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.. oh in fairness, if you also use the figures you’ve made up for the months taken to complete plant construction after delivery of equipment then your timeline makes more sense.
However, that’s not the guidance we’ve received from the company.
Whilst you’re obviously entitled to your opinion, I’m equally entitled to say “what you are posting posed as fact is fabricated and does not correlate to timelines we are being given by the company”.
Considering the “quality” of your research over the past few years, the extent of your mistakes re calculations and how often you seem to fill in the gaps by essentially making it up / adding months to deadlines as you see fit, I think I’ll pass and stick to my own notes, thanks.
To reiterate, your April critical path works back to a January receipt of equipment on site, which there’s no two ways about, you have made up.
Andrew, CB’s guidance has been 3-4 months to get the plant up and running from when gear arrives on site, i’m not sure why you’re saying April, sounds to me like you’re taking a complete punt and putting it across as fact.
Your fabricated “critical path” suggests no gear will get there before January post Covid lockdown.
DYOR people.
FYI Backtothesoil: https://www.lse.co.uk/rns/XTR/manica-hard-rock-collaboration-agreement-ghoo8qdt7s68ji6.html
Happy to be a sounding board / back your group if you need a bit of extra clout (when I agree with your stance), however I don't have time to do the organising.. I've been a part of these sorts of groups before and to be honest, have found that I better use my time when I'm not in them (without any offence intended towards anyone, more at how useful I find these types of communities).
I'm completely in agreement. Awful interview, Alastair Ford comes across as though he hasn't even bothered to do some basic research into the company where he's been made a non-exec director.
Andrew4444 "I suspect those long suffering xtract shareholders have a better understanding of the prospects here then our new non-exec director. Maybe that's why there has been very few sells so far?" - Nail on the head.
Circa £4-£6m expected cashflow (per annum) from the FB hard rock project off the back of our 23% as per the collaboration agreement, income from alluvials as per and the other projects we're expecting to progress with the potential for income in the not too distant future from as per guidance from CB. For a company that's currently valued at £6m.
Zero perspective was given on this via that interview.
If we were a mid cap £200m company then he'd be right, the levels of income we're talking about aren't exactly much if we were comparing them to that valuation. However, when we're a £6m company looking to make more than our Mcap per year then perhaps downplaying the cashflow as "not huge" isn't exactly right. I'd suggest that tacking on that kind of income, yearly, for a company of our size, is in fact huge.
AF does his best to come across as clueless as to the projects that are on the table and wilfully ignoring any kind of perspective on current company valuation vs revenue. In my view, AF has been brought in to appeal to the city boys as we tack on cashflow and gain in size, however he needs to keep in mind that at the moment we are a very small cap company and that the projects that are about to take off and the income they will provide are game changing for us - and importantly, for the loyal long term holders - have been a long time coming.
CB should be embarrassed for letting him speak on behalf of the company before actually understanding the operations - at least in terms of what they mean to us - I could have given a better interview on what's expected from our projects without even having my notes in front of me, let alone being given time to prepare.
I own 1% of this company, and after hearing that interview this morning, a message to you CB:
Count me as one very peeved shareholder off the back of that.
Trying not to make a snap judgement on AF in that I don't really know his work - but my initial thought off the back of this interview is that if we're not making "huge" enough cashflow, as he thinks, then perhaps we could look at trimming overheads... I can certainly think of one wage I'd be happy (based on performance so far) to do without.
That's fair Jamesiecakes, fully understand the view that people need to 'see it to believe it' - especially due to legacy issues- however, my view is that the current discount to the SP (i.e. from where I would value the company based on its projects vs its current market valuation) which is essentially attributed to 'uncertainty' is pretty over the top..
Still, people are entitled to their own opinions.. I'm just confident that mine will make me a lot of money :)
Considering PoG's meteoric rise of late, I've spent a bit of time looking at the numbers this morning and it made me think... the project metrics have changed outrageously.
Due to PoG's significant rise since the DFS/collab agreement our profit margin on the Fairbride project (at todays spot price) has been boosted from circa $400/oz to circa $1075/oz. (Based on project metrics found here: https://xtractresources.com/manica-gold-project/ - i.e. AISC $862/PoG @ $1262/$1940)
Our 23% share of the operating profits at a PoG of $1262 as originally thought would have been circa $240k a month.
Our 23% share of the operating profits at a PoG of $1940 as is the current situation is circa $640k a month. (even at 70% of planned throughput this is circa $450k/month - N.b. I'm looking at 70% throughput as that is the figure which defines 'commercial production' as stipulated by the collaboration agreement: https://www.lse.co.uk/rns/XTR/xtract-resources-plc-manica-hard-rock-collaboration-agreement--bfw915hjmd6ypax.html )
Our Mcap is currently circa £6m (/$7.7m).
The yearly income to Explorator based on current PoG are looking like circa $5.4m-$7.7m (/£4.2m-£5.99m).
This is just one of our projects at XTR with various other income streams inbound (imo).
When I think about our mcap vs our fundamentals the word "disparity" springs to mind....
Happy to watch and wait knowing that at some point (imo in the not too distant future)- perhaps as we near the start of commercial production and people are spoon fed a clearer picture, or perhaps further down the line when actual revenues are announced, people will finally cotton on - the share price should not be anywhere near 1.3pps equating to an mcap of £6m.
I look forward to that day.
After a bit of light reading/research...
They’re a small cap company with some interesting looking projects (check their website if you’re interested) in copper / gold / (other?) who look like they’re mostly funding the development of via placings.
They have a copper project that looks interesting but has been sidelined atm due to them wanting to push on developing their gold play.
Not saying they’re struggling financially but XTR as a company soon to be throwing off decent amounts of cash would certainly be in a position to play a part in financing the development of their assets if some sort of deal were to be struck.
Just musing...
Anyway, considering CB’s attitude towards acquisitions/JV’s atm, i’ll certainly be watching this space.
Could this be the next target we acquire...? : http://www.greatwesternmining.com
CB's made a point that he's actively/aggressively looking at more acquisitions in the short term via various podcasts/interviews - certainly looks like the sort of thing we'd be interested in.. and the appointment of a director that sits on their board... could be a coincidence/not relevant but it certainly got me thinking.
Thoughts?
Board appointment.
https://www.investegate.co.uk/xtract-resources-plc--xtr-/rns/directorate-change/202007231020018851T/
I never suggested it’s a loyalty contest Andrew, I just find it a little wearing that regardless of positive moves the company makes (or has made over the years) the bb is forever full with negativity.
Perhaps it’s my issue as I’m a cup half full kind of guy. (Not sure that deserves the teenage girl comment, but each to their own).
For what it’s worth, I feel CB has done a great job of getting this company post Jan to where it is now. I just don’t believe he deserves the flak he gets here on a nearly daily basis. This is why I’m happy to jump to his defence when I feel the company I’m invested in and the management I have faith in are under attack without justification.
Why take a cheap shot at the end of your post Andrew?
You know as well as I do that we are currently getting gold out of the ground via the alluvials, granted, that amount is currently small - but not insignificant... this amount, as a result of Colin's dealmaking is likely to substantially increase over a relatively short time scale - CB has indicated that we're due deal specifics on the various new revenue streams to be announced shortly (but you should already have an idea on what they will be and likely revenues, as I do) and likely to be vastly increasing our production profile (not just through the HR) in the immediate future.
Respectfully, I'm just not sure why yourself and others feel the need to take relentless digs at the company, it's really quite tiresome..
Blueballsnall - it must be tiring being forever annoyed about seemingly every aspect of a legal entity (XTR) and it's management (CB).... I know I'm tired of hearing your constant negativity irrespective of how positively operations are progressing.
So Covid-19 has caused a delay of a few months because we can't get the kit on site, not sure why that's a big surprise to you when it's pretty evident the world has temporarily ground to a halt...