Member Info for LittleWing

I just dont get what the point of that RNS and interview was as they told us nothing. trying to make something of the concentrate process which is neede3d anyway just came over as hiding something.

And the roast interview boys lapped it up lol

Was anyone else expecting the study to give a full economic viability picture ? Or was that just me hoping for some meaningful guidance ? Any ideas anyone what including the capital costs would do to the study ?

"16 economic pit shells were modelled in the Interim Report from an operating cost perspective only with capital cost requirements excluded and to be finalised on completion of the Study. The 20Mtpa and 25Mtpa open pit options potentially generate significant operating cash margins dependent upon mining rate, copper price and cut-off grade"
I don't think in the real world (where we were hoping to sell on the project) that reads very positively tbh.

MaBaker... we have to acknowledge what the market thinks... unless you think Optimum will be buying Bushranger !

In layman's terms he is saying if we throw a shed load of copper piping in the machine it will look like we have found more copper.

"Lets get to nitty gritty is this kalengwa debacle likely to damage XtR robust balance sheet? If not then for me there is no issue."
Its an issue because it directly affects the credibility Colin (and hence XTR) has with the market. That directly affects the SP as we have seen. Its a big issue as the markets's verdict is probably "why should we believe him this time ?"

Colin's bigging up of those projects give me plenty to be concerned about tbh.

Hopefully some meaningful questions have been asked.

The gushing about the now dead deals done at the time by Colin show him to be either clueless or purposely misleading.
Kalengwa
Kajevu
Eureka
Moz Gold (so lucky to work with them).
There is a word for purposely misleading but best not upset anyone.

"mistakenly" as in "accidentally on purpose" ?
Colin has made misguiding an art form.

That will be all of us unless Colin delivers something...

Howezap...
"But like many I allowed myself to get swept along with CB without fully evaluating the bigger picture of just how much work, money and time goes into proving a viable resource"
You like many were told by Colin that there would not be death by a thousand lashes (or whatever exact words he used) and that what he was selling to investors was a quick "tie a bow on it" that wouldn't need to be drilled forever and proved up in the way that would be considered "normal". You were also led to believe that 2m tons was in the bag and that grades and quantity was not an issue. You were swept along because you didn't feel at the time that Colin was being economic with the truth.

3 years ago it all looked so promising !

Plenty of time for Colin and Mr Nelson to kiss and make up...

Colin stated several times that a major would only be interested in a project that would give them 25 years or so steady revenue. He told us the grades we were getting from the assay returns would be ok for that sort of project. If that was correct the open pit study would not just be concerned with the "high grade" cap giving a 9 year life. Yes of course the study would stress the importance of the shallow area giving a payoff in the early years but to go from 20 million tons per year for 25 years to a 9 years only study ?
I'm starting to think the plan has totally changed after the disappointing reality of not being able to show a mine of 25 years that a major would be interested in (Colin's words). Colin did mention we would be looking for a partner. He has enough information to know if we can make a go of the shallow stuff ourselves without having to necessarily convert the JORC to indicated/measured. A Fairbride type deal ?

That is the problem we have.

I wonder if he will go back to O'Kief !

It is not just the PFS and DFS that constitutes a DtM though. Evidence that the first stage of developing the proposed mine would need to be shown. Its not so much that AA have us at their mercy but more we are going to have to find a way of making a valid DtM that would satisfy AA. Regardless of Colin wishing AA would turn the project down, AA dont have to if they know we are going to find it very difficult to come up with a valid DtM. the hoped for outcome has not been achieved and the SP reflects that. I'm not saying Colin will give up on BR but that doesn't mean any solution he comes up with will benefit shareholders.

Having fallen short of the 2m tons trigger, AA basically hold all the cards now. Supporting studies to make any DtM valid will have to be accepted by AA. Its going to cost a lot of cash for no increase in resource size. AA will be happy to sit there for years as they know thay will be able to pick the project up at any time they want at the price they dictate. It matters not that "somebody else" may well want it. Phase 1 and 2 has come up short of what we were hoping for and that has given us a big problem.