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Lot's of recent comments by GCAT regarding Open Pit feeding the Plant.
We know about the current underground mining on the Kili Hill and have also had comments about an additional HL Operation to expand production, but not much detail about Open Pit Mining on the Kili Hill.
We have seen them doing bulk sampling on the Hill(Twitter pics on 3rd, 10th and 21st Dec), which is done to test for Open Pit potential, but haven't heard the results.
If they can get an Open Pit on the Kili Hill then this would reduce costs substantially, compared to the current Underground Mining feeding the Plant, but also it can be fast tracked into operation as any potential mineralisation is already within the area of the Mining Licence.
Now today we get a Twitter pic showing the RC Rig has joined the DD rig on the Kili Hill and appears to be drilling in the same location as where they did the Bulk Sampling.
https://twitter.com/caracalgoldplc/status/1482966615541043201?s=21
Fantastic spot on the drill rig; which I note is in the distance! I had assumed that was the diamond drill rig.
They said they had a surface lease for the area as well so if the gold is there near the surface then there doesn't seem much to stop them digging it up and carting in down the hill.
Great spot itsyou , I’m sure Jason will confirm your thoughts. Could bring down costs .
Nice catch!
They're running a tight operation here.
They're going for production rate of 25,000 Oz pa sometime this yearon Kilimapesa and we can see what they're doing to achieve this.
Big institutional investors won't get involved with MCAP below £50m most likely £100m and we're currently £18m so there's going to be a lot of growth first.
2Moz at Kilimapesa
1.4moz between Nyakafuru and Simba (before any drilling upgrades)
Further acquisitions in
Kenya
Tanzania
Uganda
Could well be beyond 4moz before we know it. No other junior could get close.
And surely the most exceptional difference here is that all the time the drill bits turn to build resource so the plant churns out gold. Self funding exploration. The only dilution will be linked to definitely value accretive acquisitions and production not discovery.
Expecting positive newsflow to pick up starting with Q4 results within the next fortnight.
Yeah it’s exciting knowing that the update sounds more than Q4 production figures. But Robbie has detailed and outlined a strong format to move forward with, and growth on numerous fronts.
An open pit mine on the mining licence would both help increase production by providing good quality feed stock for the plant and also help reduce AISC and so increase profitability of operations and all for a very low initial cost.
Underground mining
Open pit mining
Heap leach
If they can have all 3 running in parallel, this will begin to demonstrate the companies step by step plan to grow production.
My targets remain the same 5p first then 10p in 12mnths. I won't be taking anything off the table under 10p either.
VSA capital broker note has target price of 4.2p/sh expecting them to be upping that very soon!
BRING IT ON GREG
AG1989, I really cannot believe you sank 16 pints at the weekend and can still be this enthusiastic on a Monday?
I went on the bottles in the end. Pints ruin me something rotten but yeah, I probably enjoy my Saturdays too much haha
Only 16.... ?
What's wrong with you boy's lol
In my viee
In my view this is a classic opportunity to buy a value stock.
RNS says first assay results late Q1 end of March. So the lab must be regional IMO
My thoughts would be south africa, or there abouts..... plenty of gold mines in africa
RP - they actually have assay analysis on site I think I remember but obviously the official report will be independently lead
End of Q1. Anything else is a bonus and Jason touched upon the fact they may be back earlier but they don’t just want to release hole by hole. They’ll want to analyse the data and release them in batches which will be more effective (imo) and make it easier for the market to digest.
Holding well around 1.26p. Good to see others topping up and making the most of the opportunity :)
Also like doddy has said, between Kenya and particularly Tanzania, there are plenty of majors and multi million oz mines in the area, assay returns I can’t imagine being an issue but it will be interesting to see where they get sent
Robbie did a webinar a while ago. About an hour long; he may have mentioned in that.
There's multiple assay labs in Tanzania. I think it really just depends on who the BoD go for. Either way I'm glad they have something to send ;)
We have a lab on site, but i think it's main purpose is purely used for gold extraction.... ?