Member Info for Bebeto

Lol I've done an immense amount of research here and RM can't escape the facts, which makes him a victim of his own ramping.

People like JC refuse to publicly acknowledge the facts and in fact turn nasty / condescending to anyone saying opposing opinions.

I'm open minded how things will turn out here, the mine plan verification is key because I think they were over generous with the estimated production. They can't escape the complexities I listed earlier regarding the ore etc unless the start exploration and fine another/ more high-grade zones.

Additionally,

Goldplat Plc sold the Kilimapesa gold mine to Mayflower Capital Investments for a total consideration of $1.5 million. The sale was structured in a way that included a cash payment and the assumption of certain liabilities by the buyer. Specifically, the transaction involved an initial cash payment of $0.5 million, followed by further payments and the settlement of debts associated with the mine.

Goldplat, the previous owner of the Kilimapesa gold mine, had spent over $14 million during their tenure.

They faced the exact same challenges, as Caracal Gold Plc, in trying to make the mine viable.

The major challenge for the Company to overcome is written below and there's no escape.

"The geology of the Kilimapesa Gold Mine, located in the Migori Greenstone Belt in Kenya, presents significant technical challenges that impact its viability. Issues include low ore grades, complex mineralogy, and unpredictable ore bodies. The gold mineralization occurs along complex shear zones, and the ore is typically low-grade, which requires processing large amounts of material to extract small quantities of gold. Additionally, the mineralogy of the ore can complicate the extraction process, increasing costs and reducing efficiency​ "

Caracal, has deployed a heap leach strategy as a difference from Goldplat but so far the results are inconclusive as to viability.

It will come when it's ready and it won't be pretty, which is a strange circumstance to be in.

Whilst we wait....

You're welcome, discussing the company is what these BB's are for.

No it's still listed on the London Stock Exchange,

The FCA work's to protect shareholders interests by making companies comply by the rules.

Currently suspended pending the publishing of the audited financial statements, additional time looks to have been granted.

The FCA's handbook on listing rules are clear, we should have delisted on 1st May 2024 unless there's exceptional circumstances.

Therfore, the FCA has accepted that PKF are causing the delay to publishing the audited financials.

Any extensions will be time constrained though.

there's always another small fish who has no real input about the company and resorts to mockery because they haven't the strength to put their own point of view across (for fear of being mocked themselves).

strength comes from being outside of your comfort zone in accepting opposing views, weak people hide and s****** using various avatars. imo

The proof is in the pudding, if they manage get another non-binding terms agreement for substantial funding, (they came close with OCIM but were producing double the amount of gold) then we know it's a real possibility.

Without a non-binding terms agreement, there's no sign of real intent to go through with a deal other than word of mouth.

It's not normal behavior to write a confrontational post directed at another poster, naming them seven times and JC did that towards me.

I think they're emotionally unstable due to the pressure they have put upon themself regarding the Caracal Gold PLC situation.

Understandably struggling having over-invested and encouraged family and friends to do the same.

I've no wish to engage with them further as we navigate the situation here, I'm glad for them that they do the same.

Personally, the cherry on the top for me is when I get filtered by people like that.

PKF are meant to have taken on too much work but I know for a fact they're still taking on client companies.

Perhaps they are expanding.

The FCA's Handbook, specifically the Listing Rules (LR), outlines the requirements for maintaining a listing on the LSE. Rule 5.4.1 and Rule 5.4.2 highlight the FCA's authority to cancel a listing if a company’s securities have been suspended for six months:

LR 5.4.1: "The FCA may cancel the listing of securities if it considers that there are special circumstances which preclude normal regular dealings in them."

LR 5.4.2: "The FCA will generally cancel the listing of equity shares or certificates representing equity securities when they have been suspended from listing for six months."

Caracal Gold PLC has not been delisted yet despite being suspended for over six months, it suggests that there may be exceptional circumstances or ongoing considerations being taken into account by the LSE and FCA.

RNS 9th May 2024

The Company has responded to PKF's enquiries in connection with the Group Audit to date and have requested a timeline from them for completion.

Bearing in mind all of the above information, the timeline/publishing accounts is crucial for the company to maintain its listing.

They certainly won't have a 2 year window!!

The CEO is responsible for a company to meet its listing obligations and not the auditors this time we may have had an extension but it's no way to run a company.

Correct Daniel, they'll need an independent competent persons report, PKF would most likely have to outsource this and it will also take time to quantify.

By my estimations the mine plan has a discrepancy of 14koz in comparison to average production data.

The above can be explained through processes and procedures in efficiencies, smeltiing losses etc.

According to the UK main market listing rules, the Company should have delisted 1st May 2024 but they haven't and there's only 3 reasons why they haven't ;

The company might have received an extension or special exemption from the London Stock Exchange due to the specific circumstances involving their auditor.

The company may be in ongoing discussions with the exchange, providing regular updates and showing sufficient progress towards resolving the issues, which might have granted them a temporary reprieve.

The exchange or relevant regulatory body may be exercising discretion due to the unique nature of the delay and its cause.

Utter tripe, they managed to do an 18 months long worth of audit in November 2022 with only a weeks delay.

There will not be a company left to have an audit with a 2 year delay here.

RM clearly started the process late and PKF do have issues but the fault lays with RM.

Therefore, while it is not impossible to use a mining license as security in Kenya, the process involves significant regulatory hurdles and approval.

In Kenya, the Mining Act of 2016 governs mining licenses. According to this law, mining licenses are generally not transferable without the prior written consent of the Cabinet Secretary responsible for mining. This means that while licenses can potentially be transferred or assigned, it requires specific approval from the government.

The average timeline for completing an audit of financials for a large multinational company typically ranges from 3 to 6 months.

For a smaller company like Caracal Gold PLC, the audit timeline would generally be shorter compared to that of a large multinational corporation. Typically, the audit of a smaller company’s financials can be completed within 1 to 3 months.

They had 4 months before suspension to complete and are now in the 8th month of suspension, it's a bit of a stretch to blame PKF for nearly 12 months to complete. IMO

I find it concerning that the primary input from some posters here is to discredit those with differing opinions. Constructive dialogue is essential for us as investors to navigate the challenges facing GCAT, and dismissing others outright undermines that process.

Regarding RM, it’s crucial to remember that healthy skepticism and diverse viewpoints contribute to a more comprehensive understanding of the company’s situation. Blindly valuing the CEO without considering valid concerns raised by other shareholders doesn’t foster a balanced perspective.

If we can’t discuss and critique the company’s actions objectively, how can we trust that our collective opinion of RM is credible? It’s important to hold leadership accountable, especially in times of uncertainty. Constructive criticism isn’t about being negative; it’s about ensuring that the company is held to high standards of transparency and performance.

Let's focus on the facts and work together to advocate for more transparent communication from the company. Open, respectful discussion will ultimately benefit all shareholders.

Best regards,

Bebeto