Member Info for Lucky520

Because colin sent some guy a link to a song.
Let's all rest our hopes on the song lyrics!

ZeroMatrix

Posted in: XTR

Posts: 111

Price: 3.35

No Opinion

RE: Next News...16 Nov 2022 10:44
And for that reason I wouldn't want to be out of this over the weekend ...!

There, said it!

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ZERO, I wish I was out of this a few weekends ago lol

At least I'm in profit ;)

Yes zero, I'm a moron just like you. We all got bent over, but dani still think 50p is achievable hahaha

Dani hasn't got a clue about what she's talking about.... then again, I wouldn't trust a word anyone else says on here either.

Steve, maybe it was the independent consultants that chose to do that?

Cela, they won't fight over it. I didn't say a major won't buy it!!! They all know copper will be in shirt supply. Anyone with an economical copper deposit will be in the eyes of the majors.
Even if they just buy them to mine in the future when copper prices are $7/$8/$9 per lb.
It's better for any major to increase their inventory of projects.
It's better to have a borderline economical deposit with potential around it, than to have a mining license on a piece of ground with no drilling on it!!

It's worth more than 17m

I think 4.5lb is a push at the moment for use in a PFS. I think $4 is more current.
I do also see $5 per lb copper price next year if China removes lockdowns.

To be clear, 1 penny/cent profit means its economical to mine. What we need the new financial study to say is economical to mine at $4.5LB copper with a profit of 25% over the life of mine. Even at this, it is worth something but its not going to have majors fighting over it.
LETS WAIT AND SEE!

We already know it will be economical to mine.
It's at what price and how much profit it will make.
I looked into it a bit and 15% net profit over the mine life is what they class as a minimum.
Australia tax is 30% on mining profits.
So on a mine they want 22% profit minimum pre tax. So on a 8 billion dollar life of mine capex and opex. 2.5billion pre tax profit would be minimum.
I think bushranger will meet that.
Price to sell it? Not a clue. But I would be happy at 60/70/80 million.

Also, we have a positive NPV on the original jorc and 30% of that is still more than our MCAP.

Buzzy lizzy, that's for processing ore. There is waste rock above to be blasted and removed.
It's not something we can really work out without all the data. You can speculate but really it's not worth it.

I find it extremely difficult to imagine that Jeremy read and quinton Mills (spelling may be wrong) have spent the last two years of their lives/professional careers to come back with a resource that is the same as before but they have lowered the cut off!!!!
Does that not sound insane?

Andreww, that's Steve4407 job!!!!! Why didn't you tell us that fact Steve?

Should have been more clear. Colin said the cost to process a tonne of ore was about $10

Stevemocal, colin in a recent interview stated $10 per tonnes of ore. 0.1 cut off at $10k copper price is break even. Remember from the first conceptual study, Jeremy said if we could convert the waste to ore it will impact the economics drastically. We'll that waste can now be processed at break even at 10k.

311million was based on the conceptual study over 9 years. With more years maybe it would be less?

Let's simplify it Steve. No-one here has the credentials so let's talk it out.
Everything is in us dollars.
1.1mt copper at $8000 = 8.8billion
Capex is approximately 1 billion us.
Opex is 311millon? X 25 years = 7.8 rounded up.
$8000 Is break even.
Plus ascot and then some additional potential from the other licenses. Also possibly a smaller mine and tonnage. Maybe $10k copper or $11k
Some more drilling etc.

Maybe at this mcap there is still potential?

There are so many variables that someone unpressional with a pen and paper can not work this stuff out.....especially not in a couple of days.
They also do not have all the data.

What was Steve's previous predictions on the possible contained copper for racecourse?
Go back, I bet they are wrong. Doesn't mean he's wrong this time though haha

I sold a load this morning when I read Steve's posts. I then bought them all back.... made just under £1800 thanks Steve. Hope you are wrong obviously.... taking a gamble that ascot and some more drilling can get us over the 2mt and get passed AA clause. Going to be a few more months or years wait unfortunately. As you all know I have been extremely unhappy but I'm not willing to sell now.