Member Info for Bebeto

Folio posted notes dating back from August 2022 Lol, same people still want to believe that baloney were slating Brewer at that time too.

Expecting around 200% dilution just to clear short term debts, could be much higher depending on how much they want to raise.

What the above means to the value of our holdings, is still anyone's guess but all the ramping in the world won't cut it. IMO

It's misleading to say we have a JORC resource of 1.3m Oz ,

Even Robbie said it was 'resources' because it's divided between 2 assets 700k in Kenya and 600k in Tanzania at the lowest form of confidence contained within the JORC code.

Keen eyed investors will notice will notice Brewer has dropped the 1,300,000 Oz reference completely from the RNS headers and instead opted for:

'the East African focused gold company'

Perhaps the future for GCAT is going to look different from the present , resources-wise?

We don't know the company's financial situation beyond December 2023, and when they do eventually release the 2024 financials, it's a given they'll be horrendous and the CEO Robbie had to depart the company on that basis.

Brewer is coming in to recapitalise and make another go of things, but we're going to have to see how that aligns with existing shareholders.

I was replying to sw10000 post regarding the ASIC estimate, the Minoplex estimate was paid for by the company and wasn't believable, in comparison to actual recorded results.

Brewer on the other hand has given a believable ASIC estimate, which is comparable with the actual.

Right now, the company is not out of suspension and what im more interested in is what the outcome will be for existing shareholders after suspension.

I tend not to watch interviews and deal with RNS releases instead because of the accountability.

If Brewer is stating $1650- $1750 range for AISC,

It's much more believable than the previous Minoplex theory of $1055

Brewer has done more in a few months than Robbie had done in years.

Shareholders will get a vote on the dilution if it's above what's already been voted for

They suspended on November 2023 and the £30million minimum MCAP rule came into effect on December 2023. (L.R 2.2.7)

To readmit after suspension would require GCAT to meet the current standards, there's no getting away from it.

How does Brewer plan on maintaining main market listing?

£25million placement? possible merger?

More realistically, they will drop down to AIM or another exchange.. perhaps AQUIS etc.

At the same time, the directors including Robbie have positioned themselves well, if they decide to sell or carve up the company, if funding doesn't come.

The penny has finally dropped on Robbie covering up the mess the company was in when playing down the suspension.

GGP is nearly 100% up this year, taking advantage of the current Gold prices, this lot no one knows even if they'll be accepted back on the market...

The natives overhere would call Robbie a wiseguy.

He played shareholders like a kipper, playing down the suspension a few days beforehand, and some even bought more.

I think shareholders probably only know 50% of what's gone on behind the scenes, they've fallen out with the local government, they fallen out with the local suppliers and population, they've fallen out with Cynergy, they've overted bailiffs removing plant machinery, the gold recovery from the heap leach was p/poor. The accounts are being signed off after months, suspect there must have been some money transferred for that to happen.

Brewer is no angel but he's given some hope, and we're all just going to have to wait and see how this unfolds.

I'm estimating the total current debt to be around £10million.

There's already £1.22million to be converted into shares.

I've laid down my thoughts and have given good reasons for them.

JC on the other hand offers no counter arguments, just looked to discredit another poster.

Therefore they've already lost the argument by doing so.

JC- that sounds very much like a you problem, I will always call out what I see and I'm not going to change for anyone.

I'll say it again because you think I'm being positive, my opinion is to wait and see.

Seems clear enough to me.

Richie great find , GMI /Brewer is the common denominator, possible merge is still an option there.

JC- what you mean is that I have my own genuine opinion, not to be influenced by anyone else.

I knew, I was right about Robbie because his Achilles heel was he didn't know/understand the listing rules, and therefore what he said/implied just didn't correlate.

Brewer, on the other hand has experience but he is not the CEO, naturally this leads to the assumption that any potential funder/partner will take up the role of CEO.

If the company is serious about relisting on the main market, then it is highly likely they'll need to raise the MCAP by around £25million.

Given the company's poor history in, raising funds, corporate governance,and transparency, it's also highly likely the FCA will scrutinize the prospectus to follow current regulations.

A potential merger could raise the MCAP to fullfil the requirements.

More realistically it would go on to the AIM, with less/ lower regulations to adhere.

I've actually not expressed an opinion other than wait and see, because I can also see that the behind the scenes movements, has made it easier to carve up the company and rebuy on the cheap, leaving existing shareholders out.

Whatever way it goes , existing shareholders are over a barrel and have no other choice but to vote yes to any resolution, if they want any sort of return.

I never suggested AIM was better, I said it was more realistic because it's highly likely they will need an MCAP of £30million or more to relist on the main market.

I haven't seen anything so far to suggest they will reach that figure , making the proposal unrealistic.

Maybe they will merge with another company to reach that, who knows.

There's a long way to go to get relisted, I think main market is unrealistic as they are going to struggle to meet the criteria, and an AIM listing would be a realistic option, but still looks miles off.

Nothing suspicious talking about this share as it's been suspended for a very long time.

Now Brewer is involved here again anything is possible, but to regain main market listing it may need a merger of sorts.

I must admit, I'm a bit conflicted in whether GMI will take a slice of Kilimapesa asset on the cheap)or a slice of GCAT.

That's why it's important to wait and see how things develop.

Ppanchol- Robbie is no longer accountable, and Brewer only has limited accountability.

Ppanchol- Robbie is no longer accountable, and Brewer only has limited accountability.