Member Info for JerseyCrew

Thanks Zan. I agree on the transparency point and I am hopeful that future comms will reflect that general sentiment.
Interesting on the wanting blood comment - I agree many will want it but not sure how that will translate into getting production numbers to where we want them. Time will tell on all fronts.
ATB

I would encourage everyone to review their thoughts on receipt of news. Clearly timelines have slipped following OCIM's departure at the last minute and there is no disguising that was a body blow to the company. But I personally believe the Robbie is a fighter with plenty of fight left and will now be regrouping / renogiating and reappraising timelines. The ultimate goal is still there surely - increase production initially to 24K oz per annum and enlarge the resource number. So the question for me will be - how long? How long to get funding? How long to see progress towards production increases? How long until 24K oz per annum is achieved etc. I would like to see conservative estimates - I would like to see over performing against targets going forward. I would like to see confirmation of the new Chair in place and evidence of a replacement for St Brides and what they bring to the table. All of these things will help shape my future investment strategy here. In terms of the past - I am looking for evidence of lessons learned and building upon the style of the latest RNS comms which I think was a positive move in the right direction. Just my thoughts - please continue to review your own - you are your own person with your own risk appetite and needs for cash down the line. All the best.

Please feel free to correct me if I am wrong but I would have thought that the majority of the wages would have been incorporated in the AISC as a direct cost of extraction. Office and admin / managerial costs would have been part of the net profit calculation as opposed to gross profit. Obviously there will be lots of other costs in the AISC - consumables / fuel etc. Lets say we have an AISC of 1250 (my guestimate) and a POG of say 1700 to be conservative. Lets also say production for the year is 3000 Oz (250 oz per month) - so AISC costs 3K x 1250 = 3.75M and gross revenue of 3K x 1700 = 5.1M - take off AISC = GP 1.35M for expenses. Enough to keep the lights on but not enough to carry out expansion plans.
Feel free to rip my numbers apart - I have tried to be conservative on the AISC and the POG. I could be missing something though?

Great balanced post Tiburn with a refreshing and constructive suggestion for future presentation formats.
ATB

“Do not be embarrassed by your failures, learn from them and start again.” —Richard Branson
Failures come in all shapes and sizes and we have all had them - all of us. Here the company / Robbie has admitted to failings without specifics and a plan is in place we are told from the RNS to learn and address. The failing of OCIM to deliver promised cash is on another level given goal posts were moved. All the lawyers were apart from the OCIM lawyer adding the clause were caught on the hop going into a period when the Kenyan government structure was leading up for Christmas break and vastly different different time zones for communication across the Atlantic.
Coming back to Richard's words of wisdom - Robbie is not starting again here - hopefully he is adapting and changing plans to meet todays challenges rather than lamenting and gnashing teeth on what could have been. The acid test is now in what is delivered and how the company and Robbie communicates and acts going forward in it's new evolving guise.
The gold is there - the strategy is there - the work force are there and much of the infrastructure is there. Caracal is far from starting from scratch by anyones measure surely. Stay for the journey / leave now or wait until you break even. Clear choices for everyone.

Final thoughts on well being. The vast percentage of holders here will now be well underwater. Not a comfortable place. Watching the boards and the share price is very likely to spiral your mood downwards - its natural - it's also not healthy. Do what you need to do to look after your mental well being.
ATB

Stalin - you might leap to that conclusion but you don't eat the goose laying the golden egg. Too onerous and makes it more difficult to repay and grow the business. Yes the finance company will be looking to make a profit but maybe also a commerical eye to future business deals downstream - Tanzania for example or who knows - another acquisition. You never know..

Understood ID78 - hope to see you back in one day.
Cheers

If you have lost your marbles Mickey - then so have I.
Everyone here has turned into a mining expert and knows GCAT inside out and back to front all of a sudden and they always knew that Robbie was a bumbling thief that no one should trust.
Hang on. The RNS states - quote:
Philoro requested revised operational and financial plans which took into consideration this change. This work has been completed and presented to Philoro. The Company has been informed that Philoro remains committed to the financing and is working with the Company, existing shareholders, and other institutions in agreeing a financing package to replace the previous funding. The various parties involved are making good progress on securing the required funding and will update the market as soon as is appropriate.
Now I have to assume that Philoro might know a little more that the expert posters here given their access to the data room and granular details of the expansion plan and ongoing operational situation - and yet they still want to put 3M on the line and are working with other parties to help move this forward. How interesting. If it were untrue then Philoro would no doubt protest to the FCA surely?
Now I expect to be shot, hung, drawn and quartered and not necessarily in that order for reflecting on the wording in the RNS. Personally on this occasion though I take comfort from the experts at Philoro as things stand and not the armchair mining experts here. If the narrative changes then I will review my position at that point.

Shoot away but know this - I still wish you all the best as holders - as I continue to be.

Gunster - if you want to have a pop can you at least be original? I enjoy witty banter so can you try a little harder please?

When the production numbers come in, I would urge everyone to consider the stage of the project for upgrading rather than any short term SP reaction. This has been a known forward issue for months - the challenges of producing and upgrading at the same time are not to be dismissed lightly. Managing expectations here.
ATB

Welcome Jamie1975
In recognition of you replicating style from previous award winners so closely I am thrilled to honour you with the Filter Distinction. Please be true to form and post a few more negative posts today but ensure that they all have different headings - because those are the rules as you know.

For my money Legalwolf, good news will be progress. I am not expecting anything significant as that was never on the cards or in the plan to the best of my knowledge. I guess the peripheral news on the POG (1930 currently) is significant however in terms of added profitability but clearly not down to the companies doing, other than being in the right commodity.
As regards traders - frankly I think their actions have nothing to do with any news content and everything to do with trying to beat the market. The fundamentals here are clear to see and the potential is enormous but lets face it, traders generally take a short term view on other PI movements and that's about it.

Managing expectations - we will be getting a production update and that will be a big event given the delay - but I am certainly not expecting the numbers to be BIG given the work undertaken to expand production during Q3/4 and throw in Christmas as sell of course. I will be happy with progress but I am certainly not expecting big numbers and I never was. As always when we get the numbers, consider the context and direction of travel. This is mining and big picture stuff.
ATB

Predator. RNS dated 13th Jan states in conjunction with AGM. That normally means at the same time so my read is Monday but prior to the start of the AGM so the content can be referenced. Just my view.
ATB

1. POG USD 1922 as I type.
2. Caracal are a producing gold mine
3. The CEO has committed to releasing Q3 &Q4 production data on Monday to coincide with the AGM. No informed investor will be expecting significant production given they are have working on the upgrades.
4. OCIM moved the goal posts mid December for fundingr to an unachievable degree
5. CEO as far as we know still committed to non dilutive funding and has stated he has been contacted by prospective funders post OCIM withdrawal.
6. There is potentially second commercially viable prospect adjacent to existing mine - it will take time and money however to prove that case
7. The CEO is a 5% stakeholder - another director owns just short of 3%. Skin most certainly in the game.
8. ASIC circa £1150 and business case profitable at POG 1650 - see above!
9. Consider the MC at present
10. Worst case scenario is a non diluting deal can not be struck and a placing takes place. Not such a big deal when one considers many junior companies raise capital this way and if it is used to be used to increase production / profitability is that a bad thing in any event.
11. Lots of talk of trust in the CEO. I suggest waiting to see what actions are taken / what words are used and the result of the AGM and then decide whether to sell / hold or invest. Each option has it's risk and potential upside of course.
Sometimes it helps to look unemotionally at the facts and if the facts are not known, then wait until they are.
ATB

Having reviewed yesterdays post, it is somewhat disappointing to note we only have one new classmate yesterday but what a magnificent solo effort with 6 posts in less than an hour, all with different negative headings.
AAdam1
My personal favourite heading is Wipe Out - a surf dude maybe?
Congratulations on your Filter Distinction - whilst others might have thought job done, you kept at it.

….is that we haven’t had any new accounts set up today to bash the stock. Very surprising.
Looking forward to the AGM next week and some official news.
ATB

I would like to welcome the full class of Jan 13 2023. You have passed the test of multiple negative posts, each with a different heading in record time and you are to be applauded for following the programme so diligently.
King32
JacobCohen1
JacobsMother2
Guentin24
I am delighted to award you all with Filter Distinctions and wish you well in your future endeavours. I suspect we will be shortly welcoming new classes to this board but would ask they be a little less obvious as the Filter Distinctions are starting to lose their value. Your presence has however been very encouraging for the future positive direction of Caracal.
Have a great weekend all.

JacobCohen1
Thank you for being so transparent - it makes for a very easy decision.
Just like King32 yesterday you joined yesterday and have posted several negative posts all with a different heading - Doomed was particularly entertaining I thought and reminded my of Dad's Army.
Busted.
Decision - filtered.

Oh dear....