Member Info for Xenor

Fair point @Arthuretta. Although most of us were surely expecting hawkish comments. Looks like we've got a tough year ahead for the markets, although at some point they will have to price in the 2024 recovery if markets are indeed forward looking.

Yeah no doubt investors will be surprised that they are raising rates whilst everyone else will be expecting it.

A lot of stocks were down first thing due to the FED interest rate hike. Seems I was wrong that the markets had priced in a 0.75% hike that everyone was expecting. Seems everyone except investors expected it. Hence the panic sell off this morning. Some are recovering though which is nice.

I thought the markets had already priced in a rate rise, hence the drop last week.

We got a few million from Riverfort but that arrangement was cancelled when the NewGen loan came in. It can no longer be used.

Shorting here was never a good idea. With the state of the economy there have been and still are far better shorting opportunities elsewhere.

He was posting relentlessly negative stuff between 7-8am. I suspect he wasn't expecting the RNSs to arrive today and got caught out on the short. Went quiet after 8am so he probably got out on the bell without too much damage.

I was tempted to sell at 79 yesterday and buy back lower but I thought we'd see the 80s first after that news. Maybe shouldn't have been so greedy.

You sound like someone who is worried about a short.

I think the mine is profitable at the current copper price but the high speed of development on top of that is not. This has led to a shortfall for projects such as the ore sorter.

The RNS was worded terribly and I'm not surprised the share price collapsed, but I think it has been oversold. The mine is in a much better position than the last time they made an RNS like this.

They need to pht a halt to development for the next 6 months and get the ore sorter built as a priority. They need to refinance the debt and borrow more. They hinted at doing this earlier in the year already.

I went to Spoons last week and ordered a large mixed grill. Came with one sausage instead of two, and no fried egg. The steak was flat as a pancake and half burnt. On my previous visit at a different Spoons my meal came without the onion rings.

It seems Spoons are raising prices and cutting back on food to save costs. The quality of their meals has gone way down and they weren't even good quality to begin with. I won't be going there again for a meal, rather go out less often but for better quality.

As for the share price, it is starting to look cheap and I agree it will survive.

"I'm now wondering whether the world should gift Ukraine to Russia."

Don't let money get the better of you. That would be a terrible thing to do.

I do however believe this war will only end in a diplomatic compromise. Ukraine will have to give up some territory to make Russia happy to withdraw. Russia isn't going to just pull out with nothing, they are happy to continue for years if necessary and are enjoying the economic misery it is inflicting on Europe. Likewise Ukraine aren't going to succeed in pushing Russia out. But no doubt it will take world leaders a few years to reach this conclusion.

"Realistically, despite the soap opera between both camps here, there may be some catch-up in the wider market to falls in the US and Asian markets after Jerome Powell, Chairman of the US Central Bank, said it would continue to raise interest rates to tackle soaring prices. "

Sometimes I question the intelligence of investors. I mean, did anyone seriously expect the FED to not raise interest rates further? Why is this news suddenly a panic sell event?

"The re-rate won't occur until we get costs and Q3 production results to put with them"

You say that like it's a problem. Most of us are planning to be here longer than the next two months. I do agree completely with that statement, but to me that's fine.

I'll be happy when we're back in the 30s.

Maybe COPL will get bought out o the cheap by a bigger fish just like when COPL bought Atomic and CUDA.

As I said the other day, they will convert the lot one tranche after the other until either the debt is changed or there are none left. Most likely dumping them too, hence the drop.

G, they never promised 600 tonne months each month. They promised 7000 tonnes for the year. 7000 is about 25% less than this mine is capable of so it doesn't take a genius to calculate that they will be under average (7000/12) whilst ramping up the mine and above average later in the year. Is it any wonder we hit that average in the middle of the year?

It was only ramping PIs that were expecting 7000/12 for every month of the year and then panicking when we didn't get it. No doubt the same people buying a week before the report and selling on the news, then complaining to get a cheaper entry for the following month. This share has been played like a fiddle by traders.

Right, so you don't think traders sell on news? Show me a monthly report that has led to an increase in share price after the RNS, rather than right before it. This is how the market works... buy low, sell high. This share has been a trader's dream for the past year precisely due to these reports.

Every post you've made for the past month has been banging on about the BOD's decision to switch back to quarterly reporting. It's time to accept that's how it will be and if you don't like it and don't trust the BOD to deliver then why are you here?

Most of us are now confident with the mine progress. The worry recently has purely been down to the trajectory of copper.

Despite them not hitting the production targets during H1 (other than June) we all saw the progress of getting there and see no reason not to believe them on the 7000 tone target.

I'm honestly sick of hearing about monthly reports. They aren't coming back and it's probably a good thing. They could drop a monthly report tomorrow announcing 700 tonnes and we'd be back under 20p by next Friday.