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Some really good posts on here today, fantastic read.

Reference the cut off grades, I understand that they plan to release a revised assessment of the cut of grades and remodelled JORC after the release of the results of the exploration work and hopefully decent resource upgrade.

Looking further ahead to Q3/Q4 I understand that they will be looking to release a preliminary economic assessment'PEA' for the additional licence areas.

I understand Robbie will be communicating more detail about this very soon.

I cant wait for this personally as I recall from one of the presentations that this 'PEA' should be instrumental in setting out the case to increase the production output to 50,000oz+ p.a.

I suspect the PEA report will most likely include the economic case/requirnent to take on some term debt at that stage (this would presumably be phase 4 which is undoubtedly what Robbie has previously referred to in the interview.

That PEA should be one of the major catalysts coming this year alone that moves this to a 100m+ market cap business.

Ahead of that... First up, we have the Assays and exploration results to look forward to that should kick of the incoming re rate for shareholders.

I read it that the next 5000tn is in the Second lift which they state has been completed and under irrigation within 14 days.

Which would leave 30,000 stockpile?

The first of the heap leach plant modules has clearly been a success and with more modules to come on stream, this will increase production further.

With a planned additional 3 heap leach modules, gold circuit enchantments and then an additional mill coming on line, its not difficult to see the route to doubling production from here.

The recent additions to the BoD have all arrived from either Tier 1 or Mid tier mining companies which is a credit to Robbie that he has been able to attract these high calibre individuals at such an early stage in the journey to rapidly scale this company up now.

Crazy cheap atm

Priced like an explorer, but generating positive cash flow from Gold production.

Presently trading with a PE of below 1.

Makes GCAT the cheapest entry into a gold producer on the market.

No equivalent producer offering this value, hence why some compare to pre production explorers.

For e.g. CORA trading at 23m market cap and two years and 24m debt injection required ahead of their first production.

GCAT should be more correctly priced in line with producers like Shanta and AAZ by this stage as we will be producing 50,000+ oz by then and market cap should be 120m+

GCAT is a low cost producer driven by low cost regional labour rates, low cap ex production expansion. Recent expansion is confirmed as both ahead of schedule and budget on last update.

Lots to like and significant upside on offer as both Gold resources and production rates continue to scale up.

Should be several strong few weeks and months ahead now for Caracal with lots of anticipated updates due to come in to highlight the rapid progression being achieved by the team.

Looking forward to updates on the following:

Assay results.
Resource expansion
Q1 Production figures
NSE listing
Next stage of the modular plant upgrade
Production increases.
License expansion
Kilimapesa hill open pit commencement.
Tanzania Gold fieldwork program
Nyakafuru & Nyakafuru Reefs JORC Update
Simba - JORC update
ExistingJORC remodelling (taking gold under licence past 2Moz+)
Further exploration zones mapped out.

GLA

@APR

An excellent summary

Just at the beginning here, with recent appointments to the Senior team at Caracal with vast experience joining from the likes of Barrick Gold, Shanta Gold, Rio Tinto & Endeavour Mining a new CFO now in place.

The company is building the right foundations to see us progress rapidly towards the ambitions of becoming a serious regional mid tier operator.

Agreed

Very strong.

Might we be seeing price of gold push through $2000/oz this week?

Perfect timing to be increasing our gold production month by month as we have been.

Looking forward to the assay results from the recent exploration drilling program as the junior gold sector looks to be just starting to warm up.

Trading at a severe discount to fair market value here by any reasonable metric so I'm looking forward to seeing Caracal start to close the valuation gap to some of its sector peers over the coming weeks and expect the general sector overall to continue to see inflows as we have witnessed across various other juniors in the past few weeks.

Plenty of upcoming catalysts due to land that should spark of the long overdue re rate.

GLA

What do you think Costa?

If they end up with the same amount of shares % holding and have been able to realise the cash equivalent for the incentive milestones being achieved its all imaterial as these were contractual awards.

I'm happy they have been paid out. Signals that we are well on our way with the rapid increases in production.

And Gerald K-G

They have obviously sold them out.

As mentioned previously, I've got no issue with it.

These were contractual payments for meeting the targets.

Caracal can now focus on moving towards 24,000pa and then onto 50,000oz pa,

During this rapid growth phase we were always going to trigger these incentive share payments.

It's a fair reward for the work achieved over the past few years and to hit the milestones whilst still in phase 1 is very good news.

We still have 3 more modular pads to come on stream with each one increasing production further.

Then the gold circuit enhancements and then 'the big one' as Robbie called it which is the expansion of the mill circuit which is understand has now been designed.

All looking good and happy to be in at ground floor valuation.

Decent volume seen in the past week and a trend increase seen in volume overall this month YTD.

We know that the fundamentals are excellent here and the production data being released is now backing up the projections made at IPO.

They are making rapid progress and now up to circa.1200/oz p/mth priduction has clearly triggered that last tranche of the share incentive payments which looks to be chewed through in an orderly fashion this week, so not surprised to see the that some of the beneficiaries of the incentive shares moving on now that they have been paid out in full.

Good early signs of improving technicals not seen for a while.

50-Day Moving Average 1.02
20-Day Moving Average 0.98
10-Day Moving Average 0.96

Now trading above both the 10 DMA and 20 DMA are short term bullish signals.

Last few trades were at 1.02 which is the 50 DMA.

Any kind of positive update now from Robbie should be sufficient to see us flying past the 50 DMA and then it should be clear blue sky ahead for the SP.

With a long list of multiple catalysts ahead, volumes picking up as folk are starting to take positions ahead of the anticipated news flow.

Fair value here should be multiples of the present market cap and with the last of the incentive shares being cleared.

The brakes are about to come off.

Had the same situation over at KEFI where I was happy accumulating through the chun over there in the 0.70's.

All of a sudden, the seller had nothing left to sell, the brakes are off and the SP was up 100%

Same situation coming here imo.

GLA

No need for me to set the case out on here for KOD or GCAT as both are probably better discussed in detail on their bb's.

I've put my thoughts on the GCAT bb today and i posted my views on the KOD bb a few weeks ago when it was oversold at about 0.25 and said it was a good entry at that price.

Next security report and update to Ministry of Mines at the end of the month/start of May..

I'd that's all looking good and work has continued out on site with no issues should see the next leg up here.

Yes, HUM now up over 70%+ from its oversold position

Expecting similar here.

And we have plenty of catalysts to see that happen.

Agreed Mickey

This was tagging 1.15p yesterday just on a bit of volume as folk started to position ahead of the Easter weekend with assays anticipated next week.

Can see the MM's opening this up much higher and the SP running up to 1.60 - 1.70 on decent results just for starters.

Plenty of updates due here:

Assay results.
Resource expansion
Q1 Production figures
NSE listing
Next stage of the modular plant upgrade
Production increases.
License expansion
Kilimapesa hill open pit commencement.
Tanzania Gold fieldwork program
Nyakafuru & Nyakafuru Reefs JORC Update
Simba - JORC update
ExistingJORC remodelling (taking gold under licence past 2Moz+)
Further exploration zones mapped out.

Expect this to get very busy here after Easter

GLA

There were production milestone incentive shares for hitting various monthly production target 300oz / 600oz / 900oz & 1200oz

With the latest update regarding the first module of the heap leach plant being well ahead of schedule and budget, I see that as confirmation that they are now delivering at least 1200oz per month production and with that will have triggered the final tranche of these shares being issued.

Once these have worked through, there should be no real selling pressure after this period and there won't be a tr1 for the shares sold as the incentive shares were newly created alongside a further tranche which was to pay out goldplat.

The fact all the incentive shares have been created, and paid out demonstrates we have hit all the production milestones and we are only in the completion of phase 1.

Excellent news imo as there are at least 3 more heap leach modules to add in to increase production alongside a further ball mill and we should also have increased feed coming in from both the expanding underground operation and new open pit zones.

Excellent news imo.

Robbie has always stated they are building the company towards becoming a serious mid tier operator.

We now have Geo's & Management on board who have joined from the likes of Shanta Gold and Barrick Gold and further recent BoD appointments who have exceptional regional and international business experience and connections.

These are exactly the right types of moves that I would have expected to see as we pivot from being an eager young upstart into a rapid growth, multi district, multi million oz producer with a focused senior team set up to deliver aggressive expansion and growth both across production amd resources under license and in turn the significant share price appreciation I expect to ser play out over the coming weeks and months ahead as all the updates are released to market.

I have added some more today at these bargain levels ahead of expected news.

GLA

I can see this gapping up significantly on these hotly anticipated assay results if confirming a new Gold extension and open pit zone.

With price of Gold flying

Perfect timing for Robbie to release the news to market any day now.

From one of the last sharetalk interviews Robbie mentioned they will be releasing an updated investors presentation after the official release of results.

Expect FOMO to kick in tomorrow

GLA

As Mickey said

Anyone selling will be buying back 100%+ higher.

Game on now for multibag gains from here.

GLA

@Ray

Have you picked up some GCAT this morning yet?

100-200%+ move on the cards when next updates lands.

Just warming up over there now.

GLA

1.08p PAID

ticking up nicely here.

Remember ORCA capital were very happy to take 10% of GCAT at 1.25p

If you can get some below the institutional investors that always feels good.

Expect the broker target of 4.2p to be revised much higher if we have confirmation that we have hit a new gold discovery zone at Kilimapesa Hill from all the recent exploration drilling that will contribute to a JORC increase, extend the LOM and provide further feed towards the 50,000oz Gold pa production (from Kimapesa alone)