Member Info for theiceberg

We might need more depending on one of two rigs for the infilling.
I am open to the African income, but don't know enough about it tbh. If it easily covers it then great, but I am happy to have various possibilities...
Personally I just think an asx listing would be very beneficial.

Facevalue, a valid question and as per my blog imo more funds are needed although we are talking about next half year . However I think it's unlikely it will be from an aim placing.

My strong strong suggestion ,something I would push all my might for if I had Colin s ear, would be an asx listing, with associated asx placing. To raise enough money for bushranger and general license exploration. None of these shares would hit LSE and the Aussies go quite insane for home mining companies, particularly imo for something like this, lots of exposure and it would push London up with it....

If folks are interested...as always just my views.. I haven't sold any and will likely buy at weak points through the year.
http://icebergshares.blogspot.com/2021/03/xtract-resources-bushranger-hole-1-920m.html?m=1

It doesn’t need to be in the top 20.
Although it will be the second biggest easily for that area.
It just needs to be cheap and profitable

0.3 is good because of the continuity of grade. There is literally a km of the stuff. So you get really big trucks, a plant with a high tpa and then just feed it through for a 20 years. No problems no hastle. No yearly weAther events just 365 days a year processing producing a known quality and quantity of copper.

I am actually invested in lundin. But the probably here is dilution....the commitments are huge and lundin will own the majority of it and take any profits, which is why it's not valued more.

Wow, I've just looked at the quoted dsm. It s everything that xtr isnt.
I.e the middle of nowhere, hardly any infrastructure, the company describes it as tier 1 (which would be illegal in the uk). Smaller more varied intercepts. All with the risk of africa. A terrible IRR. The list of negatives is endless.
I wouldnt put 50p in the company tbh.
People often assume that grade is all important...it's said by many ceos but it's wrong...what's important is how much money can be made from it and the risk of doing it.

Now 15%, mms just arnt getting shares...

Whether the market recognises this RNS is another matter, but publications like mining AFR etc should now pick up with the assays results.

I was thinking that at 2am in the morning a couple of nights ago. The drill sites have been on edge of the plantation, which makes sense as you don't want to involve the extra cost of compensation 're plantation destruction of you don't know what it will be like, so your limited by your approved planning consent. However the mineralization now clearly extends under there and is massive. So stage 2 will require a new drilling consent ....which will be obtained pretty easy. There isn't much else they can do drill wise apart from infill until they have this.
(This is a good thing as it shows how much larger is it)

Just to put to bed any niggling doubts folks might have 're (this hole went down the sweet spot etc etc).
This was a 1 km straight hole. The intrusion is about 50m or so and then has a high grade outer halo, that extends 50-100m. Inside the intrusion grades will be lower but still economical, outside the HG hall grades will be lower but still economical.
The intrusion will be almost stream/river shaped with small bends, as it was fluid filled and created and that's how these things are. Because of that the drill will very unlikely have travelled just down the high grade section. It's probably gone in and out of all the areas as it went down. After the down plunge at 400-500m it probably spent most of its time out of the high grade area. This is far from as good as it gets, imo the extension drills will find heft y sections of higher mineralization and for those that want it maybe even gold.

We know from the AA geology work that there are two porphyries, this is largely the results of just the first porphyry that has been extended with commercial grades to 1 km.....

This is just hole 1......

It's all about the copper.
intersection of 920m @ 0.3% Cu,
A few points of note.
The results compared well with the xrf, with additional mineralization found as well.
This is comparable with Rio Tintos winu and now we have the results looks to be the second largest copper play in that region of australia.
A few will be disappointed by the gold values, this isn't a problem. I've been consistent in saying that I never expected much gold and I thought the comment from the in-house geologist of a reduced copper play was wrong. There are quite a few low grade copper low grade gold medium sized deposit in th region and they struggle because they don't have a main mineral.

Imo this will be developed as a single copper play, very low cap ex costs associated with a single mineral extraction, all from surface, massive and as I said a few weeks ago, the conformity of grade is fantastic, it allows a company to plan and fulfil overtake orders knowing that year after year it will produced consistent amounts of copper.

An excellent copper project which will be snapped up in possibly the single easiest place to mine in the world.

What is this madness, xtr now blue and maybe going back to the 7s...well I never...

Should be 400-450m.

All six market makers minus the house broker are all sat on the bid at 6.5 and ask at 7p respectively, normally it's a news sign.

It might be more imminent than folks think watch out today!!!!

Cheers. Nice to know it's appreciated.

There really isn't much to add atm, I was tempted to put some of the money from 88e into here, but I want to see the assays first, which is probably the case with a few people.
I have little doubt we will get the .2 -.25 copper minimum at decent lengths and what I am sure will be highly variable gold grades.
I am also sure it will take the Aussie geologists a couple of days to decide how best how to show the results, maybe prepare graphics etc. But tomorrow onwards looks good.
All the while we are drilling a further extension to give us xxx,xxx more tonnes of copper :)

Agree 're the rainbow chasers, rather than looking for the things that will be big, they jump into the things already over brought...
They don't seem to grasp the concept of buying in early and then waiting a few days or weeks to really maximise profits and minimise losses...