Member Info for Jamesiecakes

Hi Andrew

I guess time will tell on FB, I heard CB say in a recent interview that they had everything documented to truck the equipment to Mozambique. As such I am going to believe (perhaps wishfully) that we are on target (granted the 17th target) and will be getting serious cash from June.

I think you are right on the newbies!

Cheers

James

Drilling costs are estimated at approx AUD 250 per meter (from the bushranger presentation) so around GBP 150 /m. The recent placing was for GBP 650k, which would translate into over 4,300 meters. Comfortably enough to pay for the first 3 holes. We are only on the first hole presently!

There is also around 130 oz of unsold gold from Manica (this is from me tracking of gold produced vs sold since alluvials started)

I think there are around 27-30m warrants at 1.85p, which would generate gbp 500k if/when issued (appreciate this is dilution)

Then you have the alluvials and GF which I calculate will clear a minimum of GBP 100k per month at current prices, and fairbride from June ish at GBP 400-500k per month. I’ve excluded Zambia as there hasn’t been contractors announced via RNS.

So Yes there will be dilution in the short term (from the warrants), but other than that there is plenty of cash to drill the next 6 holes and run the company whiteout a fundraise.

Cheers

James

Unless drilling has slowed materially, they will have either hit 815m and stopped or they are carrying on drilling!

Very exciting times!

Hey Andrew

I’m just guessing but could it be without including the 0.3% cut off?

Cheers

James

From Tuesday RNS

“New Year period. Drilling recommenced on 7 January 2021 (as announced on 7 January 2021) and by 11 January 2021, at the end of the drilling day shift, had reached a depth of 607m”

So I think drilling may actually be a day ahead of what Glixxer mentioned below. I guess tomorrow we will get an RNS to say depth hit and drilling stopped, depth hit or drilling continued or nothing in which case I’ll also take that as a positive.

Cheers

James

Hi QLW

If you look at the bushranger presentation, there is an estimate budget in Australian dollars. From this you can easily see that the phase 1 drilling (first 3 holes and associated costs) are comfortably paid for by the recent raise with a good chunk of cash remaining (granted this wouldn’t be sufficient to cover the additional 6 holes.

However the below makes me comfortable that there will not be a drawdown of the loan or a a placing in the near term

There are 27mm warrants at 1.85p which are becoming attractive at current prices, which would raise approx gbp 500k (if all issued)
By my estimates there is approx 135 oz of unsold gold (end of Q3 2020) from the current alluvials, which would equate to gbp 150k
With current alluvials and GF production ramping up we should clear GBP 100k per month (likely more at current prices)
Fairbride is due to start late Q1, this will kick off GBP 400k per month.
Then there is Zambia production to start (granted we do not know for sure if these will also be handled by a contractor to prevent start up Capex, but I suspect so)

Cheers

James

https://www.edisongroup.com/publication/boda-bodes-well/28425/

Worth a read

Unless I’ve missed a very large placing, think you may have posted that to the wrong board ragingcow

Hi Littlewing

I don’t think XTR will ever get “revenue” from bushranger, my understanding is that they plan to prove up the asset then sell on. If successful I would hope this would be significantly more than $12mm.

Cheers

James

Pretty sure that was a buy, it’s from the morning of the 31st (not that it really matters either way)

Belated happy new year to all, let’s hope 2021 is finally XTRs year

Thanks for the response Cornish, just getting up to speed here (well as much as my brain will allow)

Cheers

James

Hi Cornish

Slide 12 is the duck pond numbers (I’m off my iPad so could be mistaken on page numbers). I appreciate that copper has increased in value and that will definitely contribute to increased annual cash. But even at $6,400 copper, cash generation should be higher next year than -$5mm and $10mm pa in 2022/2023 which leads me to think there must be some capex to be financed via operating cash flow.

Cheers

James

Hi Cornish

Thanks for the response, I am struggling to understand the cash flows shown on slide 11 on the company presentation then. Without capital expenditure I would expect Annual CF of approx 40mm pa, but they show approx -$5mm 2021, $10m 2022-2023 then a steady ramp up to an average of say $25mm pa

I am probably missing something....

Cheers

James

Hi Cornish

I posted the below earlier, what are your thoughts?

Does anyone have visibility on the Capex required (I couldn’t find much on this)? Based on likely revenue - opex costs I would have expected operating income in the $40-$45mm mark in 2021. But from slide 11 of the investor deck Cashflow is more like -$5mm suggesting to me Capex in the region of $45-50mm.

Cheers

James

Initial results seem good enough, and happy to see an update when expected. However a little disappointed with the shut down which is the complete opposite of what Colin mentioned in his interview last week!

Does anyone have visibility on the Capex required (I couldn’t find much on this)? Based on likely revenue - opex costs I would have expected operating income in the $40-$45mm mark in 2021. But from slide 11 of the investor deck Cashflow is more like -$5mm suggesting to me Capex in the region of $45-50mm.

Cheers

James

Hi Fivecandles

I’m not convinced Barrick would be looking at Rambler, without further exploration success the asset is currently to small to move the needle for them?

Cheers

James

Hi Glixxer

The 24th was from the podcast last week, where it was stated that drilling was due to start on the weekend. From todays RNS drilling has started, there were also a couple of pictures on the website Monday afternoon (of them setting up). Based on these timelines I guess we may not hear anything until 29/30th but think most of us would be happy/pleasantly surprised if we heard anything on the result pre new year!

Cheers

James

Finished building my (small) position today! Would be nice to see a quick uptick to 0.5, however if we don’t get this bounce there should be plenty of news to take this higher over the coming months.

Cheers

James