Member Info for stevemocal

Cygnus - You can choose your friends and investments but family and your football club are accidents of birth. ;)

I’m hoping for new on drill holes 18 and 19, and assays for hole 7 early next week. I think they want assays for hole 7 before issuing an update on the modelling later in the week.

I seem to be in a minority of one, but I still think we may also get an updated JORC!

Anyway,that’s enough XTR for me for the day… football on. Come on you Eeeeeeeeeagles!!!

There is no way we will drill this up to the point where a measured resource can be calculated. Indicated at most, and negotiations with AA will begin with an inferred 2mt of contained copper.

We must be close to XTR updating the JORC. Remember, there have been several JORC's over the years and none were based on anything like the amount of drilling done by XTR. I think they are just waiting to hit the magic 2mt within that conceptual open pit... and I am really hoping hole 7 assays will be the tipping point.

All IMHO.

Going to watch a film now to try to stop thinking about Bushranger!

Hole 7 assays next week, plus an update on the drilling of holes 18, 19, 20 and 21 and an update on the "the way things are going relative to our modelling, pit shape and the rest of it."

Expecting next week to be a big one. Have a great weekend everyone... we go again Monday!

Screenlearner - It may well be just a pit shape update with holes mapped but I'm hoping for a little more because he went on to say "We're going to give the market and update on the way things are going relative to our modelling, pit shape and the rest of it." We'll see.

GLA!

Steve - I don't see how AA could force XTR to the negotiating table until they are ready, so I don't think releasing an updated JORC would be a problem.

Ella - When CB said he he's planning on sharing the updated modelling with the market, I assumed (rightly or wrongly) that it would include both the geological and economic modelling. If they are updating us on the economic modelling, then I would have thought they'd also need to update the JORC on which it is based? We'll find out soon enough.

Isomer - Hole 7 was a bit longer so I'm not expecting the assays back until next week. Would love to see them land now though as I think they'd give us a huge kick into the weekend.

Hole 7 was was 847m long, encountering a well-mineralised 173m interval of copper mineralisation from 239m depth. It then continued for a further 435m, with multiple porphyry units encountered in the hole, with persistent lower-grade copper mineralisation throughout much of its length. So... hole 7 may confirm the theory that there are older intrusions on the eastern side that have less copper but are heavy in gold.

Ella - CB said they were aiming to provide the market with an updated model and confirmation of where all the drill holes were pointed by mid next week. Could we even get an updated JORC as well?

Screenlearner - Yes, the assays landing late meant Super September turned into Steady September with just 21.7% rise from where we were on 31st August. Here's to Outstanding October moving that decimal point to the right.

The guys on the GGP board appear to have been so upset by gold5's question re XTR, they're have the thread removed!

GGP is the only gold in the village. :)

Feels like we are very close to finally getting confirmation that we've hit the magical 4 beer mats target. That will remove all the risk for me and I will then sit back and relax whilst they count how many more are down there. Up to 13 in all according to my modelling... but DYOR as always. ;)

Blueballsnall - I don't think CB can come out and say they have 2mt of contained Cu Eq within the pit area until there is a new JORC. But if you read between the lines (and he isn't being too subtle) then it seems clear that the team are very confident that's the case. And the anomalies to the SE have the potential to increase the deposit by multiples.

Steve - I landed a sweet contract about 2 months ago that pays weekly. It's allowed me to keep on topping up and I'll keep doing it until this thing goes pop! XTR will now decide if I retire in months or a decade.

I think CB knew it wasn't $200bn but when someone keeps saying it with confidence it makes you doubt yourself! One too many zeros lads.

Nice though that CB pretty much confirmed that they think the target of 2mt of contain Cu Eq will be achieved within the conceptual open pit envelope. And then they'll add in the really big stuff!

The SP is insanely low and I'll be having another top up when funds clear later this morning.

I've come up with various ways of modelling and calculating the contained copper within the deposit. Some actually apply a reasonable amount of mathematics but my favourite is what I've named the Beer Mat Model, and I use it often to remind the wife why I keep buying more shares and why she can't have a new bathroom just yet.

Basically, I take a stack of square beer mats and put one on the table... that represents the copper we are pretty sure is down there (current JORC inferring approx 0.5mt of contained Cu Eq with a cut-off of 1.5%). But from the additional drilling and IP surveys, it looks likely the deposit will be three times as long (add another two mats to make a line of three), twice as wide (and three more alongside) and twice as deep (add six on top). Then there's Footrot (put another one on the table on it's own).

So there we have it... the Beer Mat Model calculates there could be as many as 13 beer mats at Bushranger and I'm betting on it. To win, I just need XTR to find four and I'll get ten times my money back. And for every beer mat over four, the happiness will just keep getting happier and the wife may even get that new bathroom.

And so you don't think I am some sort of cowboy investor, please note that I've had the model peer reviewed. My mates down the pub reckon it is likely to be accurate to +/-50% and that means I'm odds on to win! That said... people may want to do their own research.

GLA

Many thanks Iceberg. So you think we'll be getting an updated JORC when they released the update modelling?

Hole 8 confirmed the presence of a high grade 'crown', which has not been hit by previous drilling, and will substantially increase the amount of Cu within the existing JORC area and the conceptual open pit as a whole. It also confirmed there is a second porphyry system containing gold, also within the conceptual open pit.

All adding more towards the magic 2mt of contained Cu Eq target. A target they are aiming to now hit within just the conceptual open pit area. The massive anomalies to the SE are yet to be factored in at all (perhaps 150% bigger than what's in the current open pit foorprint?) and a 1km long anomaly at Footrot too.

Really surprised there aren't more researched PI's seeing the opportunity and driving the SP up but, alas, it would seem that researched PI's are almost as rare as world class discoveries!

Hey-ho. Payday for me tomorrow and if others don't want to take a share of what's coming, I'll take a bit more.

Hard to fathom how the SP can be below where we were before yesterdays' RNS reporting great grades over a long intersection. When this thing finally pops it is going to be explosive.

Andrew - The sum on the cheque... are they paying in instalments?

Willow - Quite a few of us.

Only £1k from me this time but executed 2minutes ago. 22,376 shares & the bargain price of 4.469p.

If you could just give it 10 minutes whilst I complete one last small purchase... thanks.

CB makes it clear they think they'll have 2mt of contained Cu Eq in the conceptual open pit. And then there is an anomaly approx 150% bigger to the SE. And Footrot that the IP suggests is 1km long.

This is going to be absolutely massive and I cannot believe the SP hasn't popped already. I've just drained the current account for another top up and now waiting for the telling off text from the missus! Will take 15 minutes to clear... don't pop yet!