Member Info for ID78

I don’t really want to get into a big GGP discussion, I looked at it at 40p and backed off within seconds due to the mcap.

Genuine question as I never researched further. How much gold has been found? And what share is GGPs?

He must be reading JerseyCrews posts :)

Undervalued? Let’s see.

1.3mill ounces gold. Vim rutha and the additional hill results should grow this beyond 2mill ounces.

$10mill funding
£13mill MCAP
AISC $1100 / ounce
Gold $1700 / ounce
2000oz a month production by March = $1.2mill profit a month
All the time looking to drill and grow the gold resource

Wishbone gold
MCAP = £13mill
Found copper, little gold
No production, no mine, no funding for production.

Undervalued- I’d say so

Fantastic to get this news, finally, and as stated, this restores faith in the team.

To date Robbie was excited about the drill results on the hill. The updated MRE backed up his excitement.

He was excited about the finance package and as commented on here he has done well to deliver this financing.

He is excited about Vim Rutha which he calls a new discovery. He talks the talk but backs it up with results. I’m excited to hearabout VR.

We’ll done Robbie and everyone at Caracal, you’re doing a great job.

Well spotted, so $450,000 in shares when the SP was 1p(ish)… and the exchange rate 1.38 $ to £. I get 32mill shares ($450,000 / 1.38 = £326,000, at 1p a share = 32,600,000 shares). This means they had roughly 136.4mill shares.

so Goldplat instead of having sold (roughly) 1/3 of their shares have maybe sold (roughly) 1/2 of their shares as they have 66.3mill left.

Thanks for positing Dan

@Zan - precisely, Robbie told us what to expect, he was managing expectations and so I’m really not paying much attention to the production numbers. Maybe Q4 2022 will be more interesting, maybe not, it’s Q1 2023 that I will start to pay more attention.

@Trek, certainly makes you think the POG has to react positively… so gold is a good place to put your money.

@Jerseycrew - rational, realistic as ever. We can only judge on the gold produced at the end of the mine expansion in my opinion (Q1 2023). The Q3 figures are the figures 6-9 months prior to the completion of the mine expansion, and so I’d refrain making any real call or decision based on them. I’ll pay little attention to the gold produced numbers from this quarter, but will want to see progressive change within the plant towards the end goal 6months from now.

All the best

@Dan, if I remember correctly you may be a chemical engineer? If so you’ll have a better grasp than me but perhaps the low grade / recovery rate is as you say the fact the mined ore has made it’s way to the heap leach pads and there is a lag between loading and unloading the pads. So some of the ore was still being leached? This then skews the numbers somewhat. Did we find out if it’s 30days or 60 days the leaching process?

Ultimately, though, the reporting could be clearer

X tons ore mined, ave grade of whatever.
Y tons processed via CIL, resulting in Y oz gold poured.
Z tons loaded to the heap leach pads, with detail of what has been unloaded and poured and what remains loaded on the heap leach pads.

I gave up on going through the numbers as there are too many unknowns. Aprogerson and yourself have made some cracking by attempts to unravel them…

All the best

According to RM they are fully funded.

Bebeto, you know as much as I do. Only Robbie and the board know, but going by what he has said we are fully funded so no bridging loan.

@bebeto- no, not if we are fully funded.

Wait and see.

Listened again

- expanding from 500oz to 2000oz per month fully funded for this expansion
- no long term debt
- to date invested over $30mill and need $15-20mill to complete the expansion

- Ph1 Tanzania complete and another project in the pipeline

- (then again) fully funded for expansion
- couple of processing plants on site
- the money we are raising and spending now is going into heap leach, sorry, the money we have raised is now going into heap leach
- 2 open cast mines and 1 underground at Kilimepesa
- the big heap leach pad is in construction now

So heap leach money has (previously) been raised and is being spent. To fund the mine expansion will cost $15-$20 mill but they are fully funded for this. Where’s that coming from? I’d expect this funding to have been announced to the market…

Right, enough from me for one day. GLA

I’m just venting some frustration today, always appreciate the posts JC, same with legalwolf, Aprogerson, DanC43R (and others).

& legalwolf, I think he say ‘ we are fully funded’… I’m going to have another watch of the his presentation .

I agree that it would be an act of total desperation to attend looking for funding to keep going. And given Robbie’s bullish statements it would appear that is not the case. But here we are nearly a week after Frankfurt with no funding RNS. Maybe I’m short of patience today.

90% of me thinks it’s all good. 10% is thinking why no funding RNS, why no exploration update?

The exploration side does not concern me, we already have a viable mine and exploration can only improve that position. It’s just frustration that we are still waiting on news and December is next week.

The funding is more worrying, he said last week they have funding. If the money was sitting in the bank then I’m sure it would be announced by RNS. Even signing the contract would be RNS-able. So this is where the 10% doubt comes in. Robbie thinks he has the funding, but we don’t have an actual RNS to back it up as he doesn’t have the money and has not signed the contract?

Time for one conspiracy theory- could the lender of the funds have a clause that gcat can not release the news for say 14 days after the contract is signed? I think that is not possible as individuals could load up on shares cheaply (insider trading)…. I wouldn’t think that would be allowed..

To me the 2 remaining risks were funding and being able to mine enough ore. I’d like to chalk off that funding risk formally. Please Robbie, let’s start that news pipeline…

Silly comment, I’m sure our largest shareholder has a not direct way of asking Robbie any questions he wants answered.

Yes, it feels like the funding is as very new news last week, and the blurb we are referring to at this weeks conference is out of date.

I still can’t draw a conclusion form goldplat selling down. I here what you say about selling at the wrong moment, a point of inflection but we don’t know how badly they needed the funds and for what. They perhaps expected 2000oz by about now and had planned to invest the money till bow(ish). Now they need the cash.

As you say legalwolf, hopefully some investors are present in London- there is a question is anyone on this board going? I wonder if Mr McConnell will attend..

Same message Robbie, can we get some news please?…

To be clearer;

‘He's telling one mining conference that the funding has already been raised. Yet appears to be telling this London conference that "we are seeking to expand both production and resources, we are seeking investors to participate in the exciting growth opportunities by funding our strategy"

This did stick out a bit to me

@legalwolf - I noticed that myself….

On admission Goldplat held 104mill shares.

Between 31st August 2021 and October 28th 2022 they reduced their holding to 80.5mill.

Then between 28th Oct 2022 and 18th Nov 2022 they reduced to 66.3mill (ie in 3 weeks).

So they have almost 2/3 of their shares still to sell, and really it looks like they have just started selling.

So who has been the ‘big seller’ if there was one…

No doubt some posters will see this as a bad sign that they now look to be selling, and in a hurry. As stated by other posters it’s pure speculation, we don’t know if the funds are needed (in a hurry) for other things by goldplat. You really cannot know the reason for selling up.

The only conclusion I can draw is that goldplat were not the ‘big seller’ we all were talking about months ago.

Now Robbie, if you please, Friday is the 25th Nov, a month till Xmas, by which time we were expecting 2000oz a month. That’s has slipped, by 3 months, and that’s fine, projects do slip. However we have in turn been told to expect lots of news and been told there IS financing. 4 weeks till Xmas, can we start getting some news out please?

- Funding

- Resource upgrade - at the very least the hill, those numbers have been known by you for months now and were expected in the MRE upgrade back in the summer!

- Q3 gold production / operations

The news rich period mentioned a few weeks ago has been a vacuum with only a few weeks to the end of the year, I expected a bit more.

@go_ly_dow

Sounds about right to me. Another thing that sounds almost sensible is whatever funding announcement Robbie mentioned is likely to happen next week once the audits accounts have been digested (by whomever Robbie has approached for funds).

At the end of the day the share is out of suspension. Onwards and upwards, hopefully.

Hopefully we get some news next week. GLA.

Yea ve said it before there’s been some cracking posters on this board. Yourself included LW.

You always had an eye on the funding question, quite rightly so, and you kept asking the questions, quite rightly so again.

Looking forward to the ‘non dilutive funding’ announcement that Robbie mentioned only last week.