Member Info for theiceberg

My honest opinion is a bit "Meh".
My biggest trip with xtr is it's management structure and how independent the BOD are, how the secret ary is placed, essentially the corporate governance. And this appointment only adds to that...the positive side is that he's an experienced chap
TBH I don't think it really matters.

Maybe, personally it looks like 12 was an extension drill of just the western lobe.

I've been out all day today and just got back to the RNS. What a cracking RNS.
Finally confirmation that they have started to drill completely new geo territory. (Hurrah!)
Also the expected news about assays results (Yet again proving that as far as humanly possible , Mr Bird is keeping to promised deadlines).
But also the expansion of the existing resources in the open pit. AA rarely went more than 300m in their drilling, so any strong mineralised at depths greater than this, is likely to add value IMO. (I think its unlikely that XTR would happen to drill at depth in the few places where AA did).
More talk about east and west zones, but also the first indication that these are different mineralised zones and NOT just different sides of the intrusion.
After proving up some decent known extensions, we are now after the completely new major stuff. Maybe time to buy again.:)

I've seen maybe 4 or 5 of these cycles now on AIM. The market reacts in the same way each time (loss of liquidity). This started maybe April time it's always worse in summer and always picks up in september, probably before a big fall again next year.
Just my opinion.

We've got two diamond drills, whirling away, proving up a billion plus NPV GOLD-COPPER open pit in Australia.
We've got assays pending on Eureka, which will show a sizable open pit with processing to start shortly (NO DFS etc required)
Maybe other AFRICAN incomes (if the likes of Empress are to be believed).

Possible the results of the Chinese Guy Fawkes exploration.

But mainly we have the current exploration of one of the biggest copper-gold open pit exploration projects in Australia.

This is untitled as, to be honest, I can't think of another way of saying how lucky we are as a company!
The market will do, what it will do, particularly with low volume. Personally I think September will be incredible for XTR
Now back to the rest of the summer hols.

I know sarcasm is hard to get on the internet. Tell me this is sarcasm please as this is probably the lowest liquidity day xtr has had this year, with 10 small sells!

It wasn't a great interview.
4-5 weeks for first assays, so 3 week in September ish.
Waiting on assays for eureka still, half a million tonnes there.
Production from Africa at 500k or so a month soon.
Chinese doing well at guy fawkes.

Mainly happy that we are still on for September for first assays.

Obvious great news that any pseudo uncertainty wrt to the license as now vanished.
Also good news that 9 and 10 have finished and we are on the next two holes. (4 holes down now)

The length of Chalcopyrite seems massive...

However I am confused as to the eastern flank - western flank stuff. I thought one hole was virtually straight down?
A diagram really is needed to see whether this is just very good solid progress or mind bending mega results.

drill 11 or 12 might be into the new western lob....I am not sure.
Regardless the drills suggest a massive chunk of the open pit contains chalco - the only really think to find out is whether the grade is above .15 and can add to the cut off, but it seems promising.

Tbf I don't really care about whether Africa production is end of Aug or end of nov. Obviously the earlier the better, but it's not like Colin has been big ing it up, he's not really expressed any personal guidance just what he's been told, which is the same as empress. Empress have only just switched to Q4 so I would expect Colin to simply update us in the next African update.
I would also expect Colin to really ramp up Africa 4-6 weeks before production starts.

Like others I would like more diagrams 're BR drills,but the first four holes are from 2 pads anyway.
If they have started holes 5 and 6 with the next update, then positions for these holes would be handy. From memory, they are a bit further out so the next update should be interesting!.

I think tomorrow morning is likely as well. Again I would be surprised if hole 10 is much longer. I make it 700-800m at a steep angle it must be at pit bottom and a bit beyond.
Hole 9 should already be at 500-550m so maybe hold fire on 10 news until we’d/thurs and report it will 9?
Either way things are still going very well.

Deliberate movement today to force some liquidity in the market. It's been very very low recently.the market makers won't like that as it increases their risk.

It makes sense for him to step down from the box and concentrate as a project manager on something as major as Bushranger.
It must also be difficult with Aussies strict entry and exit rules with a BOD mainly in the UK. I don't he s actually seen the Rest of them face to face for 18 months...
I wonder who the new non exec will be.....

Colin's done well, whether by design or luck, to time the assays and major expansion drills for September when the market should pick up volume and folks are back from their holidays.

As an aside, the share price is now at a high since May, not bad for a small amount of buying. We should do well from here to the placing price.

This isn't a promise of even a likelyhood,just a speculative opinion.
There is talk of two sides of the intrusion (saddle). We know that waves of intrusion forcing occured.I still believe it looks like the earlier intrusions imprinted better mineralisation, whereas later intrusion waves were heavier but contained less mineralization. The later intrusions were high pressure and probably sourced and directioned in somaway by the fault..
If they are finding evidence of multiple intrusions waves (porphyry make up)then the chances increase of better earlier waves stillexisting with, and I say this with a guarded breath, maybe better gold....

I really am happy with the drilling to date :)

Despite the hole depth, the shallowish dip of the hole means that ALL the hole would have been in the open pit. We are not talking about 850m true depth. (probably 500m true depth).
I've got a feeling they have learnt from phase 1, that you dont over promise with the visuals and under deliver with the assays. Now it should be under promise with the visuals and over delivery with the assays..particularly if they are only 5-6 weeks away.

Bang on 850m, importantly "Multiple porphyry units were encountered in the hole" and a good strike length of strong mineralisation.
Multi is really interesting and I have no doubt its the reason they continued to drill. So probably more than 2 porphyry intrusions with different rock mineralisation types. There is always the chance that they have hit the earlier, heavy gold one....very interesting indeed.

I think he clearly said its still on going in the interview, but...Also that its gone further than expected.
Lucky, we are not customers, most of us own a small percent of a company, which cannot just give somebody a ring ever few hours to let them know what's happening. No company does this.
Could communication be better, yes, but it could with any and every company on AIM. Even big massive companies on LSE only get updates every 3 months most of the time. Even mining giants like BHP and RIO don't always keep investors upto date on their major projects, outside of half year and EOY updates.
We have to except we get quite a bit of information when we can here. Certainly with bushranger we've had loads of info, far more than 90% of companies give IMO.

Can't really be drilling surely?
It would be close to 850m ......there must be an intraday rns .....

So the premise is to concentrate on adding value to the open pit by finding more resources...updating the geological model is now secondary as they feel they have a good understanding.
The company have said that the drills will be drilled to 600m just like the second hole has been drilled to 600m.
The first two holes were drilled from next to each other pretty much Br 7 and 8.
The second hole Br8 had lighter mineralization from 170-560, with a ,zone of heavy mineralization 260-380m. It had no mineralization from 580m.
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So it's really strange that the first hole is now at 700-750m? If it's not in what they think is value adding mineralization then why break their 600m on the very first hole?
If it is in value adding mineralization then you would have assumed that started at a similar depth to hole 2(300m).
These drills are nowhere near the deep holes from the first phase of drilling and are not meant to be drilling down dip.
Personally I can't wait for this hole to finish......it's probably gone to a greater depth than Anglo went in that area....