Member Info for Steve4077

Both my children were pub landlords before their 25th birthdays. Not sure what that says about my parenting skills :)

>> I'm new to investing in mining companies

Well, congrats. I think that is most comprehensive first post I've ever seen from someone who is new to mining companies :)

It looks like they are adjusting the diagrams as they gain more knowledge, which is exactly what they should be doing. Given the barely-contained excitement on the interviews and all the other evidence, I don't have any concerns about the total amount of copper.

As we don't have assays for either 12 or 14, it seems unlikely we have assays for 15.

>> With every hole that this explored it costs money. The wider the intersections the further they need to drill.

When the 30th September RNS came out, the extent of phase 2 drilling was already known, including potential exploration of the SE anomaly. Why would CB put in an RNS that further funding would be unlikely in the next 12 months unless he was confident that was the case? The BZT RNS for the same day said funding would be required and was followed by a placing a few weeks later.

Also, you should read the various RNS re the African assets, including the confirmatory ones from Empress Royalty.

Finally, CB has 14.5m shares and a lot of options, so the CEO himself will not want dilution.

I agree that dilution can never be ruled out, but XTR is a very low risk in that regard based on all the available evidence. If you need to try to de-ramp a little, you will need a different line of attack.

>> Only caveat here... is funding....

Not sure why this keeps coming up. 30th Sept RNS stated it was unlikely that additional money would be required in the subsequent 12 months. By then, the Africa assets should be producing income.

One of the best parts of the XTR story is the funding situation.

Maybe a tonnage estimate without assays (which is unusual) allows them to tell the market how large this is without triggering the AA buyout clause.

For once its not Cantor. All the MMs have held an Ask of 6p or more all day, except Peel Hunt which have pushed the Ask to 5.9, then 5.8 and now 5.7, just before close. On each occasion, the reduction followed a buy at a higher price than the new Ask. PEEL are trying to keep it down for some reason, but no other MM is prepared to drop below 6p.

Volume since 27th is about 58m shares traded, including today.

Excellent point :)

@Shorteverything

I was being sarcastic. Its been discussed on the forum every day since before October 27th. Everyone knows about the release of 50m ProspectOre shares and has taken their own decisions on that basis. You need to read the forum before assuming everyone is an idiot.

I'm surprised that no one mentioned that before today :)

I agree that everyone should do their own research and not take CEO comments at face value, although with Colin I think my only real criticism is over-promising and even that seems to be optimistic enthusiasm rather than an attempt to mislead.

With XTR though, I don't think the share price situation is as simple as potential investors not believing Colin. Its a complex story and most PIs (which will be the investor base at this point) are not prepared to spend the necessary time to understand it. This isn't a simple GGP-style "We have lots of gold" message. There are a lot of moving parts and any single RNS won't convince the vast majority of PIs, especially given most of them focus entirely on grade.

We need to find a way to get across the magnitude of the discovery in a way that even unsophisticated investors can understand. Suggestions on a postcard please :)

>> Clearly the market wants to wait a bit longer before jumping on the bandwagon

Its statements like this and the reference to assays that undermine any claim to be objective. Volume today was 14.5m and the headline share price increase was 13.5%. In reality it was more like 18-20% because the closing price yesterday was artificially high due to a 20k UT. The market is starting to wake up. Just look at the twitter posts today from people with thousands of followers.

>> drilling results on their own are not managing to support the sp and therefore we need to see more assay results

When you drill a completely new area with a much larger IP anomaly than Bushranger to see if that IP anomaly was useless pyrite or a new porphyry, then hitting the porphyry-style alteration is the news. The assay for that drill might be 0.15% or less, but that is irrelevant to the importance of the hole. Any downside risk disappeared today and that is why the market reacted as it did.

Maybe you are just naturally a huge pessimist and not a de-ramper, but in that case you need to realise that a lot of people are getting very excited about the situation and they aren't ramping. Ramping is pushing a stock with no basis for the optimism. Instead, this board is generally very evidence-based. The reason for the excitement is that Bushranger is steadily building a huge amount of evidence to suggest that is a very significant discovery. If you really are invested and not just trolling, then maybe you should start to enjoy what is happening here.

Just don't engage Lucky520. If he thinks todays RNS is not good enough to justify a $50m market cap, then one of the following options must apply:
1) Trolling/de-ramping
2) Complete lack of understanding of what is unfolding

In either case, what is the point of getting into a discussion?

So you invested in an exploration company thinking it was a mine, you invested without caring if it went up or down, you don't understand how you can benefit from your investment and you think March 2021 was over a year ago. I think overuse of Caps Lock is way down on your problems list.

>> No - I can assure you that it was about 6.5p - anyway timelines aren't important - how is money actually gained from this? -

This is probably a stupid question, but why did you invest in something if you don't understand how it would generate money?

>> Did I hear correctly - This is a $700,000,000 system?

I thought he meant $700m to develop the open pit before considering the SE anomaly, but I would be happy to be wrong :)

>> they have missed the target with first exploratory drill

They haven't 'missed the target'. The drill was to check if the IP signature was pyrite or porphyry-style alteration. Finding the location of the porphyry (or porphyries) will require a few drills, but the associated mineralisation is present, which is huge news and the reason for the price movement today. Also bear in mind the close last night should have been 4.9, not 5.2, so it is even better than it seems.

And don't forget hole 24. That just added a lot to the original open pit model.

You mean BHP agree with AA to void the agreement (bribe them) and then buy XTR, or at least Bushranger?

Given that the buyout agreement seems to be all about AA benefiting from any future discoveries, then the above seems possible - the only real issue would be the size of the 'bribe' and how that affected the purchase price.

news - its time to give it a rest.

This whole board, with one or two exceptions, clearly appreciates the contribution of theiceberg, as evidenced by the number of recommends you often see on his posts. He has also been entirely consistent in his views, despite your efforts to muddy the waters by posting brief excerpts completely out of context.

His recent 'valuations' were attempts to follow the methodology of the valmin code , which is mentioned in the RNS from XTR, including the 2020 RNS that explains the buy-back. This is not an opinion by theiceberg - but an attempt to demonstrate the numbers that would be produced by that methodology, given the constraints of XTR current business model. He has been very clear that is NOT the likely sale price - just one component that will be considered and therefore one the board should understand.

That in no way contradicts his previous, positive statements about the company and its potential and he clearly wants XTR to achieve the best possible value for its assets. He is trying to educate the board on valmin and unfortunately people, including myself, initially misinterpreted what he was trying to convey.

Your constant sniping at theiceberg, especially taking quotes out of context, and your refusal or inability to understand his point - even if you don't agree with it - is only damaging yourself.

@theiceberg You may have done this already, but just stop responding to his provocations.