Member Info for Bebeto

My thoughts on Tanzania is that they haven't brought in the former high commissioner of Tanzania to drill a few holes and increase the resource over there. He's been brought in for his governmental contacts , so I'm expecting us to have a compelling drill campaign which will increase the prospect of government funding towards a processing plant and them maybe taking royalties as repayment.

There's no mention of it anywhere but I think Tanzania will form asome part of a joint venture . Before then they'll be a lot of drilling there to get the resource up considerably

If you listened carefully to the latest interview and you'll hear we should get the Reefs tenement by the end of May. That alone will push our JORC resource to 2m oz. They are also drilling in the Kilimapesa area for the next 2yrs as well as looking to drill in Tanzania.

By the end of the year we'll have quadrupled production and have a 3m oz resource

The strike price maybe 2.5p but it's not viable for the warrant holder to convert their warrants at that price, SP would have to be higher!

Following further metallurgical testwork in Germany, which is ongoing, the Company will commence construction of a new heap leach plant operation. Approx 40,000t of stockpiled low-grade material with be the initial feed to this operation.

Initial assay results from the drilling programs are expected to be announced in the current quarter and the Company is proposing to release an updated Reserve and Resource statement later in 2022.

from 9th February RNS. Whatever lab they are using assay results first then upgrade resource later in the year

Someone said earlier that it's the Mwanza lab but the 9th February RNS suggests they could actually be using a laboratory in Germany.

Nice RNS flushed a few traders out cheap too!

@aprogerson we can all see the value increasing and the progression going forward. Markets don't like delays / targets missed and looks like it treated us accordingly. This is an area the Company needs to improve on which I think they will.

Looking at the Company currently I have a feeling that after the development program and exploration program delivers, there's going to be some sort of future Joint Venture coming our way.

@aprogerson yes I am conflating the two because I'm offsetting even more value locked in which is unaccounted for in mathematical sums .

The Company has secured the interests in the Nyakafuru and Simba Projects at an overall cost of US$5.95/resource ounce, well below typical gold exploration company valuations of between US$25 and US$50/resource ounce

When we get the Reefs licence it will push our Resource to 2m oz combined with our current exploration program could see us edging 2.5m oz

@aprogerson if it was worth 1p producing 500 oz per month and had asset of 671,000 Oz then it doesn't seem that fanciful 2p producing 1000 oz per month and has group assets of 1.6m oz

With the progress already made we should be already in the 2p zone before news.

I'd say the non-tradeable shares is the differential

Yes they do need need a TVR. They've been sloppy with the paperwork, I can't see a RNS for to he auditor resignation and the change in accounting period either.

If you're going to get technical then it's best to check the London Stock Exchange website. The place where it's actually listed.

£15.75m

Instrument market cap (£m) - The market value of the company's outstanding shares

You only really need to compare GCAT at the IPO and current GCAT :

Then
SP 1p, 671k oz asset , 500oz per month production

Now
SP 0.975p 1.67m oz asset 1000oz per month production.

Everyone can see the disconnect in value and the progress being made.

@aprogerson you hit the nail on the head with 2k per month by Dec-22.

The trouble is that we're in April-22 so it's going to be a long 8mnths emphasising Lol

I think there's too much emphasis on the 2k per month production. Will be happy to see Quarterly results showing the progress being made and increase in asset size.

@PortfolioPower , you are correct it's in the second lift which is in irrigation.

This heap leach process hasn't been explained properly for investors. I can't work out which 5,000 t is actually on the pad currently Lol

53.4% recovery achieved within 14 days (60 day cycle is expected);

60 day cycle hasn't finished yet , so they haven't used more after 60 days it's expected to be close to 65% recovery