Xtract Resources Share Discussion Threads

[lurker5] 12/11/2021 12:48

BRD-21-011
Of course, what counts for the economics of mining whateve drill assays show, is the average mineralisation over the interval which might be mined - and not cherry picked small intervals. In this case it is 260m @ 0.18% cu eq. Not particularly sparkling which is why share reaction is muted. On the other hand if it is over the top of the crown then lower drilss should be better. Its all about probing the edges of a deposit, as well as whatever riches there might be in its core.

[jlondon] 12/11/2021 12:31

Now, we know why the market limited shares to buy to 60,000 before the close yesterday. Fri, 12 Nov 2021.

RNS out today with assay results at Hole 11 with gold now included. The copper expert from Corbetts was spot on.

Thanks papillon. I took the data straight from the chart of S & P GLOBAL - kindly check. Also, papillon, the S & P article deals ONLY with gold and copper and therefore, they normally, as norm will NOT include anything else like moly, cobalt etc. I have just looked at the Kisanju copper project and it appears the name CATL also appears re: $137m so one has to look into it further. I took that off S & P's table verbatim.

[joycey1882] 12/11/2021 11:19

So it looks like the porphyry crown might be coated in gold. Nice.

[denjon] 12/11/2021 11:16

Looks like the day traders/sellers are keeping their powder dry hoping this will go to at least +0.4p or more this afternoon.

[avsome1968] 12/11/2021 10:56

If this cant break 6p with the results we are seeing copper mainly, those warrants must be getting dripped in each week, I've been taking note of volume each day from the 27th when they were available to sell in open market, to be honest not too bothered with price movement would like to accumulate one last lot at the best price so would be happy if they dropped a tad.

[denjon] 12/11/2021 10:54

If this doesn't push the share price firmly above 6p today nothing will.

[the count of monte_cristo] 12/11/2021 10:52

Can you imagine how much it would cost to buy Cadia-Ridgeway now, if they had just discovered it? It would be in the billions of dollars.

[the count of monte_cristo] 12/11/2021 10:47

The more times I see gold in these RNS's the more I am thinking about Cadia-Ridgeway:)

[avsome1968] 12/11/2021 10:46

Bushranger Project Assay Results

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to advise that independent laboratory assays have been received from drill hole BRDD-021-011 completed on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.

Highlights

-- Drill hole BRDD-21-011 has returned very promising intersections of copper and gold mineralisation near the northern limits of the modelled Racecourse Inferred Mineral Resource

-- Full results are available in Table 1, with highlights below;
-- 18m at 0.38% CuEq (0.14% Cu, 0.41g/t Au, 0.5g/t Ag) from 142m
-- 18m at 0.25% CuEq (0.05% Cu, 0.35g/t Au, 0.4g/t Ag) from 220m
-- 78m at 0.32% CuEq (0.3% Cu, 0.02g/t Au, 1.00g/t Ag) from 294m
-- 16m at 0.47% CuEq (0.44% Cu, 0.03g/t Au, 1.80g/t Ag) from 342m
-- Of particular interest are the significant intervals of comparatively gold-rich mineralisation encountered in the upper part of the hole which may be indicative of a mineral zonation system at Racecourse

Colin Bird, Executive Chairman said: "We are pleased to report on the assay results for hole BRDD-21-011 - the copper values are consistent with the results for the deposit in general. The intersection of two above-average gold zones high in the system has not been evidenced at Racecourse before, although it is not unusual for the region. It would appear that gold mineralisation occurring above the crown of the porphyry intrusion may add to the overall value of the project."

Phase Two Bushranger Assay Results

Table 1 - Assay Results from Drill Hole BRDD-21-011*


From Interval CuEq
Hole ID (m) To (m) (m) Cu (%) Au (g/t) Ag (g/t) (%)
BRDD-021-011 146 164 18 0.14 0.41 0.60 0.39
----- ------- --------- ------- --------- --------- -----
220 238 18 0.05 0.35 0.40 0.25
----- ------- --------- ------- --------- --------- -----
294 424 130 0.25 0.03 0.90 0.28
----- ------- --------- ------- --------- --------- -----
Including 294 372 78 0.30 0.02 1.00 0.32
----- ------- --------- ------- --------- --------- -----
Including 308 324 16 0.38 0.03 1.30 0.40
----- ------- --------- ------- --------- --------- -----
and 342 358 16 0.44 0.03 1.80 0.47
----- ------- --------- ------- --------- --------- -----
and 390 424 34 0.25 0.07 0.90 0.29
----- ------- --------- ------- --------- --------- -----

[the count of monte_cristo] 12/11/2021 10:37

Colin Bird, Executive Chairman said: "We are pleased to report on the assay results for hole BRDD-21-011 - the copper values are consistent with the results for the deposit in general. The intersection of two above-average gold zones high in the system has not been evidenced at Racecourse before, although it is not unusual for the region. It would appear that gold mineralisation occurring above the crown of the porphyry intrusion may add to the overall value of the project."

[denjon] 12/11/2021 10:37

RNS. Another very positive result! Just what we needed going into the weekend.

[the count of monte_cristo] 12/11/2021 10:36

RNS, more gold found.

Chris cat - happens all the time, and why can't fund buy in the open market like the rest of us, please explain? If they want in then they need to buy stock, no magical way to do that other than to buy in the open market, acquire stock from another holder or to be part of a fund raising of which we are not in any need.

[goforgold1] 12/11/2021 10:26

Colin Bird, Executive Chairman said: "We are pleased to report on the assay results for hole BRDD-21-011 - the copper values are consistent with the results for the deposit in general. The intersection of two above-average gold zones high in the system has not been evidenced at Racecourse before, although it is not unusual for the region. It would appear that gold mineralisation occurring above the crown of the porphyry intrusion may add to the overall value of the project."

[chris cat] 12/11/2021 10:25

TCOMC - Sounds good but we all know that's not how they work when buying into smaller companies, would love it to happen though

[avsome1968] 12/11/2021 10:16

XTR, RMM , Hardly any stock online last few days both look good for a bull run, buyer in both stocks will have to creep the price up for more sellers.

[the count of monte_cristo] 12/11/2021 09:22

Yes, they start buying in the open market like the rest of us. Pushing the price up and moving this north to 10p. I'm looking forward to seeing that first RNS detailing a new significant shareholding. Interesting times ahead.

[chris cat] 12/11/2021 08:49

Any ideas how we get more insti's involved? Probably not enough shares in free float for one insti to take a significant stake let alone 2 or 3. CB has said we don't need funding for 12 months or so, so no reason for a placing. Thoughts?

[the count of monte_cristo] 12/11/2021 08:15

Hmm, I can't get a quote with Barclays

[the count of monte_cristo] 12/11/2021 02:14

Hi Paps, thanks for the link. Just ignore the other fools on the other bb, they are only there to annoy and bash the stock and have been consistently wrong with their uninformed opinions of grades and lack of knowledge about copper porphyries. If you reply to them it only encourages them further and also fuels what they want which is to have two bb's running. Just my advice, but let's try and focus on this one bb:)

All in EOL - thanks for maintaining this bb, many posters appreciate it and the work you do to moderate posters etc.

[the diddymen] 12/11/2021 00:05

All in, it has to be close. Given the evidence of the recent RNSs I am not sure what impact another storming RNS will have.

Conceptualisation of the volume of ore might be the next step up but the last RNS stated that they were drilling again in the 'inferred resource'. I believe that CB said that the conceptual tonnage will not take long, but it will be another two weeks or so before the visuals on the above hole will be ready.

....otherwise it will be as CMC suggests the arrival of new more institutional investment, or a SE anomaly hole.

[jlondon] 11/11/2021 23:22

"Mining M & A in 2020-Deal activity bounces back in H2 after disrupted H1." S & P Global, 17.2.20

Table:
"Kisantu deposit [copper]
Buyer: China Moly
Seller: Freeport Moran

Equity ownership: 95%
D E A L V A L U E : $ 5 5 5 Million

2 . 764 Mt Copper."

Colin Bird's Latest Interview, Rosemont $400m {XTR AGM mention}
From the above, if 2.764Mt =US$555 Million, simple maths for 2Mt copper=
$401Million.