Member Info for Bebeto

We'll some people think RM was just networking going to investor events in Germany and London, even though he'd already sorted out the funding but the funding didn't actually cover the new discovery.

So there's more to come IMO

Sellers beware

We have a new discovery with extraordinary exploration drill results!

There's a lot of money waiting to invest in East African gold don't be too quick to dismiss some of it coming our way!

Sellers beware

Literally depends on the other company if they want us to suspend.

£13m MCAP I think we're vulnerable for a takeover especially if we have a considerable new discovery.

Everyone is entitled to their own opinion.

I was thinking more of a takeover or the likes

Wonder what's going on in the background, might see a suspension pending an announcement...

Sniffer wow, I was thinking 10-12g/t would have been amazing but anything like 28-58g/t could blow the doors off LOL :)

ID78 for comparison SHG has an asset in Tanzania,:

6km strike length 1.5g/t Au (gold) MRE 1Moz

Vim/ Rutha 4km strike length with potentially double figure gold grades. The MRE could be more than SHG. 1Moz.

As we wait for some of the quoted " extraordinary" exploration drill results carried out at Vim/Rutha here's a reminder what the prospectus said:

Grade Potential 12g/t

Potentially large, partly untouched resource of high-
grade ore.

I'm expecting double figure gold grades and another commercially viable element to have been discovered.

4km strike length it's going to get really interesting!

Dmors today's trades is today's market whatever the market size.

Markets don't like delays it seems.

Apro, these boards are to discuss companies and share investors thoughts & views. Healthy discussion is good but I was just pointing out nobody is perfect.

Yes it's called RMLovers :)

Apro, pot & kettle springs to mind how far out was your production estimates? ;))))

According to my calculations the heap leach has just over 10 years and processing plant 13 - 15 years but the licence is under 10 years left and exploration license has 2 years left.

Apro , were going to have to agree to disagree, I'm confident with my figures and working out, taken from the financials and upscaled to 2koz showing current $1,240 per ounce estimated rate.

LOL apparently I'm 8th top ramper here!

Apro, look at the latest presentation and you'll see that the projected 24k per year production is from plants 1&2 50% and plants 3&4 50% (heap leach being 3&4) . You only need to work out the first 50% and the remainder would be projected heap leach costs.

They were exploring the mined ore body therefore exploration has to be included.

Using the calculations I've set out below and then upscaling them to 2koz per month we can see where the MIS interpretation of $1200 per ounce is coming from:

2koz is achieved from 50% processing plant and 50% heap leach operation.

Processing plant

$900 per Oz + $500 exploration + $30 misc = $1450 per Oz.

$1450 x 1koz = $1,450,000= 50%.

Heap leach operation:

$500 per Oz + $500 exploration + $30 misc = $1030.

1koz X $1030 = 1,030,000 = 50%.

Total for 2koz

$1,450,000 + $1,030,000 = $2,480,000 = 100%

$2,480,000 / 2koz = $1,240 per Oz.

Conclusion:

RM is correct to say the current AISC of $1200 (estimated $1240) per Oz.

But he's talking about the rate of 2koz per month and not actual.

Them calculations are for around 500+ Oz production/sales per month. Obviously 1koz & 2koz will dramatically bring them figures down.

That's where I feel the mis interpretation of RM talking about AISC is coming from.