Morning in the Tropics28 Apr 2018 05:32
After a b*tch of a late Friday RNS, with the full spectrum of its attendant opinions and comments - outrage, accusations, speculation and opportunism - I see that the skies began to clear late last night with some more thoughtful and clear-sighted posts here on LSE.
There's no doubt that XTR is a serial disappointer, nobody can argue against that. Every time we begin to get off our knees, we are hit with another problem or another poorly worded RNS. Without making excuses, we can put some of
our recent misfortune down to force majeure (the weather), and if CE is right, to carelessness and lack of will on one of our contractor's parts. And while every investor knows, or should know, the risks in start-up gold mining, particularly alluvials, still it is no fun to be caught again and again in these share price routs.
But underneath it all the fundamentals remain; alluvials have always had to be cleared, and we knew from the start what an unpredictable proposition they are. As it is, they have not been a success yet, but neither have they been a total failure - we have been paying our way for six month now, debt-free, with CiB, thanks in part to them. Then we come to the core of our asset - the HR deposits. These are where the paydirt will be, and we have, at least with FB, as accurate an assessment as is possible, of what wealth there is to be tapped. CB said at the end of an interview a couple of months ago that, while he couldn't work miracles short-term with the alluvials, he'd try to do so with the hard rock in six months. So now we are two months closer to really revenue, and according to the Cap'n and CE, who attended last Saturday's event and spoke with the Man, there a major developments on that front about to happen.
So that's where we stand this weekend. It remains to be seen whether the market will begin on Monday to see beyond the temporary disappointment of the Q1 figures. Those of us still holding hope so.
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