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https://www.v o x m a r k e t s..co.uk/articles/traders-cafe-with-zak-mir-colin-bird-executive-chairman-presents-xtract-resources-and-the-future-copper-shortage-crisis-f09a41f/
Copied from Phil of the Sunday Roast podcast:
Xtract Resources
AIM:XTR
• SP 5p
• market cap 42.26m
• shares in issue 845,143,693 some warrants outstanding at higher prices
Xtract is an exploration company focused on copper and gold and is spread over different geographical areas. The main asset being the Racecourse mineral resource, Bushranger project which was originally owned and drilled by Anglo American and the phase 2 drilling is now confirming and extending that data from the 2015 drilling campaign. Part of the agreement with Xtract states that if 2m tonnes of contained copper was identified OR mining operations commence then Anglo American have first refusal to purchase the asset at an independently assessed price. It seems Colin Bird is very bullish in both of these targets being met and actually the contained copper could be significantly larger especially with a large anomaly identified. Should this be the case then the price paid would be significantly higher than Xtract’s current market cap.
It has also been stated in a recent RNS that no new funds should be required as the other projects in the Xtract portfolio start to accrue positive cashflow. These include the assets in Mozambique such as the Manica alluvial gold project, hard rock Gold mining at Guy Fawkes and the mini open pit operation at Boa Esperanza. These positive cashflows should allow the drilling to continue at pace within Bushranger to continue to prove up more copper resources for an eventual sale of this asset.
Another asset being proved up is in Zambia, again a copper/gold deposit with a current strike length of 300m but it is still open to the northeast which has produced exceptional intersects.
4.82% copper over 27m inclusive of 9m at 7.31% and 9m at 6.33%.
Further results are expected in due course and then this could move on to an open pit mine.
New interview.
https://XXXX.be/PDv0OEknsLk
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https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-colin-bird-executive-chairman-xtract-resources-d14517e/
We confidently expect to be able to significantly increase the current Racecourse Mineral Resource, following the results of the Phase One drilling as well as the Phase Two drilling programme which has recently commenced, and any increases to the Mineral Resource will enhance the economics of a mining operation at Racecourse.
I've been watching from the side-lines on LSE and actually run the "XTR Xtract Resources - Chat" on Telegram and have held XTR well before Bushranger was added to the portfolio. I've also studied this type of resource and whilst my words may seem a bit carried away, I do believe very strongly that we are sat on a monster. I think Colin knows this too and has hinted as this several times. Of course, he may be getting a bit too excited, but at his time in life, I don't think so. We've also had his senior staff on one of the recent podcasts to back this up. Good luck all. I'm in the for the long run.
People seem to forget that there are very few copper discoveries left in the world. Australia is a great jurisdiction for mining and somebody will want to develop this. I would be very surprised if AAL let this go, in fact, I am certain that they will want to proceed sooner than we expect. It is quite likely that this will turn out to be 10-12 million tonnes in ground resource once the extended area is included. I am very happy with my investment and am excited to see how this progresses over the coming weeks.