The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
NicetoMichu ... I didn't really understand what you were saying in your second paragraph.
My assumptions, based on what we have been told (stop laughing, everybody!!) are that the company does not need to raise capital, indeed, we are debt free, we have revenue, and we are not currently embarking on further costly exploration (ie drilling). So we have a significant resource asset, we don't need to sell it in a fire sale. And the world needs it and mining companies will want it.
In terms of cards held in your hands, XTR seems to be doing re3asonably well compareed to the cliched small exploration company.
There is nothing I can do about the share price. I would be happier if it were a few pence higher so the headline figure in my portfolio was showing in a different colour. We don't need new investors. Whatever the share price is now, it will be different if someone offers to take ProspectOre and all of its assets off our hands. PR is not going to winkle out some untought of potential buyer. The mining world know what is out there.
So, to me, it is that simple. At this moment in time.
Mystery solved!
Yes, they are all £10k as near as, but today's 4 were at a higher price than yesterday's so the identical volume doesn't make sense.
A strange number. Four of those 5 trades were for 303,618 shares. As were two of yesterday's. We'll never know why, and don't need to except to satisfy curiosity, but it is interesting to tie today's trades to yesterday's.
Assuming I can't envisage a scenario where the SP will start to rise, gain pace and then end up at a level representative of a buyout value. It will go straight there, wrongfooting all the previous holders that have been congratulating themselves for getting out on the way down past 5p. For them this will become just another 'if only' stock. Ditto all those 2p warrant holders that exited as soon as their lock-in period expired.
There is no need for wider awareness of what we have here. There is no need for increasing traded volume. One day 3p, next day sale, handsome dividend paid to shareholders. It is that simple.
Here is a optimists view of it ... ! ... why now? Is this a reward to the team as the end game is in sight and the company wants to reward the team with options priced at this level BEFORE the SP takes off?
Yes Cygnus. You have identified the nub of the problem:
"and this led to disenchantment in the asset for those not fully up to speed."
He is a non-exec. Paid (ultimately) to add credibility, maybe (a valuable endorsement), but my point is he will not be handing out his patronage without concern about what he is endorsing. Still involved = a very positive appointment and valuable member of the team. IMO.
The willingness to become involved, and stay involved, of Kjeld Thygesen as a non-executive director of XTR is heartening.
Not a man (I'm guessing) who would want to be part of any kind of pump to refinance, promise and not deliver, basketcase AIM explorer.
"About Kjeld Thygesen
Mr Thygesen joins the Board with a wealth of natural resource industry experience having worked as an executive director of N M Rothschild International Asset Management and subsequently, as the investment manager to several natural resource funds. Between 2002 and 2010 he served as a director of Ivanhoe Mines Ltd, which discovered and developed the Oyu Tolgoi mine in the South Gobi Desert of Mongolia, which was acquired by Rio Tinto. Mr Thygesen’s particular focus is in financing, valuation and corporate development."
Then he has gone up in my estimation. I lived in DXB once upon a time. Happily repatriated decades ago.
I read elsewhere that it is Colin Bird's birthday tomorrow. Fingers crossed he gets everything he is wishing for (with love from Manica, Bushranger, et al) and tells us all about it.
It has occurred to me that the reason we seem to get RNSs issued on a Thursday is that he lives in Dubai and Friday is definitely a non-working day, better suited to brunch at the beach club than fielding PR calls etc.
"PR ?!!? You must be joking" I hear you cry.
Has competitive bidding started already?
"and he must know by now what we really have"
if that is the case PLEASE publish it. Who benefits by him keeping known evidence from us and the market?
I'm with you on that Fosters. Sell the asset and move on. I would like to see some indication that AA are in fact interested. The popular standpoint on this seems to be that it is clearly a 'no brainer' given the urgent need for new copper resources to develop and exploit and the 'obvious' impending rise in the price of copper. Both of these need confirmation in the real world.
Yes Fosters, a trebling of the share price would be lovely. What could help, or hinder this? ...
Q3 results from Manica showing ramp up of revenues, followed by confirmation of operation running at full production. Downside is disappointing Q3 figures and delays to implementing full production. It is a common opinion that the current SP is entirely accounted for by this at the moment with no consideration being given to Bushranger.
As for Bushranger, what might move the price? Will we get publication of MREs/conceptual pit study for Racecourse or Ascot before or after we hear if Anglo American is going to pass on their option or make an offer. If they pass on the buyback deal, thereby allowing XTR to take it to the open market (possibly the preferred outcome) will this be because the MRE outcome is disappointing, and will we be told phase 3 drilling will be on the cards to make it all a bit more attractive? Might XTR downplay the MRE and conceptual pit economics in order to get AA out of the loop?
There are so many uncertainties (current gold income, near future of Copper prices, etc) and strategy directions that could be being considered no wonder we (holders) are where we are.
I'm impatient for further news and at the same time nervous of news, in equal measure.
Is anyone itching to declare that Mr £250k seller is back?
What makes you think a Phase 3 drilling programme is on the cards at all? Colin Bird (in an interview, not RNS'd admittedly) has stated there won't be one. IF one was needed and IF cash was required for it I would have expected to see activity aimed at generating interest in the company's successes (Manica full commissioning, talking up the drill results at Bushranger more actively), with a view to propping up the share price.
Why go to the trouble and expense of updating the MRE for Racecourse and creating a maiden one for Ascot, and updating the conceptual pit study and declaring the decision to mine if they were then going to embark on a further drilling programme?
We've been told to expect significantly increased production rates at Manica to be reporting in the 'next reporting period' and the updated conceptual pit study before the end of the year. 2 months left for both of those. And in the meantime the company can share progress with AA if they want to pre-empt things a bit. I don't think there is anything preventing from them getting on with this if felt appropriate.
RNS Sep 30th: "The Company will now utilise all the Phase Two drilling data to update the Racecourse prospect mineral resource and define a maiden mineral resource for the Ascot prospect. The open pit mining study for the Racecourse prospect will also be updated" ... and ..."The company will now utilise all the Phase Two drilling data to update the Racecourse prospect mineral resource and subsequently will update the open pit mining study for the Racecourse prospect which was previously completed in April 2021. The updated mining study is planned for completion before the end of 2022."
RNS Oct 6th: "Xtract is now incorporating all the geological and geochemical data from the Ascot prospect into a geological model which will be used to estimate a maiden Mineral Resource (JORC 2012) for the Ascot prospect. In tandem with this, a revised resource estimate is in preparation for the Racecourse deposit. This will then be used as the basis for an updated conceptual open pit mining study."
I still can't accept that today's spot copper price should dictate a major's willingness to secure a long term copper resource. With 10 year lead-in to production, and world-wide supply set for huge deficit and new discovery rate plummettng, getting your hands on a viable sizeable open pit resource with near surface capex funding early gains to be had in a safe jurisdiction ... should trump today's short term market affected copper price.
There are so few discoveries of any note coming through would not a sensible strategy be to secure the resource now rather than fight for it amongst others later?
"... I'm not in a hurry to buy any small copper mobs yet."
I think this sums up the general lack of uptake here.
An idle observation on the quietest of days: Often, related to any share on LSE, there are tiny transactions that seem to make no sense. With stocks where there is a much higher number of transactions this can sometimes be explained by a bit of housekeeping by brokers, rounding things off, etc. But on a lightly traded AIM stock like XTR? Today so far, half of the 6 transactions posted have been for a value of £10 or less. The most recent for about 10p.
Does anyone have any insight into the workings of the stock market that can explain these tiny transactions?
PLEASE ... don't anybody mention coded messages between traders. These days there are plenty of secure end to end messaging options that are far more effective than buying 1 share! If indeed that ever really happened.