Member Info for porvenireal

Drilling results are overdue. Have they forgotten us?

Sorry, several thousand. ;)

Any scenario? Maybe a scenario where we have a Filo or a kamoa-kakula orebody. Ours is still takeover-worthy, but not a history-maker, as I see it.
Stll, the buyout might surprise to the upside, if their lameduck countenance has attracted 2 or more big vultures.

I think I'd rather see the victory of pizzazz over system.

XTR can still drop Anglo's name in any news release, but Anglo's side of the agreement is VERY much "don't call me, I'll call you."

And so now we have the resource numbers.

OK, Anglo-Albanian might offer 100 million zloty's, but Anglo-American? Oh c'mon! It's like in highschool, a 6* pining over a 10... will only end in tears. *(being generous.)

Can a small or midsized company buy this Racehorse etc property instead? It doesn't have to a bigboy, anyone's money is good, right?

Well, the answer is no, and it's a standard problem in the porphyry exploration industry worldwide...ie...a porphyry mine is a long term, long life, HUGE CAPEX serious national undertaking.

Small and medium sized companies can't afford this, and will basically NEVER get such a notion financed, (even if the economics are golden.) So that leaves one, possibly two dozen companies worldwide, who can/will successfully finance the whole shebang, with a nice pay out for shareholders.

Problem there is, the guys in those companies, they're conscientious suits who know the name and phone number of several hundred better properties than this one, for them to choose and stake their careers on.

If you think I'm mischaracterizing Racehorse, I'm all ears.

LW, you mischaracterize me. I am certainly not dancing in the endzone, or going on an "I told you so" national tour. I have had plenty of investing disappointments, and it's naturally hard to hear the negatives in those moments. Please, don't just assume I'm a ####, (we all owe each other that much at least.) A negative opinion doesn't imply negative intentions.

I'm still happy with my summary from 18 months ago...

RE: Colin Bird08 Jun 2021 16:29
Howezap is possibly the most enthusiastic liar here. The drilling results were a massive fail. NOBODY wants 2 million tonnes of sub-ore, least of all Anglo, who have hundreds of more attractive deposits in their little black book. All the gibber jabber since then has been designed to dance away from this brute fact.

Joe, youre doing the hopeful, "next consequences" speculation that follows from demonstrating a good deposit. It just sounds silly with a crap deposit.

If an open and unfettered q&a with honest answers made the shareprice worse, would you be ok with that? If so, at least you're a reality-first investor. In a ceo's job description, honesty and positivity are always the top two criteria, but they will often conflict. Now, he could've said 6 months ago, "forget the 2 million tonnes, we're looking more like 1-ish," which would've been more honest I guess, but with the drills still spinning you're always running on hope. And that would've just brought forward the current price decline, and much the same people would've taken it in the neck.

His positivity has become harder now, with the minus-so-so results.

Well he doesn't owe anybody anything, he's just a guy tweeting about the situation like you and me. I would suggest he has been generous and accurate in his (legally) limited commentary, offered take-it-or-leave-it.

But Andy, who in their right mind is going to buy the 58th best porphyry project on offer? Remember those Ambrian reports where they compare dozens of copper mobs and their likelihood of being bought out? Go re-read them...today's numbers would barely register.

Oh, I don't know how to value hobby mining projects, I just steer clear. Thanks for the Dougal compliment though. If the African adventures save the day I would be pleased and amused.

Well, it's not "clear that they will be mined" because the rocks suck! The numbers have been saying so for a couple of years. Their higher-grade starter resource is anyone else's dregs.

Anyhow, the xtr price is still oblivious to reality. For that market cap you could buy both of Surge in Canada and Celsius in Oz, if you still want longshot copper leverage. Gives you 3 or 4 bites at the cherry, and some highly plausible grades.

A relevant link

https://wordhistories.net/2016/12/28/silk-purse-sows-ear/

I dunno, I'm still waiting for the French translation, wink.

Music to my freakin ears. Bob spits fire.

Shareprice likes the lack of a ceo. A few more companies should try this.

Yes, primarily because one is awesome and the other is rubbish.

If someone offers us too much, then the answer is obviously yes. But otherwise, I would prefer the exploration properties IPO'd to us remarkably long-suffering longs. And dgr. And the ultimate cascabel buyer, I guess.

Nice insightful summary.

I prefer the plain speaking, and also endorse the sentiment.