RE: The company8 Jan 2022 11:36
Hey Gunst, welcome on board
Like others have said, the best thing to do is to DYOR, it won’t take long to go through the RNS page and dissect what’s been going on this far. The interviews, and presentations on the Caracal website will drive you in the right direction
I created the Twitter group and il happily add any shareholders who are serious in moving forward with gcat.
Brief summary:
-The company acquired the Kilimapesa Gold mine.
-It came with a Resource Base of over 600,000 oz of Gold
- The company are producing Gold at the minute, in September they sold 569 oz’s. Now this may not sound like a lot, but to have that kind of revenue coming in on a monthly basis, for a junior company is unique. When you consider an average price of $1790 per oz, and that’s being conservative lately, that’s a monthly revenue of $1,018,000. Other junior exploration companies with a market cap as low as £18m, are years away from even thinking about production
- All revenue/profits have been reinvested back into the business, on new equipment and various other purchases to increase that number to 1,000 oz by the end of December. There are then plans to increase this to 2,000 oz a month and eventually onto 50,000 oz per annum
- The company recently acquired a diamond drill and a reverse circulation drill. The drilling is underway with the diamond drill focusing on expanding the current Resource at Kilimapesa hill, and the reverse circulation drill opening up the southern mineralised zone. They believe they can increase the resource to 1moz by mid 2021
But then it gets better
- The company recently acquired 2 assets in neighbouring Tanzania. Nyakafuru & Simba.
- Nyakafuru 100% (1.1Moz)
&
Simba (75%) (320,000 oz)
- Nyakafuru, the company have applied for an additional license called Nyakafuru Reefs which would increase the total Nyakafuru Oz’s to the 1.1Moz and group oz’s to 2m already.
- This has previously been taken to a feasibility stage and in terms of exploration, is ahead of Simba. The company are looking to revise the desktop studies and move this forward into the production stage, I’d imagine within 18 months potentially. The target here is 50,000-100,000 oz per annum, this is on top of the Kilimapesa Gold Mine
- Having looked through the historic drilling results for Nyakafuru, the upside potential is enormous. There are many targets that have been drilled there, delivering shallow, high grade Gold. But these do currently not have a JORC Resource estimation, so when they do and drilling resumes, I believe Nyakafuru alone has the potential to host well over 2Moz.
Then there are plans to expand into South Sudan, Ethiopia and Uganda but even heard very little on these
The upside potential is mouth watering, they really want to grow this into something substantional and it’s a screaming BUY for me. But like I said before, always DYOR. you’ll be impressed what you find :)
Sign In
Follow the stocks
