Member Info for Lucky520

https://www.mining.com/copper-price-surges-through-11000-on-supply-squeeze/

Yes Steve, the 3% value came from John's mining journal and he said it was Conservative.
I know nothing of valuing a mine but he has a lot of experience so I'll go along with him for now.

I don't think we should use 10k per tonne unless it's at $15k per tonne.
No major will pay the near peak price for an asset.
They and Colin know when their at the poker table, copper price might fall..... and Colin will say.... its going to 20k due to the shortage of copper. Eventually they will come to a deal and it will not be based on the highs we're at now. All imo.

Let's use $7300 x 2mt at 3%. 1 billion shares in issue.

SP 33p

I can't see xtract owning racecourse in 2023.
The phase 2 drilling will be completed in January I think. The assays will all be back by mid March.
Then let's say 3 months for updated modeling and jorc etc. Maybe June 2021 we will have over 2mt and a share price of minimum 20p.
However I think it may all happen a bit quicker.
Also depends if there is a phase 3 and when that starts.
I really don't want to wait to 2023!

So thier using around $7300 per tonne for copper.
I did think using the current copper price to estimate value was too much, I started using $6000 a tonne to be realistic. Very pleased they are using $7300 pt.

I agree Steve, I think the jorc will come once 2mt is hit.
My thinking is that if there is still a lot more potential for us to release we may get an exclusivity deal with AA and then we can keep exploring if there is potential to grow the resource without too much cost.
I don't want this going on forever but I don't want us giving away a 6mt mine for 2mt value.

Just had a read, 22,216m from 18 holes.
Even then, seems a lot from 18 holes.
Thanks for the info iceberg.
It's opened my eyes to how little drilling is needed for indicated resource. I thought we could be in for a lot more drilling but maybe we won't need it.

Is that just off 13 holes or is that the latest of the drilling? Seems like a lot to get just off 13 holes?

https://www.mining.com/noront-resources-picks-wyloo-bid-over-bhp/

Interesting looking at this take over and the SP move.
The big boys are coming for the green revolution metals.

https://www.mining.com/appetite-for-green-energy-metals-drives-deals/

Remove the space between vox and markets

https://www.vox markets.co.uk/listings/LON/XTR

https://finance.yahoo.com/news/copper-warehouse-stocks-drop-critical-090720863.html

Thanks OC, don't suppose you could post a link to where you researched this?
I've been doing some myself but all the stuff I've watched might aswell have been in Chinese as I haven't got a clue what their talking about!
I need it explained to me in basic terms.

I've been trying to find information on how to digest the geophysics. The current high grade area is in the yellow stuff. So will the red areas be better or are the yellow margins better? I can't find anything online to determine what's the better area.

https://www.mining.com/south32-buys-stake-in-kghm-chilean-mine-for-1-55bn/

This mine has 5.9MT of contained copper with room for expansion. Why go the Chile when you have one in the making in Australia?
Haven't dug deep in research but the mines worth over 3bn!
Maybe iceberg can do a comparison with all his knowledge of the industry?

OK, thanks shorn.

Has anyone had confirmation regarding attending the AGM? Still waiting on mine!

Steve, I really wish I could but I'm genuinely all in. Unless I win the euro millions and I will by you all out for 150 million?