Member Info for Sq52

Think no trade to be seen is an issue with LSE website, same on a few shares I follow.

Just remember the hole 13/14 was last time CB bought in, hole 13 is marginally better than I’d expected, I’m hoping it’s hole 14 that’s tipped CB into buying more.

Hi James,

CBs welcome to buy in whenever he likes and I respect the times he’s chosen to do so. Given the size of the buys, as he’s been buying, I have (although I’m now full, can’t move anything else around).

Only the good man himself will know why he bought in and everyone has had chance to buy shares at a rock bottom price. All I’m saying is hole 14 was being drilled when CB bought his last round of shares and the drill team have an eye for copper %s (not needing XRF).

Hole 14 is a big deal for me, it’s not in the perfect position for the SE drill phase, but anything above 0.15 and it’s a hint that this will be huge.

Given up trying to predict when we’ll get assay results for Xtract, but I’m hoping hole 14 will be an early Christmas present. Not too long in the scheme of things.

Don’t forget that CB lumped with another share buy as the drill was spinning for hole 14.

From the presentation, the crew have an equal eye to a XRF machine, so he’d have a rough idea what’s there.

I should check Twitter a little more often, good to see the disciples spreading to word

Hi news, the phase 1 + 2 CB was referring to was the mining phases.

https://xtractresources.com/wp-content/uploads/XTR-Presentation-14.10.2021.pdf

Page 22 shows the potential different phases of mine, you’ll see that neither SE or Footrot are on there.

I think the mining plan would be phase 1 is the high %’s and covers the capex (plus some profit) and phase 2 is the bonus with any deeper copper as the extra bonus.

I’m also not sure on the link back to prior slide 11 and the way CB talked around it, now you could add the slides / talk together and jump to the conclusion that 500mt (at a lower %) is already in the bag???

Probably reading waaayyy to much into it, I’ve got as many shares as I could, so just sitting back and waiting for it to be revealed.

Another fantastic presentation, thank you to CB and his disciples - now spread the word.

Favourite bit was just under 40mins in when phase 1 was quoted at 500mt and phase 2 1bt, that’s before the SE exploration or Footrot.

Lots of nose itching on Eureka, not sure what to make on that, I’ll need to watch it all again.

So many drill pads to chose from, I wonder where the second drill got to for the next round of drilling ie BRDD-21-23.

Given it wasn’t reported in last RNS, could be moved into SE location?

Assay results and confirmation of BRDD-21-23 before AGM?

Was expecting an up tick for Xtract after passing the $5lb mark, hayho.

With the green push, unless there’s a massive recession, I can’t see how enough copper will be mined to get back into a reasonable stock position short to medium term.

Longer term, with copper grades declining, I can’t see it slipping back either.

Great to be in a copper play, just need to know the size of what we’ve got….

10 days between the RNS from the completion of 7/8 holes to the completion of holes 9/10. I’d say the next set of lab results are imminent or they’re falling behind - this would raise the question about catch up or continued delays on dates.

Then there’s the completion of last two holes and start of the SE campaign. We could be around 300m depth by now.

And there’s an AGM next week.

Drip drip of RNS hasn’t moved the dial (ok we’re up) maybe CB is going for the nuclear option??

The new oil is backed up by this report, detailing why it’ll save to transition to green:

https://inews.co.uk/news/environment/world-could-save-20-trillion-on-energy-costs-switching-green-power-1253843/amp

Does look like copper is getting very tight on supply. LME are very low on stocks.

https://www.mining.com/copper-price-hits-new-high-on-low-inventories/

Then there’s pretty big delay on Rio Tinto’s Mongolia mine

https://www.ft.com/content/3a555491-dd07-4701-894f-58762175e7a0

500,000 tonnes of copper that’s not hitting next year and could go out even further still.

If semi conductors and silicone wasn’t an issue, there’s a good chance copper would be higher still.

Feeling like we’ll be getting a RNS early next week to say completion of 19+20 and hopefully confirmation of hitting mineralisation into SE as we should be about 300m in at that point.

Also be interesting to see what happens if $5lb is passed.

And, should be the next round of assay results about due.

Hi Ella,

Thank you for link, looks like I’ve been looking at the wrong cemetery and the old cemetery could be on the edge of the SE anomaly.

Again, couple of km away from current drilling, so nice problem to have. Little bit ironic if an old prospectors cemetery is on top of one of the biggest porphyry systems in Australia.

Old black spring cemetery is about 5-6km away, nice problem to have it the pit extends that far.

Surely they can say the 2mt has been hit and keep going. They don’t have to immediately submit a JORC or start the process of independent valuation.

Whilst an agreement is important, anything can be negotiated at anytime - just reflects perceived benefits / losses from either party.

It’s the 6 extra Twitter followers buying in.

It is a cracking interview, pulling it all together and kicking numbers around we’ve all been thinking, but don’t mention for fear of ramping.

Outstanding warrants won’t affect numbers too much, as long as you’ve been working on 1b shares in your calcs.

Ok, great progress - but come on……

19th of April RNS

In conjunction with the Placing, the Company proposes to issue the placees a total of 49,107,142 warrants, being half a warrant for every share. The warrants will be exercisable in whole or in part at 8.5p per new Ordinary Share to be exercised within 2 years of being issued. The issue of warrants is conditional on shareholder approval of the necessary increase in authority to issue the warrants. A General Meeting will be convened as soon as practicable and a further announcement will be made in due course as and when the notice convening the meeting is published.

Still waiting for Meeting details, however I note in todays half year update:

The following warrants were issued during the year:



- Issued 21 January 2021-5,555,555 exercisable at 4.50p per share

- Issued 19 April 2021 -4,910,714 exercisable at 5.60p per share

- Issued 19 April 2021 -49,107,142 exercisable at 8.50p per share

No notice given. Sure it will have passed and will provide a cash injection at some point, but not the point.

Sorry, 0.03% out on JORC, had it down as 0.41% for some reason.

Thank you for posts today, some great input and enjoy kicking ideas around and getting peoples input.

Iceberg, star as always and thank you - not sure how many of the 30k views are mine, probably too many as it’s a great source of info, well done sir!

Very rough calcs, but my take on it and rough stab at a theoretical increase:

184m x50m x50m
460,000 cbm
1.2m tonne

0.41% prior = 5 tonne copper
0.51% new = 6.3 tonne copper

Difference 1.3 (ish) tonne of copper
Nice to have, but in the scheme of things after processing etc, not setting the world on fire.
However, increase this over the next couple of assay results and fantastic.