Member Info for Gallmat

Thanks deck chair. I will add this to.my list of sources

Who would want to JV at that rate?

Most annoying thing is being told we are waiting for something but not being told what. Bit like someone saying i have a secret but cannot tell you

Do you have the link?

I am still at a loss with this.

1. Paying 65 pct of gold price as royalty

2. Having tiny market cap. Massive dilution.

How are they going to fund this and make money.

Will GOI get a decent sized mine built.

Does this make sense to anyone

It is 3 from rns

Ok we did not have that one yet. Bottle of champs to you if they give us a license. I will find a unicorn for u!

Strictly for fun. Not a dig at the stock/situation/CEO.

So far we have

1. Waiting for company to put in 120m usd to settle.

2. Completing the auction formally.

3. Lawyers ( other reason)

4. Waiting to see if winners of auction can follow through and maybe we get deal with 2nd place winner ( mine)

I started a sweepstake with some other investors on the reason for the NDA delay. Any guesses from u guys?

We have a bottle of champs to the winner :)

All the comments below are really my thoughts.

It sounda like lots of things are a bit up i the air. I suppose that is why MB did not release the new presentation that he mentioned to prof a few weeks back.

I was hoping prof was going to update on the call he was supposed to have but he seems to have gone quiet

I did have a quick discussion with MB when auction result came out.

My feeling was the focus was all kalaka but he did not really elaborate much ( as expected). I think exploration assets do not sell much upfront, so the value is having someone who will spend and develop the asset.

The one strength i see, is that as a partner there is a good chance we will have cash in a few years. I hope any deal is structured, and maybe has us agree to fund the mine under certain conditions.

If we do that we might get a good deal, as we are solving one of the big issues in mining development.

These are just exploration targets. You can buy these cheap in the market.

We need a JORC resource to get real value in Kalaka, so people know it is economic. Then with some certainty they may be interested in others for blue sky.

The only possible thing for waiting that makes sense is to see if the small firm who won can stomp up the 60m usd.

Are we hoping they cannot complete and then we can discuss something firmer with the no2 bidder. Someone with enough cash to make a 3 way deal. GOI, us, them.

That is all i have to guess. Been in this 4 months and it is a puzzle :)

The only conclusion i have is drilling kalaka makes sense in both deal/no deal scenarios.

If the deal comes we want this info anyway ( and keep kalaka)

If deal does not come we want if for spinning out.

The level of cloak and daggers is beyond me. If you take it at face value and we are doing this to spin it off there is no deal. If no deal why no NOA.

I also wish we had a clearer read on what is going on. Hard to see the logic through all these actions

The fund raising i think was just because we were so low on cash i think.

Yup. Looks like we are going to prove what we have before going to next stage.

Diamond drilling i think is slower 20 to 100m a day

So could take some time to get assays.

The we have wait to analyse ( dependent upon lab)

Then met tests

I did look at some heap leach mines. AISC from 1050 to 1400. I think if really depends on exactly what we have.

The myster of PAT continues, always an RNS, just not the one u want :)

Bit confused on timeline. Are we drilling doing met work, then signing deal. Or signing deal soon

I cannot work it out, so another just sit back and wait RNS

God knows. I went on holiday and swiched off thinking about this.

Something will happen when it happens is my new mantra

How much is the claim with accrued interest. Expecting a big further rise?

Whem MB said waiting on something. Do younthink it is the initial payment of 60m usd from license?

Prof, did you have the call with MB?

He mentioned updated presentation i think and news on the west african assets.

If it is not a deal what are we waiting for? Even the vsa video said we can start the process and pause it at any time.

Example of strange things with dfr

CEO stepdown

https://dfrgold.com/dfr-gold-inc-announces-board-changes/

..also states challenging conditions

New guy giving half million usd loan.

https://dfrgold.com/dfr-gold-inc-announces-us500000-loan/

Seems like there is more optionality here than i thought :) your 9m gbp could be right which would de risk this so much!