Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Yawn
@jemmjee Be really interested to see how you arrived at £300k ... perhaps you could explain the steps and your reasoning?
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@vergerBlue Welcome onboard BB ... any relation to ChinaBlue?
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Well played GUN ... Charger metals shares now sold down to a 2.1% free-carry holding representing their initial £261k stake acquired pre-IPO and at IPO of Charger Metals; the proceeds have now funded a 25% stake in the Black Shist project in Finland for free.
All we need now is for this relentless bear market for commodities and precious metals to end and GUNs investments should appreciate nicely.
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Really good to see an RNS dedicated to copper and the JORC M2 resource in particular focussed around the Huntoon valley where they have confirmed that they have staked additional claims at the western end of the valley.
Nice to see our resident trolls doubling down straight away with the relentless negativity and calls for a placing.
GWMO have clearly stated that they are seeking a JV to develop their copper prospects and this RNS increases those chances particularly if they can "join up" previously lower confidence areas of mineralisation at the M2 prospect which should then significantly increase the JORC resources already confirmed.
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I just find it utterly amazing how the trolls on here can take a perfectly clear RNS supported by a JV agreement and a very recent interview from NvS and still manage to find a line of argument, selective quoting of RNS et al as a means to cast doubt or provoke an argument.
Its a rare skill ... just not a good or particularly useful one!
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@Watcher with respect read the RNS and the many comments from many posters including myself talking about $1.55m of temporary or bridging finance now being in place until the full primary $7.5m+ Royalty based finance is approved which in turn will then allow the $3m subsidiary finance to be established.
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@Calgacus LOL if you read just ONE sentence more you will know that this was what they previously reported ... in fact you only picked half of the first sentence the FUll sentence is "Following delays outside the Company's control, including the difficulties of securing concrete supplies in a remote location at a reasonable price and a shortage of appropriately qualified personnel available in the area resulting in a stop-go situation, now resolved, together with unusually severe weather conditions in 2023, the mill project is nearing completion."
Your omission makes it read the EXACT opposite of what it ACTUALLY says. The piece you did refer had been previously reported via RNS so you cannot even claim it as new news as you were clearly trying to
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@GTMufo Just please give your relentless negativity about absolutely everything a rest will you?
To say it is tiring is a mild understatement
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@Damocles Succinctly put and nothing more to add ... suggest "other" posters read the RNS and stop jumping to wild conclusions
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Good to see $1.55m or £1.3m of combined short term funding announced that takes away the "Going Concern" issue by "bridging" the finances until main funding lands and can thus be paid back using the new funding as stage 2 work is a sub-set of what the new funding is for but brings it forward.
IMHO those focusing on the "cost" of the new short-term $1.4m funding need to balance this against the "value" to shareholders of taking away the going concern issue & value created by starting Stage 2 rather than waiting X months for Royalty funding to arrive ... for example:
Nov-23 = cash $1.4m
Jun-24 = payback $1.75m so cost of loan = $350k or £292k for 7.5 months or a 40% annualised rate
So GCAT have 7.5 months to complete Royalty funding so $1.4m loan costs capped at $1.75m or they "Step up" to $2,100,000 if settled on or before 31 December 2024; this would be a cost of $700k over 13.5m or a 44% annualised rate
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@SeisNav Been running and updating this chart for 2 years and its uncanny how the patterns and price points repeat which is 100% clear in hindsight ... using them to trade in the present and/or to make decisions to buy or sell is a whole different ball game
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Updated chart https://ibb.co/c1vb9Kr
As pointed out 7-Nov-23 I suggested likely outcome that we strongly break top of prior accumulation wedge around 3.7p and we spiked to 4.25p. Price has now pulled back to 3.7p confirming that top of prior wedge is now support ... very clean chart action!
I still maintain my near term measured target of 6.3p as shown by the green inverse Head and Shoulders pattern
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Posted by ARC yesterday
https://www.youtube.com/watch?v=uRRRwsCqCjw
Fan-blo/ody-tastic news !
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For those that believe in TA and charting voodoo:
We have broken above previously ascending wedge support line @3.5p that should now serve as support and currently sat at prior neckline resistance @3.8p. We are now back in a 12-month contracting wedge accumulation zone with current support at 3.5p and resistance @4.4p ... if we break out of this structure I have a short term measured target @6.3p
Hopefully chart is visible https://ibb.co/N625Z2r
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@TommyWin GCAT have already been achieving 92% with Plant 1 and 2 BEFORE upgrades so this for me is nailed on. What the plant upgrades do is increase crushing capacity to help keep Heap Leach fed, mill & CIL capacity to increase plant 1 & 2 throughput both of which enable 24koz/annum throughput
Efficiency isn't the issue but throughput capacity is
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@Bristol_jules Anything you can share including photos et al greatly appreciated
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@Bebeto thankyou for your response
Agreed that these things would not be a "good look" but my concern is given that this is a risk what mitigating activities GCAT are taking to reduce the chance of this happening or (hopefully) avoiding it. I don't know the answer but a risk is NOT an outcome but a possibility and actions can be taken to reduce the impact if that risk materialises.
I also agree that the first breach should have been anticipated but wasn't and the action taken was to employ a new Chairman with governance as his main brief. The latest breach by failure to complete an audit in a timely fashion so that GCATs annual accounts could be signed off was 99.9% foreseeable with no CFO and thus avoidable which is 100% on GCAT.
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@Travelcard Really??? Do you understand what scenarios mean or do you just pick one to suit your negative outlook particularly as you have offered no view on why you think this so we can have some discussion about it
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