Member Info for Bebeto

Don't know about a big buyer looks more like people chasing rainbows looking at the movers today.

I'm not concerned about getting in at the bottom there's a long way to go with this one. I'd like the company to temper further dilution until we're at an SP that can absorb it properly. The major flaw is in how thinly traded the shares are here.

Legalwolf, I think you hit the nail on the head with the POG because that's the only reason why they rushed into Tanzania asset.

Tbh I'd be happy if the company were consistently producing in the1250-1750 ounces range.

Why have this big 2koz agenda?

Goldplat thought they could get 10koz per year and run out of money trying.

Under promising over performing works better in the markets.

It's good we don't become an echo chamber here.

I wouldn't call issuing over 440m extra shares in the first few months imaginary. A quick investigation would reveal all and sundry were paid in shares. Looks like the majority were flipped at a much higher price than today.

Since then ,

All the locked-in shares have also expired.

The company has increased its banked gold ounces but is producing less than when it started.

The current SP is roughly the equivalent result of paying 1p after dilution.

It's been suggested as a possibility that the company cannot issue more shares to be listed on another exchange due to the excessive issuing already taken place?

They have to comply with the listing rules, it's been over a year perhaps RM should come clean about why they haven't listed yet.

Predator7, yes you're right

But if another company were looking to lend out company money over a period of time. It's possible that they could lend a substantial sum.

There's already enough gold contained within the Kilimapesa mining license to warrant a £35m MCAP that's 1.82p per share.

The whole company is presently being valued at £10 per ounce.

They have already discovered over £143m worth of profits from the MRE.

£7.5m worth of warrants expire on 31st December. To exercise them they're are going to need IMO 300-350% increase in SP.

Can they do it?

Going to be needing a lot of good news from the RNS machine!

It's a Rollover and only cost them £80

Suggins, it's them who has made 0.675p the 1p IPO equivalent, the market has spoken.

Funding is crucial now, there's no getting away from it but diluting to the maximum allowable in the first year is really bad form and I'm surprised shareholders accepted this as well as they did.

This funding will be non-dilutive and there should be no reason for the company to dilute further next year.

Fully undiluted we're are over 2.5bn shares inclusive of options warrants performance & consideration shares.

On paper they should achieve their production target how much of that they are going to receive from forward selling gold is unknown at this moment.

$5m and that's the expansion fully funded.

$10m+ and we're looking at another asset for the portfolio. I'd prefer to see the company go for a producing asset rather than banking more gold on a prospect that will require considerably more funding at a later date. For instance in our prospect in Tanzania it will cost around $30m to construct a mine there. Where as an upgradeable producing mine can be considerably cheaper for the company to grow a strong foundation.

We also need to attract commercial investment for the company to gain real traction. At the moment it's PI's Vs PI's causing volatility with extra churn.

Exciting times ahead.

Yes it's a good form of non-dilutive funding the forward sold gold will come out of the 24k Oz production.

$5m funding will finish the expansion.

$10m could buy another asset.

Looking forward to seeing it.

Goldplat's ambition was 10k Oz per year and they ended up month balling the mine through lack of funds. Currently we haven't reached half of their ambition.

The funding & progress is crucial now as we're nearing being out of funds with low production.

Kilimapesa contains the high grade within the quartz veins width a low grade halo.

I think we need to mine more high grade from the blocks within the prospecting license.

Higher the Grade the lower the AISC and the better the revenue/cashflow/profits.

Therefore this is the area investors should be keeping an eye on.

Only one , you've mis-understood what I was saying, currently Kilimapesa mining license is until 2032 (10yrs) regardless of how much gold is there. I was suggesting the company apply for some of the blocks within the prospecting license , certainly not 53 sq km.

There could be another 1 or 2m Oz of gold in the prospecting area which we cannot currently mine.

M_Night I think so too

We need the financial side sorting out ASAP and the mining license only covers an area of 0.88 sq km , I think they need to apply for more area in the prospecting license to mine. 53 sq km.

Plant 4 has plans for 6 pads at 20kt but on page 18 of present it says crushed material @1700tpd for plant 4 , that's only 51kt for 120kt potential.

All the figures don't add up for a good reason and I believe it's to do with the gold in the mining license compared to the gold in the prospecting licenses.

Clearly there's a lot more gold in the surrounding areas covered only by prospecting licenses. MRE was also cut short.