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Some of the money loaned was to pay for the audit and get the accounts sorted, previous fund raising was to pay for the costs incurred for the financing deal.
Going by their tweets there clearly making some money to be able to pay for upgrades and new equipment.
Bebeto, you’ve been negative on Caracal from the start, as soon as it’s out of suspension sell up, leave and close the door on your way out. I’ll lock it from the inside so you can’t return…..You say you’re invested here, do your research. Look at production, do the maths,….ok they’ve had a few setbacks, what young company hasn’t.
Support your investment and believe in why you bought in on the first place. Unless you bought in on a tip from a mate of a mate who knew a guy he bumped into in Aldi who overheard a chap talking about Caracal.
Gunster
It makes a big difference. They’re mine plan is based on an AISC of $1700, with PoG currently at $2065 that’s $365 an ounce more which equates to about $220,000 a month based on previous production of 600 oz a month.
That’s pretty good and just because they are suspended and don’t have accounts out yet or a Q3 report they’re still producing and making money. More than they expected based on their mining plan.
Q3 production I believe was affected by some kill downtime, but soon we’ll be expecting Q4 results too to give us a better idea of where they are plus news on what works have been done to expand pending the bigger funding being announced.
Lots of news due, can’t wait to see this company after Q2 2024, it should look very different indeed.
@Jersey. I echo your comments and sentiments.
Robbie is juggling a lot with not a lot of support, like you I believe this will transform through 2024 and he will get that support, and the cash of course.
Caracal are producing, PoG can only be a big positive right bow and the months ahead. When gold was around $1970 they were selling their oz for $1900 which I thought was amazing.
So much to come here, yes we are in suspension, but this will come out, prospectus will get approved, financing deal will be done and 2024 will be a damn good year for all shareholders here.
That’s my belief. Been here long enough and underwater right now but not concerned at all and just patiently waiting for all the ducks to line up and for the company to leap forward.
So much negativity here, I can understand why due to things taking longer than expected , but look at the facts and there are plenty of positives to take
A raise of almost £100k at a price above the current sp, 50% above. The HNW involved must have some info that tells them their money is safe and the future is good.
RM has loaned the company $40k. Might not be much to some but a decent amount and shows confidence imo.
Yes, financing and prospectus have taken a lot longer than anyone expected, but I’m sure it’s being worked on and things are getting done behind the scenes.
We’ll have Q3 report soon too, there was some downtime in the quarter, but the event was handled brilliantly by the team to get repairs done and operational in such a short time.
New equipment is waiting in the wings ready to go once financing in place. A lot of work done to prepare for works to get underway full steam ahead once financing in the bank. Upgrade galore planned and approx 6 months to achieve 2k oz a month production.
In the meantime, geology works continue, exploration ongoing and hopefully more to come and resources increase on the cards at some point.
Of course I’m disappointed the SP is languishing where it currently is but positives are a plenty here and all we need is a bit more patience and things will turn quickly once news flow starts.
I think things here are moving along in the background.
A while ago I did a LinkedIn search and only found four or five people employed at SYME.
A search today results in over 20 people currently employed.
That’s a big change.
This suggests that a lot of work is going on and progress is being made.
We may not get any real news until mid to late Jan when results are released, last ones were 20th Jan 2023 so hoping similar time next year. Not that long to wait.
I for one have confidence here, yes it’s taken so much longer than we all expected or wanted, but this project was huge, AZ was dreaming a couple of years ago thinking it was imminent. But having achieved first IM’s both in Italy and the UK, and they announce that each IM would not be separately announced, I can only assume that they are going to drop the news all on one go and announce multiple IM’s.
White Label must be on the way too, sometime in 2024 I think, and this will open up a nice tidy income stream.
How good this will be who knows, but there’s a lot to be positive about
GLA all holders
Watcher36
We’re all waiting on some news and solid updates. I don’t see it as an insult at all. It’s good to get the tweets and see what’s going on each week. Gives me confidence.
And no news on financing to me, at this point is ok, if it had collapsed we’d have been told by now, so my view is work is ongoing in the background and we will hear once it’s signed and drawn down.
RM told us quite clearly that financing wasn’t dependant on prospectus, I’m assuming this hasn’t changed.
We’ve also been told the Financiers are going to put someone in as a director, maybe this is taking longer or other finer details being resolved.
Who knows, but I’m confident things are happening that we don’t know about, but we will soon find out once it’s released.
There’s an awful lot going on here, a new conveyer to get them up to 500tpd throughtput is good news too. Clearly things are being done on-site to improve production, every little helps, at least until finance is in and we can go full steam ahead with all the new equipment and increase production to 2k oz a month, which we were told would take 6 months to achieve. Not a bad timeline.
And, we have news of the TZ JV due too, and with the Bank of Tanzania wanting to buy tons of gold, this may push our licences to be issued, even though we’re two years away from production there.
A lot to come here and I’m waiting patiently (and a little impatiently) for all this news to start flowing.
Roll on Q4
@Chaiwala
I was in another company that suspended for the same reasons and it took a few months before they were back trading. It was down to an accounting issue from when it was a previous company before an RTO.
FCA are understaffed and things are taking a lot longer than they should. A new/revised Prospectus for an existing company is taking about 4 months to be approved.
It all takes time.
@jjJerseygirl
Do you live in Jersey? Only asking as I’m a Jersey lad but moved away a couple of years ago.
Maybe there will be a payment made when it’s due, and not before. Maybe they have the cash in the bank from high grade zone sales.
Another exciting part of the puzzle we’re yet to put in place and find out the big picture.
And prospectus, I hitch is the key to unlocking everything else in my view. I’m sure it’s imminent but we are in the hands of the FCA.
Q2 results are exciting and can’t wait to find out how well the high grade zone has produced / performed.
Financing news and JV are probably more linked to the Prospectus.
If we get all of this news in Q3 the yes, I believe 1p is possible but who knows how the markets and investors will react to it all.
Exciting times and the waiting continues.
Totally agree, MCAP of just £7m is crazy, but I think Q2 results will change this along with our financing that we’re hoping is due any time now.
I can see the MCAP doubling at least with news that’s due, possibly more but all depends on how the markets take the news and how much confidence comes back here after all the past failures (financing)
Time will tell and I don’t think we have long now to find out.
As previously mentioned, I think they’ve been exploring over the last few months and news on this will come out in July, just my opinion and I don’t know for sure, just hopeful.
Mining this high grade area has been such a bonus, not only to pay off debts, but also to progress ground works, if not in Q2 results then I definitely think Q3 will be a good quarter.
Hi JC
Yes, Robbie did suggest financing in Q3, he might’ve even suggested early Q3 but either way it’s Q3.
We’re nearly there now and I do hope we see the sp trickle up a bit heading towards funding news.
I also things they will have other news to come out shortly after financing. I believe they’ve been doing a lot of hard work in the background and building things up nicely.
I for one can’t wait for Q3 and beyond. Exciting times but keeping calm for now
Going by the increase in production I think the company will be able to pay back Mill End in cash in my opinion. Hopefully the new financing is agreed and paid to Caracal soo not guarantee this and some of it is dependant on the prospectus and some new shares being issued regardless, but hopefully a larger amount won’t need to be issued to Mill End.
Getting closer now and possibly no more than a month until financing news hits. Once it does things will get far more exciting.
I’m also sure that with increased funds, drilling and exploration is also moving forwards.
A lot going on.
It has been rather quiet here for sure, it as you say, rather active on-site which is great to see from the tweets.
Hopefully you’re right on funding and that RNS lands in the next month or so. Will be a big day and a huge step forward here and will allow so much other progress to happen.
Exciting times (hopefully)
And repaid from gold sales thanks to the high grade zone producing so well.
Well done to everyone at Caracal, clearly a lot of hard work going on and further steps made in the financing journey too.
I’ve to see the SP hold is little rise today, even on such small volume, hopefully as we get nearer to end of Q2 we’ll see the SP start to go up just slightly and hopefully up a lot more once funding confirmed and it’s in the bank.
Have a great weekend everyone, very excited for the weeks and months ahead here
@JerseyCrew
Good post and I think your figures add up nicely, albeit rather conservative imo. And probably yours too. There are a number of variables to consider in any calculations , and you’ve calculated one bar a week, and they’re producing two. This story is just beginning knowing all that’s to come in the next months / years.
This is building up well, the company have done and achieved a lot since finance collapsed. Much better comms and not over promising.
I for one am excited to read Q2 results, and new financing is getting close now and I reckon will be confirmed before end of June, but could be into July, just have to wait and see.
With big hints on twitter that the funding process is progressing well, I think both prospectus and funding announcements are due soon, hopefully by end of Q2 but early Q3 is possible. I’m sure an announcement will confirm funding agreed and money already in the bank rather than what happened last time.
Also excited to see Q2 production figures too. Once funding in work will progress on drilling, results and increasing MRE which will in turn provide more confidence in the company.
A lot of news due here and more than happy waiting for it.
In some cases yes but this is Jon dilutive funding and no interest as it is likely to be money for forward gold sales so in effect it is funding from production. They’re just getting the money up front in turn for selling the gold to the finder at a slightly discounted rate. Win win situation.
Having the money for future gold production allows speedier work on the ground, more drilling, upgrading plant and more and in turn should increase production and get new areas on line and producing, getting to their 24k oz a year target sooner and increasing this further one Vim and TZ come online.
So much to come here in the next months and years.
Depends how big the pours are each time as to how many a week they’ll need.
Don’t they have a mould with three layers, so potentially one pour could produce three bars?
Good to see Twitter active again and Elizabeth is feeling better, finance on track and going to plan. Hopefully the DD team were very impressed and things get signed up soon, that announcement will get us back to where we should be.
Still no news on prospectus.
And 30 day update coming soon too.
What a year so far…..