Member Info for Sq52

Howezap, I was thinking exactly the same thing! Enjoy playing the guess the location?

Picture taken to show both up and down in the top location, so they’re not there… could be SE/SW extension or Footrot, will be nice to see results from either of those.

Appreciate the photos being posted to keep the feed going and I know they’ll be reading the BB and having a laugh, know I am.

EU joins emission targets, more copper needed

https://ec.europa.eu/commission/presscorner/detail/en/IP_21_3541

Not just tax it, might nationalise it!

https://www.reuters.com/business/energy/copper-price-boost-perus-socialist-swerve-worries-miners-2021-04-20/

Carrying on the guess the drill location and based on the latest XTR Twitter photo

https://mobile.twitter.com/ResourcesXtract/status/1416414978505166852/photo/1

I’ve placed the camera on follow location looking east over the mound and towards the clearing in the background.

33°50'26.8"S 149°41'12.6"E
https://goo.gl/maps/xyiWuTVw2JaJa9dbA

Is it two drills in this location or one?? Is CB hiding behind the mound waiting to pop out with a drill plan?? Either way, we’re going after the sweet spot in the saddle.

Nobody really understands the rules apart from CB. Just play along, go Johnny go go go go.

Hi Ella, advantage of a shallow JORC revision would be it falls below 2mt needed for AA buy back, but big enough and confirmed enough to get banks green light for CAPEX.

Everything else eg Footrot, SE / SW extensions and anything the drones locate would need JORC complaint drills and cost a bucket of money.

Would then fall to AA to make decision if to pay premium to buy the lot back as Xtract can go to mine or AA lose right to buy.

Game of cat and mouse, but just a guess on how to get power back in any negotiations that may / may not be going on.

Times have changed since the original drill programme started. The major economies have committed to using a huge amount of copper and demand has yet to kick in (China, Biden, UK and EU will speed up from past few days)

The higher copper prices have been cemented in and could increase further still if the wedge patterns are to be believed (check Twitter feeds)

Banks haven’t gone pop and are looking to invest (CB interview, assume he’s been talking?)

We know there’s huge untapped potential in Bushranger. I’d say cards have moved into our favour.

So:

We haven’t had an AGM

We don’t have a shared drill plan, but have an aim.

We don’t have a shared 3D model, but should be completed by now.

We have started a targeted drilling and could be existing JORC sweet spots (interview/ photo / map comments) to prove up shallow mine potential. Why go to this trouble???

Question: if you think you have a monster, have enough shallow copper to pay CAPEX off and clear debt before going deeper (all profit) have banks willing to stump up cash and could find a plan to keep hold of Bushranger ie start mining or get a premium if AA want to keep, how would you play it??

Probably reading it wrong and welcome feedback, that’s how I’m interpreting things at the moment.

Looks good to me Howezap, after the sweet spot on current JORC. Break phase 2 in easily with a positive drill.

Should get 600m+ on that one, nice build to next Friday and then FOMO kicking in.

Nice photo, looks like they’re in the middle of a big clearing.

Based on aerial view:

https://www.rns-pdf.londonstockexchange.com/rns/7490Y_2-2021-5-14.pdf

Middle of the porphyry for sweet spot or Southern extension?

Steve - assuming history repeats itself (bit of a gamble on this share!) then we should see a RNS to confirm drilling commencing with drill plan - example Dec 16th 2020 for phase 1.

But we all know about assumptions….

CE, spot on as always, wishful thinking on my part, a little carried away after waiting all this time for news.

Extensions look big, but probably (almost certainly) not Carlsberg 2mt open pit big.

Definitely can’t keep RNS updates going like Jan with two drills spinning.

Start, no news is good news and end format works well for me.

Just interested to see a plan of locations and thought we’d get it before drills hit the ground, sure it’ll be coming soon.

Once it does, sure there will be a few from this BB (and AA) crunching numbers and working out if a 2mt open pit is possible.

Would be good to see the drill plan as well as confirmation of start. From recent RNS and interviews it sounds like we’re going after sweet spot in current JORC, testing SE and SW extensions and Footrot.

The implications of drilling each of these is pretty big, but won’t be able to judge the size without a guide to hole locations (and angles)

However, if we’re going cloak and dagger with open pit to try and circumnavigate AA, can see why you’d not want to share!

There’s also this article:

www.masterinvestor.co.uk/equities/johns-mining-journal-where-next-for-xtract-resources/amp/

But for full visibility, he also published this as loads on this BB took it as gospel:

www.masterinvestor.co.uk/equities/johns-mining-journal-xtract-resources-and-solgold/amp/

Should be more than 4p whatever way you cut it.

Can see why they’d want to extend IP to the south east:

https://www.rns-pdf.londonstockexchange.com/rns/7490Y_2-2021-5-14.pdf

They haven’t found the end of the south east extension and it looks to be near surface.

If the south east tappers off like it does in the north, there could be another 600m worth - none of this is included in current JORC or IP info.

The amount of news that should be dropping is huge - and that’s before the drills even starts spinning. Every day that passes, increases chance of news and I’d expect that to start reflecting in the share price.

Been a tough couple of months sitting on hands and not selling, then topping up low 3’s and thinking if I’ve made the right call.

Time will tell, who knows what’s in the ground - that’s half the ‘fun’!?! If it’s as big as IP suggests, 2MT is more than covered.

Fully loaded and waiting until Christmas. News will flow imminently.

Not seen any CB interviews across any companies for a while. Last Xtract one was the four way.

Reason I ask about AGM is BZT have there’s scheduled on release of results, so doubt it’s a Covid / staffing.

Final results are out, assay results for Bushranger phase 1 are out, Manica update given and plenty of cash in the bank. But still no AGM called. Any ideas why?

Part of me thinks there’s something brewing, makes no sense to delay?

Thank you 1Day, that’s the final piece of the puzzle, the strap on curse is broken, onwards and upwards we go.

Second you on the 3D modelling Steve, must be imminent. Hands up, I’ve given up trying to predict dates - get curveballs all the time with XTR, so it’s imminent / shortly and I’ll sit on shares until such a date.

Doubt we’d get to see the calcs on open pit mining they’ve been working on, someone shared a link with old calcs on from about 10yrs ago and it looked good then. You’d like to think that with all the extra weight that’s been gained since then, it would be even more feasible.

3D modelling, open pit calcs and phase 2 plan all at the same time would really set this off.