Member Info for Steve4077

>> AA are gonna want their competitors to pay as much as possible imo..... so I cant see them just giving us a straight pass..... even if they have no intention of actually buying.

The agreement doesn't really allow them to do that. Once the 2mt JORC or a decision to mine is announced, AA only have a few days to trigger the buy-back option or they lose that option. They can't delay the decision.

I've wondered for a while if AA passing might be the best option. It opens up the potential for a bidding war among other majors. Newcrest for example would be interested due to their existing presence in the area.

Galileo announced a deal this morning that nets them a few million for the sale of non-core assets. It's looks fairly complex so the reason for the recent lack of RNS for XTR might be as simple as CB being tied up with the GLR negotiations.

Someone mentioned earlier about asitis on the other XTR forum and his attempts to mislead. Today, we have the best yet. He pulled a quote from the 1st June 2020 RNS, which (as he posted) read:

"Under the terms the Bushranger Acquisition agreement, if a deposit of greater than 2 million tons of contained Cu equivalent (i.e. 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."

He then stated that as the quote used i.e. (that is) rather than e.g. (for example), that meant AA expected 0.45%.

I checked the original and it does use e.g., so asitis changed the quote and then tried to use that incorrect version to justify his latest attack. You couldn't make it up :)

https://www.lse.co.uk/rns/XTR/bushranger-copper-gold-project-australia-o7u71uhdwbdy9b9.html

It looks like all those companies are all listed on TSX, so its a Canada-focused list.

>> Also I noted in andmillsy’s report that those copper explorers with 2mT were only valued around $50m on average

Are we reading the same report? Oroco Resource Corp with 2.3m is $397m market cap, Polymet mining with 2.8m is $309m, Trilogy metals with 1.8m is $273m, etc. There are also some of the lower end with Deep South resources on 2.4m tons and only $8m market cap. It looks a very wide range of values, so obviously there is no direct correlation between contained resources and market cap.

It will depend on a lot of other factors, such as cost of extraction, infrastructure requirements, quality of jurisdiction, etc. and Bushranger is very well placed for all those factors.

>> Hi Theiceberg, why aren't we expecting much copper in drill hole 14?

"Hole BRDD-21-014, sited to test a new IP geophysical target to the southeast of the Racecourse Indicated Mineral Resource, intersected a wide alteration zone with pyrrhotite/pyrite mineralisation and associated copper sulphides"

It sounds like 14 grazed the edge of the SE anomaly. Its a hole that says something is nearby, not a hole that went through good mineralisation.

>> Great idea Steve but to be registered on the next voting poll I need to ask you to define the probability...

About the same probability that Colin will provide an accurate date estimate :)

I wonder if an RNS saying we can have di-lithium and XTR plans to build a warp drive would move the share price? :)

>> it’s clear this is little more than meaningless for anyone other than those following the story very closely here.

I agree, but that is why we will multi-bag when everyone else finally wakes up :) If it was obvious, it would be a lot more expensive. I have a chunk of money coming in March, but it is probably too much to hope that the current situation lasts that long.

I'm no geologist, but as theiceberg mentioned siliceous alteration (hole 29) is more associated with molybdenum. That is a little higher value than copper but usually in lower concentrations.

However the hole did intersect 'pyrrhotite-pyrite mineralisation with associated chalcopyrite', as well which could indicate a nearby copper porphyry. That is probably why they made the statement that "We suspect that the southeastern extension is veering more towards the south-southwest and we will test out this assumption with subsequent holes."

Whichever way you look at it though, there is something in the area and that can only be good news given its about a kilometre away from hole #1 which was drilled in the opposite direction.

>> Interesting what Buffet says re diversification. Looking at Berkshire Hathaway portfolio he seems fairly well diversified :)

Yes, on other videos he said that given the amount of money involved, it is almost impossible for Berkshire Hathaway to focus on a small number of companies. With smaller amounts of money involved, you should focus on a very limited number of investments - he mentioned 2-3 - very good investments. Why would you put money into your 10th best idea for example.

>> I do not doubt we own Kalengwa but where is the development, what are we getting for our money for example ?

Sorry to be blunt but forget Kalengwa. Whether that happens or not is most likely irrelevant to the future share price. We should be spending on Bushranger and Eureka at the moment.

>> I wonder if mr buffet would scoff at the idea of going in with 100% in an exploration miner on the AIM index in probably one of the most volatile sectors?

I watched a few other videos. In summary he says that when you have a smaller amount to invest (less than $1m), look at small-cap companies in an industry sector you understand really well that have high upside and minimal downside. So I think he might be OK with you :)

I'll see if can find the relevant video.

Watch from the start.

>> Sound investment strategy went out the window a long time ago. But, as I am reassured by my own research I do believe in my current strategy to create meaningful wealth.

I've never been a believer in diversification, but here is a video from someone with a little more knowledge than me (Warren Buffet) who is not a fan either. According to him, what you are doing (and me) is fine.
https://www.youtube.com/watch?v=ZDpuhEv8D5M&t=167s

>> Look at what % of shares have actually been traded in the last few days.

I decided to answer my own question. Since Nov 15th, when the share price closed at 5.95, we have had 12 trading days. Over that time the total trading volume has been 28m. There are 845m shares in issue, so the total amount of shares traded during the fall from 5.95p to 4.8p, including buys and sells, was 3.3% of the total available.

Lets assume a 60-40 ratio of sells to buys, which looking at the individual trades seems overly pessimistic, that means only 2% (1 in 50) of shares were sold. I refer back to my original comment about MMs playing games :)

@eastern_investor

A few things to consider. First you need to look at volume. If the share price is dropping on minimal volume then it is usually the MMs playing games. If the price doesn't move up and down, no one trades and they don't make any money, plus they need shares for when the price does start to move up. Look at what % of shares have actually been traded in the last few days.

Second, you need to consider who might be selling. 50m prospect ore shares issued at 1.25p became available to sell just over a month ago. Those people are 4-bagging when they sell, so it is understandable that some might sell now, especially if they aren't following the company news. Then there are usual AIM investors, bored after a few days and running toward the latest shiny thing.

If you have done your own research and have confidence in that knowledge, then you are better off than 90% of AIM investors. In that case, it is much more likely that people less informed than you are selling rather than people in possession of some secret knowledge that you lack.

>> I am a bit nervous about the current slide

Why are you nervous. Are you concerned that your own research is missing something?

The RNS on October 7th 2020 was in response to the same story published by the 'Zambia Watchdog' on October 5th 2020.

I can find zero coverage of this supposed story in any reputable publication or even any western media. I also suspect that the FCA would get involved if any of it was remotely true.

Its plain you have a personal grudge against CB, but seem to be struggling to find anything of substance to back it up. Please take your desperate trolling somewhere else.