when the share price was at 0.075p /share prior to the Chepica , RNS of a 10 fold increase in gold concentrate passing through the processing plant at Chepica the share price " stagnated for months " . Then owing to a number of factors including the 10 fold gold concentrate increase we had TIR , Polar Star and YA Global Master SPV, Ltd all ending their dumping of shares on the open market at the same time . Which was obviously the cause of downward pressure on the share price .
A surge in SP triggered a super spike from 0.075p /share to 0.28p / share in a day , from memory that day was 16th March 2015 . The share price rallied all the way up to 0.49p /share by June 6th 2015 before reality of the TIR execution of warrant shares knocked the SP along with the purchase of the Manica Prospect in Mozambique with a placing for £4.4m at 0.30p/share , 29th June 2015 .
Hence I say history is repeating itself since it was traders chasing rainbows that created any trading volume which was very low to say the least , much like now . Just like back then when good news came all at once as in the big sellers were out , gold concentrate had increased 10 fold . We await good news yet again mainly from our three sub contractors processing alluvial material within the Manica concession which is huge . We've already had it confirmed revenue has been received from one of the sub-contractors on start up but not yet of a full months revenue stream .
So we wait patiently as investors knowing our day will come and looking at the price of gold ( POG ) US$1,341/oz our revenue stream should be higher than expected since the baseline of US$1,250/oz has been passed giving Xtract Resources a higher revenue payments since we are a Gold producing company after all .
Indeed given he recently offered that it could be out by end of year or early in NY I've been expecting it for a few days plus now..
....obviously it comes when it comes, but previous experience leads me to guess that if it were very good it would be out by now.. so i'm now hoping for progressive or decent .. as opposed to average or poor...
I'm not surprised the s/p is clearly below 3p as I type and it may go a little lower if the week goes by without news.. still, I'm liking this more as a medium term bet now.. not least as Mr Bird accepted owed fees as shares recently...
..but I still think its not to much to ask for him to stick to update timeframes that he only offered very recently.. poor show again, but it's the nature of this dog... however the dog has been bathed and treated for fleas now at least.. imho
Lending money to contractors to get the show on the road seems like common sense to me.
If I needed a plumber and he needed cash to buy materials its normal practice for the client to foot the bill so off you go. If that start up loan then gives you part of the action further down the road, alls good.
Cynical bear ....its all in the name ;-))
Hi, B_B, HNY to you too, and thanks for the mention ;-))
Its tried 3p+ a couple of days ago but it hasnt held. Trying again today, as you say, but I think it is going to need news to get to the next level. Dont forget were still only 0.0149 in old money, so a long way to go.
Still hoping this will come good once a steady (and rising) revenue stream is established.
Come on Colin, lets have the latest update.
I don't post much these days, because I don't have much to say....., however a huge thanks is owed to several posters here who obviously do their research and choose to share their knowledge and findings with us lesser mortals. DS1 and TP, to name but two.
CWT, for making us all believe we are suffering from dementia or some other form of psychotic illness and Malkis for keeping us amused
For transparency I still have circa 11k invested here with a sum of 46% underwater, but I do hold faith that Colin Bird will deliver us into profit. Question is .........will it be during the golden year of 2018
Yeah............course it will..........But, not ordering my new wheels just yet
B_B looking forward to hearing our latest production figures
It was Mr.Colin Birds decision to switch focus from the Chepica copper / gold mine Chile , after learning of the Manica gold resource had increased 36% to 1.257 Moz in Mozambique on 11th May 2016 that changed long term holders fortunes . Yep the share price was flying at the time on learning of a 10 fold gold concentrate increase in ore when mixing outcrop reef ore from Salvadori mine area with central core ore at Chepica .
Instead of capitalising upon this news and good fortune in a small way by fully developing the Chepica prospect the Manica acquisition took place 10th Sept 2015 . For those that remember the 10 fold increase in gold concentrate RNS was issued 6th May 2015 . A significant share price increase followed from 0.075p /share ( unconsolidated from the recent 200:1 consolidation ) to 0.35p for the share Conversion Price to purchase the Manica prospect .
Hence instead of taking the risky road owing to earth quakes , heavy rains , etc ... of the Chepica under ground mining prospect Mr.Colin Bird opted for the Manica alternative with open pit gold mining at fair brides being the main goal with a DFS being within easy reach .
Ironic how the deal to sell the Manica prospect to Nexus Capital Limited ("Nexus") and Mineral Technologies International Limited ("MTI" ) for the sum of US$17,500,000 was announced 26th May 2016 only 14 days after the RNS stating Manica gold resources had increased 36% to 1.257 Moz . Even more ironic how suddenly ( XTR ) BOD had fallen into disagreements about whether to stay with Chepica or move to the much larger safer option Manica gold prospect , Mozambique but it did . By the 30th Sept 2016 the Manica prospect sale to Nexus / ( MTI ) had failed to materialise due to certain conditions precedent not being met .
Now we learn Mr.Colin Bird is taking unpaid fees in respect of the period January 2013 to January 2017, amounting to Â£131,500 in the form of new shares . It's plain to see as a long term investor Mr.Colin Bird acted upon the increased gold resource at Manica announced 11th May 2016 to not only safeguard Xtract Resources future but put it in a very strong position going forward ,
The man is thinking years ahead of traders maybe years ahead of long term holders too but one things for sure he's got control of a gold producing company that has three sub-contractors processing alluvial material . He's also made an investment in the alluvial gold processing company , Moz Gold with the option to convert the loan into 25% share interest in Moz Gold at any time . Along with two hard rock sites including fair brides with an already approved ( DFS ) 28th February 2017 . I'd say Mr.Colin Bird really does have investors money working hard for the company . Good on him I say and a " Happy New Year " to him and all employees , share holders too ..... :-)
So, Moz is a newly formed private company set up solely to process M block at Manica. Colin obviously has faith in the people setting up the company and wants a piece of their profits. The loan has a 30% interest rate and is for only 5months, convertible to 25% of the company. Good to get a further revenue stream underway.
I wonder if they called it Moz for millions of ounces ??
(Ii need to get their page sorted so flags can be used. And I hear horror stories about the trading platform /:-(((. !!!!!)
I had already topped up after reading the " Manica Concession Alluvial Gold Update " RNS , confirming Xtract Resources is due approximately US$92,000 from the alluvial miner Sino Mineral's for the initial start-up operations on the eastern half of the Manica Concession . Along with the fact Xtract Resources is expecting Alluvial gold production to increase on a monthly basis .
Then another top up on the " Enhanced terms Manica , Western Alluvial concession " prior to the Vox market podcast really did reiterate what was already made known through these two RNS that appeared to be overlooked by many .
With two RNS's plus the Vox Markets Podcast throwing light on what Mr. Colin Bird has been doing for the company , creating a Royalty " income " that is expected to greatly increase in the near future . Then outlining the direction or should I say many different opportunities available including hard rock gold mining at fair brides I must say I'm highly chuffed with my two top ups .
Xtract Resources looking primed for a very bright future and obviously when the big boys get their fill a tidy re-rate in Market Cap will follow .
This sounds positive in that increased production should be possible. The only bit that confuses me is that we are told that Omnia Mining have a milling facility only 3 km away which is currently under-utilised. That begs the question 'Why do they then need another contractor'. Clearly mill capacity is not the limiting factor. Unless of course the third contractor Moz Gold will be using Omnia's mill. Although this is not made clear in the RNS.
P.S, big buy of two million shares at 11:15 which has barely made a dent on the sp!....
damn I can't even get that right.. oscilating between small up and small down, i meant :-)
while i'm somewhat miffed at early mining progress not being better, progress nonetheless seems to be being incrementally made..so even if things continue incrementally slowly, I'm still reasonably confident of north of 3.5p in Q1 18.. and hopefully it's well north as opposed to just north...
At least they're looking to address the issue(s).. fair enough.. and I still think patience will be rewarded here 'in due course'.. still a very tricky share and progress not as smooth as I'd hoped for ,so far.. at least...
Ouch!!! The drop in share price today is a painful kick in the TB's.... way over cooked in my mind.
CWT (as much as it pains me to say!!) is quite right, these shake rattle and roll machines are maintenance heavy so teething problems can be expected throughout the start up period and beyond. Needless to say this machinery is designed to deal with hard rock and so the contractors will know just how hard they can push the throughput.
Within a couple of months the technique will have been fine tuned and steady production will be achieved. TP is quite right too....... Patience is the key here.
This is AIM but more so, this is XTR so who knows what is around the corner. When the markets have had their fun and ripped us PI's off I think we should see some encouraging share price movement.
B_B (polishing harder than ever now, deliberating whether or not this is the time to average down even further)
following up on Rellims point earlier: Omnia not contributing to revenue by end of Nov is disappointing but not surprising, the RNS not even mentioning that they were now close to starting contributing was more disappointing/surprising again.. all imho
the s/p being where it is as I type is not unreasonable imho.. but patience will hopefully see us back decenty into 3p's in coming weeks or - few - months
This will continue
Suppose you mean the start up problems, cwt.
Dont worry, itll be fine once they get going. Back over 3 in no time at all. And a nice pre Christmas bonus for those who held their nerve.
3 weeks ago Omnia were still working on the plant and the gold room so no revenue from them yet though I would have expected a full month of production from Sino for November. Disappointing that teething problems appear to have slowed production.
Patience is the key here as the operations on both sides get underway and settle down to a steady revenue stream. Ill give it another 3 months before I start carping.
Those selling out now will regret it Im sure. Perhaps they need the cash to do their Christmas shopping. Sad really
I suppose it is fair to ask why both contractors were not mentioned in the RHS. That may be why some have been spooked.
The other reason is that, in my opinion, the AIM market is a real traders market. Many investors are very short term traders and they move money from one hot share to the next. If the price turns against them or results have been posted, they are immediatley off to the next hot spot. It makes for high volatility.
Cygnus, I can't speak for others but I would have expected (hoped) for an update of some positive progress from the other contractor. There seems to have been some unexplained slippage from that side. Patience is supposed to be a virtue but it is being tested now.
I would describe this as an average to decent outcome, so far. But definitely not good - not to mind very good or excellent - and so the s/p reaction doesn't surprise me much.. a little over reaction perhaps but it's coming back a bit now -or for now - at least.
I expected Omnia to contribute something by end Nov and they don't seem to have. It was kinda flagged in the mid Nov. raise RNS though (as per the exerpt I posted yesterday)
(And they were right to do that raise now imho and that kinda told us that things were going ok more than great)
This company is now a semi joke more than joke in my mind and I'm thankful progress is being made, albeit more slowly than I'd hoped for.
Not sure why the sp has taken such a hit following news which is pretty much in line with expectations. This $92k attributable to Xtract is only from one contractor and refers to the early start-up stages of the recovery process over two months. What were others expecting ?
Interested in the views of others.
Manica even .. oups.. not a core holding of mine, in my defence :-)
PS; If there isn't news this week the following from recent placing RNS - mid Nov. - might give a hint as to why.. eg the Western Half operations have been slower in delivering than hoped for/or is still delivering a lot less than they think it soon should/will.. etc..
''In respect of the western half, the Company reported that first income was anticipated at the end of November 2017 and Omnia continue to work on the gold plant and in particular the gold room to increase fine gold recovery and hence overall gold recovery.''
they must now at least broadly - even if they're holding off selling some output for whatever strategic reason, they can still use current spot prices indicatively - know their share of revenue achieved to end Nov.. and while they have some of recent placing money to further invest ''which may include taking equity positions in operations and fast tracking the hard rock propositions together with others in the vicinity'' , as the operators that they are buying into will know those revenues figures and have a complete handle on Mancia future potential - even more so than Colin Bird perhaps - there should be no delays for ongoing commercial negotiations sensitivites imho ?.. so i'm still thinking an update is highly likely this week.. but again this is xtr and they are a law onto themselves..
Here's hopefully they're about to at least START moving away from joke company status around about now!
(as you can probably tell I don't like this company, but that can of course change quickly with s/p appreciation of the back of Mancia :-) ...that said its past is too awful for me to even semi easily forget and i'm unlikely to be a long term holder here, I guess..)
I'm looking at a 1947 Sunbeam C7. Most of my bike are what I'd class as modern classics, late 70's / 80's bikes. This just looks stunning and nice to have an older one to go with my old '47 BSA C11 and all my Jap stuff.
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