Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
RedRoy, nice post Gold dore production of 15196oz for next 12months until 31st June 2023. You're absolutely right with average 1265oz/month.
But we can go one better, by the end of year it's 2Koz per month production, so 2023 will account for 12Koz leaving 3,196oz for the rest of 2022 which is 533oz average production per month . Roughly $300k per month profit covering Kilimapesa exploration and NOT funding further expansion.
Therefore capital investment is definitely coming to finish the expansion plans.
It won't be dilution of a placement, so it's going to be something quite exciting for shareholders.
It will be an independent qualified competent person. Using the krigrig system following the JORC compliant code.
RM said they were just dotting the I'd and crossing the t's. Sounds more like they're signing a contract for something.
Don't be surprised if news comes like waiting for a bus and we get 3 lots in short succession.
Not saying they will do exactly the same as Shanta Gold but Caracal Gold will be doing something similar after the MRE is how I see things panning out .
https://www.lse.co.uk/rns/SHG/new-loan-facility-and-trading-update-7nx27xvndwfof9u.html
The updated MRE will support future production grades for forecasting purposes. Even though production grades are always average as it's variable.
Just looking at Q1 results and the company would have made upto $600k from production and spent upto $900k on exploration. £2m ($2.4m) placement and spent $500k on Nyakafuru.
$3m - $1.4m = $1.6m RM says currently they have $1.75m so they have sold more gold but still have another $1m to pay on Nyakafuru.
Exploration on Kilimapesa $300k per month for 2 rigs.
Exploration on Nyakafuru possibly £300k+ per month
$750k in bank with $600k+ per quarter in profits.
See where it's going? Exploration will be funded from production and expansion will have to come from capital investment.
MRE - Capital Investment - increased production - MRE capital investment - increased production.
Check out the last two assay results and you see this
Chief executive of Caracal Gold Plc, Robbie McCrae, said: "The second batch of sample assay results from the drilling programme on Kilimapesa Hill continues to confirm strike and depth continuity, with positive gold grades, as anticipated.
What was anticipated?
strike length of 1,875km has been identified and drilled with the remaining drilling expected to extend this strike 300m to the west and 400m to the east for a total of 2,575km.
No I'm super confident the delay is because it's better than expected results.
ID78 I don't think it will be production & sales that it will rerate on. I think it will be the MRE followed by multi-million pound investment then another MRE and then finally production & sales all by the end of the year.
RM was over here just a few weeks ago and he didn't come back for a PI meeting I'm not buying it.
5p by Xmas
You'll see
RM said last night it's 2Moz from Kilimapesa and they've already drilled the bigger of the two strikes of which is twice the original size from last MRE.
1Moz MRE coming next and nearer 2Moz by end of year.
Do you all think RM flew in for that interview last night? The company isn't going to move forward very far with just PI's
He's courting potential institutionals, don't be surprised if there's going to be a major investment coming here. The MRE will be used in that process.