The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
@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
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
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
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...
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