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We were asking for an official update and they have given it. The next promised update is when they receive a timeline from PKF. Hopefully not too long. Just good to get some official news.
Wonder how many people really believe if this relisted tomorrow without funding it wouldn't be a massive bloodbath.
PKF are saving everyone at this moment in time.
RM has conveniently DROPPED the part from today's RNS 'come back fully funded for the expansion'.
Careful what you wish for...
Lol, It's like another form of communication, I can see 3 green boxes , is this some form of morse code .
I can guess there is an angry statement about Robbie, GCAT going bankrupt and some insults aimed at people calling out crazy behaviour .
Anyway Mr greenbox, I hope you can find peace and happiness.
Fundraisers RNS from 29th September 2023, has this paragraph
The issue of the new Ordinary Shares to trading is conditional upon approval of a prospectus by the Financial Conduct Authority ("FCA"). Caracal continues to progress the prospectus through the FCA.
Thanks Bebeto - curious as to how have they have managed that whilst in suspension and without authority to issue shares until the Prospectus gives them that authority?
LW
They've forward sold the prospectus shares and nothing material for the company left in it.
£780k working capital was the last of it, going by all the fundraisers the company was overspending on average $388k per month, so end of June roughly before another fundraiser likely to be needed.
I only follow this for ole times sake now, but what is the funding situation here before they get the Prospectus through, which as I say, could take a while (or it might not). Do they have enough cash for the next 6 months, either from revenue or financiers?
Full marks for persistency - no idea about the content - thankfully
Guess what's NOT IN the RNS but was in the email reply.
'the company will come back on fully financed for the expansion and we will achieve our full valuation.'
Indeed the company are progessing , even if things are slower than we would like. Even that seems to rile the Green Boxes - you do wonder why....
We can only hope that they have been working as much as they have been able to in parallel so its not a standing start but lets see - as we have seen and as you say things can take a lot longer than expected.
Just wish the PFK would get their act sorted and provide a clear timeline. Clearly the company have been crying out for it.
Good to get an official update and that's all I really ask right now.
I appreciate they can't give dates when they don't know them themselves, but its nice to see the company is at last communicating via RNS, which gives more confidence in the processes to me.
Sounds like a little way to go still, but as is really.
Well at least there's an update of sorts, and a further update will be provided once PKF have provided the timeline.
"Following publication of the Group Audit and the unaudited interim results for the six months ended 31 December 2023, the Company will be in a position to resubmit its draft prospectus to the FCA for review and will aim to finalise this as soon as possible."
Should warn holders here that the FCA are not the quickest when it comes to issuing a Prospectus. For example, Bres have been waiting 3 months for theirs and is a well run company with none of the shenanigans that GCAT has had.
Unless the fact that it has already been submitted once will shorten the process.
'As part of the Group Audit an independent review of the Kilimapesa 3 year mine plan was required to be undertaken. This report was submitted to PKF on 3 May 2024.'
This is all part of the audit process as per the previous audit by PKF Littlejohn LLP the Senior Statutory Auditor is doing a thorough review to ensure the integrity of the audit.
RNS updates are the way to go, as I previously mentioned the Kenyan auditor is just one component and people complaining about the over kill of the investigation don't understand what is required of the company.
End of June as I've always maintained the process needs to be wrapped up by.
Was the green hornet alerting us to this good news?
OK we have to wait still but they are following a process and they are trying to get timelines.
Dead duck? Not a chance
Indeed Bebeto. And as you’ve already admitted. You sold here at a loss so easily parted indeed lol
Yep. S/He busy lecturing us on checking facts and accuracy. Not that long ago beebs was on here, punting Jason Brewer, of all people. Try following your own advice and revisit some of his 'facts' and predictions for this mine of ours. JB makes Robbie look like a glass half empty kinda guy.
Lol big underwater holders have to blame someone as they can't blame themselves for being in this position.
I'm delighted to be filtered as it gives me a free reign :)
I'll stick to RNS updates for information as grades aren't shown on photos.
Everyone is entitled to an opinion here not just the bully boy tacticians.
It's all a bit of a distraction from the real news about the company though.
I get the green hornet buzzing around as well - it always makes me laugh when there are 2 greens in a row - I always imagine the second one begins .... And another thing!
Fully agreed, the sat images tell a story for those who can be bothered to check (and no it's not Google maps ) and also doesn't cost you anything
The beauty is I filtered him long ago, I can always tell.when he replies as all I see is the filters being applied :0)
I haven't been on for a while as I'm getting on with life unlike the filtered individual who is somewhat obsessed with shouting down GCAT whether there be positive or negative news , saying that there is no news but still
Imagine other posters getting upset about being reminded of comments made in a RNS, says it all really.
A fool and their money is easily parted JC ;)
Lol it's very nice for others to take ownership of my posts but I'm pretty sure that I'm meant to be filtered and therefore my posts aren't meant for their judgemental comments.
I'm a shareholder here and I'm entitled to have a opinion the bully boy tactics deployed doesn't work with me as I've been in this game long enough to know that certain people are saying one thing and totally bricking it behind the scenes.
I took my loss early on and hold a sensible position and those who think I'm just here to cause trouble are actually odds on for a very expensive lesson in the world of small caps.
Happy to remain filtered as the trash always takes themselves out.
Strange people lie when they say they have filtered and haven't, curiosity killed the cat.
Swampmonster - I think that is my all time favourite opening to any post I have ever read here. Marvellous.
Bebeto
Thanks for the financial advice but I don’t we all need to be told to read RNS’s and how to go about our own investing decisions.
Listening to you certainly isn’t a good idea that’s for sure. You’re talking facts and look at the facts yet you’re the spouting nonsense and non factual statements / comments.
Listen to your own advice and post facts not rubbish.
Or better yet, don’t bother posting at all and do us all a favour….