Member Info for Lucky520

I noticed the small anomaly to the south has been drilled too, but we haven't had an rns about that.

Let's hope the share price stays low so we can transfer 20k more into isas.

Lucky520

Posted in: XTR

Posts: 1,241

Price: 4.50

No Opinion

RE: A few on here09 Dec 2021 14:31
4.8 paid. Negotiated order for even 50k shares.
Rns on the way?

I posted this at 14:31, rns came out at 14:53.

On a completely different note, after calming down from the high of a fantastic rns! I am going to bring up the fact! That the share price spiked and started to rise before the rns even came out!
It is very frustrating and illegal that some have the ability to gain from these situations.
I don't think it is anything to do with xtract but it is the leaks in the process which should be investigated.

There is a correlation between drilling, funding and time. If xtract want to continue drilling at the same speed we may need further funding. If xtract decide to increase drilling and speed, we will definitely need funding. But Colin said at the AGM we will take a break after phase 2 and see what we have. Granted, that was before the discovery of a new porphyry.
I don't know what the new plan will be?
I don't think Colin wants any more dilution but having another porphyry and possibly a third or fourth will require extensive investigation and funding.
I am all for speeding up the process at minimal dilution.
If we carry on drilling at this pace, it would take years to understand what we have and even longer if you want it all in measured/indicated jorc.

My opinion, let's prove up a resource and sell in the next 24months and leave some meat on the bone for the purchaser.

https://www.kitco.com/news/2021-12-10/-Inflation-beast-is-out-and-gold-price-looks-to-3K-in-response-to-Fed-s-policy-says-mining-strategist.html

Alluvial and hard Rock now.
Won't be too long before we get additional hard rock from Fairbride contributing 500k a month to the coffers. I think by Feb March we'll have 1m a month coming in. If they play it right I don't think we will need any additional funding. Then again I'm not against the funding anyway, if needed.

https://www.australianmining.com.au/news/nsw-strategy-to-open-exploration-for-critical-minerals/

Pro mining state, where else would you want a mine?

Great news but if we have had holes 33 and 35, what's happened to the others in between?
Are they holding back to release with an update ore estimate?
Are we getting a presentation tomorrow with all the boys who have been hard at work?
I'm not so fused about the model now but would like to here the Australian teams view on the progress.

Me- I should have made what I want and sell my xtract shares to by the house we want by the end of the year.
Missus- you promised me last year.
Me- yeah but we should have proved 2mt by then and we'll be rich.

Should I tell her that we are in for another phase of drilling and won't likely sell bushranger for another year+ lol

Prospect ore maybe Ella?

We will definitely need a phase 3!

Core pics up on twitter! They look very nice. Maybe higher gold grades?

Wow is the only word!
I've just done the measurements and the ore body if it's one piece is 600m wide from the two deepest points of mineralisation.

4.8 paid. Negotiated order for even 50k shares.
Rns on the way?

Ella I think it is critical to get over the 2mt. That is the clause. I'm not interested in the decision to mine because to do that we have prove intent by way of starting work on it. AA won't just take our word for it.
And the initial capital it would take to trigger that clause, we do not have.

Just answered my own question, a jorc resource account for recoverable ore.
Silly question I should have realised before asking lol.

260kt is approximately $2.5 billion dollars.

I think it's an important question Colin should answer.

Just been taking a closer look at scenario 10.
Total ore tonnes 162mt
Total recoverable copper equivalent @ 87% 455kt
This gives an average grade of 0.28%
If you add on the 13% to the grade it's 0.316% copper equivalent.

Only reason I'm sharing is its brought up a question for me regarding the AA clause.
Is the 2MT target for recoverable copper or total?
At 2MT, 87% is actually 1.74MT.

I know some may find it irrelevant but for me 260kt is a lot of copper.

So I am worth something then!