Member Info for Bebeto

The logistics involved with the expansion must dictate the progress. Sourcing materials manpower and maintenance within a fluctuating budget. The situation must be fluid whilst the work programs are carried. One day the production will be up and next day it will be down. It's only when the phase is complete we'll receive a truer picture with the production side. I don't understand why the impossible/changeable answer questions are being asked tbh

I think there's some confusion about the results but how I see it is,
Production, after phase 1 they proved they could reach 1000 oz per month, Now they're in expansion phase 2 at the end they'll reach 2000 oz per month and in the meantime whilst they carry out their work programs the production & costs will be up and down.

Exploration, they have given the best 6 results so far as they continue to increase the strike length and depth. There's more results to come and it will increase the JORC resource as we move forward towards the end of the year they'll probably be another JORc increase inline with production increase

There is no mention of operating costs in the Q1 update.

Q4 update said Operating costs of US$960/oz were achieved in the final quarter.

Investors want to see everything, so they can make their own judgements.

They only released 6 of 27 drill results last time. Turned out to be a school boy error as the SP tanked.

If they have any drill results that proves commercial viability then they should release them otherwise the market prices in they are not.

The market has spoken and it's been a total shambles and very amateurish would be happier with no 2k production goals and just keep improving instead. TBF perhaps he just wanted to feel some of our pain.

Can't go much further down?

A few mistakes written looks like they rushed putting this one out lol

They received 27 results returned with all holes intersecting veins currently being mined with comparable gold grades, they gave out the best 6 results but we needed to see all 27 as there's still a grades question mark they could have put to bed.

Happy with the results so far looking forward to seeing more.

There's still a question mark over the grades at Kilimapesa which they brushed off when they didn't reach 1000oz. It all comes out in the results and how they will overcome the dilemma. Heap leach is going to be the answer.

I was intrigued about the assay results because I'd have thought a large batch would take about 6wks minimum for the results.

The mill process would only be doing the high grade everything else would be heap leach as the stockpile will be eaten through relatively quickly.

I think we'll be listing on NSE first then we'll be getting all the updates and they'll be several of them which will force the SP upward.

Just expecting same as Q4 results plus heap leach results. Assay results are where it's at.

Looks like it and just in time for news

Very few big holders were able to buy at this price range. Time for the little people to take advantage!

I don't see any further acquisitions or dilutions at this price range. The focus is solely on expansion of production & exploration. Perhaps later this year

@aprogerson reference 2nd February Align Research note

Enviable pipeline of acquisition opportunities to be actioned in 2022
The acquisition pipeline includes one project that is close to production coming
with a recently finalised BFS. Plus there is also a Kilimapesa look alike which is
already in production. As before, vendors seem more than happy to take paper
as they appreciate that the Caracal team is successfully & rapidly adding value.

From memory the Align Research note on GCAT actually refers to a different mine that's already working similar to Kilimapesa.

@Id78 reference 7th December RNS

Kilimapesa 671,446 oz Gold

Nyakafuru 658,751 oz Gold

Simba 320,000 oz Gold

Total Gold Resource 1,650,197 oz Gold

Nyakafuru Reefs 400,488 oz Gold

TOTAL GOLD RESOURCES (incl Nyakafuru Reefs) 2,050,676 oz Gold

The key thing is that we thought we were waiting for the lab results but it's actually been the company storing up more drills and sending a larger batch later. They're currently drilling double shifts 6.5 days per week, so the 30m per day DD and 100m per day RC as originally planned is being exceeded considerably. The JORC update will come later but expecting ongoing drill results because they are doing both infill and step out exploration holes.

9th February RNS suggests what we can expect from the exploration drilling.
The drilling programs have continued through the quarter, which are ongoing and focused on rapidly increasing the current JORC compliant resource of approx. 670,000oz to +1.5Moz at Kilimapesa.

I doubt they'd be many workers on minimum wage working at the gold mine, they'd all be skilled or semi skilled jobs

Wasn't the CLN for £5m and they dropped it for a £2m placing?