Member Info for AG1989

RRR & Caracal Gold, give me Robbie and his Van any day over that other company. They don't even compare and in its short existence at the mine, the direction the company are taking is second to none

I think there are plans according to Robbie to put them both to work straight away and judging on how pro active they've been this far, it doesn't surprise me

Does anybody know if there are any achieved reports around showing the historic drilling surrounding the mine?

One of the LTH's I'm in contact with on Twitter and Telegram has mentioned this to Bert

There's certainly a lot of potential beyond 150m, which may not have enough drilling to factor into the MRE, but possibly a future exploration target like LW says

Another big saving will be the ownership of 2 drill rigs. The upfront cost and drilling accessories "Drill rods, fuel etc" will still be an expense but long term, the value these fully owned rigs will generate will be worth its weight in Gold. Further savings on the plant and increased production with a possible announcement of further acquisitions, it certainly has the potential mickey

I normally try to find investments that are all Pre production.

Acquisition of license
Exploration
Growth
Studies that lead to production opportunities

Caracal is an Anomaly for me, but seemed like an opportunity I couldn't pass up. I like the vision of the company, off the bat wanting to expand into neighboring regions and increase operations. A Lonnnng way to go but I'm more than satisfied with the start the board and company have made

Thanks for the clarification everyone.

** the operating cost of producing 1 oz of Gold

ForeverNever

Small apology to make, outcome still the same. The AISC is $965/oz. the overall cost of producing 1 oz of Gold at the mine. But the overall total-total cost at of producing 1 oz of Gold was $1600+.

This equals (AISC $965 + $700(plant upgrades))

A factor I already knew but didn’t really think all too much about it. Had it clarified by Jason on Twitter. That $700 is inclusive of plant upgrades and total expenditure and can range from a number of factors in September: new drill purchases, new jaw crusher, upgrades to existing machinery within the plant.

Once these upgrades have been made and do not need factoring in on the following months, the total - total cost per Oz should decrease quite considerably, once the mine is at a sustainable level of 700tpd which I think is now.
Also, if the AISC of $965 is decreased by $100
By switching to the power grid, that’s another considerable saving.

If the AISC/operating costs was actually $1600, I’d understand the reservation surrounding the viability of the Gold mine, but it isn’t. It’s far less and the company have hit the ground running making necessary upgrades in its early life, to create a more profitable operation in the long term. Gets my vote.

Very bullish for me. But only my opinions.

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

RP - this makes for a fascinating read for me and I’ve posted it a couple of times. It’s from the tekeledougou license further south. A license too far away to truck Ore to Sanankoro, but only 10km away from hummingbirds Yanfolila Gold mine

2,000m drilled and
1m@100g/t from 11m
56m@2.2g/t
60m@0.7g/t

This paragraph caught my attention

“ · Less than 10 km from Hummingbird Resources plc's producing Yanfolila Gold Mine - potential fast-route to cash flow; and 60km south of Cora's Sanankoro Gold Discovery”

I’d love them to hammer this with 20,000m in 2022 as Sanankoro comes to terms with the construction of a mine. Highly prospective ground, and it would still take time but if the company can prove a resource up here and use existing processing facilities nearby, more added revenue.

ForeverNever

***"The wealthy wont be buying in. They are wealthy as they look after their money. They have no need to gamble"

The wealthy have been buying in, and at a higher price than todays price

https://www.lse.co.uk/rns/GCAT/holdings-in-company-sl823c6y7bs2m11.html

***"5m was last reported many moons ago. They are barely making money from current operations and have significant investment still to make to increase production."

How do you know about this significant investment? $5m, AISC means All in sustainable costs. They have broke even "Returned the money invested" and made a profit

***"They are not being clear on the actual AISC. Its certianly not the 900usd oz they have mentioned."

You clearly never read the next paragraph

https://www.lse.co.uk/rns/GCAT/q3-operations-update-66jfzwb18hecd9m.html

"§ Operating costs of US$985/oz were achieved in September 2021.

§ Total costs of US$1,694/oz were reported in September 2021. This includes the all-in sustaining costs and also the planned capital expenditures at the Company's underground mining operations and gold processing plant and acquisition of new equipment, purchase of increased stores and mine and plant consumables and exploration equipment. During this phase of replenishment, optimisation and capital investment total costs are not considered representative of the budgeted ongoing costs of the operations, which are expected to be more representative at the end of Q4."

And this AISC includes the CAPEX of plant investments and machinery upgrades so theres another point covered.

https://www.lse.co.uk/rns/GCAT/connection-to-the-national-power-grid-hiahdktu8n3jxqr.html

Operational costs looking to decrease by $100/oz which is also significant

***"Also there are rumours of a acquisition. With what money?"

Do you know the current budget of the company? The question I'm asking myself, is how big these resources are and when they'll get them over the line. An investment which will be significant moving forward

Just give MJard and the rest of the crayon crew a call, it looks like you've exhausted all avenues of deramping on here with these posts of empty substance and if this is the best you've got, GCAT are onto a winner

I think the question marks surrounding other companies around this Market Cap, a lot focus around

1 - A JORC Resource
2 - Funding to construct/manufacture and finally bring a plant online

We don't have those issues here. The company are free to concentrate on sustainability and higher levels of input for the company, for the foreseable future.

Way ahead of the curve here

Well spotted LW

$5m+..

Operating costs and overheads and payments to settle with Capital drilling. I still think they'll be sat on a comfortable Cash balance, but not enough for a vigorous campaign like we did in 2021. If this manages to get to 20/25p on good news, I've no issue in an additional placing of 20million shares to top up with the bank balance

Further upgrades to the plant.

“Plant costs” and “capex” are just words to some, but delve into them, and they provide a strong basis for the company moving forward.

Trench sampling results around the corner,
drill rigs arriving this month,
acquisitions in neighbouring countries,
Increases production
Lower operating costs

Never had the chance around 1.2p and by the time ST had put me onto this, before I blinked it was up to 1.6/1.7p, loving this opportunity.

Just taken some more. Averaging my way down from Around 1.55 in my ISA. Now 1.36 but had to add a bit to get it to that so I’m happy, will continue to follow it down

I was pretty impressed with the update the other day. Lower operating costs coming in soon and game changing acquisitions. Here for it all :)

The rigs I believe will have been supplied by Capital drilling team. The cost would have been into the millions I believe but only a couple of million. Companies with a similar market cap and cash flow have drilled 5,000-10,000m this year. When Cora began they were on around £15m market cap, that’s why we’ve risen nicely and others have continue to slide through 2021

It’s not just about the amount of drilling, it’s the quality of the host mineralisation. Superb stuff.

It would be interesting to see how much is left in the bank. I know the company are reluctant for further dilution beyond the term sheet but exploration costs and Sanankoro probably wont be online until 2023-2024

Grid 4 and Target 3 would be my next targets, try and join the North of zone B to the south of selin

Well said loch. I do believe there will be investors who don't like the uncertainty when a company has an interim leadership until new CEO is brought in, and have sold up. But for the investors who have been with ECR for a while and understand the projects, some may see this as an opportunity to top up. Lowest price in over 12 months. It's very tempting for myself at these levels to top up, nothing something I've looked at too much in the last couple of days as many still coming to terms with Craig's passing, as I'm sure the company are.

Jody, thank you for messaging. Craig will be missed and thoughts with his family. He had a way with his interviews to pull the viewer in and he was certainly excited by the future. His vision was clear, to build a business and not an overnight sensation. Slowly putting in the foundations to help ECR drive forward from here. Will always be remembered

With it being 100% owned (Sanankoro), this is crucial. Starts at surface, high grade, open in multiple directions and likely to have an AISC around $800. Considering Havierons pre feasibility study is around $600 AISC and will be the second lowest globally once online, little Cora isn’t doing all that bad ;)

When you realise that annual cash flow for
Resource 265,000 oz
Annual production 45,000 oz
Gold price $1500
Recovery rate 70%

Was $24.5m, try run the numbers knowing all 4 factors above will likely increase in the DFS. Could hit 60-70 koz Pa.

70,000*$1800=$126,000,000
Deduct $800 an ounce
70,000*$1000=$70,000,000

Quick cigarette packet calculations with Many variables to juggle, and there will be a capex payback period and a fluctuating Gold price but it creates great reading for Cora. Construction to begin in 2022 with a potential by the sounds of things to come online H2 2023.

Sanankoro for me will be one of the best discoveries in Africa this generation and will grow into the Millions of ounces with time. You can look at shanta, GCAT(the most undervalued for me of the 3) and hummingbird and estimate what Cora should be worth, but it will have enough substance and kit in its locker to create a storm with the stock market.

Just reappeared. Strange. Welcome back paddy