Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
Worth remembering our technical manager agreed to be paid in tranches of options with a strike price of 12p. As an expert in mineral sands one would assume he has an idea of how to value a company such as ours and therefore an expert witness for upside potential here.
Colin states and believes we could have a multi porphyry asset per name dropping Cadia, Boda etc . Colin also stated previously and in multiple interviews that 2mt and decision to mine were coincident before the latest revelations of gold at ascott. I believe we have now diverged, the catalyst being the recent assays from ascott, and contained copper not being the best way to trigger a buy out of what could be a potential multi porphyry district. In my view you then either play the decision to mine defensively if you want to avoid having AA as a partner or aggressively if you want to keep them.. just some thoughts.
IB, I actually wondered if the burst of positivity and information a few months back in the interviews i.e. the 'not death of 1000 lashes' interviews might have been preparatory work for a raise but clearly Manica has convinced him not needed.
Covered good ground in just 15mins, the roast guys clearly keeping to a short sharp script. Convinced alot more happening in the background that cannot be said and therefore Colin keeping himself on a short leash.
Finally caught up with the interview having read folks comments first. First time Colin has stated near surface drilling programme, like infill, as a requirement. why? We talked here some time ago about getting a reasonable close distance drilling grid to feed into a jorc and Colin poo pooed it via an interview. Now he's talking about giving our buyer 6 or 7 years of higher grade material to process. I don't think this is something the XTR team would decide to do unilaterally, specially after Colin's comments about extrapolation of the existing drilling data, I think AA have stated it as a requirement. It's the only way in my mind I can rationalise this change of strategy. I just don't see it as something the XTR team would suddenly add at the end after Colin's comments about stopping drilling in May.
Iceberg, thats great if it comes to pass. Really don't want the co to get distracted by gold fever. Complete the model, close the pit boundary, trigger the buyback. Colin can hopefully explain next week how these extra holes are coincident with the objective. Noting several times he said this wouldn't be a death of thousand lashes i.e. I assumed holes.
Looks like Emma true to her word decided not to publicise the April gold pour. Shame as would have given us news hungry PIs an indication if we are on track. P.S added some shares into my SIPP today while things are quiet, small top up by you folks standards but most of my pension is in a defined benefit scheme.