Member Info for ID78

It was on the LSE website- so it’s a little wrong.

I then tried 0.7p x 1,8235mill shares and got £12.78. So it’s more like £13million.

Massively derisked is an understatement.

Assuming AISC $1250 and POG $1650 is conservative… at 24,000oz that is $9.6mill profit a year and the MCAP is near £12mill.

If we assume POG goes up (after assuming worst case above)… assume POG is $2050 then $800 profit an amount ounce and near $19mill profit a year.

Every year with a mine life > 10 years

MCAP, just to repeat is £12mill with an existing mine and production plant that is rapidly expanding. Today really is a huge leap for the company.

I don’t think he is a director.

I just saw that typo!!!

Sorry Mr McConnell

@ APG just been through the numbers and compared to what we had previously. You are correct there is an overall increase of 35,000oz in the total.

-The indicated and measured is increased by 213,000oz
-The inferred been reduced by 178,000oz (moved into the indicated and measured)

What I am a little astounded by is how accurate the initial JORC numbers were, the grade was a bit off (and that is not an issue) but the amount of gold has been consistent and the drilling has simply moved much of the inferred gold into the measured and indicated category (but with an additional 35,000oz found).

Gary Jane McConnell - you like that EMR, don’t you?!

To be fair, those shares were probably bought before today.

I think our friend in Jersey is trying to buy the whole company : )

The grade is not an issue Brainspark.

- Despite the grade reducing the gold has not reduced, they have gold enough for a mine life > 10 years …

- The gold grade is an issue for mine ecomonics but they low grade is mined by open pit and processed by HL. Open pit and HL are low cost and were not utilised by the previous owners as they weren’t as capable gold miners as these guys and didn’t really know what they were doing.

In addition the previous work to determine the resource was from a handful of drills and 234 underground chip samples. Being underground you can be guaranteed those chip samples were from the gold veins and don’t give a good picture of what is in the hill in its entirety. It’s a very local and scewed sample, if you like. Now they have drilled from the surface (over 100 holes) they have full confidence in what is exactly in the hill and a more accurate and realistic model than previously assumed using those local chip samples.

No nasty surprises to come, they know what they have, how to mine it and how to process it.

Now for the higher grade areas (Maghor, Teng Teng, Vim/Rutha) can’t wait for those results as (relative to the hill) they are high grade.

@itsyou - can’t see the cut off grade but the average grade is 1.5g/t when before it was 2.44 - I’m pretty sure they have dropped the cut off below 1g/t

It certainly sounds to me like this is only the results from batches 1 and 2.

I can’t tell you how relieved I am by this MRE, to me the risks were always

- have we got enough gold?
- have we got enough money?
- can we mine and process the gold in sufficient volume?

Well we now have enough gold for a mine life >10years when previously it was 3. This is a huge relief and can be used to secure finance which our CFO is more than capable of securing, he has done it all before.

They just need to show they can mine the ore and produce the gold now!

The mine life has trebled and is >10years based on 24,000oz per annum. Massively de-risked. A great RNS

MCAP is £10million…….

I also don’t see the point of the interview last week. I do think Robbie expected to have the EMR released and he was to use last week to promote it. Regrettably it didn’t happen. He knows what’s in the EMR and was looking forward to telling everyone about it.

I agree I do think they care.

I also agree it’s an important milestone this EMR. A bit of communication is perhaps needed.

I liked that post Jerseycrew.

I’m an engineer, I’ve worked with Airbus, Rolls Royce, BAE Systems and Lockheed Martin. I haven’t known any engineering project to run to schedule. Admittedly the challenges are different as to are the scale of the projects I’ve worked on but hitting issues, it happens, and time is needed to sort this issues. As you say sourcing parts to fix the plant has to take that bit longer for Caracal given the location.

With regards the gold. Maybe Im being nieve but each RNS has stated the have found what they expected to find. IF they hadn’t, if the hill had returned poor results then they have several high grade areas to go and drill. Would they waste time flogging a dead horse and extend the drilling in the hill by nearly 50% (at expense)? Or would they move on to the high grade areas to find the gold they badly need? If they do need funding I think I’d be getting desperate and get off the hill and drill Maghor sooner in the hope of finding the gold ounces needed.

One other thing- I’ve been in some shares that had bad results from the drill. They did RNS them immediately. I can’t see why Caracal would be different.

I can’t remember who posted this but the idea an independent person needs to approve the report in order for a Robbie to push ahead with funding - that made sense to me. It ties in with the ‘out of our hands’ email response that I think predator got. The EMR seems to be held up by a 3rd party. We just need to be patient.

Nice spot, Potter79

*part not sort…. phone bother

(my phone thinks nee is a word and not new. Go figure)

I’m not part of the telegram group however I remember someone that is sort of the group saying the selling has been resolved to a manageable level. The ex partner was not very good at figures and led to some shareholders questioning the stock. That was in May and I don’t feel the selling has been resolved to a manageable level.

I’m just thankful for our man in Jersey hoovering up many of these unwanted shares.

One day the seller has to run out of shares…. one day.

Johnson resigns … now for the EMR (please)

Are those the numbers for the 1.875km strike length?

Good post OOSM.

True, if the EMR is to be used towards raising funds then Frank whilst competent is not impartial. So someone independent validating the EMR would be necessary.

I think his time is up.

When I heard from of last nights cabinet resignations my first thought was this is the beginning of the end of Johnson.

I hope the EMR comes first …. But I am unsure if it will be first