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LW,
Yesterday's RNS should have contained some current production information as per the previous update.
The bottom line is year on year the financial situation is getting worse, the company needs significant funding and in the meantime significantly increase production from the 100 to 200 ounces per month.
Without either of the above, the audit will be meaningless in time.
As for the little fish, they've most likely over invested here and encouraged friends & family to join them, seen it all before whenever you know someone who has access to the boardroom on a small cap company, people let their guard down, join a telegram group and believe everything they're told without question.
Last thing they want to hear is the king isn't wearing any clothes.
They are currently paying a loan back using 50% of FCF and also repayments of a mortgage has now started.
RM has been trying to source significant funding for the last two years, I doubt this will return without funding secured.
Swampmonster,
I'm here to gain a knowledgeable reasoned debate on a share I am invested in.
I don't care if you're for or against RM or anyone else.
I keep putting out the bait and most of the time little fish reply but every now and then a large knowledgeable fish comes along, which makes the whole thing worthwhile :)
Other posters are just collateral and if they don't like it then feel free to use the filter option, even though they might learn something.
LW,
13th July 2023 RNS, company raised £351k
'The proceeds of the Subscription shall be used to fund the transactional costs for the Kilimapesa expansion funding currently being finalised.'
We're still waiting for this funding and that money would have gone towards the audit and there wouldn't have been any suspension.
Wonder where the money went?
Wonder how many people really believe if this relisted tomorrow without funding it wouldn't be a massive bloodbath.
PKF are saving everyone at this moment in time.
RM has conveniently DROPPED the part from today's RNS 'come back fully funded for the expansion'.
Careful what you wish for...
Fundraisers RNS from 29th September 2023, has this paragraph
The issue of the new Ordinary Shares to trading is conditional upon approval of a prospectus by the Financial Conduct Authority ("FCA"). Caracal continues to progress the prospectus through the FCA.
LW
They've forward sold the prospectus shares and nothing material for the company left in it.
£780k working capital was the last of it, going by all the fundraisers the company was overspending on average $388k per month, so end of June roughly before another fundraiser likely to be needed.
'As part of the Group Audit an independent review of the Kilimapesa 3 year mine plan was required to be undertaken. This report was submitted to PKF on 3 May 2024.'
This is all part of the audit process as per the previous audit by PKF Littlejohn LLP the Senior Statutory Auditor is doing a thorough review to ensure the integrity of the audit.
RNS updates are the way to go, as I previously mentioned the Kenyan auditor is just one component and people complaining about the over kill of the investigation don't understand what is required of the company.
End of June as I've always maintained the process needs to be wrapped up by.
Lol big underwater holders have to blame someone as they can't blame themselves for being in this position.
I'm delighted to be filtered as it gives me a free reign :)
I'll stick to RNS updates for information as grades aren't shown on photos.
Everyone is entitled to an opinion here not just the bully boy tacticians.
It's all a bit of a distraction from the real news about the company though.
Lol it's very nice for others to take ownership of my posts but I'm pretty sure that I'm meant to be filtered and therefore my posts aren't meant for their judgemental comments.
I'm a shareholder here and I'm entitled to have a opinion the bully boy tactics deployed doesn't work with me as I've been in this game long enough to know that certain people are saying one thing and totally bricking it behind the scenes.
I took my loss early on and hold a sensible position and those who think I'm just here to cause trouble are actually odds on for a very expensive lesson in the world of small caps.
Happy to remain filtered as the trash always takes themselves out.
Strange people lie when they say they have filtered and haven't, curiosity killed the cat.
People not liking facts presented to them, if you're in any doubt that the HGZ bumped up the production figures to give an inflated view of production, again I refer to the
RNS 21st March (near end of Q1) 2023
A mining plan confirming 90 days of high-grade material has been prepared and is being actioned.
May I suggest anyone who has a significant amount of money invested in this company, to review thoroughly every RNS that has been issued and then cross reference.
At some point in the future you may need to know things that might help you.
And there's me thinking I was filtered by you lol
Here we go :
RNS 21st March 2023
360tpd of high-grade material with average grades from 3.31g/t to 4.74g/t being processed,
6 zones have been mapped, sampled and a bulk samples processed - these zones are numbered 1A, 1B, 2A, 2B and 3A, 3B.
the resulting information put into a mining plan which supports throughput of high-grade ore through the milling plant for the rest of March and for the 2nd quarter of 2023 (April, May and June).
So the HGZ grades are between 3.31g/t and 4.74g/t and the mining plan is only for April to June.
RNS 7th March 2024
Open cast mining continued in pit 3B with a total of 11,400 tonnes mined at an average grade of 1.82 g/t
3B from the HGZ in the first RNS is now at average grade on 2nd RNS and the 5 other zones there's no mention.