Member Info for news

I will post the Bolivia info and Sonora info on REM plc to complete the REM story on Sonora. REM has been renamed KDNC.

Correct: 6.182p [typo earlier post]

What a coincidence.

After posting 6p to sell advertised [6.128p], the price advertised changed almost immediately to 6.10p to sell and 6.30p to sell [Advertised].

Share price now: 6p to sell and 6.3p to buy + 8.28%. [Advertised, NOT live] @3pm, Wed, 24.3.21
[Post RNS: Hole 6 drill update just out]

It is 6.182p [6p]

Answer:

To explain it more CLEARLY, no 1 HOLE will ever FORM the final O V E R A L L GRADE.
That is FACTUAL.

So, Edison in their Dec 2020 broker report [latest available], they reviewed ALL the holes thus far including those that Hartley*s reviewed at BODA and CALCULATED THAT ALL THE HOLES DRILLED WOULD COME TO : " UP T O 0. 3 5 G/T."

Many holes have been drilled at BODA. So for Edison to come to "UP TO 0.35 G/T", they would have to ADD ALL THE HOLE INTERSECTIONS TO DATE @Dec 2020, and then to ADD ALL THE GRADES and then to PRODUCE "OVERALL 0. 3 5 G/T" GRADE for BODA.

Even at this point, neither Edison, Hartleys, folks in BODA ever said that BODA HAS TO BE THROWN AWAY given this is Lachlan Fold, NSW, Australia and therefore ONLY LACHLAN FOLD RELATES. Afterall, these types of GRADES HAVE NOW EVENTUATED IN ACTUAL MINES.

So, all the talk about HOLE 1 XTR RACECOURSE can NEVER FORM THE OVERALL GRADE FOR THE DEPOSIT WHICH ALREADY HAS A JORC of 71Mt @0.44% cu copper & 0.064 g/t gold.

WHAT THE FINAL OVERALL WILL COME TO IE TONNAGE OR GRADE, MR BIRD STATED YESTERDAY:

"MOVING TOWARDS 2MT. MADE THE GRADE."

That is a definitive statement. HENCE, NO MORE DAMPERS ARE ON THE FORUM as they are aware that such a definitive statement from the Chairman is the last word. If not, then it can be taken further or otherwise.

Hence, the CAVEAT IS: TAKE IT AS IS.

Each one to take it as they chose for their own investment.

Or seek professional advice as is always advised including hiring a specialist copper geo who is an expert in Lachlan Fold, NSW, Australia.

That is common to ALL SHARES.

Wed, 24.3.21

XTR put out the XRF for Hole 1.

The Raccourse Hole 1 assays came in and there was 0.4% and 0.5% which showed in the XRF.

So, if folks thought that 0.4% is a good result and the expected this for the WHOLE 920m core, they jumped to their own conclusions just from Mr Bird saying 0.4% would be a good result to mean YES, HOLE 1 WILL BE 0.4% ?

To do so, would be what would be CONJECTURE AND MORE. No one knowing basic 101 legals could have jumped from 1 to 5?

Suffice to say, Mr Bird said "Moving toward 2Mt and MADE THE GRADE."

Mr Bird*s statement is DEFINITE and that can only be made once he has consulted his PhD Geo, Mr Jeremy Read, Geo, Former Head of BHP Australia-Africa and Mr Menzies, a SPECIALIST GEO AND CONSULTANT in Lachlan Fold, NSW, Australia for copper.

So, Mr Bird*s statement means that THE GRADES FROM RACECOURSE WILL "MADE THE GRADE."

If one looks at BODA, neither EDISON [or Hartley*s or BODA forum people etc] have EVER SAID THROW BODA AWAY given the Dec 2020 Edison report said: "UP TO 0. 3 5 G/T."
Obviously, it appears GOOD ENOUGH FOR LACHLAN FOLD, NSW, AUSTRLALIA WHERE XTR RACECOURSE IS LOCATED.

CAVEAT: One has to take one*s own decision and view and check accordingly. Some big investors have their teams of specialists. Folks can hire a specialist lachlan fold coper specialist if they so chose and do what they want with their own investment.

Wed, 24 Mar 2021

In answer:
When Mr Bird said 0.4% would be a good result in his previous interview, folks may have put 2+2 = 10? Not sure because a good result to me DOES NOT technically mean that Racecourse Hole 1 would come out as 0.4% OVERALL GRADE for the whole of RACECOURSE?

Racecourse JORC is 71Mt @ 0.44% cu copper and 0.064 g/t gold.

When the UPDATED JORC is done, then it has to be RE-CAL and it will then be the COMPOSITE and THEN OVERALL GIVEN.

I already mentioned about BODA and I gave Hartley*s broker report with the earlier 2020 results plus Edison*s broker report with their BODA*S LATER Nov 2020 results [11 holes]. I said to look at the drill results wherein NOT ALL INTERSECTIONS ARE 1,000m or thereabout and that GRADES FELL in the latter Nov 2020 results. EDISON THEN UPDATED that their estimate is 700Mt to 2.41 BILLION tonnes at "UP TO 0. 3 5 G/T."

Mr Colin Bird has stated yesterday: "MOVING TOWARDS 2MT & MADE THE GRADE."

Mr Colin Bird, Executive Chairman, XTR is a mining engineer and therefore he has to take his PhD Geologist*s, Mr Jeremy Read, former BHP Head of Exploration Australia-Africa, Mr Menzies, Consultant Copper Expert in the Lachlan fold, NSW, Australia and young geo*s opinion before he can say that.

Well, if Edison can give an estimate as above, which the BODA CEO expects/thinks they are heading towards a Tier 1 deposit, then well equally if "UP TO 0.35 G/T" is adequate for Lachlan Fold, NSW, Australia who is to say otherwise ie folks that are not Geo*s [co].

It is the work of ECONOMIC GEO*S- Mr Menzies is a specialist and Mr Read is also a Geo and therefore if they dont know what Lachlan Fold grades are, who knows.

So, that is now a CLOSED TOPIC and any other view on forums means that folks must seek their own counsel or appoint and hire CORBETTS MENZIES, THE COPPER CONSULTANCY or any other such consultancy to confirm and check or they can do whatever their views are.

I think that is quite clear - what Mr Bird said.

Look at Hartley*s and Edison*s reports - they NEVER BASE OVERALL % GRADES ON 1 HOLE RESULT AND NO CO DOES IT LIKE THAT NOR JORC*S ETC.

Please check and consult a economic geo if folks chose that they can hire?

Wed, 24 Mar 2021.

----------------A BIG THANK YOU TO MR COLIN BIRD--------------

Mr Bird*s interview with Sharetalk yesterday, Tue, 23 Mar 2021 post RNS Update on Racecourse Hole 6 has answered ALL dampers POINT/s.

Nothing more to exploit as such. Dampers are aware that if they chose to repeat them and it has been answered by the Executive Chairman of XTR, Mr Bird, then there would be no problem to take matters forward formally or otherwise. Mr Bird also said that he will do his duty to shareholders and that will be NO JV which gives away the project. Mr Bird brought in Racecourse and it is befitting that he will be the only to negotiate with Anglo-American re: agreement or thereafter, it will be opened to the wide industry ie Newcrest and Rio.

Mr Bird is wide awake and has helped shareholders. Whilst we can answer, a definitive "Moving towards 2Mt, Made the Grade & AA clarification with Newcrest - Rio mentioned" sets the tone.

So, a thank you is due to Mr Bird.

News, Wed, 24 Mar 2021.
As said, the % - was higher than norm. Today, another gold explorer is experiencing the same thing and a former CEO has been tweeting as such. Yes, awake Chairman or ex-CEO*s are now cognisant of these types of short-thesis?

Lets put out some points:
1] There is an AGREEMENT with AA for a 1st refusal option to buy 80% of Racecourse if 2Mt copper is reached.

2] In my view only, I think that once this technical 2Mt is reached, XTR Racecourse could contact AA formally to inform them as per the agreement.

3] There may be MORE tonnage but I think XTR has to stop for the moment to see what AA says.
This is a TECHNICALITY ? My view only as I play by the book ie agreement.

4] AA may say YES or NO outright but it appears they cannot VARY the legal agreement technically or else it becomes voidable.

5] If NO, then XTR has already moved on to say per Mr Bird yesterday in his interview that he will then "OPEN UP TO THE BIG WORLD: NEWCREST-RIO." In his earlier interview to yesterday, Mr Bird already said: "ATTRACTING MAJOR COPPER CO*S INTEREST."

6] If AA said NO and offer, say JV, Mr Bird has already said NO TO ANY JV AS it gives away the deposit etc yesterday in his interview. AA could also offer ANOTHER type of deal but again, XTR would THEN NO LONGER BE LEGALLY OBLIGED TO ACCEPT - this is called voidable/void based on VARIATION OF AGREEMENT. XTR may or may NOT agree. If XTR does not agree, they will then move on to Newcrest - Rio as Mr Bird said.

7] Mr John Cornford said a conservative figure is 40p [he gave the fig of the potential AA buyout] for 80% per agreement. Mr Bird said that an "INDEPENDENT VALUATION" will be taken based on M & A recent sales, NPV and risk. Andrew4444 said 100% is 50p?

8] If AA wants to take XTR over completely, then they will have to tender an offer. However, given the agreement, that has to be considered first. One has to see if there have been such situations ie agreement not taken but t/o? I have not seen any personally.

9] Special dividend - the tax implications will have to be considered and the best way to move forward. Potential re-rate technically?

All JUST IDEAS/views as NONE of the above may eventuate in that order- lots of legals etc to consider?

Wed, 24 Mar 2021. DYOR.

RACECOURSE, NSW, AUSTRALIA - HOLE 5
At the recent Hole 5 Sharetalk interview, Mr Colin Bird, Executive Chairman, XTR said "Attracting MAJOR copper co*s interest."

RACECOURSE, NSW, AUSTRALIA - Hole 6 Update, Tues, 23 Mar 2021

Mr Colin Bird [Sharetalk interview] said:

"MADE THE GRADE."
"MOVING TOWARDS 2MT"
"AA
OPEN UP BIG WORLD: NEWCREST - RIO."
---
My Comment:
This latest info comes AFTER Hole 1 Racecourse has been ANNOUNCED via RNS in between this period.

HAVIERON
After 9 holes at Havieron drilled by Greatland, there was a short period of lull. Then, one morning there was an RNS stating Newcrest had JV into Havieron. It was a shock to some people.

In later articles, it was said that Rio was also interested in Havieron.

RACECOURSE
From what Mr Bird said, if AA is not taking up their option, then it will be opened up to Newcrest - Rio. As one knows, CADIA-RIDGEWAY [NEWCREST] is a neighbour of XTR*S RACECOURSE. Cadia-Ridgeway is more gold dominant and Racecourse more copper dominant. Copper is the more green energy metal and going into a supply tightness situ [even now?].

Rio used to own North Parkes on the same lateral linear as Cadia-Ridgeway and Racecourse. However, Rio sold North Parkes to the Chinese for $800m.

Interesting that Newcrest and Rio was mentioned by Mr Bird yesterday.
Again, Havieron is next door to Newcrest*s Telfer, Paterson, Western Australia and therefore the ore feed goes to Telfer. So, a natural fit.

Given that Mr John Cornford , Mining Analyst, Master Investors wanted to know where Greatlanders had gone to, he came to XTR to look for them. Interestingly, he wrote the article to see if these Greatlanders found another Greatland. In his early article, he did say something like it could be potentially a large find sort of thing but was more detailed as details rolled in.

A short history of XTR and looking for Greatlanders by John Cornford.

News, Wed, 24 Mar 2021

SONORA:
"HIT THE JACKPOT.
Reserves 10 times.
Sonora reserves-CAN COMPETE WITH ENTIRE COUNTRIES.
1.4X THE SIZE OF ENGLAND.
250 years ."
From E&T 22.9.20
From a Secker interview on BCN and Sonora Lithium.
Posting for archive history.

Answer:
Mr Colin Bird said subject to an "Independent Valuation" which takes in recent M & A sales, NPV and risk curve.

However, Mr John Cornford, Mining Analyst, Master Investors [Veteran] has given an external indication via his article on XTR [based on conservative figs].

Link: https://masterinvestors.co.uk/author/john-cornford/
[Its one of the earlier articles. The link gives all the articles on XTR]

Tues, 23 Mar 2021.

Newcrest, being a neighbour is a block cave specialist.
Cadia-Ridgeway is their jewel in the crown.
---
Rio used to own North Parkes but sold to the Chinese for $800m.
This is also in the same Lachlan Fold Transverse Zone, NSW, Australia

Given Mr Bird himself now mentions these 2 co*s, he is working fast with EXIT STRATEGIES vs AA*s option.
Not lolling around.

Tues, 23 Mar 2021.

Mr Bird:

"MOVING TOWARDS 2MT."

"MADE THE GRADE."

"AA-option: refusal then OPEN UP TO THE BIG WORLD: NEWCREST & RIO."

"NO JV-GIVING IT AWAY: DUTY TO SHAREHOLDERS."

Tues, 23 Mar 2021.

ENDS ALL DAMPING. VERBATIM 100% FROM EXECUTIVE CHAIRMAN, XTR RACECOURSE.

No 1%-0.62% STARTS FROM 600-700M IN CHILE.

NEW INTERVIEW-COLIN BIRD
-HOLE 6 RACECOURSE [RNS, Tues 23 Mar 2021]:

"Lachlan Fold -EASY to produce.
Average 0.62.
Porphyeries-block cave.

-------MOVING TOWARDS 2MT : GRADE, SIZE: MADE THE GRADE---
Huge tonnage, low grade.----

1%: REALITY 0.62% but 600-700m down [CHILE].
--
AA
Getting in early
INDEPENDENTLY ASSESSED - M & A; RECENT SALESALES, NPV, RISK CURVE.
Aiming 2Mt-AA decision.
If no=OPEN UP BIG WORLD : NEWCREST & RIO.
=
JV-Worst -Dilution-Giving it away.
Duty to shareholders."

My Comment:
All answered. As said, the mineralisation STARTS FROM 600-700M IN CHILE AT 0.62% THAT IS THE REALITY ON THE GROUND.

Yup, MR BIRD HAS STATED VERBATIM: MADE THE GRADE - RACECOURSE.

NEWCREST & RIO [INTEREST IN THE BIG WORLD]

More news out about lithium in Mexico-investors said to be chasing lithium projects.

Industry news.
23.3.21

Tues, 23 Mar 2021.
KDNC - BACANORA JV [Part 2]

I have gone to visit the BCN forum today @12:46 noon. LoL, I see names I am familiar with because one of them comes from another forum in a different commodity.

I am aware this poster*s background because he indicated this before. Mainly, someone who has been in a profession wherein, would require some definitive answers which I put out here on this forum [maybe not in the same vein but of similar pathway].

All organisations have STRATEGIES AND EXIT OUTCOMES whether they be income stream, free cash flow and flow chart etc. All this is NOT price sensitive - one needs to know the strategic plan with $$$ numbers which is not fluffy or on a fag pkt. IT MUST EVENTUATE INTO HARD $$$ FIGURES.

Like I said, LITHIUM IS HOT and everyone is looking like ...., hence they are at BCN but if no answers, I am not sure what they will do next.

One of our posters likes a CEO who is quiet but looks like there are far more commercial nuanced people on the BCN site who may not be of the same mind. Thinks the world of X but not DL who found the world*s No1 lithium deposit at Sonora [+EMH that saved this co*s life] and the other a mgr.

On the topic of Bolivia lithium, if you have read the top copy, then it will tell you how desperate the lithium chase is getting.

MONEY FROM WALL STREET WILL NOT BE FOREVER - those in early can grab the vast sums they are prepared to dole out eg Lithium Americas got $400m just like that for Thacker Pass etc. Core Lithium got $40m just like that from international institutions. Come a time, the late laggers come in and the old situ could replay.

So, no time to waste.

On another forum, bigger buyers/holders now call co*s CEO*s and speak to them via a conference call [London listed co based in Australia]. Gone are the days when its ok to keep silent - co*s now take conference calls. Yah, this is the REAL WORLD where people who work in real work environments need answers.

News, Tues, 23 Mar 2021.

So, I leave it here. I am reporting that I am pleased I am not the only one.

STRAITS RESOURCES, AUSTRALIA [2006 Revenue $972m]
Owner of Racecourse:
"Bushranger: The 100% project lies within the eastern portion of the Lachlan Fold Belt of NSW. EXPLORATION work done by Straits has DEFINED the Racecourse prospect, A LARGE U N I FORM
MINERALISATION SYSTEM OVER 1.5KM X 1 KM with the potential to be a LARGE COPPER MINE."

"Drilling has DEFINED a LARGE CHALCOPYRITE COPPER SYSTEM associated with zinc and good with VERY C O N S I S T E N T GRADES FROM SURFACE.

Mineralisation identified Westward plunge that increase in THICKNESS with DEPTH. "
----
My Comment:
Hole 6 Racecourse Update out today, Tues, 23 Mar 2021.
A REVISIT of what Straits Resources technical geo*s work vs what has been so far FOUND at Racecourse by XTR.

Good technical work must be proven to be correct later ie 2006 vs 2021 [XTR Racecourse Hole 6].

Interesting about uniform etc. DYOR.

To read, just type in some of the text with Straits Resources name and 2006 date.

RNS just out at 10:56am, Tues, 23 Mar 2021:

"Veining pyrite, pyrrhotite, traces of chalco last 10m -
TYPICAL OF THE O U T E R MARGIN OF THE RACECOURSE.."
"At 297m."

-------------
My comment:
Nice RNS. Again, same as the last one from recall of outer and chalco etc?

SONORA NO 1 RANKED - WORLD*S LARGEST TOP 10 [Mining Technology etc]
So, HISTORY records NO 2 LARGEST LITHIUM DEPOSIT IE THACKER PASS IS 100% OWNED BY LITHIUM AMERICA*S, MKT CAP $2 BILLION +.

The other project Cauhari is now 49% owned by Lithium Americas and 51% Ganfeng.
Gan paid $16m for 1% to bring it from 50% to 51%. This is in Argentine.

SONORA
It could easily have been a $1 billion mkt cap or even if just a bit less, $700m as seen in co*s in Australia etc.

BCN *s mkt cap is £145m from the last time I checked. BCN owns 50% of SONORA now [mining part] out of 100% having sold 50% to Gan for a total of some $50m.

REM
Went from shell £1m. DL took a music co shell on AIM and financed drilling of Sonora because BCN could not raise funds in Canada at the time. REM went to £95m mkt cap at the highest intra-day of 2.25p. Most bought at 0.9p or 1p so the mkt cap is then about £47m+.

Phalen told us it was massive even before they finished drilling looking at the map. BCN*s NI43 -101 said it is 7KM of CONTINGOUS STRIKE. 250 YEARS OF MINE LIFE FOR THE WHOLE OF SONORA.

Folks said X and Y ----REM MKT CAP ££47M @0.9P OR 1P [OLD MONEY]
owns 30% of THE GREATER PRIZE AT SONORA.
This is because BCN only owns 100% of Ventana where Gan will mine and this only forms 88% of the mine that will last 19 years.

The greater prize will LAST FOR 231 YEARS [250 YEARS MINUS 19 YEARS].

THINK ABOUT IT - REM DRILLED AND FINANCED THE WORLD*S NO 1 RANKED LITHIUM DEPOSIT.
Was it not worth £47m that folks bought it?
Lithium co*s mkt caps are going into the high MILLIONS , 3 DIGIT OR $1BN +.

I can check the top 5 when I have time for mkt caps but I do recall the Australian ones at the top of the ranks are not cheap from past checking. They are not £47m definately.

Kindly look for yourselves given I have given the names and reference to look up.

One for the history books.

Mon, 22 Mar 2021.