Xtract Resources Share Discussion Threads

[the count of monte_cristo] 07/2/2022 08:22

OT - PANR may well be proving up one of the largest oil discoveries ever made in North America, keep an eye on the share price and news flow. Positive news update released today. In a world where oil is over 90 USD a barrel:)

[the count of monte_cristo] 07/2/2022 08:17

I believe CB mentioned it in his last interview, April/May?!

[brasso3] 07/2/2022 08:13

The Count

When do you anticipate the reserve report?

I thought this was planned for Q1 2022?

[the count of monte_cristo] 07/2/2022 08:10

Looking strong. Investors finally cottoning onto the idea that we could be sitting on the largest copper discovery in Australia for over a decade or more, with similarities to Cadia-Ridgeway?:)

[goforgold1] 07/2/2022 08:08

whats going on here mms playing silly games 6.70p to 6.20p massive spread showing stopping people to buy.
They dont have stock looks like investors holding tee stock

[denjon] 07/2/2022 08:07

II shows +0.374 at opening. Fingers crossed.

[the diddymen] 07/2/2022 07:36

Lurker we do not have the agreement in front of us therefore we have to take the facts at face value. AA have a right to make the first offer if XTR declare contained copper of 2MT or a decision to mine. I think that we can safely assume that AA did not add 'subject to shareholder ratification'.

The facts were clear when the quoted vehicle XTR acquired Projectore.

For the moment I will be working on the basis that the Board have the right to take the decision.

[the count of monte_cristo] 07/2/2022 04:39

ODR - Yes, he still does not and probably will never comprehend the Lassonde curve and what CB's strategy is here, even though it's quite simple. He also doesn't understand that the SOLG shareholders would have preferred a sale, a decade ago, instead of waiting around for 10 years because their management have the delusion of grandeur that one day they will build the mine and become Billy big balls. Our management have a better strategy and plan, have clearly communicated it, and we will not have long to see the benefits of this....for anyone with the imagination to understand it:)

A big "IF", but if AA pass it up then we have multiple other companies who are searching for elephant long-life copper deposits in the Lachlan Fold belt, such as Freeport Mc-MoRan the 2nd largest copper company in the world, who have the license next to Bushranger.

Prove it up, maximise shareholder returns in the quickest possible time and sell it for x5 to x10 the current market cap of the company.

From what I can see so far, comparing Bushranger to the top Aussie copper mines, it looks like it is shaping up to be one of the largest deposits in Australia. If we find the next Cadia-Ridgeway then this only has blue sky to go to. Roll on the IP and drilling across the area between Racecourse and Acsot to understand the mineralization there and roll on the drilling across Ascot!



"The Newcrest Mining (ASX:NCM)-owned Cadia hosts 37 million oz of gold and 8.2 million tonnes of copper and is one of the largest and lowest cost mines globally".

[arcadian] 06/2/2022 22:23

Let`s meet that problem when we come to it. For now let`s hope that Putin doesn`t invade Ukraine, China doesn``t invade Taiwan and that Ascot keeps on finding lots of gold and copper over a wide area..

And of course that Colin doesn`t go down with Covid.

[goforgold1] 06/2/2022 19:40

I have a look in sometimes but most the ramping and of course de ramping is on ADVFN . But big private investors will start to buy up the shares now on a 2 month view .

[onedayrodders] 06/2/2022 19:20

"I am starting the process (which anyone can join) to consider whether a Kiwara style sale will be in in sharehoders' best interests."


LOL .. funniest thing I've seen posted for years

[the diddymen] 06/2/2022 19:01

Lurker AA have the right of first refusal. The right pre-dates the purchase of Projectore and therefore would have been part of the purchase terms which were agreed by shareholders. AA's right of first refusal could not be trumped by a shareholder vote. The only thing that we as shareholders could do is prevent CB from declaring 2MT of contained copper or the commitment to mining.

The disposal will be a commercial operation and frankly I will be selling if shareholders have the casting vote!

[the diddymen] 06/2/2022 18:52

T3

Just for the avoidance of doubt, my calculations were at the start of 2021. I think in my post I said that it was pre-Ascot.

We will have to wait until the revised conceptual pit before we can really start to work out the value. There are some significant assumptions in your estimate. I certainly hope that they come good but we will also have to wait for the drill results.

TD

[papillon] 06/2/2022 17:25

You haven't been following the lse XTR bb then, goforgold1. That's been a very, very, busy board for a long time. Loads of posts everyday.

[goforgold1] 06/2/2022 16:27

Wow lot of posts looks' like people trying to get on now. Never seen as many posts since this time last year . Looks like we have some good momentum coming Mms playing tricks on late Friday love it .

[the diddymen] 06/2/2022 15:19

Loads of posts.

Lurker I have only scanned posts very quickly. I have not checked the Articles of Association but do not assume that the Board has to refer to shareholders on disposal of assets however material.

It is far from a given that to consult would be sensible!

Like CMC I do not believe that it would be in AA's interest to play around with the 80% clause. There is planty of scope here for a proper commercial negotiation, and Bushranger seems to sit nicely in an AA strategic gap.

[papillon] 06/2/2022 15:06

Colin Bird is a very wily old bird! 😁
Steve4077 mentions with his options and warrants, plus his shares, he has a potential holding of 41.5m shares in XTR. Only if he got a takeover offer of more than 90p would he walk away with more money from XTR than he got from KIW.
He's a shrewd old boy is our Mr Bird. He will want the most money he can get and quickly. That's OK by me because I'm not that much younger than him and if he benefits then so will I. I've found it always pays to ride on the coat tails of shrewd old boys like CB.

[papillon] 06/2/2022 14:50

The biggest shareholders, lurker5, are the online brokers, such as Interactive Investor, holding the shares of very small shareholders, like me, in nominee a/c's. I've never bothered to vote (in companies I've had shares in via a nominee a/c) in the past and have an idea that most other PI's, in a similar boat to me, never bother to vote either. Just too much hassle and not worth the bother. Hence I believe that if Colin Bird can increase the total shareholdings of the BoD, HNWI's and Institutional investors to around the 30% mark he should have no problem winning a shareholder vote if the HNWI's and II's are onboard with him (as was the case with with KIW).
Hence, lurker5, I think you are wasting your time.

[arcadian] 06/2/2022 14:42

This is all star gazing since we do not yet know how the drilling will go, the grades, the quantities, the buyer etc etc. So much could happen in the meantime and I
do share Count`s concerns..

I listen to CB and am optimistic but await Ascot. Lurker seems to suspect that CB will will sell him short and is preparing the opposition vote ahead of time but all this is for the future and to take a position before we know what is on the table is perhaps a waste of effort and a bit unfair to those making an effort on our behalf..

[steve4077] 06/2/2022 14:40

A couple of people on LSE have pointed out some other options. CB actually has 41.5m shares/options.

@lurker5. You might be starting the process, but as you are the only shareholder on either here, LSE or telegram who has expressed a desire to mine, rather than sell, it may be a short process.

[papillon] 06/2/2022 12:26

lurker5 has a point Steve4077. CB had a much, much, larger percentage shareholding in KIW shares than he will ever have in XTR, even after conversion of his options.
As I've posted before, CB made around £36m from the sale of KIW. It's extremely unlikely he will make the same money from his XTR shares.