Member Info for Steve4077

Also worth checking VulcanBob's posting history. Either he is yet another Pops1980 account, or someone with a very similar attitude in regard to CB.

In a shock development, Cantor is holding the Ask at 4.8p while the other seven MMs are at 5p or above :)

@fulmar29 I'm not sure what your stalker-fascination is with Colin Bird. I'm not invested in XTR because CB is the Chairman. I'm invested because the published facts via RNS are extremely compelling. Colin can be over-enthusiastic and regularly over-promises on dates. The situation with some delayed assays on BZT was also not ideal.

However, all of that is already factored in for me. I like Colin as a person and he has a track record in delivering value in exactly this situation with Kiwara. I was also invested in ARCM for some of last year and sold up.

If you have something to say and actual facts to back it up, then lay out your arguments. Otherwise, you remain just an obvious troll.

>> It's been said before but I love how grown up and informative 99% of this board is.

The intelligent, reasonable debate on here with minimal tolerance for outright ramping/de-ramping or anti-social posts gives a good indication of the type of people investing in XTR. In turn, that gives me extra confidence in my investment here, knowing the quality of people that have done their own research and reached a similar conclusion.

>> I understand your point but cannot help but ponder on the fact that so much pay dirt will need processing for so little copper.

If you watch the 30m video on modelling, that will help. The pit is borderline economic without any of the phase 1 or phase 2 drilling - just based on the old ProspectOre drilling with a much lower ore content. Every drill that intersects is adding copper to rock that had to be dug up anyway. Returns are going up far more than costs.

Cantor is holding the Ask at 5.3. Everyone else is at 5.5 or above. How unusual :)

According to the modeling, 0.15% is economic. Besides, I hope someone with 3000+ posts would know that direct comparison of grade makes no sense. It depends on the cost of sale minus cost of extraction. Bushranger is open pit, which means much lower operational costs, and is both huge and close to existing infrastructure, which means much lower capital cost relative to overall costs. Which in summary, means economic grade is low. Even if you assume 0.2% needed, then every drill is hitting that.

How many times are you going to come on here and post the same funding scare story? Read the 30th June and 30th September RNS re funding, as explained the last three times you posted this. We should have sufficient funds until mid 2022 and by then the Africa assets should be producing income.

Also, if you really don't think there will be 2mt then I suggest you read all the RNS again from last 2-3 months, look at the modelling and listen to all the interviews.

If you want to raise concerns then at least find something more credible to worry about than funding.

"A relatively broad zone of elevated gold was also intersected at depth, including a 40m downhole interval which graded 0.23g/t Au and included 8m at 0.66 g/t Au from 628m downhole. This zone occurs on the eastern side of the Central Racecourse mineralised porphyry body and has not been significantly drill tested to date. The area is proximal to an induced polarisation resistivity low anomaly and could signify that a second mineralised porphyry body is close by at depth"

The above section is particularly interesting. Not only another porphyry further south (the SE anomaly), but potentially a deeper gold-rich system lying partly under Racecourse. Follow-up drilling will be interesting.

>> Hmm far below my expectation. From Colin's presentation, I was hoping at least .5-.8% grade.

I think the problem may lie with your expectations rather than the drilling :)

None of the past assays have even been close to 0.8% and they don't need to be. 0.15% is economic and past assays have generally been between 0.2% and 0.5%.

Interesting that the completion of 26 and 27 is announced in the RNS, but 31 and 32 are 'in-progress'.

28, 29 and 30 all seem to be completed with lengths of 648m, 552m and 487m respectively, so we should be getting an update on those next week. I think we are also missing assays for holes 12 and 15.

>> I can only hope (and think) that the market, like here, has not caught up with the potential in that company??

As I mentioned below, I think there is a difference between a company planning to mine and a company planning to sell. How would your own view of XTR change if Colin said we were going to build a mine, rather than look for a major to buy us?

That is a useful comparison, especially given we should have higher overall grades and maybe more tonnage once the SE anomaly is drilled. Also, I wonder to what extent the share price is affected by Caravel planning to mine, vs XTR planning to sell. The latter would generate a much more immediate return for investors.

>> Does anyone have a price expectancy from this company they are prepared to share

I think general consensus on the board is about 20p for the low-end but perhaps as high as 40p depending on drilling results. It may take a while to achieve that though so decide how much to invest and then ignore the share price ramblings over the next few months.

The company has been around since 2005. In 2006 the share price reached £20.75. In the last five years though the highest weekly close was 7.3p.

>> Average is 0.1642 106674 shares owned.

If you assume you can currently buy at 5.8p, you would need about five million more shares to get to 6p average. If the ask drops to 5.5p, you would need about 2.2 million.

I think a better approach would be to ignore your existing shares, do some research on the company as it is now and then decide whether to invest (and how much) based on the current situation alone. Treat this as a separate investment and don't worry about the average.

>> anyone know of a good average down calculator? Need to know how many shares I need to buy to get to these levels from an average of 17p grrr

You can't average down to the current price even if you bought an infinite amount of shares,

However, to calculate the new average for a set amount of new shares, you can use any calculator or even do it in your head. Multiply current shares by current average price to get current share value. Multiply new shares by new purchase price to get new share value. Add current share value to new share value, then divide by total number of shares to calculate the new average share price.

BTW you must have held these for over five years.

As the board is quiet...

I spent most of Sunday playing Valheim with my daughter, her partner and my grandson (https://store.steampowered.com/app/892970/Valheim/). The main objective of the gameplay on Sunday was locating and mining copper deposits in the Black Forest, although unlike Bushranger we kept having to fight off dwarves and skeletons. I guess that would make for an interesting interview at least.

"Well Zak, we found this copper deposit in the Black Forest. Just lying on the surface waiting to be mined. Very low capital cost as well - just a few pickaxes and a cart for transportation. And you know the demand for copper is rising. With all these dwarf attacks, people are going to need copper for bronze armour and swords and battleaxes and we have it right here. It's exciting Zak, very exciting. Yes, I know skeletons can be a problem and then there are the trolls - they are huge Zak, really huge - but where else are you going to find copper except the Black Forest? Now we just need to wait for the assays, because you can end up with a lot of rocks instead of copper, but even they are useful Zak when it comes to building fortifications. Anyway, thanks for giving me the opportunity Zak and we will speak again soon, assuming we don't get attacked mid-ocean by a sea serpent."

CB is tax resident in Dubai (no income or capital gains tax), but the requirement for tax residency is one visit every six months. I think he lives in Portugal.

Its Africa - everything always takes longer. I know that sounds like an unfair generalization, but setting dates and missing them is a regular occurrence for a lot of mining companies operating in Africa. Look at Bushranger for comparison. Same parent company but moving much faster.

To be fair, it actually sounds like decent progress at Manica.