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Personally can’t buy any volume on my platform currently- that’s a promising sign.

Agreed Bani - 2 independent parties effectively should give a high degree of confidence to investors going forward.

Yep - bid and ask moving upwards.

Great to see another chunky purchase at 1.75

How about 1.8 + for the end of the week?

Zak's comment this morning on there news:

It would appear that shareholders of GCAT have finally reached the Promised Land, and in a way that is probably rather better than they could have wished for. Indeed, the gold price is up significantly since the company has been fishing for a partner on Kilimapesa.

The promised land indeed!

Hi SW - I think we can safely assume that the HOT is signed given the wording:

Caracal Gold Plc, the East African gold producer with over 1,300,000 oz JORC compliant gold resources, is pleased to provide an update and announce signature of a binding Heads of Terms ("HOT") to fund the Kilimapesa expansion project from a strategic investor.

Announce signature is good enough for me and I think that Robbie will have learned lessons from jumping the gun in the past.

100% agree on Minopex - part of the DRA group which is massive. We will be in very safe hands and removes key man / personnel reliance from within the GCAT managerial team.

Interesting thoughts Apro - I guess much will depend on optimal plant capacity and whether an increased production can be justified when considering any potential required Capex. If funding is justified it would also come to a decision between placing / debt (loan as per the terms of this announcement) / royalty funding. We have just entered into a whole new ball game here with this strategic partner - clearly they have deep pockets and given their vested % interest now in the company, it will also be in their interest to leverage their influence and fund raising capabilities for the good of the GCAT group. The positive possibilities here are very exciting when you consider the big picture now.

I have always been a Robbie fan - I have never hidden the fact - I think he has played a blinder of a hand here.

SW - they will have 35% at the end. What was your question by the way?

Cheers

for balance, i for one am waiting on your detailed explanation sono***un as to why you don't think this is good.

there have been some thoughtful and balanced posts so far today, backed by explanation.

i have reread the rns as per your recommendation - thank you - it's looking even better to me on a second and third read.

over to you..

Thanks Apro -I agree - this replaces the royalty stream funding.

I don't think that it actually has anything to do with the audit but it certainly should help with investor confidence when the audit its released and we come out of suspension - I am expecting the audit to be heavily caveated in terms of ongoing viability because of lack of capital - this funding announcement has effectively answered the exam question before it has been asked.

Hi Apro - I always read and value your posts - just one question please - given the funding just announced are you referring to additional cash injection or just getting all of this new funding over the line?

ATB

Haha - didn't see your post Hodgeyd but 100% agree

Lmlom - yes yes yes!

Something which has not been highlighted yet is this paragraph..

As part of the work to be done for the Kilimapesa expansion project, the Company has engaged Minopex (a DRA Global owned company) to carry out a review of the expansion project. Minopex will provide an updated economic assessment and comprehensive technical report for the project and then follow through to execute the expansion on behalf of the Company. The Company also plans to engage Minopex to manage the operation of the processing plant and laboratory.

So the company are outsourcing the operation for processing and the lab. What does that allow Robbie and the managerial team to do? Focus on the big picture and exploration in particular - this is a hugely positive step in my view. Just look up DRA and the expertise that they will being to the table. An increase in the AISC of course but very much worth it in the big picture play here.

sono***un - i have read and digested the rns. what is your point?

what specific aspects do you think is bad news here please and importantly what would you have preferred to see?

lets get into the detail.

ID78 - my take on your questions - cost of expansion - I think that it was mentioned at some point (I can't remember when exactly) that the original numbers quoted were obsolete - some works had been done and the actual plan had changed as well. you would have to think that the investor will have done their own due diligence in ensuring that the amount is sufficient at this point in time.

I would personally love the company to go toe to toe with PKF - but if you sit back and think about what that would entail it wouldn't be worth it. Time and the managerial distraction and not to mention bottomless legal fees with a questionable outcome and if judgment went against the company they would have to probably pick up PKF legal costs as well..... not a commercially justifiable course of action in my view.

Not only are the lights still on - they are about to shine a lot brighter.

Hopefully the doubters over the last few months will reflect and learn.

This funding is what we have been waiting for to move forward with the expansion plans.

Well done to Robbie and the team in acquiring finance in a difficult market.

Onwards and upwards.

Next stop audit completion.

Nice purchase announced after close - I was expecting a sell. Just when I think I am starting to get a handle on things I am made to realise that I haven’t got a clue. I’ll stick to the fundamentals of the business I think!

I know nothing about betting - is that 33/1 at the moment?

There are only 2 sells posted so far today 1.65 and very small amounts. But you can't sell anything of any size at the moment before going to NT but you can get instant quotes to buy relatively large amounts. All points to a large sell order in progress or MM games - time will tell and maybe in late posts tomorrow. Mildly interesting as we wait for the really interesting news on the 3rd JV!