Member Info for Sq52

Looks like the big stakeholders haven’t maintained levels, so the question is - who’s jumped in to snaffle the shares from the raise?

If we’re thinking big scale, let’s go protoplanet scale.

I’ll take 16 psyche - that’ll do nicely.

Hi Shorn, completely agree, with any market there will be a period on consolidation. This will come from M&As and could also come across supply chains - led by car manufacturers.

Car manufacturers are some of the biggest businesses / supply chains globally, they have to have copper (now legally in the U.K., pressures on!).

Assume current rate of circa $10k per tonne goes to $20k per tonne - largely driven by EV:

0.087 tonnes per car
$1740 copper per car
£1242 (exchange $1.4)

That’s about £600 per car extra vs current.
Most cars are bought on finance, say three years and write it all off to make it easy

£600 extra compared to current
36 months
£16.60 per month

Absolute no brainer, it’s going to happen. You could see this even higher??

XTR value is going up, even if nothing happens with Bushranger. Having said that, going to be an interesting 6 months as one way or the other, it’s proved.

Copper shortfall hasn’t started yet and prices are already picking up, businesses will pay what they have to pay - just look at container prices out of China at the moment.

There’s also some guidance on electric busses in this one + charge points:

https://www.copper.org/publications/pub_list/pdf/A6191-ElectricVehicles-Factsheet.pdf

Then there’s a load of other heavy copper users linked to green switch:

https://www.copper.org/environment/sustainable-energy/renewables/

Even if you factor in recycling copper from current vehicles ie ICE to EV (doesn’t factor in a lot of reports) there’s clearly a huge copper shortage coming down the tracks.

Was checking out CB’s other companies to see if Covid delayed EOY results and AGMs.

Looks like BZT results were delayed last year for three months and it wasn’t announced to markets until 30th of June (looks like it’ll happen again)

https://www.lse.co.uk/rns/BZT/re-resultstrading-update-and-agm-p5tk0r70zsz2wdc.html

Back to XTR, the African regions are getting hit really badly with third wave and delays in submitting accounts is done across the business, not just based on U.K., so delay easily justified.

Strongly suspect we will get a trading update and three month delay on the 30th of June. By the time we get into September and two drills are going, this price will be a distant memory.

Thank you all, even more to look forward to

Here’s what’s keeping me going (in rough order)

Bushranger licence renewal - June

End of Year accounts - June…?

African update - probably in EOY reports and/or over next 6 weeks

Annual General Meeting - July

IP Footrot - July

Assay results for holes 5+6 - July

Bushranger model and size potential - July

Approval of drilling - July

Phase 2 target sites - July

Start of phase 2 drilling - July / August

All dates subject to plus/minus 3 months and imminent changes

Details direct from Gov website

Details on filing accounts, must be submitted within 6 months from EOY

https://www.gov.uk/government/publications/life-of-a-company-annual-requirements/life-of-a-company-part-1-accounts

Automatic Covid extension has stopped (but can be applied for)

https://www.gov.uk/guidance/apply-for-more-time-to-file-your-companys-accounts

So whilst not automatic, extension could be applied for.

If extension has been requested and given the date of extension is fixed, would be good to get RNS out to set a date one way or another.

Hi Ella,

Yep, was using a mixture of that one and this one:

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

I assumed that anything outside of red JORC area would be new copper to add to tally.

Grade wise, who knows - I know what I’d like them to be, but expecting them to be in line with hole 2/3.

Don’t think the annual report will be particularly great, but will hopefully answer a few questions and set the scene for next 6-12 months and get the share going again.

Hole 5 is in new area, follows the same mineralisation and goes back into the belly of the beast. It could add a big new slug of copper (all be it low grade) to the target + I think it was the first hint of shallow mineralisation from what I remember.

RNS for hole 5?

Glad the strap on is still about, think you’ll need to wait another 6ish weeks for the final hole. Can you last that long??

First time that I’ve read / noted that Xtract aren’t talking about hitting 2mt, but exceeding:

‘drilling out an Inferred Mineral Resource in excess of 2 million tonnes of contained copper equivalent’

Also, even though it’s taken longer to IP, note the absence of Footrot, looks like we don’t need to drill that anymore to hit 2mt?

Delays have been caused by animal rescue being called in for support, CB clearly said they’ve found a BEAR at the bottom of a ole, he even spelled it out for us.

Given the upcoming and long term shortage in supply, this article has a spin I’d not really thought of - upstream investments. Not necessarily in Xtract, but across mining industry.

https://www.ft.com/content/beeb325f-1d39-456b-a4fc-22cd50429fbb

There’s plenty of examples of car industry buying into the rare metal miners, question is, will they start moving into copper?

If they do, these businesses will want solid supply from big mines located in good ethical jurisdictions and they have plenty of cash and long term plans to back it up.

One month into the extended geophysics, wonder what they’ve uncovered and what section they’re on now?

Seems a shame to pack the geophysics team up and send them on their way. Would be nice to have quick / initial scan on EL8306, following Native Dog Fault up and going about 1-2km to the right.

Wishful thinking, probably phase 3…?

Given the cash raise and issue of shares around the 10th of May, is it realistic to assume no assay results until after shares have been issued?

We could be into all drill phase one results at once by then.

Good read for what 2021 outlook and beyond could look like.

http://www.alignresearch.co.uk/wp-content/uploads/2020/10/Xtract_Resources_Initiation_Align_Oct_2020.pdf

Whilst I mainly came in for Bushranger, there’s clearly a lot more at play.

Apologies to all LTH, sure you’ve read it before.

Was a little surprised on timing as I’d hoped for assay results and slightly less dilution, but completely understand the need to book rigs and limited rig capacity.

Remember, they will have hand held XRF and have had a couple of weeks of intense IP results to plan.

Suspect the drill team conversation went on the lines of ‘show me the money’, 20k meters plus, we know you can’t afford us! Why would a drill team risk it if someone else has cash - needs to be bought or it’ll be way into 2022+

Also, agree with comments about serious investors coming on board and then crashing out on future placements (eg Jan). It’s all about future credibility and building the case. Only way to do it on a world class find.

And a final thought... were 1k+ length, hope to go 1.5k down (lose a couple of hundred getting there), now add a width of your choice + Footrot potential and try telling me it’s just going to clear 2mt (yes I know, wait for assay results)

And a final final, glad CB topped up today. Didn’t have to, but paints a clear picture in my mind of the way it’s going to go.

What a day and that’s before assay results, roll on Christmas (completion of phase 2 and JORC???)

We all know the market doesn’t like uncertainty and is reacting to pear and bear debate

Or.... tiny volume