Member Info for NicetoMichu

3.5p doable this week imho..

this time next week.. you know it makes sense Derek/Art

Very much agreed cyberiachas

If that question was directed at me fosters .. the answer to your question is: NO I'm not saying that ..

(I'm saying the current market price for an xtr share says that the current market valuation of Bushranger is zero or minus, in my mind at least... but the market price for xtr shares changes all the time.. and peoples interpretation of what the breakdown of the s/p is across the assets of the company varies too.. )

PS: as reported in feedback from the AGM.. xtr will get its already agreed share of future sulphides processing revenues at manica whatever, as long as that processing capability is built out .. it can increase that share by adding some money into the kitty for the build out the sulphides processing capability there..

How long is a piece of string Flipper ?

(eg it depends where the s/p was at ahead of any such placing .. and the size of the placing.. and the whetedness of the market appetite to patriciate versus the opportunity that CB has identified... etc)

If I were CB I'd take plenty of months scoping any blue sky project opportunities as :

1) it allows time for the bank account balance to ongoingly grow out nicely

2) it'll allows time the true value of Manica to xtr drop in peoples heads

3) it allows the flexibility to get a good deal on the future Manica sulphides mining etc.. eg we have money sitting there in a bank account, some of which is readily available to invest in that sulphide plant build out... IF a v good share of future sulphides revenue return is offered to xtr... etc..

4) it allows time for POC to rise .. which will cast Bushrangers value in a much better light.. which should help the s/p decently

5) it would minimize the size of a raise and the discount from whatever current s/p for a raise

etc

Is what I see in the current s/p .

While I think this is very unfair in the first instance; going with that logic, such a thing makes much less sense - again - if CB has now decided not to spend any more money drilling Bushranger from here forward.

(or decided not spend any more money drilling there in at least the next 12 months, would be perhaps a better view for me to take.. as if the POC rises decently thru 2024, perspectives on Bushranger may easily change considerably.. and the xtr bank balance would more readily again facilitate further drilling there too)

The logic behind such a minus Bushranger valuation is, in my best deduction, that not only is Bushranger worth zero now but CB will spend millions more of Xtr's Africa Gold revenue on further exploring it and it will still be worth zero after that

As he may well have now decided not to spend any of those millions more on Bushranger anywhere around the current POC, then zero would be the harshest valuation that should now be put on Bushranger imho (again, zero is far too harsh a a value for it in the first instance anyway btw / imho)

And as I believe that the market will soon wake up the Manica Gold being worth at a very minimum 2p a share here .. my view that this will go back to 2p plus soon enough is plenty merited

IMHO & DYOR

We dig 'oles in the ground for our projects...so clearly nothing to do with the blue sky there.. hence CB is right to say we don't have any blue sky projects :-)

More seriously, none of his other companies have gotten nearly as far as Manica has for xtr.. and very few sector AIM companies have either... I'm very thankful for this achievement... and when people calm down on the emotion and look detailedly at the fundamentals instead, I expect this s/p to go back over 2p

Jus catching up on some good feedback from sundry posters here who attended AGM .. much appreciated.

Clearly people can't help talking their own book to some degree in their feedback.. but that's the case the World over.

CB taking lots of time to have a cold hard look on whether more money spent on BR drilling is the optimal use of the firms now strong cash generation in remainder of 23 and into early 24 is absolutely the right thing to do imho

And that Manica sulphites processing capability build out should be highest short term priority here in my mind now.

Re 'literary no positive news':

The strong revenue from Manica for at least a few years to come .. and maybe plenty more than a few of years to come after the sulphides plant build out ... is blindingly obviously very positive news in my mind.... and the market cap here is clearly very low versus the revenue/assets

And if this s/p were to take a temporary hit from some here for BR players moving on from xtr.l then I'll take that opportunity to add some more here

IMHO & DYOR

'' nothing material we shareholders were not aware of before or hasn’t already been suggested or implied in previous podcasts or RNS''

Indeed Howzap... not least as there would be an obligation to RNS it ahead of the AGM, if anything new and s/p material was to be talked about at that AGM

''BR, disappointing, but not dead. Its going to need a higher copper price. The new study will come back mid to end sep....(Colins timeline). I think it will be profitable at 4-4.5$LB. Who knows when it will be sold, but I got the impression, Colin was mentioning 24/25 for this copper rise, for that purpose. (I'll go back and check another day).

I'm not expecting a big sale price for BR. Maybe a few pence at most. Let's wait to see the NPV.''

Given the market currently values Bushranger at zero p to minus p, the above is ok by me.

The here for Bushranger brigade(s) must already have processed that Bushranger drilling was, in the round, disappointing ..- eg they've watched the s/p get totally obliterated from 7 odd p ...but they picked a multi trick pony for a reason .. and fortunately Manica is likely now worth somewhere in the 2p to 5p a share range.

As a founder member of that here for Manica brigade, I think much wider respect for this fine asset is now clearly merited.

I'm for more drilling at Bushranger, but I'm also for it in a controlled and timely fashion.. and in the circumstances - coffers pretty bare and POC not meaningfully progressing - I'm ok with this break we've had in Bushranger drilling activity.... and I'm for a smallish - 2m USD but LITTLE/NO MORE than that at this stage.. as that is far from an insignificant amount for a company the size of Xtract ..which also has a great opportunity to further invest to build out Manica to make it more profitable again and for more years again too - next phase Bushranger drilling campaign starting in nov. ish...and after that a further period of taking serious stock.

Generally, for a relatively small company to have already spent 10m USD plus on Bushranger and the market currently valuing the asset at zero is absolutely awful.. and if anything like that zero valuation was to be the case after 2m ish usd more is spent there, then it should be far from a given that more again be spent .. etc..

(Including POC hopefully being higher in mid 2024 and the asset being further proven up by then too, I very much hope that this share price clearly reflects at least a few pence a share value attributable to Bushranger in approx. a years time, of course)

Apols Tier.. (as bow now taken, no need for me to add take a bow too Tier :-) )

Is that you buying this morning Tom W ?

Shorts not only closing... but then changing to longs too... would see a proper re rate here in the coming weeks !

Here's hoping..

...but first roll on 3p please

I think charting is far more subjective than chartists would ever let on flipper.. and so is a blunt instrument.. and is a particularly blunt instrument for AIM stocks because of lack of liquidity and they being so news driven.

On fundamentals I do not think this should be under 2p now.. ie the minimum I value Manica is 2p now.. and I don't believe Bushranger is worth zero or minus.. so I think this is in - slow - process of moving back above 2p.. that's not to say it won't have a set back or three in that journey up.....

7 it is .. take a bow ACBoom.. (and I'll allow myself half a bow)

In the circumstances, I'm very pleased with this RNS.

EaZy has great content and I'd forgive him a lot for that.

Alas, the small cap oiler game is generally barbaric for buy and hold.. and listening to the uber bulls will, on average, cost you far - far - more than listening to the uber bears.. still, all sorts happens at any/every turn in this game.. so here's hoping here !

Buying continuing decently today.. nice to see !

Someone looking to mop up a small chunk of these at rock bottom prices perhaps.... great if it's Perenco... or A N Other oiler.. may well be just PI(s) buying of course.. as it takes very little to move this up from these ridiculously low s/p levels..

But if someone is looking to buy even 3 p/c cent of this co. they might push the s/p back up towards 10 p to achieve that?

Indeed, seems no doubt OSV is on the xtr inside Gixxer.... being a board member is possible ... or just employee .. or insider mate even ... (when he mentioned about security at AGM, I had a vague bell ring on CaveatEmptor - aka Charles- mentioning the same re a previous AGM....perhaps he sold plenty in last spike.. and topped up around recent lows to have a low average now and is back as OSV ? :-))

Generally, the xtr board, I'd guess are all CB's mates and when he says 'jump' they say back 'how high' = CB utterly/unhealthily dominates Xtr imho.. has always done, and will continue to do what he feels like when he feels like it.

Thus, this AGM, per previous ones is academic in terms of effecting any meaningful change.. hence why I'd never bother going.. nor bother looking to interact in any way directly with CB... and I say the latter living 5 mins walk from xtr's offices :-)

As ever, it's CB's way or the highway... but I have a soft spot for his 'ave a go 'ero nature...and this share has been a range trading dream for me for years now... but for many others, buy and hold types, I fully get it has been a mare.. and I feel for them... but Manica gives good hope and Bushranger is defo. worth plenty more than zero in a very bad case scenario .. ..and could yet turn out to be a gem too, hopefully

IMHO & DYOR

The cumulative value of the last three trades showing in the recent trades tab here is approx. 10 gbp.. that's TEN POUNDS STERLING to avoid confusion .. that's hilarious imho

(there are a few half decent sized trades too.. but only a few... and only half decent sized .. so agreed Lea Green !.. but from acorns grow oak trees :-) )

I reckon Perenco will want full ownership and will look to buy Blvn out up front of developing Etinde.... and Bowleven will bite for even a semi decent offer .. and a semi decent offer would see this s/p MULTI bag from 4p not to mind 2p..

(Blvn is run by a bunch of hedge fund guys who just want their money back and a turn ...and walk away from this and stick with the day job in future)