Member Info for Steve4077

I just noticed I am no longer in that telegram group. Not sure if I accidently left somehow or was removed :)

Link would be appreciated so I can find out :)

I've long since given up trying to understand the relationship between GGP market cap and actual results :)

Please will everyone stop replying to trolls. Your attention is exactly what they want.

>> Without intending to bestow credibility on the lunatic with poor grammar from this morning, the close is looking disturbingly close to his prediction.

Even a blind squirrel finds a nut sometimes :)

I'm not on L2 at the moment, but the trades on LSE are a sea of blue :)

Either background sells that haven't been reported yet or blatant tree-shake. Also annoyed that I don't have spare funds. The only place where people complain about sales is the stock market :)

A socialist has just won the presidential election in Chile, which is the world's largest copper producer. Obviously he wants to raise taxes, so that has to be good for XTR.

https://www.telegraph.co.uk/world-news/2021/12/20/chiles-progressive-millennial-candidate-gabriel-boric-wins-presidency/

OK, my first filter on this board. Its not the de-ramping I mind - its the extremely low quality of the de-ramping :)

I think you mean 'You're all jokers'.

As this is continually brought up, often by people who apparently aren't reading the RNS or watching the interviews, I thought we should have a dedicated thread and discuss it. Here is what we know from recent RNS:

XTR 30th September RNS
"Upon reviewing those cash flow projections for the forthcoming twelve months, the Directors would not expect for funds to be raised through equity raisings, or require additional financial resources in the twelve-month period from the date of authorising the consolidated information to enable the Company to fund its current operations and to meet any future commitments in the event that the Company decides to continue with further exploration work including drilling campaigns in Australia and Zambia."

Empress 15th November RNS
"The mining contractor has been mobilized and preparations are underway for commencement of mining. MMP reports it expects to commence initial production in the first quarter of 2022. Empress has completed two site visits in 2021 through a third party engineering firm, and receive weekly updates from management on construction progress"

Colin Bird 10th December Interview (post-Ascot announcement)
"The treasury is adequate for we've got in store for us. "

However, having said all the above, if most investors are either not reading that or not believing it, then they can still have an expectation of a raise. Could it better to do a small raise, even if not required, just to get that blocker out of the way? Of course, that would severely damage credibility if we raise shortly after specifically saying we don't need one.

>> I’m almost tempted to say that I hope there will be a raise next year.

If there is a general feeling in the market that a raise is coming, despite statements to the contrary, it might be worth doing a small raise just to get that out of the way :)

However, after stating no raise in 30th September RNS and then again in the interview yesterday, it might cause a loss of confidence if there is a raise. Difficult to know which is best.

>> Looks like he will do another short term raise to get him through

The 'funding is needed' de-ramp is getting very tedious. Read the 30th September RNS and listen to the interview today.

RNS
"Upon reviewing those cash flow projections for the forthcoming twelve months, the Directors would not expect for funds to be raised through equity raisings, or require additional financial resources in the twelve-month period from the date of authorising the consolidated information to enable the Company to fund its current operations and to meet any future commitments in the event that the Company decides to continue with further exploration work including drilling campaigns in Australia and Zambia"

Interview
"Funding is adequate for everything we need to do"

I think the message was pretty clear that CB is in no rush to trigger the buy-back agreement. He wants to prove up a larger area first, which is good news for shareholders.

>> If anyone wants a real mind blowing comparison then look at Chalice mining.

Or GGP who went to £1.4b. It looks like we have more in-ground value and we own 100%, not 30%. I think the GGP rise though was sentiment-driven, but the same could happen with XTR (which would be £1.40 share price). Unlikely I agree :)

Understood - apologies for snippy reply :)

TBH I would be extremely disappointed with only double the current share price, even before today's RNS.

Yes, I agree that a raise mid-2022 would be reasonable, unless Africa income covers it - or we've been sold by then. I was just reacting to the useful "Funding is a problem" trope.

>> So never double today’s share price

Some indication of tense would be helpful. It's never been double or it will never will be double?

Although neither of those is true so I guess it doesn't really matter :)

>> Funding here maybe the problem

RNS from about 10 weeks ago:
https://www.lse.co.uk/rns/XTR/half-year-report-yei9me2c0gldybl.html

"Upon reviewing those cash flow projections for the forthcoming twelve months, the Directors would not expect for funds to be raised through equity raisings, or require additional financial resources in the twelve-month period from the date of authorising the consolidated information to enable the Company to fund its current operations and to meet any future commitments in the event that the Company decides to continue with further exploration work including drilling campaigns in Australia and Zambia."

I assumed Racecourse and Ascot would be considered together for the buyout, but a poster on telegram made me check :)

Anglo Buy-back option

"Under the terms the Bushranger Acquisition agreement, if a deposit of greater than 2 million tons of contained Cu equivalent (e.g. 450Mt @ 0.45% Cu equivalent) is ultimately identified, Anglo may buy-back 80% of the Racecourse deposit at fair market value as determined by an Independent Expert in accordance with the JORC and Valmin Code. Anglo and ProspectOre would then provide funding pro-rata to their interests, save that ProspectOre may decide not to provide its share of funding and be diluted, ultimately retaining a 0.75% net smelter royalty (NSR). If a "Decision to Mine" is taken by ProspectOre prior to the identification of 2 million tons of contained Cu equivalent, Anglo also have an opportunity to exercise the buy-back. Anglo have a once-only opportunity to exercise the 80% buy-back whether the opportunity comes through the discovery of 2 million tons of contained Cu equivalent or a decision to mine."

The above states 'Racecourse', not 'Bushranger'. So if the new anomaly is 'Ascot', does that exclude it from the agreement and was that the reason to separate it? Could we now declare a 1.9m JORC at Racecourse, leaving us open to a much larger sale to someone else once Ascot is added?

Of course, the RNS isn't the legal agreement - just a summary from XTR. I wonder how the original is worded,

Yes, I particularly like the two 700m intersections in opposite directions from the same pad :)

I just checked Level 2 for the first time in a few days and I noticed that Cantor (CFEP) are no longer a market maker for XTR. That is a little odd given how active they were in the past and how much they seem to push the Ask down on low volume.

There are still seven other MMs for XTR.