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Another possibility here is that the delay is deliberate, rather than unintended. CB said in his last interview that the market was the worst that he can remember. When he made the May prediction, he probably didn't expect the following few months to include a major war in Europe, a global fuel crisis, a global food crisis, more Chinese lockdowns, high inflation and a looming recession, not to mention a significant drop in commodity prices.
CB's unusual low-key approach in recent weeks may be intended to lower short-term expectations and take the company into a fairly dormant phase for a month or two so he doesn't have to conduct negotiations in this economic climate. If we have the assets in Australia and we have sufficient cash from Manica, that gives XTR the luxury of waiting until that climate improves, without worrying about either short-term share price or operational expenses.
>> no new news, nothing new to talk about etc....
We had excellent Manica results less than a week ago that pretty much de-risked the stock and secured our financial future. Maybe you could talk about that?
We had 32m at 0.92 g/t at Ascot a month ago, which completely changed the nature of our second porphyry. We are continuing to drill Ascot, putting more holes in RC and a couple into Footrot. Maybe that is worthy of conversation?
The Telegram board seems to find plenty to talk about, although that is maybe because it is so easy to post graphics and other material in chat. The dissatisfaction here seemed to be more about impatience than a lack of content.
There has been some very 'unusual' movement on the share price lately. There were more buys than sells last week and the price still went down. One down day had about 85% buys. Now there is pressure upwards but apparently no shares available. Although the latter could simply be an MM not paying attention - the former is deliberate.
As Buys outnumbered Sells by 3-1, it would seem the market (as usual) is doing the opposite of what you suggest. Although I guess at the moment, trolling here is the best you can do in terms of a distraction from VAST.
>> Colin needs to give us something in the way of news
There was a 15m interview one week ago. There was an RNS the week before that and both an interview and an RNS the week before that. Most companies are not giving RNS and interviews every week.
I don't think the quality of comms is great and we need a lot more clarity on Manica, but you can't really complain about the frequency of news. I'm surprised how many investors have no patience and assume catastrophe if there is no news for a week or two, or the share price dips on minimal volume.
Today BTW we are now on 1.9m volume with about 1.45m buys and 0.45m sells. Down 3%. Don't just look at the % change - check the trades or you will be misled.
It isn't a retrace. There is 1.6m volume now with 80% buys. That is exactly what you would want as a shareholder, but even Colin can't control the MMs moving the price in the opposite direction to the actual buying activity.
Lets look at facts rather than slogans then. Volume is 1.3m. That includes at least 900k in buys and less than 500k in sells. If you go on Telegram I have posted Level 2 to prove it. Somehow the spread has fallen from 4.8 - 4.9 to 4.4 - 4.7 and we are down almost 4%.
How would you describe that then?
Official Spread is 4.75 to 5.1, which is 7%. However, actual buys and sells are happening at 5.01 and 4.862, which is 3%. You definitely need a new trading platform if you are being quoted the full official spread.
I use II. I pay £20 month with 2 free trades and £4 for any other trades.
@Andrew4444
Yes, agree on Q1 being lower for alluvials due to the rainy season and also the likely CB update strategy. I wasn't trying to create a false impression - just showing that income is growing over time rather than steady.
The below is for 12 months but the production is gradually ramping up.
Q1: $144k
Q2: $218k
Q3: $785k
Q4: $1.38m
Also the hard rock only started in Q3 (from the smaller mines, not Fairbride) with 170oz in Q3 and 505oz in Q4. The rest is alluvials. Fairbride will be much larger than the smaller operations such as Guy Fawkes and Boa Esperanza.
All of the above are different parts of the overall Manica operations.
>> getting the impression it wasn't overly positive
Depends what you call positive. I get the impression that Racecourse is probably not 2mt (although given Colin is being so guarded I might be wrong) and there won't be an early sale, but the overall licence has much greater potential than originally believed.
I don't believe that CB was trying to spin bad news as good, because he definitely wasn't in sales mode. The fact he was so 'professional', as many have noted, suggests he is comfortable with the assets and comfortable with the financial position. It is now a case of patience while they complete the drilling and modelling. I for one am very happy to let them explore more before any sale.