Member Info for ID78

*one acres should read land access

Flipping phone!

I should add, I think velociraptor had huge potential, so possibly one of your 50% pre spud SP rises for next year :)

I think this boils down to do they have funds to drill Vel. If so they may gamble on raising funds off the back of a successful drill. If not they will issue more shares to drill… seeing as they didn’t get Heron into production due to one acres they may just have the cash in hand..

Certainly good news on extending the velociraptor exploration licence to 2024.

Heron on the other hand remains up in the air without land access. Genuinely I think this will be resolved - but you have to be prepared to buy and sit and wait for however long it takes. Spring 2023 is mentioned however MB is just giving a date and has no idea. To do that it makes me wonder if he wants to push up the SP, so a potential fund raise. Who knows, but a lot of talk about exploration and that will cost money… so my guess is they are looking for more money.

Certainly for me one to watch.

Thanks again Dia and I’ve glanced at the chart notes, good work. Been a hectic weekend for me, hopefully have more time next week

Not sure this link will work, if it doesn’t the news was on marketscreener

https://m.marketscreener.com/quote/stock/CARACAL-GOLD-PLC-28742457/news/An-unknown-buyer-acquired-an-unknown-minority-stake-in-Caracal-Gold-plc-from-Gold-Minerals-Resources-42402991/

Ohh and MATD - need the land access issue sorted. No point buying before then. Of course, that means missing the biggest gain but we have no idea when that will be sorted out and if there will be fund raising in the meantime …

I think GCAT will do another spike on the resource upgrade, then the new year depends all on if they hit 2000oz. It is a big if, but that is It’s the price it is.

The 12 spuds idea really has caught my attention, so yes I will post anything I find!

BSE looks intriguing 26% dividend paid in 2022. 75% of shares held by 5 investors?! Thanks Troajan, I’ll do more looking into this.

He1 - still unsure there!

Anyone got a view on TXP? SP has drifted back, news due Jan or Feb and could do 50% … also this is a pretty safe one, with upside potential. Always wanted in but always had funds tied up elsewhere!

Oh one more post on GCAT (I apologise), but in theory with the infill drilling they really know that hill much better than before and so they (in theory) know where to be mining the narrow veins.

….. in theory

He1 - thanks for the posts, food for thought however I’m still not sure what I will do! Part of me thinks you can’t really lose out at 8p - dia I will look for your post late yesterday, thank you.

BSE - I will take a look but don’t assume I know that much more than you dia! I do like your last post regarding 50% per spud, 15 years, etc. Needs good self discipline to ignore the noise (other shares where you could mess up)- but I like the idea!!

MATD - I had my eye on this before investing in He1. I was not so aware on the land access issue. Its a difficult one, however delays could continue for years for all we know. Then there is the issue with how China are handling COVID. MATD could be a great buy, or it could stagnate until/if the land access is resolved.

GCAT - The narrow veins will affect things however the ‘mine expansion’ does not just mean increasing processing capability, it’s about expanding the mine to mine more ore and this is where the 3rd risk (execution and mining enough ore) comes in. There is a very experienced team there, but also there is Vim Rutha. The hill is low grade ore. They’ve clearly found something at VM, which is nearer the processing plant than the hill I understand. So even if they are being ambitious with mining the ore from the hill (narrow veins issue), higher grade VR ore should help boost the numbers. One last comment. I think goldplat averaged 800-1000oz a month. Adding the heap leach and expanding the mine I don’t see why they can’t increase to near 2000oz. But I could easily be wrong.

There is another gold share, BMV that has a fair bit to go but I’m watching.

BSE- thanks Troajan, I’ll take a look.

Did I pick you up correctly you’ll wait to buy HE1 or did I totally misunderstand?

Well done with your gcat trade this week.

*trying to figure out

And thanks for posting, appreciate the responses

I don’t blame the ADV CEO, I too think he was genuinely confident. I was fortunate in that I sold before the result. HE1 taught me not to hold - even a 94% cos drill.

Talking of He1 I’m not invested but do plan on trading the drill. Did I understand Troajan correctly - he wouldn’t buy now (during consolidation of the breakout?). Trying to fluffier out when to buy and I’m thinking my procrastination will cost me!

@dia2belts, I’m no expert in mining. However there have been some very good posts going through the (production) numbers. Some very good posts about finance, legalwolf was quite concerned initially and rightly so. More lately Bebeto. I just feel the quality and variety of posts has been pretty strong.

Anyway, my take is simple. The risks were

1) is there enough gold (I think initially the measured resource in the hill was a tiny 64000oz. This risk is gone, there’s enough for a 10 year life of mine and more than likely more gold to come.

2) finance - positives, they produce gold, but nothing significant, there was already plant in place reducing CAPEX but they did need more money. They now have that, and non dilutive, so that’s a second risk mitigated. Also by bringing in heap leach the cost of producing the gold is really decent (low AISC).

3) can they do it??! Can they mine enough ore and put 2000oz a month. In other words can they execute the expansion and production. As with any of these things it’s not a sure bet. But given they mitigated risks (1) and (2) delivered the proof of concept and now gold production by heap leach - well - why not. Sure it could all go horribly wrong but I think a lot of hard work and successful steps have been taken so far that suggests it’s a good team. Sure there has been a delay in hitting 2000oz a month but this could have been delayed waiting on finance. Even if it didn’t I just can’t get excited about a 3 month delay given everything that’s going on.

My final thought is obviously inflation and price of gold. Seems a good place to put your money.

Time will tell.

We’re you ever invested in ADV? That 94% chance of geological success ( sure bet ) shows nothing is certain. That’s why I’m happy to hear any contrarian views. Clifford, however, I can’t take seriously.

Dai2belts, Curious to know what makes you think holding GCAT in the new year is not a good idea.

I don’t give Clifford’s comments much credence, but happy to hear your thoughts. Contrarian views are useful at times.

I think I said the other day, the funding repayment will be in a way that is affordable to GCAT. If it wasn’t GCAT would go bust and our lender would fail to have their loan repaid.

I’m quite sure the repayment terms are not an issue.

I won’t be looking into the numbers at all.

I will be interested to hear what mine upgrades happened between July and September.

Very curious to see where the SP ends today.

On the chart Tuesdays news broke and finished about the SP downtrend.
Wed low retested that trendline and closed just above it.
Yesterday was a nice bounce off it, so looking strong.

It really does look like a proper break out at long last, not surprising given Tuesdays news being a real game changer and signal to buy.

I think OMIC see where the price of gold is going and expect a better return on their investment than a ‘small discount to the spot price’. Whilst building a relationship that gives them further options to provide funding in the future that is mutually beneficial to us and them.

Trek, thanks for that cracking post.

WSBN and TXP look like good prices to buy and I knew you have an idea about both of them, thanks for taking the time to respond I really appreciate it.

You were also in He1- have you any interest in trading it again?

PXC I wasn’t aware of so thanks for making me aware, I’ll take a look.

One other share that caught my attention is BMV, good (again!)… looking to restart mothballed mines in South Korea. They are behind gcat in terms of they need permits, then to work a proof of concept then they will need financing. However, the team have done this sort of thing before very successfully and have £2mill of their own money invested. I think that’s ok I can offer in return I’m afraid m.

Thought I’d post here and not GCAT. 2 quick questions

- Are you still invested in TXP?

- You’ve been in and out of WSBN twice. I don’t rate it as investment but do you think there’s a 3rd trade possible?..

Jerseycrew … ‘you bmv a bet your life’.

I see what you did there :)