Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Topshare, appreciate the concern, would be valid if we had any intention of building the mine.
Colin has made it clear from the start, this is a 'prove up and sell asset' scenario, check out the buy back clause in the agreement:
"Anglo Buy-back option
Under the terms the Bushranger Acquisition agreement, if a deposit of greater than 2 million tons of contained Cu equivalent (e.g. 450Mt @ 0.45% Cu equivalent) is ultimately identified, Anglo may buy-back 80% of the Racecourse deposit at fair market value as determined by an Independent Expert in accordance with the JORC and Valmin Code. Anglo and ProspectOre would then provide funding pro-rata to their interests, save that ProspectOre may decide not to provide its share of funding and be diluted, ultimately retaining a 0.75% net smelter royalty (NSR). If a "Decision to Mine" is taken by ProspectOre prior to the identification of 2 million tons of contained Cu equivalent, Anglo also have an opportunity to exercise the buy-back. Anglo have a once-only opportunity to exercise the 80% buy-back whether the opportunity comes through the discovery of 2 million tons of contained Cu equivalent or a decision to mine."
Ref: https://www.lse.co.uk/rns/XTR/bushranger-copper-gold-project-australia-o7u71uhdwbdy9b9.html
This is why LTH's are so excited by the recent drill hitting over 200m more mineralisation than we'd planned for AND finding that mineralisation was consistent... this could be huge.
I wouldn't describe myself as "happy" with reading that when I woke up, however I'm understanding from a business point of view and in the long run I can accept it is the platform upon which to build.
Either way, I see a new floor of double Fridays price and circa 400% gains on points of last year - I can see that for the good news it is even if I feel it cut the run this week short.
I certainly know how I'm positioning myself for this.
I'll actually take todays news on the chin, a little miffed but clearly in Cb's eyes it's necessary and I can accept that.
Was is what I wanted to hear? No.
Does it mean we now have £5m in the bank, a potential monster of a play in bushranger and a whole host of assets producing now or in the near term? Yes.
All in all, it'll basically remove the main negative people were pitching about this share, and likelihood is that in a months time this placing will be old news as we run into a news rich period about the current drilling campaign and our other assets.
Steve: "If anyone has even a basic understanding of the company, its a steal at the moment."
- I think that's the lack of such understanding is the issue causing the drop
Can't say I'm worried about it, CB will spoon feed the market next week.
...Here comes the aeroplane...
"· Copper mineralisation was first noted at a depth of 110m and the hole has been mineralised continuously over a 940m interval to approximately 1,050m depth, 235m past the original planned finishing depth of the hole"
https://www.lse.co.uk/rns/XTR/bushranger-drilling-programme-further-update-n40n8bpz81nw6li.html
True Olderandwiser but if we have ballpark shallower grades (from previous drills) and the mineralisation is getting better as we get deeper (which has been clarified in RNS's/via interviews) I'd suggest the grades should be decent... I understand your point about that not being an acceptable measurement by which to value the project as far as the market is concerned... yet.
But that's how I intend to make money, taking that risk on / paying attention to the communications coming from the company to build a picture of what we have prior to having it spelled out for us...
Humbogumbo, your first post on XTR: "I simply stay away from anything CB touches...."
I have to ask... if you have no intention of buying in, and dislike CB companies that much... why have you been here with 41 posts since Monday?
IMO your post history speaks for itself:
https://www.lse.co.uk/profiles/humbogumbo/?page=3
...about our zinc asset to anyone inclined to answer.
Have JLP confirmed what price they'll be paying, either per T/material at X% zinc or based on recovery/production etc.? (or is that part of what we're waiting for?)
When I was ploughing through RNS's yesterday, all I could find was something along the lines of an industry standard deal?
- wasn't exactly sure what the industry standard was...
Would welcome any help on this :)