Member Info for news

Colin Bird's - one of his co*s in his stable is +23% on no news. That is also copper focused?

So, we should be next to hear news about XTR's Bushranger project drill expected in early Dec 2020.

Given Bushranger has a JORC of 71Mt of copper and said to be the largest undeveloped deposit in the hot Lachlan Fold, NSW, Australia [Ref: XTR Bushranger 2020 presentation], it is so much easier starting with a deposit already there. This deposit was initially a 21Mt deposit and went up to 71Mt. So, there is scope to increase it to the next level target of 250-400Mt, the latter of which Anglo can if they wish buy-in per agreement?

Other Australian projects listed on AIM London are going at dizzy rises just based on magnetic models?

So, awaiting the start of drill at XTR's Bushrangers as and when the permitting etc is granted.

GUN RNS, 5 Nov 2020 relating to Rincorn's IPO, an investee co.

Link: https://twitter.com/YahooFinanceUK/status/1321760145270071296

"..lets young people borrow ...and allows them to lean on family members for help with the deposit."

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[2] "Market Report: Lockdown reality rattles global markets, but LLOYDS MORTGAGE BOOM lifts London."- Proactive Investors, 29 Oct 2020.
https://twitter.com/proactive_UK/status/1321759694642401281

Link: https://twitter.com/CityAM/status/1321750639332913153 or https://twitter.com/CityAM

Industry news - Lloyds is one of the large UK mortgage lenders. So, the MF article just before results was correct relating to Lloyds mortgage business as at Aug 2020.

"Britain*s biggest banks are likely to move in LOCKSTEP if they decide to introduce paid for current accounts, quickly leaving customers with little choice but to swallow fees, experts have warned."- Telegraph Business, 4 mins ago, Wed, 28 Oct 2020
https://twitter.com/telebusiness/status/1321539712281153537

My Comment:
More of what I said about big UK bank*s new model in light of low interest rates etc.

Andrew & CaveatEmptor

Firstly, I put in the words "operative word" eg potential. Colin Bird did not say it. The reason is to make sure that prior to drilling, it is potential until it is proven by the drill result/s. That is just to cover in case there are newbies.

As for Xtract Resources, Bushrangers [Racecourse] in New South Wales, Australia is NOT a "greenfield project" as pointed out by Colin Bird in his interview today, Wed 28 Oct 2020 with ShareTalk. Mr Bird also re-iterated that the resource is open-ended and gold increasing at depth etc today.

There are many co*s on AIM that have NOT seen even 1 drill hole and already past the £7m mkt cap a while back. I cannot mention the names as one is not allowed to mention other co*s on this XTR forum but suffice to say, they are AIM co*s with Australian licences.

As mentioned in the XTR Apr 2020 presentation on Bushrangers & Align Research, co* go for A$15-20m on the Australian exchange for the hot Lachlan Fold, NSW, Australia acreage etc.

At 71Mt of coper-gold, the Directors believe that Bushrangers is one of the "LARGEST" undeveloped deposits in the Lachland Fold Belt. As I pointed out, it in the FAIRWAY of the Lachland Fold zone with North Parkes, then Newcrest*s Cadia-Ridgeway [40Moz gold] and then Bushrangers.

So, the 71Mt JORC is an asset and as Mr Bird said, that if not for COVID-19, XTR would not have got the project.

I am here for the Bushranger project and I am hoping that the new director from the vendor co, ex-BHP Africa & Australia would be an asset to the project.

I was not invested in Colin Bird*s previous co which he sold to First Quantum which had a 1Bt discovery so I am not familiar with their geo data etc.

Certainly, Mr Bird has said today, they aim to DRILL LONG HOLES at Bushrangers and which he has said on 1 & 18 Oct 2020, it will be like the ole days of Solgold, in that they too drilled long holes. Of interest, is that Alkane*s BODA etc have intersection of 502m etc but at very much lower grades as akin to the other major discoveries in the Lachlan Fold.

As for the other assets, its a plus as and when they materialise.

livestock
Reason why I posted the MF article is because it is a day old and trying to pick some of the metrics eg 1] Mortgage book which MF only knows till Aug. 2] P/E ratio 3} From elsewhere I know the price to book ratio. Also, a new accounting rule which I read means that banks have to give an estimate of provision for bad debt-impairment. Hence, why when bank results are reported, they either beat impairment provision or not.

As for negative rates per MF to provide balance, the latest from Virgin Money is that banks need to introduce new technology to effect that. Today, HSBC reported and they said that they need to begin to go onto a few paying basis which was also echoed by Virgin Money [Bank].

It does look like banks are discussing this with the relevant authorities as one can see relating to dvidends with the Bank of England.

So, we should know shortly.

"Pressure rises for shareholder payouts to resume next year. Lenders want the Bank of England to let them pay dividends because they fear the ban has made them unattractive to investors."

"The Bank of England and commercial banks are said to be batering an agreement that would allow banks to make shareholder payouts as long as their loss-absorbing capital buffers remain strong and they continue to extend credit to the real economy."

https://www.thetimes.co.uk/article/banks-batering-for-the-right-to-restart-dividend-trkwqnrdt

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That*s all from me. We now await news.

"Lloyds Bank is another cheap UK share that has been overlooked by investors. With a share price of 29p, its currently at one of the cheapest prices it has been for a d e c a d e, with 88p being the high in 2015. Nor surprisingly,, it also has a P / E of 8. A recent positive for Lloyds was that mortgage approvals reached a 13 year high in Aug although that could be part attributed to built-up demand from the lock-down. Even so, I believe Lloyds is in a strong position as the UK*s largest morgtage lender."

"One variable that could affect Lloyds share price if the Bank of England does decide to introduce negative rates in Nov. Even if it did , I still think Lloyds is a cheap UK share I*d want in my portfolio with an aim to keep long term."

https://www.fool.co.uk/investing/2020/10/26/two-cheap-u-shares-id-buy-now/ 26 Oct 2020
==

Posted for the P/E data.

"In an interview with Mail on Sunday, NATWEST Chairman Sir Howard Davies said the bank was in a strong position and could resume dividends if regulators decided to life the ban."

"Antonio Horta-Osorio, CEO of Lloyds Bank: would wait for an official update on the ban-which is scheduled to take place in the next 3 mths- and had a "very, very strong buffer to weather the economic storm."

"In comments made to financial professionals at the online Barclays Global Financial Services Conference earlier this mth- seen by the MoS [Mail on Sunday] - Horta -Osario revealed that Lloyds CAPITAL BUFFERS FAR EXCEEDED the requirement set by the Bank of England."

https://www.thisismoney.co.uk/money/markets/article-8775497/Banks-set-dividend-return-NatWest-Lloyds-hope.html 27.9.20

"Furthermore, the Citi numbers crunchers expect "sizeable" capital returns to resume from Feb 2021 onwards."

"The upcoming 3rd Qtr results should see all banks beat consensus forecasts for underlying profits before loss provisions, is Citi*s view, with biggest beat at Barclays."

"We expect domestic banks to also beat on impairments, MOST NOTABLY LLOYDS."
https://www.proactiveinvestors.co.uk/companies/news/931265/lloyds-and-natwest-are-worth-buying-ahead-of-q3-results-reckons-citi-931265.html
"Lloyds & Natwest are worth buying ahead of results, reckons Citi."- Proactive Investors UK, 12.10.20

Results will be on Thur, 29 Oct 2020.

My Comment:
HSBC also said that subject to regulatory approval, they want to pay dividends per IC. HSBC also said that they want to move to fee paying a/cs. So, did Virgin Money also talk of fee paying a/cs so this may be what is being discussed in the industry?

Click Reply and one can my last Thur post @21:17

In summary, BKM had some 51.5Mt of 0.6% cu copper & 0.5% cu. It was sold for US$163m for a total of 400,000 JORC Copper. Then, it will be IPO*ed on the Indo Stock Exchange at US$500m { recent M & A Industry news].

BUSHRANGER, AUSTRALIA
JORC 71 Mt @0.44% cu copper & 0.06g/t au gold.
Ref: Colin Bird: "Inferred resource of over 350,000 tonnes of contained copper."-XTR RNS 1 June 2020.

Supposition:
Answer to Question: If Bushrangers hits 400 Mt, Anglo-American has a buy-in option and the price will be via a independent valuation.

400Mt will be 5.6TIMES more than 71Mt [400 divide by 71=5.7x] &
350,000 tonnes of contained copper x 5.6 times = 1.96 Million tonnes of contained copper?

So, simple maths: If 400,000 tonnes of contained copper sold for US$163 million, then how much will 1.96 Million tonnes of contained copper fetch per the above M & A?
Answer is 4.9x [1.96mt divide by 400k] = US$798.7 Million!!

Kindly check.

From the Colin Bird, Chairman of XTR interview with Sharetalk on 18 Oct 2020, Zak Mir said that co*s are now going 10x. So what about XTR sort of thing. Mr Bird did not answer there and then to the point but later he said in X-Y years, $1 Million co. I tried listening 3 times and not sure if it was $1m or $1 billion? It was not possible for $1m co as XTR is currently already £7m.

To get to $1 billion, it would need a MAJOR discovery and many with major discoveries like Alpala deposit and Havieron have indeed achieved what is known in the industry as a $1 billion rating for Tier 1 deposits.

Hence, Colin Bird said in his interview: "We could have a major discovery on our hands."
[Re: Bushrangers]

Operative word: "Could" = Potential.

Answer: Multiply by the required from BZK recent M & A deal posted just recently.

The above is from the Colin Bird, Chairman, Xtract Resources interview with Zak on ShareTalk, 8 Oct 2020. Link to check: https://twitter.com/Share_Talk/status/1317812740321288192
Please listen and check.
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"Xtract Resources takes control of Australian Bushrangers."-The Assay
"The Racecourse Mineral Resource is interpreted to be a Copper-Gold Porphyry style deposit and the directors believe to be ONE of the LARGEST currently UNDEVELOPED porphyry deposits in the Lachlan Fold Belt, NSW, Australia."
https://www.theassay.com/news/xtract-resources-takes-control-of-australian-bushranger/ 5 mths ago.
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From Xtract Resources Presentation Apr 2020:
"Bushranger Cu Au intersections similar to grade and thickness as Alkane*s BODA discovery [502m @0.6% cuEq] exist and require follow up drilling including 159m @0.6% CuEq & 169m @0.5 CuEq. Now 71Mt. Multiple IP, Magnetic & GeoChem ind potential to HOST CLUSTER , SIMILAR TO CADIA-RIDGEWAY."
https://xtractresources.com/bushranger-project/
https://xtractresources.com/wp-content/uploads/Bushranger-Summary-Presentation_April-2020.pdf

"Pg 4 of above presentation: Map: Cadia-Ridgeway, Lachlan Transfer Zone [3.5Bt @0.26% cu & 0.4g/t au gold], then comes BUSHRANGER [XTR]. Above Cadia is North Parkes 597Mt @0.58% cu copper & 0.2 g/t au gold."

"BODA [Alkane] lies way above Cadia-Ridgeway on the map 502m @0.2% cu & 0.48g/t au."

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My Comment:
Cadia-Ridgeway belongs to Newcrest and on other maps they mark 40 MOZ gold.

Link: https://twitter.com/IChronicle/status/1321150951609217025
Tues, 27 Oct 2020 @6:05pm ["Subject to regulatory consultation."]

Xtract Resources RNS just came out at 3:34pm, Tues, 27 Oct 2020:

-Drill to start early Dec 2020 until early Jan 2021.
-9 holes
-If priority hole 1 is encouraging, then 6 more. Phase 2 drilling 2 holes.
-Racecourse main resource to be re-estimated [JORC 2012]/
-"Resource OPEN ENDED in ALL DIRECTIONS & potential for significant additional tonnage."
-Mr Jeremy Reed to come on to the board from Prospect One - 11 years at BHP, Africa & Australia. Played key roles in discovery of Kabanga North Nickel deposit in Tanzania, Cairn Hill magnetite copper deposit & Boseto Copper deposit.
- Final approval for Phase 1 drilling sought from New South Wales Dept of Resource & GeoScience.
-"Lachland Fold Belt undergoing an exciting renaissance with several co*s reporting NEW DISCOVERIES OR EXTENSIONS to already known mineral deposits." [Colin Bird]

-"Within the acquisition exists a FURTHER PORPHYRY & also some epithemal gold potential which we intend to carry out reconnaissance work either concurrent with or post the intial drilling programme." [Colin Bird]

- JORC 71Mt @0.44% cu copper & 0.064 g/t au gold.
-"Objective will be to continue to EXTEND the HIGHEST GRADE copper-gold intersections to the NORTH-WEST, beyond the limits of the previous drilling & to INVESTIGATE of the copper-gold zonation within the Racecourse deposit."

Bushranger, Australia [Xtract Resources 100%]
JORC 71 Million Tonnes @0.44% cu copper & 0.06 g/t gold.
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From the latest 1 & 18 Oct 2020, Colin Bird said he wants to drill to 800m depth approximately.
Hence, why he mentioned Solgold, good ole days per interview because that was the kind of depth they drilled to.

Tried to see if there was any deal book on copper at the 71 Mt level.
Found that "B K M copper deposit in Indonesia" was sold for US$163 million [aggregate deal] with US$40m in cash when it is IPO*ed in 2021.

"At the end of 2019, BKM boased an ore reserve of 21.1 Million Tonnes grading 0.6% cu copper in the proven category and 30.4 Million Tonnes grading 0.5% cu copper in the probable category. Mineral Resource Statement at least 4 0 0, 0 0 0 JORC copper. The IPO will seal an equity value of US$500m."

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My Comment:
Not bad as Racecourse, Bushranger, New South Wales increased from 21 Mt to 71Mt. With the other gold and copper bringing in a possible US$750,000 a month per Colin Bird [18 Oct 2021 Interview below, it is potentially US$9 million a year or £6.9 Million in revenue [1.3 FX]? Mkt Cap £7m @1.4p.

Kindly check and DYOR. I cant mention the name of the co but one can check BKM copper, Indonesia dated 8 Oct 2020 as industry news.

From Xtract Resources:

https://xtractresources.com/bushranger-project

"The project has a major copper gold mineral resource of 71Mt tonnes at a grade of 0.44% cu copper and 0.064 g/t au gold."

"Anglo American have certain back-in rights to the project."

CLICK the bottom link to Bushranger Summary Presentation 2020:
"Major copper gold mineral resource with untapped potential in the highly productive Lachlan Fold Belt, host to the giant Cadia-Ridgeway & North Parkes copper gold mines."

"Racecourse,Mineral Resource has both open-pit and underground potential.

Map shows: Alkane*s BODA 502m @0.25 cu copper & 0.48g/t au gold.
North Parkes: 597Mt @ 0.58% cu copper & 0.2g/t au gold.
Cadia-Rigeway 3.5Bt @0.26% cu copper & 0.4g/t au gold [Newcrest]
etc.

Anglo-American have a buy-back opportunity....see details."

Xtract Resources, Colin Bird Interview, 1 Oct 2020.
"Expecting to drill porphyry.
Long Intersection, Get the sort of results, good ole days Solgold.
Gold value increase with depth
70Mt copper-gold there."
https://twitter.com/Share_Talk/status/1311623139097485313
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XTR Half Year Report, 30 Sep 2020:
"Racecourse, Bushrangers, New South Wales, Australia JORC 71Mt 0.44% cu copper/0.064g/t au.
Believed to be the L a r g e s t Currently Undeveloped Lachlan Fold Belt, Oz.
Remains O p e n for expansion down plunge and along S t r i k e.
10 K i l o m e t r e S t r i k e.
Interest from Alkane*s BODA , Lachlan Fold 1,167m @ 0.25% cu copper /0.55g/t au gold."
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Today*s News From Lachland Fold, N.S.W, Oz
"MinRex to invest in projects in Lachland Fold."-The Market Herald.com.au, 22 Oct 2020
To read, put this title into the search engine.

"Investor interest increased since Alkane*s significant copper gold porphyry mineralisation at BODA.

USGS: 4-10 porphyry remain to be found.

Newmont & Fortescue purchasing land in the area."

Ref: Colin Bird, CEO, XTR Interview with ShareTalk, 18 Oct 2020
https://twitter.com/Share_Talk/status/1317812740321288192
[Mr Bird talks of $750k a month to come. Also about Bushrangers soon to be drilled in Oz - open at depth & at strike.]

Lachlan Fold, NSW is also near [in the belt] Newcrest*s Cadir [40Moz gold], North Parkes & Alkane*s BODA.
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Align Research on XTR
www.alignresearch.co.uk/cpt-company/xtract-resources/
"Blue sky projects include Bushrangers in the hot Lachland Fold Belt. JORC of 350,000t o;f contained copper quite a coup. ASX listed explorers with interests here have recently seen big re-rates."

"On course for £12.5m share of annual mining profit s within 12 months. Big dis-connect in the share price as our valuation show 480% upside."
CLICK the bottom full note.

DYOR. Xtract Resources, £7m mkt cap @1.4p
News, Thur 22 Oct 2020

Ref: My last post below of today, Wed 30 Sep 2020, Artemis shows TWO 2D Seismic Lines:

1] Seismic Line 18GA-KB1 runs NEAR Telfer Mine & Rincon*s WESTIN prospect, Paterson, W.A!

2] Seismic Line 2D NC87-13 runs near HAVIERON & into Artemis*s Armada licence, Paterson, Western Australia.

Interesting.