Member Info for Bebeto

I'm factoring in

$900 per ounce for processing plant.

$500 per ounce for heap leach plant.

$500 per ounce for exploration.

$30 per ounce miscellaneous..

I think would be a truer figure.

Apro, I refer you to November 2nd RNS :

September '21 production (processing plant only)

569 Oz produced at operating cost of $987 per Oz.

Total cost per Oz was $1,694 which included AISC and some CAPEX.

This is pre heap leach operation and pre two rig drilling campaign.

With two drill rigs running the exploration costs are $300k per month which alone would add $527 per Oz for the 569.

Are you really expecting heap leach operation cost free?

Comparing perceived AISC with profits is misleading everyone.

Lol I think it's all relative to the amount of gold sold, once they're selling over 1koz per month the tables will swing in our favour. 2koz per month will provide very strong growth in profits.

I've been looking into OCIM and they're a perfect fit for our company. I really like their business model and can fully understand their position.

I said the other day that a J/V or similar seems likely and someone actually said OCIM are that but not in name and I think they were bang on the money!!!

Being a funding partner is a type of joint venture and this OCIM looks like just the beginning of their interest with GCAT.

Apro,

Revenue is only through the sales of precious metals.

The Cost of sales is the same as COGS:

Cost of goods sold (COGS) is the cost of acquiring or manufacturing the products that a company sells during a period, so the only costs included in the measure are those that are directly tied to the production of the products, including the cost of labor, materials, and manufacturing overhead.

It's not taking ALL expenditures and coming up with a random number. It's audited and put into the correct position on the income statement.

Apro, if it's included in the AISC then according to the audited income statement the actual AISC is around $1930 per ounce.

Apro, you haven't taken into consideration the exploration costs.
By my estimation 2 rigs adds up to $800 per Oz for the first 375 ounces.
4 rigs would be at least 750 ounces (as the extra 2 are hired could be more).

The above needs to be included if you're looking at a company's FCF.

I think the SP would have went a lot higher if they hadn't of omitted the terms. Transparency is an issue the company can really improve on.

After market RNS today?

If you're comfortable with the amount you're holding it shouldn't really bother you if someone is negative about your investment.

It's interesting that the warrants (2.5p strike price) expiring December 31st '22 would have raised £7.5m and the OCIM funding will raise $7m on or before December 31st '22.

Sounds like the CAPEX is mostly pre planned..

LW it's 35koz repayable over 19 to 24 months.

RPdard, lower spot price would be a double edged sword because it would bring into question the production viability combined with how the company would generate the necessary funds to buy on the open market. It could soon turn from non dilutive to dilutive funding via a placement.

I suspect they are going to tag an updated MRE into the Q3 results.

Paul, 300 ounces per month is probably the minimum proven production the company has therefore it makes sense to have as repayment.

I estimate 300 ounces per month for 24 months.

Director Kisbey-Green a qualified mining engineer , when he upped his estimated 2Moz resource to 3Moz plus resource , it makes me wonder where we are going.

There's also a fair bit of PE money looking for opportunities in the area.

Trek , there's multiple interested parties with Shanta, don't you think they'll be some on the news of a large discovery for a relatively cheap gold miner?

It paves the way for a J/V /merger/ takeover, there's a hole in the funding for Vim Rutha if it's a major discovery, they'll be some kind of transaction possibly for the company or asset.

I think everyone's missing what's really going on/going to happen.

The finance deal was clearly a compromise deal whereby GCAT wanted more and OCIM wanted to pay less. So they came up with a compromise using conditions. (They can always do another deal later on)

GCAT has already spent over $11m in H1 so $10.5m isn't a massive expense.

The interesting thing is that the funds are to be used to complete the expansion and fund phase 2 in Tanzania.

This leaves the big elephant in the room Vim Rutha, are we looking at a J/V or something similar I wonder. It's a lot bigger than Kilimapesa and higher grade not forgetting another viable element.

Something big is going down in the background IMO.

The 50m shares for 5koz poured/sold is for Mayflower and not Goldplat.