Member Info for itsyou

1,800 per QTR(600 pm), is far from the 1k per month they constantly boasted they could do in 2022 without the funding they have been trying to get.

Did anyone ask why so many Director's and non Exec's have resigned, yet the person at the top responsible to govern corporate compliance and those below, should be responsible IMO for all the shambles and non compliance with regulatory processes?

For the time as a non shareholder, but previous one, I await the prospectus which will show the true number of shares in issue and the true market cap. Then wait for that overhang to clear, knowing that it's likely that a lot of those shares issued will be old parties described in the the RTO prospectus.

Still can't believe they are mining and processing ore based on sole sampling and trenching. It's no wonder that knowledgeable gold investors are not invested here.

GLA

The future "high grade" ore they are processing cannot be guaranteed as no resource drilling has been done on it, but more importantly has had no feasibility study on it which is needed to understand future grade of the material they are digging out.

Much better wording in the RNS though and no additional nasties being declared.

JerseyCrew

"The new high grades will presumably come into the equation in some shape or form?" - Not without any drilling. Basics not being done here.

If I've lost you, you maybe need to read up on the path to FS(Bankable Feasibility Study)/finance.

1) Early exploration Geofizz/soil sampling/Geo chem/trenching

2) Exploration drilling

3) Resource drilling

4) JORC compliant resource, done by an external company

5) Internal scoping study

6) PFS

7) FS

The "high grade", "visible gold"(to the naked eye by definition, not zoomed in on Twitter!), "Open Pit" has only met number 1 of the above at best. What kind of financier would agree terms on such limited information? Maybe the Chinese, but you wouldn't want to get into bed with them as the financial terms would IMO and based on previous transactions would not be good.

But as you said, the previous JORC where drilling has actually been done will be taken into account by any financier. Hopefully they won't be pushing the "high grade" zone to the financiers, as that IMO would be a huge red flag to them.

But there's always a price, as has been show by the company resorting to loan shark finance with Mill End.

JerseyCrew

"the independent mining plan is something that the funding company will no doubt require as part of it's due diligence" - This is what's called a Definitive Feasibility Study by independent consultants, which amongst many other studies, uses the JORC compliant resource and block model to come to it's conclusions. A funder will require this as you rightly say.

So your later comment about it not being published " Maybe we will get to see the plan " will not be the case. All DFS studies are published to all.

However, Is the independent mining plan based on the "open pit" "discovery", which has had no drilling done on it, so it cannot be a feasibility study.

Any funder surely cannot fund the expansion based on guesswork and just soil sample/trenching and not a single hole drilled?

SW10000,

" the FCA has a very long back log at the moment due to staff shortages which is impacting other shares."

But it's less than 3 weeks until the 1 year anniversary of when they started work on the Prospectus!

RNS 3rd August 2022 : "Work has commenced on production of the prospectus, which will be published as soon as practicable, subject to approval by the FCA."

What is the FCA not happy with?

So many shares being "issued" without their authority. Maybe that's the reason, but nearly 1 year to do a prospectus isn't right. So many shares owed and not issued is IMO going to create a large overhang when the shares do come to the market. That's only if the FCA are happy.

Watcher " they're supposedly churning out two smelts of 4 to 5 kg of gold" - Not quite, 4 or 5kg bar, but based on previous Goldplat data the purity is 75-77% gold for the Dore produced, with the remainder being silver.

More shares "issued" without actual approval to issue them. Never known a company like it. What corporate governance?

That 250,261,168 is just for the Tanz acquisition and doesn't include shares owed to :

- Mayflower(150m),

- Owed to ex directors(37.5m)

- Part of the Mgt incentives where some criteria was met(part of 152m)

- Conversion of the 2 x £2M and 1 x $2m of CLN's to Orca

Suggins,

£482,155

09/11/2022

"On 3 August 2022, the Company paid £343,308 as part of the final consideration for the purchase of Tyacks. The final payment of £482,155 is still due to be paid These amounts have been accounted for as a deferred consideration creditor in the accounts."

There is also another lot of shares still waiting on the prospectus to be approved

12/08/2022

"Admission of a further 116,927,834 shares to trading on the Main Market of the LSE remains subject to the publication of a prospectus. Work has commenced on production of the prospectus, which will be published as soon as practicable, subject to approval by the FCA."

Nearly 11months they've been working on this prospectus!

So with today's number of shares, gives a total of 250,261,168 to be issued when the prospectus is approved.

It's a good job they are not listed on AIM, as would be in breach of rule 26.

https://caracalgold.com/shareholder-analysis/

Yeh, GKG and RL not being paid will save a lot, as their base salaries were :

Technical Executive Director, Gerard Kisbey-Green - £150,000 per annum.

Director (Chief Operating Officer), Riaan Lombard - £160,000 ($180,000) per

Unfortunately with the COO and TED leaving, plus the FD(which was not RNS'd), it only leaves RM, the Chairman and 2 non exec's left. Shouldn't the buck stop at the top?

APR, you beat me :-)

Wasn't the corporate governess review all about the non reporting of CLN's taken out without RNS, RM and GKG using their shares as guarantee to Mill End without PMDR share notification and promising hundreds of millions of shares(still awaiting issue) to people where they have no authority to issue without a prospectus(still overdue) ?

So what has that got to do with RL who was COO?

Or maybe he was the one that suggested that the company could bypass sinking even one drill hole and feasibility studies that are normally required with this recent high grade open pit discovery. Then gamble by processing this ore through the Mill without truly knowing the extent of it(no drilling done)? Or maybe this was someone else's idea and he didn't want this to tarnish his CV?

lebugue-addick,
"If you look at the Newcrest updated mineral resource estimate for NCM/GGP's Havieron project on 19 August 2022 you will see the same type of statement"

Not true, as there was not a competent persons comment in the "Increased Mineral Resource estimate for Kilimapesa" RNS on 17/07/22. Nor was the word JORC used in the Title, Resource summary or the CEO commentary.

The big red flag was also the not inclusion of the JORC report at the bottom of the RNS, which also differs from the link you provided from a Newcrest RNS where there is one for all to read.

Serious gold investors want to read this stuff. They came, then they went.

Folio,

Try reading the balance sheet first and the current liabilities, which are double the current MCAP.

Legalwolf,

"RM did say February initially, and then in March"

No, he said September 2022 initially and still everyone waits! Although previous management said months before that, assuming that was to cover the CLN from March 2022.

8th Aug RNS :
"Work has commenced on production of the prospectus, which will be published as soon as practicable, subject to approval by the FCA."

12th Aug 2022 RNS :
"Admission of a further 116,927,834 shares to trading on the Main Market of the LSE remains subject to the publication of a prospectus. Work has commenced on production of the prospectus, which will be published as soon as practicable, subject to approval by the FCA."

Absolutely shocking issuing shares without FCA approval!

The prospectus is required for them to comply with "regulatory compliance", as per todays RNS. i.e formally issuing the shares they have promised, which should never have been promised without FCA approval of a prospectus for these shares. These include :

- 150m shares owed to Mayflower(prospectus)
- Management incentives(prospectus) part of the 142m criteria ahs been met
- 116m for Tanz acquisition(12/08/22 rns) - which is probably why we here nothing about Tanz as it's still not fully theirs yet, if the shares still need to go to the vendors.
- 37.5m for former directors(03/08/22 rns)
- CLN for £2m to Orca(22/03/22)
- Loan note Instrument of £1.2m to Mill End(21/06/22), with interest of 133.333% of the principal to be repaid by 150 days(still not paid)
- CLN for £2m to Koenig(18/07/22)
- CLN with Orca for $1m(16/01/22), with a further $4m that can be drawn down.

NoelShempsky,
False accusation? I said nothing of the sort, it ratified my original thoughts of you not just wanting to be proved right!

Pot and kettle spring to mind with with your constant "I was right" posts and then wanting to tell the world that you were, instead of waiting for praise whilst the tumbleweed blows ;-)

Another medal muttley?

Lol NoelShempsky, give yourself another pat on the back!

Someone's got to I suppose ;-)

JC, like I said I could be wrong, but as I posted on the 28th March the brickwork looks different. I also pointed out then it could be from an earlier smelt, but I can't remember them ever pouring 3 bars, but could have missed that also.

Here's my pic again, showing the full image posted from 21st.

https://ibb.co/NNQTR6w

Like we've all done with there Twitter pics, zooming in has led us to speculate on a number of things.