Member Info for AG1989

Yeah, i understand that. I think I'm fortunate in my perspective that I'm loading up at the lowest its been in a long time. For those recently buying in the 1p Zone, you'd feel very aggrieved. The THAR and green Hydrogen projects look like the ones that could be company makers, especially from £8m MCAP. But i got in for the Gold, NZ especially with a proven track record of a substantial amount of low grade Gold, with further results drilled with Oracle. Jundee East, we have to wait and see

I've spoken to Mark fairbairn from Stockbox who said he'll try and get Bert on at some point soon which will hopefully be encouraging. It's easy to forget sometimes that if on schedule, the DFS will be completed within the next 4-6 weeks whilst in the meantime we'll continue to recieve results from the remaining holes at Sanankoro. It'll be interesting to see what the lead time on some of the mine equipment will be, once construction is allowed to begin, and also with that, the timeframes estimated before Production can begin

Good point itsyou, i think HL recoveries hover around the 70% mark, where CIL should be a lot higher. I think this is why they opted for sending the lower grade pay to the HEAP, mitigate your losses with the high grade material.

The Heap Leach is an enormous bonus here and long term will compliment Production extremely well

Assays + Q1 Results

Plenty of Ammo to fire at the market, and room to plug any halt and that Gap back to 1p. With a Resource upgrade imminent, you'd factor in hitting strong mineralisation. Companies can drill and hit more Gold but it doesn't necessarily correlate to a Resource upgrade if theres not enough Gold

If the CIL plant has been running now stop, we'll see if there is a production output barrier around the 900 oz mark, or whether they can punch through 1000 oz, prior to the upgrades. Keeping the operating costs down too, that'll be an interesting read

By all accounts it isn’t PI’s selling, but has been some of the larger shareholders. Like Goldplat, these things happen for a reason but could indicate a near term halt to the selling. 0.0070’s would provide a unique opportunity long term

Although I do have a position in Oracle Power, but the case for that investment goes beyond just Gold

I know sometimes you don’t want to use a company as a benchmark because you sometimes feel you can go beyond what they reached. But Shanta really is a good start. Not that long ago they had a MCAP between £150-£200m. I strongly believe that can be replicated with Cora

Yeah, I just got to a point where I was sick of companies raising millions, with no Resource to show, and very low grade Gold in the ground, if anything. Africa doesn’t have the investment pull that Western Australia has, but there’s certainly not a lack of Gold

When those particular companies raise capital or secure equity through a variety of means, and your filled with confidence that money will be well spent, that’s the kind of investment I want. Reassurance that the £m’s in the bank will go towards growing your deposits, and increasing your production foot print. Cora’s recent results. 31 out of 38 holes returning Gold, a number having significant intersections. We have that here, we have that at Caracal. Plenty to think about and targets to tick off, but I currently wouldn’t swap either of them for a micro cap company in Australia, Canada or America.

I’m always on the hunt, but I’m far more reserved now. Im
Not stubborn. If I stumble across a company in one of those jurisdictions really delivering, I may execute a position. But I look at ecr, and especially wsbn, and there’s just not much you can hang your hat on. Especially the latter, with drilling to commence soon, they’re in a similar position now, to what they were over 12 months ago. Great SP movement this week, but it’ll remain volatile for a while. Assays will be months off

The dilution at GCAT does get you thinking. But the end results will be a significant increase in production, and well over 1Moz of Gold added to group resources with Tanzania. Substantional long term

Same with Cora, and it’s term sheet and it’s ambitions to turn Sanankoro into a Mine which could have a lifespan beyond 10-15 years. That is enormous, with high grade pay dirt to feed it. Get production going, and target new discoveries. I have a feeling the company will use Selin first for production. Some very high grade veins to zone in on, to help with margins once production begins. But those zones will need replacing over the years and I believe we have the asset for that. If you don’t replace your better mined ground, you get into scenarios we’ve seen at hummingbird and sometimes Shanta were AISC can and will rocket up, only to be saved by a strong POG

I’ve got an exit price in mind here. It could come within 12 months, but will likely take 2-3 years, maybe longer but I’m willing to wait that out. And if Cora, target discoveries and mines beyond Sanankoro, this could be a generation investment for myself. 5-10 years, but il assess along the way.

The positive is that everyone seems to be in the same boat with Cora, with a longer term view in mind. They certainly have the ground, a tiny MCAP, a route to production and vast amount of room to expand resources for the foreseeable. More than many of its peers have

And yeah LW, i think the difference with you is that your invested with GCAT, and your not invested here, yet. but there's no right or wrong answer and as you say, you've vented your shortcomings over on the other board, as you would. It'll be interesting to follow both. Will Cora hit 50,000 oz per annum before Caracal do. Both are set to grow, just a bunch of financing & CAPEX to contend with along the way

In terms of Cora, because of its asset, it should always have some kind of "retention value" allocated with it, with all of the growth over the last couple of years. With a £20m MCAP now, if it drops from here, for me it provides a unique opportunity to
1) Increase my allocation
&
2)Lower my average in doing so

Whether the term sheet will provide available funds for continued exploration while the Mine is being constructed, or whether BM has to come to market again, who knows. But once the term sheet is triggered, there's that clear pathway to look forward to a very successful and bright future.

LW - I think the only Comparison i have right now with all of this, is our investment over at Caracal

Although it's not officially wrapped up and packaged as a "term sheet", the outcome over there is a similar situation. The end goal for both companies is to increase the current production rates, and get to production in the first place. But with that, shareholders will be faced with dilution, from numerous angles.

and although it's been on my mind over at GCAT, I'm invested because of its long term strategy, as i know you feel similar.

But you only have to look at the last placing, at 0.0095, over a 20% discount to the daily price there. Will the next one be as hard hitting?

https://www.lse.co.uk/rns/GCAT/appointment-of-joint-broker-clarification-njmq61t0tipha0p.html

There are still chunky payments (shares)to be made for both Tanzanian assets when certain milestones are met, leading to more dilution. Also, when they increase production to 24,000 oz per annum that'll be an enormous achievement for the company and margins moving forward, but then to increase that to long term aspirations of 50,000 oz per annum, (so double), it's going to take an awful lot of investment, as you know RM already stating he'll be coming to market. Then when it comes to drilling in Tanzania, additional funds will need to be made available for this purpose.

Do you have similar concerns over with GCAT, because as i look at it, at both investments, that's definitely the one that plays on my mind with long term dilution for shareholders and hundreds of millions of shares being issued, possibly over 1B. Like already mentioned, I'm in because i like the long term strategy, the reserves, the resources and production opportunities. But there are many, many hurdles over there to navigate. With Cora, after the term sheet, i see a much more clearer pathway to shareholder value and generating it

Both long term, have tremendous potential, but will need financing quite significantly in order to put them in that position, with Cora targeting 50,000 oz from the start

Would like to hear your thoughts on this, as always

**Apologies for talking about GCAT, i think just think both companies are in similiar positions

Bigun2 - It's a slow burner thats for sure. But I've seen this move fast, and traded along the way with World class results. I'm still of the same mindset that the same can happen. The Term sheet has no set barrier that it needs to remain at 7p, because of the discounted Equity up and coming. It could race to 16p, it just means those funding the term sheet get in at 13p. There's just this negative feeling for whatever reason towards this share and its far more important for think beyond the next couple of months for benefits of my investment here

We're doing this to death again, and it seems since yesterdays announcement, more doubts are creeping in

It was a GOOD announcement, they've found MORE gold, with more to come. It's certainly not deterred my outlook here. the reaction could have been better, but the story remains the same.

Without the term sheet, Sanankoro has no future. I haven't got millions to finance it so those who have, if they get a discount, so be it. I'm, ready to average down if i can, but long term goals of multiples of this MCAP remain the same

SHAREBUYER - What's encouraging for me beyond the 2 new discoveries also was the surface gold recorded at the Bokoro II permit recently.

https://www.rns-pdf.londonstockexchange.com/rns/2795D_1-2022-3-1.pdf

Beyond the Sanankoro shear Zone, the connecting licenses look to be littered with Gold, opening this up to be a Multi Million oz Discovery, and in a rather quick frame time. Once production begins and they can explore beyond here, the prospect of increasing oz's and maintaining reserves looks mouth watering

https://www.lse.co.uk/rns/CORA/exciting-high-grade-tekeledougou-drill-results-od1qxegoc1s9016.html

These are the results from the Tekeledougou Permit 60km south, located 10km from Hummingbirds Yanfolia mine.
56m at 2.2 g/t Au
60m at 0.7 g/t Au
17m at 6.8 g/t Au including 1m at 102 g/t Au
15m at 1.17 g/t

gold, gold and more Gold.We just need the term sheet triggered and kick on from there. This has the potential long term to be an enormous gold producer, let's hope the surrounding fundamentals begin to line up in our favour

I remember LW making a good point not too long ago. If the term sheet is triggered in the near term, it shows confidence with them on the future outlook not just on Sanankoro, but the surrounding and political Jurisdiction. Until we hear otherwise, i remain quietly optimistic

"Drill programme consisting of 11 aircore (AC) shallow holes for 897m and 78 reverse circulation (RC)
holes for a total of 6,992m (4,958m at Zone B North; 1,092m at Selin South, 504m at Fode 1 and
438m at Target 6) now completed at Sanankoro"

3 things I'l be looking for in the results
-Follow up RC holes on new discoveries could be significant
-The majority of drilling was focused on Zone B north, I'd assume the bulk will be to convert inferred oz's to indicated. So more of the same as what we got today and we're looking very promising
- A continuation of strong results at Selin South

It’s very positive news, and in time hope it brings on new volume and investment. But new discoveries = more oz’s and push Sanankoro further towards that magic 1Moz value. Will take a proper look on my break in work.

Brilliant. Some really nice results from Zone B too, which is probably considered one of the weaker of the discoveries we have.

New discoveries. It’s just brilliant and I can’t wait to see the full potential of this to unfold. Very excited.

Was in a rush before and saw the Price at 0.0087, tried a quick top up and the spread caught me out. 0.0093 i got but keeping an eye out for more in the 0.0080's

Yeah, no dramas Stocktow don't worry

Yeah, "near future" can be quite vague and if this was ECR or was of my previous investments, near future can be dragged out beyond 6 months. The wait for some of their results was soul destroying. But i think Bert is somebody i can really trust in driving Sanankoro forward and creating long term shareholder value, i really do.

A lot of corporate fog which you need to wait and clear, ie the term sheet but I'm using it as a Catalyst. We have top shareholders who have backed this and financed the company at every turn, there was always going to be a discount going for those funding the mine construction. Chances are, PI's, if they have the available capital, will have the same chances as those in the consortium, at executing low level positions. I'l be happy to average down in that case, but with brilliant results expected (personal expectation), there's every chance they catch the market off guard, bring on a flurry of volume and send the share price up

I've asked Mark from Stockbox on twitter whether he can conduct a near term interview with Bert. The Stockbox interviews for me seem to get more out of the CEO's. I'l await his reply

LW - I really don’t know but maybe something we can ask Bert, whether we’d get a direct answer who knows. But I’m on 100% agreement with what you said yesterday, the sooner the better. Get the DFS released then execute it. It puts Cora in a position to construct a process of works, and getting the mine actually built. Also, it can let any kind of hand brake off the share price and give it clear scope to run. Possibly followed by a further resource upgrade ?

Stocktow - I know as much as you. Near future is near future but based off last years results, I take it as weeks and definitely not months. But don’t take that as gospel. Like I said, they don’t seem delayed and we have them all to come, they arrive when they arrive. And I’m sure when they do, we’ll be treated to further exceptional results :)

I had a private message of somebody who has spoken to Bert. He said there was no delay and they hope to release the results in the near future

I don't see any issues. We were blessed in 2021 with the swift returns from the labs and reporting, it doesn't feel to me like they are "delayed", especially when you consider how long it takes elsewhere, we'll get them soon

Yeah 100%. Walk before you can run. Mine costs obviously vary, and if your out in WA building a 500,000 oz per annum mine, it’ll be in the hundreds of millions. You can look over at Cora, and I know we’ve debated the term sheet, but they’re targeting a 50,000 oz per annum mine, built from scratch so that’s where I’m “guesstimating”

We’re in profit, and with completion of phase 3 in 2022, and larger heap leaches, there’ll be a lot more profit. I’d be more confident of securing equity and debt financing than a continuation of share distribution. But to get to that stage, we need to take care of the initial steps at Kilimapesa.

Toll treating in Tanzania, as well as utilising existing , under loved mines can be an option. I feel I need to ask myself, once share payments have been made for the Tanzanian assets, once They’re up and running and fundraising’s are complete to give the company a clear pathway, what will the MCAP be, and ultimately the Share price. I can see great things coming here for a company willing to take advantage of an overlooked jurisdiction.

The production figures are a huge catalyst here, but number 1 for me, is the resource. Once investors see the company growing assets to 2Moz,3moz and towards 5moz, be sure that they’ll get involved, but at maybe 100-200%+ the current value.

It’s hugely derisked, and whilst 80%+ of Gold exploration companies are plowing millions into establishing a resource, let alone building a mine, Caracal are 5/6/7 years ahead of that curve.