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@ onlyoneshareme; re reading the latest capital raise RNs leads me to believe they still need additional funding for the crushing circuit expansion and probably for a cash payment towards the acquisition.

Operations are now profitable so cash isn't an issue at least, it's a long wait for the study now but any fears of dilution or political risks should be put to rest now.

Very positive article, thanks!

https://www.thisdaylive.com/index.php/2022/03/07/nnpc-misfired-on-exxonmobil-seplat-assets-sale-deal/

Seplat is purchasing the whole company, not a stake, so I don't think the right of first refusal is valid. Nigeria is supposed to follow the British law procedures which means the interpretation in the article should stand. This is however Nigeria but I don't see how the acquisition is priced in anyway. We are barely back to pre COVID prices and oil is 100$ a barrel. If you are concerned there are other opportunities in safer jurisdictions. May I recommend the North sea?

@jerseycrew how have you calculated the aisc? I'm not sure even the board know that yet with all that's going on. Weren't operating costs 950 Oz from the last results? Think that slightly over 1000 is more realistic once at 24k Oz's.....

https://youtu.be/k2xzTLzaxB4

Basically reiterates a lot of what other gold analysts are saying, gives me confidence to hold long term anyway.
Also, any sustained strength in the gold price will give a nice boost to Gcat and other infant producers' long term growth even if it's not immediately factored in to the share price like inflationary pressures and a mass sell off of Russian gold are IMO.

Would also guess that if an operator like harbour then decides to farm in they would typically want 75% of the field? so that leaves a free carry to eog of 2500bopd? This is of course dependant on serenity being attractive to a big producer.

Not sure what to make of the market cap predictions myself, just know Majid said last year before the farmout fell through he expects serenity, from 4 wells would be expected to produce c/ 40k bopd. So with eog farming in to derisk with a 2nd well I would guess 25% field Npv once built should be pretty large. Anyone got any numbers?

Thought it was to benefit from the 25% tax rate for first 5 years of listing in Kenya. am not expecting more financing until we reach the 20k ozs pa milestone. Know any different?

Confused, am sure you need only purchase shares a day before the record date to get the dividend. Soon find out about the 2 day settlement, I bought some more today so will see.

Goldplat's 5.6% is in a 12 Month lockup until August. They did sell their share based payment for c/ £450k to , I think, a market maker for 0.95 but have no intention of keeping the share price down and would further look for another buyer for their stake after the lockup ends.....

Sellers, I think. Remember the last raise went to mostly share flippers organised by the broker, plus there are what, 3, market makers on the share register? Add to that the people in for 10% gains after drill results etc., it's going to be a long while yet before you see sustained rises before drops back, hopefully to the low 1's next time (still plenty of time for any investor or anyone considering accumulating upon milestones). We won't see a decent return until we're producing 20k ozs and the market sees we can self fund or debt fund, probably towards the end of the year.
Answer me this; How is killimapesa going to get to 50k ozs as implied in the original presentation while the company has 2 other obligations they will be under pressure to rapidly advance through to BFS stage and build?

This is going to take a long time!

Looks like the short position has increased. What we need to do is buy more shares to squeeze them out. Been watching this for a while, thought the tide had turned seeing as they now seem well funded again.......

It's only H1, what do you expect? If the shares have low value then a share buyback is a better use of funds in my opinion and would expect at least another 200k buyback after the full year. That's 3% of the free floating shares gone.

Have had a small amount here for a while after listening to a TMS podcast. Interesting how the mining licence is the first priority yet an exploration licence has preceded it. My guess is that as the offtake agreement isn't secured subject to mining licence, will take some time so will only buy some more once licence is granted and then again after the next fundraiser...... Think we're undervalued here but bluejay has had a mining licence for a while and still has no official offtake or funding so there is no rush in my view. There is also sovereign metals to look at and compare.

Thanks to a research note no doubt. Give the NPV was £576M, and we will have phase 1 making £10M annual net profit at current tin price etc., What would a reasonable market cap look like given phase 2 is 2025 at the earliest and research note states 2026? I think 15-20% NAV is fair given the time horizon and risk given where we are in time. You can hype all you want but anything else they have is early exploration stage and should only add max £40M for the lot in my view given there's no dilution risk in proving it up. That's just over 12p a share, might be a bit generous but that's my best case scenario of where the markets going to value us.......

After reading the fool article earlier, am a bit nervous, feel I should have sold some today before tomorrows news as I think motley fool offers terrible investment advice (usually finding ways to reccomend stocks after price drops like cerrilion). I think cost inflation metrics may get a negative over reaction and receive more focus than future cruise prospects in the near term and sense I may need to average down but don't have much cash....... 500p may be some other peoples targets here this year but I think we may see 220 by 9 tomorrow.

Was thinking the same thing. It has to come up in the end of year, Gcat will be producing 2k Oz's plus of gold by then and the board did mention of at least the royalty of that being paid to shareholders.....

Hi chaps, have just been trawling through the gcat board and have come across this; "To acquire the Kilimapesa gold mine, the company agreed to provide Mayflower with £3.25 million,
satisfied by issuing 325 million shares at 1p in Papillion. Plus, there is deferred consideration of up
£2.35 million, also in shares at 1p per share dependent on the stage of Kilimapesa’s development
and the level of success of the Kilimapesa gold mine. In addition, shares worth £500,000 are due on
the definition of a JORC (2012) Compliant Resource of +1Moz at Kakamoeka, which is now not being
pursued."
Does anybody know if it can be assumed GDP will be getting another big tranch of shares in caracal gold later this year? I can't find anywhere whether the shares are to be payed for as a form of warrants or will be issued by gcat later on in the year either as I don't know how to interperit this.

Does anyone have any ideas?