Xtract Resources Share Discussion Threads

[steve4077] 07/12/2021 00:01

Also, the buyback option is only triggered by the declaration of a 2mt+ JORC or a decision to mine. Until that happens, AA cannot do anything. As the buyback amount goes to an independent expert, it is in XTR's interest (and ours) for them to prove up as much as possible before declaring that JORC.

[steve4077] 06/12/2021 23:57

Just to inject some actual facts into the constant asitis disinformation campaign, here is a quite from the RNS on the buyback: "Under the terms the Bushranger Acquisition agreement, if a deposit of greater than 2 million tons of contained Cu equivalent (e.g. 450Mt @ 0.45% Cu equivalent) is ultimately identified, Anglo may buy-back 80% of the Racecourse deposit at fair market value as determined by an Independent Expert in accordance with the JORC and Valmin Code.". There is of course no stipulation on grade - just an example calculation. Based on the open put model - also via RNS - economic grade is 0.15% or above. I am sure asitis will say that isn't good enough, so you will just have to decide if Colin Bird's stalker or the Nomad is more likely to present a more accurate view of reality.

[guyshelby] 06/12/2021 22:45

The terms of the agreement are to buy back into a joint venture! No surprises there. AA will not want just 80%, if they want it, they will want it all. The agreement lays out a fair foundation for both parties.

[lurker5] 06/12/2021 21:42

Quite possible AA will farm in to help prove up (if it thinks enough potential) - rather than buy outright. CB will just have to take it or leave it.

[guyshelby] 06/12/2021 20:39

Likewise tdm I was actually referring to estimated grades they would attribute to the ore body with varying cut off values. kind of go hand in hand, It’s only been a couple of working days since 28 and 30 were reported seems longer but I’m hoping this week to land the update.

[the diddymen] 06/12/2021 19:50

GS, probably not clear in my post but my use of the term 'conceptual estimate' refers to the ore body only. The recoverable cu will have to wait until the assays next year.

[papillon] 06/12/2021 19:23

Here's GuyShelby's reply to you TD. I've copied it from the other thread.

GuyShelby6 Dec '21 - 19:06 - 179 of 180
0 0 0
tdm- yes you prob right, just feel there’s no guarantee the market will receive an estimated resource in a way that will sustain any real rerate. But that aside, it will be helpful for many that are looking on.

[papillon] 06/12/2021 19:17

GuyShelby, The Diddymen posts on the other XTR thread. I don't believe he reads this thread because of Asitis.

[guyshelby] 06/12/2021 19:06

tdm- yes you prob right, just feel there’s no guarantee the market will receive an estimated resource in a way that will sustain any real rerate. But that aside, it will be helpful for many that are looking on.

[guyshelby] 06/12/2021 18:00

Will not necessarily require a measured JORC, the infill drilling throughout phase 2 should convert to indicated. The very nature of a porphyry with its bulk average grades, there will be good geological confidence without the need for measured.
It will prob be discounted to a degree to reflect this. There was a comment from CB at AGM that it will not even require pfs or dfs.
Interpret as you wish as after this within the drilling licence update RNS it goes on to say 2024 gives us plenty of time for further exploration and to complete our feasibility study programmes.

[asitis] 06/12/2021 15:41

What will be the cost of getting a measured JORC. Without that no major will go anywhere near.

[the diddymen] 06/12/2021 15:29

GS, in my view they are better to interpret and communicate the data as soon as it is available.

There is a basic rule in business that if there is a fundamental change in the business, then you should tell the relevant people. CB estimates indicate a 6 or 7 fold increase in the resource, and that to my mind is fundamental.

It should be communicated because those interested can start to get their minds around the ramifications. I equally think that from an investor perspective the market should have the best information that is available. The market is unable to digest the RNSs, and a 'conceptual estimate' would give a guide to the direction of travel.

I think that it is on the way.

[guyshelby] 06/12/2021 15:11

Why on earth would a major mining company bite now? They don’t prove up assets they buy them
Believe me, racecourse will be realised and sold.

[asitis] 06/12/2021 14:40

GS > why do you think AA haven't bitten ?
I agree that the current shareholders will be diluted out before a major steps in to mop up.

[guyshelby] 06/12/2021 14:25

Any major first and foremost look for massive resources with consistent average grades they can mine for 20+ years. Cut off grade will be sub .15 due to low capex and easily recoverable. Exactly what will make this resource economical. This is looking to be an enormous multi porphyrytic system comparable now with cadia. Is quite naive to think this will not need further funding. African income will be meaningfull, further JV’s with little start up capex from income not capital will help toward oz drill efforts too.
The buy back agreement is irrelevant now, just gives AA first refusal

[asitis] 06/12/2021 13:58

How many are going to fall for the amount of rock announcement then ? The release will say nothing about the average grade being below the 0.45% that AA want but may be enough to get another placing away ?

[guyshelby] 06/12/2021 13:29

In his Galileo interview on the 8th nov he talks about xtract too. Mentions the updated resource model is to be soon and can tell the market how many tons of rock there are, but can only tell the contained copper content when the assays are in. I interpret that, the model should be anytime now as the last holes inside the conceptual pit 28 and 30 are reported complete.
They probably better off doing a definitive model when all data is in

[the diddymen] 06/12/2021 11:27

It looks as if XTR are accruing assays at the moment. They should not bust a gut to RNS because unless there is an absolute blinder or duster it will have little impact on the market. The assays will come into their own next year when the updated model should be ready.

The estimated size of the ore body is the only question that seems relevant to the market at the moment.

[asitis] 06/12/2021 09:02

Also from the agreement is that AA want not just 2 million tons but that amount from 0.45% ore ! The lse rampers fail to mention that. Bird is drilling soil to try and get that but even he will have to accept that he doesn't have the amount that AA want at the grades they want. Oh dear.

[guyshelby] 05/12/2021 17:06

Asitis nice to see you are doing some research, now taking quotes from the buy back agreement ;)

[asitis] 05/12/2021 11:29

Its not me twisting the fact that the share price represents the reality that bushranger has not been monetised to deliver shareholder value. Phase 1 complete. Phase 2 complete. Not enough cash to see through a meaningful Phase 3 that would have any chance of increasing the JORC to measured resource. So as Birds one time favorite poster has pointed out the value to shareholders could be 5p. This could well end up going the way of Chepica, Okief and Kalengwa (cash raising dilution to benefit those in the know but nothing for PI's).

[lurker5] 04/12/2021 21:34

The LSE BB allows posters to have 'other posters' they disagree with to be 'cancelled'. So its not worth taking any notice of it (or posting on it) except to check the general ramping quotient that might be distorting a share price.

[p5tvr] 04/12/2021 00:15

pap was 102 or 106 your top up? how much does that make now? 1000...you big risk taker!!

[papillon] 03/12/2021 12:50

I had another small top up yesterday. The Heikin-Ashi candlesticks for the last 2 days make me suspect the XTR share price has bottomed. share price needs to break resistance @ 5p, then @ 6p.