Member Info for AG1989

There'll be some Holders watching this unfold, ready to jump ship without really thinking beyond the next 4-6 weeks. A lot of uncertain times in the market, and from a personal standpoint, i think we'll be heading into another lockdown in the start of next year - Just my opinion, and there'll be plenty wanting to protect their investments

I've got a bit spare to average down to will monitor the situation closely, and if the opportunity provides itself for a Sub 1p Average, I'l jump all over it. From their short existence, the company have delivered and continue to deliver on many, many fronts.

- They've increased production from an average of 100 TPD, and from recent Webinars, are targeting and hitting 700-800TPD
- 500 oz of Gold produced and sold in September
- Target to hit 1000 oz in December which the BOD sound pretty confident of hitting, profits all being recirculated back into the mine
- Switched to Grid Power saving $100/oz. That equates to around $50,000 a month based on Septembers figured, $100,000 if they hit 1000 oz per month
- Acquired 2 drill rigs to immediately expand current Resources at Kilimepesa. Drill rigs arrived and they wasted no time getting them into place and getting underway
- Acquired 2 assets in Neighbouring Tanzania which could increase Group Resources to 2Moz
- Will be on the ground immediately at Nyakafuru, updating historical studies and driving this towards production of 50,000 oz - 100,000 oz
-Plant machinery and Equipment upgraded at Kilimepesa and this will continue for the foreseeable

Look for those companies that are delivering, and aren't just Hot air and Empty promises. No matter how much you believe a stock is undervalued, you have to accept and appreciate what the market value it at. And because of this, look for the companies that are expanding and building a pathway to growth, like Caracal are. Not those companies content with doing the same old thing, time after time. Look for bigger and better, that's what we're getting with Nyakafuru

It's a brilliant opportunity. A lot of work going on behind the scenes which isn't really being appreciated by shareholders and those watching on. I have nothing against Traders, is that's how they want to make their money then fair play, but I'm in this for the long haul. Whether that's 18 months, 3 years, or longer, i don't know yet but this company will grow into something substantial

I also believe the operational updates from Kilimapesa and future ones in Tanzania will continue to impress. The recent acquisitions, you just have to look at some of those high grade results from very shallow depths. The beauty of the 1Moz too, rather than 1 deposit starting at surface and going 400/500/600m down, you have 4 separate deposits with immediate pay once you get stripping. Will really help the balance sheet come production with a lower AISC

I really believe Jason, Robbie and the team want to be a significant player in Africa, they really do. Its not a WSBN EEE ORR type of stock, where your years away from production, even a feasibility study or JORC Resource

We have it all here and have acquired close to 1.4moz of Gold for less than 10% of an average discovery cost, that’s insane value. I’m tipping Caracal to one day have Group Resources of 5Moz and annual production of 100,000 oz+.

I can see 5p within 12 months, a valuation of around £80-£100m. Plenty of work to do but they’re certainly getting after it. My average is now below 1.2p, on both of my accounts and I’m happy to let it ride, and il top slice accordingly

If those are the acquisitions that are out there, and they’re the rates the company are getting, this could go anywhere. Use the £5m loan note to progress Tanzania and limit dilution, whilst delivering growth. Caracal for me have reinvented junior gold mining exploration and have shaven 3-5 years off from the process, sublime.

Just some basic maths based on today’s price of gold and future projections for the company. But these are targets I believe the company will hit and will certainly put them in the leagues of shanta gold and some smaller mid tier companies.

Long way to go but with the company already producing, and currently expanding their operations, I see todays price as a blessing and an opportunity and that’s why I’m here

1,000 oz per month * £1350 X 12 =

Annual revenue of £16.2m

Puts it into perspective when you release the company have 1.6MOZ of Gold, production will increase and they work hard to bring Tanzania online between 50,000-100,000 oz per annum

£67,500,000-£135,000,000

Plus any additional acquisitions and expansions from the company. Mop these up :)

I’d be surprised with the early progress they made if drilling hadn’t began, thinking of a top up this morning

Has it started? Seen a shed load of tweets about site pre etc. Unless I’ve missed something obvious

In terms of rivalling Havieron, not even close, on any scale. Your talking about a Tier 1 deposit, super high grade with extremely low AISC once production starts

In terms of share price rise? Who knows. Who knows. Doubtful but if anything will send this rocketing, it’s the green hydrogen project. Gold projects both have a lot of work needed and THAR is anybody’s guess. But the Hydrogen facility may just be a huge catalyst. When an(at the time), £8m MCAP company signs an agreement with PowerChina for a potential $2B green hydrogen plant, this could go anywhere.

Very glad to have loaded up in the £0.0030s as the market cap down there felt fully derisked to me. Great week and let’s hope it’s followed by news next week

Was about the pull the trigger with £4K on a 1.15 BID as I’ve not had the opportunity that low yet, decided against it. Il see how Monday treats us but definitely a time to top up

Nyakafuru

-Agreement to Acquire 100% of Tyacks Gold who are the holders of 11 granted exploration licenses and an exploration and mining license that are under application
-Assets include established exploration camp and infrastructure
-Acquisition payments of $7.12 per oz
-Targeting 50,000 oz per annum
-Development studies
-Up to 1,059,230 ozs resource including Nyakafuru Reefs
Grade:1.67g/t
Gold ounces: 658,751
Nyakafuru Reefs
Grade:3.56g/t
Gold ounces: 400,448
- EIA approved providing opportunity for near-term development
- Next steps include license application approval for the Nyakafuru Reefs Project, additional resource definition drilling and appointment of Projects. Team to complete updated study and commence on site construction activities
-Total exploration license area approx. 280 km2
-The Leeuwin, Grange, Cullen and Voyager and Mentelle deposits are all located on existing granted exploration licenses

Voyager Deposit:
19m at 16.69g/t
20m at 10.29g/t
12m at 9.1g/t
3m at 59.72g/t

Mentelle:
13m at 29.89g/t
12m at 10.96g/t
16m at 2.07g/t

Cullen – Leuwin Deposits
13m@2.42g/t
8m@1.77g/t
12m@3g/t
25m@3.27g/t

Nyakafuru Reefs:
13m at 4.19g/t
24m at 10.29g/t
10m at 15.98g/t
17m at 12.97g/t
-Will add a further 400,488ozs to the company if exploration and mining license application is successful

All look like shallow, high grade deposits with Open pit a preferred option with simple extraction

-Resources based on approx. 3,160 DD, RC and AC drill holes totalling 186,000m drilled
-Further resource potential at Voyager-Mentelle and Leeuwin–Grange with strike and depth extensions
-Existing deposits have only been drilled shallowly and significant potential for depth extensions remain
--------------------------------------------------------------------------------------------------
Simba Gold Project

-Located 25km northeast and along strike from the Nyakafuru Gold Project
- JORC compliant resource of 320,000ozs and major exploration upside
- 4 priority prospects delineated at Simba
-Broad, near-surface gold zones intersected
-Advanced Exploration
- to acquire a 75% interest in Simba Gold Project
-Next steps include additional resource definition drilling as part of a broader and consolidated exploration plan incorporating the Nyakafuru and Simba Gold Projects

-Drill Results include:
86m@1.7g/t
62m@2.4g/t
74m@1.8g/t
44m@3g/t
--------------------------------------------------------------------------------
-Future growth will come from increased production and exploration in Kenya and from the acquisition of further advanced and near-term production assets
-Tyacks Gold and Shangaza Golden Group acquisitions are firmly in line with the
company’s growth strategy and regional expansion in East Africa
-Acquisition costs of less than US$5.00 /resource ounce
-Potential to increase JORC resources by 250% with an immediate 1.0 Mozs added
-Landholding increased by 700%
-Resource dr

PP - I’d be very surprised if they never had an XRF. Accurate piece of kit which can give the company a solid indication. I just know there have been 1or2 companies that have released XRF results, then recieving slightly altered results back from the labs. ECR stated they were going to release their XRF results but we’re a little more cautious and waited for the official independent assays. It will be interesting to see how they play this one out and if early indications prove promising, we could well hear some preliminary results.

300m should take 2-3 days max using Reverse circulation, a little longer with diamond Core, although DD has a higher % return. RC drilling can sometimes only recover 80-90% of the core, losing some of the samples along the way.

No problem, appreciated

I knew there would be some kind of challenges working out in that kind of Terrain, but that’s a factor I didn’t really think upon until recently. But with temperatures hitting 40-50 degrees at times, it makes it next to impossible to carry out a full shift in that heat, wearing head to toe coveralls and additional safety equipment.

Wsbn is still a speculation stock for me, with a little extra. Every small cap explorer has “potential”. But results will do the talking here long term. Results, results,results.
Results which demonstrate the potential on Wishbones license, not only to generate a market reaction, but to demonstrate there is something of substance hiding underneath. A 30,000m campaign is some statement and more than enough to dissect Red Setter & discover what it’s hiding beneath. Not a mere 2,000m 10 hole job like you see with some exploration companies on the AIM. Take a real thorough look and put yourself in the best position to create value

And “if” the company unearth it, those averaged between 7-10p (and lower of course) will be rewarded handsomely. With limited exploration on the land prior to this campaign I can’t really comment much further. I’ve witnessed 30-40 Anomalies drilled in the Paterson, a number returning significant intersections, some not so much. Depending on comms from the company, this could drift back down to 7-8p during the quiet periods, at which point il probably pull the trigger and buy some more. The RNS a few weeks back had a lot of substance to it, and the market reaction spoke for itself. I think you can use the same theory for today’s RNS. It’s not vital but a little more detail about the ongoing programme would go a long way in the weeks and months ahead

Let’s hope the Geo’s soon have their eyes on some golden visuals.

Next year *

Good to see you here Trek and agree with what you said. It’s what I stated before, certainly felt like an opportunity missed, but there’s still plenty of time for the company to redeem and bring shareholders on board for the Red Setter journey.

Surprised it finished sub 10p. I know what I’m expecting with comms here from now on and will align my average here as low as I can. Assays should be back I believe Q1 probably best year and it will be interesting to see whether they report Hole 1 as its own entity, or a mix of 6-8 300m holes.

It will be interesting to see how many metres they drill in this section of the 30,000m campaign. Just to the NE, Antipa minerals chairman Stephen Power recently stated that drilling will be halted for a couple of weeks from December/January. The heat out there in the Paterson Desert, is so unbearable, the duty of care steps in and operations are temporary halted.

I have other investments occupying me right now but I'm still fully invested here, and it is creating a brilliant opportunity. I say that from a personal perspective because it's trading at levels now, lower than I've ever witnessed

And like all other stocks, it'll only take the right news. But you need to put yourself in that position to generate the news. Creswick has always had the ability to do that and a vast land package in the victorian Goldfields with proven grades will attract some interest "further interest" from majors.

LuckyOrange - They will hit it. I agree with this. Between the scout drilling and follow up drilling to come on the hotter zones, i think ECR will strike further high grade pockets. Also, pleasantly surprised with the recent grades from HR3 and further drilling targeting the anticline could throw up some very nice results

Was very surprised to hear little to no information about the Creswick drilling. With the previous results, i think it would be extremely unlikely for the company to hit 8 dusters with the remaining holes. But with a lack of reporting, and the licenses granted to EL006907, there could be something bigger brewing here. An 8 hole Creswick RNS with future work planned out across a number of their Creswick licenses, extending the current strike length

I agree T-Bagger. The Catalyst here is Red Setter in a Tier 1 province. Just from past experiences i know how the wait between news in the exploration sector can drag, and it does. 6-8 weeks drilling, and a possible similar timeframe to get your assays back from the labs. In the meantime it would just be a little more useful to have a little bit more information, and to discuss on here.

I'm sure we'll get an update as and when this progress. I don't want exact timeframes, i agree, it creates a traders market. But rough late Q1/early Q2 estimations, something like that. Let's get that Gold and support the fantastic work thats ongoing throughout the Paterson project

Lots of talk of Telfer and Havieron, but the Paterson is delivering more and more in recent years in terms of potential multi Moz projects

Telfer
Havieron
Winu
Minyari
Calbire

Lets hope Red Setter has similar potential. Even a shallow 300,000-500,000 oz deposit would be company changing and very rewarding to shareholders. Let's demonstrate enough potential to get a JV partner in and spend "X" millions proving up the ground

saheed - 100%. Was never to come across as a "de-ramp". The point is, the drill rig is finally spinning away at Red Setter, that's the only way they'll return value to shareholders. I just thought it was a poor attempt, and a chance missed to relay any further information on about the drilling campaign, back to shareholders

Details. How many rigs, how many metres planned in this sector of the drilling campaign. Timeframes

Basic information you see in 90%+ of exploration RNS releases

"We have commenced drilling" just seems very lazy reporting to me

Encouraged to finally see drilling commence in a Tier 1 province

But that RNS was pitiful. Shareholders have waited an age for news and to be greeted with

Richard Poulden, Wishbone Gold's Chairman, commented, "We are very pleased that drilling has finally started at Red Setter."

is a bit of a shambles to me