The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Well, its related to Colin Bird, so probably African Pioneer is the best place to go. You are logged in to ADFN so probably best to use the Search facility.
I think we could be expecting to see Manica Q3 results anytime soon? They were reported on Oct 14 last year. Is reporting of these results mandatory in any way, or does the company just choose to publish if they want to? Reiterating the presence of what appears to be ongoing passive income should be a positive, as long as the rate of output is still on track to build to full production levels.
I love this back and forward. Can you imagine the onlooking entertainment it givers to those who are actually involved.
The only tougher task than being an Xtract investor trying to work out reality from such ambiguous information is a radio astronomer examining a signal on an oscilloscope that came from a star that died 10 billion years ago to work out what its composition was.
Jezzoo, I think it was humour, tongue in cheek, ironic.
Lucky ... the anger is exhausting. It must exhaust you too. This discussion stemmed from Banjai posting under the title "Cheery post" earlier today.
There never is a happy medium.
Little to no news is seen as covering up bad news. Rather than there is no specific news right now that can be talked about.
Lots of news is seen as a ramping CEO who is trying to bolster the SP in advance of yet another raise, yet risks 'crying wolf' and devaluing future news as it may be dismissed as further puff and blather.
My view on negative posters is that the poster is trying to get reassurance from others. If their negative feelings based on what they feel they know was strong enough they would sell out. This excludes the negative posters who have lost money in the past and don't blame themselves. (2nd hint of the day ... you can only ever blame yourself, even if you have really been scammed. You chose to press the #buy# button. Leaving the money in the bank would have resulted in a better result. It was your own appetite for risk that got you where you are).
Some positive posters are probably also seeking reassurance. Some are simply comfortable with their investment.
No it isn't.
I am surprised you haven't already taken the time to explore it yourself. I presume you are invested? You don't seem 100% happy with things. It's an interview with someone who really knows what is going on. Like it or not, you will only know by taking the time to listen to it.
Thanks Banzai. It looks like we were thinking along the same lines simultaneously. Apologies to all for the lack of intended line breaks in my post. They were there at time of posting!
As Banzai encourages ... cheer up, and have a listen to the podcast I linked to.
(Although the 'permanently infuriated' may only get further incensed as it features that arch villain, Mr Colin Bird)
Most recent RNS: Colin Bird quoted: "We are now working on the overall geological model for Ascot, which will then be used to produce a maiden Mineral Resource Estimate for the Ascot Prospect. This will be in addition to the updated Racecourse mineral resource estimate which is close to completion."From final summing up: "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."And have another listen here: (4 weeks ago - Phil Carroll and Kevin Hornsby talk to Colin regarding Bushranger and the Fairbride alluvials.) https://player.fm/series/the-sunday-roast/s4-ep86-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aimxtrThrow as much mud as you like, but it comes across as a genuine appraisal of the situation and what is currently happening regarding Bushranger, with a little exploration/exasperation related to the reticence of the market to open their eyes to the value and potential of XTR.I have had the opportunity to have had a similar conversation in person with Colin Bird. I don't have to convince anyone but myself and my impression was of a down to earth pragmatic professional and there wasn't the slightest whiff of BS, then or now.
Thanks for the explanation.
ok thanks. not so clear from your post. any context, ie did the indy valuer value up, down, etc compared to what the explorer was asking?
Wrong thread. Maybe meant for SolGold thread?
My 'SP' target is a sale of the Bushranger mining rights (ie a sale of PrsopectOre back to AA or to some other party). I will take, and be happy with, the proceeds of that. Guessing the value in advance is not that helpful in my mind. I don't see any reason to have e.g. 20p as a target and sell at 20p before I know what ProspectOre will be sold off for. Will I retain my shareholding in the remaining business of XTR after that? Doubt it very much. Unless of course Colin Bird tells Zak he has found something 'very very big' on the eastern border of Ukraine.
I have noticed in many cases that 'investors', a loose term for people that buy shares in any company, feel aggrieved that they don't fully understand what they have bought into and then expect it to be explained to them in layman's terms after the fact.
There are many gaps in my own knowledge with respect to resource exploration, but I regard that as my fault, or choice, to invest without the understanding that a 30 year career in mining might have helped with. Even so, a 30 year career in resource exploration in Chile may not have enlightened me about the peculiarly Ozzie term 'Decision to Mine'.
And for this reason I don't complain incessantly that the company I have invested in is failing to give me regular remedial lessons in knowledge that I should already maybe have sought out for myself before I chose to commit my own funds in the hope of making a return from that company's efforts.
I think the confusingly named Decision to Mine is throwing us off a bit. And Colin in the past. His comments, a while back now, about commencing a mine as a part of making a Decision to Mine valid were wide of the mark in my opinion. A learning curve for all?
As far as I am concerned a Decision to Mine is presenting an verifiable model of an economical possibility of a mine. I don't think its like trying to validate your domestic planning permission by digging a few trenches to prove you've started work on the planned building work.
Can anyone validate this view?
The calm before the storm?
Its always darkest before the dawn (I think Colin Bird actually said this on a recent podcast)
What is left to report before we get this new conceptual pit (ETA much disputed)? All assays in now from all outstanding drills? I think it has been expressly said no more drilling (ie no Phase 3) required before delivering conceptual pit / D2M etc? As time goes on we move towards reports of fully commissioned gold production at Manica, and a quarterly volume.
What news is out there waiting to happen and, excluding major unexpected events or incidents, what chance of negative or positive market reaction is there to any news we are waiting for?
Many here are bemused by the lack of reflection in the current SP of what most believe is the promise of Bushranger. But not everyone speculates. We are speculating, but the market moving share buying (or not!) interest will come from deep pocketed investors who can justify their capital (and/or their jobs) by pointing to solid, irrefutable information. Be that revenues from gold production, or clear interest from a 3rd party that want to buy the resource at Bushranger with a view to mining it.
Before that happens current holders may lose patience and sell, but most other investors are probably waiting for their current positions to get to somewhere near breakeven before committing more funds.
For the record, I am as impatient as most others for news that heralds the next chapter in the story of Bushranger.
Its not my area of expertise. Curious to discover how it all works, and have really enjoyed expanding my knowledge over the last year or so.
Just think of all those features and inputs in the modelling software that will be left blank, ie adding no additional costs. Currency risks, political risks, seasonal extreme weather considerations, power provision, transport of all kinds, skilled and semi skilled labour availability, security, etc etc!
A question for those in the know ... how complicated is the modelling? I presume there is established 'go to' software that can be used. The datapoints available from which the geophysics is interpolated are surely limited to what they have pulled out of the drill holes, and the infrastructure of the processing plant, the workforce and all other equipment is a complicated (I am sure) but not unique project to be costed.
I know many here have got their fag packets out and made their own calculations from the reports from the drill core and assay reports, etc. Surely all of that is woefully inadequate and ;potentially very wide of the mark (despite people declaring how definately likely or unlikely 2MT may be), but I expect the level of sophistication of the tools being used is high. And also clever enough to tweak, add data, create scenarios etc almost at the click of a mouse?
Thank you. All sorted re: Telegram.
A question, on another quiet day, for anyone with any view on this ... I have read that we may have sight of a 'JORC' by December. But there is also the conceptual pit model that is due to emerge. I think Colin Bird said imminently, or soon, or some other term that has been taken by most to mean next year ... ! Although my take from the last but one appearance on The Sunday Roast was that Colin Bird let slip, later on, that the conceptual pit model should land late October. It felt like an unguarded moment wrapped up in a burst of enthusiastic burbling.
So am I right that the conceptual pit model is what will be accompanied by the 'decision 2 mine' declaration as it demonstrates an economical pit waiting to be got on with? This is of course the trigger for AA to excercise their buy back clause if they should so wish.
So what is the significance of this JORC, if it is due as late as December. Is it required. Might ProspectOre be enjoying the love of a new (old) owner before that JORC lands? Or will the potential sale to AA or anyone, rely on the existence of the JORC?
Any contributions to these gaps in my understanding are much appreciated.
And did anyone else pick up on that slipped comment (Sunday Roast, a month or so ago) about the conceptual pit model landing in late Oct/early Nov?