Xtract Resources Share Discussion Threads

[brasso3] 13/10/2021 13:07

Sorry. I only checked the RNS on my phone so did not look at the links.



So the purple dots are the new 13 wells that were approved.

[steve4077] 13/10/2021 13:02

Yes, the company RNS. Including the one from today.

[brasso3] 13/10/2021 12:46

The Count

Is there a link anywhere showing the holes drilled to date on a map?

[divmad] 13/10/2021 12:45

More value in it for xtr shareholders if they wait until Phase 2 is fully drilled and then a JORC resource is calculated. Plus it saves on costs in the meantime.

[the count of monte_cristo] 13/10/2021 12:33

The Diddymen, don't forget we also have other targets that they haven't even had time to investigate, plus Epithermal targets. Additionally, if you look at the maps we haven't touched the other licenses arounds us. The other three licenses are up for renewal in June and Sept 2022.

I would like to know from the management whether they will wait for the next 13 holes to be drilled before we receive an updated JORC or whether they will add the phase 1 drilling with the first part of the phase 2 and provide a JORC update for them and then later provide a further JORC update once the 13 holes are all in.

I presume they will just wait for the next 13 holes to be drilled. Exciting times ahead.

[the diddymen] 13/10/2021 12:14

Still amazed that investors have not picked up the scope of the SE extension in the pdf.

Presumably this RNS will enable CB to expand on the 14th. A good RNS on hole 20/21 would also make a nice backdrop.

Given the reluctance of the market to engage with the drill my instinct is that CB will have to enhance the conceptual pit once 20/21 assays are RNS'd and then secondly, when these next 13 holes are complete and assayed.

In a way I quite like the fact that Footrot has been excluded, it is a statement of strength not weakness.

[steve4077] 13/10/2021 10:47

So we have one option 5000 feet up a mountain in the driest desert on Earth in a country that is planning one of the highest mining-related tax burdens in the world, or a fast-growing resource 150km from Sydney, surrounded by existing infrastructure in the best mining jurisdiction in the world. Hmm! Tricky choice!

[markinvestor] 13/10/2021 10:37

+ve readacross

Perth-based diversified miner South32 Ltd is the main contender to acquire a 45% stake in the Sierra Gorda copper project in Atacama, Chile, the Financial Times reported late Tuesday.

According to people with knowledge of the sale process, South32 could pay as much as USD2 billion for the 45% stake, although there is no certainty that a deal will be reached.

State-backed Polish miner KGHM Polska Miedz SA currently holds a 55% operating stake in the Sierra Gorda. Of the remainder, 31.5% is owned by Tokyo-based miner and metal smelting firm Sumitoto Metal Mining Co Ltd, and 13.5% by Japanese trading firm Sumitomo Corp.

In 2020, the open-pit mine produced almost 150,000 tonnes of copper concentrate. Sierra Gorda sits at an altitude of 1,700 metres and the deposit has enough ore to support at least 20 years of mining.

[the diddymen] 13/10/2021 10:11

I must have read a different RNS this morning!

[the diddymen] 13/10/2021 07:18

Nothing planned for Footrot yet!

[the diddymen] 13/10/2021 07:16

If the blue dots were an incurable rash you would be in deep trouble. As it is they are not and it shows the scale of the potential extension - presumably based on the resistivity and IP that has been enabling far more precision drilling in the current phase.

This is significant.

[hubs] 12/10/2021 19:53

What's not to like about this lovely steady rise over the last weeks? 0.1p a day is fine by me...gla.

[goforgold1] 12/10/2021 16:11

Way to many flippers in this

[papillon] 12/10/2021 12:07

👍 Steve4077. Spot on. I'd forgotten about them. Probably couldn't believe his luck at picking them up at such a low price.

"Xtract Resources (AIM:XTR) announces that it was informed on 23 August 2021 that on the same date, Colin Bird, Executive Chairman of Xtract, acquired 2,054,700 ordinary shares of 0.02p in the Company ("Ordinary Shares") at a price of 3.50p per share. Following this transaction, Colin Bird is interested in 14,586,966 Ordinary Shares representing 1.72% of the issued share capital."

So CB has over 14.586m shares currently worth over £750k.

The Stigologist was ramping BZT and deramping XTR in the early summer using CB's bullish interviews with Zak Mir on BZT prospects as evidence. Yet CB was only buying XTR shares. He wasn't buying BZT shares!

Do what CB does, not what he says!

[papillon] 12/10/2021 11:37

Very true, Brasso3
"The historic metric is going to be less relevant because of the requirement for copper in the process of carbon reductionand its impact on demand."
Spot on TD.

[brasso3] 12/10/2021 11:13

Copper looks ready to burst...

[steve4077] 12/10/2021 10:49

CB bought another 2m shares in August.

[divmad] 12/10/2021 10:38

.... Apart from ggp in the early days.

[the diddymen] 12/10/2021 10:17

The bottom line on this one is that there appears to be good evidence that there is a significant Porphyry copper deposit.

The size is undetermined, but the current market cap almost certainly undervalues a risk based valuation.

The historic metric is going to be less relevant because of the requirement for copper in the process of carbon reductionand its impact on demand.

When values are so open to interpretation, and they involve small miners, we are not going to see a straight line, but there should be a clear direction of travel.

I have been investing off and on for 30 years or so, and on relatively little capital I have done relatively well. In those 30 years XTR is the biggest opportunity I have come across, with low downside risk.

[papillon] 12/10/2021 10:09

In February CB bought 1m shares @ 5.83p and in April he bought another 1m shares @ 5.7p. I suggest he knows far more about mining than lurker5 🤣. Unless he is a masochist why would someone with his vast experience of mining splash out a total of £115k on XTR shares? He currently has over 12.5m XTR shares worth over £625k.
Don't do as CB says, do as CB does!! 😁

[lurker5] 12/10/2021 09:15

Dibs etc- brainless comments I'm afraid, and latched onto Bushranger well after I did. When did I say I was 'bearish' ? I said the share's progress will be erratic. That's realistic and could be helpful for a true bull (if with a brain). And Count - look at GGP this morning. Its presentation hasn't answered the big elephant in its room. And neither does it have many 'majors' on board. The sensible have been switching to NCM As for SOLG I was among first to recc it when under 2p and to recc getting out above 40p. Lastly, 10 years ago was the peak of a big boom in mining valuations which haven't been matched since. While I have benefited from some of your insights and early pointers, your grasp of history and valuation metrics is a bit fragmented.

[the count of monte_cristo] 12/10/2021 02:29

I disagree with Lurker, we have two example case studies (there aren't many large copper porphyries that have been sold in the last 5-10 years). When the company update the JORC and the fundamentals for the project we will have a better understanding, I expect a number of JORC and project updates.

The majors LOVE long life mining assets, it is what they are hunting for because it gives them visibility, big is beautiful and Bushranger is turning into a very large deposit. Everyone interested in small cap mining companies should be aware of this, it's why GGP and SOLG have the majors onboard.

It's not ramping when you have examples of copper porphyry projects being sold for half a billion dollars almost 10 years ago and you can compare the two projects.

[qazwsxedc69] 12/10/2021 00:31

Thanks for conceding you are being disingenuous. Your touchiness speaks volumes (more than your aimless waffle)