Member Info for JDAU

We need Assays for the subsequent drill holes in order to build the full picture as per the RNS's/interviews.
To say this is a 'good start' is an understatement though, imo.

FatherTed you're posting absolute ..... we've been told prior to results in no uncertain terms that 0.3%-0.4% CuEq was a win, we've hit that on the first drill hole's assays this morning, stop trying to act like todays news was bad.
You're completely wrong with what you're posting, I'll even spell it out for you with a very succinct part of todays RNS so there's no room for error:

"The overall grade of 0.33% CuEq is very pleasing and I am particularly encouraged by the grade uniformity over the entire intercept."

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

Take this poster with a shovel of salt ladies and gents.

Copper is already circa $9,000 / T making this project very likely to be economically viable and with the buy-back option from AA on the table we are looking more and more likely to reach the trigger point in the not too distant future:

"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."
Ref: https://www.lse.co.uk/rns/XTR/bushranger-copper-gold-project-australia-o7u71uhdwbdy9b9.html

FatherTed, I'm not sure why you're trying to do XTR such a disservice, I only end up questioning your motive to be heard.
We don't need copper to worth any more than it is today to make this a viable project.

"Colin Bird, Executive Chairman said: "The assay results from the first hole at the Racecourse deposit are exciting in that they confirm mineralisation for almost a kilometre down-plunge. The overall grade of 0.33% CuEq is very pleasing and I am particularly encouraged by the grade uniformity over the entire intercept."

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

It's not, that poster is deliberately misinterpreting todays news release.
See the news release for actual details re grade:

· 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

· The assay results confirm that the mineralisation at Racecourse forms a very substantial copper-gold mineral system and there is significant potential to expand the Mineral Resource, which is currently estimated as 71Mt @ 0.44% Cu & 0.064g/t Au, at a 0.3% cut-off and classified as Inferred in accordance with JORC (2012)

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

It’d also be perfectly valid to analyse that poster’s agenda, wouldn’t you say Ted?

Good bit of publicity: https://www.**********.co.uk/articles/xtract-resources-receives-encouraging-first-drill-assay-results-from-bushranger-project--6acea15

FatherTed, with a view to humouring your post I had a quick scan of their resource:
"Access is generally possible during the summer months from September to May, but may be curtailed if there is inclement weather."

Ref: https://ngexminerals.com/site/assets/files/3323/los-helados-technical-report-2019.pdf

Their deposit is in the Andes mountains with restricted access for large portions of the year.
Ours is easily accessible, surrounded by other hugely successful mines and within relative proximity to Sydney.

You sir, are talking out of your...

· 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

· The assay results confirm that the mineralisation at Racecourse forms a very substantial copper-gold mineral system and there is significant potential to expand the Mineral Resource, which is currently estimated as 71Mt @ 0.44% Cu & 0.064g/t Au, at a 0.3% cut-off and classified as Inferred in accordance with JORC (2012)

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

Alkane has announced that the Boda discovery strikes to the northwest, which is also the strike of the Racecourse Mineral Resource, suggesting that Boda and Racecourse could have similar structural geological settings.

At 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, the Racecourse Mineral Resource within the Bushranger Project, is one of the largest undeveloped porphyry copper-gold deposits in the Lachlan Fold Belt of New South Wales, Australia.

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

Just let some of those statements sink in...

Astute observation cboney.

Whilst I can’t speak for the other stalwarts I’m certainly still here, just don’t have the motivation to interact with the bb much at the moment as it’s mostly full of nonsense posts...

With all these figures flying around re required grades etc, that this is what we're awaiting results on: https://www.rns-pdf.londonstockexchange.com/rns/8229M_3-2021-1-25.pdf
As you can clearly see, the grades from previous drilling of the resource are in line with our XRF's, some would even refer to them as "complimentary".

"The preliminary hand-held XRF measurements of the copper mineralisation in drill hole BRDD-20-001 (XRF results to be confirmed with geochemical assays taken from half core samples) indicate that copper mineralisation occurs over a downhole width of 905m from 110m downhole depth including:
o 40m @ 0.3% Cu from 110m using a 0.2% Cu cut-off
o 148m @ 0.3% Cu from 171m using a 0.2% Cu cut-off
§ Including 30m @ 0.6% Cu from 235m using a 0.3% Cu cut-off
o 287m @ 0.3% Cu from 474m using a 0.2% Cu cut-off
§ Including: 30m @ 0.4% Cu from 517m using a 0.3% Cu cut-off
§ and: 23m @ 0.5% Cu from 628m using a 0.3% Cu cut-off
§ and: 39m @ 0.5% Cu from 722m using a 0.3% Cu cut-off"

Ref: https://www.lse.co.uk/rns/XTR/geochemical-update-on-bushranger-project-urg5n9bt5k8o95d.html

I.e. drilling phase 1 & 2 vs Drilling programme 1 & 2... catch my drift?

Pretty sure a "drilling phase" to all intents and purposes has the same meaning as a "drilling programme".

"Colin Bird, Executive Chairman said: "We are very pleased with the outcome of the first down-plunge hole at Bushranger. We now intend to complete a 4 to 6-hole follow-up drill programme across the deposit to obtain width and grade information. This information will then be utilised to restate the size and grade of the resource.""
Ref RNS 22nd Jan: https://www.lse.co.uk/rns/XTR/bushranger-project-drilling-programme-5h0ocibyavk3gip.html

N.B Not sure if the plan has changed since, happy to be corrected if anyone else is scanning through the more recent RNS's?

Guess it serves me right for not referencing everything in my 'summary' in the first place...
Anywho, I've corrected myself in the subsequent posts / provided the links for the bits I got wrong with my first post if anyone's interested in our income streams :)

This is the 50-50% bit:
"Exploration

The Company and MMP have agreed to incorporate a gold mining exploration special purpose vehicle, on a 50:50 owned basis, and with a monthly budget to be agreed by the parties from time to time. Participation in exploration projects will be decided on a case by case basis. The costs of exploration shall be divided on a case by case basis. Each party may submit a project exploration plan to the other party for review. The reviewing party may elect to contribute up to 50 per cent. of the costs of exploration on that project and will be awarded participation in the project on a pro rata basis with its share of the costs.

MMP and Xtract have further agreed that, if with increased knowledge of the Manica Concession it is deemed appropriate to undertake a major drilling campaign to identify and delineate a larger mineral resource then currently known in the Permitted Area, the parties will agree to invest on a 50:50 basis to identify a larger potential gold mining resource. The parties will form a new SPV for this activity and it will be separately managed with both parties having an equal interest. A larger mineral resource is defined as all resources in the Permitted Area in excess of those currently known, with a minimum threshold being 2,500,000 ounces."

Ref: https://www.lse.co.uk/rns/XTR/manica-hard-rock-collaboration-agreement-ghoo8qdt7s68ji6.html

Massive apologies, got mixed up summarising my notes, please see the below:

" Guy Fawkes Agreement provides for Explorator to receive 20% of gold production (after settlement by Explorator of the Mining Production Tax)"
Ref: https://www.lse.co.uk/rns/XTR/manica-gold-hard-rock-mining-contractor-agreement-d96j192dh5meval.html

"Boa Esperanza Agreement provides for Explorator to receive 20% of gold production (after settlement by Explorator of the Mining Production Tax)"
Ref: https://www.lse.co.uk/rns/XTR/additional-manica-gold-hard-rock-mining-agreement-7klu7v7cjdzvbm5.html

Just a little reminder of what's in the pipeline:
Manica Fairbride hard rock: “Xtract will receive between 20% and 23% (dependent on prevailing gold price) of the hard rock after tax operating cash flow”
N.b. production will be circa 30k oz pa
Also has a buy out clause: “· An amount equal to 80% of the net present value using a discount rate of 15%; or
· US$20 million”
Ref: https://www.lse.co.uk/rns/XTR/manica-hard-rock-collaboration-agreement-ghoo8qdt7s68ji6.html

On top of that we have:
- Manica auxiliary hard rock production(Guy Fawkes/Boa/Dots luck et al) being shared 50%-50%:
“Excellent gold intercepts at Dot’s Luck include:
- 11m at 6.53g/T Au including 6m at 10.41g/T (DLD18)
-13m at 3.88g/T Au including 2m at 14.26g/T (DLD19)
Excellent gold intercepts at Guy Fawkes include:
-2m at 11.15g/T Au including 1m at 21.96g/T (GFR03)
-3m at 2.35g/T (GFR04)”
Reference: https://www.asx.com.au/asxpdf/20131127/pdf/42l5b7g6bfykxh.pdf

- Manica Alluvials (earnings from multiple contractors)
- Zambian copper assets (exploration and production)
Ref: https://xtractresources.com/projects-operations/

Apologies if you're struggling for that cheap buy ladies and gents, I was there with open arms sub 7.30...

L200, considering I placed it, I can say with a relatively high degree of certainty that you will.
500k @ 7.695