Remember....16 Jan 2023 12:37
This company was valued at .7 - .9p prior to any announcement about funding.
We've proved the company is solid enough for us to gain funders, one detail caused OCIM to withdraw and that had nothing to do with company stats, data or fundamentals. Due diligence passed with no issues and was enough for OCIM to commit $13.5m in total. Who knows, if government change the rules / law, OCIM may come back to the table in the future.
But, fundamentlas still stand, as they did prior to funding announcment, and nothing has changed since.
GCAT is a gold producer, and expanding. Resources increasing and more to come.
Lab on site, run independantly.
Rigs on site owned by GCAT
A team of around 450 employees doing what they do best.
The price drop is merely down to MM's, sentiment and that time of the year imo.
Robbie is a bloody hard worker, he will be all out tio secure further funding and has a few on the table to work with, the data room is all set up from Philoro and OCIM DD so all the info is there ready to go, this can only help speed up the process.
I see 2023 as a turnaround year for GCAT, both in terms of progress, production and works on sites, but also from the management who will improve and run a tighter ship, news on time, no false promises and sticking to timelines. I have a lot of trust and faith in Robbie and his team to deliver here. I'm now over 50% (almost £100k) down here but i'm not worried and feeling calm and at ease knowing that this will look a very different company over the coming months.
I reckon new finance will take between 3 and 6 months to secure, 3 months is quick, but however long it takes GCAT are producing, and it was more tjhan emnouigh for OCIM to sign up and take jus t 15% of production.
There may be a delay to achieve our hoped for 2k oz a month, but it'll happen as and when, the team WILL deliver.]
Gary McConnell has comitted around £1.4m into GCAT shares, he clearly sees the same and I can only imagine the loss he is showing right now, but I bet he is calm and at ease knowing the fundamentals here and what the future holds. Temporary setbacks like this are part and parcel of shares, especially mining, but we are ahead of a lot of other Co's who are merely exploring and not producing, way undervalued is an understatement here.
Stop the panicking, sit back, forget aboput them for a while and go do something more enjoyable, constructive, healthy and productive. The wait will be very worthwhile.
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