Member Info for theiceberg

As an aside if more funding is needed. I would happily take part in a primary bid placing. A chance to subscribe for one share for every 10 you hold, do it over night or during the weekend so the price can't be manipulated down. Raise a few million to keep the drilling going until the full revenue from Africa can take over and allow investors to step in that will hold their shares more knowing what we have.

I can't see the moly being commercial tbh. It does point, in a more classic Porphyry, that the moly is situated in the base of the intrusion normally. I don't think these are truly normal porphyry systems in that the mineralization is situated along the edges rather the crowns of the porphyry, leading down.
Just my opinion, but it might indicate an even more lateral system at ascot than RC.
It's right to investigate the point between the two systems, I believe to go much further South will require a third approval from NSW.

Roll on 38!

I also agree with the broker comment, Colin get a joint broker in, somebody that will add value! I've been saying it for months. Also dump the nomad.
Sort out the directors and the company structure, put together more presentaions!

That said bushranger is still incredible and gets more so, the more we drill!

I know that the xtr geos have talked about saddles etc and Colin hinted that the pivot point of the system could be between ascot and RC (at least I think this is what they are saying).
But as he mentioned this is a different porphyry, it supports the idea of a potentially older escape channel from the sub suction zone.
It could be that RC buts up against it from the south, it might be really interesting to see that.
Hopefully we get some visuals from the other holes post 35.. :)

Its a shame that it has been released this late, i hear from the interview he says its because of timezones , however just keep it for an hr and release it tomorrow, it wont effect anything and gets alot more attention.
Comparing the two interviews, the previous one where he talked about a quick sell, i had a lot of issue with tbh.
This company interview, is much better.
My final moan is that i also wish he had released ascot (hole 35) as a separate RNS. They are different, i have said this previously but i also appreciate its upto him.

Anyway: Bushranger we always thought it tapered out where 18-22 are. (when i did a rough model last year i had barely any tonnage up there). Still good lengths and all adding to the open pit as its above cut off, its also adding to the tonnage. It's looking more like 600-700m at .3 Cueq, rather than 500m at .4.

Moving to Ascot. Bang as expected and hoped, which was incredibly high! I think my blog diagram was not too far off from the geo cross section, importantly we've got good copper, some gold (probably a 10 on the dice roll) and it starts near surface. The gold is probably commercial (unlike Racecourse). Also some signs that the grading is better a bit further down.
This is important, as I've been banging on this will , IMO, improve as the system goes south and rises. So that better grading gets bigger and closer to the surface (much like RC). I wouldn't be surprised to get holes of 300-400m at .8 to 1.0 CuEq maybe half a km to one km further south.
We need to explore Ascot, Yes RC is still massively attractive and worth far more than the current MCAP, but we need to show that Ascot is 2km or so in length and more importantly that the core of Ascot is not only profitable and commercial but highly desirable.

By all means sound out AA and enter an Exc Agreement, but please please lets continue to put more holes into Ascot while we do the model and MRE for RC.

Looks like a $5m sell on otc to me, probably a book builder participating company, offloading before the risk of the drill and test. They've taken a 10% profit....fair enough and has nothing to do with the company. My guess would be that half of that has gone to aim and the rest brought on otc.

That's not bad is it? As promised it's gone from a dribble, to at least a meaningful flowing stream, if not a flood yet.
Impressive that's costs have stayed consistent as well. It pays to keep the lights on and the wages of the bod.

To be fair, the labs and drill teams will have stopped for maybe 10 days.
Saying that I would be in favour of a monthly or even quarterly update for bushranger. With more input into the graphics etc.
That doesn't mean we have 3 months without news.
We can still get eureka news updates, moz etc.
We can still get updates on board changes.
We can still get brokers or share analyst s on board to give share price updates.
Revenue updates etc. Interviews with Colin or even other members of the bod, updates presentations.

I am equally happy with the drip drip of news.

Whatever we do or have, the only thing Colin needs to do is make the market aware of what to expect.

The 16.40 trades and like magic we have a 800-900k buy on otc at exactly the same time, fancy that.
US continue to accumulate...

Just to cross reference the big trades, at the same time as the 1m trade, for example today, there was a 1m trade in the US OTC. It looks like a broker gathers the shares on the UK market and then a buyer in the US takes them up.

're OTC and PTHRF, if you exclude a really weird day last year, this year otc volume has been higher than any day last year..today for example is the second biggest volume otc day in the last 12 months. Volume today is 2.25m so far. Not mega volumes, but not far off a normal lse day.
A bit of hype and the OTC will be driving panr in the near future.

But Colin was probably get getting a bit fed up with him, as others have said he doesn't seem to have contributed jack, I've got a feeling it was a bit of company tidying before the company takes off and he was given the chance to resign or be fired by the end of the year.
He took on a new directorship a few months back up in scotland.

It would be nice for Colin to expand the bod a bit now, beef it up etc...but all in totally meaningless for shareholders.

The auctions tend to happen when level 3 is busy and the market makers are trying to fill them. It tends to require both bid and ask orders.
We've seen a fair bit of selling at this level in the past (whatever folks think the reasons for this are). What we now seem to have is some larger bids that have showed up on level 3 and the market makers are pushing to fill.
Tb h the auctions were not very successful today with low-key volumes.

're level 3, it's the actual amounts the market makers have on the book (not the nms) and large scale broker orders. They are viewable on massive terminals such as Bloomberg with access at a cost of 5 figures generally.

Howezap, a mineral resource esitmate must be JORC compliant, if we are ever to learn what it is. As Colin has said in the past, the company can do internal estimates, but they cannot be released or talked about to investors unless they are JORC or MT compliant.
Personally I can't see the point of not releasing a JORC and would be speechless if he didn't produce one, even to inferred standard.

As everybody has said, a good NY interview.
It had the clear point of not adding any new news (which i liked), but simply giving an overview of 2021 and then some ball park timeframes and figures for 2022.
I am glad the drillers are having a break (they've earnt it).

So Africa - very much on tract as per the empress update, the figures he quoted for income were good *I would take less than that as a success tbh. It will be really interesting when we get our H1 results for 2022 and a breakdown for each area.
He was a little wooly on thinks like Eureka (i.e no mention of new drilling, or firm date on production, but it sounded like it would be Q1).

Re Bushranger - 38-39 being drilled (from memory). Looking at the latest 20th Dec drill map, the two drills from 38's pad could be the best yet for XTR. Talk of the extra porphyry, Still IMO, the one to the east of Ascot, that showed on the 33 logs.
It looks like the drill program will finish in Jan, imoi, to give time for all the data(assays etc) to be included in the model for the April Easter timeframe (nice to see that confirmed).

Completely agree re JV, as per my GGP post re Newcrest, the smaller party in a JV is normally shafted to a greater or lesser degree.
The strategy of prove up as much as possible, then sell, is probably not going to maximise everything, but it will add so much value to what we are worth, I am not sure most will care much unless they are buying in at 10-15-20p.

I don't agree with everything he said, but a very good nuts and bolts interview which shows we are massively undervalued and punching well above our weight with our exploration in Australia.

I've seen a NYE RNS double a share price before, but it's got to be very very good to cut through.
If it's just good I hope he leaves it until Wed next week (Tuesday will be manic with RNS 's.)
Marshall see,but a nice way to end the year, regardless :)

Agree steve, ggp have a wall of reality now in their front view, with the 5% valuation, which won't go well.. newcrest have entered their strategy phase and played a blinder (although obvious), throw in a low FS, watch the Sp sink from the 20-30p highs, ask for a n independent valuation (and we know what valmin valuations can be like) for the 5%.
Watch the sp fall further then put in a cheap offer.
It's been played out many a time by the majors and is the reason why a minority holding is always valued less than a major holding.
Colin is absolutely right to want to sell the whole of bushranger, once we've added all the value.
Rather than jam today, it's more akin to a whole box of jam tomorrow.

Thank goodness we have fantastic exploration of new tArgets such as Ascot. I see the results from the GGP\Newcrest Jv today which are fantastically bad. So Newcrest and any majors can disappear until we've at least understood what we have with Ascot etc.

It's still worth bearing in mind it's 130m of commercial mineralization all in the open pit, so its all just added copper with the same extraction costs.
It's just not the wow we've been use to. I'll take the occasional mediocre hole...

Not the best by a Country mile, still a reasonable extension, even if it did happen to hit it quite far down and in a narrower area.
I don't buy the gold really, it's more an attempt to put about of gloss on it.
If I am thinking outside the box , as there can't be just one assay in,after all this time, it's a case of getting the single mediocre set of assays out so the next set of 17-18 is solidly good to very good.

Christmas liquidity and omicron don't make good partners. Anglo is to n 3.5%, in the previous metals sector there isn't a single blue stock ((as I type this).
Only a hand full of blue out of the hundred of so miners.
Throw in a couple of small sells into the low volume and you get this...

It will recover just as quick though