Member Info for Steve4077

I must admit to a little surprise at the sells because of the placing. I've sold myself before on a drop when the news was bad, but the news is that the company just raised a million pounds (20% of market cap) for a drilling and exploration campaign. I know it is frustrating if you have a higher average, but this is a good time to invest, not sell.

At the 'Evening with Colin Bird' last week, he was asked by someone who said if he had 10k to invest which of his companies would he choose. At first he said all companies were good investments, but when pressed he said BZT. Full Disclosure - I am heavily into XTR, another CB company, but I have been watching BZT for a while and looking for the right time to buy-in, which turned out to be today.

There were two trades of 72,307,700 within 40 seconds at about 10.35, although the price was marginally different at 0.13 and 0.13005. The fact they were identical amounts with slightly different prices suggests moving money between accounts rather than sells. The same thing happened again at 13.46 with two trades of 20,769,200 at marginally different prices.

>> Hope I'm not going to be cancelled for asking this

Don't worry :) The person who was quickly banned is a known abusive poster. You probably get a better reception here for raising reasonable concerns on here than almost all of the other boards on LSE.

>> Straw was seeing those two huge late notifications just posted.

I think that was a positive, not a negative. 150m sell went through at 10.35 and the bid is now higher. That should tell you the shares are in demand.

Yes, good point.

I'm here because of the potential, but invested today because of the placing. CB said in the 30th September update that funding would be needed, so I was waiting for that to happen.

Yes, that is why I am here this morning. Placings are necessary to fund exploration, so annoying short-term but can't really move forward without them.

There used to be a poster on here called Pops1980 who consistently posted anti-CB rants on every CB share. He gets banned regularly and then creates new accounts to continue the same rants. I am thinking of getting back into BZT so I read through the forum to catch up. Who is the current incarnations of Pops? It is probably Kwadoku, but it might be Lawrence1980 given the same suffix. Maybe even both. Anyone know?

>> I was alluding to the time frames in proving up to a saleable asset taking CB age into consideration.

Yes, completely agree. I have been invested in SOLG, but I sold up about a year ago - around the time than Nick Mather was asked to step down. I thought the company had great assets but it was hard to see a route to monetization in any realistic time frame.

>> CB won't do a S O L G O L D here I don't think, greed isn't good sometimes.

Very different situation to SOLG:
Australia vs Ecuador
Nearby infrastructure vs no infrastructure
Focus on one area vs many different areas throughout country
Market cap 40m vs 600m
100% owned by XTR vs Political Mess with BHP, Newcrest and Cornerstone.
Obvious route to monetization of asset vs PFS/Funding quagmire.
Excellent LSE Board vs Children's Playground :)

>> A 5.5p close was a bit of a surprise - must be something going through after hours?

It was an uncrossed trade of 6.5k shares. Mid-price was 5.4, which is still good.

In summary, long runs of mineralisation with both holes further extending the resource beyond the current JORC,

Did someone mention that CB said he had been warned about too many RNS for XTR? That might be the simplest explanation.

Of course, we have had 12 RNS in the last 5 weeks and its only four business days since the last one. I think we might be a little over-impatient :)

>> I was hoping to take up oil wrestling with Danni Menzies

Am I showing my age by not knowing who that is, but wondering if she was related to John?

>> Sounds like you need a past time mate.

I've always wanted to visit Troy, or maybe Constantinople when they were building the Hagia Sophia, or perhaps Rome during the reign of Trajan

Or did you mean pastime? :)

90 minutes since open and only 54k shares traded. Seven days of a fairly static share price. Expectation building for several key RNS. Could this be the calm before the storm?

>> I don't think we should use 10k per tonne unless it's at $15k per tonne.

Yes, you are right - I was getting a little carried away then :)

On the other hand, we are all assuming that 3% is the max for in-ground. Given jurisdiction, nearby infrastructure and low cost of extraction, maybe we are being to pessimistic on that factor.

>> Equally I cant see why there is anything to "legally" force XTR to produce a JORC at any time.

That is an interesting question. This is an unusual situation in that it may be in the long-term benefit of the company to be slow to produce a JORC, when most companies would try to get that information out as soon as possible. The question of 'delaying' a JORC probably never arises. You could argue that knowing the AA buyout is more likely to happen is material information.

I'm in no rush for the JORC. The more drilling we do before updating the JORC, the greater the total ore and the higher the eventual sell price.

As for potential share price, 2mt at 10k per ton x 3% is £435m ($600m). Assume 1b shares (current 845m) and that is a share price of 43p plus Africa assets

Even if we use 2% and $8000 for copper, which I think is very low-ball, that is 23p. And that is assuming the total is only 2mt.

@pepemartinez

I highly recommend reading through all the RNS for 2021. That will give you a good understanding of your investment and the potential returns.