Member Info for Sq52

Certainly looking that way Jezzoo, think there will be a double release, more time that passes, the greater the chance.

It has been quiet.... apart from last nights under the radar interview. Started off on BZT and last two minutes (7:10 onwards) drifted to XTR. Well worth a listen:

https://www.share-talk.com/colin-bird-executive-chairman-bezant-resources-bzt-l-interview-2/#gs.yp0jfd

Listen to CB interview from last night, now 1.5 months of modelling as find is becoming bigger. Wouldn’t expect to see 3D until end of May / early June

If I was about to issue a TR1 due to timing, I’d be getting my hands on as many shares as possible.

It’s important not to live in an echo chamber and I’m posting this as there was a question on why this share isn’t flying, my thoughts:

Finding share in first place, you have to go through a lot of mining shares to find as the initial spike is history.

XRF substantially out for first hole, whats to say rest aren’t and team have got next holes wrong?

Cash raise and funding going forward, is this covered? Will I get stung and buy on spike?

Mozambique and ISIS issues with current mine.

Historical over run on projects and delayed results / timings / communication.

Copper super cycle hasn’t really started, will it or is it going back down??

Lack of TR1 and heavy major investors?

Ethical status of current mines?

Environmental status in Vulcan forest and wider open pit mining?

Legal status and implications of buy back and what that exactly means?

Did AA and a lot of other players really get this so wrong?!

I have my answers, a lot has been discussed already, you can see how the business is pushing forward with CB and team doing a cracking job. I’m happy with the risk/reward. This is now a major part of my portfolio.

Personally, I think this share is really going to start moving up in the coming weeks / months as assay results start flowing (hopefully Monday?), new modelling data is shared (June?) and the suspected delayed TR1 is published (should be soon?) all will be steps on the SP.

Andrew, have a check of GGP on share price and JORC timing.

Don’t need to wait for the JORC as most investors worked it out.

SP increase drives by assay results, TR1 investors, modelling, granting of mining licence and finally JORC.

Probably going a little too far, I do a lot of walking.

To get a bit of scale on what we’re looking at I walked roughly 1km x 1km x 1km x 1km - obviously couldn’t go 1km down, but as I live in a valley I did manage to get a couple of hundred meters of elevation.

It’s absolutely chuffin huge, would recommend it or getting a map out and drawing 1km square around your house.

Fair play to the Geo team in covering this distance in detail + Footrot + other locations in 3-4 weeks. Going to be one hell of a model.

Very worst case, Bushranger isn’t economically viable and tracks back down to 1.5p. I’d rate this as very unlikely and other projects off set this. As CB said and others on BB, the Xtract mines / projects should put the price we’re at already.

Worst case, this is a single porphyry and falls short of the 2mt, but is still viable. Plenty of buyers out there. I’d say this is now a low risk.

Good case, this is a single porphyry and just hits the 2mt. Based on all data that’s been coming out, I’d say we’re covered (assay results awaiting) and low risk.

Very good case, this is a multi porphyry and we smash 2mt. Good chance of this happening and every week the case is building. Good chance of this.

Excellent case - district and then it’s chose your number, could be huge (although low grade) but it’s all about size. Chance of this is getting better and IP is key to kicking this off.

Risk and reward seems very well balanced at this stage IMO. However, SP doesn’t really reflect the upside, so much resting on assay results and next couple of months.

Probably CE??

RNS says assays would be batched, so might not get any this week and holes 2+3 next week.

Now that would be some RNS update.

First part of the puzzle of why this isn’t taking off is assay results

600mt x 0% = £0

600mt x 0.33% = £magic number (personally think it’s beyond this)

Second part of the puzzle is that unless you’ve done a boat load of reading (like most people on the BB) then you’re going to want a pretty RNS with drawing and number written for you - and at that point, you’ll be paying a pretty penny for it!!

Hi Shorn,

Thank you for posting, I’ve not seen this before. It’s incredibly helpful and gives a great pattern to life cycle. Definitely working up the speculation to discovery peak.

I guess the expectation is Xtract time the buy out at the discovery peak with independent valuation and then AA pick up the capex to realise the overall value - everyone wins.

If we move past double and onto district situation, then I don’t see any harm in AA becoming more involved (properly negotiated and risks understood). Just depends on the scale of the monster as bumping along the speculation curve for years and years wouldn’t be great.

ATB sq52

I’ve been looking at the GGP timeline to try and gauge flow of information and time lines. Worth a note that they had JV support and many drills going at the same time.

They had a nice build over the past year and spike when positive data came out. I’d expect next spike for Extract in coming weeks from hole 2 assay and hole 6 / phase 1 completion.

I’d then estimate June / July to get a pretty good idea of phase 1 (with tonnage estimation) and outlook for phase 2.

Mining license September / October. Also phase 2 results dropping through these months.

JORC at the end of the year / early 2022 - it took GGP that long and they had multiple drills.

However, if we start talking multi porphyries or district potential, it could go way into 2022 and delay in JORC (for good reason).

There was also TR1s in GGP timelines as well and big uplift when they kicked in, but no idea when these will land for Xtract (potential for one this month / early next month after all the delayed out of hours buys Feb/March)

Obviously, not exactly the same situation, but gives an idea that it’s going to take months / if not year(s) to build. If it builds in a similar way / timeline (and hopefully higher SP), I’d be very happy.

Original budget was $2m and take a year. Recent raise was £5m. Would like to think it’s covered. But who knows.

Whilst looking for what a Porphyry core would look like, I came across a Geological Society discussion on: Porphyry-type ore deposits: origins, fertility indicators and exploration targeting

https://m.youtube.com/watch?v=e00bpUYNdko

It’s a well in-depth watch, but well worth it if you want bringing up to speed on what these bad boys look like.

1) The potential scale of these things.
2) I really like the molar tooth idea, pointy bits, tooth head and then deep down root - I suspect Xtract had a case of overcrowding!!
3) Visuals as they show different mines, veins, rocks and cut throughs etc
4) Every porphyry is different.
5) Cost of getting down and benefit of paying back project cost with early mineralisation.

However, didn’t really answer my core search. Any ideas anyone? Are we now also searching for a big lump of concentrated mineralisation?

Hats off to CB, he’s taking the time to understand what’s on investors minds and give clear directions with what he’s allowed. I for one massively appreciate this.

One thing that’s shouldn’t be overlooked is the speed Geo and tree cutting green light was given, the local area clearly wants this to succeed and put Bushranger district on the map.

Looking forward to seeing the beyond 2mt update (assay results up to hole 6 should do this??)

IP was in the project timeline / budget, just not for Racecourse as I guess it was felt at the time that it was understood - clearly not and that’s to Xtracts advantage, it’s way bigger / deeper than expected.

Wonder if they’ll carry on past April and IP the original targets as well whilst they’re there??

It’s fantastic news and adds more to the time line. April is going to be mega. But until CB changes the RNS from ‘towards the target of 2Mt of contained’ to beyond the 2mt, nor sure it’ll move the dial.

Should be big, but unless you know the locations and drill angles, it’s difficult to know how big.

On positive side, you’re not going to waste money drilling over old territory, so the longer it drills, the more it finds.

Yes, phew , I have been paying attention!

Looking forward to getting into the Brucey bonus that is Footrot.

Hi news,

Footrot falls in EL5574, I’m thinking it’s 2mt+ for Racecourse and bonus if others are economically viable.

If racecourse hits 2mt, it’ll substantially reduce needed capex for other finds in EL5574 and add to total tonnage.