Member Info for ID78

30th June!!

Suggins - thank you

Folio, you mention a visit by TRX - when was this?

TRX onsite visit… when? There was one be a few months ago. Are you saying one of the visits the other week was by TRX?

If so one visit was a consortium, the other by TRX.. and that would be TRX’s second visit to Kilimepesa. Which would be interesting…

As WOS says,

- would they be pushing the paperwork 2 years early

- cash now (albeit reduced a little) vs cash starting in 2 years?

- ramping up production from Heron will take time - how many wells are we talking?

- finally. How many years production from Heron? So what % thought the refinery and how much not? Given the point on production ramp up I think we are talking about more than 90% of the oil going through the refinery. So in the big picture how much money is lost by pumping a little of it now and selling rather than waiting to send to their own refinery?

So delaying till the refinery is ready - nup don’t see it.

Yes BP - and that’s why they are actively encouraging investment.

So it doesn’t happen and to stay small scale.

LOL

Yeah but Doc (assuming you are correct - none of us know the wishes of the majority of the Mongolian people) … it’s the government that want investment and the government awarding special certificate.

So….. your argument about the people (a massive assumption) means nothing.

I’m loathe to ask.. is this aimed at me?

I’m thinking of buying back in but want to understand what I’m getting into. Always found the board a good place to ask questions.

I was very bullish in the past. Now - I’m more cautious and want to be able to weigh up all sides to the story including risks. To do that I need to understand the prospectus and CLNs discussion.

Hi watcher, yep, exactly.

suggins … orca deadline? When is that? Might give a date to aim for with the prospectus..

I think priorities are/were

- cash flow and financing first and foremost
- then corporate governance
- then prospectus

I understand the delay to publishing it. The other two priorities I think are more important. Hopefully with the first two either well in hand or complete, hopefully attention can now be focused on the prospectus.

Fair comment, thanks legal.

I’d think they’d be hitting that as a priority, the interest rate is nuts.

Also if required for regulatory compliance

- is there a deadline to issuing the prospectus?
- what happens if not issued in time? (A fine, could it could there be suspension from trading?

Thanks itsyou. Have to admit I don’t have a grasp on this stuff.

Leaving out the CLNs I am counting 445mill shares, so dilution of 23% when issued (current shares in issue 1879mill).

Adding the CLNs.

£3mill to orca
£2mill to Koenig
£1.2mill to mill end. Interest = 133% - so soon to be £2.8mill

£7.8mill in CLNs?

If these are settled in shares the that’s almost the current MCAP, so doubling the no of shares issued? Again I don’t have a good grasp - am I talking rubbish?

Part of me wonders if the financing is to help clear some of this. Then again, is that in GCATs hands? Do these lenders have an option shares or cash and the decision is there’s?

As you can see I don’t know how this works…

Worst case I see is the shares in issue may (roughly speaking double)…

(Trying to start a debate so I can understand this better)

GLA

Ultimately the story is fluid, constantly changing and evolving and for the better. This makes any projections a snapshot of what we know now, but in a month that may be different.

- Increased ability to mine (new dozer)
- increased ability to process (CIL, crushing) not yet in operation, but being set up now I would think as bought and delivered the other week).
- Drilling to establish the extent of the high grade region.

By the time this high grade ore is mined and exhausted - hopefully - the mine expansion will be complete.

Indeed, they could mine and process more (and I think they will) but then the run of 13months ends more quickly, the other side to that equation. Mine more quickly, run out of high grade ore more quickly.

However, they have explored 800m of the 1.9km of this zone. So they will hopefully find more of the good stuff, find more high grade ore.

We should know more in about a month (it took a month to prove up the 800m drilled so far)

Ahh ok, thanks Dozz

Ok… so

- 4 g/t
- 400tpd
- AISC 1250 $/oz
- plant availability = 75%

Cumulative free cash flow for 13 months = $ 5.7mill (£4.6mill)

MCAP is double this (maybe) - we need the prospectus to know tbh.

*in

And I’m the meantime someone is buying - heavily

Wonder if there will be another delayed buy of £100,000+ today..