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Totting up the 'gold recovered' figures stated in the RNS for February and March is around 16000 grams. At current price of a gram of gold of $75, that's around $1,200,000. That seems quite good to me ? (not sure how much of it is actual profit though !).
@sw10000
Your point:
"3. Is the finder still there or not? The statement states it's impact the ability to GET funding which is essential"
RNS reads:
"The delay in completing the Company's audit for the period ending June 2023 (as announced 9 May 2024) has affected the Company's ability to COMPLETE the financing for the Kilimapesa expansion project."
Get Vs Complete
Read it as you will but you could argue the funder is there but nothing can progress until the audit is finalised?
CCC - in your view. Time will tell whether you were correct or not.
Agreed. Also answers the question where the money has gone. Hopefully a series of one off costs (with appologies for the oxymoron).
What is frustrating about this is this has all been done at the expense of GCAT with no come back for the funders or auditors
Probably a wise decision in hindsight, the questions I have are quite simple
1. Caracal have raised several large quantities over the last 6 months - What has this been used for?
2. With the price of Gold in addition where has the money gone?
3. Is the finder still there or not? The statement states it's impact the ability to get funding which is essential.
Despite having a large amount invested, this is a binary 1/0 , either if comes back to the market or doesn't IMO.
If / when the auditors sign off can it produce without receiving the funding ?
So we do a new mining plan at the behest of possible funders. This new plan then get sent sent for independent pressure testing on the auditor's request and your response is, well how do we know its not crap? Would you like a flow diagram?
Sorry to all investors, this is not going to end well.
Made a decision to bail sometime ago at 0.39, although at a loss probably the correct move.
Good luck though.
sono***un - how do you know that they aren't?
audit then prospectus then funding then expansion then happy days.
all in my personal view of course.
is it a "cunning" new mining plan or just the old one on a new *** packet.
Not the most positive of RNS but it's better to have a truthful statement, the question is do we still have the funder at the table?
· The delay in completing the Company's audit for the period ending June 2023 (as announced 9 May 2024) has affected the Company's ability to complete the financing for the Kilimapesa expansion project.
So why are the funders not queuing up to throw money at this if its as good as Robbie makes out.
Kopfkissen - you have to remember that the auditors have the new mining plan which they are independently reviewing and possibly an idea of how the funding is going to be achieved. The new plan requires the funding and the audit needs to be complete to do the prospectus to acquire the funding. So the wording in the latest RNS is a dry summary of where we are today and should not influence the audit team. I would be amazed if the independent review came up with anything other than confirmation that the mining plan makes sense economically but until the audit is produced that is just my thoughts on the matter.
Just need the auditors to complete the work and this train can get back on track. Its that simple.
So can the auditors in good faith state that this is a 'going concern' when you read this latest RNS ?
"Notwithstanding recommencement of the milling plant in February and the raising of funds toward the end of March - the mill motor failure and heavy rainfall were amongst some of the challenges faced in February and March and this has meant that our working capital position is extremely tight and this carried forward into April.
Touch and go for the future I think.
Be surprised if we’re not back up and running in the next few weeks. Can’t be far away now, hopefully PKF are sorting the final parts of the audit out.
Would dream of some funding/ good operational results to get released in tandem with the re-listing… one can only hope 🤞
Ideally it would come back fully funded otherwise big holders could offload and use their losses as a tax benefit.
So there's always a silver lining for some in this game.
Reminds me of GCAT too.
The bit I think you miss is that I also desperately want the share to come back. Just because I don't share your super happy outlook on this share that's been suspended for months doesn't mean I don't want it to be unsuspended.
I'm just bored of all the BS. It's 29th November 2022 all over again.
It is now Shrodingers Duck it would appear.
Daniel - errr - no they can't - they just sh&t themselves and flap a lot - reminds me of some posters here.
No but they quack a lot when being strangled.
Dead ducks don't quack Zan
Go on JC?