Member Info for itsyou

Thanks for the AGM feedback Adam.

I also see our auditors BDO have been very busy dealing with issues with another UK company(REVB) the last 6months. Looks like this is taking up a lot of their time.

Similar to me AOTG6, although only sold 1/4 of my holding in the .90's and a smidgen over 1. The other 3/4's were dumped on the bell last Tuesday.

Not reporting the CLN's at the time of issue and then reading about it in the AR changed me from a LTH, to a STH and made me angry. Surely investors should have been notified at the time they were taken out, as this changes the financial situation of the company, so shareholders were buying blind of the Wonga interest rate CLN and the other to Koenig(same MD as Orca) with a huge number of Warrants attached. Why did they owe £2m in shares to Orca as well? Could never find out why; maybe the Koenig one paid that off, seeing as companies seem related.

But we don't know what else has been taken out since the AR, or even repaid/settled. They could be hiding more, we just don't know and trust on them revealing information had been lost by me.

I also feel investors were mis-led, as the wording of the Kili scoping study RNs on the 21st Dec didn't have the word "conditional" in it, which had been in the 29th Nov RNS. Just had "With funding secured from OCIM and Philoro". That made me think the conditions had been met, but now we know from the Stockbox interview was that the extra conditions were raised on the 16th. So surely the RNS 5 days later should have kept the word conditional in it?

Then the shares owed, but not listed yet in the AR(Mayflower, Orca, Mgmt incentives) and the RNS' dated 3rd and 12th August and that's without taking into account the 2 CLN's. Are they allowed to have shares owed which haven't been approved in a prospectus? I guess they can, but would be interesting to know.

Won't post again here, so I'd like to wish all shareholders the best and hope for them that it is me that has made a bad decision, having taken the hit here. GLA and more importantly good health!

29. Events after the reporting period
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.

"On 18 July 2022, the Company entered into a Convertible Loan Note Instrument with Koenig Vermoegensvermaltungsgesellschaft MBH (“Koenig”), a company incorporated and registered in Germany, for £2 million at an interest rate of 8% per annum. The conversion price being agreed as £0.06 per Ordinary share, save that where the price per ordinary share falls below £0.06, the conversion price shall be 90% of the 10 day VWAP price of an ordinary share. 266m warrants were also issued to Koenig, at an exercise price of £0.0085 and are exercisable for 2 years from the date of grant."

https://caracalgold.com/wp-content/uploads/2022/11/REPORT-AND-FINANCIAL-STATEMENTS-November-2022.pdf

I'm guessing this may have been taken out to cover the £2m owed to Orca, as both companies share the same MD.

An updated status of both CLN's(never RNS'd - Grrrr!) and their closure, would make me a shareholder again. Can't invest in companies with CLN's, especially ones that don't tell you they've taken them out at the time!

GLA

Imlom,
Snap was in MARL for quite a few and was my first post here on 17 April 2017! Now those where grades and widths which I'll never see again! Two systems merging to create an astonishing deposit.

Had to be an underground mine though and not Open Pit because of the Topology and not forgetting the not talked about graveyard over the deposit!

Weird why Sandstorm renamed it to Hod Maden.

This years resolutions 9 & 10 are identical word for word with resolutions 7 & 8 last year.

To only allot £1.65m of shares get's my vote, especially with them securing $13.5m financing without issuing a single share. Just imagine what that dilution would have been!

Hopefully some of the cash they've secured goes to pay historic monies owed.

Trek,
I don't think the info email address is ever monitored. Use Robbie's email in the presentations.

In addition to that filing, today the Group also filed their accounts to Jun 22 on Companies House, although they did it on Global Filings 2 days ago.

Not a bad today today to drawdown on finance at a secured Pog of $1815 for the duration of the prepayment, which is $165 above the scoping study number.

That's the way other previous OCIM deals have been done, with them probably forward selling the Gold at a higher price, thus making their margin. Futures market : https://ibb.co/9nwbXmF

On that thought, the conservative HL recovery number used of 46%, which they stated they're getting 10% higher, will no doubt be even higher once they add the planned crushing circuit as part of the expansion.

APR,

https://find-and-update.company-information.service.gov.uk/company/13072031/filing-history/MzM2Mjk5NTMzN2FkaXF6a2N4/document?format=pdf&download=0

legalwolf,

This has been covered before and you re-listened; RM was talking about the expansion not the drawdown.

Haha Trek, I read both of those RNS' as well :-)
"potential" parallel gold system, but they're only doing field mapping atm, which is the first phase of exploration. Soil samples should also be taken with a pinch of salt; the Geos will always select the shiniest samples.

No it's not - 1ppm = 1g/t

There are a million grammes in a Tonne

Guessing the 93m is after OCIM and Philoro get paid in gold. Would make sense as an IRR of 114% is less than a year payback, where they quote 2years here, which probably includes the payback of gold.

Suggins,
Yeh, just my view, not a fact.

Suggins,
Forward selling gold also means that OCIM and Philoro can access the Futures market and sell that gold at a premium to today's price. It's currently $1865 for Dec 23.

See my screen grab of live prices : https://ibb.co/hmjXPqd

They may well sell those ounces per month over the period ahead of the deal, so acting like a bank making the margin between savers and people wanting loans.

That's how I reckon they make there money, not much of a discount to spot on the day the funds are drawn down, which although not mentioned yet is the way OCIM do it from what I've read of previous deals. It also provides a hedge for GCAT as Gold is sold at that fixed price over time, in case Gold falls.

It's there

"Well done to the Caracal team #fullyfunded#gcat#OCIM#Philoro. Vim Rutha results and Kilimapesa project economics this week
8:39 AM · Dec 12, 2022"

https://mobile.twitter.com/MccraeRobbie/status/1602221551067316226

Gold Minerals Resources Limited is a subsidiary of Goldplat.

Robbie recently talked about getting the Lab accredited for independent verification, however I think the main purpose of the lab will be for grade control drilling during production to ensure their supplying the correct grade as per mine schedule. Plus obviously used for QA/QC to prep exploration for external lab verification.

But would be great to do the independent external verification onsite, to save both time and money. That would be another tick in the box for the preparation of setting the building blocks for the future.

Looks like Bebeto's forgotten about the sustaining capital that is being spent on plant upgrades and the plant downtime while Plant 1 and Plant 2 were decoupled, in order to enable the expansion to 2k pm

Then making up his own numbers and stating them as facts. What a waste of a Saturday!

Yep, agree RP, could of gone the other way.

Or swapped to feed Plant 1 or 2, if more economic to mine and process(Grades and widths dependant). Or a bit of both would make sense. Maybe blended ROM feed.