Member Info for stevemocal

TDoubleu - I don't think XTR can hide behind an NDA when it comes to reporting information to the market that would impact investor decisions and therefore the SP. Assay results are no more commercially sensitive than an IP survey and it would be completely inappropriate to try and claim they were commercial sensitive during a negotiation. Doing so in order to keep the SP low is market manipulation and completely illegal.

That said, I am starting to think something must be going on behind the scenes. What, I do not know, but this ongoing radio silence is very strange and really putting PI's through the mill. I suspect we will shortly all be very happy or very angry.

GLA

Cheers

Hi Oliver - Would you be able to share a link to that?

Thanks

WhiteKnight... How do you determine it is a sell?

And a UT worth a whopping 49 pence makes the closing SP 4% higher and adds £1m to the MC!!! Until the morning anyway. Funny old game.

Buy or sell? Anyone want to admit ownership of that trade and tell us?!?

Steve - Assay results are commercially important but not commercially sensitive (they are reported by every mining company). I still can't think of any legit reason for withholding them during a negotiation... but I suppose that doesn't mean there couldn't be one!

Anyway, I'm going to sign-off for the day because looking at that SP is making me depressed.

I cannot think of any legitimate reason why either AA or XTR would want assay results withheld from the market during a negotiation. It is not commercially sensitive information that you would use an NDA to protect.

The assay results from any single hole don't make or break a discovery and, IMO, it would therefore be better to release them all together for a more balanced picture. But that isn't what we were told would happen and therefore the continuing absence of assay results is making a lot of people very twitchy and playing havoc with the SP.

I agree, cyberiachas, it would have been very easy to have given an update on the assays in the last RNS and we have gone from great comms to poor comms. I hope there is a good news bomb on the way so all can be forgiven.

I have to say that I was truly amazed that the SP went down this week given the sheer scale on what the IP survey showed us on Monday - especially as it looks like there is even more to be discovered to the south/ south east and footrot still to do as well.

When the SP was knocking on 9p we had the same info re grades and didn't have this new evidence re massively increased scale. Fair enough, the placement watered things down a bit but how does this end up 40% down?!? I don't understand the market, which is why I don't trade but look for investments. At some point the value of Bushranger will likely be decided by an independent expert and not this fickle market... I will wait (impatiently) to take my share of whatever that turns out to be.

Hi Ella - The link doesn't work for me.

I decided to be conservative and not compare Bushranger to the Lost Gardens of Heligan Pineapple!

Approx 2,200lb in a metric ton... so that would be $66m per mt.

Maybe that is correct for the M&A transactions he reviewed but where were they, what was expected capex and how big was the discovery? So many factors will affect a final value that the range used to come up with that 3c average could have included acquisitions for as little as 1c per lb or as much as 10c per lb. Whatever the value range, Bushranger would be at the top end because of its' size, location and jurisdiction.

IMHO that average is simply too blunt an instrument for even a basic valuation. It is like trying to calculate how much you'll get for a crate of Densuke Watermelons using 20p as the average cost of a piece of fruit. Any for those not familiar with the Densuke Watermelon... all you need to know is they are ******* expensive!

Thanks Steve... one day soon (I hope), all will be revealed.

Steve - I still don't understand... why would assay results be held back even if CB is in discussions with AA?

It is possible that negotiations have already begun with AA - I have previously suggested that getting an AA geologist involved in phase 2 planning might result in a quicker negotiation/sale - but I can't see any deal being done before the completion of phase 2 and the updating of the JORC. Quantifying the value of the asset to agree a fair price will result in a win-win that both sets of shareholders are happy with.

I don't really understand why assay results would be withheld if a negotiation had begun... what advantage would it give? No company is going to make a blind offer.

Jezzo - You could have taken one for the team and sold some to make certain of that RNS.

There in his tent.

Gixxer - It was a long shot sending the email. Luckily, I've not been holding my breath!

Ella - have you been in touch with the NOMAD to question the delay in releasing the assay results?

I haven't been in touch with the NOMAD but did email Extract last Friday to ask when assay results were likely to be released. Not had a reply to date but if I get one I will share on the BB.