Member Info for aprogerson

DG thankyou ... some reasoned commentary on this BB at last!

I'm not sure I agree with the Bots comments as I seem to remember there was a legal listing requirement to diversify in the early days of deal making so that if ARCs Zambian licences were spun out (in whatever shape or form) the ARC itself would still be an operating entity. Listening into the last podcast I do believe that the Bots licences proximal to 2 mines/development areas was very opportune since proven by neighbours drilling campaigns up to the licence borders and our very positive .

IMHO this seems to me that Bots is at least an "optionality" play where we eventually sell or preferably form an earn-in style JV with a neighbour in much the same way we have done with AA.

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@GTMufo looks like you didn't check which of your accounts you were sending your last comment from

... sending "Yes ufo they found 100 kg Silver nugget." in perfect English from your GTMufo account looks very odd don't you think?

@GTMufo If you take the effort to read my posts I have NOT said that everything is okay so please quit putting words in my mouth!.

What I have done is IMHO answer part of your question about what monies maybe needed and some basic project management knowledge about how I might do it if it was me putting these things together myself ... nothing more as I was not involved!

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@GTMufo Simply ...

> Mina is where the processing JV plant is and is in a valley so will be operational most of the year

> Prospects are in mountainous terrain and/or at altitude so "closed season" is typically end October to mid March as temperatures drop and/or weather is bad

Please stop confusing the 2 the support your negative narrative as GWMO have been very open about this throughout their RNSs so it should be no surprise to anyone! A large part of the reason for the 14km road project was to open up areas for both drill rigs and for extraction of historic tailings to overcome most of these limitations.

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@GTMufo If you had bothered to read the rest of my post you will have seen the likely answer to your question around costs and funding, so please do me a favour and don't lift part of my post out of context to somehow justify your narrative ....

@GTMufo I don't doubt that there will be costs in commissioning the plant, moving the tailings and ramping up production ... the REAL question you have not asked is "what has been allowed for in the JV budget, what has been spent to date, what contingency was allowed for and what budget remains versus work to be done".

My expectation is that the JV budget includes commissioning plus some contingency to fix early failures/issues and unexpected items as it is reasonable to expect some unplanned for costs. Anything after that would be extra as it would be cost of JV production or OPEX will include labour, generator fuel and so forth. The cost of digging out and moving the tailings will be GWMOs and not part the JV.

Any further expansion of the JV plant to stage 2 will require additional CAPEX funding from both JV partners which I would expect to be funded from JV profits or more likely standard business debt funding based on a business plan once the JV plant is up and running profitably.

Not everything will require equity funding via dilution which is why a profitable JV processing plant is vital to a small explorer transitioning to a small producer.

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@The Basher I was clarifying that the quote you referenced related to the copper project rather than anything else AND that this was old news rather than something new and/or a change that might warrant a SP drop

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@TheBasher The statement “We are actively seeking a joint venture partner to help finance this programme and currently working on several positive leads." was from yesterdays RNS talking about the Cooperation Agreement AND the pre-existing copper exploration programme at M2 and the Huntoon Valley in general.

My point is this is OLD news as the copper exploration programme and especially further development of the copper JORC has been predicated on getting a JV partner signed up due to the prohibitive costs for a Junior Explorer such as GWMO. This does not mean that they won't do a placing for the copper but given this stated strategy and BHs recent podcast talking about avoiding further dilution this seems an unlikely outcome unless something else materially changes.

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@Anon IMHO this will allow Dugbe to progress to the next stage over the next 18-24m whilst HUM focuses on getting Kourossa up to full nameplate throughput, maximise free cashflow and pay down the bulk of the mine build debt. This way Dugbe will be ready for its next stage which is mine build just when HUMs capacity to finance it via a new debt facility will come back online

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Morning Kewben Yes looks very good news indeed as it forms the basis for a future 50/50 JV over the shared licence areas.

Basis of Cooperation Agreement:

Crowne puts in 6 patented claims with drilling permit and GWMO puts in 9 new unpatented claims with no drilling permit granted ... seems reasonable as looks like Crowne has the distinct advantage of drilling permit rights.

RNS Highlights - Crowne Point & GWMO Co-op Agreement

· Early drilling on private land will attempt to prove up a copper porphyry

· Access to existing infrastructure

· Potential for both copper and precious metals

· Great Western to focus on copper potential, Crowne Point on precious metals

· Each party will plan its own exploration activity and bear its own exploration cost unless a decision is made to explore on a joint basis

Looking in more detail at the as there are some playoffs involved:

1) Crowne retain 70% share of any gold/silver in central 6 claims area

2) GWMO get beneficial access to drilling copper targets from permitted 6 claims area saving costs and time

3) Any value extracted from pre-existing mining waste present on Crowne's existing claims will belong to Crowne

Not sure why the SP has dropped as this looks to me like unparalleled good news with GWMO trading 50% of only recently staked claims and getting copper drill target access in return !! IF drilled and proven up at existing M2 target this will allow GWMO to relatively quickly scale up its existing copper JORC by increasingly confidence in copper target between 2 proven mineralised areas ... a potential gamechanger if the existing JORC can be scaled up to an "economic" sized copper resource

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@select/Seis "hysterical tag team of derampers" sums up todays various offerings

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@NorEsco You should be ashamed ... Seis is one of the few balanced posters on this BB who posts original well researched information which is much more than I can say for yourself!

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Thanks could you post a link?

@GTMufo I don't doubt that there will be costs in commissioning the plant, moving the tailings and ramping up production ... the REAL question you have not asked is "what has been allowed for in the JV budget, what has been spent to date, what contingency was allowed for and what budget remains versus work to be done".

My expectation is that the JV budget includes commissioning plus some contingency to fix early failures/issues and unexpected items as it is reasonable to expect some unplanned for costs. Anything after that would be extra as it would be cost of JV production or OPEX will include labour, generator fuel and so forth. The cost of digging out and moving the tailings will be GWMOs and not part the JV.

Any further expansion of the JV plant to stage 2 will require additional CAPEX funding from both JV partners which I would expect to be funded from JV profits or more likely standard business debt funding based on a business plan once the JV plant is up and running profitably.

Not everything will require equity funding via dilution which is why a profitable JV processing plant is vital to a small explorer transitioning to a small producer.

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@GTMufo Quit with the rusty equipment line is is getting VERY VERY tired.

Unless you have not noticed this equipment is DESIGNED to be outdoors so some rusting is NORMAL and very unlikely to adversely affect its operation.

Muletown has run ore processing before as it is their site and their equipment do you really think that they would donate equipment which they know better than anyone to a 50/50 joint venture if it does not work??

Your constant mewling on (1) its rusty (2) they don't know what they are doing (3) they have no money (4) you know better than anyone else, is beyond tiring and repetitive no matter what anyone says you just keep repeating the same old drivel, provide no evidence or original thought.

No wonder other posters are rude to you!

WOW ... those are some big trades

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Bottom line is we have had a 70% SP rise within last 2 weeks from 0.0362p intraweek low despite any background selling pressure. We have now had a slight pullback from historic downtrend line following 6 months of basing consolidation between 0.037 and 0.05 based on weekly closes.

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Nice to see steady rise in SP on increased volumes rather than lowering SP on low volumes as we have been seeing for an extended period. If someone is selling down their stock than I'd rather they be doing it now than after licence news drops.

IMHO it seems that investors are starting to buy back in as we are much closer to a positive licence decision that would be very positive for the SP especially given the very low MCap. Bottom line we are much more likely to have a strongly growing SP than we are to get further modest SP drops

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@JerseyCrew Your posts are appreciated, unfortunately as GCAT are in suspension with little substantive news bar a few tweets with pictures of mining equipment it is difficult to draw any meaningful conclusions

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@GTMufo Typical answer from you when anyone calls out your poor or misleading posts, rather than acknowledge this you just move on with another meaningless post, wild assertion or half-truth.

When anyone tries to have anything resembling a discussion you just shut it down ... appalling!

@HH All the new/existing main copper mines in Zambia seem to be of the 0.4% to 0.48% but these are open pit at a HUGE scale so come with massive CAPEX.

The point I was trying to make was GWMO copper deposit is fairly typical for the area and "relatively" high by comparison. The current JORC implies 19,260t contained copper which is currently trading at $8,300/t. If you look at presentation page 7 you can see my point about a central undrilled area allowing resources (shown in RED) to be joined up and JORC considerably scaled up which may make it economic

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