Xtract Resources Share Discussion Threads

[papillon] 06/1/2022 23:54

There were a couple of fairly large trades whose reporting was delayed until after the 4:30pm close, TCofMC.

06-Jan-22 15:48:57 5.5533 324,294 Unknown* 18.01k O
06-Jan-22 15:52:26 5.5001 168,073 Unknown* 9,244 O

Though they were classified as "unknowns" at those prices and at the times indicated they would have definitely been sells.

[gozo] 06/1/2022 23:37

Moir has been with the company a long time....when it was an oil company.....think the ceo was Andy someone? Pretty appalling performance by all involved if I remember correctly....I certainly lost money. I am personally pleased to see Moir step down and cut that final link to the old days.Onwards and upwards

[jezzoo] 06/1/2022 20:46

Tumbleweed

[all in eol] 06/1/2022 18:15

Page 39, paragraph on neds. No surprise.

[guyshelby] 06/1/2022 17:31

TD very good points, I would hope there would be an opportunity to stay in the region.
I don’t think it would come down to the ability to transfer from prospectore to xtract. I was considering wether or not Anglo would be willing to strike any kind of deal that does not include the adjacent tenements.
After all, they almost envelope EL5574 making new road access, haul roads, and utilities to service processing plant,difficult to plan without understanding the geology of the surrounding area knowing if any further systems would lie under the roads etc.
This situation must be in the T’s and C’s in the buy back agreement. I’m sure the agreement in the public domain is just summarised. If not, the potential of striking a deal giving xtract exploration rights in a JV with Anglo who would pay a premium on top, for EL4475 with a further buyback agreement in place would ensure Anglo had guaranteed ownership thereafter.
Am very keen for deep drilling at eureka to get under way !

[papillon] 06/1/2022 16:56

Recently I bought small amounts of PXC and ARCM. A mistake on my part. Fortunately I dumped them on Tuesday so my losses were small.
PXC intend to open pit mine for copper later this year, but have yet to borrow (or otherwise arrange the finance) the money necessary to proceed. The PXC share price rose to 80p not so long ago, but today is back under 50p. Why, I wonder?
The ARCM lse and advfn bb's seem to be populated by conspiracy theorists. They appear to be blind to the continuing fall in the share price Why is it falling? I thought it might have bottomed, but I was wrong.

[asitis] 06/1/2022 16:10

One by one the board of directors are jumping ship. Oh dear.

[lurker5] 06/1/2022 14:48

Perhaps Moir was happy to stay on and take his cosy sinecure fee - but CB said 'no more '- causing a bit of rancour !

[papillon] 06/1/2022 14:40

According to the trades page on the lse web site the 300k trade @ 5.8p was later cancelled, TCofMC. So it appears there were no 300k trades.

[the count of monte_cristo] 06/1/2022 14:34

Time to move on, he has been at the company a long time. Nothing concerning at all in my opinion, not even worth spending time discussing it. People always make up the worst stories when a director leaves:) But how many times have we all left companies and what were our reasons? Better pay, new challenge, bored, old and want to retire, didn't want to commute to an office, etc.

Am I correct in thinking those two 300k trades for 5.8p are both buys?

[lr27] 06/1/2022 14:20

I do wonder why he has gone though?....has there been a disagreement between him and CB over how the company is being run/or the news being released to investors - just asking?

[oliversydney] 06/1/2022 13:59

He only had 40000 shares so hardly committed so no great loss and at least will save on directors fees and do wonder why he was On the board

[papillon] 06/1/2022 13:27

What is surprising about today's RNS is it's terse nature, since usually when a long serving non exec director departs (for whatever reason) they are thanked for their service. Also why was he, an oilman, still on the BoD after all these years?

[zero matrix] 06/1/2022 12:39

XTR was originally cambrian oil and gas with Peter Moir the chairman. No longer relevant or required.

[the bull] 06/1/2022 12:31

This was when he came on board

[picardy] 06/1/2022 11:48

Any comments on the director change RNS? Good riddance, me thinks, wasn't he a petroleum guy anyway?

[arcadian] 06/1/2022 10:58

I still keep a few having had 10000 at one point so I understand the pain of losing
large sums although others have continued to prove my bad judgement down the years.

[papillon] 06/1/2022 09:25

Yes, Aracadian, Baltimore Technologies (BLT) was the "poster boy" of the dot com bubble over 20 years ago. For a short period of time it was in the FTSE100. It peaked at £140 intraday before it's rapid decline to penny share status in just a few years.
I even remember it's previous name, Zergo holdings, before changing it's name to Baltimore.
As TCofMC states people don't change. Irrational financial bubbles occur all the time and always will. People are basically greedy so get sucked into these bubbles. It's best to heed the old adage; if it sounds too good to be true, it probably is.

[arcadian] 06/1/2022 09:09

For me it was Baltimore some years back that proved that getting out is a better skill than getting in.

[papillon] 06/1/2022 09:03

Yes, I remember the Poisedon bubble well, having been around at the time. Completely irrational behaviour on the part of investors. It reminds me of the current crypto bubble. SYME is yet another current example.
Bre-X was a bubble based on blatant fraud.

[the count of monte_cristo] 06/1/2022 08:34

Just started reading this book about the Poseidon bubble, one of THE most famous mining bubbles. Helpful for anyone interested in understanding speculative bubbles and manias in mining stocks. My favourite mining bubble and story is the Bre-X scandal, Matthew McConaughey was in a movie called "Gold" about this story, loosely based on the true events. Stocks, companies and technologies change, but people stay the same:)

[the count of monte_cristo] 06/1/2022 08:28

Yes, I foresee further declines as the herd instinct kicks in, a self fulfilling prophecy. Most of the the time it represents a good opportunity to pick up stock cheaply. POLY is also falling. Isn't all of this related to higher fuel prices? Expect similar such issues globally because the oil price is going much higher this decade, the entire sector has been underinvested for years. Big oil have been going on about transitioning away from oil in order to keep their shareholders happy, but the fact is that the world still runs on oil.

It's one thing building a billion dollar mine in a desert...on top of a mountain, with no water and then another to do all of that and sink in billions and maybe 5 years or a decade to construct that mine in an iffy South American country with potentially poor infrastructure. CB keeps banging on about how great it is because it's basically in the back garden of Sydney for a reason

[arcadian] 06/1/2022 08:17

As exemplified by my CAML shares this morning.

[the count of monte_cristo] 06/1/2022 07:56

Arcadian, thanks for sharing the link. I think once we start getting numbers and updates on our resources things will really start to change, right now it still feels like we are way under the radar. Also, most of those mines are in difficult geographic locations in difficult countries.

[the diddymen] 06/1/2022 07:17

GS, just another couple of thoughts on the sale of Projectore. Firstly other tenements could be transferred into another company or back to XTR they need not be sold with Racecourse/Ascot. Secondly there will be an intercompany loan account between XTR and Projectore. Part of the consideration for the disposal could be repayment of the intercompany loan account back to XTR by the acquirer. All the cash costs of the XTR team plus the drilling costs would then be in the kitty for another drilling campaign elsewhere. IOCG?