Another low risk project that if proved worth while after the 90-day due diligence period might add another string to Xtract Resources bow . It all reads nicely and with KPZ demanding USD200,000 to be settled through the issuance of new Xtract ordinary shares based on volume weighted average share price for the month ended 30 June 2019 . Mr. Colin Bird already knows how many shares will have to be placed to conclude the agreement . He’s a shrewd man hence any placing of shares for this Kalengwa Processing Copper Project to take place there must be an awful lot of upside for Mr. Colin Bird to agree to the deal . Thankfully the cost is quoted in US$ against a company currently valued at around £4 million hence not a lot of dilution if after due diligence the deal is done .
We’ve Sino 2 alluvial Q2 2019 profits to look forwards to along with a progress report regarding Omnia working the Guy Fawkes hard rock .
My personal opinion with deramping going on on the L.S.E. bulletin board is there’s a short or shorts open after the recent 80% gain in a single day . Obviously Kat and her 50 pseudonym’s are easily detectable and this is how I see it . Good news comes to a company that’s being shorted like XTR then out of the blue a new poster to the L.S.E. XTR chat site starts posting false information . Nothing has been agreed if it had the shorter / shorters would have been squeezed there is however a time line of 2 weeks , 3 days before Sino 2 alluvial results squeeze the shorter / shorter’s hence any downward drift will be shorts closing filled most probably with shares held by the MM’s around the time of the Alluvial results July 1st approx . Additional pressure from Pi’s will help squeeze the shorter / shorters but I’m being patient and waiting for an SP below 1p / share to buy my trading tranches back . All in my opinion of course with research easily found through reading recent RNS to back up my positive stance for XTR .