Member Info for stevemocal

MaBaker - No worries!

The claim by Steve4077 that BR was not viable did have a bad impact on the SP but I don't blame him for selling his shares before making the claim... who wouldn't? I think he is wrong though. The problem wasn't with his calculation (the maths was sound) but with the numbers used in the calculation for the capex and opex costs... he guessed them and you simply can't do that when tiny differences make a huge difference when calculating the viability of a project. His calculations also didn't include the yet-to-be-JORC'ed resource found by the phase 2 drilling, which will be included by the company doing the modelling (XTR will seek to formally add that resource to the JORC later with infill drilling). All in all, way too much room for error to make the claim he did IMO.

The way I see it, the African assets alone are now worth more than the current SP suggests and I therefore have little to lose by holding the approx 2m shares I still own. I now eagerly await the updated modelling due 'early 2023'.

GLA

I would like to see that SEAPEX presentation on Monday... is it likely to be recorded and shared with the plebs? Or perhaps tweaked and shared via a webinar for the great unwashed?

Which reminds me... I've not had a shower yet this morning. Back in 10.

It is just a guess but I am thinking they accelerated the Dunrobin CPR for a quick sale (which the partners also want for their own reasons) that will put them in a super strong position for any sale negotiation for Chuditch (the cash rich don't have to submit to a shafting over a barrel). And now seems to be the perfect time for all parties (BOIL, Buyer and TL) to do a deal.

BOIL will be happy to take a huge 'bird in the hand' profit, a Buyer can get in early and grab a bargain (so much upside) and TL need gas and revenue sooner rather than later (can't wait for snail pace BOIL to move this on). Seems like the stars are aligning in terms of the three parties involved being able to get a win-win-win... but could just be wishful thinking on my part!

Here's hoping the next RNS is to announce an offer for Dunrobin.

Hopefully shares are increasingly finding their way into stickier hands, which will help the SP to breakout in the near future from that .28 high.

A lot of long time XTR/CB believers starting to get more than a little frustrated… myself included.

We are two months into the year now and still awaiting the updated modelling expected ‘early’ 2023. CB needs to bring this in on time and make it spectacular or there really will be mutiny in the ranks.

I’m trying to only check-in weekly now (unless and RNS lands)… mental health preservation tactic!!

Senormendoza - Glad I'm not the only one who said that to the wife when the Dunrobin CPR landed! Yep... the market sure has a habit of making you look like a right plonker when it comes to SP predictions!

Like most gamblers... only the winners get mentions!

Good luck to him but he needs to keep himself in check, not start thinking he has this game cracked and that he can't lose. It just needs a couple of those investments to go Pete Tong (anyone seen that happen before?!?) and he is back to sitting on loses with his capital tied up or taking loses that start to make big dents in those wins.

Investors seek larger returns over an extended period through buying and holding. Traders take advantage of both rising and falling markets to enter and exit positions over a shorter time frame, taking smaller, more frequent profits.

The people who bought a few weeks ago and sold recently are therefore, by definition, 'traders'. Nothing wrong with it... it is just a different strategy for trying to make money on the markets. That said, some investors do regard themselves as the Purebloods and the traders as the Mudbloods!

Amazing really that people holding shares in a company would choose to sell upon news of a CPR that confirms a doubling of the resources estimate at one of the company assets. And on the flip side, we have seen people buying in on a spike with absolutely zero news!! Nowt so queer as folk!

Polly stuck the kettle on this morning but Sukey seems to have taken it off this afternoon.

Oh well... here's hoping for an RNA/S that leads to a fresh brew in the morning.

It must clearly state in the contract what is required for a decision to mine but CB instead talks about 'heading' towards financing and a PFS... it is more than a little frustrating. Some people inclined to be less trusting might even say it was deliberate evasive.

One things is for certain... XTR and AA can agree a deal before a DTM or a JORC resource estimate of 2mt of Cu. Might it be in AA's interests to do so?

What is also certain is that XTR have only scratched the surface in terms of identifying the Cu and Au at BR. Compare what XTR has drilled compared to what they did at Cadia Hill before they started their open pit mine. They drilled a total of 369 holes at 157,000m... and they continue to find more across their district some 30 years later. So, at what point should AA make a play for Bushranger knowing the resource is only going to grow? If FB starts providing regular and significant cashflow, then XTR can keep drilling and for every 0.1mt that XTR can add to the resource, the price tag is going to increase considerably. It may be in AA's interests to make an early offer.

howezap - It would be nice to have confirmation of whether a PFS or DFS is required to trigger the buy-back clause. The definitions I found for these studies is in the link below, and that says DFS is when a decision to mine is taken. Would be great if CB could clarify in the next RNS!

https://stockhead.com.au/primers/your-guide-to-mining-feasibility-studies/

My understanding is that XTR need to produce a definitive feasibility study confirming the viability of a mine and then they can trigger the buyback clause... regardless of what the JORC resource estimate is.

I guess the question then is how many more steps/phases are there before XTR get to the definitive feasibility study stage? If the study being produced reaches the level of a pre-feasibility study, then perhaps just one more drilling phase will get the data need to get this over the line? If more than one drilling phase is required , then I think we are looking at another 12 months of work. As always... ready to listen and learn from those more experienced that can perhaps answer the question better?

They can't realistically sell it until after the AA buyback has been triggered by a 2mt JORC or a decision to mine because the clause would pass on to a new owner. So they'll keep working on it until they are in a position to trigger the buyback clause.

I was hoping we were going to get an RNS saying CB has bought again.

'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.