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Maybe if there is so much untapped potential here the best way forward would be complete sale of Racecourse now...... followed by the kind of optioneering deal AA have done with ARCm for the remainder of the licences..... I.e. AA agree a relatively small up front payment for unfettered access to the remaining licences to drill but they commit to an extensive drilling program over the next 5 years.
If most of the Racecourse sale was to come to XTR shareholders as a special dividend..... then the ProspectOre company could be used as the vehicle for the JV for the remainder.....
Well.... its just a thought internet people
The point of the economic evaluation carried out on the existing JORC was to give us an idea of how far we had to go to BE economically viable. I dont think there is any doubt that Racecourse will be economically viable..... Will it be 2MT on its own? No clue to be honest, but Colin did say something along the lines of us being "not far off" in an interview easily 6 months ago... so if we are talking ONLY 1.5MT, ...... I think it is still somewhere we can be happy.
Why the lack of RNSs and interviews recently? It will be easy enough for Colin to give us an indication of why in his next interview (we know he reads these boards after all).... which at 3rd time lucky, should be early this week.
I really can't get worried at all about this share. We might not get the 40p, 50p etc that are the projections/hopes of some.... but I cant see this NOT bagging at least twice this year.
Those are my thoughts anyway.... and the discussions the other week on the Jose Maria sale and the fact that other local explorers are naming Bushranger in their company presentations only cemented them.
Maybe the interview tomorrow will reiterate Colin's plans.... but I think he was quite clear the last couple of interviews "no death by a 1000 cuts"...
Fwiw .... im hoping they have concluded the Racecourse drilling and are busily completing the model now as assays come in.......
I also would prefer if they continued to drill Ascot and other areas while they conclude any negotiations (kicked off based on Racecourse). I agree .... keep drilling and adding value up to the moment the sale is inked....
He has definitely said in an interview thatthey were going to stop drilling and go with what they had....
It is Zak who said he has repeated on numerous occasions that May is the month they stop.
That doesn't mean they won't change their minds..... but it does give us something to aim for
Be careful putting too much value in the lithium concession a.t.m. a quick look around juniors sitting on spodumene deposits will tell you .... even those drilled out and tested to prove they can make battery grade product at bench scale struggle to move their projects along.
Why? Because the lithium market and mining it are far more complicated than the Chinese lithium battery metal spot price. Many spodumene mines find that they can only use a relatively small % to sell to the battery metals refiners, which is where the growth is.... the rest has to be sold to the rest of the lithium Market, which isnt growing and which is saturated with the offspec material from all these new mines coming into operation. There are also well documented mine start up problems faced by even the majors and confusing statements from people like Elon Musk..... which only goes to muddy the waters on whether a project is going to be successful or not.
My gut feeling is that improvements in processing and mining will help this, but in the meantime we are left with lots of Lithium prospects that promise the earth but hardly seem to deliver.
I like Colin and have shares in a few of his companies but he can be over optimistic and fail to relay the challenges faced at times ...... and I fear that lithium spodumene has a lot of bear traps ideally designed to catch the guy out. He has been very positive of the potential, belying the challenges.
I like his ethos of spreading exposure across many minerals so it's not a criticism that GLR has added lithium to its stable ..... but I won't be listening to the lithium hype for a couple of years at least....
My memory was Alluvials stripped back over 12 months by 3 contractors....which would have put 2018 as the hard rock mining .... that never happened, and we were never in the cash position to make it happen.
..... but in truth Colin has had no control on Fairbride delivery for over 2 years now, it has been fir the mining contractor to drive it..... and much of the delays since have been COVID related so much as I agree we are maybe 4 years behind the projections, I'm not going to grumble.... AS LONG AS IT STARTS THIS QUARTER!!! lol
GLA
One of the Bezant concessions is in the Philippines and is waiting on its major stakeholder/ future developer arranging an IPO in Oz...... there is a chance he could visit them as well ..... speculation that if they raise sufficient capital they could buy BZT out and to that end there would be value Colin discussing this.....
I still think his business in Oz was XTR focused though.....
If im honest, I might have rose tinted glasses here but I think it is somewhere I between..... not a moratorium....... but building for a meaningful joined up release (I think this could apply to both OZ and MOZ).
Would be good to hear that from someone officially though.... im needing a new pair of glasses and im trying to Avoid picking Ozzys blue tinted style
Although not to hang hats on. I'm sure someone indicated Manica commission had started. That lines up with the last Empress release a couple f weeks ago that showed the final item of packaged equipment installed.
I'd say we can all expect news on this shortly.
And crazy projects like this.........
https://atalayar.com/en/content/first-steps-electricity-connection-cable-between-morocco-and-uk
The company needs a revenue or a significant war chest in my opinion. That's the reason it can't lift itself up based on the quality of its assets. Its one of Colin's companies that is still looking for the thing that will suggest to investors that dilution risk is low.
Cyprus revenues are 12 months away so maybe selling Mankayan once it's funding is lined up will be the catalyst.
The other potential is that once a certain other horse in the CB stable lifts off, there will be a lot of money in the hands of people that believe in Colin's abilities and also an increased trust in the wider market (why would anyone think this is a lifestyle share for Colin when he is suddenly very rich). I'm expecting there to be a very positive Colin Effect after that......
More money in the coffers will help us accelerate some of these excellent opportunities we have and then we will start to see some return on our investment. Its currently going steady away.... which is good but im sure they would prefer to go faster.
In the meantime the price stays low.... allows us to build whatever position we want.... without chasing the rising smoke.
That my thoughts anyway.
Just looking through the website again and the project pictures could do with updating.
- Some nice... almost finished Manica
- adit and workings at Guy Fawkes and Boa
- pitting at Eureka (with some full lorries if they are that far on)
- couple of model snapshots of Racecourse
And a nice picture of Colin with his racehorse (even although it runs as Star Zinc, which is a reference to operations of a different company).
I'm a visuals type of guy.....
If it isn't closed off to the south, then I assume the mining plan and resource estimate will need to consider a higher stripping ratio as they can't assume it will all be pay dirt as the pit returns to surface in that direction.
But they should still be able to declare the decision to mine... surely....
"....world's worst economics...."
It was based upon the original JORC that is likely at least a 10th of the resource we will be declaring soon.. and based upon a plant sized to process a much larger resource. What it showing is original JORC was marginal and uninvestable..... but on that basis a significant increase 3x... 4x... will be attractive.....
We are about to declare 8x.... 9x... 10x..... or more.
I'm afraid your arguement is a bit weak trying to suggest we won't have an attractive economic model based upon the last one produced. Best just to focus on your own investments as you seem to wear brown coloured tints when you look at XTR.