Xtract Resources Share Discussion Threads

[papillon] 01/11/2021 20:18

jeanesy is correct, denjon. There was NO recovery at the end of trading. When will the likes of advfn and ii stop basing their closing prices on a small UT trade price at, or after, an hours auction? And when will some PI's stop being taken in by it?

PS Before tomorrow's 8am opening advfn will have reverted back to a 5.25p closing price.

[jeanesy] 01/11/2021 20:06

There was no recovery at close of play. We will open at 5.25p unless there is an RNS !

[denjon] 01/11/2021 19:23

I got that closing figure from my broker's website ii. Just happy we made a slight recovery at end of trading.

[papillon] 01/11/2021 18:38

The closing spread was 5.20-5.30p. MM's don't quote a closing price only a closing spread. It's the likes of advfn who quote a mid price, denjon.

[lurker5] 01/11/2021 18:37

Difficult for newbie investors to understand that there is no magic 'price setter' in the sky to ensure any share 'reflects value'. The so-called 'efficient market theory' was exposed decades ago as illogical and otherwise only applicable where there is a large number of investors competing over one large cap share where 'knowledge' is widespread and disseminated immediately. For tiny AIM miners, a share price is set by a few punters who buy and sell for their own limited reasons at times to suit their own limited agenda or cash availability, while market makers merely follow what they perceive to be punters' short term intentions in relation to whatever 'book' they hold at a given moment. Tiny AIM miners' shares ony react when it becomes clear that someone might buy their company, or inject funds (at a certain price) to help its strategy. Otherwise its shares will just wander around. So if investors are in for what they thnk is 'long term value' they should lock them away, and not waste BB space.

[denjon] 01/11/2021 18:06

ii shows -0.05 at close.

[papillon] 01/11/2021 17:17

Ignore the 5.4p shown as the closing price in the chart in the header. That's based on a small UT trade price reported after the close. The actual spread at the close was 5.20-5.30p, giving a closing mid price of 5.25p.

PS advfn have a bad habit of initially using these UT trade prices after the close of day auction as the closing price.

[denjon] 01/11/2021 17:07

Shows -.25 at close.

[goforgold1] 01/11/2021 16:32

Thats a big drop for one day .40 . Back to 4.5p we come without news mms at there games 7% down . o well i have to top up at 4p level.

[papillon] 01/11/2021 15:12

The share price is currently resting on the 20 day EMA. Perhaps that will attract buyers and act as support.

[papillon] 01/11/2021 15:09

The MM's are dropping the price to attract buyers and deter sellers, Steve. They don't want to buy shares from sellers if there are no punters ready to buy them. They'll keep dropping the price until the buyers return. Simples!

[steve4077] 01/11/2021 15:05

We are down 5.6% at the moment with only 2.6m shares traded. To give some context, on every day the share price rose in the last six weeks, the volume was higher than today :)

Not GFG's phantom flippers. Just the MMs are taking it down on low volume as usual.

[papillon] 01/11/2021 15:02

Posted by iceberg on the lse XTR bb.
It's worth noting that a cheap to mine resource, an open pit mine in a miner friendly location, is, like with XTR, also the initial aim of PXC.

theiceberg

Posts: 7,469

Price: 5.55

No Opinion

RE: This is what we're up against....Today 12:11
A lot of folks don't realise that most mining is pretty boring. 90% of projects are not world class grades. Miners want easy projects, low risk, easy consistent grades, and economical.
They want to turn up, use a simple method of mining, dig it out the ground without 500m of over burden, extract it, process i t using methods that have been around for decades and send the copper sludge cheaply for final processing and smelting. They want whatever they mine to last for decades and just become a solid cash cow.

Bushranger is a godsend for this as long as the tonnage and grades are economical. Which looks likely.

[goforgold1] 01/11/2021 15:01

well back down we go big drop today could go back to 4.5p again till news good news not these drill results ,, CB gone quite with his statements again after RNS .. Still to many flippers in this stock . No real Institutional investors yet . Just a waiting game if goes to 4 to 4.5p i buy more for a trade . 6p is tops now we know that fell quickly from 6p

[papillon] 01/11/2021 14:22

The following is from the PXC bb.

sportbilly1976 1 Nov '21 - 11:50 - 5165 of 5165
0 1 0
SP Angel morning note:

Copper recovers on low LME inventories report Chilean output hits 7-month low

• LME inventories remain near their 1998 lows of 14,150t with cash premiums of $312.50 on 3-month contracts highlight tight supplies.
• China factory activity grew at fastest pace in 4 months as power limitations eased driving demand higher.
• Chile’s September copper production hit its lowest since February on labour disruptions and weakening grades.
• Copper output fell 6.9% y-o-y in Sept. to 451,128t, down 3.4% from August and 1.9% yoy on strikes at several mines. Codelco’s Andina mine suffered a 1-month strike.
• The market is heading for an approximate 5mt deficit by 2030 unless there is very substantial new investment in the development and discovery of new copper mines.

[papillon] 01/11/2021 14:16

Friday's news may not have disappointed you, or I, TD, but it will have disappointed some, who have since sold and gone to pastures new. Perhaps even to TOM, 🤣, a perennial favourite of pump & dump speculators!

[the diddymen] 01/11/2021 12:44

Paps, I do not think that the Friday RNS disappointed, but in a way it was irrelevant compared to the potential impact of hole 25 due within a couple of weeks.

Iceberg on LSE has pulled together his analysis of the drill/assay on the inferred resource. His estimates look good in terms of contained copper but it will have to come from the company before investors take note and start to move. Even then the value projections will be heavily discounted until there are substantive disposal negotiations.

The next move will come either from a larger investor taking a stake, or hole 25 giving an indication of what is in the SE anomaly.

In the mean time I think that most holders have firmed up their positions and they will wait. ie in the coming weeks volumes will be subdued until the key RNS, unless other investors come in.

Not too long now!

[avsome1968] 01/11/2021 12:25

I believe he's traded out also Divmad, that's great news he can now move on instead of moaning all the time, trouble is that i also have a good stake in Bids and now he's over there, overtime he's going to miss the big gains.

[papillon] 01/11/2021 12:24

Next support level (20 day EMA) is 5.35p.
Today's fall should not come as a surprise. XTR share price is news driven and Friday's RNS failed to ignite investors enthusiasm. After almost 2 months of a steep uptrend a reversal was always on the cards if news disappointed. Let's see what the next RNS brings.

[qazwsxedc69] 01/11/2021 12:17

His constant posts were like listening to the internal dialogue of a 16 year old.

[divmad] 01/11/2021 12:13

He's traded out, that's clear. He's now punting BIDS on another bb.

[the diddymen] 01/11/2021 11:19

gfg re- sliding back. I do not think so.

[steve4077] 01/11/2021 11:05

The drilling updates are news :)

Read theiceberg blog to see what the latest update means for the company.

As for delays, we only bought the licence a year ago and the drilling is happening very fast. Lets compare to GGP. GGP acquired the Havieron licence on 25th July 2017. XTR acquired Bushranger on 27th October 2020. The respective announcement of the first drilling campaign was 50 days later for XTR (6000m) and 267 days later for GGP (2400m). First assay results were 143 days for XTR and 335 days for GGP. The second drilling campaign was announced after 258 days for XTR (20,000m) and after 419 days for GGP (6,000m). At the equivalent point in GGP history (compared to current XTR) they were still months away from even starting their second drilling campaign and even that was only planned for 6000m.

I've never seen any poster than goes from optimistic to pessimistic and back so quickly and so often. If you believe in the company, just sit back and wait for it to happen. Watching the daily share price movements is what causes the doubt.