Member Info for Steve4077

>> 1 to 2% of transaction value for all ‘Eligible Participants’. Hmmmm. How many ‘Eligible Participants” could we be talking about here?

Its 1 to 2% for all of them combined.

"in the range 1% to 2% of the Transaction value and be allocated amongst the Eligible Participants"

AGM Completed. All resolutions passed.

https://www.lse.co.uk/rns/XTR/result-of-agm-gb3yq50wwo66oul.html

Monty, we are up over 40% in the last month. The share price will have days where it drops back a little or consolidates for a while before moving up again.

>> like Frodo and the ring!

So if XTR is Frodo, does that mean that Anglo-American is Gollum? (and Colin is a less hirsute Gandalf)

Yes, they should declare a 1.9m ton interim JORC and continue exploring :)

Until we declare a decision to mine or a JORC of 2m tons, AA can't do anything.

>> But we should be clear that its purely speculative

Yes. I agree. Lets state what is known, what is assumed (copper price, % in-ground value, etc.) and what is speculation. I personally think we may end up with a lot more than 2m tons if the SE anomaly really is larger than Racecourse, but you get a great investment case here based purely on the initial 2mt target.

I think that is realistic. CB has indicated though that he wants to sell the whole licence, not 80%, so that extra 20% will either be sold to AA or a third party, most likely the former.

Yes, there seems to be a little ramping going on. This is not a share that needs to be ramped and doing so will only put people off.

Sticking to the facts is all we need to do to tell a great story about the potential future for XTR.

>> Flat 2mt has got to be £600 million minimum to us at 3% and 10k copper at those prices. 4mt 1.2 bill.

Copper is priced in USD and share price / market cap is in GBP, do you need to convert in the calculation. $600m is currently £435m. Also you can't current copper price. As someone pointed out a few days ago, the deal will be done on estimated long-term price and that will generally be conservative, which is why I used $8k.

However, we can be very conservative and still end up with a very good future share price.

2m tons at $1 is $2m
2m tons at $10 is $20m
2m tons at $100 is $200m
2m tons at $1000 is $2,000m or $2b
2m tons at $10,000 is $20b

>> Amazes me the lack of basic research people do

Yes, but the general lack of research is why investing can be so profitable for those who actually understand their investments :)

If everyone was prepared to invest time in research, it would be really hard to find bargains.

>> So personally I would be disappointed at anything below 30p and I think it might even get to double that if everything lines up nicely.

BTW 60p is still less than half the market cap than GGP reached and it looks we have considerably more in-ground value.

>> What is a mine worth with 2mts of copper @ these grades.... Not the best but lots of it... and a porphyry on its side

To estimate, we need to have some assumptions. Lets assume we reach the 2mt of contained copper and lets also assign a price of $8k per ton (conservative as currently 10k+). The buyback agreement specifies an independent expert for valuation, so we need to assign a value to the in-ground copper. 3% seems to be the consensus on here, although given this will be open pit, in Australia and close to existing infrastructure such as railways and power, that is probably conservative too. Finally, lets assume the 845m shares grow to 1b due to options, warrants, etc.

Those numbers give us an in-ground number of $480m or £350m, which is 35p per share.
That excludes the Africa assets, which probably justify the current market cap on their own. (69m at 0.88% in Kalengwa, 27m at 4.6% in Eureka, etc., cash-generating alluvial operations in Mozambique))
That also excludes anything beyond 2m tons (and that is starting to look a conservative number)
That also assumes $8k copper price, which also looks very conservative.

So personally I would be disappointed at anything below 30p and I think it might even get to double that if everything lines up nicely.

>> Will XTR be mining open pit or will it be sold.

It will be sold and then it will be open pit. CB has made it clear he intends to sell.

Hitting 2mts (officially) will be the trigger point, although I suspect we are already close to that in reality. There are benefits to holding back on a JORC until more drilling is complete.

Cantor jumped to top of Ask at 6p, then moved down to 5.9p. Another MM is at 6p. The rest are at 6.1 and 6.2, with an outlier at 6.5p

Probably best just to ignore the trolls. Replying is what keeps them posting. I've only been here a day and already Kwadoku and smiller are green boxes :)

>> Whilst the assays today were great, my concern is that they still haven't been able to draw the truck to scale. C'mon guys, how long does it take?

Maybe they just want the truck to be visible :)

>> So results from three drill holes have been reasonable

A little more than reasonable. The length of intercept today was about fifty percent higher than the Shard in London and it is all economic grades. The strike length of this deposit is about ten Shards lying down in a row. And that is before we drill the LARGER anomaly to the south-east.

After several buys in the 5.7+s, Cantor just jumped to top of ask at 5.7 and then Peel Hunt jumped above that to 5.6. Probably selling into news happening in the background. Will resume upwards once that short-term insanity is sorted out. I wonder if people actually read the RNS before selling :)