Member Info for RollingInIt

Cygnus

You can exercise all the 'caution' you wish.

Each to their own approach.

Cyber

I think CB's more than happy with the Cu grades in Hole 2.

From the interview when it was at 800 + metres.

______

"the core is very, very nice indeed, beautiful stuff, really beautiful stuff, so with the combination of biotite, which generally in a porphory system, if you've got Gold in a porphory system, you'll have this biotite veining, and chalcopyrite in nice big blebs"

"what is important is we've got 700 metres of continuous mineralisation"

"we're in an area now of obviously, obviously, good copper values and it looks like there's quite a lot of it."

"we're pleased, we're very pleased."

_____

So, that for me, is a description of healthy Copper grades and presence of Gold in Hole 2.

(Now don't have a go at me for missing out the 'errms and the 'and errms', etc)

:o)

Cyber

You're probably right, I'd need to listen again but from memory, he also referenced 'it's about the size or it's the size that matters'. I'm possibly paraphrasing CB and I'm also not sure whether CB is just paraphrasing his better half there either. ;o)

So, same / similar principle, for me at least, confident the grades will be sufficient, given the size of the resource.

And as Jdau points out and quotes from the January RNS:

'known to have a higher proportion of gold in comparison to copper'.

:o)

Just remembered a statement CB made in one of his recent interviews.

'I'm not worried about the grades at all, it's all about the size'

Now, I'm sure he didn't mean 'grades don't matter at all' but it does imply he's already confident about the grades.

Time will tell.

Cadiz .... haha ! Cadia.

Although, Cyber, it's insignificant in relation to it's value if Bushranger keeps proving up the size of deposit.

CB has repeatedly stated, it's all about the size and also it's read over to the 'district play'.

You can see, even a 0.2% Cu is lucrative to a major at current Cu prices, which are set to rise further still. Throw in the Gold content too. Cadiz, which he also refers to, has much higher Gold content the further down the resource goes.

All to play for. :o)

U.S. Approves Copper For ‘Residual Use Against Coronavirus’

https://copper.com.au/news/antimicrobial-copper/u-s-approves-copper-for-residual-use-against-coronavirus/amp/?__twitter_impression=true

Right product, right time. :o)

Backtothesoil

Not sharing your cake ? .... very selfish ! :o)

Wise move too.

'he would update the market if there was a change of material'

Yes, due to his recent successes at Bushranger, he was contemplating a new Guanashina suit.

Haha !

It's possible or it might just have been a fleeing Haggis !

:o)

Dibs

Updates are key to assuage the timorous or impatient.

Iceberg

Are you referring to the Market Cap or the drill ?

:o)

CE

Having received the reply, despite not asking for or expecting one, from WM, confirming XTR's inclusion, I have no doubt at all.

Whether he's breached 3%, to trigger a Tr1, I don't know.

His funds investors comprise mainly high net worth individuals from the Netherlands and 'some Asian investors' (his description). I don't think he advertises a full list of his stocks to other funds, but again don't know for sure, but he was quite happy to name GGP in some of his interviews.

Don't forget to throw in the Gold, even 0.5g per tonne adds $30 a tonne to the equation and average cash cost, or ore processing cost, is roughly $10 a tonne.

Even at 0.2% Cu, which is 4.4 Lbs of Copper per tonne, against the millions of tonnes in the resource, it would be economically lucrative to a major, on top of adding to their much needed reserves.

________

Still more than viable whether 0.2% or 0.4%.

Mineralisation close enough to surface to be open pit.

Average cash cost per Lb of copper at 0.4% is $1.25.

Lbs of Copper per tonne at 0.4% is 8.8

Lbs of Copper per tonne at 0.2% is 4.4

Price per Lb of Copper at todays price of $8,000 per tonne is $3.60

Each tonne, at 0.4% Copper, the margin is roughly $20

Each tonne, at 0.2% Copper, the margin is roughly $5

Add in 0.5g of Gold per tonne at $30

Margin per tonne at $50 and $35 respectively.

Every million tonnes processed, $50 Million or $35 Million margin.

Now scale it up, a current JORC of 71 million tonnes.

$2.5 Billion to $3.5 Billion margin.

Drilling to prove up a far larger deposit of 200 million to 400 million tonnes.

$7 Billion to $20 Billion margin.

Copper prices continuing to rise as demand continues to rise.

Got to be worth quite a few £ 100 Mill to the likes of an AA or BHP or others.

You get the idea, despite the crude calculations.

Ivans

Have you even checked the chain of events with the price here ?

Shares were issued on the 21st of January and the price had drifted back to the placing price on the 28th of January and has been in an uptrend ever since.

You're a bit after the event with that one.

Gixxer

And CB has good form in this regard ....

"and was the founder of Kiwara PLC which discovered the large copper project Kalumbila currently being developed by First Quantum Minerals Ltd. a US$ 11 billion quoted company"

:o)

Gixxer

You can find it on this link also of you do a Google search.

https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/021021-interview-hang-on-for-wild-oil-copper-ride-in-commodity-supercycle-goldmans-currie

'We have no copper, copper inventories just drew their largest observable draw we've seen in the last five weeks, prices are already back to supercycle levels and we have not even started the energy transition story of electrifying the world," Currie said. "Copper is the only thing we know that can conduct electricity at the rate needed, so I'm really curious as to how high some of these markets can go," he added.'

News

Good to know, thanks for that.

I listened to another podcast, over an hour long, with Willem Middelkoop giving an account of his funds processes for investing.

In candour, the host came across as quite boring, probably similar to this post for some, but a few interesting and reassuring aspects were described by Willem.

Such as, over fifty of his funds investments have resulted in a 'buy out', which if you consider the AA relationship already in place here, XTR also has this potential.

Willem has a support team, a small group of analysts with technical expertise and sector expertise, reporting to him. Despite this, he remains the sole 'discoverer' of junior miners making major resource discoveries, in this case XTR's Bushranger.

Apparently, when he 'discovers' a stock of interest, they react quickly, drop everything they're doing so that the whole team can wholly concentrate for the next 24 hours reading and analysing all RNS's, announcements and write ups associated with the stock, technically disecting all data relating to the drill results, location, etc and studying the managment teams history. Now, for me, having read a mixed bag of opinions, which I'm sure all have their own merit, about CB, that gave some reassurance.

No stock is a guarantee but it's good to know, and a cheering endorsement, for me at least, that amongst all of this scrutiny, out of 3,000 junior miners globally, XTR made it on to his fund, which only has a small number of stocks in it, alongside the likes of GGP.

:o)

Great progress !

Don't forget what CB said in his last interview too:

_____

"it's about size and those two holes we've reported have certainly, magnitude wise, have given a very strong indication of a very big system"

"very similar to Boda and Ridgeway"

"we're very excited and waiting for the Gold results"

"I know we've got a big system"

"geophysical suggestion of other porphyrys"

"they're (porphyrys) in clusters, if one's good, they're all good"

"so having these wonderful results at Racecourse, we're fairly optimistic for the district play"

"everybody inside the company is very excited"