Member Info for Steve4077

Yes, I noticed that. However, I'm not sure if that was a slightly misleading way to refer to the 'option to buy' or an inadvertent reveal that unofficial negotiations are already taking place. Its probably the former, but we know that there are social contacts between the ProspectOre team and people at AA, so I wonder what they chat about :)

Also, I doubt Colin would be so definitive about starting negotiations with AA in April if he had any doubts about getting there.

He also quoted 500-700m tons for Racecourse in latest interview, when in a previous interview he mentioned 400-600m. That doesn't include Ascot, so I don't have any doubt at this point we will hit 2mt on the licence. The economics is probably more important going forward. Its also worth bearing in mind that he can't publicly say that we will definitely hit 2mt, because that is price sensitive and will need to be included in an RNS, so he keeps skirting around it without saying it but giving very large hints.

One thing I picked up today from the midweek takeaway interview was what Colin meant by 'decision to mine'. In the past I thought it was a plan B option to trigger the AA buyout clause in case we didn't reach 2mt (and would be irrelevant if we did hit 2mt).

However, now I realise that 'decision to mine' is actually a 'create a viable economic plan for a mine', which would be an update of the original open pit study. If we put forward that plan as well as the 2mt JORC, that is a much better situation than just the 2mt trigger alone.

I just checked. Ignoring price monitoring extensions, XTR had 91 RNS in 2021 (so actually close to 2 per week on average). GGP had 60. Even 60 is a lot compared to most companies.

I'm probably going to get flak for this, but I do find it a little frustrating to read almost constant complaining on the forum if we haven't had an RNS for a couple of weeks. Last year we averaged more than one RNS per week, which is a huge amount compared to any normal AIM company.

Colin is always over-optimistic on timelines. We all know that, as its mentioned almost every day. He is on the downslope of his 8th decade so I seriously doubt he is suddenly going to think "Hmm, the LSE forum say I am over-optimistic. I wish someone had mentioned that before. I must immediately change my personality"

When he gives a date why not consider that, based on every previous occasion, that the stated date is going to be the most optimistic view and set your own expectations accordingly. Otherwise, you are just causing yourself endless frustration and shouting at the rain. He is going to release an RNS based on business or informing the market based on the rules quoted before. It won't happen any faster because people are complaining on a forum.

The copper discovered so far isn't going to disappear, regardless of the remaining drill results, and we just started drilling a second major porphyry. Every interview and RNS so far have been positive, including the most recent. If you can't have patience under those circumstances and place a little trust in the team that got us this far, then just sell and move on to a stock that releases two RNS every week.

/rant

CB stated in the last interview that no raise was needed. Given that was only a couple of weeks ago, I assume he made that statement with knowledge of the situation at Manica and the other Africa assets. I assume we will need a raise eventually if we don't get increased income from Africa, but it doesn't sound like a short-term requirement.

Ah yes - I remember when he replied using the wrong account and outed himself :)

There haven't been any meaningful RNS releases for any of Colin's companies (XTR, BZT, GLR, AFP) in 2022. Maybe he is simply on holiday for a couple of weeks.

Just to reinforce Steve's point. Ultimately, the value of a mine is the sale value of the metal minus the total cost required to extract, process and transport the ore and minus the tax levied by the jurisdiction. Higher grade or larger amounts are no use if you need to mine underground, halfway up a mountain in a desert (the Atacama in Chile is the driest desert in the world), and then build transport and power links tens of miles across that terrain and then pay high tax rates on the potential profit. In contrast, Bushranger is an low-extraction-cost open pit, with major transport links and power already very close by and near a major port.

The situation in Chile in terms of jurisdiction is also problematic, given the recent election of a far-left president with mining companies in his sights, compared to the very friendly environment of Australia.

There are many large deposits in the Andes region that are undeveloped because of the economics and other associated risks.

I don't think anyone can complain about the actual speed on the ground for XTR. They have accomplished a huge amount in just over a year. The main issue, as stated below, is unnecessary expectation setting. On the other hand, I do get the impression those expectations are set due to over-optimism or over-enthusiasm from Colin rather than a pre-meditated attempt to mislead shareholders.

On that basis, I generally give XTR the benefit of the doubt and I am happy to await developments regardless of stated timescales. I can understand the frustrations of other people on the board though.

After close today, two large buys trades showed up for yesterday - 680k at 5.8p at 11.45am and and 500k at 5.68p at 14.20pm.

Currently down 4.3% on 247k shares traded (about 0.03% of shares in issue), of which sells comprise 23k shares. :)

Could be a background seller, or perhaps another intra-day tree-shake.

No problem. I think 14 probably didn't hit anything except alteration, but 17 and 18 look interesting based on the hole completion RNS. A lot of assays are probably delayed at this time of year, which then creates a backlog.

Assays for 13 were reported on October 29th
https://www.lse.co.uk/rns/XTR/bushranger-project-further-assay-results-fsfbd5i50iute35.html

Assays for 16 were on November 19th
https://www.lse.co.uk/rns/XTR/bushranger-assay-results-and-drilling-update-w11pre99kmdgcce.html

@AA I suggest reading all the RNS from December 2020 onwards and read back through this forum for the last month or two. It's also worth watching the last few XTR interviews on v o x m a r k e t s and on the Sunday Roast.

That should give you all the information you need.

We've been doing some rapid investigation on telegram forum. Thanks mainly to Andy Mills. Low salary at 24k, only holds 40k shares and seems to be holdover from oil exploration days. He recently was appointed as director of another company, which is his first new job in 10 years. No market reaction at all.

No-Executive Director Peter Moir has resigned.

Peter’s qualifications include B.Sc. Civil Engineering and M.Eng. Petroleum Engineering. He is a Chartered Engineer in the UK and has more than 30 years experience in technical, operational and commercial aspects of the Exploration and Production business. (from XTR website)

Every time someone replies to the troll you dilute the quality of the message board and make us look worse in the eyes of any potential new investor looking for information, plus you give him attention, which is exactly what the troll wants. Notice how he replies more when he gets attention. I know everyone wants to highlight he is an idiot, but that is obvious anyway.

Please filter and ignore.

Here is the most up to date drill plan with the holes and phases marked.
https://www.rns-pdf.londonstockexchange.com/rns/0791W_1-2021-12-17.pdf