Member Info for theiceberg

Cela..
Prominent hill, the 5th largest copper mine in Australia, produces 61kt of copper a year. Even at 2 Mt, that would be enough for over 30 years.
Even the largest copper mine in the Australia only produces something like 170kt. Which again our license could do for 11-12 years of we get 2MT.
That idea that we need 3-4mt - enough to be the biggest copper mine in Australia for a couple of decades is not right.

Don't get me wrong I would love that much, but anything over 1mt would be a massive copper project, powering several decades at a respectable 30kt a year. Even at today's copper price that would generate nearly a quarter a billion a year in revenue.

We 100% have far more than this last scenario. The value for xtr must be more than the 10-20m that it's currently got on our mcap.

I don’t think your get a response - not because they don’t want to, but because they probably can’t. It’s rare to get commercial contract details confirmed in writing. Unless the answer is looked over by a lawyer it opens up a can on potential worms for the company.

Some strange comments below...
I've only read the RNS to me it looks very good (they don't always i promise).
We've tied off Bushranger (by my calculations it will come in at around 1.5-1.6mt CUEQ)
We have finished drilling on Ascot for now, which is enough to give us something like 300-600mt CUEQ - the drilling isn't as extensive and we need to know the assay results.
There is rightly a focus on the 2MT - however their is no doubt now that we have two of the bigger copper-gold projects on the Fold, all in the same license. Combined they are of national size and importance for Australia.
all of this is pretty much 18 months of drilling-exploration.
Looking in more detail, Colin seems particularly impressed with the deeper Ascot drill. He's tried to play down expectation in visuals recently and we could have something special there.
With no need to raise money - lots of gold income, with the JORC's on the board, there is little doubt column inches will be forthcoming. With everthing that XTR has on such a small budget and team, I still remain firmly convinced its significantly undervalued. Whatever the price is in this well below par market.

It’s recovered something like $500 in the last week. It looks like speculators moving in to me. Particularly with signs that the US will now sign the climate change bill after the Virginian senator s uturn and Europe and China are set to March towards electrification.

Just a guess and my opinion.
But for phase 3 i would like to see
6x500m at footrot.
9x 300m at the shallow gold in hole 37 (of whatever it was). Neither Ascot or RC.
8x800m at ascot (although this is unknown as we haven't had the deeper results back.)
Given 2 rigs it's probably 3-4 months of drilling then a 2 month lag for assays, so a delay of six months.
All paid for from good revenue.
Tb h the SP would be higher with the jorc for RC under the belt as well as the economics of a simple open pit. We will also have evidence of the gold income streams (sp 6-8p) everyone happy!

Nice short sweet and contained.

Pretty pathetic tbh. I decided to try and buy some this morning and I was only able to get 2 smallish buys. 2700 and 3400 before they said no and raised the ask.
Realistically you can only buy if somebody sells a chunk first.

"The potential development of two large and separate oil fields sitting on top of each other, the SMD and Alkaid Anomaly respectively, utilising the same production infrastructure on the Dalton Highway with near term production opportunity, is rare and very exciting."
"material upgrade of both the current Alkaid and SMD resources."

The SMD coming in at over 270ft in this location is a massive upgrade.this is something like 15 miles from theta and talitha. The SMD has an NPV of 5bn or so at current prices. At Alkaid 2, it probably shouldn't have been more than a visible layer, maybe 100ft or so we must see a material upgrade to the neArly 3bn barrels oip.

Bang on time and a cracking rns.

Smd bigger and better than expected and could well be accessible from the highway.
Alkaid bigger and better than expected.
Alkaid deep, bigger and better and they still haven't got the bottom.

Over 14000ft of oil with better reservoir than expected.

phase 2 is finished!

We are obviously still awaiting Ascot, but maybe not too long for the Racecourse model, given that they have rushed through the assays for the final few holes. Some good gold as well. The gold does seem to get better the further south over Bushranger we go. Just the big reveal left!

Re copper and gold price. I tend to agree with Colin. Sept maybe oct will see some recovery of commodity prices. I do think that China will be buying again. Importantly I think that speculators will move in.
The market will be in wish away a recession mood.
Then it will come back to bite as we move into January. It will be an interesting short lived aim exploration bonanza. I hope folks make hay while it goes well and close down positions in risky stocks.
Given this, from now till September we might see some big low volume movements in some shares. There is just a sign of some bounce returning.

At least imo. - but feel free to ignore as it’s all just pointless speculation :)

I know that panr run a very tight professional ship...that's the way I like it personally.
However, normally panr drills in the winter, it's very easy to control communications when your in the middle of nowhere and it's -40 outside.
This time they are drilling just off the main highway, staff will be coming and going at a much greater rate. I have No doubt that busy body drivers will be on the CB radios discussing what is probably the only thing of interest for 100 miles.

So I do wonder whether Panr will even be able to run a tight ship?
Since we are there or there abouts hitting the main zone, will anything leak?

I am not accusing anybody, or even suggesting it WILL happen, but the risks are obviously much higher...

I've got the end of next week for TD, with smd today tomorrow. Of course we don't know how deep we will go...
But we all agree that the next 10 days will be key.
I am not too bothered about the lateral, if we ve got the oil and the conditions it should be fine..
I am very very interested in the SMD, imo its massive if the SMD can be accessed closer to the road.

N2M

The difference might also be down to terminology. Xtr has a contractual minimum commercial tpa. This will be lower than the full commercial tpa that empress are refering to. Colin often quoted figures, which I believe, are the minimum contract figures.
Maybe another way of putting it is mmp might have agreed a min of 150tpd to colin in order to get the contact to mine. They will make this figure by the end of aug. However full commercial production is 250tpd which they hope to ramp upto by dec. Maybe?

Finally, I know some folks have been waiting for this for years, but at last gold is being produced. !omg with the alluvials , xtr now has two gold revenues contributing £500k-£1m a month from say sept. Neither of which are reflected in the SP imo.
You really can't go wrong at this share price.

I was asked why folks are negative about that share. I replied. There are 50 maybe 100 companies that are equally as full of BS. I have neither the time or care enough to report them.
I don't give a Scooby whether you believe me.

Chris, 88e is probably the easiest share on the lse to trade. That isn’t the point. The point is that the lse only exists if it’s rules exist. 88e is bending every rule and in many folks opinion breaking them in half. It allows many of the bottom feeders across share forums to promise and say things which in any other setting would be fraud.
It tarnishes every other share.
The folks pumping it take advantage of people with little to no experience. They do this in the full knowledge that they are selling a pile of …. Again this is fraud; it is illegal. Some people (although less it seems) have a sense of right and wrong.
There is a false narrative that anything goes re aim. This isn’t true it’s what folks say to justify their actions. If your good at share investing you can easily make money on exploration and resource shares without resorting to law breaking.
So simply, it is these reasons why people are so negative about 88e. At least imo.

Received its first income from Tahuehueto today. Tahuehueto went into pre production a month before manica. Obviously they are different projects with different methods, but it's probably not unreasonable that they will get manica income in 4 weeks time. That will be roughly 2 months from pre start. Hopefully xtr will start to get income from next month.

It's quite heavy, but this is a very recent nature article about the formation of PCDs (porphyry copper deposits).

https://www.nature.com/articles/s43247-022-00440-7

It's not overly relevant to our area of the fold - although it does include subduction magna creators.
In general it's talking about the use of monte carlo simulations to determine ideal creation scenarios for PCDs. That the way the chambers and intrusions are developed then go on to impact the cooling and hence the mineral make up of the intrusions and alterations. Essentially slow formations with lots of magma, beat hands down, faster more violent eruptions. (I would classify ourselves as a slower formation as we were pushed up ahead of a slowly advancing sub duction zone.)
What's more important imo, is that the science and our understanding of PCDs is still advancing massively year on year, certainly from when Anglo were exploring BR 7-8 years ago. I think I posted last year about a phd vacancy at reading uni, concerning understanding how alteration actually occurred particularly the zone size.

Our understanding of geology is really quite shocking whether it's micro, such as understanding the moveability of oil in a column or chemical changes due to acidic alteration of leached intrusions, through to macro plate changes and timings such as the lachlan fold formation.
Maybe a takeaway from this is to beware of AIM\ASX\TSX exploration companies who don't have access to geologists that are up with modern theories. Some companies get lucky, some really do have very good geologists on tap. Also to be weary of IP and geo interpretation work unless you know who has done it!

Why would you want to release anything half decent in this market?

Like others, I’ve seen a fair amount of largish trades going through. They could be normal boys and girls from these forums., but they might also be somebody with a few more shares offloading. The broker and or Colin should he watching the share register. If Colin sees somebody offloading from an account with a decent amount of shares, he might well decide to wait with news until they’ve finished. I know quite a few ceos who would/have done this

If you look at the likes of bhp and Anglo, they have fallen by 30% recently. It’s hardly a surprise if small cap aim companies like xtr (and most others) have fallen by 40-50%.
It has nothing to do with the projects nor the company imo.