Xtract Resources Share Discussion Threads

[the count of monte_cristo] 14/2/2024 11:42

The above Ivanhoe grades are what Xtract are referring to in the below paragraph.

"The Company believes there is scope for the discovery of potentially high-grade Kamoa-style mineralisation at depth and lower grade Kolwezi-type mineralisation at or near-surface".

Exploration Progress in Q4, 2023 and Financing

Xtract now has exclusive access to unique historic data sets generated by Anglo American plc which pre-date any proper understanding of the Western Foreland geological setting and potential. This has enabled a fast-track early-stage exploration strategy on a very cost-effective basis that will save an estimated US$1.5M in direct exploration costs during Phase 1 of the Joint Venture.

With funds received from Xtract's entitlement from its 23% net interest in the Manica project in Mozambique for the period ended September 2023 as announced on 24 January 2024, Phase 1 exploration commitments for the Joint Venture are available from existing cash resources meaning no fund-raise is anticipated and therefore no dilution to shareholders. The financing of Phase 2 will be based on the results from Phase 1 and also, the decision by shareholders on the proposed disposal of XTR's interest in Manica at the Extraordinary General Meeting (EGM) to be held on 13 February 2024 and detailed in the EGM circular sent to XTR shareholders which is available on the Company web site.

[the count of monte_cristo] 14/2/2024 11:33

The 500,000 odd buy which has just gone through is mine.

Rainy season ends in April, drilling will commence across XTR and GLR's Western Foreland projects when the rainy season ends. Hunting for elephants.

[the count of monte_cristo] 14/2/2024 11:31

This is the hunt and the prize...

Makoko contains Indicated Mineral Resource of 16 million tonnes at 3.55% copper plus Inferred Mineral Resource of 154 million tonnes at 1.97% copper using a 1.5% copper cut-off

Kiala contains Indicated Mineral Resource of 5 million tonnes at 3.56% copper using a 1.5% copper cut-off

Makoko ranks as the world’s third-largest and highest-grade copper discovery since Kakula in 2016...


“The theory was proven to be correct, as our team of visionary geoscientists discovered Kamoa in 2008, followed by the monumental Kakula discovery in 2016. In little over five years, Kakula went from drill core samples to one of the five largest copper mines in the world, with by far the highest grade, thanks to the hard work of our outstanding project and operations teams.

[the count of monte_cristo] 14/2/2024 11:30

The Kitoko discovery confirms the presence of a significant high-grade copper mineralizing system between 1,000 meters and 1,140 metres below the surface. Kitoko fine-grained copper mineralization is hosted in near flat-lying siltstone of the lower Grand Conglomerate, like that observed at the tier-one Kamoa, Kakula, Makoko and Kiala deposits. Also, like these deposits, the Kitoko mineralization is bottom-loaded with the highest copper grades occurring at the base of the mineralized zone.

[the count of monte_cristo] 14/2/2024 04:57

I also think they will acquire a license in Angola and follow Ivanhoe's lead.

[the count of monte_cristo] 13/2/2024 14:36

There is no place on the planet as rich in copper and cobalt as the DRC's copper belt. Worth listening to Robert Friedland. I think most investors don't yet understand that if they prove Kamoa style mineralistion that the company will be in a very strong place. They have the funds to explorer.

[the count of monte_cristo] 13/2/2024 14:34

Unless they are someone like the fella who wrote the article yesterday complaining about how XTR will need a placing :)

[chris cat] 13/2/2024 14:19

It seems bizarre that anyone would sell at this level, given there is circa $15m to come in. Obviously concerned about what CB & Co. might want to do with it.

[the count of monte_cristo] 13/2/2024 14:01

The Settlement and Restructuring Agreement in relation to the termination of Xtract's mining collaboration agreement with MMP dated 28 May 2019 in relation to the Manica Gold Project under which the Xtract Parties are to be paid US$3.325 million in cash to settle all monies due under the Mining Collaboration Agreement from MMP to Xtract and Explorator, Xtract's local Mozambique subsidiary, of which US$2 million has already been paid; and to terminate the Mining Collaboration Agreement.

[the count of monte_cristo] 13/2/2024 13:48

Papillion, does the link you shared explain why they need a placing when they have this cash injection coming in?

Or is it just some bs opinion by someone who knows little more than the average poster on here.

[denjon] 13/2/2024 13:22

RNS out.Disposal of Manica formally approved.

[papillon] 12/2/2024 19:03

"I flagged this up in bearcast last week but the silence from Colin Bird’s Xtract Resources (XTR), London’s worst Nomad “Roland “fatty” Cornish and scumbag broker, the king of the spivs, Jon Bellis at bucket shop Novum is deafening. Shares in this perennial penny dreadful are now just 0.95p and sliding fast."

[the count of monte_cristo] 08/2/2024 08:29

Get drilling.

[the count of monte_cristo] 28/1/2024 10:18

If you look at the Katanga region in the DRC, there is nowhere else on the planet as mineral rich in copper, cobalt and other minerals. That rich minerology extends into Zambia, going after it makes sense. Zambia will become a major mining centre, pivotal to the worlds copper requirements. Unlike Chile where their grades are 0.5%, Zambian copper mines run at over 1%. In the DRC Kamoa is 3%.

I don't currently hold any XTR.

[jonjoalex] 25/1/2024 17:49

Birds reputation for delivering nothing goes before him.

[chris cat] 25/1/2024 15:20

A contingent Asset that is worth roughly double the current market cap ...what am I missing? Is there debt attached that will eat the cash? Are the BOD in for a bonus payout?

[cboney] 25/1/2024 14:13

They don't seem to be able of doing anything to improve the share price

[texaschaser] 25/1/2024 09:27

Manic depressives of the world unite. LOL

[backtothesoil] 25/1/2024 09:03

Owners of clapped out assets in Africa must be licking their lips at the thought of Bird with cash to spend.

[pngasef] 25/1/2024 09:01

They'll probably just milk it....... or they could use it to keep us afloat whilst we wait for the copper price to explode and then sell Bushranger for hundreds of millions.

[the diddymen] 25/1/2024 08:11

Market Cap about 80% of yesterday's disposal value of Manica. Not the happiest reflection on the ability of the Board. As ever the question is 'what are they going to do with the cash?'.

[cdavy7] 25/1/2024 01:31

Took the hit and already made it back with genuine companies ran by actual exploration companies. Held this stock for a 4K loss. Take your money and get out regardless of the hit. Day traders dream on news and that's it

[lurker5] 24/1/2024 17:26

A lot of people desperate for cash these days. Spikes anywhere fizzle out instanter.

[papillon] 24/1/2024 13:28

Well the initial enthusiasm following today's RNS, as reflected in the share price rise, has quickly evaporated.