Member Info for aprogerson

LOL Fulmar, you sure you're really not our resident troll?
ATB APR :-))

@Mog I could be wrong but the RNS maybe misleading in that AAL effectively still need to complete their part of the bargain to "Earn" their 70% for $88.5m investment over 7.5 years or less if they wish to accelerate.

The RNS says "Anglo American will have the right to retain a 70% ownership in the Joint Venture for an aggregate investment by Anglo American of up to USD 88,500,000, including cash consideration of up to USD 14,500,000" but the key word here is RETAIN so not 100% sure how this mechanism will work but it clearly needs to be Earnt to be Retained.
ATB APR

I think we can all agree these are good grades with modest intersections and very shallow depths next to an existing operating mine which is perfect to enable GCAT to BOTH expand its resources via expansion drilling and convert Inferred to Indicated to Reserves.

BoD are now delivering what they set out to do with more assay results to follow and what looks like a excellent start to expansion/infill drill programme which will increase Kilimapesa LOM as more higher confidence resources are confirmed and overall resources grow.

What is not to like as the market will want to see LOM grow to underpin rapidly increasing gold throughput and production which in turn will feed through to MCap ... It's coming!
ATB APR

LOL Phase 3 exploration expenditure is of course $30m not $20m ... apologies I can't stop shaking!
ATB APR

@Schlemiel It's actually more like Orosur (OMI) structured multi-year JV earn-in deal with partners Newmont/Agnico that I have long been advocating for as it includes multi-year cash payments that allow the Explorer to cover Admin costs whilst the exploration by the Major plays out avoiding the Explorer being disadvantaged because it has no choice but to trade more %assets for cash as no one else will want to buy-in as the Major has first-mover advantage.

For me the large up-front cash payment says it all and is a fantastic vote of confidence in ARC and the assets whilst allowing NvS to deliver namely 'maximum shareholder value' which was always going to be development of the Zambian licences into a mine versus an outright sale on the cheap given he was willing to walk-away from AAL first time around.

Summary Deal structure
> Signing Deal = $3.5m or £2.87m cash to ARC
> Phase 1 = 51% to AAL for S11m exploration expenditure in first 3.5 years
> Phase 2 = 60% to AAL for S20m exploration expenditure in first 5.5 years (or additional 2 years after Phase 1)
> Phase 2 = 70% to AAL for S20m exploration expenditure in first 7.5 years (or additional 2 years after phase 2)

So cash to ARC of $14,5m in first 2.5 years and total Exploration by AAL of $85m over 3 phases for total AAL investment of $88,5m giving them an Earn-In to 70%. Crucially there is a maximum time period to this for AAL but no minimum time or investment so AAL can accelerate this schedule if they see fit to do so.

So ARC get $14.5m or £11.9m cash over first 2.5 years with £2.87m on signature of deal = very nice!
ATB APR

Awesome deal NvS & absolutely fantastic news for ARC and its shareholders ...
I can now stop sitting on my hands after 5+ years of patience and my PF can breath a welcome sigh of relief !
ATB and well done all
APR

@LegalWolf Last I heard was GS target of $2,300 in H2 2022 ... have they revised it up again ?

If we have a currency reset with full or partially backed by gold and/or commodities as China +India +Russia are suggesting then all bets are off as demand for gold will skyrocket ! Current implicit floor for POG is circa $1,920 given Rouble/Gold price backing and arbitrage for Russian Oil
ATB APR

We need to remember that POG has been absolutely slammed in past few weeks and has retested $1,832 support which is confluence of 3 support lines on my weekly chart and has (so far) been rejected so support is still intact which is good news. The bad news is that POG is still only $1,849, but considering that GCAT is actually holding up rather well
ATB APR

@Itsyou HL 'overperformance' brings intriguing possibility of effectively upping the throughput for the planned 4 pads if it can be processed quicker. What we do not know yet is if 15/30/60 day processing and recovery figures are repeatable and if they accelerate can they produce enough feed material to keep it running given the higher throughput?

I have made prior comment on HL pad and throughput figures some weeks ago and will dust it off again and repost if relevant to this discussion
ATB APR

I like GWMO as it is very low MCap sat on underexplored historic gold/silver mines with very high historic grades especially of silver. GWMO are doing all the right things but just not as fast as I would like and have not been as lucky as I would have hoped ... but they are a Junior microcap Explorer so not totally unexpected
ATB APR

@Pasa Reality is that POG has already taken a major tumble and most TA analysts have been saying that if POG did not hold above 2k that a return to long term support at $1,832 was very likely which is about where we are now. Clearly if POG cannot hold around here then all bets are off but with CBs repatriating their gold and scrambling to buy more whilst retail investors buy up all available gold and silver suggests to me that all is not well in the world and no one still 'buys' the Fed transitory message or even still believes that official CPI figures are real.

My "analysis" suggest that all those sat waiting in gold & silver equities for years despairing when they look at their trashed SPs may get a pleasant surprise sooner than many of us think. Unfortunately as it is gold & Silver any such surprise tends to come with unpleasant 'real world' downsides ... usually very big ones!
ATB APR

Looks like they want to combine some assays with Q1 2022 ops report as report looks overdue now
ATB APR

GUN just announced partial disposal of shares in Charger Metals to recoup initial investment of £93k so remaining shares are now effectively a free ride !
So 175k shares sold at A$0.93 each for £93k cash and "Following this disposal, Gunsynd continues to hold 2.825 million shares in Charger representing approximately 5.6%."

So remaining Charger Metals shares valued at A$2.63m or £1.47m versus GUN MCap of £3.15m of which at least £1m is held as cash ... this is now getting very silly low valuation!
ATB APR

LOL I posted this morning the updated TVR of 1,824,978,590 shares from the AGM Notice, section 2 on GCAT website from 18-Feb-22 and then reported my post so that I could "tell" London South East to correct the figure they have used (Dec-21 ) so that the MCap calculation algo they use shows the correct figure.

Result ? My post was deleted and the TVR is unchanged and still incorrect ... come on LSE, try harder !
ATB APR

LOL yes that would be nice ... live in hope
ATB APR

@Optimist I hope Ryan is correct as that would make a mockery of GUN's current £3.15m MCap given it has 24% of Rogue Baron plus a £111k CLN which could theoretically be converted into equity anytime GUN choses to do so?

Rogue Baron MCap is currently £3.6m valuing GUNs stake at £900k or if RB reached $50m/£40.5M that would be nearer £9.8m NAV to GUN.
ATB APR

Fair enough Legalwolf my point was that alternative funding sources are available to GCAT as a growing producer and yet you kept coming back to equity raises as the supposedly only route forward when it is but one option or possibly part of a blended approach to funding.
ATB APR

Opps sorry wrong BB ...

@Band-It If you check back to Dec-21 Acquisition RNS and associated deck GCAT was targeting 50Koz production from Nyakafuru. CEO stated that draft plan was going to be crossing his desk for review end of last week now and he was expecting to update the market by end May-22 with costed plan.
ATB APR

@Legalwolf With respect many posters on here understand explorers and the need to raise money to fund Junior without revenue. GCAT is a small producer and already funded via £2m capital raise to £2m as per Feb-22 RNS and recent CEO video interview so unless you know something that we don't please stop repeating the same mantra or someone may suspect you of having another agenda?

That said we we know that funds will be needed in due course for:
(1) Expansion of Kili to 50koz/annum production
(2) building mine at Nyakafuru/Simba in Tanzania
However many posters have stated (including myself) that there are 3 possible sources of funding and only 1 is dilutative:
(A) capital raise by selling equity stake
(B) use of free-cashflow from Kilmapesa production
(C) Debt funding
I suspect I'll need to dust this post off again in a couple of weeks ...
DYOR ATB APR