Member Info for Steve4077

>> What was I wrong about exactly?

Maybe just refer to the answers given on the last few occasions you said exactly the same thing. If they didn't convince you then, I doubt repeating it will help.

Just sit on the sidelines and pop in occasionally with your 'poor grades' comments. If it turns out you are right and we are all wrong, you can gloat when the sale doesn't happen. Otherwise, you can slink quietly away, as I doubt you will be visiting to compliment everyone on their foresight.

>> What motivates me to post? Doesn't everyone enjoy the idea of being proven right?

Probably you should just post on every forum and say its a terrible stock and the price will go down. That way you maximize your chance of being 'right' and you can enjoy it even more.

The issue for CB (I think) is the Anglo agreement. XTR can only produce an updated JORC when they want to trigger the buy-out option, which happens very fast once triggered. As they are still defining Ascot and that definition should change the final sale price, they can't release an updated model yet.

Maybe they could release one that had contained total ore but not grade.

I think we have a new MM for XTR today. Singer Capital Markets Limited is listed as an MM on level 2 (the 8th for XTR) and I don't recall seeing them before. One small sign that interest may be increasing.

Happy to be corrected if someone else has been more observant than me.

The closing price of 5.2p was caused by a strange uncrossed trade of less than 12,000 shares. Official spread at the time was 5.3p to 5.5p so 'normal' close would be 5.4p. Actual spread was about 5.35 to 5.425.

>> I am thinking that a report of visible mineralisation on a hole by hole basis may make less sense if gold and molybdenum are making larger contributions to the overall grade of the core recovered?

You wouldn't see visible gold. Gold at 1g/t is one part per million whereas copper at 0.35% is 3500 parts per million.

Another 900k bought in the last 20m or so before close, all at around 5.29

I am trying to track down future warrants. There were 49m issued at 8.5p from the placing on April 19th 2021, but there don't seem to be any associated with the placing on January 21st 2021, apart from 5.5m broker warrants at 4.5p which are presumably long gone. There were also 24.8m options at 10p awarded to various directors on 24th February 2021 (10m of which are for Colin).

I assume the directors will benefit only from the profit beyond 10p (if they work like my own stock options) so there is an incentive to hold on to them if they believe the price is going up. However, I am not sure how the placing warrants work. Will that be profit past 8.5p or total value but cannot sell before 8.5p? The latter would mean immediate resistance around that level while the former would mean a longer-term but lesser drag on the price.

Also, is anyone aware of any other warrants or options?

NASDAQ finished 0.63% after being 4.8% down. Tomorrow is going to be very interesting.

I think best to hold off on announcements until the market steadies. AIM as a whole down 4.4%. FTSE 250 is down 3.5%. XTR volume is still only 2.6m, which is on the low side for recent days (last four trading days between 4m and 5m each).

Looks MMs are more nervous than XTR shareholders :)

The market is taking a battering today. AIM as whole is down 3%. Volume on XTR is only 1.2m (about 0.15% of shares in issue) so despite being down in line with the market there is no sell off.

I just had a quick look. Nice grades and length but it's in the Andes mountain range on the Argentine-Chile border in the midst of the driest region on Earth (Atacama), tens of miles from roads, power, water, etc. The grades are also a combination of copper, gold and silver (meaning complex extraction). Good luck with the infrastructure on that one!

Also, the de-ramps are getting a little desperate when they are based on alternative timelines :)

>> People can go on about the low sp but had we not had a queue jumping hole 35, the sp would today be well down into 4p.

Could you share your reasoning on how adding 300m at about 0.25% in the north, plus a hole that rules out an anomaly we hadn't previously drilled, plus a hole that is helping to define the edge of the far north of the deposit, none of which detracts from any of the previous holes, would suddenly devalue the company?

Actually, its more like 6-card Omaha with a 20-card straight draw and two flush draws. Only the people who don't really understand the game and are waiting for a made hand are sitting with money left in front of them.

If this is the flop and we have a possible straight and a possible flush, then all the money is going in :)

I wonder if CB hadn't seen the assays yesterday when he did the 'Negotiate in April' interviews. Given his conversation with Zak that might be the case. In which case, the 'stick a few holes in Ascot' strategy might have changed since yesterday.

>> Is there an RNS for assays on Hole 17

It was part of the RNS released this afternoon: "Drill hole BRDD-21-017 targeted an outlying IP anomaly to the north-east of the main Racecourse porphyry mineralisation, the hole returned some anomalous copper with selected 2m samples assaying up to 0.19% Cu, however this is not considered to be an immediate follow-up drill target at this stage."

>> Great RNS but what a strange time to release it!

We have had a lot of late morning or afternoon RNS from XTR and I haven't see any correlation between time of release and quality of news. Perhaps it is related to the time zones in which Colin or other XTR employees are based, or maybe he has just been distracted talking to AA :)

My amateur take on the RNS - I look forward to seeing an update from theiceberg. #35 is obviously very good news, especially with the gold and considering it is the first real hole into Ascot. Compare that with the first Racecourse holes. #18 is at the northern end of Racecourse with lengths and grade starting to fall off, although still economic, and is probably why Colin said yesterday in interviews that the northern extension was coming to an end. #22 is in the north but a little south of #18 and adds a really good width of economic mineralization, which adds to overall tonnage. #17 was targeting on an anomaly to the north-east of the main Racecourse, which looks like it is not worth pursuing. Good news in general and probably Colin wanted to have the lesser #17 and #18 in with the good #22 and great #35. Interesting that they must have prioritized #35 on the assays.