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Totally SonOfAGun, and to be honest thats the same for most small caps.
Also depends on whether you believe the ceo or not Zan.
Indeed some good follow up options there Mickey.
For me, I'm not to concerned as they stated "still on target" for year of year per month Oz target, but I do feel it might have/might still cause, some anxeity to potential new investors.
Thing with GCAT is everything is a bit upside down compared to the usual junior and think the market is still getting its head around that, even though the concept is well used, a lot of investors don't hunt deep enough to work out value etc. Surface figures can show no real profits of note, because they are being used to upgrade an old mine so that it can make a lot larger future profits. Now you could as I do see the big value in that. No 50% lost on aJV partner, no massive mine build costs and 2 year waits while its all built, some existing JORC ready to be expanded OR you can just see no real profits as yet so not worth buying.
Oddly, a lot of investors are more than happy to pump there cash into some juniors that stand a small chance of ever making it to development.
Hopefully Robbie will do another Q & A and GCAT investors will ask important questions this time as it was stage fright last time .
Alternatively ask the Telegram group if they asked Robbie about low gold in Q1 production .
It that failed I’d email the company and ask .
Robbie keeps a close eye so maybe he’ll pick your question up and answer it .
There is lots to look forward to here with GCAT but I guess there is still several unanwsered questions which leaves a lot of risk on the table for investors.
A big is why was only roughly 1.2k oz Gold sales made in Q1 22. Its a big question as yes, they mentioned that they had to reduce production to upgrade the operation and of course the Heap Leech figures will be more aparent in Q2, but that doesn't account for the fact if you look at amount of dirt processed, the gold should have been nearer 3k I believe, so why did we sell less? I can only think of 2 possible answers.
1: No buyer
2: Lower than expected Oz per ton processed.
I find the 1st possible reason to seem unlikely as in todays market, how can you not be able to sell your gold? Which leaves you with number 2 as potentially the main reason.
There could be a totally different reason, but for all the amazing info given about Q1, and make no mistake that was a a good in depth report, so well done Robbie, that unaswered question, along with admitting more money will be needed, will make some investors wait before buying.
Weird how shares react at times. I read the RNS and got a quote at the open at 0.748p, got filled, mini fist pump thinking I'll be selling these for 1p+ later. Then not long later it's struggling to hold 0.7p bid with people selling lower and lower. Then in the afternoon it goes nuts with buying and the book totally flipped. All 7 mm's in this closed on 0.7p bid and around 0.74p online so very strong finish. Seem to clear a overhang too
Rerate all depends on the seller being gone, IMO, which I’m not sure is the case.
Hopefully, however, Robbie generates a bit more interest, more buys, and the seller will be out more quickly….
Hopefully we will get a rerate very soon.
Blue finish. Sweet. Looks like a few larger buys may have been waiting for confirmation of the bottom by seeing a lift.
Of course we won’t know yet but think of the folk saying ‘oh I wish I bought more now!’
O/T…
Anyways NOT a rec as it’s a silly super high risk punt but some that fancy a lottery ticket could check out CLON. Got a high impact gas drill coming up soon, rig mob next week.
30% ish COS but they are drilling in a producing gas fairway in Western Australia which gives a much higher cos, up to 88% if you believe the hype! Could be up to 11 TCF of gas. That’s more hype! Lol! But here’s the thing even 1 TCF with their low mcap and 10% entitlement could be hugely transformational for the SP. So it really is a very good risk reward for a drill.
I must stress it is NOT a rec. I have a ‘small’ position there for the drill.
I have only posted here as often folks don’t to hear about these things or they find out via subscription services.
Anyways it’s one of those other rare chances. You may be able to take profits ahead of TD but honestly DO treat it as a flutter. Nuff said.
Usual caveats,
Have a nice weekend all.
Trek
there goes the bottom...
ID78 - I'm curious about the very same thing. It would be good to know the reasons why we're selling less than we're producing, especially as we could do with the revenues by the sounds of things. Hopefully, RM will explain in due course.
The EMR figures by the end of the month are a another big part of the puzzle.
Mining operations seem to moving progressing nicely. We now need an increase in the resource to mine. Robbie does state that grades are in line with what they were expecting and so I am very much looking forward to the update at the end of the month.
The thing that did not help us today was the amount of gold sales. It paints a picture (without any actual investigation) that the mine is not performing as hoped or expected. I am curious to know why they sold less gold than they produced, however I am more confident about GCAT having gone into the numbers reported in the update, and with the help of a few posters on here today filling in the blanks!
should be at least 1.20p after RR calculations
Re Born
Yes Mickey, no wonder he used "game changing year" in his comments this morning.
Thanks Red,post of the day ! Robbie at last playing safe with the 24k oz p/a,a good learning curve in biz, make the upside when it comes have a serious effect on potential investors.