Member Info for LittleWing

Does not a company's MktCap only become relevant to how much a resource is worth if they only have that one resource and project ? Surely their MktCap would reflect all their operations ?
Likewise XTR's MktCap would (or should) reflect all its Mozambique, Zambia and Bushranger projects ?
So I'm not sure how relevant other company's MktCaps are to the Bushranger value question as we don't necessarily know what the makeup of those MktCaps are ?

My calcs are just for the conceptual open pit and do not include anything we find in the SE extension and any new porphory that may be lurking under what we already have. Also it does not include anything at depth within the current conceptual open pit area. All thats for xmas 2022 :-)

I think so.
Simple maths will I believe show around 810mT of mineralised rock in the conceptual open pit ( 3 lots of 2/3Pi r3 where r is 250m).
Take your pick of the average grade within that 810mT
0.125% > 1mT CuEq
0.25% > 2mT CuEq
0.5%> 4mT CuEq etc.
Its going to be I feel an excellent new year for shareholders :-)

Should I get another bag of popcorn in ?

in the top right hand bit of the map, is that a small old historic open pit ? I wonder if that was a small gold recovery operation as it looks too small for copper ? My belief is we have 2mT in our growing open pit. If we have 0.5mT at 0.15% in the "known" resource shaded area then each dimension only has to increase by just over 50% to give us 2mT. That blob which Looks like old workings tells me the resource squiged out to surface in that area and was sufficiently good grade wise for somebody to have had a prod.

Hottesttony... what useful information exactly are you giving us all in this type of post ? Your self praising waffle is of no interest to those who understand what they have invested for. A stopped clock is correct twice a day but says nothing of its ability to tell the time. Post something of real value and then maybe other posters will stop seeing you as an arrogant twerp.

Somebody else's turn to share some African geography with Gwynwin :-)

Colin is on a no win here isn't he. If he doesnt focus on the geology he is quickly accused of ramping. Does he present 2mT now with a bow on it, or does his experience tell him he should wait a little while longer to present 3mT+ ? The market as a whole might be displaying a bad dose of doziness but current shareholders dont have to follow that lead.

I dont think I would be comfortable if it looked liked we are going down the JV route as we would then lose control of timescales and costs. JV with one of the big boys would have us over a barrel as they would not be obliged to work quickly for the benefit of our shareholders. Outright sale at a fair price is the only way I can see shareholder value being delivered. The JV arrangements in Manica havent really done it for us although I do accept that may be about to change at long last.

I haven't read any where regarding the magical 2mT that it has to be in our new open pit. In all likelihood from what info we have been given, the open pit without the soon to be proven SE extensions will be around 1mT. Since the open pit scenario is designed to pay for mining deeper, logic tells me we will have a minimum of 2mT. With the phase 2 results I believe we will be beyond 2mT in total (regardless of whether that is open pit or other). I see the open pit as a door which we are unlocking that leads to a valuable resource. Good times ahead for holders imho.

Has this directorate change been announced clearing the way for Mr Read to head up an Australian listed subsidiary ?

If they buy ours it will be their own mine.

Not only is the resource going to have a fancy ribbon tied around it but it is going to be presented on a plate.

It is looking like Colin is not only going to prove we have 2mT CuEq at the Racecourse but from what we have been given it looks like we may well have close to that in the open pit alone. I believe it is conservatively 1mT+ without proving the "waste" is in fact not waste. The deeper stuff is going to put the resource in excess of 2mT from the dimensions we now have. These next 6 months will be lifting the SP as the market catches on.

I don't remember hearing that we would get updated for every hole start and finish... just that over the next 6 months there would be regular progress updates. So that could mean as and when they choose I suppose ?

Yes thats what I have done over and over. I get the SP to be several times greater than what it is now and yet the market hasn't shifted at all. Are we really in at the basement level or have we missed something...

I'm confused now... well more confused than I usually am :-) ... are we saying 20% discount to NPV is that someone may pay us 20% of NPV or that they will pay 80% of NPV ( ie the NPV but at a 20% discount). That seems too high ? I can sort of get that we could receive 20% of NPV / I still dont understand how all this gets to lift the SP (as at the end of the day thats all that counts) ?

FTF.... I totally agree that I dont have a clue as to how much the SP will increase to by the time you realise you have allowed your misunderstandings regarding Bushranger to keep you from benefitting.

FTF... I'm afraid you have totally misunderstood the proposal. The costs outlined are actually paying for a future mine after the open pit is done ! Would you like to hazard a guess to the size of the resource that the open pit will actually pay for ? Once you have grasped the gist of the plan, maybe you will see this as the cracking investment it is ? Or maybe you will be one of the many who will miss out ?

Captainbob.. you beat me to it lol !