Member Info for Lucky520

Just had a listen to the 22nd of June interview with zak again as i wanted to hear more about eureka.
In said interview, Colin says we're building a plant at kelengwa? At the agm he said they were thinking of having a small operation there. I didn't think too much into it and have written off kelengwa. So what is going on there?
Also, anyone on here know the projected income from eureka? From memory I thought it was in the region of 250k a month. Is that right? Cheers

Luckily we have both copper and gold.
I can see where your going.
At first I thought you were a nervous xtract holder, now I know your just scaremongering.

Phatbaz, I would like to know the answer to that too.
Imo I think we can only go to them with the 2MT confirmed in a jorc. So if we don't do the jorc yet, does that mean we can carry on drilling?

I meant 10 bagged!
I was looking at xtracts potential 20 bagger calculations ;)

Your moaning about the jubilee share price not being able to increase due to the shares in issue? Lol
The share price has nearly 20 bagged.
Your problem is not with the shares in issue, its with your entry timing!

We won't have billions of shares in issue!
We will have 1 billion shares in issue and if we need to raise for further drilling it will be an additional 100m shares for every £5m raise at 5p.
Let's say we do raise once for ascot and another for a 3rd porphyry. That equates to 1.2 billion shares.

Anyway we will have close to 1 million a month coming in soon, so that will likely remove the possibility of two raises. We may need one if we want to speed up the process, but I imagine that would be done after the new model release and the confirmation of fairbride revenue start and the SP will likely be well over 5p.

It's not as crazy as it seems, I had a light bulb moment when reading the comments.
The share went up to 9.5 I think.
That was before the two 5 million raises.
The first raise in Jan was 17.9% and the second was 13.2% of the total shares in issue.
I assume that is the percentage of dilution.
Add them together and you get 31.1% dilution.
31.1% of 9.5 is about 6.55.
Thats not including the warrents etc.

I don't know if I am getting this correct but to me it seems..... yes the share price is lower now, but if you allow for the dilution the share price is similar to where it was?

Or am I getting this completely wrong?

4.95 to buy. Must have been a lse fault.

Strange, it was saying 5.3 ask a second ago!

Large spread? What's going on?
Dummy buy at 8 am to find out the real ask.

I think the next rns will be completion of phase 2 drilling or extension of phase 2 drilling.
Holes 7-35 equals 19,362m approximately.
We were told 20k drilling campaign.
There are 7 more holes on the new video presentation.

In my opinion, we need clarification of completion of phase 2, extension of phase 2 or the start of phase 3 drilling program.

I meant increasing copper equivalent and reducing cut off grade!

Howzap, it's definitely to do with the financial side.
The Molybdenum, silver,gold will all contribute to the economics if profitable to recover.
All increasing the copper equivalent and cut off grade.
I don't know anything about building a mine but I'm sure recovering the gold,Molybdenum and silver will all add additional costs to processing.
I'll leave it to Colin and the team to do the calculations and let us know what we have.
I am truly very confident we will all make substantial profits here.

I see caravel Minerals are now using a .1% cut off grade! I wonder if we could be economical down to that with 2/3/4 open pits with one processing plant?

Just had a look at the last rns and hole 33 went to the east, this had its strongest mineralisation at the end of the hole. I think this is the indication of the 3rd porphyry to the east of the large anomaly.
That explains why colin said we're drilling as far east as we can.

I think most LTH don't care if there's a raise.
Let's raise 5 million tomorrow and stick 20,000 metres of drilling in ascot over the next 6 months.
I'd rather Colin exercise his 10 million options at 10p and then do the raise once the share price increases off the back of it.

F100, it will be 15 years+ before bushranger starts production imo. That's if someone buys it soon.
We are not here for that. We are selling it in the next 24 months, imo.

On the 24th of February 24,800,000 new options where dished out at an exercise price of 10p.
That would bring in £2,400,000.
If Colin and the team don't want more dilution and want to grab some headlines, exercising your options when the price is lower than your exercise price would do just that. Put your money where your mouth is Colin!!

Its closer to £300m, remember the dollar to pound conversion.

It's hard to ignore the potential sale price.
If you be ultra Conservative and say 7k for copper and total of 3 MT contained copper for all of the license. At 2% its still 420million us dollars.

Just hold strong till end of march. The SP will be higher by then, IMO.