Member Info for ID78

Thanks suggins

Nothing about when to expect the MRE?

*Wasn’t able to tune in.

I wasn’t about to tune in- was there anything about the EMR

That is a statement that can be taken one of 2 ways

- higher grade regional areas (ie higher grade than the hill)
- or the areas in the region that are higher grade (as opposed to other area in the licence that are lower grade)

I find myself trying to read meaning into it then I have a quiet word with myself and just wait for the data as it comes (eg MRE)

The drilling on the hill was extended from 1875km to 2575km. If the grades ok the hill were not good enough would you invest additional time and money drilling the hill or move to one of the other higher grade regional targets?

To me the action on the ground supports what Robbie is saying and the MRE delivering what is needed to support 24000z a year.

We just need to wait on the parties involved (external companies) doing their jobs

A bit of perspective might be useful. A considerable amount of work has been done in a short period of time.

You also have to keep in mind Caracal can’t control how long the lab takes to do their job. And is the MRE also prepared by another company? Essentially it is a bit out of their hands if waiting on other companies.

It is a bit annoying that a presentation released only last week still stated the MRE is scheduled for the end of Q2, but it can’t be that far from being ready and the progress to date by this company has been at a significant pace.

I can wait a bit longer for the MRE if I have to.

:)

I found it very useful, credit to JC

@giovs are expecting the updated gold numbers (MRE)

Jerseycrew posted this, it might be worth a watch…

https://www.youtube.com/watch?v=Zs3R-fzqL7I

@Giovs- by end of Q2, so tomorrow

There has been a consistent seller or sellers for a while which is why the SP is where it is. The CEO bought a decent chunk at 1.04p (£42k) so if he is confident then so am I. The seller(s) will run out of shares one day.

Also going by these numbers the average g/t drops significantly

170078t x 2.4g/t = 408188g
753922 x 1.11g/t = 836853g

(408188 + 836853)g / 924000t = 1.35g/t average grade

Again I just think slide 11 under promises on the gold figures. Hopefully we get the MRE tomorrow

ATB

Hi Gregg, yes only plant 1 is high grade.

So if you reverse engineer the calc for the 24000oz numbers and assume a 80% recovery factor and a grade of only 2.4g/t:

Plant 1 gold = 10,500oz x 31.1 / (0.8 x 2.4g/t) = 170,078t of ore

Plants 2-4 will process ( 924,000-170,078 = ) 753,922t

Assuming 50% recovery, to get the remaining (24000-10500=) 13,500oz then the grade is only 1.1g/t which feels very low to me.

753,929t x 0.5 x 1.11g/t / 31.1 = 13,545oz

To achieve the same 24,000oz- if the grade of gold at plant 1 increases the gold from plant 2-4 must decreases (the grade drops lower than 1.11)

I feel the numbers are conservative. The average grade of the gold in the HL and tailings is only 1.11g/t. It gives credence to the cut-off grade dropping below 0.8g/t which does help push the total gold resource even higher which is obviously good.

One other thing. If plant 1 processes 170,078tonnes that is 477tonnes per day, ok so close to the 500tpd we know it can handle.
Plants 2-4 are processing 753922 tonnes, plant 3 is a 20kt HL plant and can process 240,000t per annum. Plant 4 is either 100,000 or 120,000t (my notes are confusing me), assuming 100,000t this is 1.2mill tonnes per annum. So plants 3 and 4 can process 1.44mill tonnes and are to take 753,922t. That’s not considering plant 2.

There is plenty of scope to increase the gold being processed if they can mine a large enough tonnage.

In summary slide 11 seems very conservative but perhaps points to the cut-off grade dropping below 0.8 g/t and that will help increase the gold in the MRE…

Also, slide 11 they state 582,500 tonnes of ore for 15,000oz.

582,500 tonnes x 1.6g/t x 50% recovery factor / 31.1 = 14984oz

I know, higher grades, higher recovery factor for plant 1. The point is this suggests, conversely, lower grades for the HL than previously assumed.

I still think the numbers on slide 11 seem very conservative to me even if the HL handles a lower grade of ore than previously anticipated.

Reducing the cut-off grade due to HL is a very good point. So does the average grade (currently 2.4 g/t) then drop but the gold (oz) increase?

Slide 12 of last weeks presentation, did anyone look at the scale of the 3D block map? It didn’t go very high. This would support the low grade theory.
However, the veins will be higher grade and I’m not sure it showed this. There were a couple of cross sections shown, I’d like to have seen one of these isolated with a better scale (starting at 0.5 and increasing to 6 or 7g/t).

We will know more soon enough. Again I can’t see them going to the expense of commissioning the 3 additional al plants if the drills have not found enough gold in the hill to back up that decision.

Yes- you are correct

Wishful thinking maybe :)

Nearly 4.8% of the shares in issue. Bet there is no TR1.

Still… 5% to a better home. One day closer to the seller has running out of shares

@RPdard- so it does… I also see the same slide still suggests Vim Rutha is target #1, Teng Teng is target #2 - not mention of Maghor.

@RPdard- I think the initial 12 holes are to validate or to plan mote intensive drilling activity at Maghor. I can’t see there being >100 holes drilled in the hill and 12 at Maghor.

The hill strike length ended up a little over 2km. Maghor strike length is 1km but could expand as there are additional veins to the west and the Soiminin prospect to the east…

My calendar still says Thursday for end of the month :)

Yes most of the gold in the JORC that can be increased in quality was on the hill, most of the inferred gold was on the hill, red ray held far less…