Member Info for Shorn

@Ella10
The circumference of the earth is c40,000Km - so i reckon it will be the smaller figure (still a very large area though !!)
IMO ATB Shorn

Confirmation of what was suspected...
The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to advise that an Induced Polarisation (IP) geophysical survey has identified potential extensions to the Racecourse Mineral Resource on the Bushranger copper-gold exploration project, located in the Lachlan Fold Belt ("LFB") of New South Wales, Australia.
Here's to a good week.
ATB Shorn

@shareswotter
As i said the first call would be to AA - so from there who knows AA share the data, or CB moves on.
At the end of the day AA sharing data means they have first chance to buy back an asset that would of been fully researched, irrespective of conversations with other interested parties...
IMO ATB Shorn

@Lucky520
Very good point.
I have said previously that i can't imagine that CB is not in contact with other companies (obviously first call would be AA) - with all the drilling and growing of assets why wouldn't you....
Then of course if AA are interested then why not share the old drilling data detail, what's to lose...
I am of the opinion that a lot of data: assays & 3D models, etc will be released in one RNS - the impact on the SP will be similar to the effect of the results of H1, and far better than drip feeding the data.
IMO ATB Shorn

@SH
Agreed - only way ARCM will agree to an EA extension now is with a fixed future completion date agreed with last minute details (legals et al) being concluded in the additional extension. Otherwise if no completion date and consequently no extension, then AA leave themselves open to a very real counter bid from others (let's not forget we know AA have put a proposition to ARCM already).
Importantly, ARCM would not turn their back on AA after the end of the EA, but the gloves are off from that point onwards.
Clearly if AA do not respond to the latest adjustments to the deal as prescribed by NvS then again the EA could be ended and the opportunity opened up to the wider market (2 companies i believe).
Trust me here - they are too close with factors stacked against AA for this not to conclude.
IMO ATB Shorn

@pc911
Your simply wrong.
There's an ongoing negotiation following an EA extension.
Having been through this process myself 3 times over the last 19 years (non-mining) - i can tell you any legal issues worrying AA will have been fully disclosed by ARCM early doors DD (last year) and are already warranted against. You always get the bad news out the way early to test the incoming purchasers resolve, they like the honesty as it saves time and money.
Thinking that you can hide issues for later are tactics of fools and actions well below these guys pay grades.
Trust me at this stage this is fine tuning a negotiation and structure with resultant house keeping to get affairs in order leaving no reason for AA to not do the deal(s).
There is not a large company on this earth having spent the best part of a year with expensive independent lawyers, accountants, & consultants, etc to arrive at a licence issue at the 11th hour.
Price, price price and possibly deal structure is where they are at....
IMOE ATB Shorn

@Joeman1
Totally agree with your view, could i also add that CB may already be in initial discussions with AA and / or others (subject to AA buy-back obviously) with the latest data in order to establish "initial" interest...
After all coming back to the AIM with a fuller explanation assays, 3D models and initial market interest would send this SP flying...
Compare that to the drip feeding of data which after H1 was less that perfect...
IMO ATB Shorn

@longfell
It's my experience that when signing an EA - "heads of terms" for the deal are already agreed (in the case of ARCM last year).
AA concluded the initial DD to their satisfaction and then jointly agreed to extend the EA.
What typically follows is continued updating of financial, legal, and more importantly technical DD all through a process where ARCM will address a hit list of issues to be put in order (prior to the deal being completed). Rothschilds were installed and as assets are being proved up and the market and prices increase the final price and structure of the deal are thrashed out by the 3 parties (which as we know from the IC is bouncing to & fro currently).
Nobody would delay drilling or developing their business during an EA period, as it is ARCM's insurance of continued revenue, or to further attract alternate potential purchasers (2 of which have been already been mentioned).
I would suggest the licences are part of house keeping that is defining part of the potential deal(s).
As time goes on the pressure on AA to conclude or lose the deal increases. In my view this will not run to the July date (end of EA) as this is simply a long stop date. I cannot imagine the ARCM BoD agreeing to a further extension of the EA without a planned completion date that they would be jointly working towards.
IMO ATB Shorn

@shutts
What is the implication for Copper & Gold given what you say ?
ATB Shorn

@CE
Actually i just checked the "The week ahead..." email from LSE i received Sunday evening 20.03, and it says the AGM for Xtract is today...
ATB Shorn

@Tam22 i think i read it was tomorrow 13th May.
ATB Shorn

Just listened or the first time, for me this was an excellent IC, anybody looking to invest should take note...
http://www.arcminerals.com/news/media-and-press/default.aspx
Further, where Remy talks about the plant and the various modelling scenario's...
Given stated free cash flows of c$35m - $45m (Cu price dependant), set against capex of less than $10m - is anybody able to estimate what the SP might look like and when next year ? - I ask this as it was stated on the call that this would be a game changer in itself...
ATB Shorn

Lot's of blue trades going through...

@fishysaurus
Totally agree.
Topped up 3 times in the 6 months, adding 245,000 around 9.30am.
Absolute no-brainer, as Jubes is on a march upwards - i posted months ago saying JLP would present steady SP increases, with the usual market fluctuations, combined with project based / financial result based times of SP acceleration.
Take those temporary retractions when you can.
IMO ATB Shorn

@aprogerson
Thank you an excellent update. As i haven't had the benefit of listening to the latest IC recording yet i personally am unable to comment on the specific detail.
However, to complete the comparison what would the difference in the "suggested - adjusted" market cap in terms of the current SP ?
ATB Shorn

@cattleman
"....anything could happen but what ever it is we will all have a broad smile....just don't exit to quickly ...that's my take..."
If you take the Lassonde mining curve as fair description of how this may play out, then we have plenty of time for the SP to continue to increase after the initial "deal" news, and would totally agree with your thoughts on not leaving this opportunity early.
IMO ATB Shorn

@cattleman
My situation too - i have emailed the company late Thursday asking them to repost on this board and their website, after they posted the old Feb 15th one on this board after the live call.
ATB Shorn

@theiceberg
Excellent blog and nicely balanced - so essentially we wait for drill result(s) to c150m depth in the extended area to the NW which hasn't been drilled yet. Do we have an idea when we may get this data ?
Please for sanity - no answers using words "imminently" or "shortly" ;-)
ATB Shorn

I have just emailed them to ask them for the latest to be emailed through or post it on their web site...

in Feb