Member Info for theiceberg

I am stuck in a carpark waiting for 20 mins. So thought I would post a few thoughts.

1. RC/Ascot. Still need to wait on Birds timings I am afraid. We will get there in the end.
2. Footrot. I’ve had a few looks at this. Basically not enough information. If it were my company I would find a good porphyry professor and pay him xxxk to write a 5-10 page report on it. You need to understand the timings of the fault creation and how the deeper rocks were both formed and displaced. It will almost certainly contain copper/gold imo but so much movement has take place it will be difficult to find without say 6-12 drills and trial and error.
3 new Zambia project. Looks good- but is very “bird” like. It could be a fantastic project with lots of potential, excellent grades and a good extension to LOM. However it could also be pretty worthless. We’ve been down the road of bulk samples etc etc with Eureka so until we get actual results and good info it’s difficult to say more. Some much needed independent analysis would be nice.
4 African gold projects. We need the magical/mythical profit in the bank figures for the market to get truely excited imo. Hopefully this isn’t far away. There are alot of side issues also effecting how the market is pricing it such as LOM - extensions- sulphide processing - mmp plans for it.

Overall not much is priced in with current commodity prices, “The bird effect”, however as the raw non disputable figures are released we should improve.

What advice has he given?
Are you saying that people who are knowledgeable shouldnt use these boards? That maybe they should be left to people who don’t know what they are talking about such as lou/Jim? People who never substantiate their thoughts or statements with evidence when asked. (I know this from first hand when he couldn’t name a single example of something he claimed was common).
Are you saying that people shouldn’t use fundamentals when trying to decide where to invest their money?

I think maybe you need to re read what you’ve written as it makes no sense.

Thank you. I’ve not re looked at these contracts for ages.
So at 1700 we have have 1000 profit
At 2000 it’s 1300 profit.

So the 15% increase in pog that we’ve had - gives us a 30% increase in profit. (Obviously very raw and simple)

With gold at say 2100 then that’s around £6m a year?
Then with hard rock (now that alluvials have finished at say 750k a quarter 3m a year.
Would I be right in finally expecting £8m - 9m this year?

Re BR-Ascot. My assumption is that they are still trying to find the best npv figure and solution. No point scaring the market until you know what the options are. Tbh, I’ve given up believing what Colin says.

For the MMP contract don’t we get x above the price of 1550. (From memory). Basically the contract is along the lines of guaranteed profit for empress. Guaranteed for mmp then we get get the risk portion essentially if the price is above xxxx?

I could easily be getting confused though.

I have been re-investing some funds in here. (finished today).

I still think Colin is a liability, but the price of Gold and the ending of alluvials(which cost almost as much as they made) are both important triggers.
The MMP contract massively rewards us for the Gold Price. (at 1700 we get not a great amount, at 2000 or 2100 we get much much more 200-300% more).
Anyway I won't be posting much, but thought i would say when I brought a few back.

Not much time and as you say not much to actually say.

I am looking with interest particularly with the current gold price.

Okay. I take it you can’t back up your statement then.(despite probably spending a few hours trying to find an example).
Nice to know. I thought you were full of it, but it’s always nice to have first hand proof.

Don’t both replying with some pathetic attempt of denial or gaslighting or plain insults. You had a chance you back up your claim and can’t.
There is NO example of SLB having created the data then opened a data room for a company with nothing of worth. Their reputation would be worth zero if they kept doing this, instead of being industry leaders.

Bye

Still waiting.
Come on I am giving you the chance. You’ve said there are lots of examples. You’ve even got google to help you.
I barely use LSE now, but you’re on here everyday.
Are you full of @@@@ or do you actually know what your talking about?

If there's plenty.....please name one where slb have prepared the data and ran the data room.

I'll wait.

Glad to know that SLB, having done the data modelling, helped panr prepare for the data room, hosted the data room, and then invited clients to assess it are doing so without any come back on themselves.

Wish I could work for a client like that. Unfortunately, when a firm prepares for a project (such as Accenture and the nhs contact) they are normally getting well and truely shafted if the project goes wrong -whether it’s their fault or not.

So if SLB can avoid any DD on its client - prepare the data, invite and present to clients all without any side effect. I hope they let others in on the secret.

Brom.

The digital platform is simply a glorified cloud based access point with industry specific software allowing modelling and what-if scenario based planning.
The cost of this will he pretty minimal.
The value added is the SLB involvement. They would not be fronting and supporting a data room if they thought the data inside was suspect in anyway.
I have no doubt that SLB would turn down the money from 90% of AIM oil companies to do this. They would be happy to drill or write reports for them but nothing that influences SLBs reputation.

Are they doing for free, no of course not. But they are fronting it and opening up their little black book of contacts.

I am happy to name mine. Barcap - JP Morgan - Barclays Corporate and Accenture (consultant specialism in investment banking.) AVP

Specialism. Risk and exposure management - liquidity and regulatory reporting.

I am more than happy to say on record that you’re an idiot and I fully agree with scot and believe him to be in Inv banking.

Just for clarity I said “ We don’t know yet whether it will be economically viable, however I think it should be.”

https://icebergshares.blogspot.com/2022/11/xtr-jorc.html

Investing100,

The point, imo is that he’s put everything out there, precisely so that people can do what they want with it. They can change the capex, opex etc and anybody who reads these forums can do that and say why they come up with.
I think the capex sounds way too high imo. I will post a bit later in the next 24 hrs or so as to why I think Steve’s work is a little wrong.
Ntm the issue is Colin saying that people who have sold shouldn’t be critical. Everybody-anybody can have a say. The issue is whether what they say is true or not. If they provide sound reasoning then I welcome criticism and Colin should to.
There is also the bigger issue that Colin has surrounded himself and xtr with yes men. There is no IOD. No real nomad or broker questioning. No presentations for people to question his reasoning. There is nothing. If he thinks he can or should comment on anybody questioning him on a public BB, he’s acting in a way which stifles his position ie a dictator.
The other famous aim charecter that did this was David Lenigas, who tbh belong in jail.

To add a good chairman would say he was sorry that a serious loyal investor has sold up. Then have the knowledge to take on the comments and provide a sensible argument as to why it was wrong and what xtract has achieved.

Colin is talking BS. I don’t 100% support Steve’s conclusions but he has every right to say what he wants and has worked bloody hard on that research. Harder maybe than Colin has worked on xtr in the past 3 months!
Just imo, but for a chairman to talk like that is outrageous. He needs to step down and help with a succession plan for a ceo.

I posted on here last week that I’d sold some previously!
As I’ve said to others privately, I am snowed under which is why I’ve barely posted on lse over the last 3 months or so. Not much research and no blogs.
I didn’t even know it had fallen today tbh.
Anyway just a quick post and I will go quiet again.
Btw if anybody wants to check posts, just search a members name.

What a difference between 500@,2cueq and 600@.3cueq.......
I actually think it's quite reasonable. It's a lot of copper, nice higher grade at the top for an irr that's decent, then move into ascot get that higher grade , finally if economics allow dig dirty to get the lower grade stuff.

The main annoyance, is how long he s taken to put this out. He obviously considers it not great but it should have been out 3 months ago! He's essentially just put the company on care and maintenance.
Anyway I did sell some (not because of the projects -purely down to lack of confidence in colin) but hope we will get back to a decent price.
Bottom line is 1 million tonnes of copper in an easily accessible, mining friendly location, in the most mining friendly country. Add enough 300m tonnes with ascot and it's got to be worth more than the current market cap.

There is no such document and I believe that to be significant imo.
They have taken a punt, nothing more and don’t have any information to back it up. Tbf it’s a punt that would work with 80% of oil explorers but panr isn’t in the 80% of explorers.