Member Info for Bebeto

H1 2022 revenue suggest £2,425,000 is accredited to 1972oz of mined Gold ore dore bars sold.

The average Gold price per ounce at that time was $1873.

But GCAT only received an average of $1444 per ounce of gold dore.

A difference of $429 per ounce.

Previous smelting at the mine said the purity of the Gold dore was 75-77% and the difference between the average Gold price and sale price correlates exactly with this.

The Migori Greenstone Belt part of the Tanzanian Craton formed in the Neoarchean period around 2500 million years ago. Where Kilimapesa gold mine is situated, I don't think the composition has changed much since it's formation. So it's no surprise with this correlation.

Sniffer was merely pointing out the fact that mined ore dore bars does have different purity which does affect the prices paid.

It just so happens that historical mined ore dore bars from Kilimapesa had upto 20% silver.

Vim Rutha has found a second element and some of the posters here have claimed that it's silver. It would be no surprise to me if it was either Copper, Silver or Zinc.

Two green boxes lol sad little person with a sad little life not liking people having their own point of view :)

Looks like my troll just can't move on with their life lol :)
Probably disputing my working out plus research.
https://www.proactiveinvestors.co.uk/companies/news/32088/goldplat-completes-second-gold-pour-from-kilimapesa--38246.html

I've got a good handle on these revenues now, earlier I explained what the figures were and now I can say why they're fairly accurate.

H2 2021 average gold price per ounce was $1792.
We were receiving only $1536 per ounce.

H1 2022 average gold price per ounce was $1873
We were only receiving $1444 per ounce.

Here's the reason, it's the purity of the gold dore, historically Kilimapesa gold dore has been 75-77% pure gold average.

The second element in this gold dore was silver upto 20%.

Bodes well for Vim Rutha but the 2koz target may only actually pay 1.5koz because of purity difference of mined ore.

Might be too early to tell but the heap leach could also be less pure.

18 months reduced to 12months June 21- June 22.

Revenue £6,858,000 - £1,009,000 = £5,849,000 (from H2 21)

2021 September sold 569oz = + 7.6% August and +20% July
August sold 529oz
July sold 474oz
Q4 sold 1047oz

H2 2021 sold 2619oz

2021 revenue £4,433,000 - H1 revenue £1,009,00 = £3,424,000

£3,424,000 / 2619oz = £1307 or $1536 per ounce.

2022 H1

Q1 sold 1226oz
Q2 sold 746oz
H1 sold 1972oz

Revenue for 2022 H1

£6,858,000 - £4,433,000 = £2,425,000

£2,425,000 / 1972oz = £1229 or $1444 per ounce.

September to June is actually 10 months from the 18 months financials, belonging to GCAT.

The revenue doesn't match the reported & estimated gold sold (over 500 Oz short) , Q3 results might contain the missing information. (Expected soon)

Legalwolf it's in note 5.

The Deferred Consideration shares were deemed payable before year end and therefore their cost has been included in the cost of the investment. £1m was payable on the recommencement of gold being commercially produced and sold at the mine on 24 September 2021 and £500,000 became payable on the achievement of the first 5,000 ounces of gold commercially produced and sold by KGPL on 31 March 2021. These shares (to be valued at 1p per share as per the Prosepectus) are still to be issued at year end and have been included in the Other Creditors balance.

Expecting to reach 5koz in December. (50m shares to Mayflower Capital)

Legalwolf only 9 months of 18 months is actually GCAT.

My estimation is £5.34m for 3588oz .

T

Legalwolf, I know what the difference is, it's because they use a money transfer service and all revenue from gold sales will pass through them.

"a money transfer service used to efficiently execute international foreign currency transactions. Corpay is a part of the Barclays Group with a Fitch credit score of A and ABSA Bank Limited holds a BB- credit score."

Trek , today is day 146.

This might shed some light on issuing more shares from note 19 regarding Orca :
Other payables include an amount of £825,000 due to the owners of Tyacks for the completion of this acquisition (see note 13) and an amount of £2m owed to Orca Capital for Shares paid for but still to be issued

If the amount is not paid within this time frame, then the Noteholder may notify the Company to convert the loan into shares which will be valued at 80% of the closing VWAP price of an ordinary share on the business day prior to that on which the Noteholder makes its request.

The CLN 150 day repayment terms end this Friday, hopefully funding this week to avoid dilution. No pressure RM lol

Perhaps they sold to Swiss after Q2 and got a better price!

Legalwolf, note 6 on financial statements.

"Major customer: all revenue in both periods came from one customer located in Kenya in each period."

As more and more of the plant production becomes upgraded or operational the production numbers & sales will dramatically swing in our favour.

The exploration side just has to keep finding precious metals, which looks to be the case.

Suggins I refer to note 16 of the income statement dated June 30th (end of Q2) any unsold gold will be in the inventory and it's valued at £117k .

I was using the figures for H1 , 1,972 Oz sold for £2,425m in revenue you'll see how much reduction to spot they currently are getting from that equation.

Half the 6koz per quarter is 3koz or 1koz per month production or 12koz per year which would leave 4koz to pay back the funding (which nobody knows what it will be).

It's going to be high CAPEX this year and next and it will show on the income statement as a net loss.

But the green shoot's will be in the quarterly updates , any gold sold 1,350 Oz or more will put the revenue pendulum on the company's side.

Bearing in mind they are targeting 6,000 Oz production per quarter, even half of that sold is more than double of where we want the pendulum to be.

I'm talking specifically about gold sales and not operating profit/loss as there would be exploration costs involved.