Member Info for Catbert

You can pick up .5g/t off the ground in a pit sample.

I'm upgrading my kitty litter for sure.

Sheffield holders might be anticipating a raise.

With no PFS there can be no clarity on the investment cost. Secondly there is no clairty on the need or not to rehabilitate the port. It may not even be worth it.

In the Crux interview Greg says that in mineral sands there isn't really a need to do a PFS you just dig it up - probably true -but of course with a JV there is both a PFS and a FID.

My guesstimate is that based on what he actually says the cost of getting into production wont be anything like $81m.

A mobile spiral separation plant some diggers and trucks and the concentate can be shipped out in a number of ways.

If he can dig and process 2 tons a day he'll hit his 650,000 annual target if he does that he'll generate $130m US in revenues on the concentrate cost a plant to do that it isn't £81m.

Subcon the shipping and transport and this is trading far quicker and cheaper than most estimate. Some infrastructure is needed to load it onto shipping but nothing complex. Building a port is expensive and may not be necassary at first.

His interview was a bit glib and his thoughts were not expressed in a measured or well thought out way -but he seems to be someone who shoots from the hip somewhat so I didn't sense he was lacking in authenticity.

My guess is that the panic here is overdone. The quality of the project is self evident and there is a lot more resource to add. The primary asset required is a mobile spiral separation plant. Get one of those and were in business. IMHO.

GLA DYOR

Based on what he said 650,000 target would give a turnover of $133m USD.The Chinese got into the weeds over title and one imagines that SL legal system isn't straight forwards.

They have 12-14m sections over grade not included in resource. He thinks easy expansion of resource to 50-100mt so double or triple the resource they have sonic rig and have hired air core as most resource has been developed off hand auger. A digger a mobile separation plant and some trucks and they're in business. Sheffield to help them do PFS and FID early next year.

GLA DYOR

So the second bank hasn't approved the facility but is making positive noises.

The EG and main bank are happy for Kefi to spend their own money (shareholders money) to advance the project.

It is what it is. Frankly I don't see what else Harry and the Board can do except want for the rear guard to catch up with the Van. So much of this business is based on trust. Key advisers our Saudi partners. This is the nature of what we are trying to do here. The project economics stack up and that is crucial should we need to replace the second bank if they don't come good.

Criticise Harry all you like, he can only play the cards he's dealt and to my mind he's played them right.

Did we all get what we wanted? No of course not. Are we still in good shape and moving forwards? Very much so. IMHO.

GLA

I missed the start of the webinar.

Can anyone tell me if we do or do not have the second bank approval?

There is no RNS on this point. If we do have it then why do we not have an RNS explicitly stating this point?

It would be great if we could get this point clarified. Ideally in an RNS.

Where is it? Or do we have to wait for the insiders to sell / buy first before we get to find out?

I'm not entirely convinced that it is beyond the wit of the USA to process graphite.

Given time and resource there is more than a decent chance that the USA can replicate what others are doing.

Not quite telegraphing what is going on but near enough.

These chaps have done the PFS and Developed an open pit carbon in leach gold mine in Guinea.

Probably what is needed for our project at Bibemi and potentially elsewhere too.

My previous estimate for a year end resource at Bibemi based on historical hit rates and current drill plans takes us to near 800koz our new CEO is also a mine builder.

It walks like a duck, it has webbed feet and it goes quack. Any guesses?

GLA DYOR.

The other person pictured is Andre Bezuidenhout also of Micon and prior to Micon Andre was also at Robex Gold and it looks like he did the PFS for Kiniero whilst at Sycamore prior to joining Robex.

Https://robexgold.com/kiniero/

Not a radically different project from Bibemi?

Hmm.

The person pictured from Micon International is Andrew De Klerk.

From his LikedIn profile" I’m happy to share that I’m starting a new position as Principal Geologist and Project Manager at Micon International Limited after 4 amazing years developing the Kiniero Gold Mine in Guinea with my geology team at Robex Gold. I wish them all the very best in my absence as Kiniero advances toward production. The experience I have gained has been invaluable and I look forward to applying this to the exploration and mining consulting industry once again."

The Market Cap is £49.99m. We should be into the Institutional investors sights shortly. With full funding signed off we should really start to motor.

With the imminent mining conference one can't help wonder if we might get some traction on the Wapouze cement project?

Tesla how about a compromise- buy the £5k and tell your Mrs that she can kill you but only when it gets to 5-6p.

Well said Minesinthemine!

The bleating about Lanstead is way overdone.

We have cash in the bank and no need to raise.

A £22k late posted buy from yesterday at 2.6p.

A pretty emphatic looking trade compared to the usual itsy bitsy dribbles that usually comprise the day's trading here.

Hmm?

Pure speculation on my part but most of these buys are round numbers of shares. What if you worked for BCM or were related to someone who did and were seeing them pull something interesting out of the ground- African salaries and savings levels being what they are you might just buy a few. Large numbers of low value purchases all in round numbers?

Hmm.

The prof has cultivated a good number of very loyal shareholders. So much so that the negative news (the departure of Demir) has been spun into a positive.

For the life of me I can't see how. If there were anything economic within sight anywhere Demir would still be on board.

Demir could be wrong of course. The Fosterville comparison and the attempted comparison to the Kingsway and Queensway Projects at New Found Gold by the Prof is somewhere between laughable and simply cruel.

These guys drill 100,000m a year and have grades and thicknesses comparable to Fosterville, CGNR does not.

CGNR is still an explorer. It may find something great but currently it has nothing worth the investment of Demir. No mine . Nada. Not even at Clontibret.

If the Clontibret mine was a reality then project level finance could be found for it. Clearly PIs are missing some crucial information and one must assume that Demir were not.

I agree Kutzz.

It is noteworthy too that we are still in the foothills of the discovery uptick on the Lassonde curve both at Bibemi and Mbe.

The great hope is that there is a lot of news to come.

The next obvious waypoint on value after increased discovery will be the creation of a small mine at Bibimemi.