Member Info for FillToSpill

I'm not sure why this continues to slowly fall. What is the market concerned about?

My thoughts are the Coringa license is the sticking point.. Everything else within the company seems to be ignored with future of the company hinged on Coringa. Palito potentially discounted as already been mined for a number of years..

Remember this Tweet.. It shows were pit 3A and 3B is (relating visible gold) which is not the same as the open pit they have recently been mining high grade which is highlighted as pit 2A.

https://twitter.com/CaracalGoldplc/status/1640980362804297728?s=20

That's alot of visible gold.. I can imagine the g/t within that sample will be very high..

They are running two smelts a week therefore potentially 350 ounces per week, not 175..

Dont think we have been provided full detials of the open pit expansion.. Looking forward to hearing the full plans..

2 of these smelts a week would be circa 350 ounce or 18200 ounce for the year...

At an improved AISC of $1100 that would be circa. $16.3mil profit.. Lets hope the continued exploration extends the high grade material further..

Sounds like the funding pretty much in place at $15.5m..
Tonnage throughput increasing all the time as they buy new kit and expand operations.
Currently 400tpd but looking to increase to 1000tpd at circa 3.5g/t..
Confident more high grade zones and looking to increase resources to 3mill ounces of gold.

A £100m + market Cap company in the making.

Lets hope it all pans out correctly.

GCAT ASIC should come right down if they mining high grade open pit.. :-)

The 1000tpd would be in line with the neighbouring Tanzania mine, once the mine is upgraded then I suspect GCAT will be aiming to replicate this output.. Would take months/years to get there of course..

500tpd would be a good start short to medium term.. At 3/4 g/t..

The funding news will be significant..

However, another item that would certainly be welcomed is relating to the high grade ore. Hopefully the 180 days is confirmed as minimum 2 years and the deposit of high grade ore is extensive and at the surface, possibly also in more than one location. This would really get things moving and on the back there would be an updated resource...

If this turns into a continuous high grade mine from surface and plans are to run 1000tpd at average 4 grams then the share price will fly..

Wondring same myself.. What do they mean by second smelt this week? Maybe held two weeks worth then done smelt in two lots ready for smelting.. Either that too much gold for one smelt so had to do it in two batches..

My understanding of current information available is that the new high grade zone is being mined open pit above the previous lower grade material. If this is the case then the ASIC will be significantly lower open pit mining high grade rather than lower grade undergound.

All I'm thinking about is 360TPD x 4 = 1440 grams or 51 ounces per day... Assuming cost production costs of $1100 per ounce and gold price $2020, that's 51 x $920 profit a circa. $47000 which is circa. £1.4mill a month and $16.8mill for the year if they can keep the high grade ore going...

Already confirmed for 180 days with drilling to define the full extent.

Live price already back to 0.3 - 0.4p..

I bought more this morning.... Should have waited...

I would expect this to bounce back very quickly...

I'm surprised this hasn't moved further today.. (Still time yet).

180 days of high grade is essentially 6 months which brings the development of this to circa September. Exploration drilling will likely start in June over these areas therefore from September the drilling work will help decide where to dig next and hence potential for continuous high grade going forward.

Then begs the question, how big is the high grade zone.

Doesn't appear they will make much profit this year but it reads as though a lot of the extra expense has been put into developing the other mine to production. Once this work is complete and the company is earning money from the new mine, results should really impress. Not many share sin issue either..

I've been in exploration shares that have hit in excess of £25mill market cap with nothing but mineralisation in drill cores..

I bought in this morning...

£10mil profit per year and market cap fully diluted circa £25mil???? Some bank debt appears only around £3mil..

As per their presentation, discount to peers x5.5 based on current production and x9.9 once they bring on line the other producing asset this year.
Also, they have various projects and alot of acreage in highly protective areas with ongoing and well progressing exploration.

What am I missing? Perhaps the risk o operating solely in Brazil weighing on the market?

The pull back and selling here for me is basically lack of news/clarity and general market sentiment. The longer we go with no news then there is inevitable going to be sellers that are nervous/bored/require cash or catch the jitters.. Totally understandable and will test everyone's nerve.

However, I still believe in the correlation between historical data and new magnetics/soil samples. Very close to Telfer mine and Haverion.

I suspect Terra Search is outsourced and completely in control of the drilling process and analyses. They wont look to provide snippets of information to shareholders, I think they will wait until they know exactly what is there before providing analysis for release to public.

RC drilling is quicker than diamond core therefore even with COVID delays, they could well be 5-10,000 metres into the drill.. I would imagine drilling to have already stopped if the initial rock chip samples did not match the data and geological models for the mag targets.

Holding and waiting, just as the share price might tumble on bad results, we could also see a 100%+ day on initial feedback alone. The drills might reveal large lengths of mineralisation from relatively shallow depths, confirmation the target extends the whole 1.5km x 400m and similarities to Telfer mine..

Worth the risk IMO.

This is always worth a read whilst waiting news.. The Telfer mine is unbelievable and only 16 kms away.. Similar signatures at Red Setter..

https://en.m.wikipedia.org/wiki/Telfer_Mine