Xtract Resources Share Discussion Threads

[asitis] 31/5/2022 15:39

I think the ProspectOre board are calling the shots here and as Bushranger is their baby they are convincing Bird to use XTR shareholder funds to satisfy their geo intrigue regarding Ascot. Quite how this is satisfying shareholder value is a mystery.

[papillon] 31/5/2022 15:30

A drilling campaign on Ascot will likely be very good news for XTR shareholders in the longer term, but it will not be good news for the XTR share price in the shorter term, even if there isn't a placing as goforgold1 insists there will be, because it will delay the sale of the Bushranger licence. Maybe by up to a year, or more?
This is only my personal opinion, bwtfdik?

[backtothesoil] 31/5/2022 15:15

So the charts can now forecast the cash expected from Mozambique.I wonder if I could use them to forecast my potato crop this year.

[papillon] 31/5/2022 15:06

I have to agree with you, goforgold1. The chart doesn't lie. That bearish double top is still active. It does look like whatever money is coming from the gold activity in Africa will not be enough to cover a drilling campaign on Ascot.

[jwilde] 31/5/2022 14:30

Patience. We don't want to sell a boda for a bitty. I have added, again!

[the diddymen] 31/5/2022 14:22

gfg that is not really an objective analysis more speculation in the absence of key information that the company should have released on the cash generation (or otherwise) of its African assets. If there is no cash coming from Africa then there will be a fund raise, and it will also raise some more fundamental questions.

[p5tvr] 31/5/2022 14:17

See that those results went down well...LOL
Keep buying the dips SUCKERS!!!!...HA HA HA

[goforgold1] 31/5/2022 14:14

He will he needs more money

[asitis] 31/5/2022 14:08

And there we have it. Maybe the newbie shareholders will be starting to realise now what Bird says needs to be taken with a sack of salt. What I rumbled way back was that a small uneconomic deposit is unwanted and valueless. A larger uneconomic deposit is unwanted and valueless. Throwing placement money at those uneconomic deposits (while reasonable from a can kicking exercise point of view) does not provide shareholder value. The tanking share price recently should have made that clear. 1 million tons of uneconomic copper in the ground is just as valueless as 2 million tons of valueless copper in the ground. It does seem that there will be a gradual shift towards the door as the reality of investing here sinks in. Appalling forward guidance to shareholders ho hum.

[pngasef] 31/5/2022 13:36

Colin Bird sounds very upbeat on the prospects here if you ask me!!https://embeds.audioboom.com/posts/8092716/embed/v4

[goforgold1] 31/5/2022 12:12

P you have had no update because it's not worth an RNS that's why . In fact it would drop price as it's not what CB said it would produce so he is staying quiet

[goforgold1] 31/5/2022 11:14

They can not have much money now. Nothing really coming in only the warrant money . All the drilling and wages to pay can see more money needed to go forward . All the other projects will need money . Don't forget the last fund raising he said money would be used on other projects as well . So 100 percent funding coming . With one good RNS to limit the pain to Private Investors which what this share is full of.

[sclper] 31/5/2022 11:01

Must admit that my first reaction after reading the RNS was wondering whether Colin needs to get another placing away. Would be good to know the current cash position

[lurker5] 31/5/2022 10:39

How credible (at this early stage) is CB's 'suggestion' that Ascot is "a new greenfields porphyry-copper discovery comparable to Alkane's Boda discovery in 2019" ? Anybody know ?

[holdbucket] 31/5/2022 10:23

RNS out 11:15

[asitis] 31/5/2022 10:05

The problem with can kicking in the hope of better news crumbs materialising to toss through the echo chamber hatch is what happens when there just isn't any better news. How about a nothing new guff and fluff RNS instead.
Oh dear.

[asitis] 30/5/2022 08:50

Delaying bad news is straight out of Bird's playbook. Even the master of can kicking eventually has to share the reality with shareholders. Remember Omnia walking away or the Moz Gold company being given around £0.5 million of cash raise money for them to not even deliver 1 oz and they too to then walk away with the shareholders funds? Remember Kalengwa anyone or the Eureka project ? How much cash raise money went there ?
Each newbie batch of XTR shareholders faithfully hang on to Bird's reassurances in the Sunday roast and Zak talks but history shows they shouldn't be so trusting and accepting of the "promises". The latest Bushranger can kicking has already been accepted in the main by the lse echo chamber. How many of those will take part in the next diluting cash raise I wonder. ho hum.

[the count of monte_cristo] 30/5/2022 07:59

Alkane released an update on their Boda project today, 10m oz gold equivalent.



"Boda is a landmark porphyry gold-copper system, within the Northern Molong Porphyry Project, which the company believes has the potential to be a large, tier-one gold-copper project".

[the count of monte_cristo] 30/5/2022 07:52

I don't think it will prove to be "a bit of gold", I think it has the potential to turn into a significant amount.

[the diddymen] 30/5/2022 06:37

Have been a little busy of late. No comment on the movement over the last month or so!

To me the key bit in the last RNS was:

"Modelling is advancing at a pace, and to this end, we are modelling with a specific intent to identify copper and gold mineralisation trends and their spatial significance, designed to maximise opportunities and identify areas which could have material effect on the model.

We intend to issue a release shortly that gives an interim summary of the Racecourse and Ascot prospects."

The word interim has been deployed which indicates a slippage on the original time scale. The next RNS on the modelling should be material to understanding the likely extent of Racecourse and Ascot, and hopefully we should get a bit of recalibration on timescales.

Nice to have a bit of gold in the mix.

[papillon] 28/5/2022 21:37

Read this!!!!

Gold went from $36.55 in 1970 to over $400 in 1979
Whilst Silver did even better going from under $2 in 1970 to over $30 in 1979

It looks like the 2020's will replicate the 1970's.