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https://www.kitco.com/news/2023-03-16/-Clash-coming-Worst-case-scenario-for-gold-in-this-supercycle-is-to-double-Wells-Fargo-is-watching-3-000.html

just the start Mickey

1940
Can't hurt
:-)

Re your comments on the HL production - that’s why I take so much encouragement from thd advanced stages of the funding discussion- I would have thought that the capability of the proposed plant would have been one of the first elements of due diligence- it’s the foundation of everything else . ATB

ID78 - you make a lot of valid comments and pose very relevant questions. Obviously only the company could answer these but in my mind I take comfort from the fact that ongoing finance discussions will have incorporated all of the points you raise. The fact that talks are in advanced stages to my mind means that the due diligence by industry experts has or is in the course of, satisfying all the aspects of the project - technical and financial - n looking forward to ensure financing can be repaid. In other words this is going to be a profitable, scaled up mine that has the capacity and capability to achieve its strategic goals.
The fact that the CEO came across in the interview in such a positive way yesterday is good enough for me at this stage although I appreciate many will want the deal signed before investing given the previous false dawn. I think existing investors who have held firm should take a lot of encouragement however from the unambiguous statements made yesterday.
GLA and enjoy your Friday / St Patrick’s Day / Gold cup race - whatever your reason to celebrate in fact as the POG remains buoyant.

Hard to think Mickey that we were at 1.01 just 4 months ago before OCIM walked. How quickly could we get back there if we had actual funds secured / banked rather than the expectation!? For those thinking this is a huge ramp, I did add in the word IF although personally I am totally optimistic on the outcome here.
POG at 1924 is helpful.
ATB

Looking at the movement so far today, many agree with you maqsood.
ATB

I am very happy as well Mickey. Robbie faced into and addressed all the challenges head on. The actions taken in terms of preserving cash were crucial to provide the time to resurrect discussions with existing suitors on the financing and there were comments about lessons learned - the OCIM debacle (OCIMs doing) of having the rug pulled at the 11th hour will not happen again I'm sure.

There were open comments about exploration being put on hold which makes perfect sense and also that the production numbers were in line with expectations for Q3&4. Personally I am expecting worse figures for Q1 given the need to regroup and reprioritise but that doesn't phase me if it turns out to be the case. No doubt some will jump all over the figures if that is the case and if they do, I would suggest that they don't understand fully the situation. As recent twitter photos show - gold is being produced and they have even broken ground on Pad 4 in preparation for a ramp up in production.

Nice back drop of POG at the moment at 1921. Not mentioned in the interview - Robbie quite rightly concentrated on covering topics that he has a direct influence over and for my money he hit exactly the right tone and balance - but thats just me.
ATB

TheMoss - don't fall into the trap of creating a direct link between market capitalisation and value of gold in the ground / mine value. The MC is a product of market sentiment (supply and demand) at the moment as much as potential and opportunity to extract and mortise in the short term as it is the underlying asset value. If you consider the MC was 4 times this amount around the turn of the year and yet the amount of gold in the ground is unchanged. The underlying asset represents the true physical security if that is what is required.

Thanks ID78 - just looking at timings I wonder whether soon after they appointed the new Chair designate who might have come in and said no way on any purchase until everything is sorted on funding and Mill End. Frankly looking at it afresh now, teat would have been my response if I were the Chairman and also RM would have potentially opened himself up to all sorts of insider trading claims. I would be surprised if he doesn't put his hand in his pocket though if and when we have a straight line officially released on everything.
ATB

Perspective is important but on this occasion I meant Prospectus ! :-)

Thanks Legalwolf - I have a lot of respect for your posts and will reflect on the rose tinted comment. I think the point I am trying to make is that whilst I agree that the perspective is important and will absolutely feature in the due diligence discussion and investigation which in tern I would imagine be conducted under an NDA, it might actually be a side issue in hand and pertinent to existing creditors but not necessarily a barrier to new creditors if the end solution is deemed acceptable, time bound and realistic. Drawdown of a new facility might be synchronised with a solution for existing liabilities and we get a flurry of news all at the same time. All conjecture and possibilities on my part and I have learned on numerous occasions that black swan events occur more often than I would wish and can crap all over my glasses! :-)
ATB

Not here to defend him ID78 but I'm just trying to keep an open mind. I suspect that buying shares would not have been high on his agenda in the next interview (but not sure which interview you are referring to) and actually he was probably prevented from mentioning at all if indeed it was on his mind as doing that would have also set hares running.
In terms of funding - everyone is saying that the mine is required as security - that doesn't have to be the case if the lender isn't asking for it or its not available and as you say we haven't had news that discussions are over, so unless we hear otherwise, discussions are ongoing.

Hi ID78 - I suspect he has been prevented from buying shares since given inside knowledge and the ongoing funding requirement and discussions. That particular point is easily explained I would think.

Funny - just checked Twitter and new pictures just posted of the Ministry of Mines at Killi for the quarterly inspection - they look happy if the thumbs up are indicative of their findings.

Legalwolf - you have stated something as fact that is actually opinion. I think it's important to position opinion correctly. Until we know from an RNS what the funding outcome is, we will not know what part the prospectus will play.
In terms of the CEO and comms. Have you been part of a large organisation trying to make a cultural change? Ever seen the pendulum deliberately swung to the extreme in an effort to kick start the change? Many organisations are still going through it with positive discrimination for example with hiring or promotion strategies to get to the required equilibrium. So when I think about this at a high level and the communications of the past from GCAT and how they have been used as a stick afterwards with the benefit of hindsight, I am not surprised that we have radio silence part from pictures of what is happening on the ground today. I am sure that in thew past Robbie might have done a media interview and alluded to various irons in the fire but once bitten twice shy as they say. For anyone sitting on the fence, I totally understand why you would continue to do that until official news. In terms of funding, as our local RSPCA fund raiser is keen to point out - there are many ways to skin a cat.
ATB

You make an important point Mickey - every company will need to do its own due diligence but the key here is that GCAT have already gone through the process before and therefore will be better prepared for the potential requirements which should help speed up the process.
ATB

Whoever lends will need to have done substantial due diligence - that takes time. These aren’t normal commercial bankers but specialist companies that need strong balance sheets and a deep understanding of the industry. Independent assessments / feasibility studies/ technical capabilities of the plant etc etc. Yes there is always a risk to lending money - the reward for the lender is the price of taking the risk but that risk is understood through thorough due dilligence. It takes time and no doubt has to go through layers of sign off within the company advancing the funds.
ATB

I think it will be the funding that enables the increase in production rather than the other way around. Bad news would be the gold disappears or no one in the world can see the money making opportunities that can inject development capital.
Look at their website and RNSs and twitters and try and understand the journey that the company has been on - warts and all.
Good luck in whatever you decide.

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It’s my version bankruptcy :-)
I think Lincoln got it wrong
I do like Lincoln’s quote about if he was given 6 hours to chop down a tree, then he would spend the first 4 sharpening his axe. Feels like a parallel with Robbie sorting out the funding.
ATB