Member Info for LittleWing

The temporary position of having more Manica cash than the MktCap is an illusion. Bird's charitable handouts will soon see the SP unsupported as the cash disappears as soon as it arrives. That leaves the SP looking a bit vulnerable at these levels.

Alternatively Lukonde is a switched on kiddy that sucked Bird in too deep with Cooperlemon having sussed that the Manica cash was there for the taking, making XTR hostage to Lukonde.

If Chilibwe can cause so much hassle that Rio chose to walk away why on earth would they be nice to XTR ? Even Kalengwa guy and Moz Gold screwed CB over so I'm quite sure that someone screwing Rio over has it in their locker to shaft more than the license plot.

"Chilibwe have only been ‘restricted’ in developing the project"

So how does that not prevent them from taking our cash and do some drilling ??? They have an agreement to develop the license with a partner. That is now in dispute. Any drilling is developing the project without their partners consent. Asking for trouble here. How on earth is XTR handing them cash to do precisely what the restriction imposes going to benefit XTR shareholders ?

Quite why CB saw fit to splash the cash with a dispute ongoing that prevents development is a bit odd is it not Irishdemon.

The Licence is currently subject to Zambian Court proceedings in respect of a dispute between Chilibwe and its previous joint venture partner which has restricted Chilibwe to date from developing the Project (the "Existing Joint Venture"). Chilibwe has lodged a case with the High Court for Zambia to have the Existing Joint Venture terminated such that it would retain a 100% interest in the Licence. The Licence may nevertheless in the future be subject to further or new challenges or other disagreements.

Howezap is assuming the Chilibwe shares will be worth something. We don't even know if they legally own the rights to the project. If they don't there wont be £500k. Very much like the Moz Gold fiasco where if they defaulted XTR would get some of their shares. Sounds like the Manica cash is very much being spunked away to me. I apologise for not being clearer earlier.

If I wanted to extract £750k a quarter from a public company away from my shareholders to be used on projects that would benefit others (lets say shareholders and directors of other companies whose operations would not benefit my shareholders), I would cover that transfer of money by later issuing bad luck tales. Maybe there would be tales of unforeseen legal challenges or tales of lorrys and plant falling into ravines losing money. Maybe a mine that was ready to work would suddenly be too far away from services roads and plant. I certainly wouldn't be giving out meaningful details about the project I had told my shareholders I was spending their money on. That's what I would do if I wanted to transfer shareholders cash away from them.

Not sure there will be any left NtM...

Colin may as well hand over some more Manica cash to that Kalengwa guy too while the till is open.

Moz Gold Vol 2

More of your fav shareholder hits out for xmas !

Dont delay

Average down now before the SP drops fully.

Well I did try and tell ya all

Lol

NtM... no need to endorse your post with imho as any post on here can only be that. I do note its often added to posts that have suggested what another poster should or should not post. Reminds me a bit of the Spacemen era ;-)

NtM... I honestly dont need that but thanks for your concern. When did you become chief of post police anyway ?

We will have to agree to disagree. Do you honestly think its beyond belief that CB would not redirect some XTR cash to his other group companies knowing he has previous in redirecting XTR money. Somebody benefitted those times and it wasn't XTR shareholders. You guys carry on apologising for him but the SP isn't listening.

Jamesiecakes... I can explain it by saying it would make me unhappy in the same way I felt unhappy about CB handing over 400k to the MozGold company when not £1 of gold was processed by them. was that an intercompany loan which made it all ok too ? Who paid for that bridge that needed rebuilding in Zambia ? Who benefits from that ? Was that a fair share undertaking ?

Howezap... ask yourself what source of cash does the group have access to.

Group licenses are not XTR licenses though. CB keeps saying a good drill on one will benefit all. Perhaps he says that to justify XTR's Manica cash being spent on group activities. How will XTR shareholders get rewarded for a good drill on a non XTR license ? I see that CB will benefit as he has an interest in all the group licenses so a good result any where will benefit him so understandably he would be comfortable using XTR cash across the group. For XTR shareholders to benefit, they will need a good drill on a XTR license not a good result on another group license.

Those nice licenses... would they be the ones that don't have legal issues surrounding their ownership ?

XTR money and resources used to benefit CB and others has been the story here.

My concern here would be if the drilling for XTR has been delayed due to funding issues. The temptation to "borrow" the Manica cash for Bird's other companies cannot be ignored. Joel would be in a position to facilitate that happening. History tells us that when Bird is economical on the news front it hasn't been good for shareholders.