Xtract Resources Share Discussion Threads

[jezzoo] 14/11/2021 19:46

That was a difficult read

[jlondon] 12/11/2021 23:46

VALUATION as in post #124 above, Fri, 12 Nov 2021 is of interest to every shareholder.

One has to hear from Mr Bird, an independent official Valmin Code Geo/Practioner
and an investment bank to get an idea. Mr Bird has already spoken on the matter.

If one wants to listen to anyone else, that is up to them. I, holding XTR shares
can also decide what value I attach to my shares and what I consider is "fair value" and if wrong, then only I can take responsibility if the fair value achieved is different to the one that may eventually EVENTUATE if AA etc does offer a buy-out or if not, then an exit strategy that Mr Bird and the board may take as is norm.

Mr Bird has quoted $700 million development project. From my understanding, this is a very big project for open pit and this figure itself tells the story. At 5.82p [mid], the market cap is £49m.
Mr Bird's other co, Mankayan [block-cave and sub] has a JORC but needs updating to JORC 2012 standard when it lists in Oz. Mr Read, the CEO of Mankayan then did a Conceptual Study using block cave expert/s and other experts and at the cheapest and lower output, the capex is just under $1bn.
Mankayan was said to be Tier 1 by the former CEO and Mr Read called it soft Tier 1. However, when it is updated, the deposit will increase using a different cut-off. Mr Bird did not elucidate so I have to check the Conceptual Study for XTR again when it is not so late.

I rest my case. I cannot be blamed for asking. Even in real life,one does not just take a cal to be fact unless the breakdown is seen and a 2nd opinion taken from an official Geo/Practioner that can sign off Valmin Codes reports.
Surely, that CANT be wrong given valuation = share price?

In fact, the best person to approach is the NOMAD of XTR as they would be best placed to comment on it just as the NOMAD of Solgold was approached when a fund manager or so he said stated that £8m mkt value [around 1.5p+] for Solgold was OVER-VALUED. The Nomad advised to contact the FSA to report this. Why? This chap has no licence to do valuation, hence why the Nomad could say to contact the FSA. Today, Solgold's share price is 26.45p , Mkt Cap £608m. Nomad is the PROPER nominated advisor and will be nuanced in VALMIN CODE and will be able to PROVIDE guidance etc as is norm?

SOONER OR LATER, SHAREHOLDERS WILL FIND OUT THE VALUATION OF XTR WHEN IT EVENTUATES either in an official Valmin Code valuation done THEN by an official Geo/Practioner who can sign such a report or other methodologies?

J.London, Fri, 12 Nov 2021

[jlondon] 12/11/2021 22:14

"Working with Valmin, a Practioner's View."- Bob Appleyard, BSc [Hons], FAusIMM,
MMICA, MICM, CP Geo, Australian Minerals Consultant.

hxxps://www.valmin.org/docs/working_with_valmin_a_practioners_view.pdf [5 pages]

"SITE VISITS: C38 states that where inspection of a MATERIAL ASSET is likely to reveal info or data which is MATERIAL to a report,it should be INSPECTED."

"In reference to VALUATION, a R A N G E of 5 - 10% of total value is provided as a guide to MATERIALITY.

"TECHNICAL & FAIR VALUE: C8 notes - NUMBER OF METHODS of VALUATION which to SELECT and -----that the SELECTION may AFFECT the OUTCOME.-------

..involve MARKET FACTORS - yardstick values. Moreover, at any one time, the TRADE MARKET is likely to have a different view of VALUE than is the share mkt that deals in portfolio interests and implicitedly VERY SMALL PARTS of a particular project.

Technical value and FAIR MKT VALUE can also be DIFFERENT...competitions between buyers,..insurance...taxation ."]

Document, tens of pages and sometimes >hundred pages...expert appends any SUB-CONSULTANTS reports."

MR COLIN BIRD INTERVIEW [Hole 25 and VALUATION] with Zak recently.
Mr Bird reads the forums and given he heard all about the Valmin code, he
was helpful to inform that at 10P, he would tell folks where to go.

One reads often in the press that a co's board has received a take-over offer of X price but the RNS could say that they have rejected it as it under-values the co.

VALUATION
At some point in time, when Racecourse has finished the Stage 2 drilling of 20 holes [post Stage 1 20 holes finished], one will get a better idea of how Racecourse is playing out vs the hypothesis modelling.

So, if at a stage if the Valmin code is needed, then an official Valmin Code
valuation will be commissioned and it would then be interesting to see the
valuation done by a qualified practioner who will have to be a Geologist who has the pre-requisites to do one.

I mention this as this will be of interest to shareholders. Each one will have to decide again for themselves as to how far they are going with XTR and at what exit strategies they wish to undertake. Everyone has different priorities ie family finance etc.

I, for one will also have to decide for myself but I think at this stage, I will wait for the next Hole 26 and a bit beyond which is being drilled at the NEW SE ANOMALY at Racecourse. No doubt, Tooday's Geophysics would help just as Stage 1 drilling used their data.

At Cadia Ridgeway, there was NOT just 1 anomaly but
several ie Ridgeway, Big Cadia, Cadia Quarry, Cadia East, Cadia Far East and Little Cadia. So, at Racecourse, perhaps more to come?

No one can blame someone else if they do not want to accept a low price
for their XTR shares as each one will decide what they think their shares are worth or could be worth. At the momo, the share price is 5.9p to buy with a mkt cap of £40m+. Having been in Alpala and Havieron, one does get an idea
having been in the rodeo more than ONCE.
=======
ACID TEST [known terminology]: AWAIT TO SEE WHAT THE VALMIN CODE
DONE BY A QUALIFIED GEO/PRACTIONER WILL BE IF ONE IS COMMISSIONED OR THE VALUATION IF THERE IS A BUY OUT FROM
AA OR OTHERWISE. Then, with an official Valmin Code valuation that is signed by a Geo/Practioner can one tell the technical and fair value and the assumptions of that value which must BE EVIDENCED by site visits, sub-experts reports etc.

Even for JV, there is a valuation whether people are aware or not. Allenby mentioned the Havieron JV with Newcrest and the value per oz that was attributed to the JV.

I am quite sure Mr Bird is cognisant of the value whether Valmin Code or otherwise at THIS point in time given they have an copper expert from Corbitts, former Head of Exploration, BHP [Australia & Africa], PhD Geo, Modeller etc. Why? They have a HYPOTHESIS MODEL which Mr Bird said has been handed to AA. Otherwise, how could Mr Bird mention $ 7 0 0 million development project? With experience, they can ask or ring around to get an idea - isnt this what all commercial orgs do?

If Mr Bird had VALIDATED the figures [ LOWER B A S E LINE QUARTILE] put out, then fair enough but
Mr Bird did not [?]and hence ....This included anyone who asked....So, all comments other than ON THE ACTUAL FACTS of the valuation appears to be not supportive of the facts?

Everyone on this forum answers when they are said to be X or Y, so
this should be clarified instead of history given a wrong idea.

THE OFFICIAL VALMIN CODE CALS DONE BY A GEO/QUALIFIED PRACTIONER WILL BE TELLING if XTR does commission one.
That will be the PROOF OF THE PUDDING but until then, the jury is out?

It would have been helpful to see the actual cals given the above ie "NO OF METHODS OF VALUATION- and that SELECTION may AFFECT THE OUTCOME" per Mr Appleyard as above. Even in a accountancy exam, the actual CALS need to be shown as to how it was DERIVED?

For clarification. Fri, 12 Nov 2021. J.London. Its late so pardon if not editing for brevity.

[jlondon] 12/11/2021 19:18

XTR, Fri, 12 Nov 2021 - Racecourse Hole 11 assay results.
1.6m shares bought @£95k.
1.58m shares sold.@£90k.

90 share trades.
5.8p to sell and 5.9p to buy.

So, 90 trades for £185k [95+90] = £2,050 AVERAGE per trade [185 divided by 90 trades]

Today, XTR shares rose only 4.46%.
So, traders hardly made much even if they managed to buy some at 5.7p yesterday, max 60k for online quote to buy.

Again, it shows the evidence that all this traders business suppositions is small change?
Maybe, good for a lunch + dinner ie £2,050 at @4% = £82.

Fri, 12 Nov 2021.

[the diddymen] 12/11/2021 17:20

Re Institutional Investors from earlier in the day.

At year end 31/12/20 there were 83m options at a weighted average of 2p. That could be a route for an institution to buy a 'slab'. Otherwise it will be the open market and there is nothing like a radical price movement plus or minus to flush out sellers.

It will happen!

[lurker5] 12/11/2021 16:16

I see our sad little friend Yasx has arrived. He bears a grudge because he couldn't understand why he shouldn't back AAZ. None of his posts on a series of companies show any knowledge of the vital numbers needed to predict where a company might be heading. And like a child he threatenes to 'out' personal details. Its not difficut to deduce his sub-normal educational level.

[jlondon] 12/11/2021 16:12

My post 118 & 119, XTR, Fri, 12 Nov 2021

FINAL OUTCOME:
That is still to come in the days ahead.
What will history say about Racecourse- Bushranger.

XTR RNS on Hole 25, Racecourse [NEW S.E ANOMALY AT RACECOURSE] a few days ago was of interest.

So more to come?

Certainly, my own view has been POSTED from day one in Dec 2020 before XTR
started drilling and this was DERIVED from XTR's Apr 2020 Presentation on Bushranger and more importantly what TOODAY'S GEOPHYSICS SHOWED in relation to CADIA RIDGEWAY? Tooday owned Racecourse prior to XTR.

Will TOODAY 'S GEOPHYSICS COME OUT RIGHT? XTR has done more sophisticated geophysics and Mr Colin Bird, Executive Chairman stated in his Tue, 9 Nov 2021
interview that "SCIENCE WORKS." He means geophysics etc ie technical data.

--MR BIRD'S END WORDS IN THE SAID INTERVIEW, 9.11.21:
"BIGGEST DEVELOPMENT STORY IN COPPER WORLD."

What will history say? Got to wait for this Racecourse story to play out
ie even Footrot and White Springs maybe?

Have to now wait for the FULL POTENTIAL to play out with evidence to come from the results of the Racecourse-Bushranger drills/assay results etc?

Fri, 12 Nov 2021 J.London
Please check and listen to the said interview as there can be listening errors so best to check Mr Bird's verbatim. DYOR.

Up to each one to decide for themselves what they are here at XTR for?
It will depend on their OWN understanding of the results or NOT and responsibility lies with each one?

History PROVES many projects like HAVIERON, SONORA, ALPALA etc.
Same with Racecourse-BUSHRANGERS, Lachlan Fold, NSW, Australia [XTR]. Will re-visit in year/s to come. J.London, 12.11.21 [Fri]

[the count of monte_cristo] 12/11/2021 16:02

You can't always get it right, I did the research on PANR this Jan/Feb and was holding 150,000 shares, sold at a loss. Now they are multiples of that price and closing in on 100p. An expensive learning exercise.

[jeanesy] 12/11/2021 15:57

Perhaps some are buying ahead of FOMO if news gets dropped early next week ?

[the count of monte_cristo] 12/11/2021 15:56

I bet Zak has been buying like crazy these last few months, ha ha:))

[jlondon] 12/11/2021 15:51

XTR share price advertised 5.8p to sell and 5.9p to buy +5.13%.
[Post XTR RNS Racecourse, Hole 11 assay results]

Live quote: To buy 5.888p and to sell 5.8182p - the SPREAD has narrowed quite a bit
since an hr or so ago.

Fri, 12 Nov 2021 @3:50pm
--
P.S. From my last post above #118/120 re: ASSAY RESULTS FROM HOLE 11, RACECOURSE and the CROSS-SECTION CHART, does Racecourse
have potentially the 2MT needed for the AA buy-back OR NOT?

We, shareholders will find that out when the full results are released of all 20+ HOLES at Stage 1 drilling at Racecourse.

SE ANOMALY-RACECOURSE
Hole 25 visuals has already been released. So, this is a NEW SECTION of Racecourse ie ANOTHER ANOMALY.

$36,000 Question: Is the Racecourse stage 1 drilling area ENOUGH for the 2Mt needed OR not quite enough and will have to INCLUDE the potential or otherwise of the SE Anomaly and of FOOTROT or even White Springs to come?

Ahead of the curve, one for each one to think it out or if they have geo software to input and do some geo modelling but that may or may not turn out correct as one exploration geo did software modeling but it did NOT turn out right at Greatland Gold as the data now shows ie under-estimated. This geo is a poster on an Australian site.

[papillon] 12/11/2021 15:42

From the lse bb. Good looking chart. I depend on knowledgeable posters, like TCofMC & TD and the charts because my mining knowledge is very poor.

"Gheko

Posts: 356

Price: 5.80

Strong Buy

Chart strength Today 13:47
Zak Mir covering XTR today and in chartist terms we have a good consolidation where we are just south of 6p level. If 6p broken the trend line is up as high as 9p in the next month.

So 50% upside just there and would still be vastly undervalued. Onwards and upwards."

[jlondon] 12/11/2021 15:04

Xtract Resources Hole 11 results just out, Fri, 12 Nov 2021.

PER THE MODELLING CHART/RESULTS:


See colour code ie green for mineralisation, yellow for stronger mineralisation and pink for intrusion.

-----THIS IS ONE SECTION OF RACECOURSE-------


S.E ANOMALY
Hole 25 drilled and results a day of so ago.
So, ANOTHER SECTION to come at RACECOURSE.

FOOTROT
Also, in the licence area.

WHITE SPRINGS
Mentioned in a previous RNS relating to Bushrangers-Racecourse?


A MIS-PRICING?
Currently, 5.7-5.9p and in the £40m + area mkt cap.
So, right pricing, wrong pricing or somewhat right pricing?
Answers on a postcard for the FUTURE.

Fri, 12 Nov 2021
J.London ADVFN. -Xtract Resources.

[the count of monte_cristo] 12/11/2021 14:48

My favouite quote ever on the ADVFN bb's are when a price drops and lame PI's start posting messages like "what's going on" or "Somebody must know something!". It's absolutely brilliant entertainment when I see such panicky posts, usually it indicates an excellent buying opportunity:)) Things change but they stay the same, human nature is the same as it was 2,000 years ago when it comes to speculation.

[the count of monte_cristo] 12/11/2021 14:43

I actually love these periods, the periods where the stock isn't really moving and where most PI's and the market are still hesitant and unsure about things. But when you have absolute faith in what you believe will happen and continue buying and when all signs indicate the resource is going to get exponentially bigger and the more they explore the more they find. It's why I love the resource sector.

Chesty, most resource stocks saw similar price actions during the summer lull. But I don't see it like that, I see things differently to most, rather than it being "an awful slow drop", it was actually an awfully great opportunity to keep adding and building ones holding. You can say the same for most of the precious metals stocks right now. Investing is in many cases about opposites, when people are depressed you should be happy, when they sell because the stock has hit bottoms you should buy. I use these ADVFN bb's as a psychological gauge which helps me with my buying and selling decisions. Human nature never changes, when this stock eventually starts to motor people will be kicking themselves for not adding more, etc.

[chesty1] 12/11/2021 14:16

Just glad we're slowly pulling away! Happy to see after the awful slow drop over the past 6 months

Bring back the glory days

[goforgold1] 12/11/2021 12:51

Well today looks like there is a buyer now. Been buying 100,000 all day which has helped to keep price up today. Hopefully he buys up all the 1.25p warrants they need to go before this moves past 6p .. But there are millions of them

[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.