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Touché...

Willem Middelkoop @ 1:31:55
https://www.youtube.com/watch?app=desktop&v=J7wUIq1Twe4

Sure sounds like XTR to me....

...“ 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

Joeman1 - after reading my post back I realise it comes across as bragging, for the record that's absolutely not my intention, just want to shut up the idiots who think their comments trying to make out like LTH's are suffering in order to knock sentiment will land unchallenged.

Since we're sharing: After the recent escapades my average works out to be approx 1.59p and I own just shy of 1% of the company. Funny to see the other big LTH's here that I've been in contact with over the years in a similar position to myself whilst you're trying to sell the "poor them" rhetoric.

Don't worry about getting your tiny violin out for this LTH.
Give. Up.

Ok, so having said your piece it begs the question why you're (still) here posting continuous negative rhetoric?
You don't want to invest here, we get it.
Seems like a waste of time to be repetitively posting on a company's bb (you're supposedly not interested in) when you're clearly such a prolific trader.

Anyone would think you had an ulterior motive..

Agreed Jezzoo, I'm pretty sure a rapid expansion/prove up of the asset for a relatively near term sale was always the plan.
CB has made his intentions clear across multiple interviews over the past few months since acquisition.

However, I do LW's point on board, prove up as much as we can before announcing we've hit the buy back clause in order to maximise returns.

We've got a nice little bit of land called bushranger you can buy for $200m+ if you fancy it.

Realism79 - I'm right here and perfectly capable of accepting I got it wrong, not sure that makes me an idiot.

I felt like there was no need, clearly CB did not agree, he's the one running the company and I back his decisions with my hard earned. As I said this morning, I'll take it on the chin.

Here's hoping your decision to trade this doesn't equate to you posting absolute trash every 5 mins in order to get a cheaper buy in as per some of the less savoury characters we get round here.

Good luck with your trading H-hi.

n.b after a re-read of the RNS realised I'd missed this:

"The placing funds will also assist in fast-tracking the Eureka project in Zambia and drilling is expected to commence there within the coming weeks. Addison Mining Services has provided a provisional open pit profile for the Eureka Project and the shape grade extraction plan will be finally determined by the drilling."

LittleWing, I agree, it's weird feeling almost calmed by a placing, right?

I'm a little peeved that it wasn't a slightly higher price, or that Manica couldn't cross the line in time to avoid doing one at all but all in all I can accept that this is the situation we find ourselves in. Importantly, I can see the positives: no further funding risk, enough cash to accelerate all of our operations, on the brink of several income streams to support the cashflow and a drill that could potentially (potentially being the operative word) be huge.

Also, to be honest, bushranger isn't what I ever invested here for in the first place, so whilst I'm incredibly grateful we're in the position as a result of CB's shrewdness throughout 2020, I'm keen to see Manica start putting out the results I've been waiting years for.

As a result of todays shenanigans my holding is at an all time high, my confidence (from these levels) is too.

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.

Thanks Gixxer

I'm happy as it stands, what a few days!!

For the traders sake let's hope there wasn't a 30m gap before further mineralisation...

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...

...and call the exterminators.

We seem to have a bit of an infestation over here...

Tell you what, you lot all freak out that there's "only" 900m+ mineralisation, I'll buy your shares off of you, you clearly can't be trusted with them...