after all.

>>It wasn't last year AGM but THIS YEAR. I was there.

Wasn’t aware he repeated it this AGM too. Thanks

I try not to dwell on the past Jez some will fail others may flounder, was hoping for an earlier conclusion to BR but hey ho, there is potential I see in the assets at this point in time and the company to look on the bright side going forward. I hope Xtract can get the jump in share price that will give the opportunity for some of the more disappointed holders to rebalance. There should be a decent glut of news to attract investors in. Fingers crossed.

Don’t know da that was the intention given at last years AGM to strike while copper price is low. They will inevitably crack on with optimising the resource until they hit the sweet spot in financial model. They may try to negotiate to manoeuvre past the buy back before that happens if they consider it will be difficult to prove the DtM now and 2mt is not affordable.?? There is no target as such to head for now. So why wait? The agreement is the main hurdle so is still the biggest priority. Is likely they will carry on until all viable economical options to optimise are done, before sending that mail. ‘24 into ‘25 seems to be where BR is heading toward anyway.

Apologies Da I must have been compiling my latest regurgitation of repetitive parsley whilst you snook in there with your post. Good evening

It’s a bit unfair to call a share price fall from a spike as colossal VB. In that case how about the rise of 86% since Pre BR acquisition. Both have no relevance on todays share price, if we are just picking from any particular point in time.

The company is showing to now be in a far healthy state than what it was back on 2020 on revenue alone.

Also, BR is potentially near the top of the value curve with the mining model set to be tweaked until an optimum economic performance is reached.

Early signs are that Kakuyu is looking to be an interesting and potentially self sustainable asset that could become quite lucrative and have a long mine life.

The new large scale Zambian licenses are a complete unknown at present. One step at a time, first step is surveying to determine some reconnaissance drilling targets.

All could see asset values increase with successes, that should see market cap appreciation and be underpinned by some good income that easily covers the companies operating costs at present.

They are clearly sand bagging news flow until there is a stream of decent events to report when there is a change in market sentiment in the resource sector. I would say with BR there could well be still waiting for the updated economic model as further core samples needed to be sent for analysis to add more weight behind the previous results. Then whole new plant, waste dump and tailings re-designed with new operating costs worked out. After which the whole range of pit shell scenarios would need to be re worked completely that incorporates the use of ore sorting into the flow sheet. But if the full study has been returned then the same could apply as above too.

I hear the “if there was good news already, CB would be singing from the rooftops”

Why would he do that if there are no buyers out there willing to jump in ahead of the market?

The roasties on Sunday toward the end spoke about the signals that are starting to appear and what it takes for that swing in sentiment to happen.

When it does the company will be poised to take full advantage as our own projects have been able to be advanced throughout the down turn from income. There are so many small cap peers that have had to shut up shop due to lack of funding and so will be left dead in the water when it kicks off again.

From about 56mins

https://podcasts.google.com?feed=aHR0cHM6Ly9hdWRpb2Jvb20uY29tL2NoYW5uZWxzLzUwNjQ0MzcucnNz&episode=dGFnOmF1ZGlvYm9vbS5jb20sMjAyMy0wOS0wOTovcG9zdHMvODM2NDc4OQ%3D%3D

Gotta be patient

Yttrium-barium-copper oxide walks into a bar

The bartender tells him, "We don't serve superconductors here."

He leaves without resistance.

>>How , the question wasn’t to you

Sorry bud thought it was, I started something there and just needed to get the point across to Dani so I should get the stick really not them.

I know most stuff is common sense to many to work out but I’m sure not to all, and is good for just getting a dialogue going that might steer others in that direction to check out for themselves.

Yep yank muscle too jez, had 6 muzzies, C5 vette, couple of mopar and dodge Laramie

F150 is my daily snotter ‘coz I can’ 😎

corporate presentation on website Da. Actually from feb 23

https://xtractresources.com/wp-content/uploads/XTR-Presentation-Feb2023_v2.2.pdf

I’m sorry billy for not being ar5ed to answer a simple question that your friend google could have done.

Zambian regs allow max of 56 ton over seven axles. So a 30 ton was a flat guess that is within those limits.

I don’t always play the devils advocate, sometimes I like to dazzle with diamonds when not baffling with bull5hit 😉

Hi jez the first part is not ‘the’ business model but certainly the hook that got me and many more invested. It was, or is still a very complicated company to fully understand for any newbie to fully grasp.

I’m sure you were happy with your own strategy at the time, as i am with mine now still, everyone has there own level of risk aversion, understanding and expectations from their own belief in short, med or longer term outlook. So even investors with a good understanding and positive outlook can still disagree.

>> If you are still here then you are equally as smart or stupid as I am because we will both be affected by the outcome here. 


Quote of the day like that 👍

Hi BTTS >>Why would you think it odd, when shareholders have watched the sp fall from 8p to 1.3p and despite this "bargain" price, the directors who have far more knowledge of the company than anyone here, keep their hands firmly in their pockets.

The point is echoed by flipper 👍 in that those ‘significant’ returns, will have been based on higher copper prices.

Can all agree on that for sure, so until full studies are returned with the economic model for BR and studies from Moz and Zambia, to proceed to much larger sustainable operations with own processing abilities to take full advantage of increasing revenues to exploit those higher copper forecasts when time comes, they would not necessarily be expected to buy more shares at this point and certainly not just for the sake of trying to prop up the share price to appease insecure investors.

if anything above current market cap, particularly at the much higher levels before FB plant was commissioned, was deemed good value when purchased at that time, then with it now fully operating within its expected parameters, surely the current fundamentals just based on FB alone, makes 1.5p fantastic value?

So we should all be questioning wether the previous highs were highly inflated and not reflective of then market cap?

Think we all know the answer.

Smart investors that believe in the business model will have averaged down.

Thanks Dani got there although my guesstimates are simply that , and not reliable so figures could be way more or far less.

There is the statement to take into consideration, on understanding how the extra costs incurred by hauling off site 70km or so and cost of any deal for services to process and sell may impact early returns. There is low grade ore up to 1%cu that has been stockpiled for upgrading through blending with higher grades and also can be processed on site later that is considered non commercial to be sent for processing.

With 1% not being economical enough for a positive return from sending off site solely, then it puts into perspective the perceived relatively low returns from sending the average grades of 3.5%cu once “all costs” are considered.

I do think what is odd is the inability for many to believe that the company they are supposedly invest in, doesn’t have the ability to return any kind of value from the mission that they have essentially backed it to do.

You can’t make it up 😉

Yeah I know sorry was mine to confuse

>>>go again from this below as sorry, maybe I confused it with calling it AISC as doesn’t account for the extra haulage. Below based on running ore to Kabwe for processing

So please pretty please once more as per my post 17.56 🤗

Hi Dani not disputing your calcs, I’m sure they are fine but flawed as all other costs associated should be included as per correction.

I’ll steer clear of the math.

Cheers

Guy 😉

>>Guy is the above correct?

I would consider that a fair assumption from mining rates but based on having own plant. But if that was the case then we are looking at couple or few years down the line and hopefully by then getting into the newly identified resource giving xtract 70% net profit share. But don’t take into account how it will be paid for.

That really stretches the imagination of our many critics here and rightly so , so for now maybe go again from this below as sorry, maybe I confused it with calling it AISC as doesn’t account for the extra haulage. Below based on running ore to Kabwe for processing

•Between 5-7k tonnes per month @3.5%Cu ( rates specified in March presentation which also states that it will be a sustainable operation btw based on pit extensions and new discovery. )

•$500 per 30ton load haulage fees. (Wild guess not researched)

•All in mining and processing costs if $2.60/lb (based on basic search result of a higher end figure that includes mining rates too)

•Deduct 5-10% loss of copper concentrate from metallurgical recovery losses at processing.

Jubilee ‘charges’ for processing and selling our ore ?? ( no idea there but some sort of figure should be included in any guesstimate)

60% net profit share to Xtr (until initial mining from current pit depleated)

30% corp tax

Think are mostly reasonable assumptions based on what company have put out, so fair game to throw some numbers about to fill in the gaps I’d say.

Just use as ball park $2.60 per pound AISC I’m just saying 50% as a rough idea of processing costs.

Tax not included in AISC as is not an expense incurred but levied on profits made.

Can’t say when but as Moz at end of year sounds reasonable.

No idea how much Jubilee will command.

Their 5-7 ktpm target could well be from if and when they have own processing bought in or from initial ops.

It is fairly clear that cash flow generated will be used to pay for a larger exploration programme ‘toward’ increasing Kakuyu to a larger operation if results are as expected. It will, or will eventually need to be sustainable with no drain on the company. So may not see any real initial benefit from there.

Any updates will be appreciated as it sounds like work has been ongoing at full pace with the staff that have been appointed.

There is already a current pit mining programme within the mining and exploration license, which they are looking to add to, through current ongoing further exploration, they have pushed back benches and exposed ore body, grade control and an ore blending programme to achieve consistent grade of mill feed by the geological contractor and grade control team employed on a permanent basis and a full time in house mining engineer employed to oversee the mining operation, metallurgical test work samples sent, ore type accepted for processing, initial production run to pay up front costs already reimbursed and/or for ongoing exploration.

Reasonably assured of grades I would think through in pit grade control which usually means rc drilling of mine face and on site analysis.

No crap fulmer, all reported in RNS or company literature if you look a little deeper.