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12th May RNS suggests from 2,575km strike
A strike length of 1,875km has been identified and drilled with the remaining drilling expected to extend this strike 300m to the west and 400m to the east for a total of 2,575km.
Either way if you average down to the 1.2km strike it's still multiple times more data.
Are those the numbers for the 1.875km strike length?
The current MRE is based upon 1,138 meters drilled and the updated one we're all waiting for will be based upon 9,069 meters drilled. 7,522 RC + 1,547 DD.
It's going to give a much clearer picture of the resource at Kilimapesa hill.
Good post OOSM.
True, if the EMR is to be used towards raising funds then Frank whilst competent is not impartial. So someone independent validating the EMR would be necessary.
Personally I would like to see the Assay results published even if the MRE is going to take longer, but whether by themselves they would excite new PI's, is a different matter. As far as I can make out the bulk of the gold at Kilimapesa Hill is not in the high grade range of 5g/t or above. As already discussed though that really doesn't matter, as my understanding of a JORC 2012 resource figure, is that it focusses on the gold that is economically extractable. So as we already have a producing mine with a plan to ramp up production, this is IMO the key factor to the success of Kilimapesa Hill, as the cornerstone of the Caracal story.
So assuming Franck and his drill team have done their job, in correctly placing the holes, necessary to provide the information, an increase in the JORC figure is guaranteed, as is a substantial increase in the measured and indicated figures for just Kilimapesa Hill. We already know that the success of the HL strategy is based on utilising the large amounts of lower grade gold that the open pit mining will economically produce, supplementing what was previously in the waste category when digging out the better grade gold from underground. So for us LTH's the Assay results may not excite, but hopefully with the expected MRE they will provide the warm comfortable feeling, knowing that we have bankable LOM figures, and confirmation that the possibly modest 24,000ozs/a figure is easily achievable for many years to come, and that the economics of the extraction process will generate a decent FCF that will finally excite not just us, but also II's and PI's going forwards.
On the reason for the delay it is only possible to speculate, but clearly Franck easily qualifies as a competent person who could have generated a rerated JORC, but if however, it is going to be used to used for some future fundraising as part of a BFS, or thrown into the mix during the NSE launch, then the competent person crunching the numbers and producing the report, has to be independent. Obviously an independent CP could take time to generate the supporting documentation and the required double checking, even if the actual MRE calculation, that probably just results from plugging the drilling/assay information into a software modelling program, could have been generated on time.
ATB & GLA
They'd have to find a former prison warden, or maybe circus ringmaster to manage the collection of assorted deviants occupying government these days. Cant be an easy cv to put together. Probably would have to attach as annexure A, your pornhub search history as evidence of your credentials.
I must admit I miss the days of Jason and the incoming plane tweets ;o)
No one probably wants his job at the moment haha
I think his time is up.
When I heard from of last nights cabinet resignations my first thought was this is the beginning of the end of Johnson.
I hope the EMR comes first …. But I am unsure if it will be first
you think his time is up ? will he quit ?
How about RNS v Johnson's departure?
Interesting times indeed.
RNS date then guys Im going for friday.
Can't be far away now
They're a producer and explorer they don't need to keep doing dilutive placements like explorers have to.
This is all about increasing shareholder value as well as company value.
All going to plan they'll be making a free cash flow around $13.2m for 2023. It seems strange not to tap into this especially when the company is carrying next to zero debt.
It was a meaningless question it should have been have you got enough cash in the bank to cover the costs for the rest of 2022 or will you increase funds through non-dilutive means.
I think they'll be raising $multi-millions by non-dilutive means shortly after MRE release.
The recent investor event is on the uk investor magazine website now if you want to watch Mr McCrea nervously garble through the June presentation. Or skip to the end for the 1.75 million cash position confirmation (ÂŁ or $ ?)
Mickey, it’s frustrating but much has been achieved in a short period of time. If the timescales are aggressive and they miss by a week or two then so be it. The pace at which they are turning Kilimepesa around remains impressive.
Of course, those numbers in that report are most important and not the date of release. We just need to be patient.
It would be nice for them to release the batch 3 numbers whilst we wait on the MRE…
GLA
There's nothing really to expand on it was just a suggested possibility for a delay in releasing the MRE. There seems to be a grey area over who owns what in the Red Ray area which may or may not effect the timing of release. Red Ray is part of the original MRE.
I think there Admin dept has still not recovered from the early days chaos at gcat and that’s why RM just can’t get anything out on time . If it’s not announced next week after continually stating end of June it will rubber stamp the belief of continued chaos . If the results are fantastic the late arrival of news will be a distant memory however if disappointing that’s another story.
Greg "Disagreement with license/ ownership"?
Please expand on this statement.
Markets don't like delays but all the delays and missed targets here have been own goals, set by themselves.
I'm expecting nothing less than 1Moz to come out from the MRE and it's NOT set by the company :)
OK Greg cheers for that, all these companies that float with shares seem to do what they want these days anyway hahaha. some of the ceos do some crazy stuff and don't even end up in jail don't even mention zaza at frr hahahaha that was aim though learning lesson there, all looks good here though just a little more patience, ID78 yeah it was good they responded.
That’s what I would have thought (price sensitive)
And to be fair they tend to release news as they have it.
Nothing for it, just need to wait a bit longer. At least they responded to your message Predator7.
Predator 7 the law doesn't actually say that! That's a myth or interpretation of investors. There's no set time for releasing RNS just to be considered timely with undue delay. There could be any number of reasons for the delay and we won't be privileged to find out.