RE: XTR Spread19 Aug 2024 13:20
I agree with plenty of what you say below Andrew.. but expect I'm a little less 'bullish' then you on BR and a somewhat more 'bullish' than you on - in the round- Zambia.
eg I think BR only might instead of may well get sold on in 26 or 27.. and that for further meaningful exploration by a player with deeper pockets than xtr .. and that for no more than $30m dollars ....
Differently to you, I do think there will be drilling in Zambia starting this Sept or Oct time.. and concertedly lasting up to 2 months.. and I think that something 'promising' could easily come out of this early drilling.. setting things up for an exciting late spring 25 drilling campaign
Finally, pretty similarly to you, I believe it's very unlikely that there would be a raise here at anything less than v approx. 3p
Off the back of my above views, in the round, I see the market cap of approx gbp 6m at this time as too low by almost any definition..eg I think this s/p should be 1.5p ish around now, even by harsh definition.
(Hence why I toped up twice in the .70 -.75 p range recently, and hence why I'm open to topping up if this went into .60's p .... In my mind any such further weakness would be 'ridiculous'.... but plenty possible given it's AIM and it's a CB company)