Member Info for ID78

@steve - correct. And this is why we have 3 companies (maybe 6/7) interested in exploring funding for the mine expansion.

4 months ago the SP was higher, we suspected funding was needed and hoped it would be non dilutive. Now we know what is needed, but we know the scoping study details and that there are possible non funding options out there (not surprising given the scoping study).

@magnum- I can’t see why philaro would get jitters and walk. Provided they aren’t looking for the exact same conditions/security (and we have had not mention of conditions) then there is no reason to walk.

The only thing is presumably Robbie is looking for that funding sooner than planned… Robbie will also look to see if he can secure additional funding from philaro.

I do agree, RNS-ing the funding before it was 100% certain was a mistake.

For me… the there are 4 companies GCAT can look to to secure funding. Not 1…. 4.

This helps me relax a bit and appreciate the drop is overdone, IMO.

Also good to hear details of the condition that caused this the funding to be pulled (when it was added and that it is essentially out-with RM and his teams hands).

GLA

@Magoo79 - I’m hoping Philoro increase their investment. I suspect RM is looking at that first, they have completed all DD and would be the quickest route to agreeing additional funding and to helping recover the SP.

The other source(s) of funding I hope will take 2 months, worst case. Just have to wait and see - however RM buying (a significant amount) would be more than a little welcome just now!

~ ‘back in October’ not end of October, nevertheless much of the leg work should be done (May-Oct).

In oct went exclusive with OCIM and announced funding early Dec

@Dan ‘hopefully funding will be quicker’.

Well GCAT had term sheets from these companies. I’m assuming they’d performed some level of due dilligence.

They way I see it (could be wrong) RM and the team went looking for funding in May (I think). In October (end of did he say) they had term sheets from all these companies and went with OCIM. So - the way I see it is the discussion and DD with these other companies is already rather advanced?

Coldspy- like the optimism but it might be part funding from 2 or all of the parties… got the impression OCIM was preferred as they offered up so much.

He always seems confident lol.

Let’s hope there are no more unwanted surprises!!

Well.. .. the fact there were 5 parties (3 new and the 2 already announced) - shows the project is appealing.

I’ve bought some shares back as it SEEMS non dilutive funding will be an option.

I’m October when they went exclusive with OCIM they had term sheets from these other companies.

So I’d like to think they are a good bit down the DD path with those parties too…

3 other parties interested in funding, already contacted Caracal…

Good post CCC

@Dan - that is my understanding too (re licences).

But…. um… if these were the conditions of the funding, did RM and the team not know and understand this? In which case, if they were not happy with it why so happily announce the funding deal in the first place??

HUGELY disappointed in this news today. Funding remains a risk and we are back to 0.5-0.6p. Now I am starting to question Robbie and the teams performance if I am being honest. I sold half my holding at 0.9p and this is a great re-entry price but I have lost some faith in the management team. I would like to understand why this conditions us not been understood until now.

Yeah legal is no deramper IMO, valued contributor.

All the best and happy new year when it comes

Nope, not in Russia.

One is digging for gold near GGP …

After buying, up 11% - I s that the trek effect? :

Well timed there, Trek.

I’m keeping an eye on this but will probably miss the boat! Thanks for the tip.

Should really say that differently.

GUN MCAP is half the NAV of GUNs holdings in those companies….

https://gunsynd.com/

@dia - no, not an ETF… looks to have bottomed

https://www.lse.co.uk/ShareChart.asp?sharechart=GUN&share=Gunsynd&chart=historical

@Tro …. Similar thinking to me (albeit I am keeping a close eye on GCAT. TXP is just…. Well… safe (relatively speaking).

One other one that is (maybe safe). GUN, invests in small cap miners and GUN MCAP is half the NAV of those miners… maybe keep an eye on / keep in mind for later.