Xtract Resources Share Discussion Threads

[papillon] 21/1/2022 10:48

"If we break 6p it could be blue sky"

Not for some holders, TCofMC! I was reading the lse bb yesterday and there were still holders from the old O&G days who would need 45p and 60p to break even!!

[picardy] 21/1/2022 10:40

Nice buying, is FOMO beginning to kick in for this one?

[the count of monte_cristo] 21/1/2022 10:34

If we break 6p it could be blue sky.

[denjon] 21/1/2022 10:24

A few buys at 6p starting to show. A tad more buys and perhaps today we are through this difficult ceiling (once again)!!?

[the count of monte_cristo] 21/1/2022 10:20

Indeed I do. Definitely high risk for sure.

[papillon] 21/1/2022 10:11

O/T Best of luck with the Falklands O&G, TCofMC. Strickly for gamblers only. I remember losing money on Desire Petroleum (DES) Remember them from the late '90's? Went to £5 per share on speculation (the Falklands bubble) before ending up as a penny share.

[qazwsxedc69] 21/1/2022 09:59

Yes independently arrived at. They have a VERY short window (8-10 days from memory) to pay up or Colin can start hawking it around to the highest bidder.

[kangaman] 21/1/2022 09:52

Silly questions time, AA have first refusal whats to stop them buying at under market value, is the buy out value independantly arrived at ? can their offer be refused ?

[the count of monte_cristo] 21/1/2022 09:41

OT - On the premise that a rising tide lifts all boats, you may have noted that BOR went up 70% yesterday, the next Falklands boat to rise is ARG. Capped at 3.5m GBP, high risk DYOR. I had to take a nibble this morning, with a small sale of XTR.

[papillon] 21/1/2022 09:34

You've done your homework, TCofMC. Many thanks for sharing it. Sold some of my gas shares this morning to buy more XTR.
I wouldn't be surprised to see some profit taking today. After all the share price was a tad over 5p on Tuesday. bwtfdik?

[the count of monte_cristo] 21/1/2022 09:14

Good morning XTR:)

[chris cat] 21/1/2022 08:31

Cheers Count,

[the count of monte_cristo] 21/1/2022 08:17

I suggested the movie, it's based on the Bre-X scandal.
1) AA are waiting for us to do all of the hard work, then they will buy or pass it over, having seen the movie you should now know this is how the big guys work:)) Currently the AA situation means no other big players would be interested, unless AA pass this up they won't get a chance here.
2) There were some Edison broker notes on the website, but they are out of date now and I'm not sure they are still on the website because I can't find them.

[chris cat] 21/1/2022 08:11

CMC, thanks great insight. I actually watched that film "Gold" last night after someone suggested it on here. Good film and pretty educational now I hold XTR.
Couple of questions - 1. If we are all right and this proves to be the success that we hope, why aren't AA or similar large miners all over it at this stage and trying to snap it up cheaper? Are they happy to pay a higher price for more certainty? 2. Are there any broker notes on XTR?

[the diddymen] 21/1/2022 07:24

CMC - thanks very much for that and the links. A different take for Iceberg's blog?

[denjon] 21/1/2022 06:17

Cu above 10,000 @ $10,018 and predicted by some 'experts' to move much higher this year. Hope they're right.

[denjon] 21/1/2022 06:09

Your excellent research and conclusions are much appreciated. So glad I topped up (again) earlier this week in time for yesterday's overdue rise. Holding tight to my shares and looking forward to much more than an a chocolate egg by Easter!

[the count of monte_cristo] 21/1/2022 04:01

1) Size and scale

In the Oct 21 presentation on slide 11 you will note the management detailed "Projected to be 1bt project in the future", so even back in Oct of last year I think the team had a good understanding of where this is going. I disagree with Iceberg when he says Bushranger is similar to North Parkes, it seems much more like the closer Cadia-Ridgeway mine, very large lower grade. Indeed when CB discusses comparisons I have heard him mention Cadia but not North Parkes. I also think once we have a better understanding of Ascot we will be looking at a 1bt> 0.25% copper-gold asset.

"The Lachlan Fold Belt in New South Wales hosts world-class porphyry copper-gold deposits (e.g. Cadia-Ridgeway – 3.5Bt @ 0.26% Cu & 0.4g/t Au, North Parkes – 597Mt @ 0.58% Cu & 0.2g/t Au)"



2) Cadia-Ridgeway Gold and AISC

The All In Sustaining Cost (AISC) of Cadia-Ridgeway is mouthwatering, I said it earlier in 2020 that it is a "money making machine" for Newcrest, it's their flasgship project and most profitable mine, producing at an AISC of something like 100 USD an oz, when gold is now over 1800 USD!

If we start to see higher gold grades across the Ascot drilling things are going to get exceedingly interesting here, especially in a rising PoG environment. I'm speculating here, but I do feel like the management are being cautious with what they say and I get the feeling they are very excited about the gold potential now at Ascot. We can understand this from recent interviews. What this could mean is the combined Racecourse and Ascot production would/could become a large gold producer.





3) Australian Copper Producers

Yesterday I spent around 4 hours researching the top 25 copper producers and explorers, I added to the Caravel slide I mentioned in my posts yesterday by adding further information into my spreadsheet, such as mine life. What I found was that most of the current mines in Aus are due to exhaust their resources and close by 2035. Knowing that it can take between 5-12 years to open up a mine this is important. The majors are on a never ending search to replace resources. As CB said, Bushranger will be part of the next set of mines.

4) Extending mine life

Miners are now spending hundreds of millions to extend the mine life of their current mines, see below. For example even with this expansion at Prominent Hill the mine is due to exhaust it's resources and close by 2036. This may seem like a long time away, but in mining terms it's fairly standard. The bigger miners plan for decades, hence why they seek long life assets producing for decades. What we know about Racecourse is that we are looking at a 25 year mine, this is without Ascot (from my understanding). One needs to think, why should a company spend 600m USD to extend mine life for a few more years when they could purchase a brand new multi-decade mine for the same price plus opening costs of around the same amount.

OZ Minerals breathes life into Prominent Hill expansion, January 7, 2022

"In August, OZ Minerals was approved to construct a new hoisting shaft at Prominent Hill, adding four years to the mine’s life for a cost of $600 million".



5) Takeovers and Mergers

As the bull run and cycle in commodities heats up and as majors focus ever more attention on copper assets, the takeovers and mergers will increase, fueling the speculation and share price increase ever higher as we move into the middle of this decade. Each acquisition will be completed at ever higher resource in the ground levels. One just needs to observe previous cycles and mining runs to understand what is going to happen. It has already started with Sandfire and a few others moving first, as quite often happens you see the small mid-tier companies acting more nimbly than the slow larger and major companies.

6) Anglo American & Infrastructure

Bushranger has no native title claims, is on freehold and minor areas of crown land, a sealed road runs through the project, major power transmission lines are close by, the under utilised Oberon dam is close. Water issues are becoming a huge issue for the Chilean copper projects which are built high up in extremely arid areas. All of the above, plus the big one of just having a mine in Australia, will be of importance to AAL.

[papillon] 21/1/2022 00:39

According to this candlestick chart we had a breakout today. Possible target share price 7.5p


free stock charts from uk.advfn.com


According to this closing prices chart the breakout will be soon, probably tomorrow.


free stock charts from uk.advfn.com

The Heikin-Ashi candlestick chart shows a likely new uptrend has started.


free stock charts from uk.advfn.com

[papillon] 20/1/2022 23:32

I noticed that most of the large trades today, where reporting was delayed by an hour, were buys going by the times they were done at. In fact there were 3 trades reported after the market closed and all were apparently buys. I think the sellers have departed.

gfg1's assertion that the XTR share price would drop back to 4.5p looks to be wishful thinking that won't happen.

[brasso3] 20/1/2022 20:04

Zero

If you view XTR on a weekly candlestick chart the volatility is reducing.

[papillon] 20/1/2022 19:34

I bought over 125,000 XTR shares today, in 5 lots, to add to my existing holding. I'm an online brokers dream! Five commissions instead of one. There's one born every minute! 😭

[zero matrix] 20/1/2022 19:25

I'm not sure about that volatility comment, but certainly questions are being answered and the less informed concerns are being batted away somewhat. I do sense a change of sentiment and feel we may benefit from this until the short termers see a 20% profit to take off the table. Ie when we head for the 8p ceiling. 6p should become a good support so don't despair as we enter and inhabit a new range. It may not be our home for long as double digits beckon.

[brasso3] 20/1/2022 18:53

The volatility has been reducing in recent months. Its looks set to go now as does the copper price.