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Excellent news as far as I’m concerned, for those that are struggling to visualise what today’s news means just look at the diagram provided: https://www.rns-pdf.londonstockexchange.com/rns/7985Z_2-2021-5-25.pdf

Drill result by drill result the resource just keeps getting bigger.

Following the two x 1m share purchases this year, CB holds 12,532,266 shares.

( Ref: https://www.lse.co.uk/rns/XTR/directorpdmr-shareholding-avmncwy6mi3f30a.html )

12,532,266 x 4.65p = £582,750.369
At the ‘recent’ SP high of around 8.5p that holding would have been worth over £1m.

That’s hardly an insignificant amount of money to have on the table. Some might even suggest that obtaining a high SP would be in CB’s interest...

“Assay results from the first drill hole (BRDD-20-001) of the Phase One Drilling Programme at the Racecourse deposit returned an overall intersection of 920m @ 0.3% Cu, 0.02g/t Au and 1.45g/t Ag (0.33% CuEq) from 110m

Higher-grade zones within the overall mineralised envelope include 156m @ 0.48% Cu, 0.04g/t Au & 2.44g/t Ag (0.52% CuEq) from 110m and 44m @ 0.50% Cu, 0.05g/t Au & 1.92/t Ag (0.55% CuEq) from 504m”

Ref: https://www.lse.co.uk/rns/XTR/first-drill-assay-results-bushranger-project-4wscjc7o3z1vw64.html

Then look at the grades from previous drills of the resource: https://www.rns-pdf.londonstockexchange.com/rns/7650I_1-2020-12-15.pdf

It’s not like we don’t already have information on grades... I’d suggest some of you just need a bit of patience, especially when CB has clearly communicated that the collation and processing of assays / creation of models / plotting subsequent drill holes etc will take a little bit of time to work through the scientific process before bringing it to market.

Perhaps this diagram will also help when trying to visualise the long section/cross section situation:
http://www.rns-pdf.londonstockexchange.com/rns/7650I_1-2020-12-15.pdf

Morning Ella, there’s a . at the end of the link that’s stopping it working, think it should be this: http://www.rns-pdf.londonstockexchange.com/rns/7490Y_2-2021-5-14.pdf

The “cross section” is basically referring to the drills to test the grade across strike in that particular area, I.e drilling at an angle to intersect the “long section” (BRD-20-001).

Hope that helps :)

There was an RNS released on Monday 17th May...

Ref: https://www.lse.co.uk/rns/XTR/ip-survey-initial-results-at-racecourse-prospect-9aik931bru6m4nd.html

Gixxer, with the greatest of respect, if I may post an exert from that very RNS which I believe clearly communicates Cb’s/XTR’s intentions re keeping the market in the loop:

“ Assay results from hole BRDD-21-002 onwards are expected to be received in batches over the coming weeks and will be reported as they are received and collated”

Ref: https://www.lse.co.uk/rns/XTR/completion-of-phase-one-drilling-at-bushranger-8sri11xtzfsp5lw.html

To me, the above means: the company are expecting to receive the results in batches over the coming weeks and will report to the market once they are received and COLLATED.

I.e, not reported individually.

You’re welcome Jezzoo

There are an awful lot of people trying to spread panic here..
Just waiting for the posts about 'CB spreading himself too thinly' to appear.

We had news YESTERDAY and posters are still moaning about needing their hands held.

CB has already made the company stance clear through previous communication:
ASSAY RESULTS WILL BE RECEIVED, COLLATED AND SHARED WITH THE MARKET.

Jezzoo -
"Disclosures in relation to shares
'Dealing' is widely defined: the buying and selling of shares, the grant and exercise of options and pledging your shares as security for a loan are all disclosable. Similar rules apply to share dealings by directors of AIM companies."

Ref: https://www.pinsentmasons.com/out-law/guides/disclosures-and-restrictions-on-dealings-in-shares

"· Assay results from hole BRDD-21-002 onwards are expected to be received in batches over the coming weeks and will be reported as they are received and collated"

https://www.lse.co.uk/rns/XTR/completion-of-phase-one-drilling-at-bushranger-8sri11xtzfsp5lw.html

What's so hard to understand? If you're still struggling to get your head around why we haven't heard anything yet, I suggest you look up the definition of collated.

“..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

No doubt AA would have a period of due diligence prior to committing to a purchase - meanwhile we’ll be cracking on with the second, much larger drilling campaign which will be adding to the resource drill by drill.

The clocks ticking...

I'd noted that too...

@Ella10 - I assume you're referencing 11700N, the lower part of the diagram between 21700-22200?
Ref: https://www.rns-pdf.londonstockexchange.com/rns/7490Y_2-2021-5-14.pdf

Stevemocal, with respect: “ I think a large part of the problem is that CB is spread too thin. I would really like to see some of the working capital just raised being spent on a CEO.”

As a statement that just doesn’t stand up.
People have been regurgitating the same comment for the past years - just look at the company prospects and how they have developed off the back of CB’s hard graft.

My view is that all of you need to take a step back, remember you’re invested in a mining company and that due to the scale of operations they can happen at a sometimes glacial pace.

I have been and will continue to be a hefty shareholder here and quite frankly I’m happy to let CB steer the ship using his decades of experience, I’m not going to hurry and hound him every day until I get another scrap of information.

The results will be released when they’re ready to be released and unless you’re looking for a quick trade off the back of them it shouldn’t matter wether that’s in a day, a week or a month.

I’m certainly not fussed about the timescale of the initial drill results and wether they’re hole by hole or batched as I’m looking at the considerably bigger picture.

.

Cyberiachas- each to their own but I'm not sure why you'd deliberately ignore comms from the company when it's fair to say that decent bits of information can often be gleaned from these sorts of interviews...

CB certainly seems confident of hitting that 2mT AA buyout target in due course...

Worth noting the following statement from the original acquisition agreement: "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

https://www.share-talk.com/colin-bird-executive-chairman-xtract-resources-plc-xtr-l-exclusive-interview/#gs.wl3tr3

FatherTed, you're still deliberately trying to make this look like it doesn't compare to its peers when the RNS categorically states it does... Boda is another good example as demonstrated in the RNS:

Our resource at Racecourse (BR):
"· Assay results from the first drill hole (BRDD-20-001) of the Phase One Drilling Programme at the Racecourse deposit returned an overall intersection of 920m @ 0.3% Cu, 0.02g/t Au and 1.45g/t Ag (0.33% CuEq) from 110m

· Higher-grade zones within the overall mineralised envelope include 156m @ 0.48% Cu, 0.04g/t Au & 2.44g/t Ag (0.52% CuEq) from 110m and 44m @ 0.50% Cu, 0.05g/t Au & 1.92/t Ag (0.55% CuEq) from 504m"

Re Boda:
"The overall copper-gold intersection and higher-grade zones in drill hole BRDD-20-001 compare very favourably with the recently announced intersections from Alkane's Boda porphyry copper discovery, which occurs approximately 170km NNW of the Racecourse Prospect. Recent intersections from Boda announced by Alkane (see ASX release, 18 December 2020) include:

o 832m @ 0.17% Cu & 0.38g/t Au (0.37% CuEq) in hole KSDD028
o 366.8m @ 0.11% Cu & 0.27g/t Au (0.25% CuEq) in hole KSRC033D"

Ref: https://www.lse.co.uk/rns/XTR/first-drill-assay-results-bushranger-project-4wscjc7o3z1vw64.html