Member Info for aprogerson

@Suggins I always say Hope is not a Plan and yet here we are hoping for some good news. On the assumption that funding discussions are indeed underway it is very very unlikely that any CEO would be willing to talk about them in detail as by there very nature (doubtless under cover of an NDA) RM would not be able to comment; worse still if he did he would risk any funder then turning the screws tighter.

RM previously stated that funding takes 6+ months to resolve so having had 9 months now pass is disappointing but hardly surprising given this had to have been restarted from scratch after OCIM exit. Until funding news arrives we are left commenting on minor "news" & X updates whilst the "Caracal team" keep the lights on.

ATB APR

Always nice to get some positive updates ...

ATB APR

Pacific Nickel update: Mining of Nickel Ore Commenced

Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by its investee company Pacific Nickel Mines Limited ("Pacific Nickel"), which is listed on ASX (ASX: PNM) that mining of saprolite nickel ore has commenced from its Kolosori Nickel Project on Isabel Island, Solomon Islands. The Kolosori Nickel Project is a direct shipping ore (DSO) nickel laterite project. Mining of saprolite nickel ore commenced on 1 October 2023 and the ore was delivered to one of the stockpile pads developed by the Company near to the wharf in preparation for the first shipment of ore which is anticipated in November 2023.

@TakeNo Risk I think we all understand that once exploration starts that (1) payments will progress from AA to ARC and (2) assets will start to be proven up which should then reflect in SP

ATB APR

@TravelCard LOL

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@Small_Holding Yes IMHO looks like one of our old "friends" is back playing games to try to queer ARCs pitch in hope of another pay out perhaps?

You couldn't make this up if you tried!

ATB APR

Anyone else smell something Fishy?

@ID78 Could you post the link please?

ATB APR

Lets not forget that at 50% gravity recovery this is Stage 1 plant so 31kt processed ore still contains circa 820Eqoz metal that can be fed back through Stage 2 plant when complete with expected 80% combined recovery implying a further 490oz recoverable metal or circa £780k revenue using prior calculation approach

@GoldGirl, I hope that helps?

ATB APR

RNS Summary states:

Financial Highlights:

· Loss for Period €527,985 (30 June 2022: loss of €448,652 and December 2022: loss of €792,263)

· Basic and diluted loss per share 0.0001 cent (30 June 2022: 0.0001 cent and 31 December 2022: €0.0002 cent)

· Net assets at 30 June 2023: €8,845,494 (30 June 2022: €9,191,466 and 31 December 2022: €8,618,024)

· Cash balances at 30 June 2023: €410,661 (30 June 2022: €1,158,053 and 31 December 2022: €145,197)

· Placing of new shares during Period raised €913,242 before expenses

Operational Highlights:

· Special Use Permit granted to Western Milling joint venture by Mineral County Commissioners

· Diamond core hole at OMCO Mine confirms extension to the OMCO vein

· Status of copper prospects upgraded by intensive field work and mapping

Post Period End:

· Western Milling Joint Venture: concrete laid and production due to start this year

· Placing of new shares raised €581,139 before expenses

· Signing of Western Milling Operating Agreement and Declaration of Earn-In

· Rhyolite Dome (Olympic Gold project) identified as potential gold-silver play

My Summary:

>GWMO now has circa Euro935k or £810k (assumes 10% finance cost E58k) (Cash E410k +E581k-E58K costs)

> Cash burn was E528k to Jun-23 or £460k including remaining JV costs, management and exploration

> Months available cash = circa 21 months from 1-Jul-23

> JV costs likely accounted for in Dec-23 period cash burn "December 2022: loss of €792,263" as E300k above normal burn rate

> Tailing access road has been built and available to dig out JORC "ore" for JV processing

>JV plant mill build well underway and RNS states "We are expecting to commence production of gold and silver concentrates during the second half, using the significant volumes of material on our claims and, in due course, material from third parties."

>OMCO tailings MRE "Inferred Resource 31,000 t at 1.6 g/t Au and 3.0 g/t Ag" or circa 1,600oz gold equivalent contained metal implying 820oz recoverable metal via gravity separation at stated 50% recovery rate. At $1,900 gold this implies $1.5m revenue or £1.3m revenue before JV processing costs

Looking good BH just need to ...

>Complete JV plant install & commissioning

>Secure licence to operate JV mill & plant

>Dig out some "ore" ready for JV processing

>Feedback on 2023 exploration programme drilling at OMCO and M2 copper prospect

ATB APR

@Folio That is my expectation ... just have to wait and see

ATB APR

For those that appreciate some mumbo-jumbo ...

Quick update on last weeks weekly chart https://ibb.co/r7sfKh9 where I argued that we have a strong inverse Head & Shoulders pattern developing and likely to close over the next few weeks as long as we don't get a broader market crash:

1) Assuming bounce at around 10.5p then ascending support line remains intact & target neckline with inverse H&S pattern closing at around 18.6p

2) Assuming inverse H&S is not invalidated then implied measured target is around 32.4p

Regardless of inverse H&S we are currently in a strong squeezing bull pennant that is more likely to resolve to the upside than not also supported by a rising support line with 3 confirmed touches so far. I am also expecting some resistance around 14-16p as we break back above a long term support line.

ATB APR

@mryummy If I knew the answer I'd be rich and sat on my yacht and not my keyboard on this BB ! You need to judge that for yourself and look at the balance of risks and facts given from recent RNSs:

> Cash - £1.3m capital raises this year

> JV Costs = £600k JV budget with JV budget re-confirmed

> JV progress & Next steps ... see my summary

> BoD - do you believe BH or not?

> Revenue source - will JV generate enough revenue over what tiome period

> MRE - do you believe the figures and is the gold & silver recoverable?

> Exploration - what is next and what are chances of success?

> Copper JV - will recently announced copper exploration increase resources sufficiently to interest a 3rd party for a JV?

> JV licencing & commissioning - my "sense" is circa 6 months but could easily be wrong

Absolute value of POG helps a great deal but really only when you are a producer ... GWMO is a near-term producer which for its MCap is very very unusual in a good way!

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@GTMufo Yes you will always be correct if you avoid specific dates, facts or RNSs and use generic criticisms with vague and non-specific doom-mongering ... anyone can do that, but to then repeatedly point out how right you were as a stick to beat everyone else with to justify your comments is very lazy IMHO!

ATB APR

So in summary combining 22-Aug-23 and 12-Sept-23 RNSs plus IMHO casting ahead to some NEXT STEPS we have ...

Completed work:

· Process equipment assembled adjacent to site and ready to install = confirmed DONE RNS 22-Aug-23

· Foundations laid and concreted with retaining walls erected = confirmed DONE RNS 22-Aug-23

· Water bore holes and water monitoring wells concreted and complete = confirmed DONE RNS 22-Aug-23

· Access roads and laydown area complete = confirmed DONE RNS 22-Aug-23

· Final concrete pour to meet environmental standards = confirmed DONE RNS 12-Sept-23

Outstanding Items - within JV control:

· Assembly and testing of plant = RNS 12-Sept-23 "mill site is now ready for the installation of pre-prepared equipment"

· Stockpiling of GWMO Tailings materials onsite = NEXT STEPS ... not yet reported

· Completion of plant build & commissioning = NEXT STEPS ... not yet reported

Outstanding items - outside JV control

· NDEP site visit for provisional inspection (from RNS 22-Aug-23) = await update

· NDEP approval likely to be delayed by at least two months (from RNS 22-Aug-23) = await update

· Start of commercial plant production = NEXT STEPS ... not yet reported but dependent on licence to operate from NDEP

JV Costs: RNS 22-Aug-23 also stated "Project costs within budget" which was £600k

Summary RNS 6-Jun-23

> Phase 1 JV Gravity Separation is anticipating a 50% recovery whilst Phase 2 chemical leaching expecting 90% recovery for an aggregate recovery of 80% via both stages when complete ie Phase2 recovers a further 30% of original materials metal content

> "Plant throughput: "upto 5 tonnes/hour of feedstock but there is likely to be an initial period of lower volumes before the plant is running consistently"

> "JV's aim will be to operate the mill for 70 or more hours per week for plus or minus 48 weeks per year to allow for maintenance and possible weather downtime. "

> "Plant capacity can subsequently be increased in excess of 5 tonnes per hour when needed with only minor investment and without a commensurate increase in operating expense. "

So initial nameplate gravity separation throughput = 5t/hour * 70 hours/week *48 weeks = 27.4 kt/year. We know OMCO surface tailing alone is 31kt with Inferred MRE OMCO tailings = 1,600oz gold & 3,000oz Silver metal.

Assuming just OMCO tailing processed via gravity at 50% recovery implies 800oz gold & 1,500oz silver recovery at 90% value to base metal as GWMO will be providing a concentrate not refined metal.

Throughput @27.4kt/year = 2,280kt/month

Gold recovery via gravity separation = 50% *2,280kt/31,000kt *1,600oz = 59oz/month

Silver recovery via gravity separation = 50% *2,280kt/31,000kt *3.000oz = 110oz/month or ~1.5 AU Eqoz

Revenue = 90% *60.5oz *$1,900 = $103.5k or $86k/month

ATB APR

MILL SITE PROGRESS

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing gold, silver and copper targets in Nevada announces that a final concrete pour on the Western Milling LLC joint venture's mill site at Sodaville in Mineral County was completed over the past weekend after a number of weather and supply-related delays. The mill site is now ready for the installation of pre-prepared equipment. Timing of production start-up for gold and silver concentrates, initially via gravity separation, will depend on receipt of consent from the state environmental authority. Further updates will be provided when appropriate.

We always enjoy good news ... now about that licence?

ATB APR

@GTMufo It called organisation & planning ... you send your trucks and diggers in when the weather is good and ensure that you have enough material stockpiled and/or additional contracts for 3rd party materials to keep your plant busy over winter = simples

ATB APR

@GTMufo LOL you're the only emotional one here ... if you read the RNSs you will know that the JV processing plant is in the more sheltered valley not in the mountains where the licences and poor weather is October through March every year.

ATB APR

The meat of the RNS ...

1. To authorise the Directors of Caracal to allot securities up to an aggregate nominal amount of £1,068,376.08.

2. To empower the Directors of Caracal to disapply statutory pre-emption rights to allot equity securities for cash on a non-pre-emptive basis.

"The passing of the resolutions will allow Caracal to raise further funds to support its operations and, if necessary, issue shares in lieu of cash payments to creditors to preserve the Company's cash position."

The reality is an additional £1,068,376.08 @£0.0025p = 427,350,432 new shares versus TVR = 1,879m listed or approx. 22.7%. This makes perfect sense to potentially shore up the balance sheet and maintain GCAT as a going concern albeit at the "cost" of further dilution with the removal of pre-emption rights enabling GCAT to move at speed and avoid any costs associated costs/delays in offering shares to existing holders.

Ideally the non-dilatative royalty capital funding would have been agreed by now, but having this option on the table allows them much more latitude in negotiations' and helps avoid them having to agree a bad deal because they have no choice but to agree a deal.

Less than happy but ...

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@Fulmar Thanks that made me laugh

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@TOTC It's not everyday anyone accuses me of being misleading as that implies intent to do so which is absolutely not my intention as I try my best to be as balanced as possible stating any assumptions that I use across all the shares I follow.

I don't ask anyone to agree with me, but I do try to be as open as possible and go out of my way to be clear what is my opinion using "IMHO" or "Commentary". I am very careful when I am stating something to reference it to something tangible such as an RNS or an interview ... I wish others would do more rather than blatant "To The Moon" or "its all lies" or even worse asserting something is true with absolutely no reasoning to back up that view making any debate purely emotional rather than based on anything real.

Any non-producing microcap explorer such as GWMO carries the certainty of dilution in one way or another which is why I am very keen to see GWMO become a microcap producer and generate a revenue stream to both underpin the balance sheet and reduce the scope/scale for further future dilution.

ATB APR