Member Info for Joeman1

Good market optics Andrew .... but Eureka seems to have been repeating the same line for the past 9 months..... lorries ready to roll to the nearby processing plant.

Colin has made Eureka sound like it's happening tomorrow and is easy for too long without actual copper being sold.... I think it would be timely to finally deliver on that..... it will be like all good news coming at once....

The 2MT isn't equivalent to a decision to mine....

The key reason it's being progressed in parallel is we either need AA to follow through on their clause or allow us to be open to the market to sell to whomever else is interested. If we reach 1.99MT alone then AA could just sit and wait in the knowledge that no other major will take it on while it has this follow on clause to AA that means it could be swiped (majors want mines in operation ... not pocket change off their competitors for their own hard work).. ...
But if we reach 1.99MT AND demonstrate/declare a decision to mine, then AA have to either offer.... or allow the contractual buyback clause to void leaving our ownership of the licenses unencumbered and therefore more attractive to mid and top tier miners.

I think you are close lucky. I think with interim they will want to show they are nearly at 2MT with some assays outstanding.... that way they can bolster the share price ahead of negotiations, allow Manica Revenue to kick in and demonstrably support the company position but give themselves another month of Ascot drilling (because as soon as the 2MT or decision to mine is declared we are buckled in and there's no brakes on this roller coaster).

Either way I'm looking forward to getting something a bit more technical from the company.

And if he sells a few of his Jubilee shares (now that he doesnt need to announce every transaction) he might find a home for the money in some of his other companies.......watch out for warrants conversion announcements and directors purchases ....
Follow the Bird ..... lol

Just missing the 2MT on its own would be terrible. AA could just wait ..... Happy to know that no other major would make an offer as they would be bound to AA by the same terms. That is why the decision to mine is being delivered at the same time.
We need to trigger the AA buy back clause (either by 2MT or decision to mine), then either bask in the glory of the fair value offer from AA..... or ..... if they decide not to offer fair value, within a prescribed period of time (as detailed in the buyback clause that dictates/prescribes the method and timescales for defining fair value) we will be free of the AA agreement and then attractive to other top tier miners.

Either way it's good for XTR but you can see why we need to progress both fronts.

Feels very close now.

GLA

I think the shareprice is largely irrelevant at this moment as long as the African revenue ramps up.... removing the risk of further dilution (beyond existing warrants).
If we are considering the lionshare of the Rc or Br sale will translate to a special dividend then it can't get too worried.

Reasonman.... the +£6million a year revenue from Manica, expected to start producing this quarter is enough to dispel tricky dicky's prediction baseless.... no sarcasm.

And also update the Manica photographs from 3d rendered models to bona fida installed "state of the art" processing plant.

I just got your joke at the end Andy.... VERY true..made me laugh a lot.
Have a good friday

You are the only one who thinks your chances are high. I would filter you but Rick but you will be gone as soon as Manica news hits..... so I don't have long to put up with you.
GLA

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

We need the follow up interview.....

Cheers Andy.

Hopefully this week will impart some news.

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.

That's me ******....... lmao.

If I guess the right answer do I get a blankety blank chequebook and pen?... or maybe a Manica commissioning RNS?

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.....