Xtract Resources Share Discussion Threads

[guyshelby] 23/12/2021 20:13

That is exactly the point gfg, there is no urgency to ramp as before. Without the historical funding through share allocations, that brought satellite mines to production we would not be in this strong position now (almost)
Resources are mined on consistent grades in bulk, exactly what racecourse has, it will be economically viable tier 1 mine, possibly 2, tier 1 mines with central plant to service both concurrently. Ridiculously low start up CapEx in a very cheap jurisdiction that will make this project so economical and desirable for any major.
The 2mtCuEq threshold will soon be a distant memory as the resource doubles, with very strong geological evidence now that Ascot will prove to be viable so why would he need to mention AA, the company are not interested in a quick sale now, a deal would include Ascot and any other targets that have been drilled and when xtract are happy to stop exploration when economics or optionality dictate and then, approach AA.
Shares in issue are totally irrelevant, come on! MC is the driving factor, and sub 40m there is massive upside potential.
The impatient want estimates, the resource estimate will come when all data is collated, no sooner, as it would appear now, at the end of this exploration phase.
The jury is out on a further raise, dependent on the level of drilling, needed, amount of revenue, etc
Indications are still ‘not’ but let’s not be naive. In case you didn’t know, there’s two type of fund raise through share allocation, first where a company is doing so just to survive or cover its debts. Other is to raise additional capital to re-invest in itself to fund ‘growth’ opportunities.

[goforgold1] 23/12/2021 18:34

Put it this way if drilling was that fantastic on levels of grade . Colin would be first ramping his company up like he did early this year to get the funding . Has he mentioned AA lately NO. Is there billions of shares YES . As you say RESOURCE ESTIMATES ARE NEEDED .I will guess they will come when Colkn needs more money to soften the blow . That's how he works

[lurker5] 23/12/2021 18:04

And if they don't follow the guidelines for reliable resource statements, how do you suppose the market will react ? Get real.

[jeanesy] 23/12/2021 17:37

What is needed here is a resource statement now imo. The market has seen and reacted to lots of drilling reports. Surely they have drilled enough to give us an idea as to how much copper they have found so far ?

[guyshelby] 23/12/2021 17:36

GFG You kind of sum the wider markets perception of xtracts task., so it may seem. But not wanting to sound condescending, why would “all” holders of 1.25p options feel the need to sell now but any serious investor would base their position on having the fully diluted total of billion or so shares in issue, they may have a drag on share price but ultimately that’s all. Fundraising through share allocation is part and parcel of exploration mining to get into a position where an asset can bring revenue to support exploration in this case. Very close now to being cash positive when Manica produces to add to alluvial income. (See Empress update above) Estimated total 750k monthly by end of Q1 and rising with yearly company OpEx 500k ish.
Once cash positive there are many more options available including time, to bring the resource to market.
Hope you get your 3.5p will you buy then I take it? I know I will buy a shed load more.
I agree the risk reward is much better now
All the best

[goforgold1] 23/12/2021 16:40

If you say so . Not even a Million pounds . After all this time . Took 10 million over a few months on the back of Bushranger project . Still years away expenses will be getting more and more now. Drilling does not come cheap AA buys it fine if not . Then what finance it himself . No news on recourses loads of shares to get rid of from 2018 still at 1.25p not exactly reassuring is it . I watch wait goes to 3.5p i will but as risk reward is better now. I wait will need more money by February March IMHO . Colin likes to Drill get funding Drill get Funding been doing it all his life and making a fortune of it.

[onedayrodders] 23/12/2021 14:29

Just bought myself a nice xmas prezzie in the sales ... 104k XTR shares

Fully loaded for what promises to be a great 6-18 months

[oliversydney] 22/12/2021 16:45

Looks like the market makers want the shares so I wonder why ?

[guyshelby] 22/12/2021 08:55

Latest reporting on funding and Manica. Not historical figures.

XTR 30th September RNS
"Upon reviewing those cash flow projections for the forthcoming twelve months, the Directors would not expect for funds to be raised through equity raisings, or require additional financial resources in the twelve-month period from the date of authorising the consolidated information to enable the Company to fund its current operations and to meet any future commitments in the event that the Company decides to continue with further exploration work including drilling campaigns in Australia and Zambia.

"

Empress 15th November RNS Manica 
"The mining contractor has been mobilized and preparations are underway for commencement of mining. MMP reports it expects to commence initial production in the first quarter of 2022. Empress has completed two site visits in 2021 through a third party engineering firm, and receive weekly updates from management on construction progress"

Edit- is supportive of your post avesome, not critical which it sounds.

[avsome1968] 22/12/2021 07:39

GGG

Same same RNS drilling holes. coming back for money soon for the next drilling phase . 100% coming . Not cheap to drill holes ha ha plus he has been using that money on other projects because none are producing CASH

$1.2m a year dont you read anything?

Manica Gold Update

The Board of Xtract Resources Plc ("Xtract" or the "Company") announces the preliminary unaudited results for all alluvial and hard rock mining contractors for the Manica Concession for the three-month period ended 30 September 2021 (the "Period").


Highlights

-- Total mining contractor gold production of 49.34Kg for the quarter, equivalent to approximately 1,586 ounces including initial hard rock production from Guy Fawkes of 170 equivalent ounces of gold

-- Total of 13.60Kg (equivalent to approximately 437 ounces) attributable to Explorator
-- Value of Explorator share of gold produced US$784,998
-- Gold sales in period of 152 ounces
-- Combined attributable revenue to Explorator from gold sales and other income for the Period amounted to US$373,781

[guyshelby] 21/12/2021 23:39

“In addition, Argentina’s permitting process and Lundin’s planned review of the project design/economics could pose further challenges.”

Josemaria resource has been suggested as a fair comparison that racecourse with its additions could hope to be sold for , if of course it amounts to the 1B that Josemaria has. Quite honestly, that will be the only real comparison, it swings otherwise both ways, oz with its preferred politically mining friendly region and low start up CapEx Josemaria has 197mt measured and 815mt indicated/inferred with DFS, is far more advanced resource than racecourse will be proven to it seems. If CB’s words are to be believed. He has said on a couple of occasions that PFS/DFS is not a prerequisite to a sale. (Courtesy captainbob from AGM) Leading me to believe that any of the resource will not need to be proven enough to convert from a measured JORC to proven that a DFS would require. His other comment that “the treasury is adequate for what we need” would support this theory.
So it does look good, in the right copper space and in the right place with a CEO that has the experience of bringing a resource to market and selling.

[papillon] 21/12/2021 22:23

21-Dec-21 13:42:11 4.65 107 Unknown* 4.98 O
21-Dec-21 13:02:00 4.65 824 Unknown* 38.32 O
21-Dec-21 12:53:25 4.65 107 Unknown* 4.98 O
21-Dec-21 12:47:06 4.65 215 Unknown* 10.00 O
21-Dec-21 12:46:40 4.65 107 Unknown* 4.98 O
21-Dec-21 12:41:03 4.65 215 Unknown* 10.00 O
21-Dec-21 12:40:44 4.65 107 Unknown* 10.00 O

Strange sequence of trades after midday. All for tiny amounts of shares. The number 107 and 215 of shares traded keeps cropping up. I wonder why? 107 is repeated 4 times and 215 twice. All marked "unknown". Does it have some significance? A signal?

[zero matrix] 21/12/2021 20:02

I don't expect any further updates until the new year now. It will be thin trading over the holiday period. The culmination of a very good year for the company that has laid the groundwork for exciting potential in the coming year.

[the diddymen] 21/12/2021 17:13

GS, I suspect that XTR is one of those shares which sits there on the investment radar of potential investors. Shareholders like myself would say that we have moved substantially with the second phase of drilling. Racecourse is on track (haha) for 2MT contained Cu and Ascot looks interesting. Whether that constitues a value of 20, 30 or 40p per share is irrelevant until either there is a between the eyes blockbuster something, or XTR starts to talk about disposal.

I thought that the news would have moved the market cap on, but the 'on the radars' have it for this year. The fear of losing a profit is what will drive the price next year and that tends to be unpredictable and volatile.

[guyshelby] 21/12/2021 16:43

Of course paps that is very true, my original post was born from the frustration of that previous rise not being sustained and feel that similar good news at this stage would meet the same fall back. This range we are stuck in would hope would be short lived once the financial situation an fundamentals improve until it cannot be ignored.

[papillon] 21/12/2021 15:58

The XTR share price spiked up by over 25%, GuyShelby, less than 2 weeks ago on what was perceived as an excellent RNS.
The GGP share price spiked up by over 20% on today's RNS, before falling back on profit taking.
In a "thin" market, with lower trading levels, spikes up can be increased in size.

[guyshelby] 21/12/2021 15:51

Xtract are in a different space for comparison, still relatively early in its discovery phase and with the uncertainty of funding at present is unlikely to attract the wealthy or institutions that will take bigger positions. Is very speculative still, until it receives solid income from satellite mines and they overhang from prospect ore shares are cleared. Was always going to put the brakes on any sustained rises, even if it were ‘another’; good one. Have had some solid news recently, that have bought in some buyers, but with that financial uncertainty it was always going to impact. The geology and the ability of the geologists is not in any doubt, but there are going to be some mediocre results as the outer margins of the intrusion are delineated as was todays RNS.

[papillon] 21/12/2021 14:57

The GGP share price has responded to good news today, GuyShelby. I've no doubt that the XTR share price would have similarly risen if today's RNS had been perceived as good news by the Market.

[goforgold1] 21/12/2021 14:47

Same same RNS drilling holes. coming back for money soon for the next drilling phase . 100% coming . Not cheap to drill holes ha ha plus he has been using that money on other projects because none are producing CASH

[guyshelby] 21/12/2021 12:50

With the outlook at present in short term economic climate, I doubt it would matter in whatever news was released would sustain any kind of rise. Looking glum all round. Get the silly season out the way, update on revenue streams, definitive resource model with open pit extensions from this exploration phase. Luckily going into late feb /March coinciding with general upturn in investor confidence. Still early days and on track, even todays RNS added value.

[papillon] 21/12/2021 10:59

👍 Thanks for the tip. I see the KRPZ share price is showing signs of life.

[asitis] 21/12/2021 10:29

Sanderson capital may be gearing up for some more action ? Were they involved in the forward selling of placement shares effectively controlling the share price ?