Member Info for GeologyStudent

Out of curiosity, what is your average? The Blue Sky scenario for this is 10-15p in Q1 2019 and up to 30p in 2021.

standpoint, this should be trading at £40mill Mcap if they can get into the black this month,secure debt funding for rehabilitation and reach nameplate capacity. We have BHP Billiton's former South African corporate finance head in our team.

CF offloaded all their shares to the MM thus no longer have an equity interest in CRA, however the MM has yet to clear them as strongman alluded to. I believe the MM's still have 3mill of the 34mill that was offloaded by CF.

I've been tallying up buys and sells since they offloaded 34mill shares.

3mill shares remain from City Financial's sell.

Thanks for that, but I find it coincidental that selling from City Financial started immediately after the poor operational update. Hmmm...

Debt owing to ZCI includes $10mill secured loan, in addition to $20mill unsecured loan. Thank you the clarification. Total debt still stands at approx. $44mill. It is good news for CRA as any debt owing to ZCI will be easier to renegotiate due to their 40% equity interest in the mine.

Thank you for confirming my earlier statement that CRA have $20mill of debt owing to ZCI and total debt of approx. $44mill. I appreciate the effort you've gone through to identify that document.

Please refer to the powerpoint presentation that was released shortly after admission.

City Financial initiated their selling spree at 2.5p, given the nature of the drop since that level. Anyone agree?

4mill buys and all shares will be taken up. Should happen today....

1) A close analogue would be Metal Tiger and MOD Resources JV on a Botswana copper asset, which is coincidentally of a similar size but is forecasted to produce copper at a lower cost base. MOD Resources is valued at £50mill.

2) Total debt stands at roughly $44mill. I understand we owe an unsecured $20mill to the previous creditors of the mine ZCI, and as they maintain a 40% equity interest in Mowana Mine, it would be possible to defer interest and principal payments to them with relative ease. The remaining secured portion of the debt will probably be harder to renegotiate.

MM's still hold 7mill of the 34mill shares that were disposed yesterday. Should be all bought up soon.

They raised £2.4mill on 1st August. Given the poor performance of the Group demonstrated by two consecutive months of net cash outflows, I believe they have £800k remaining as of 1st Oct.

"Monthly positive cash flow of $3mill" - not 3.1

I agree, we are financially tight. We need this month to be cash flow break-even or positive, or I suspect an equity raise for working capital purposes. Currently, our monthly cash outflow is $2.7mill and we can break-even at 50% of nameplate capacity. However, if we manage to secure debt funding for rehabilitation, we can reach nameplate and our cash inflows will amount to $6.1mill at $2.80/lb. But in order to do so, we need to deploy a fourth mining unit which will increase monthly cash outflow to $3.1mill. At nameplate, we will benefit from monthly positive cash flow of $3.1mill. Moreover, when the current deferred debt service payments and other deferred liabilities are reinstated, our monthly positive cash flow will reduce to $2mill.

They only started generating revenue in May when commerical operations commenced. A restart of any operation is capital-intensive.

is they disagreed on the resolutions, and failed to reach a satisfactory arrangement. They absorbed a near 90% loss on their investment.

net 10mill more buys, this should move up if there are no more large sell orders to be filled...

If you are referring to the £1mill deferred consideration owing to Penmin, I believe that can be deferred further as Kevin - our CEO - owns Penmin. With respect to the principal debt owing in April, we can satisfy that upon proper repairs of the plant.