Xtract Resources Share Discussion Threads

[papillon] 08/10/2021 11:35

The XTR chart looks beguiling. A return to the 8p high of early January is looking more and more likely. I topped up this morning.

PS Colin Bird, if I remember correctly, purchased a big chunk of XTR shares on the market at 5.7p back in the summer.

[steve4077] 08/10/2021 10:42

@cinoib Here is a verbatim quote from a post on the XTR telegram group yesterday:
"To understand the value of the company, you need to take into account volume of resource, cost of extraction vs grade (open pit so very good), great jurisdiction, existing local infrastructure, nearby ports, AA Buyout clause, etc.. However, to do that you need to research the company and the average AIM investor probably looks at an isolated RNS and thinks that 0.5% isn't very good."

[denjon] 08/10/2021 10:28

Tried a dummy sell of 500k but no firm quote until I reduced it down to 100k.

[denjon] 08/10/2021 10:20

This will bring the sellers out pronto. Let's hope we get rid of a lot of them!

[chesty1] 08/10/2021 10:16

Thru 5p we gooooooi

[papillon] 08/10/2021 10:16

We have lift off!

[brasso3] 08/10/2021 09:53

200m GBP = 25p

[1blazer] 08/10/2021 09:52

If it is sold for £200m what would the share price be then

[picardy] 08/10/2021 09:49

Thanks, Count.

[the count of monte_cristo] 08/10/2021 09:45

Cinoib - you obviously have no idea about copper porphyries, it's a another example of why the UK investors do not understand what is actually going on here.

I have previously added a lot of details on here about this subject, the days of finding a 500mt copper desposit grading 1.5% are over.

[brasso3] 08/10/2021 09:44

The Count

Great posts. Onwards and upwards!

[cinoib] 08/10/2021 09:39

Well from my experience the quality is not high as normally you expect 1.5% for copper, but the quantity is very good. 155mt or nearly 500 ft thick, that's a lot of copper to dig out and the fact am getting near break even, I will stick it out a while longer yet. Nice one.

[the count of monte_cristo] 08/10/2021 09:25

Picardy, going back to your question, what we all need to be looking and listening for now is when will the next resource upgrade be? If anyone on here is in communication with management or Zak Mir please try and get this question answered, if we hear an answer such as 'this year' then that's excellent news for us. Next JORC upgrade is going to help propel the share price north as the market starts to understand what is happening here. These higher grade intercepts are going to help get us there!

Also, I suspect we will see a doubling of the mine life. The majors want long mine life projects, the longer and bigger the better, big is beautiful because it reduces risk and gives the accountants who now run these companies visibility. The majors don't explore, they acquire. Currently we have a 9 year mine life, I expect it to quite quickly increase to 15 and then ultimately 20 to 25 years.

The stock is still very cheap, IMHO.

[the count of monte_cristo] 08/10/2021 09:22

Some mines take decades to get into production, just look at Cascabel, it is already a decade old now and they are still years away from anywhere close to starting production. I have always said from the start that Bushranger will easily be in production sooner than Cascabel, if you look at how fast some of the more nimble Australian companies have managed to discover and open a mine it could be that within two years from now they are starting production. When I say 'they' I don't mean the XTR management:)

[the count of monte_cristo] 08/10/2021 09:18

CB keeps being asked that question but avoids answering directly for obvious reasons, to answer that question you have to understand the timelines for the two triggers for AAL. It's worth debating and assessing this now.

1. Reaching the 2mt contained copper. This will be achieved once they update the JORC resource, we know that as soon as the phase 2 drilling will be completed they can update the JORC. So far they have been strategic with the drills so I suspect we could see two resource updates, one coming once we have the current set of assay results back and the second one coming after the next half of the phase 2 drilling is completed. Timelines on the next resource upgrade could be within this year, but I don't think that will take us to the 2mt contained. With the final 20,000m completed drilling that could be enough, which would potentially be end of Q1 2021.

2. Decision to mine, they will be working on all of this right now, but actually pulling everything together will take time, so you would be looking at 6 months from now, therefore I think both things may come at similar times.

The above is my personal opinion.

I am also of the strong opinion that we will see Bushranger being sold for 200m GBP plus, maybe 400m GBP.

[picardy] 08/10/2021 09:07

Does anyone have a timeline estimate of when, given the current rate of exploration, the Anglo option could be exercised?

[denjon] 08/10/2021 09:03

Yes indeed today is the battle of the 5p. Let's see where we are this evening. Expectation of further news next week may encourage more buyers.

[avsome1968] 08/10/2021 08:49

5p the new barrier be great to finish above that.

[avsome1968] 08/10/2021 08:36

Very good assay results decent grades and plenty of it.

Drill hole BRDD-21-007 was drilled to a total depth of 846.9m and intersected trace to strong copper mineralisation from 46m until the bottom of the drill hole at 846.9m. The best developed copper mineralisation occurred between 239 - 412m down hole depth.

[jeanesy] 08/10/2021 08:14

those assay results look amazing to me. Didn't see them until this morning though ... grrr . I would have liked to have added . Looks like we will break 5p today. Steady as she goes

[denjon] 08/10/2021 07:33

Is this the deep calm hush before the storm this morning? A kind of reverential hush.

[hubs] 07/10/2021 22:52

Down, down, deeper and down...onwards and upwards. All reads positively.gla.

[jwafc] 07/10/2021 18:26

Rushed out since they inadvertently released 007 assays on the pdf included in the earlier RNS.

Great news all the same!

[qazwsxedc69] 07/10/2021 18:11

Weird RNS timing but very welcome news :-)

[mirabeau] 07/10/2021 18:09

Highlights



· Assay results for the second angled hole of the Phase 2 drilling programme at the Racecourse porphyry deposit have given further confirmation of the high-grade copper porphyry potential of the deposit, with the first two holes returning very encouraging results with thick copper intersections.

· Drill hole BRDD-21-007 returned an intersection of 155m @ 0.47% CuEq from a depth of 238.92m. The intersection in hole BRDD-21-007 follows that in hole BRDD-21-008 which intersected 184m @ 0.51% CuEq from a depth of 204m (refer to RNS 28 September 2021).

· Interval results of hole BRDD-21-007 are given in Table 1 below and summarised here;

o 155.08m at 0.47% CuEq (0.41% Cu, 0.06 g/t Au, and 2.65 g/t Ag) from 238.92m

§ Including 110.28m at 0.55% CuEq (0.48% Cu, 0.08 g/t Au, and 3.01 g/t Ag) from 238.92m

§ Including 38.08m at 0.69% CuEq (0.59% Cu, 0.14 g/t Au, and 2.19 g/t Ag) from 238.92m

· The highest intercept returned 2m at 1.14% CuEq (0.73% Cu, 0.66 g/t Au, and 1.40 g/t Ag) from 257m and is associated with sheared and brecciated mineralised volcanics