Member Info for stevemocal

I think they might be a bit shallower but it is difficult to say because they have been rolling up the start and end reporting (which makes sense) so you don't know the exact day things start and finish. I have told myself that the holes won't finish until the weekend and we'll get a 7am RNS on Monday. Could be a very nice start to the week... but I won't object to some good news before the weekend either!

What seems certain is that the holes will have reached a depth where mineralisation will have been hit. It also seems highly unlikely that CB wouldn't have been getting verbal updates from the site and will have know whether there is visible copper when he bought his 2m shares yesterday. I am full of confidence... those potential extensions are huge.

Typical.

Still, should open nice and blue tomorrow.

Maybe the odd number of shares equates to the tonnes of contained Cu he thinks is already inside that proposed open pit?!?

cboney - Now that's a nice position to be in!

Cygnus - Welcome to the Over-Committed Club!

Xeiger - It will have to be a mightily bad storm for me to sail into that port!

CE - If I get a few knockbacks during the course of the party then I'll just take it on the chin. I'm pretty sure I'm going home with a stunner at the end of this party!

It would be nice to get some good news out of Africa to gives us a kick north whilst we wait on Oz... this constant drifting is so tiresome. Still, another little top up on Thursday if we're still down here. I've got a tax bill to pay but every week it's a choice between paying it or buying more XTR shares... the tax man ain't having much luck.

I guess we have another week before we get news on the latest 2 holes, which could well confirm a huge extension to the SE. Then we're into 'Assays September', which is billed as a month long fiesta but could last the rest of the year.

I think XTR have taken the wise decision to focus on proving Racecourse can be turned into a profitable open pit mine. That would completely de-risks the investment for all that are already in this, and we can then build from a solid foundation.

That said, CB has already stated he is going to sink at least one drill into Footrot during Phase 2 for a little peek.

I think those first 4 holes were all about the grades. Here's hoping.

Leo - Funnily enough, I live on the outskirts of Sheffield, overlooking the Peak District, and got wondering the other day whether there had ever been any copper mines around here. A quick Google search later, and I found out some amazing stuff.

Did you know that Britain used to be the number one supplier of copper to the world? And not far from where I live was one of the biggest copper producing mines in the world. It was owned by the Duke of Devonshire (Chatsworth House) and made the family mega rich. The Ecton mine contained ore that was 60% copper in some parts and was a 'saddle deposit'... which we may also have at part of Racecourse. Is that a sign?!?

https://www.thepeakdistrict.info/ecton-copper-mine/

Xeiger - I don't think AA ever released the data they used for the latest JORC but I'd be delighted if someone would prove me wrong and share a link?

There is data for holes drilled before AA had Racecourse, which I don't believe were included in the AA JORC (presumably because AA didn't do them and couldn't verify the data?). They have been posted before and you can find them in the link below. Click on the 'Read More' for the post dated 29th May and you'll see the assay results for each hole. There were some tasty grades, near surface and some gold. I'm still convinced this is a whooper of a deposit... just had another nibble!

https://leprechaun1974shares.blogspot.com/

Cygnus - What I keep reminding myself re grades is that when the original JORC was done they had no idea the extensions were even there. It was a game of lucky dip and what are the chances of pulling out the best prize (the highest grades) with your first dip? Yes, there are going to be a few bog rolls in wrapping paper down there but it seems highly unlikely there isn't plenty of good stuff too.

I am very confident of us breaking through the target of 2mt of Cu Eq and that it is going to be economic to bring up. I'll be topping up as soon as my cash clears.

Perhaps not the most technical bit of analysis but... the market is nuts.

Thankfully, XTR has a strategy that will eventually force the market to more accurately reflect the value of the flagship Bushranger asset i.e. update the JORC to show 2+mt of Cu Eq, evidence it is economical to mine, get it valued by an independent expert and sell it to a major who will recognise the value. We just need XTR to keep doing what it is doing and wait... the market will wake up sooner or later. In the meantime, I'll have another little top up once funding arrives later today/tomorrow.

GLA

Moving the price around to generate business, works... tempted me to sell another small holding and have another top up here. If we hang around at this level until the end of the week, I'll have another nibble.

Almost nobody bailed or jumped on board.

Not sure we are going to move much north (more likely south) until a major investor shows their hand or we get back some great assay results. Think we may have another month of this. I'll wait... impatiently.

Maybe some late or after hour buys to come in?

Screenlearner - You are not alone!

I think there will plenty of extra jam from these first 4 drill holes, although it looks like the holes start within the bounds of the existing JORC. That said, they appear to be positioned to clip the known anomaly (perhaps trying to catch richer grades on the outer zones and boost the average Cu Eq content), before moving into the untested Eastern zone... which is all new jam.

That's my take on it anyway. No guarantee I'm right!

I was offer 4.1 to buy £10k just now with a spread 4.1 to 4.2. Make of that what you will.

Flex - I thought H10 was angled at -85 degrees? And I was looking to see what angle was used for H9 but could find anything other than 'more steeply' angled (which I assumed to be another -85 degree angle.

A hole of 768m drilled at -85 degrees would extend approx 67m out from the drill pad. Not a lot to go from a West zone to an East zone but we need to remember the anomalies are sitting in a diagonal direction from the SE to the NW. Therefore, if you point the drill in a NE direction starting near the edge of your Western zone, then you could clip the bottom of an Eastern zone even over a relatively short (horizontally from the pad) distance... as seems to be the case at 600m within hole 10?

Don't know if I worded this to make sense and just thinking out loud. Happy to be corrected.