Member Info for ID78

That is why I am invested here, iamgoldbuyer.

I referenced CORA to hint at that, nearly half the MCAP of CORA and we are producing gold :)

@Legalwolf - I should add that if Robbie is taking this pragmatic approach then funds were raised for getting the mine up and running to the point of heap leach pads.

The final step of stage 3, to get to 24,000 oz per annum, the board perhaps decided not to raise the money until they were able to show it is worth doing the mine expansion (by increasing the measured resource). As such, the fund raise in Q3, all being well, is for the final stage of expanding Kilimepesa. It suggests a pragmatic and prudent approach to the mine expansion.

All eyes on the updated resource numbers next month! I think that it should include 5200m of RC drilling on the hill. The intial intention was to drill 12000m, which has (encouragingly) been increased to (I think) 16000-17000m RC drilling. So the update next month should include approx 1/3 of the hill drill results.

Again the hill is one of 10 (I think) potential drill targets at Kilimepesa.

@legalwolf- the more resource the better I suppose wrt funding and funding options.

Or perhaps it suggests a pragmatic approach, we have 61,462 oz of measured gold at Kilimepesa. If we invest to upgrade the mine to process at 24,000 oz per annum that is a short mine life (and we have already processes some of the 61,000 oz). So- why invest in the mine to double the throughout?? I believe the board want to increase the measured resource to have confidence the money is well spent in the final upgrade to get to 24,000 oz a year.

As I said though, yes it may help with funding. It may lift the share price, or maybe it will help with an alternative route to funding (debt). Time will tell

Thanks again Ba55Man.

Off topic- interesting username. I may be well off the mark, but if I get the 55 correct, you’ll be the same as me this morning, very disappointed after last night.

To put it another way. The board need a decent increase in the resource to have confidence it is worthwhile spending on the full mine expansion… at Kilimepesa and this is why there are 3 steps to phase 3

I had previously thought the mine expansion funding was for Tanzania. However if we are waiting on the MRE updated from Kilimepesa this suggests the mine expansion is a consequence of having more ore (increased MRE) and so increasing mining capacity. This also makes sense when we consider phase 3 at Kilimepesa I think is in 3 stages. Presumably depending on how much gold we find.

So my feeling is fundraising is for Kilimepesa and Tanzania is in addition. Nevertheless, we have a mine, we have the heap leach pads and are a lot further down the road than the likes of CORA…. additional fundraising on Kilimepesa will not be as great as if we were starting the mine from scratch.

Thanks Ba55Man, appreciated

Any discussion with Robbie regarding addressing the funding question on this BB.
(Are we fully funded for Kilimepesa, additional funding needed for the Tanzania expansion?) it would be helpful to come out and state unequivocally in one of these interviews what the position is

I’ll rephrase it.

It would be helpful if it were stated no additional fund raises are need for Kilimepesa and the works on the mine.

That would put some of the speculation on here to bed regarding funding.

Maybe Robbie could address some of the funding discussion on this board during the interview.

We know he reads the boards and it would be useful to clarify if further funding (share issues) are needed for Kilimepesa.

*Whoever

Legalwolf, I think we are main market and not on AIM (which is where you do find ECR).

Is forward selling so prevalent on the main market?

However is selling they do seem to be in a hurry

A 2mill and 1mill sell, then a 3mill buy?

Also the 4 x £6000 trades (£24k in value) and that 6,000,000 sell which is double this value (£48k).

I have to say I don’t understand market manipulation but it all seems a bit odd.

Hopefully we have one seller and they are out soon. GLA

I’m newer to the GCAT party than most on here.

We all think there is a big seller (or more than one). I noticed earlier in the week block 1,000,000 and 500,000 sales. I’m assuming this is the big seller (as opposed to say a 1,032,158 sell). I don’t think I noticed them yesterday and so far, not today either.

My question does anyone know of the seller(s) take days off? Or is it a constant daily bleed of sales into the market?

Trying to hope the seller(s) have gone and it’s only retail now but I have no idea

*not velvety!!! …. Should read ‘not every’

Don’t worry Hydro, I’m not saying we are the next GGP :)

I agree I’d like to know more, but I did have a look at GGPs reports to the market and not velvety drill result was reported. Does that mean they were no good? Or did they just cherry pick the best? I do not know.

I look forward to the resource update by July by GCAT. This will include the 25 holes (2500m) RC that is with the lab and the 6 DD holes (1200m) that are with the lab.

With the drilling strike extended from 1875km to 2575km I think they have drilled about 1/4 of the strike.

SO by July we should know what 1/4 of the strike on the hill has done to the resource figures.

The hill is one of 10 drill targets at Kilimepesa?

Anything that did not state workover is complete was going to result in a small drop in share price. Production this year is still reported as the target.
I think I’m beginning to see why we managed to get an exploitation licence when nobody else can. Great manoeuvring by MB to circumvent the local issues.

Strange some people can’t recognise the leadership in place here…..

Jazbo- seems like a lot of the world is moving on, unfortunately China is still struggling to get to grips with covid.

Brel - it is strange how different people have different points of view.

What we are seeing is that it is challenging doing business in Monoglia. But we appear to have significant backing from central government, MRPA and the Ministry of the Environment.

We don’t the same backing from the local government backing. Which Matad continues to pursue. But Matad are circumventing these issues at a higher level with central government.

It goes to show MB has put considerable effort into these issues in addition to the day to day operation. I am more relaxed, not concerned, knowing what MB has achieved.

What you are describing is what MATD have doing (curiouser). They have approached land issues locally and at central government. Working to achieve a new resolution at central government shows an initiative that frankly impresses me. I’ve not been in many companies that have pushed a government like this to help the companies progress. Maybe that’s just me, maybe this sort of thing happens all the time.