Member Info for ID78

Fair comment, Legalwolf.

I’ll look forward to your post once you’ve had a more thorough look.

You posted an article about someone that is not on the board of this company and suggested he is on the board.

Come on boom, as I say at best you are looking a bit daft as you were previously told he is not on the board, something you could easily check before posting… I’m afraid you do look like you are up to no good here.

Ahh that’s why the vastly superior CORA is so appealing? They don’t need to fund the exploration, proof of concept, mine development and processing plant. They sold a cow in return for 3 magic beans and I guess all they need is at the top of a beanstock.

I sure wish we had some magic beans.

Finance news is imminent and Robbie expects it to be well received. No magic beans tho :)

Oooft, thanks for letting me know about Gordon MacRae. Good to know. As soon as I find a company where he is on the board I’ll give it a swerve.

You’ve been corrected multiple times on here boom, Gordon MacRae is not a board member- your posts are misleading and the fact you continue knowing that your posting wrong information is looking a touch desperate.

Full marks for trying but you are beginning to look a bit daft (at best).

The hill was always low grade RELATIVE to Vim Rutha, Maghor, etc.

Looking forward to the additional resource from the hill and also (very much Vim Rutha).

One thing, Vim Rutha I expect to add quantity however I’m not sure they will have drilled enough holes to have add quantity and quality (ie adding to the inferred number. More drilling will be needed to add to the indicated and measured). But, as is often is the case, I could be wrong.

CORA gold are drilling for gold like GCAT. However, CORA have
- no production
- no proof of concept
- no idea of AISC
- no money previously sunk into mine development and processing of ore
- no funding for mine development (which will cost more than gcat given the point above)

Ultimately there’s a whole bunch of questions to be answered before it could become worth investing in. GCAT is exploring for gold and developing the mine and production simultaneously. If you find another gcat let me know, Cora is unfortunately still learning to crawl whereas GCAT will soon be start running…

No, I have to say I missed that swampy, I should maybe listen to the interview again. It was refreshing to have the real questions asked and answered this week and not just a re- telling of the story.

Only 2 months till 2023…

One other thing. I read Robbie’s salary is £75k, I don’t know about the rest of you but I expected it to be higher. So the big pay day for Robbie is in making this work and growth in the company and share price.

I don’t really post on here anymore, but I still look in and read the posts.

When I first invested the risks (to my mind) were

1) having enough gold for a viable mine
2) funding and dilution
3) execution (being able to mine enough ore for the heap leach and the CIL plant)
4) POG

After drilling the hill Robbie the updated MRE meant there was enough ore for this project to be viable- with more results to come.

Someone on here posted that more shares could not be issued due to the number of shares already issued, and the fact we are not aim. This led to my being more relaxed about this risk and it was fantastic to hear Robbie directly address this question this week.

Jerseycrew posted a few links that helped alleviate my fear of the POG, and the fact central banks are busy buying….. well it says it all really.

The suspension this week was initially unsettling however I like how Robbie answered it ‘the auditors are working hard with the previous auditors to answer these questions - so the issue is that immaterial the previous auditors were not bothered by it?! And if the auditors missed it Im we can forgive the team at Gcat missing it.

So #3 - can they mine enough ore. Just need to wait and see but so far this team have delivered everything they said they would and ‘at pace’

2 observations.

1) talk of Vim Rutha being a second discovery. Nothing about Maghor, so I guess there isn’t much at Maghor? To be honest drilling Maghor first confused me, Vim Rutha had a considerable strike length and seemed the best target to me (after the hill). I am excited to hear what comes from it.

2) 2000oz to be hit during Q1 sometime, so the date has slipped from by end of 2022, possibly by 3 months. So be it, I’m not going to get my knickers in a twist over that. Projects can slip, up to 3 months is not considerable and given what has been achieved ‘at pace’ so far and with loads of news to come between now and the end of the year….

Good luck all, and I am thankful again to the quality of posts on here.

Ohh one last observation. Jerseycrew, you haven’t averaged down. There goes my theory over our investor in Jersey with the deep pockets!

If they have moved from Maghor to Vim-Rutha then it suggests to me (as they now have the 10 year mine life) they are trying to drill the entire prospect quickly to raise the inferred value, then return later to improve the quality (raised the measured and indicated figure). Anyone else have a view?

I wasn't expecting much from Q2, steady as she goes then.

*grade

Robbie at no point (that I remember) has made this comment about being conservative with grace and recovery rates.

I’m not question Riaan, the numbers ran to date by APG proved what Riaan is saying. However I like how Robbie goes about his business ( hopefully ) underpromising.

‘We have been conservative with our recovery rates and gold grades’

I think we suspected as much- nice to hear that from the horses mouth.

Talk again of 48koz if all goes well….

I agree with your expectation of the update timing, JC

HUM released an operational update today.

20,000oz sold, at a price of $1851/oz. Very good!

AISC was reduced (very good!)… but to $1859/oz

Sounds challenging

The way I see it

- GCAT have more total gold
- once the higher grade areas are explored the total gold and grade will be higher for GCAT (at Kilimepesa alone) than Cora
- GCAT are generating money to help pay with expansion
-mine expansion will not be as costly as CORA set up costs to allow them to start to generate cash
- GCAT are moving at pace

That’s without considering the country. And looking at the heap leach numbers (and I only glanced at them for CORA) they look ambitious and might not produce what they think. That is IF they get funding.

Not for me, Cora is too risky in comparison to GCAT

And me too!

Yes correct on all 3 points

- dropping the cut off grade doesn’t mean we see the same increase in gold oz (it was just interesting to see for that prospect)
- dropping the cut off grade is useful in increasing the MRE but it’s if the average grade is low then the cost increases (produce less gold for each heap leach)
- Curious that 70% value isn’t it, looks like you’re estimate is just about right to me

I’ve not really dug into their numbers, tbh.

I saw that this morning. Also worth noting that whilst they have a few prospects, they have one MRE of about 900,000oz and a MCAP £16mill. No mine.

APG- you may wish to look at their latest presentation. Slide 26 actually stated cut-off grade and what that does to the total god in oz.

1.0g = 513oz
0.8g = 603oz
0.5g = 779oz
0.4g = 809oz

Of course, what they have in the ground is not what we have in the ground but it’s useful to see.

There is a slide suggesting 1.5Mtpa Heap Leach, recovery 70% producing 45000oz.

CAPEX £20.6mill

Lots of detail