Member Info for Steve4077

>> I agree with you,After that interview i'm sure the SP will go down

If we triple the resource to 1m tons of contained copper, that would be worth about $240m based on current in-ground copper value (about $240 per ton or 3% of $8000 per ton current price) . That doesn't even include the gold, which he seems quite confident about. There is existing infrastructure and its in Australia, about 150m from Sydney. The mcap is currently £32m.

I can understand your concern.

>> Chalco much lower part , pyrite & pyrrrhotite dessimnation & fractured drill."

Just in case anyone reads the above as the Chalcopyrite mineralisation being of lower quantity, the original quote from the RNS is:

"Chalcopyrite copper mineralisation is observed through much of the lower part of the drill interval, accompanied by pyrite and pyrrhotite in the form of disseminations and fracture-fill."

Just had this weird mental image of Colin Bird in a Buzz Lightyear outfit shouting "To Expectations and Beyond!"

Just thought I would share :)

(ran out of allowed text - first time I've done that)

I was going to say that there are several holes to go though, so it will be a while before we have a full picture of the porphyry, or maybe even porphyries. Interesting time ahead.

I thought it would be interesting to directly compare the Friday and Monday RNS.

Friday RNS

· Hole BRDD-21-002, the second hole of the Phase One Drilling Programme at the Racecourse Mineral Resource on the Bushranger Project, is collared over 300m from the previous hole, angled at -80 degrees and is offset from strike with the aim of crossing through the down-plunge extension of the deposit at depth

· Drilling has continued to a depth of 492.5m, having passed through the outer layers of the porphyry alteration system and entered the central potassic alteration zone at about 450m

· Copper mineralisation becomes more pronounced with depth since it was first observed at approximately 130m downhole, and especially since 340m depth, occurring as chalcopyrite, accompanied by pyrite and lesser pyrrhotite in the form of disseminations and fracture-fill.

Monday RNS

· Hole BRDD-21-002, the second hole of the Phase One Drilling Programme at the Racecourse Mineral Resource on the Bushranger Project, is collared over 300m from the previous hole, angled at -80 degrees and is offset from strike with the aim of crossing through the down-plunge extension of the deposit at depth.

· Drilling has continued to a depth of 685m, passing through various rock alteration types as far as the current depth.

· Chalcopyrite copper mineralisation is observed through much of the lower part of the drill interval, accompanied by pyrite and pyrrhotite in the form of disseminations and fracture-fill. The hole is continuing.

Bullet point #1 is identical. Monday bullet point #2 is less specific vs Friday. Friday stated "passed through the outer layers of the porphyry alteration system and entered the central potassic alteration zone", whereas Monday has "passing through various rock alteration types as far as the current depth". This could be read two ways; its complex and they aren't really sure what they are seeing (the double yolk maybe), or it is passing out the other side and CB is not stating that specifically. I'm more inclined to think the former, as CB has been upfront about everything so far, plus if they were coming out the other side, that would be material information that should be released.

Bullet point #3 is similar, but CB does note that the "mineralisation is observed through much of the lower part of the drill interval", which is effectively stating there is a lot of mineralisation but it is not continuous throughout. This was a point of debate following the Friday RNS, so he may be making that clear.

The key though is the CB statement that "The hole continues and the mineralisation thickness is to our expectations and beyond. We will extend the hole until we reach rock types which are atypical of porphyries in the area or the mineralisation diminishes completely.". I don't think he is saying 'beyond expectation' if the drill is disappointing.

There are several holes to go though, so it will be a while before we have a f

https://www.londonstockexchange.com/news-article/XTR/bushranger-drilling-programme-progress-update/14848153

@TDoubleu: The best way to gain confidence in this, or any other mining stock, is to do as much research as possible. At a minimum I would read the company presentations and all the RNS for the last year or so. Then, spend some time learning about mining in general, especially how to calculate value in ground vs cost of extraction. Finally, do some research into porphyries, because they are not very common but you need to understand them to value this stock.

Armed with that knowledge, you can then decide whether this stock represents a good investment.

>> My question is if this was a ten - 20 bagger, the SP would have “space jumped” by now even before the assay results.

You mean like all the other companies that 10-bagged on the first drill results? Except, of course, that doesn't happen because most people don't bother to do research and therefore end up paying a lot more once the stock starts to move. Maybe check out what happened with companies like GGP or SOLG which did 10-bag, but only when the market woke up to information that had already been available for a while.

The whole point of investing is realizing the potential before the herd wakes up. I understand you are a trader and don't think in those terms. Personally, if I had to make money by spreading false, negative information in order to scare people into selling for my own benefit, I don't think I could look at myself in the mirror each morning.

>> And with less than 600 posts, I get it that you love watching dumb interviews and rumours.

Well, I'll take what I can get :) Although, I may also have spent time researching the stock and the local geology

Besides, I'm not going to make much money if I wait until the market has complete information and the share price reflects the true value :)

>> I’ll trade this share but won’t be “hodling”

@H-hi If you are trading, that explains the de-ramps. I'm not a fan of trying to scare people into selling to generate trading opportunities, but I accept it is a valid strategy if you are trading rather than investing.

>> Too much focus on dumb interviews and podcasts, we need pure numbers......real sample results! I know this is AIM but it seems most here just watch dumb interviews and dive in.

With 5000+ posts, it seems unlikely you don't realise that drill results have to be sent to the lab for assays before you can see the numbers. Therefore, C- for the de-ramp.

Is there a way to see this from the start, rather than live?

>> unfortunately the market wants more tangible evidence,

@demark - what type of tangible evidence do you think the market wants?

The MMs are dropping the ask at the moment, even though it is low volume and almost all buys. We might see a tree shake this morning to gather shares for a later RNS. Assuming there is some logic involved and it isn't just some algorithm moving the price regardless of fundamentals :)

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

"Under the terms the Bushranger Acquisition agreement, if a deposit of greater than 2 million tons of contained Cu equivalent (e.g. 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. Anglo and ProspectOre would then provide funding pro-rata to their interests, save that ProspectOre may decide not to provide its share of funding and be diluted, ultimately retaining a 0.75% net smelter royalty (NSR). If a "Decision to Mine" is taken by ProspectOre prior to the identification of 2 million tons of contained Cu equivalent, Anglo also have an opportunity to exercise the buy-back. Anglo have a once-only opportunity to exercise the 80% buy-back whether the opportunity comes through the discovery of 2 million tons of contained Cu equivalent or a decision to mine."

I think SLZ might need spellcheck. The first real slide, named 'INVESTMENT HIGHLIGHTS' has the first section titled...

"HIGHLY PROSPECTIVE GROUD"

Maybe a groud is similar to a porphyry, except shaped like a gourd? :)

Anyway, thanks for link - will read through.

With this share I can't believe you didn't go with the original :)

MAN: You hear that? Blessed are the Greek.
GREGORY: The Greek?
MAN: Mmm. Well, apparently, he's going to inherit the earth.
GREGORY: Did anyone catch his name?

Obviously not many python fans on here :)

I was checking my broker account today and couldn't understand why I had £3600 more than I expected. Took me about 10 minutes to realise this had relisted and was up almost 90%. Very nice surprise.

>> “Blessed are the cheese makers”

Well, obviously, this is not meant to be taken literally. It refers to any manufacturers of dairy products.