Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
'Steven boy
What a stoopid post.
You just sum up the mentality of some of the posters on this board.
Insult away littleman.'
I was making a light hearted joke because the fact is that no PI is going to get any newsworthy information from anyone in a listed company unless it is in the form of an RNS. Tim was polite to you but was probably thinking what I wrote. Anyway, just a joke... don't bite.
"I wonder what it's says under the black? I have had a guess myself :)"
Addison - I reckon it says...
Dear Fishface,
Please stop emailing me and f@#k off. As I said "No expectations previously announced have changed".
Kind regards
Tim
The opposite of 'early' is 'late' and there is the middle bit between the two. You would therefore think that for something to be early in the year, it would have to be in the first four months. But CB isn't exactly renowned for using precise language when it comes to timescales... so who knows.
I personally think he has the updated report and will just keep 'processing' the data until the price of copper is higher and he has acquired enough revenue from Fairbride to fund a short phase 3. If a few extra drill holes can make a significant difference to the amount of resource and business case viability, then let's get it done.
This time next year, Rodney.
CDF1 - What is life changing for a PI is nothing to a big investor and big investors can't take the sort of large position they would want without the market noticing and the SP rocketing. So there is literally no point in them trying to take a gamble ahead of news. They may as well wait for asset confirmation / route to monetisation, and then buy on the way up as people take profits.
Does anyone know how long it takes to complete a concept select program expeditiously?!?
What they need is a new large mine in a very safe jurisdiction to offset the risks of investing in volatile jurisdictions.
"If they were knee deep in talks with a prospective buyer, would they be showcasing the block in 3 months time?"
Filthy - If they are in deep discussions with one or more potential buyer, then they will still want to keep their options open and also avoid it looking like they are desperate to sell... otherwise you will only get a lowball offer. Arranging to present at various future forums months away is both keeping the options open and to send a message that they will happily wait to get the right price i.e. 'if you want us to take it off the market then make a good offer!'
That's my take on it anyway.
mercedesman - You bought £24k worth and haven't done any research? Don't suppose I could interest you in a used car?
I believe the term EGM was dispensed with and now there are just AGM's and General Meetings. The 2009 amendment to the Act lowered the threshold for shareholders being able to call a General Meeting from 10% to 5%.
That said, having more than 10% of a share does still have some advantages - 10% allows you to demand that a vote at a general meeting be held on a poll basis (one share equals one vote), rather than a show of hands (where one shareholder gets one vote). A shareholding of over 10% also affords you some protection in the event that an offer has been made to buy the company. The purchaser’s position is much stronger as against the minority shareholder if they can acquire 90% or more of the shares. Subject to any other relevant agreements and minority member remedies, the minority shareholder may have no choice but to sell as well.
SundaGas is a subsidiary of BOIL and that company owns Chuditch - any buyer will almost certainly just buy SundaGas from BOIL to get their hands on Chuditch.
The way I see it, it is a bit like someone wanting to buy a £5m house and the seller asking if they want to purchase their collection of sheds at the same time. It is possible but it is more likely to be a 'no thanks'. And I think that will work out just fine for BOIL and its' shareholders... After all, Dunrobin is a top of the range shed and shouldn't be given away as part of a fire sale / job lot!
ZM - It is just a shame they didn't repeat the second paragraph you quote from the 15th Dec RNS in this one. Many investors won't remember what was said or go back through old RNS's. AIM investors are always wary of dilution and therefore the message needs to be repeated regularly or speculation about a pending placing is inevitable.
It is a shame CB hasn't employed a comm's professional to manage the messaging across all of his companies. A small cost per company but it would help to avoid PR blunders or missing PR opportunities and therefore look after the SP better. There was no need for the SP to take a hit on this news.
russiangirl... I promise you, there is no hidden meaning in my post.
Sadly, I genuinely caught myself reading your post with a Russia accent. I am genuinely on day 3 of Dry January after 5 starts. And there is every chance I am not going to make it to the end of the month (the day even) without at least one more restart! Don't have sugar though, so not all bad.
Tell the truth now. Has anyone else caught themselves reading russiangirl's posts in their head but with a Russian accent?!?! Maybe it is vodka withdrawal as I'm on day 3 of a Dry January restart. It's the 5th restart. Time for a 6th yet.
I am no tax expert but my understanding is that if you are a UK investor, with a UK ISA and are invested in a UK stock, there is absolutely no tax on any dividends or any capital gains tax. You don't even have to declare it on a self-assessment.
When they announced the maiden resource for Ascot, the RNS stated "Following the updating of the open pit mining study, Xtract will determine the optimum way to further advance the Bushranger Project and advise shareholders and the market early in 2023 of the Company's plans for the Project." Any raise would need to come on the back of this and be sold to shareholders on the basis it will add more value during any sale negotiation.
howezap... that was a classic!
I'm not quite a one-trick-investment-pony but no far off it and getting similar grief. You may you have some love interest competition for Julie in Salisbury!
That should read... I still didn't have a sale until Q4 2023.
Andrew - I almost posted something similar yesterday but decided against it. My timelines were a bit more optimistic but I still didn't have a sale in Q4 2023.
I must admit to feeling a bit frustrated at the 'early 2023' timeline given in the RNS for the new modelling. I note that after the Racecourse JORC there was a CB interview on 29th Nov where he said the resource model had already gone off to the modellers. OK, so they needed Ascot too (which they now have) but how long should it take? It was actually less than a month from the last Phase 1 assay result being reported, to the release of the first model study - shouldn't it be a similar timeline? But, given the 'early 2023' timeline, I suspect you will probably be right about Feb/March and that they will sit on it until they have the FB income to fund next steps at Bushranger.
Into the bottom draw it goes.
Andrew - Eureka looks to have been mothballed at the vey least. Maybe they will revisit once there are some coffers in the bank and regular income. I would certainly favour that for now.
Yes, below 200kt for the first MRE at Ascot would feel like coming up short again. We can only hope that CB had the sense, after the disappointment of Racecourse, to set the bar low so they can clear it easily.
If we have 200kt+ at Ascot after so few holes it will be great. I've said it before and will say it again... 369 drill holes were completed at Cadia Hill in order to quantify the resource, optimise the pit design and begin mining. Ascot has absolutely massive potential.
I am also really hoping (I know I should know better!) that CB has learned his lesson and, during those post-MRE interview, set low expectations for Ascot in order to over-delivery when they are finally released. No 7am RNS today, so Monday maybe?
As for the latest purchase... I was totally dismayed when CB said they were in 'acquisition mode' but this appears ready to go, may quickly start delivering profit and has potential to expand. As others have said, two years ago this news would have been well received by the market but XTR currently has a bit of a 'getting things over the line' reputational issue to address.