Member Info for lmlom

1st train of the new year rolled in yesterday, probably moving out full later, "please move back from the platform edge" also recruitment push on, looking for experienced workers, hopefully starting to man-up for 2 HWM landing, marvelous

With respect the RNS states the opposite, 1st tranche of US$7m to be drawn on or before 31 December 2022 and a 2nd tranche of US$3.5m to be drawn down on terms to be agreed between OCIM and KPG,
so for me we have the bulk of the funds now. Which is the main issue, the details of the balance is yet to be ironed out, fine, the main point is they were happy to commit the bulk up front.

May be, but for me I'd much rather have had Nov RNS stating funding secured than an on time ops update hinting at a CR as the lights are about to be turned off. And it's not just about the funding for me, it's the type, nature, and size and Company it came from, OCIM have been on site doing DD for the best part of 6 months, to date it's their biggest funding of this type by an amount, well 3m/usd to be precise. They only do 2-3 fundings a year, previous to ours last year was 5m/usd to TRX Gold, NYSE listed and with a mc 7 times ours. As an a side they signed the deal Aug, confirmed to the market 1st Sept, and never felt the need to follow up with another update stating "we have the money" why? Because as in our RNS "secured" in legal terms means "guaranteed" laughably it comes from the Latin word securus, meaning free from anxiety.
So if after 6 months DD OCIM are happy to part with 10.5m/usd it's good enough for me to, in fact I doubled my holding on the strength of it.
Sorry but for now I'm not a Robbie basher, in the the current climate he's pulled some major bunnies out of the hat, buying two of our own drilling rigs to move things along in the back end of 2021 being one of them.

There's no legal obligation to issue quartaly operations updates, it's just a nice to have good housekeeping for us share holders, unlike a end of year audited financial report, were if your late your suspended, uppss cough cough

Yep, steady away, buys picked up over the last 30min,MMs closed the spread, bid to 27p, no sellers as yet, marvelous

itsyou, yes, unbelievable grades and very good point re underground mining, never understood the name change. Last time I looked it up they had completed a feasibility study, upfront cost over 300mil, think they have just about kicked the project off but 2025 before production.
Were as, we've two big discoveries within sight of each other, open pit-able, already mining and upgrading the proven leak pads to produce 2k/oz a month Q1 and Robbie hopes for nearer 50k/oz per annum by year end.
Bring it on I say,so may difficult boxes ticked already.

Think you might of missed the word "current" market cap, ha
Truth is I think hope I've been here before, 8 years ago on returning to work after the Xmas break I read an RNS from a company called Mariana resources, hadn't heard of them before that day, they released the assay results on the 2st two holes drilled at what became their flag ship discovery, Hot Maden in Turkey, the grades of gold were World class.
Long story short, two years five months later they were bought out by Sandstorm Gold, a cash and share offer that equated to £1,06, I was averaged at 12p, I sold for 96p as at that time I was with the Halifax and Sandstorm shares were listed on the Canadian or USA market eith way you could not hold them in my account.
My only regret was only buying 20,000 but it was a struggle to find the 2.5k and it left me over exposed.
I've been looking for another gold play with similar potential ever since, not that Gcat are going to be £1, crumbs there's enough people ramping it with out me adding, but Marl did an 8 fold increase in 30 months, I think and believe Gcat can do the same over the next 3 years, so sp circa 5-6p.
In the current climate that's a return very hard to beat.
Hold for Gold, perfect storm on the horizon, loads of bulletins on the Web now bigging up gold, and as sure as moths are drawn to light the heard will help push it up.
GL

News? Two months ago today gold was 1616usd/oz its currently 1856usd/oz that 240usd increase has added 312,000,000usd to the value of the "jorc compliant" gold reserves at Kilimapesa, jorc compliant, this is what enabled Gcat to secure such a good funding deal from OCIM. They haven't yet finished drilling at Kilimapesa, it is still open at one end, they are back drilling there shorty, with our own rigs and drilling team. Some say what has Robbie been doing, I say an absolute stirling job.
Don't even start me on Vim Ruthas potential. At some point the penny will drop to a wider audience as to full value of the gold they have.

No, you've summed it up quite nicely, ignore the usual bb bs is my suggestion, it's what I do.
Hold for Gold

That's a very interesting read, so coal transportation issues is not just a BEN problem, hopefully it will ease and a more normal service will be the norm going forwards.
The main point of interest for me is their history, born from a bankrupt company in 2015, sounds familiar, but even though they have been plagued with a strike for the last 18 months thier share price holds at over 34usd that equates to a current market cap of 1.8 billion dollars, now that's food for thought, Happy 2023 All, and here's to a very prosperous 2023

HH, with respect, if they only make 130usd a tonne after costs, and as Addam has alluded to there's a big swing in profit as tonnage increase, with the 2nd HWM on two shifts we should hit circa 75,000 tonnes a month, that's 10,000 000usd clear priofit, I've had a good look and carnt find a company making that much profit a month with only a 80m USD market cap. If anyone does please post and I'll put a chunk in there also.

They might well separate them out for clarification, but the RNS states "the Group generated sales of 17.4million USD and that for me is the value of invoices paid and not value of coal shipped.

I think, but I might well be wrong, all cash generated is basically from the invoice payments from selling the coal, yes the spot price is on paper higher, but there's transportation costs, so we ship a tonne for argument sake and its worth 262usd, they agree on the price but pay us 200usd after their costs in running the trains, cash in/genarated ie back to us is the 200usd,not the full face value of the coal.
For me the RNS is what I expected for the period it covered, there was a lot of non mining work going on and further expenditure. The next 6 months figures will start to reveal what a cash cow this business is.

Not withstanding at the end of the period we had 5,000,000usd of coal sat on the group ready to ship to the spent 15,000,000usd on our own mining fleet and 10 000,000usd is
38,000tonnrs of met coal at todays market price, with one HWM we produced 43,000 tonnes in November, 2nd HWM on site next month, by which time Addsms chest will be sore, jogg on

The permit for the new area was granted on Sept 22nd, RNS 2888A, On the 26th of October RNS 0984E confirmed the bench for their HWM was complete, at this time they were still relient on, on site contractors to complete ground work, since then this type of work has been brought in house, safe to say the bench for the 2nd HWM is not a problem, it's probably complete already, I think if trains weren't an issue it migh have been on site before year end, it's just a waiting game now, all the blocks are in place, like most builds, the slow part is getting out of the ground, things then tend to move on pretty quickly, 2023 will be here soon enough

Me too,,,, the truth is, the progress made on site in the last 12 months is nothing short of staggering, I think there are a fair few investors on here that think and believe the same.
Going forward into 2023, at some point to an ever wider audience the penny will well and truly drop, marvelous. GL

Yep, by the end of Q1 2023 they'll be pumping up production for sure :)

Not wishing to hijack the thread, and I might be at cross purposes but if your referring to drilling rigs, Robbie purchased two DD and RC November 2021, they have akso constructed their own assay laboratory, all to help fast track progress and efficacy. Some people moan about monthly gold production and slipping time lines, but the amount of work and progress made over the last 12 months has been amazing. He is laying the foundations for a significant and efficient gold producing company, gets my vote and money.
As the old saying goes,,, stronger the foundations, bigger and more stable the build.

So, one HWM plus underground mine in a shortish month have produced met coal to the value of 11,021,000usd at todays relatively low spot price, its a cash cow of a company for sure, and that's without the 2nd HWM, here's to a very prosperous 2023,

Senta, nail firmly hit on the head, well summed up, for me, time to think of issues closer to home, solid foundations are cast, it's a sit back and enjoy Bens Creeks resurgence into a billion USD company, Adams words not mine, that said if you do the maths, plenty of dyor, and watched the last Roat podcast, it's very much on the cards,