It is difficult not to be at least a little surprised by the Xtract shareholders’ response to the suggestion that the Western Foreland licence acquired by the Company is nothing more than moose pasture. One would be obliged to think that the keyboard warriors could not be any more wrong.
The Western Foreland today is reported to be the hottest spot on the planet for copper discoveries and the race to acquire ground within the Foreland with the hope of discovering the next Kamoa is well and truly on. One should not forget, Ivanhoe’s Kamoa is one of the largest highest grade copper deposits worldwide and is located on the Western Foreland. Move east of the Xtract Licence and you have FQM Trident’s Kalumbila and further east still and you get to the Barrick Lumwana Complex. That’s 3 world class Tier 1 deposits all in the same part of NW Zambia.
Looking more specifically at the Xtract Licence, it is surrounded by ground held by Rio Tinto, Anglo American and Kobold, the American AI exploration company financed by Messrs Bezos and Gates. These companies clearly have the same insight as Colin Bird and his Xtract Board. They cannot all be wrong.
Using one’s own keyboard to open the Mining Cadastre for the DRC, one can see the wave of licences that curl around the Western Foreland and how they come crashing into Zambia right into the region where Rio, Anglo America, FQM, KoBold and yes, Xtract have selected ground.
If further convincing is required, in November last year, Ivanhoe acquired an exploration licence in Angola, the size of Switzerland to capture the Foreland in that country. Of course, the new Ivanhoe licence straddles the Xtract Licence. It is difficult to work out what more evidence is needed to show that Xtract has managed to pull off a coup acquiring prime copper exploration real estate under the noses of its much larger peers in the Mining Industry. This is even within the current default setting of junior miners not being loved by the stock market.