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Just an Kili...

"Such is the scale of the potential that is beginning to be unveiled at Kilimapesa that the team have far greater ambitions and are considering rejigging the whole project to really optimise the project which could well target some 75,000 – 100,000oz pa. "

"if its anything like the trenching we would expect a fair bit of visible gold to be showing up ahead of assays getting back from the lab confirming the widths and grades" - Yep, we saw one example in that RC hole.Big plant unused down the road -"Caracal expects to be granted the licences for the Nyakafuru Gold Project in Q1 2022, which will allow work to begin in earnest on an updated Feasibility Study which is expected to provide all the information and data on which to make the final investment decision in H2 2022. Previous owner Resolute Mining was looking at a rather grander 1.7Mtpa scheme based on a shallow open pit. The company will be seeking to develop something slightly smaller initially at 1Mtpa, but this does have the benefit of coming with a much shorter development time of around just 9-10 months. Everything is available onsite as Resolute set up an exploration camp. As for processing, as luck would have it just down the road is Barrick’s 4Mtpa project which is on care and maintenance at the moment, which might provide some additional highly attractive options going forward. "

Suggins,
I think we both pick up on the same things! ;-) "WAS"

A couple of other bits, without posting too much text, but more in there.

"WAS boosted to a run rate of 1,000oz by the end of December 2021."

2nd Ball mill IS being refurbished to increase to 1,500oz pm :-)

"To boost production from the current level will require the mill to be shut down for six weeks to install a second ball mill which is currently being refurbished in Nairobi. During this period, mining would not be stopped as ROM would be stockpiled, waiting for the processing plant to recommence operations having been upgraded to produce
1,500oz per month or 18,000oz per annum."

2022 estimate "This results in a profit for the year of £5.341 million and earnings per share of 0.286p."

No idea, but they clearly wanted viewers to see the middle tray and the shiny stuff on the quartz. Not just a speck either(gold is only visible above ~30g/t)

Suggins,
I'm guessing at 007, based on the style of writing for the depths. Looks like 3 numbers and can't be over 10 as would see the 1 in the middle. At what point did they move to the Hill?

sample 54 looks very shiny. No previous mention of there being Pyrite at Kili either, so can't be that.
zoomed in : https://ibb.co/c6XD87z

Suggins,
As I mentioned last week, it must be part of defining an Open Pit(OP). Subsequently Jason came out and mentioned OP on the Hill in his interviews and that we would find out more soon.

We've had a few Twitter pics to help us. First the Geos sampling on the Hill, then Trenching on the Hill, then Bulk Sampling(used to look for OP potential) and now RC drilling to define it at depth and along strike.

https://ibb.co/Xk1P5gW

"The reduction is expected t0 boost social-economic growth

President Uhuru Kenyatta's order on the reduction of electricity tariffs has finally been effected.

In a statement on Friday, the Ministry of Energy said the first tranche of 15 per cent has been effected upon gazettement.

In his last Jamhuri Day Speech at Uhuru Gardens, Kenyatta Nairobi, the Head of State said the reduction in power bills was in keeping with a promise his government made to Kenyans to cut the cost of electricity by 30 per cent by the end year, even as he instituted radical changes at the power distributor.

With the new plan, the cost of power will go down from Sh24 per kilowatt to Sh20.4 by end of this month.

This is expected to decline even further by another 15 per cent to Sh16 per unit by end of March when the second phase of the reduction will be implemented. "

https://www.the-star.co.ke/business/kenya/2022-01-07-uhuru-delivers-15-power-costs-cut-promise/

AG,
Obviously a long time ago when the plant was inferior and only produced a concentrate.

Now they go even further with their onsite Elution plant and pour gold bars. Those get shipped to Switzerland for refining, but Kenya wants to refine it's own gold and is building refineries in country.

https://allafrica.com/stories/202108050360.html

Lot's of recent comments by GCAT regarding Open Pit feeding the Plant.

We know about the current underground mining on the Kili Hill and have also had comments about an additional HL Operation to expand production, but not much detail about Open Pit Mining on the Kili Hill.

We have seen them doing bulk sampling on the Hill(Twitter pics on 3rd, 10th and 21st Dec), which is done to test for Open Pit potential, but haven't heard the results.

If they can get an Open Pit on the Kili Hill then this would reduce costs substantially, compared to the current Underground Mining feeding the Plant, but also it can be fast tracked into operation as any potential mineralisation is already within the area of the Mining Licence.

Now today we get a Twitter pic showing the RC Rig has joined the DD rig on the Kili Hill and appears to be drilling in the same location as where they did the Bulk Sampling.

https://twitter.com/caracalgoldplc/status/1482966615541043201?s=21

Yep, they've hit mineralisation(6m?) and shallow(13m by the looks of it). The hill comprises of multiple veins, so they'll likely hit many separate intervals. Pic taken Dec 26th.

As usual Stock Box ones are always the best

https://www.youtube.com/watch?v=2pCiAt2NkHA

AG, 30mins in

https://www.youtube.com/watch?v=k5r9AOfZoKA&ab_channel=Proactive

"new CFO" ...they never had one
https://caracalgold.com/about-us/board-of-directors/

I think Robbie said the 2nd Bal Mill needs to go to Nairobi and would take 3 months to do.

Not forgetting the install of the 2nd Ball Mill, which was acquired by the previous owners and was onsite, but never used.

Needs refurbishing though, which Robbie mentioned before in an interview. Apparently the 2nd Ball Mill is identical in capacity to the one currently in operation.

https://za.linkedin.com/in/riaan-lombard-10215234?trk=public_profile_samename-profile

Caracal Gold (GCAT LN)# Caracal Gold (GCAT LN) has announced the appointment of a new General Manager and a CFO strengthening its senior management team with experienced outside hires. With a larger asset base and further growth and development ambitions, strengthening the team is a logical step in ensuring that GCAT can execute its strategy successfully.

Riaan Lombard has been appointed as General Manager of the Kenyan Operations overseeing optimisation and expansion of the mine as well as Project Director for Tanzania. His previous experience includes as Chief Operating Officer of Kahl Group (Namibia); Global Head of Industry – Mining for Louis-Dreyfus Group, Operations Manager at IAMGOLD’s Rosebel Gold Mines in South America. He also worked as General Manager at Kenmare Resources’ Moma titanium mine in Mozambique and Mining Manager at AngloGold Ashanti’s Semos open pit gold mine in Mali. Paul Reeves joins as CFO having previously been Financial Controller at Thor Exploration and as part of the Finance team at Endeavour Mining. Other relevant experience includes time at Ausdrill, Macmahon Contractors and for AngloGold Ashanti.

We reiterate our Buy recommendation and 4.2p/sh. target price.

New Broker?

Novum removed from the contacts at the bottom