Member Info for Bebeto

There's no clarity on whether they have received any of the funds. If it was a binding contract there would be no question.

I guess that's the reason that some people have sold.

RNS tomorrow it's going to be interesting FCA rules state minimum of 21 days notice of AGM by RNS or it had to be printed in at least two newspapers.

CFO not CEO spell check changed it LOL

Quite possibly future buy back. The CEO came from a company with 5 years of massive CAPEX before transforming the company to the biggest producer in West Africa , perhaps something similar will happen here in East Africa.

I haven't seen the proposals but if they are the same as last year , where they maxed out the dilution, I don't believe they'll make the same mistake twice but there will be a degree of dilution.

I thought this information is interesting regarding RM's share holding::

Medini Rwanda Pty Limited received 98.5 million consideration shares at £0.01 per share and Mansa Capital Limited received 5 million ordinary shares at £0.01 per share in lieu of cash as part of an introducers fee in relation to the reverse acquisition of KPG. Robbie McCrae is a director and has overall control of both companies.

He must have sold the 5m shares and bought back 4.5m on open market to make 104m holding.

Everyone knows introducers fees are just a caveat for free shares.

Trek HNY,

Yes agree companies uses them as a back stop and they're pretty standard.

The problem Caracal had is that they maxed out the amount of shares they could issue. To the extent that they couldn't fullfil £2m worth shares to Orca and they also knew they were going to owe Mayflower 50m shares which they knew they couldn't issue.

They were expecting a much higher SP but with so many
extra shares being flipped it backfired on this expectation.

The company had to take TWO discreet loans and then found themselves needing to apply for non dilutive funding before they had the production capability to meet their intended CAPEX , we know this because OCIM only provided a conditional offer which they can afford but had to apply for another offer to make up the difference for the CAPEX.

I'm not expecting the company to be profitable for the majority of 2023 because running two exploration campaigns is going to take a big slice in operating costs.

The key going forward is for the company to maintain minimal dilution but any further asset purchases will involve a degree of dilution.

It will all come out in the wash but it doesn't sound good if die hard Robbie fans are worried about deramping.

It's always best to be comfortable with the amount you're holding. The boardroom's actions always speak louder than words.

Well I'm definitely going to vote NO to any further dilution. If they want to issue more they'll have to do an EGM and explain exactly why.

They had carte blanche and maxed it out last time.

They have to give a minimum of 21 days notice to hold an AGM and the London market isn't open for RNS until January 3rd.

Sorry where's Notice of AGM I'm a shareholder and have the right to vote/ attend.

2023 will be a better year for investors here. I'll wait until I'm 200-300% up before I start trading it as it's a win / win trade.

Much prefer U.S. stocks for catching multi bag opportunities as there's so many of them.

It's actually a 6 month slippage the latest is an additional 3 months but this will have no bearing because the OCIM repayments are estimated to be 300 Oz which is around the minimum current production.

The conditions will be related to the company's ability to repay the debt in ounces of gold.

There's two ways to achieve this , via producing enough ounces themselves or to demonstrate their ability to obtain the funds to buy gold on the open market to repay in ounces.

We will see which way the wind blows if the company re-issues the expiring warrants next week.

Usually the process is an agreement of heads of terms, then due diligence and then a binding contract agreement but there's no mention of anything binding in either funding RNS , so I'm taking it as they are not binding.

Therefore confirmation RNS is required.

I think our resources are a little too light at the moment. 5Moz and we'll definitely be a target. Over the course of 2023 we could be 3 to 4Moz group resource.

Perhaps towards the end of 2023 yes but it all depends on the developments throughout the year. So far everything is projected or estimated.

It's looking oversold now so the next leg up should have another go at 1p.

Mickey by my estimation Vim Rutha is 310% larger than Kilimapesa hill deposit that's potentially 2.3Moz resource @1.5g/t.

There's no guarantee that they'll be any update on the OCIM website as the deal came with undisclosed conditions.

GCAT are using two companies to supply the funding, so there's no doubt in my mind that they've been in contact with several other companies.

There's lots of PE money looking to invest in Gold production regionally and there's also activity on the takeover side regionally as well.

Anything is possible in the background and we're in a much stronger position now there's a new discovery on a 4.9km gold strike. Kilimapesa gold mine is 1.2km so the future is looking Golden for shareholders.