Member Info for Phatbaz

At least the IPO answers my questions from last year, why CB was in Sweden and why JR was in London just before Xmas.
Should be so much news from Bushranger, but nothing seems to be reported. I don't even think the fact the drill team stayed was ever an RNS, the original phase 2 ended in December all the assays from that should have been returned by now.

It's more that Q4 results were reported very very early this year, last year it was the back end of March, this year it was mid January.

Q1 alluvial results released in July last year (2021)

Every cloud, I think this might just help XTR and BR

https://www.reuters.com/business/energy/chile-recommends-denying-extension-anglo-american-copper-mine-2022-04-23/

As a very long term holder I'd love for MTR to finally do something, 5 years ago Sprott and Rick Rule invested nearly £5 million at 3p they had 5 year warrants at 6p (today 60p) these just expired last week. For almost the entire 5 years the share price has been below the issue price of 3p (30p).

How many false dawns have we had in those 5 years, and I wonder how the Sprott clients now view the MTR investment?

Whoever the "unknown" buyer is, they must have acquired rather a large holding over the last two or three months.
Also the size of their trades seems to have increased, maybe they think they're running out of time.

At the end of December the Net Tangible asset per share was 20.1p so looks a little over done today.
But don't forget MTR's loan and the first of the money borrowed against the Sandfire shares are due for repayment this year, or give up the shares.
Anyone want to check how those investments are doing, I find it a little depressing.

Thought it might have deserved it's own RNS.

Hidden in the middle of the RNS
Xtract is extending the Phase 2 drill programme to test this hypothesis.

Personally I'm expecting a mainly share deal, with possibly a small cash element, i.e issue shares to XTR for Bushranger, or possibly just buy Prospector, that way they also get to keep the team, I think they'll want to stay anyway, it will be their baby now.

Also helps XTR shareholders, as no tax liability until you sell the shares, plus whoever buys can keep any cash for construction, further drilling costs, or dividends.

Drill Team

I'm now of the opinion they are on a daily/weekly rate, (unlike the first crew who seemed to be on a cost per meter drilled) for either 20,000 metres of drilling or 6 months, with XTR having a choice.

That's how CB could say the program was 800k under budget (I think he should have said up to 20k meters). XTR have decided to keep the drill team for the full length of the contract, and will get extra metres for their money.

This also works nicely with a drill incentive plan, give the crews a bonus for anything over 20k meters. So it seems possible we'll get an RNS next week, with the final hole number, and a statement that the phase two drill program has concluded.

I'm going off the podcast from July, I thought Jeremy Read said there would be two drill rings going until around Xmas for 25 to 30 holes. The same podcast where he said lots of news flow and assays would be back in 5 to 6 weeks.

How have XTR managed to keep the drill team? CB said you can't get one for love nor money they're booked up months in advance. I'd always thought they'd be off to another site in January after the as break, they did the 20,000mtrs and more.

Was the extra drill time booked in September ?

It's been going on for months, big player and well connected. They also sell to help cover up thier buys, if they're overseas not sure the 3% rule applies.

If the drilling of the conceptual open pit came back with 2M tons of contained CuEq, would they be obliged to tell Anglo. This was talked about a long time ago, maybe that why they're busy showing Ascot's potential before completing the new model.

Both the 20,000 meter of drilling and 25 to 30 planned holes for phase 2, have already been completed, the current drills are over and above.

Today there's been 1.6 million shares worth £85k marked as "unknown" this seems to have been going on for a few weeks now. Just my opinion but if these had been sells, the prices offered wouldn't have been mid price.

i.e reported late 10.58 250k unknown @ 5.091
reported 10.58 1,800 sell @ 5.00
reported 11.00 29,441 buy @ 5.1255

None of the trades over £10k seem to be reported on time, but to me they're all at mid prices, I've noticed all the "unknowns" in the past but never checked.

Am I the only one who thinks Jeremy Read being in London a little strange, I can't find any mention of him or companies he's involved with at mines and money.
Why would the head of Bushranger exploration come to London 2wks before Xmas, doubt it's for the weather or does he has family here.

Bit of a long shot, but has anyone came across either Michael Graham Allardice (Mike Allardice) or Quantum Capital and Consulting Ltd.

Mike Allardice was awarded some options in Bezant last year, but not sure why, does anyone know if CB has worked with this company in the past, just trying to put 2 and 2 together.

All the talk late this afternoon about not being able to buy made me try a dummy sell around 4.20pm, the maximum trade they would quote for was 200k shares @ 5.25p.
MM seem to have a shortage of shares to sell, yet they don't want to buy any either.

If AA buy Bushranger will be valued using the valmin code, part of this uses historical sales in the last five years.
Link below was re tweeted by XTR
https://www.mining.com/appetite-for-green-energy-metals-drives-deals/

They're late reported trades from yesterday, and to me look like sells, but yesterdays price ended the day up.
Not the busiest day today, but no trades from 2.31 until the late reported trade at 5.07, seems a little odd.