Xtract Resources Share Discussion Threads

[asitis] 20/12/2021 09:59

Placing incoming ?

[the diddymen] 20/12/2021 08:58

CMC slide 10 gives a bit of context!

[the count of monte_cristo] 20/12/2021 01:19

See slide 8, Cadia also seems to be a bit "here and there":))



Cadia is the largest alkalic porphyry system in the world with multiple deposits

• >50Moz Au and >9.5Mt Cu 2
• Australia’s largest and most cash generative gold mine
• The worlds largest alkalic porphyry system comprised of a series of porphyry deposits
• Flagship mine of Australia’s largest gold miner

[jlondon] 20/12/2021 00:13

Colin Bird Interview, Episode 199, 10 Dec 2021:

"Confident Central Pit ore body exceeded."

"2Mt - Double Ascot." [Ascot - S.E. Anomaly].

Kindly check.

[guyshelby] 19/12/2021 19:48

You may well be right lurker we have it compared with a cigar, various fruit and veg, mammalian and some inanimate objects, but I’m going for It resembling mr blobby with his big sausage fingers having a lie down.

[lurker5] 19/12/2021 17:41

Porphyrys come in all sizes. Racecourse so far looks a bit here and there, or possibly not the usual shape (and with 'fingers') needing more drills to define the edges. In any case, CB seems to be planning a lot more than 23

[jlondon] 19/12/2021 12:27

I took Dr Rohlach's view as general application as well.

If ,in particular, then Porvenir, ---a more surface prospect--- has just announced a Maiden Resource Statement 3 days ago at 396.8Mt , cut-off 0.16% cu eq over 650m strike.
[Ref: Kitco News]

I have been to the Solgold website at hxxps://www.solgold.com.au and looked at announcements. On 6 Dec 2021, there was an RNS with the title: Porvenir.
Solgold mentioned Hole 19 in particular and stated drilling of Hole 26 will commence shortly from completed holes 23-25. No mention of in-filling?

In the case of XTR, there has been a historical JORC of 70Mt under another ownership. XTR drilled 20 holes in Phase 1 and another 20 holes for Phase 2 [40 holes in total].

At the moment, I understand it is up to the last reported Hole 36 at Racecourse, Bushrangers, Lachlan Fold, NSW, Australia [includes S.E Anomaly initial drill. New name Ascot]. That was a few days ago.

Sun, 19 Dec 2021.

[papillon] 19/12/2021 12:25

O/T


It's getting really bad on the gas front. Might have to wear thermal underwear and an overcoat whilst sitting indoors watching the TV. 🤣🤣

[lurker5] 19/12/2021 10:27

Solg's Alpala resource is concentrated in a relatively small area and a high grade central core. Bushranger is far more widespread and will need rather more drills than 18-23

[jlondon] 18/12/2021 19:21

Xtract Resources
Racecourse - H o l e 3 6/40.

BIG PICTURE:
Dr Rohlach, Solgold's former Chief Geo and PhD said that 18-23 holes will suffice
for a Maiden Resource Statement [MRE].

So, getting close to end of Phase 2 drilling [Phase 1 20 holes], 20 holes.

Sat, 18 Dec 2021

[the diddymen] 18/12/2021 07:41

Only a thought. CB's last RNS quote said:

"It is evident that the geophysics is greatly assisting our modelling and the suggestion is that the Racecourse deposit swings to the south in this area, and further drilling towards the west will test this theory."

Below is one of the maps with the drill plan imposed on the geophysics.



We have not really discussed the left lung as I call it, but it would certainly sit with Racecourse swinging to the South and West.

Idle speculation only.

[papillon] 18/12/2021 00:11

TD is correct. XTR needs some II's and HNWI's to take big share stakes. If you look back 12 years to the First Quantum (FQ) takeover offer for KIW, FQ made an offer of 75p per KIW share made up of FQ shares and 37.5p per KW share. The bid was worth £157.6m ($260m) and was at a 41.5% premium to the previous days closing price for the KIW share price The bid was certain to be accepted because the large shareholders with 76.05% of the shares had already accepted the offer. The big shareholders included LSE quoted investment trusts, CYN & GCL.
XTR currently doesn't have any heavyweight shareholders apart from Colin Bird himself and it is "his" company so he's biased.

[jlondon] 17/12/2021 23:12

"Kincora Copper reports further gold results and confirms potential open pit."-Stockhead.com.au, 7 Dec 2021

"Top HIT amongst other included ----42m @ 0 . 4 g/t au gold and 0. 1 2 % cu copper from 358m.

TTDD014 returned the WIDEST mineralisation todate at TRUNDLE Park prospect & Trundle project.

Working model - Open pit and Underground.

..further confident that it is close to the CORE of a LARGE PORPHYRY intrusive system.

DUE TO THEIR S I Z E, with BROAD INTERVALS and GENERALLY LOWER GRADE, copper porphyry style deposits are responsible for 60% of current world's WORKING MINES...
will play an increasing ROLE to meet a FRACTION of the FORECAST demand."

Comment:
Kincora-John Holiday is the Technical Director, one of 3 co-discoverers of Cadia Ridgeway. In an earlier post, it was said Trundle hopes for a large porphyry.
Just looking at 42m interview at above grades vs the XTR intervals...is of interest. Both at Lachlan Fold, NSW, Australia -Trundle is nearer North Parkes whilst XTR is nearer Cadia Ridgeway.

[jlondon] 17/12/2021 23:12

Error-came out twice.

[lurker5] 17/12/2021 21:02

GFG - we all know that. So why keep repeatng it. Why not steel yourself to post only when you have something to contribute that is new to the rest of us.

[guyshelby] 17/12/2021 20:46

COMC- would agree that all the resource found within the tenement will be included in buy-back. There was a post recently, cannot recall where I see it stating how the wording in the agreement could be interpreted that it was just racecourse deposit.
I have considered the other tenements that are not included in the agreement, could the BOD use them in negotiations in the sale of EL5574 to get an extra premium paid, with a deal struck where a new buy-back agreement set up for the other licenses. Would be huge benefit for the longevity of xtract and exploration in the Lachlan belt if xtract could retain exploration rights. Or, would xtract consider entering into JV with AA, assuming of course they take up the offer on racecourse and are willing to move into the area. As you say if AA do, then they will want it all, one way or another

[jlondon] 17/12/2021 18:42

"Rio Tinto reveals Maiden Resource at Winu and new discovery."-28 July 2021

"503Mt @0.45% cu EQUIVALENT with C U T - O F F at 0.2% cu EQUIVALENT."

Comment:
Rio's Winu has been described as world class in the Paterson Province, Western Australia. The cut-off is 0.2% cu equivalent = copper + gold etc.

Alkane was a top riser +23% with the results as above described in the ANN as high grade.

[asitis] 17/12/2021 17:47

So 3 dusters and a little deflection attempt by throwing in another hole drilled into the current JORC resource which obviously has some mineralisation as its within the already identified outline mainly covered by the current JORC !
Unable for whatever reason to announce the required amount and grades from the drilling paid for by dilution, a new porphory will now be the latest and greatest thing to spend yet further shareholders funds. Is it now 2 birds in the bush and no birds in the hand ? Maybe the shareholders feel they are getting value by waiting for the next non share price lifting RNS ?

[papillon] 17/12/2021 15:43

I was correct last night. Yesterday's late afternoon rise was because an RNS was on it's way on Friday! News of an RNS to be issued next day always leaks out.

[the count of monte_cristo] 17/12/2021 15:04

I think so, I presume Bushranger is everything contained within license EL5574. But, the other three contiguous licenses, which we haven't even touched, are not.

I think it's immaterial anyway because when it comes to sale time CB will most probably sell everything, AA would want it all.

[lurker5] 17/12/2021 14:55

Isn't 'Bushranger' the whole property and not just 'Racecourse' which is what, with Ascot, we're still drilling now

[chesty1] 17/12/2021 14:50

This one does like a friday update! Just hope my WSBN keeps the market updated along the way as CB has done for XTR!

Happy Friday folks looking solid for 2022!

[the count of monte_cristo] 17/12/2021 14:31

Worth thinking about, I'd also like to know peoples opinions here.

Licenses EL8305, EL8306 and EL8585 may not be part of any sale/deal with AA/interested party when it comes to it.

Further;

I am unsure whether the Ascot prospect would also constitute part of any deal, because the deal only states Bushranger needs to hit the 2mt benchmarks. So, maybe if any interested party wants Ascot they will therefore need to pay more.

If they want everything, then they need to pay for it and pay BIG.

[the count of monte_cristo] 17/12/2021 14:26

That's what I thought. Most investors lose because they simply don't have the patience to let their investments work. Been thinking about this a lot this year, then recently listening to Rick Rule and Jim Rogers they have been saying the same thing.



Anyway, keeps on getting bigger and bigger. Much more to be found because they haven't even touched licenses EL8305, EL8306 and EL8585. It is quite possible that further deposits maybe found on-trend with Bushranger especially in licenses EL8305, EL8306.

For anyone who might be fairly recently invested in XTR please see slides 4, 5 and 6. Especially slide 6.