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My take aways (for what it’s worth)
CB/XTR need to RNS plant extension plans at Manica, for me it’s not clear how this works commercially e.g. do MMP pay for the capex and then XTR get 23% or is this a different deal e.g. 50:50 like what’s specified for exploration in the original agreement.
I assume CBS quoted Manica numbers are at current spot (will they achieve spot or will it be similar to the alluvials and say -100)? Also seems he is ignoring tax, maybe we can use historic tax losses but it seems ambitious not to have any tax factored into the calculation to me.
CB stating 1.3billion on most recent prelim BR update, I assume this is the undisounted cash at 4/lb which seems like a massive improvement on the conceptual study cashflow numbers. Seems like he is aiming for a 25% IRR, wonder if this is at 4/lb as well?
It would be good if he could do a proper interview where his statements were challenged a bit by someone with reasonable knowledge of the company/industry
I don't think there are many LTH who will sell.
Most are under water significantly and the rest are unlikely in profit. Might aswell wait for the BR study.
The tone in Colins voice was a bit of a give away.
He's now emplying that shareholders were fixated on the 2mt due to the AA agreement.......no Colin! It was you that implied we were pretty much there, with the 2mt and decision to mine. Sale by april/may 2022!!!
Half m/c going forward looks good because m/c has dropped considerably since his crap/lies whatever is best to call it has become near on fully known.
So from where mcap is now 4/5p in 1yr/2yrs time will look good when infact it is very well below he made shareholders believe where Xtract was going.
There should not be a sell-off tomorrow based on fundamentals. The MC is exceptionally low and easily supported by FB alone. Even if the FB income figures are lower than CB's guidance (quite possibly) the sp should rise when we get actual profit. This is discounting BR 100%.
There may well be a sell off tomorrow based on sentiment and against lack of trust in CB to deliver or believe anything he says . Oh and his lack of acceptance or acknowledgment of any responsibility
"CB/XTR need to RNS plant extension plans at Manica, for me it’s not clear how this works commercially e.g. do MMP pay for the capex and then XTR get 23% or is this a different deal e.g. 50:50 like what’s specified for exploration in the original agreement."
Surely it must be a 50/50 split as in orginal agreement?
I'm assuming costs will be $10M and its $5M each but we get 50% share not 23%. Extra income should be substantial but that aint gonna happen for 3 years + imho
If mmp paid for all capex then I would assume we are going to get 23% but CB mentioned that we would be paying for all / some of the plant.
Tbh honest I'm very optimistic about FB and future revenue. Just a pity CB doesnt share see it as some do and keeps looking at those lottery tickets.
I see his "looking at more acquisitions " comment today as much more damaging than he realises.
My understanding was the 50:50 was for exploration, this would be for known resources so doesn’t fit in that bucket to me. But as you say CB was saying about taking a loan to pay capex and not sure why we would be doing that for 23%. I share you view on Manica and see a lot of potential in it hence want it spelt out in an RNS how this works as opposed to assuming based on a “interview”
I’d be fuming if CB dilutes to fund a new acquisition from 1.25p or what ever we are currently
My understanding was plan was for us to buy the new plant, (counted a chicken before it hatched) to increase the 23% share to 50%(?), or something like that. So if 50/50 would expect 30% plus, but as ever we won't truly know mechanics till all is finally outlibed via RNS.
Captain bob...
"There are obviously a few disgruntled LTH on this board, maybe they should sell up and go elsewhere"
I have over the years "added" . I now have a sizeable holding which effectively has me trapped. I could sell but believe me you would see the effect on the SP. That is not a realistic option for me. My emails to xtr have been ignored. Yes I am disgruntled.
LW. I'm with you, I'm not selling either, and that old chestnut about selling if you don't like it has always struck me as a mealy mouthed attempt at oneupmanship, " You obviously haven't got the minerals I have sonny" crap.
These posters think the same as the disgruntled but are smiling sweetly as the dogs bite their knackers, trying to pull off the nothing to see here look, desperately hoping things will change. If they did you wouldn't see these stoic holders for dust. they are hoping to get out on a spike whilst shaming us into holding.
Listening to some of the gripes on here is like being on a coach trip around europe , and then having to listen to half the passengers complaining about the driver actually having the audacity to get paid for the same journey ;)
Except the paid for trip around europe ended up being a few circuits of Aldi car park.
Little wing, you got me ! brilliant retort, that should put a smile on your face if nothing else , LMFAO :))))
ive not read all the messages but the general thrust is right
there are 2 types of posters here
1) those who are fed up with cb
2) those who are fed up with cb but dont say it but instead come out with 'sell if you dont like it' toys out of pram rhetoric.
i have mentioned before what happened with bzt at kalengwa- cb mysteriously pulled these excellent handheld assays out of the hat, we werent even expecting them. the sp rocketed. then after much delay- the lab assays from same site were absolutely sh**.
i wont point fingers, but someone made money from that baseless ramp.
in all honesty- i have written off my investment in cb companies and you should all too. i come here when im bored more to warn others and make sure suspicious ramping profiles dont dictate the conversation. cb has used every tool in his ****nal to try and ramp the sp but it all falls on deaf ears due to his past and current record. it worked during the covid mining bull but not now. he has played all his cards and has nothing else.
so the only thing that can change the fortune of his ailing aim cash cows, are fundementals- movement on the ground/sales/assays- and i just dont believe these will happen.
sorry but if you are one of those who bought in anything above 2. you wont see that money back.
Colin Bird’s AIM record (as of mid May 23):
Time he became CEO of BZT- SP 0.5….now 0.04 >90% fall
Time he became CEO of XTR- SP 10...now 1.8 >80% fall
Time he became CEO of Galileo 7.38...now 1 >80% fall
During this while- collectively, millions been paid out to CB and fellow directors while PIs are multiples down. Robin Hood in reverse.
Thank the Lord we have such an altruist amongst us, eh guys?
Really glad you put forward such a sensible, well constructed and not at all repetitive argument Kwakadu - I’ll probably just ignore all of the work I’ve put into understanding the company / it’s operations and just sell all my shares now.
Jees, so lucky I have someone like you to tell me how it is and for the record, I’m not at all suspicious about your motive for the constant bashing posts now.
Definitely doesn’t seem at all like you could have an ulterior motive.
Thanks for your help.
Kwak, i'm actually glad you mentioned fundamentals but on your other point there is definitely a 3rd type of poster here , one that doesn't give a toss about anything that you think, say or do !. wink
Clearly Kwak has been triggered by the up-tick in the sp.
Yay, Quack’s back! We’ve missed your pertinent comments (not). Unoriginal and boring. All stuff we’ve seen before. Binned and filtered. Taxi for the Quackman 😘
Kwak is on his 'favourite' bbs spouting his tripe and getting all hot and bothered as the SPs are positive and peeps are making money from trading them. I'm not going to filter as I love that sense of frustration and squirming in pain. lol