Member Info for Xenor

Most of us are optimistic. People like Moon and Antharry wouldn't be happy if we were digging up tonnes of gold bullion. Just here to troll.

There were a few large sells today that hammered the share price. Maybe a larger holder wanted out. Maybe we would have dropped regardless of what the news was today as this person waited for the news. All guessing.

The macro economic situation is clearly scaring a lot of people. It's a tough market. Hopefully people see the buying opportunity down here. Last time we were at these levels the company was struggling to get finance sorted, dilution was a big risk and we had one producing stope. The market makes no sense.

Who wants to bet that Moon sold today?

The BOD will do what's best for the mine without caring about the short term share price. If they hit their 7000 target production for the year does it matter how they get there? The reason for the lower than expected output in April was made clear.

Just did some figures, at 1350tpd. Even the same grade 1.46 brings us to 592 tonnes for May, which is a significant improvement on its own. And grade is stated to improve. They can't disappoint with the next set of results.

The grades are the main reason for these numbers being below the 500-550 we'd hoped for.

I was expecting around a 10% increase in grades. We had a 10% decrease. That's a difference of about 90 tonnes right there. That alone would have taken us to 500.

The grades need to significantly improve as we are aiming for 2%. I'm confident this will happen once they're mining higher grade ore. Still disappointed with the 413 figure though.

I won't be selling my shares for a loss if the results aren't what we expect. I think the MMs would take us down if the results aren't good and some people will no doubt sell at the bottom but their shares will be bought and they will buy back higher a month later.

This is actually one of the flaws of monthly production reports. A few days lost production is all it takes to make results look poor in the eyes of the average PI, but over a quarter it's insignificant.

That said, I am remaining optimistic that the results are good and that people are panicking over nothing.

It's actually a year today when we got the bad news that something was wrong and they wouldn't hit 2021 guidance and we needed financing. Turns out at the time we had 0 producing stopes due to a fall of ground. After the 30% drop that day we were valued about the same as we are now. Share price is obviously lower now due to dilution but the market cap is around the same. None of the news since then has been priced in.

My lesson from RMM is to never invest in a company that isn't making a profit. I should have sold then and bought back now that the turn around is pretty much completed. Hindsight is a great thing. Some people no doubt already knew this lesson, but for whatever reason haven't bought back in. Maybe they're waiting for confirmation of profits in RNS rather than TB saying we're cash flow positive.

I don't think we'll need to wait until Q3 to deliver, they should demonstrate that they can hit targets in April and May. They dug up 1188 tpd in March so it's not a huge step up to hit 1350. The big question is can they crush that rate. The machinery has to be reliable. It failed us in March and the first 8-9 days of this month. I can't imagine them having another setback like that.

I can only assume they're timing it with the Cape Town conference at this point and it will come Monday morning.

China have announced massive infrastructure spending as a result of the economic issues caused by Covid. Infrastructure requires copper so it will bounce back.

They're definitely not all sells. It's odd that the ask has been at 29p pretty much all day when all but one trade has been below that. If they were all sells we'd be down today, not up.

I usually face the same situation as you. Whenever I get more cash it is always "should I increase my position in RMM or should I diversify?". I always end up topping up here because the price is so low. Sometimes I'm glad, because in February I almost diversified into a junior oil company in the low 30s that is now sat at 20p after a terrible few weeks.

The positions I sold to overweight myself in RMM last year have also tanked since. People were calling me all sorts for selling ARB at a loss at £1.25 last year. It's 61p now. Sold DDDD at £1 for a loss as well, 40p now. Both shares were ramped as having massive potential and multi bags by Christmas. You have to be very careful on AIM.

So I usually stick with what I know best and top up here.

Production will be up. As someone else said - patience. Turn around has only just completed and that was met with the crusher issue, which has been resolved. Grades will also increase over the coming months pushing production up further.

Expect 500-550 tonnes for April and 650+ for May. When we finally hit those 2% target average grades we could push 750 in a month.

The market needs to see these numbers in RNS rather than forum posts before we see the buying that will take this up. Doing maths is one thing, actually producing these results is what matters.

I disregard anything Antharry says because he has confirmed several times that he no longer holds shares. He has an interest in a lower share price and that is no doubt why he lingers on the board with negativity.

All great results. Some are simply amazing.

"14.84m @ 12.16% Cu"

"16.00m @ 7.09% Cu including 8.75m @ 11.54 Cu"

Very low copper price, mine being badly ran and only one stope. As a result of low copper price there was no money for the improvements we've made over the past year.

Aubery I am not sure the directors have such a short term outlook as the majority of PIs. They may prefer to wait a few years to get more value.

150m would be a bad deal in my view. Got to think of the potential coming, with ore sorter likely to be in place by Q3 2023 further increasing profits. I'd take 250m in 2024.

The share price has been bobbing around 28-30p for what feels like forever. Since the 26.5p placing in early February. It wouldn't surprise me if a lot of the sells lately are from that.

At some point we'll break out of this range and not look back. But that's going to take results.

CLNs are the worst. Each conversion brings the price down, which increases the dilution of the next conversion and brings the price down further. Experienced this in another share last year. COPL ideally need to refinance before they convert any.