Member Info for theiceberg

That's because since Christmas 2019, the ggp share price has been downhill as a general trend. It was stupidly priced and many folks were spiked, now they just exist in a massive group think fish tank. It's a good project with a lot of luck 're position to telfer. But the valuations are insane.

I think colins setting realistic expectations.
From memory it took a week to prepare hole 7 and send it off after hole 8 was sent off. So I'd expect hole 7 next week. Going forward it would make sense to give one RNS every two weeks which detailed the drilling and assays from that period. You simply can't keep issuing RNS every 3-4 days until the end of the year, the nomads don't allow it.

The talk was good if a little rambling at times,there was very little Colin could say except bushranger will be massive . He clearly view s it as his biggest project of his career.
It's frustrating that the market hasn't clicked quite how big this will be but it will and then people will buy in at 5p -7p 10p etc

A saw a few questions. This is just imo
Hole 17 is a test of the eastern side in an effort to extend it in a relatively barren area. Tbh anything with 17 would be good if it had 150m at .25cueq I would bite your hand off.
I think we need to bare in mind that hole 8 was the best hole ever for BR so it’s unlikely to be repeated too often.
Again imo but I am expecting holes to the Nw to be minimal anything here is good
I am expecting 7 to be slightly down on 8
I am also expecting a jorc of 2MT when phase 2 finishes, so if for example 7 isn’t quite as good and folks complain remember again just imo we arnt expecting it to be as good it, doesn’t have to be. If all the holes were on par with hole 8 this would be so big it would make the front page of the AFR!
I am looking forward to 10.12.13.14 and a a nice surprise with one or two extenders.

https://icebergshares.blogspot.com/2021/09/xtract-bushranger-hole-8-184m51cueq.html

Thanks to the folks that read it, as always its just my thoughts and reinforces my belief in the project. I am up to 30,000 views of the Bushranger articles so hopefully it helps in a small way.

Xtr is either the bigger climber or the second biggest today in its sector across the entire London stock exchange.
The small increase tells you everything you need to know about today's market.
Foundations and today's news still matters, as xtr is Without doubt the best copper gold company below 100m mcap.

We are also drilling 20 and 21 - so it looks like we are going straight onto phase 2 part 2!
Hole 8 is better than anything that Anglo drilled.

So initial thoughts from the description for hole 8 was 120m of their words good to strong mineralisation.
Hole 8 went pretty much across the main body, but aimed to add width.

What we got was 184m - A 50% increase on our own expectations (Well done for XTR to under promise and over deliver).
This was an increase of 50% or so from the existing body as well. All at the highest grades XTR have ever drilled at Bushranger.

On Top of that we have come across a zone of gold 100m beyond the main ore body. This is interesting, we know that the gold is sparse in the main body, but we know that gold is down there. If we can start to pin point a new gold body all in the existed planned open pit. Its essentially free gold.
The existence of the gold is interested as well, because i have a sneaky feeling that a 3rd and 4th ore body lies to the SE, these are older and will contain better gold, maybe much better.

But anyway highlights.
- best grades ever from XTR for Bushranger.
- 50% bigger intercept than expected.
- grades well well above the open pit cut off.

Yep, I've not commented since yesterday! Bugger make that today now.

Here's the , bigger than bushranger Colin talked about.

https://mobile.twitter.com/IcebergShares/status/1441127463585681408

Good to hear that Eureka will be blasting next week and then start shipping lorry loads
He also said 500MT for the Eureka open pit, even at 2% that’s 1mt of copper.

Thanks
Just to confirmed, again rather late last night, Empress have said that Manica is on track to complete Q4.
It is important to get this revenue, it's also important for Colin to confirm revenue from eureka this year.

There are some companies that have risen a lot , they have risen in conjunction with pumping by the placing gangs. If a company hasn't raised much in the last 6 months you might end up on a big loss.

from me. I think we all await the assays with baited breath.
https://icebergshares.blogspot.com/2021/09/xtract-resources-phase-2-at-bushranger.html

The picture adds so much..why oh why can't they just release an updated one for each RNS.!!
Anyway for this hole it show's that 17 is almost entirely outside the existing JORC, so all new mineralization .

IMO, there are a load of reasons for the Market not responding to the RNS.
1. The general market is still in flight or fight mode/Sell or hold, there are lots of concerns, from global growth, inflation, China, raw prices, supply etc etc. XTR is clearly affected hence only a hand full of trades.
2. The timing of the RNS release was pretty bad, the Market is still largely unaware.
3. Zero exposure or advertising from XTR, no diagrams, presentations, interviews, no variety in interviews etc. No broker coverage.
4. The market needs confirmation that the bulk extraction has started and how much money might be incoming from Eureka.
5. Their is little chance or talk of things like resource estimates, so its difficult for the Market to judge value.

XTR needs to to come up with something for the Market to realise and price in. Whether thats an agreement with a big company, income, estimate of tonnage (even an internal one).

Eureka is still massive IMO and at some point the market will twig.

The geology is quite similar to the chibuluma mine in Zambia, with the added bonus of an iocg instead of the multiple sites. Equally if it's not an iocg it's likely to be even more similar. The grades of 2-4% are pretty much the same as Zambias biggest tier 1 mines.

It categorically isn't a porphyry..that's why grades are much higher at 2-6%.
're size though being a finger porphyry, bushranger is longer and thinner, probably closer in shape to a large iocg .
Personally I would expect eureka to go down to 700-800m and have a length of a km of so. With the smaller blow out near the surface giving the historic open cast mine.

These are bigger better intercepts than anything the majors are looking at in Zambia at the moment.

Quick view by me.
22m @ 2.53% Cu from 7m depth, including 14m @ 3.71% Cu from 14m depth in vertical hole EX-023 sited 30m northwest of the historic shallow open pit.
It then expands out, still very shallow 21m @ 0.84% Cu from 38m depth in angled hole EX-014 sited 70m beyond the historic pit boundary.
All to give Very good expansion of the open pit.
Then:
A second, 'stratabound-style' of chalcopyrite mineralisation dipping at 45 degrees to the southwest has been confirmed by angled hole EX-025 which assayed 3.05% Cu over 3m from 149m depth (or 4.43% Cu over 2m). This is an extension of a mineral style first seen about 40m up-dip in hole EX-02 (4m @ 2.35% Cu, 0.53g/t Au).
This is a much deeper beast, with high grade mineralisation...It looks, from first sight, then the open pit so far, is the result of a vertically placed blow out from a deeper structure.
To be honest i can't see the main, deeper structure being anything but an IOCG. What they they have historically found is therefore just the visible outcrop.
As per the pictures on the website and my blog, the deeper extensions to the West/North West are unmistakable. Similar size and depth potential to bushranger, but grades of 2-6% rather than 0.2 to 0.6%.
What XTR must, must do is get that production from the high grade surface copper flowing!

This might catch a few off guard.
22m from only 7m!
A need to check out a few facts before I get to excited but there is deeper bigger giant herein Zambia.