Member Info for Iwonttell

You are a cretin, sir.

Bebeto.

It would be of interest to me to know just what your legal and financial qualifications are.

Your opinions are so concrete that I feel you must be qualified to state the things you do.

For instance, how do you know so much about the FCA and what they should do, may do, will do?

Yes, this is a discussion board, but you seem to negate anyone’s hopes for the future here.

I have a considerable sum (for me) tied up here. You may be correct in some of what you post, I assume you are qualified, but I don’t like all this negative theorising on your part.

If it is not fact, only opinion, there is too much of it.

JC.

Nothing wrong with being an optimist, but this ping pong match when none of us know what’s going on I find quite tiring. Take a lesson from the recent US debate, and stop being baited.

Let us make clear what are opinions and what are facts.

I for one know nothing of what the company are doing or what will transpire, but I do live on in hope.

One thing I do know is that we all want the company to get back to mining and to make some profits.

No, no, no, no, no.

Please not more crap Harry.

Change the record, please!

We know you are still hoping for a ‘duster’, harryC to vindicate all of your former negative posts.

JC

My point was that they have $500,000 first tranch, same to come second tranch and $350,000 from the license issues.

Surely that is enough to get this started again, at least to get some money I and not just going out.

The outcome of the recent well testing seems to have provided dual outcomes.

Talk of nobody wanting gas now is rubbish and should be ignored.

The testing has added further proof and data regarding the oil potential of the Paradox basin and confirmed an abundance of gas and oil condensate.

It has also opened up the intriguing possibility of expanding the production capabilities of the earlier wells utilising the acid wash treatment.

Thus the whole potential resource available has increased and been further proven.

However, a lateral drill will have to be made to take advantage of the full potential of the reservoir, or the well can be exploited now for ready cash income, at the risk of either complicating or ruining the chance of drilling a lateral in the future, due to reduction of pressure by pumping oil from the present well.

So the well has been capped and thus there is no immediate benefit from the well.

Recce

The RNS seems to have been a partial attempt to ‘obfuscate’ the picture, as other posters have pointed out. Perhaps the reason for the poor response to the news.

The well seems to have initially high pressure thanks to the acid wash, but this will probably decline rapidly. Inevitably the lateral will have to be drilled to open up the whole reservoir. If the well is put into production to produce income now, then this will put the lateral and future income at risk by creating uneven pressure levels. Hence the well has been capped and will not at present produce oil or money. Add that to the need and costs to connect up to the existing pipeline, and there will clearly be further delays awaiting further potential production outcomes.

So it’s good news bad news. The RNS did state this but not as clearly as a layperson may have wished.

Obfuscation?

R2D2

They have more chance than Man U.

Bebeto

Thank you. Interesting information.

Are you saying that the resource is not worth the effort mining.

If that is the case then the company should declare insolvency and close down.

However, if that is not the case then they should re-commence mining, and quickly.

There seems little point in discussing a return to the market if they cannot get any gold out of the ground which is what you seem to be indicating.

Recce

You are obviously fascinated with the word obfuscate.

You should really learn to read peoples posts thoroughly, and not just twist what has been said to suit your posting purposes.

This is the second time I have had to correct you, naughty boy.

Hope you have looked up the meaning of the word now, but don’t expect any thanks for the lesson.

Buen fin de semana from sunny Andalucia.

Harrycarter

Instead of happy clappers dodgy crapper.

Always the first to put CHAR down.

What’s the story?

I anted to top up today, expecting a big sp rise at ZPHR.

Turned out a damp squib.

Will have to wait for more funds from somewhere.

This looks too good to be true.

Then why are there two posts?

I thought we would see a serious rise with good news, not just a fraction of a penny.

Still underwater having bought before the drill and it’s ‘success’.

I believe that there are still traders selling out from the placing.

Probably been hoping for an bigger sp rise and disappointed

HC.

You post a lot of unsubstantiated crap.

Silence and more silence.

Is the sidetrack producing oil?

Is the original well producing oil?

Is any oil being pumped and if so how much?

Are the accounts ready for publication?

Will the company be coming out of suspension?

Is the new pump installed and working?

I could go on but what’s the point?

Don’t need an RNS, just an update on social media would be welcome.

Silence!

The discussion on when suspension may or may not be lifted is irrelevant at the moment.

GCAT is a gold mining company that has stopped mining.

Whatever the costs of starting up again, they will have to be paid whether it’s 2024, 2025 or 2026.

Can the company survive until 2025 or 2026 without getting gold out of the ground in the meantime is the question that should be occupying us all.

From my point of view, the date for any return to the market and the possibility of trading shares is far less important than a return to mining.

What money the company has is being used to pay day to day expenses and there is no income coming in. This is a disaster and will lead to financial collapse.

GCAT is a mining company, so logically they should be mining while they have investment monies to hand and the income from the resolution of the mining license issues in Tanzania.

They have to start mining again at some point or go out of business, so why not start now.

So for me, the price of gold is very relevant, and I wish that they would start processing some!

I have to confess that I do not understand the undercover machinations that may or may not be going on.

I just find the current situation ridiculous.

A company stops trading.

It may or may not have any value in its assets and holdings.

Any other valuation is ephemeral.

Many investors have varying sums tied up in shares that they are holding.

No information whatsoever is forthcoming from the company directors.

Shareholders seem to be content to accept the situation in silence.

What can be done to resolve all of this?