The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
As a clue, these holes are pretty good. As proof of the investment pudding, they're a bust. Why should the worst numbers in the industry outperform the best ones? Just asking.
Solid like my morning offering. These are not solid results, these are further proof that the rocks are just not there.
202m of %.23Cueq... your kid cant bat or bowl, quick get him into darts&snooker.
What was I wrong about exactly?
Thank you for the kind invitation Steve.
No, I currently have no financial interest in xtr.
I did own shares for a month or so there. I was attracted by finding the next bigncopper thing, and happy with xtr's general location, and the buzz aro some neighbouring plays. And most importantly, they had that drill hole which kept getting longer and longer, which suggested real size. Would they have the grade as well.
When I saw the visual grade estimates I bailed out at a small loss. Could have been premature, but the assays confirmed the visuals. My question was answered. It then became, at best, a watchlist stock for me. If later drilling changed the picture, well then I'm only a mouseclick away. But I wasn't/am not holding my breath.
What motivates me to post? Doesn't everyone enjoy the idea of being proven right? It's not the noblest of human characteristics, but I never said I was running for pope. And I just like talking about mining explorers... some I think are awesome, but others less so.
Cheers
I do not think we will be selling any more royalties, although I personally prefer that route instead of further equity dilution.
Orthern is the only person convinced by the Crux report.
Yes, the new resource estimate will be much larger. But....the grades are still so-so to lousy. It's not enough to beat one's cut-off grade, (which itself probably assumes $5/lb,) you have also also pay off the capex and also make a profit someday. The new larger resource is only relevant when it supports a much larger production rate, which naturally requires a much larger capex. Huge capex wants a superior project, not a marginal one. ("Marginal" being generous in this case.) There are dozens of other copper projects that are ahead of the queue compared to xtr's.
I also disagree that this will average .3 or .4. I think it will average in the .2s.
If hole 35 is your stand-out, then you're well off the pace. 64m at 0.58% CuEq from 552m...an ok hit, on the face of it. Unfortunately, this is far too deep to justify an open pit, and far from rich enough to justify bulk underground extraction. It's in no-man's land.
As long as the drills are spinning, there is always hope for richer and larger mineralisation. But hope is for sale a lot cheaper in nearly every other explorer I can think of.
I think they will do exactly that Jimmy. The only possible complication would be, say, if they go with a new plan with double the production rate, that would require maybe $30 million? extra capex, which would mean an extra $15 million for capex that ALL would have to (happily, easily) come up with.
You fools want to sell out too cheap! Probably another BHP shill.
Josemaria's feasibility study worked on the basis of $3/lb copper. Xtract's scoping study showed their project to be completely hopeless at $3/lb. They're really not similar.
Oh indeed. I thought that was lousy timing, and I have to believe that they did too. Buuuut, from their insider position, if they're sure that the FirstTin deal is happening, then that's an easy 3-bagger, maybe 5. Or if they know the AJQ spinout ipo is definitely happening, then that's an obvious 2 or 3 bagger for starters. Or if they can cheaply buy up a 49% piece of the infamous Lakes Oil, then that is epic, and worth selling 15% of their current winner for. All without touching a cent of their Solgold holdings, which are obviously the main event. How many of us sell at the top then catch the next bus at the lows? It's bloody unlikely, even with 40 years experience.
I think that's an excellent summary, especially the Holy Trinity part. And this is simply not the venue for it.
A very pertinent question DBW....I just assume they're the same bloke in some South Melbourne troll farm, aiming at immiseration.... I mean, surely Quady is an over-the-top charicature of a proto-fascist Islington Guardianista "modern parent" right? Couldn't possibly be real.
Back to rocks and dollars, please?
A very pertinent question qbm.
As a fellow DGR-soul, I plead no contest to bm's (often libellous?) allegations that DGR's management seem to feather their own nest. Whereas I do listen to gurus Irwin and Middlekoop, who have nothing good to say about Nick. Then again, I also listen to Mark Inca Kola, who slanders all three with gusto...and he's a repulsive "personality disorder" type. It's sometimes important to remain undecided, although it is uncomfortable.
But I would say that DGR is incredibly pregnant. Au$65 million market cap gets you $100 million of Solgold shares, and $40 million of Atlantic Lithium shares. ALL strikes me as a high- confidence, low risk, underpriced, front-of-the-queue, highly leveraged sure thing, in a commodity that's 8bagged in the last year, with a sparkling future. A very rare confluence of properties.
And then there's DGR's problem-kids, ANW & AJQ. ANW was seemingly dead, now they have a deal to sell their tin property for ~3x their market cap worth of equity in Firsttin, a super promising lse upcoming ipo. AJQ is proposing an ipo of their somewhat-proven North Australian gas province, on seemingly excellent terms. Basically free money if it works. And then there's Auburn, which is their 40% owned base metal ipo, with some highly legit province-scale early targets, which they might ipo someday. And as the wildcard, they effectively own 8-15%? Of LKO, which is being relisted and reborn, (ala the rebirth of Spinal Tap perhaps?) which owns some high-medium-confidence O&G plays. (And remember, medium-sized O&G wins are bigger than "tier one" mineral wins.)
Anyhow, it's our Nick driving all this, and I really don't think he's a mug.
But then again, they bought into that dnc nickel mob who are this small, and battery metals are a new priority for them, so who knows.
Bhp would generally be buying other companies that are 100s of times larger than ALL, eg Freeport McMoran.
Sorry, only got the original posh twat version...
https://m.youtube.com/watch?v=nTizYn3-QN0&t
That's you & me pooncing about on yachts, any week now.
Could you perhaps translate that into French?
Great to finally put a face to a name. Oh...