Member Info for Shorn

Steve4077
Totally agree with that - that's why a revised 3D model and assays would be greatfully received any time now :-)

Listening to CB - he mentioned that the original system is not "pinching out" towards the SE as originally expected, but getting thicker... (Holes 14, 16, & 24). Having proven the SE anomaly has porphyry materials / signals present (hole 25) CB questioned whether the two systems may join up...
If that is the case this would be a c3.6KM long open pit....
A good description is found at 20mins in the 3D model presentation (before the benefit of todays data)...
https://www.***markets.co.uk/articles/trader-s-cafe-with-zak-mir-xtract-resources-bushrange-conceptual-open-pit-study-webinar-7d8cb15/
(replace *** with v o x)
This is truly starting to look like a monster...
IMO ATB Shorn

theiceberg - not taking your comments the wrong way at all (in fact i think we all appreciate them).
I also agree that we need tangible / objective hard facts that will educate the markets to take the SP to the next level.
Folks on this board including me need to be patient as the process of producing a revised 3D model, supporting assays, revising jorcs, and starting the exit process (decision to mine) / independent valuations take time, 2022 ?
Meanwhile, it's surely not unreasonable in advance of these facts for CB to fill in the gaps for current investors looking for positive directional updates.
IMO ATB Shorn

schlemiel
Definition of a tier 1 copper mine...
"Tier 1 deposits are “Company making” mines. They are large, long life and low cost. Using long run commodity prices it generates >$300-600m pa of revenue (i.e. >200 kt pa Cu) for >20 years and is in the bottom quartile of the cost curve."
Folks with a better understanding than me should be able to qualify this - but i do remember reading 200kt pa was doable at 2MT. From previous interviews we know the mine is low cost (earth removal @ at a good recovery ratio). Jurisdiction is good with excellent infrastructure - so personally it defo has the Tier 1 credentials...
IMO ATB Shorn

Thanks theiceberg & Steve4077 that's clear to me - but would you prove up 2MT for the AA trigger along side the independent valuation, OR just decide to mine without a formal revised jorc along side an independent valuation ? - Surely the latter would cast the net wider driving both the market value and SP both up...?
IMO ATB Shorn

And i think Biden will face the problem that new starts (mines) will face resistance in getting permits - so their policy i believe will be no dirty mines in our back yard - go find friends in other countries to invest in...

News
Also i think the elephant in the room that i am not reading about today (on any of my Copper investment boards) is that Biden's 1st bill has been approved (1 Trillion infrastructure budget - including EV charging points all over the USA).
https://www.bbc.co.uk/news/world-us-canada-59192048

My point here is we have seen a recent disconnect between market share prices in miners and the Copper supply <-> demand problems , meaning we all know the issues, and the media & market are talking about it, but "bugger all" is happening to junior explorer Share prices as yet.
Yes we know XTR has to prove up the resource, but the other SP factor is the JV / M&A demand driver from Majors / mid tier minors securing new good jurisdiction projects like ours.
Perhaps now China and the wider markets may see the investment "writing on the wall" care of Biden, underpinning the drive to secure rare resources in the near term. I expect to see Biden and other western leaders making very quick friends on the natural resource front around the world which will be the green light for the Majors et al to move in with "deals".
I suspect on the back of Biden's bill going through and the US wages numbers they had Friday to help improve the markets next week.
I stand to be corrected by those with more knowledge than me. But i suspect 1 Trillion passed is positive for Copper...
IMO ATB Shorn

News
I was at the meeting and he stated they are sure they have the 2MT and that's before the recent RNS's with drill results increasing the size both E & NW.
Clearly he wants more assays generally, and results from the SE anomaly (which if it's confirmed to be a second system) would equate to a second pit taking this whole Bushranger target way past the 2MT AAL option trigger / decision to mine threshold.
IMO ATB Shorn

doesn't like the link :-)
v o x m a r k e t s

***** replace with **********

If you look at the positions of H22, 23 from this plan
https://www.rns-pdf.londonstockexchange.com/rns/0510R_1-2021-11-2.pdf

Then look at the 3D model, at 15mins 21 - you can see how much more this has been extended and at depth...
https://www.**********.co.uk/articles/trader-s-cafe-with-zak-mir-xtract-resources-bushrange-conceptual-open-pit-study-webinar-7d8cb15/

For my laymans eye it would seem like c20% increase in volume (rough judgement)...
I stand to be corrected - Excellent results !!
IMO ATB Shorn

Excellent theiceberg - thanks for the update.
So if i read your views correctly we are looking at...

at worst...
1-> An open pit circa: 1.6km x 500m x +600m deep, with over +2MT Cu, with some areas of extension, and other expansion areas to drill further.

at best
2-> The above PLUS the potential of a 2nd open pit to the SE that could be much larger and if we are lucky similar orientation and economics.

Surely the best course of action would be that when CB & team are happy they have +2MT, to revise the jorc, CB to write his letter (decision to mine) pulling AAL in initially, (or other majors: Newcrest, China M, et-al) to the table with an asset sale that would have a mechanism to gain further value from the additional growing resource (SE anomaly "pit" and beyond).
I agree with an early poster that this SP will increase steadily on results, but only take off when an RNS stating an NDA is signed...
I stand to be corrected but for me this is looking really really promising.
IMO ATB Shorn

SeisNav
Thanks for the data, on the diagram - what does the golden - brown outline represent ?
Forgive the ignorance if this is obvious - for me it looks like the outline of a conceptual open pit, but haven't read anything along those lines on this board...
IMO ATB Shorn

Fulmar29 - thanks
Interesting listen more fundamentals supporting the copper journey.
Add in the "right" eco-political (if there is such a word) environment in Zambia, this all adds to the fundamental case for majors to invest.

SeisNav - thanks for your explanations on the relevance of the recent RNS - you seem to generate many green responses that i had previously filtered - lol

Thanks to you both.
IMO ATB Shorn

https://www.rns-pdf.londonstockexchange.com/rns/5169M_1-2021-9-21.pdf
check the hole positions - defo extensions to existing open pit model

Thanks schlemiel
Unless somebody tells me otherwise these two results are really important, and excellent excellent news...
1-> H10 confirms the mineral extension (at depth too) to the east (including pay dirt between)
2-> H13 confirms mineral in the "parallel" eastern anomaly
Both increasing to the resource outside the current open pit 3D model.
The following is Jeremy Reid talking about these areas from 22mins
https://www.**********.co.uk/articles/trader-s-cafe-with-zak-mir-xtract-resources-bushrange-conceptual-open-pit-study-webinar-7d8cb15/
IMO ATB Shorn

Interesting situation CMRS are the Cyprus platform for potential JV's in both mining (BZT) and metals recovery (JLP). Both industries as different as night and day.
However, you have to ask yourself where we are in the lifecycle of a mine or this investment...

https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/

I don't think folks are getting ahead of themselves, if Colin & Leo move forward with JV proposals, and given the grades from historic and quality tailings this SP is going to fly. The return on investment for metals recovery is far quicker than creating the mine so you will have two effects on the SP going through the discovery phase.
IMO ATB Shorn

@schlemiel,
I agree this incentive is all about keeping folks focused with an end game / exit in mind.
Some things you can keep initially confidential like early discussions on Bushranger with Majors, some things like this requiring board approval you can't keep confidential BUT is a clear indicator of intention...
IMO ATB Shorn

Captainbob - appreciate the detail thanks.

@Montyfino
I agree no JV - i think the 2MT trigger would get AAL to the table and then they would jointly negotiate a new deal which my view would be a 100% purchase of what is known through a revised JORC but with some additional agreement with XTR proving up the additional anomalies including Footrot - as some one earlier here pointed out that AAL is not an explorer so the only way for XTR to get further value is to hold on to those areas not in the JORC. AAL would want some assurance that they get first call on additional finds / growth in the region.
IMO ATB Shorn