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Artrader, you may want to relook at your calcs again there. Post tax profit was $97mil (not $73mil).
https://www.dailynation.info/moxico-bosses-face-jail/
Article above posted a few days ago from a more reliable source than the one posted by rtn. KPZ own the licence. Moxico ordered to vacate licence by ministry.
"The prospecting licence belongs to KPZ International, which has complained against Moxico to the Ministry of Mines for interference in its operations in the mine.
The Ministry has since directed Moxico to vacate the mine or face criminal trespass and prosecution for holding on to a tenement that does not belong to them."
We wont be getting the 33% net profit until the 1m has been paid. So in reality we are paying 200k of shares plus 1mil delayed payment rather than upfront, for 33%. Its a good way to do the deal for us and theyre happy to do it this way. Win win.
Andrew,
Cannot argue with the broken promises and delays. That is a fact which needs to be addressed as has been said before. I think we both agree how we develop Manica is now critical including the finance we get for the plant and the timeline to significant gold production.
With the copper, it could have been a case of take it or leave it. So taking the licence option is the better choice in my opinion as costs/outlay is quite minimal.
The tax rise impacts metal producers not explorers like us.
As time goes on, the country is likely to see the impact of the tax rise on companies and there is a possibility the tax rules could change again at a later date if things are not working out. Major mining operators have been voicing their issues with the rules change.
Interesting article below saying the tax rate increases are actually marginal, so two sides to the story. Mining companies in Zambia are apparently doing very well...
https://diggers.news/opinion/2019/02/26/its-not-the-increase-mines-are-rejecting-tax-inconsistencies/
A move into Copper in Zambia is a good move. For those who don't know, Colin was the Chairman at Kiwara where the company sold the company with its main asset the Kalumbila copper project for $260 mil. The board was responsible for finding and proving the size of the copper resource, so he does know Zambia and copper. Link below to the news article.
uk.reuters.com/article/us-kiwara-first-quantum/first-quantum-buys-kiwara-for-260-million-idUKTRE5AM3Y220091123
The 2 additional copper licences expand XTR's project portfolio significantly with minimum outlay, which was important. I cannot understand the negative comments on here with regards to expanding into Zambia. Its a case of damned if he does and damned if he doesn't here. With a licence there is chance of owning a potential resource and without one there is chance of owning naff all.
Of course, how we develop the Manica hard rock project is important and news on this should be forthcoming and he has stated in the podcasts that we have received quotes for finance of the plant with "significant gold production in 6-8 months" and this is the main driver at the moment.
Andrew,
Yep, a significant change implied in the podcasts for which we have had to join the dots to figure out. We should expect an RNS on this, once plans have been finalised including finance for the tail end addition to Omnia's plant etc.
Andrew,
That is correct. With the plant upgrade ALL ores can then be processed including FB and others around the area, for which many owners of licences do not have the plant requirements to do so as mentioned in the podcast.
Thanks Batfink,
I can understand all of us being slightly miffed but we are in an AIM gold miner after all and things like this happen. Finance for building of the tail end of the plant would be great. Waiting for CB to confirm this. If we can get 35,000 oz of gold per year by year end then that is excellent.
Are we still undervalued? Yes we are, 1.25 mil Oz gold in the ground with not much value attributed to at the moment plus additional Omnia licences plus other hard rock gold sites to process around the area. Alluvials plus 2 copper/gold projects. All at £3 mil. How many Aim companies can you say that about? Keep your hair on guys lol.
Batfink,
Had a listen and agree, we have moved back to plan A from B. It was probably Omnia who requested the plant to be completed first. CB says finance quotes have been received for the tail end of the plant.
My preference would have been plan B, but if we have already received finance quotes for plan A then great. It is a longer wait, but the headache of plant building is solved earlier and significant production is also reached quicker. Significant value will also be added if this hurdle is crossed.
Bob,
The tail end would be used to process sulphide ores and the alluvials are not sulphide, so I don't understand why they would need to do this unless for other processing reasons. I believe the tail end does not exist at the moment.
Anyhow, it does not matter as we do not require the tail end of the plant until the non-sulphide ores have been processed. We can use the Omnia plant as is, as I stated before, as soon as they allow us to.
Andrew,
Not a problem. Yes, we are able to process the non-sulphide material with Omnias plant and this is what was referred to, if you remember in a previous RNS, when it was decided to not build the tail end until we start processing and making revenue from the easier to process non-sulphide rock due to come online Q1 this year.
Batfink/Andrew,
listening to the the Vox podcast, CB is referring to the "tail end" of the plant, required to process the sulphide ores which will be brought online later than the processing of the non-sulphide ores.
We have other non-sulphide ore in the area which do not require the tail end of the plant and CB refers to the Omnia plant as it is, able to process low hanging fruit and this is what I understand is expected to be brought to production during Q1 this year as stated in a previous RNS. Significant production which he refers to, will obviously build towards the end of the year as we will be able to process other sulphide ores in the area with the tail end. So there is no delay mentioned in the podcast.
With regards to the alluvials he says at least 18 months. No one knows how much material we have and we do not know how much Sino have been processing yet. Like a few have mentioned, looking forward to Q1 2019 revenue figures from the alluvials.
all IMHO
Batfink/Andrew,
listening to the the Vox podcast, CB is referring to the "tail end" of the plant, required to process the sulphide ores which will be brought online later than the processing of the non-sulphide ores.
We have other non-sulphide ore in the area which do not require the tail end of the plant and CB refers to the Omnia plant as it is, able to process low hanging fruit and this is what I understand is expected to be brought to production during Q1 this year as stated in a previous RNS. Significant production which he refers to, will obviously build towards the end of the year as we will be able to process other sulphide ores in the area with the tail end. So there is no delay mentioned in the podcast.
With regards to the alluvials he says at least 18 months. No one knows how much material we have and we do not know how much Sino have been processing yet. Like a few have mentioned, looking forward to Q1 2019 revenue figures from the alluvials.
all IMHO
Another project, a copper/gold licence in ADDITION to the previous project/licence mentioned in last months RNS.
We have a few things in the pipeline now, 2 copper licences plus Manica so yes, positive news..
Of course Andrew, we can try to use history to try to predict the future. Does not always work though as we both know. Gold price looks fixed with all the "paper" gold out there. We have all heard the rumours.
Thomas your right, board been sleeping far too long. Hope they have finally awoken now though and there are some indications of that. Lets see what the future brings and I hope like you, its as promising as the RNS's sound for once. Good luck CB and the rest of the guys at XTR, God willing things go to plan and we get a substantial rise here.
Gold price is likely on an increasing trend looking at the macro environment. Week to week is not a true picture of the mid to long term price.
We are valued at $3m for a company with income, now about to increase even further. Hard rock mine about to come online and another project in the pipeline. Management have been rewarded with stock for the first time ever bar cb. Things are happening here....