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I can't make it tomorrow, but i understand there should be some other VSA capital clients who aren't yet on board that are on the guest list.

If Jason is reading this my only question / observation would be to focus on delivery of organic growth from here on in and the SP will take care of itself.

With such an incredibly aggressive growth strategy I can see every well bred charlie check book and those that aren't so well bred beating a path to Jason's door over the coming months trying to throw cash at him as the SP starts moving up rapidly on development results, project milestones and resource upgrades

Having recently placed to fully top up the cash reserves to fund Phase 3 plant upgrade, this should reap significant rewards for all early stage investors, if Jason and Robbie are being offered further land packages with multi million oz+ potential on top of what we already have I would prefer these are either structured by term debt or even NSR agreements as we are no longer a pre revenue company and need to structure any future expansion capital accordingly.

Ideally, the gold production can fund all future growth, and I'm happy to see this leveraged if attractive terms are available.

With the free cash flow GCAT will be throwing off come the end of this year we should be comfortably able to service a chunky term debt commitment if required.

The guys are clearly driven to move this towards a mid tier operator and by simply delivering on the present plan we should be rubbing shoulders with our neighbours Shanta Gold in the 100m+ market cap space in 12-18 months time as they are the closest fair comparison to what we are aiming to deliver in this region.

GLA

Q1 production figures are due in just a few weeks time at the start of April.

We should get conformation tomorrow of the NSE listing following the AGM.

@WS67

Es ist gut zu erfahren, dass KEFI auch in Deutschland von den Aktionären stark unterstützt wird.

The good news is clearly starting to spread

@WS67

Welcome on board to KEFI

I think your will find this is a fairly friendly bb and looks like you are joining at a very good stage ahead of multiple development News.

GLA

They are returning their ships to the docks & making 800 staff redundant after losing 100m YoY in an effort to 'shore up' the business.

No pun intended

Good to see the appointment of Franck Bizouerne as new Group Mineral Resource Manager.

A highly experienced senior geologist with over 22 years’ experience across the African continent.

Former Rio Tinto Exploration Manager

He would not be coming on board unless he can enhance his CV further by proving up a new gold district for Caracal across our wider land packages.

Alongside the other recent board appointment of
former Kenyan mining minister Dan Kazungu to the company board.

Dan was serving as the Kenya High Commissioner to Tanzania, where he is credited for resetting Kenya-Tanzania trade ties to its current, elevated level and transforming business and investment relations between the neighbouring countries.

Prior to his diplomatic mission to Tanzania, Ambassador Kazungu served as Cabinet Minister for Mining in Kenya.

His corporate experience spans over 10 years working at tech companies IBM and Lenovo, where he worked as territory manager for Eastern Africa.

His sterling work received a special mention by IBM at the New York Stock Exchange for delivering a successful growth strategy in Ethiopia.

I'd say they are fairly impressive appointments to drive this business onto the next level.

The funding for Saudi Arabia is in place so on the ML landing that will be rolling out into production.

TK is edging towards project completion.

Just one of these landing will see the SP here explode but If these two events land back to back the SP is going to go crazy!

TK has had set backs with covid and the previous political unrest delaying the development, non of which was in the control of the company, but with the work now started back up its very suspicious seeing shady accounts begging for a cheaper entry.

Seen this many times ahead of a explosive re rating.

Even the churn bot that was working away last few weeks has been switched off.

Looks primed now & once this breaks out, expect fireworks

GLA

@JC

Fully agree, GCAT must be the most undervalued Gold explorer / producer out there at present.

I managed what most would refer to as a filthy trade in CDL last month, they havent got much more than some incredibly early stage licences with a few soil samples, and a couple of royalty agreements that generate a mere 1.4m annual income which is less than 1 months income here, and they are loss making. Yet the market had them valued at a quite incredible 55m market cap just recently some 400% higher than here.. I've since completely out over there.

I've got nothing against CDL, but there is a huge disconnect between that company generating just 1.4m and a few early stage licences farmed out.

GCAT at present production levels of 12,000oz pa is generating nearly $24million pa. (without any further increases)

As others have pointed out this is expected to rise to $48million revenue pa as the production increases happen later this year.

From the present market cap of circa 15m it looks a fantastic opportunity and that's not taking into account the potential resource expansion.

GLA

Heard all that before.

Everyone said PREM was a dog, slating the CEO etc.

It then 10 x bagged.

Take a look at WSBN they did a 100 - 1 share consolidation, everyone was slating the chairman

They then 20 x bagged.

UFO - couldn't give the shares away at 0.07, same nonsense coments, that the company was going nowhere from all the gaslight crew.

It them 30 x bagged.

GLA

Sorry JC

Noticed you were in here just after I posted.

Good to see so many knowledgeable contributors

P.s

Good to see you in here Hydro

A fair few early GGP investors position building in here now, with Mickey, Viking and some others!

GLA

One thing I had missed previously is that alongside our Gold inventory held ready to sell to the refinery we also hold a significant stockpile or circa 3000/oz ready to be fed into the mill

Good to see that increasing as it demonstrates that the underground mining activities are clearly producing at a level to support the increased production rates of 24,000/oz pa once the plant upgrades are in place.

This is all before taking into account production from the proposed new open pit zone.

That also means that gold inventory and stockpiles pre and post production are presently fulky underpinning the market cap here alone.

With nothing priced in for the 1.65Moz Gold under licence yet to be extracted.

Crazy cheap.

GLA

Well worth a read as sets out in detail the rapid progress being achieved here,

- Q4 production was up strongly, 86%, from the prior quarter

- Monthly production increased 53%

Having put the foundations in place for an exciting gold growth story GCAT has demonstrated strong operational
performance. With assays pending and a ramp up in exploration activity we expect a period of newsflow and potential share price catalysts ahead.

GCAT has derisked the execution of its roadmap by strengthening its team and the recent
appointment to the senior management team are important.

We reiterate our Buy recommendation and 4.2p/sh. target price

Looks like we have flushed out the last few gaslighters over the past few sessions into the open for all to see in their naked glory.

Crying on here that they can't handle the positivity surrounding this share now. Oh dear.

If you they dont like shares with MASSIVELY POSITIVE prospects,.suggest you move on as this won't be the one for you with the aggressive re rate coming here.

10 X Bagger buy zone right here.

GL to the genuine investors.

Chile is definitely not without political risk, similar situation in Peru.

Keeping any eye on how that one plays out.

They would have to put some serious cash up to pay off fee likes of BHP etc, and then risk tanking their economy and scoring a massive own goal as no one would then invest there. Just like the situation in Argentina. Whether Chile actually could fully nationalise any of their mines remains to be seen. Its probably just politicians sounding off for the populist vote.

Most other mineral rich but cash poor nations around the world are desperate for outside investment from around the world and therefore licence out their lands to international firms and agree a profit share agreement.

Keep an eye on the Philippines and Tanzania for the next big mining booms.

Both have recently installed new Pro mining government's and are actively seeking international investment.

The Philippines has been courting the ASX listed Co's some expect some exciting deals to be getting done.

Tanzania is opening up big time to the London Markets.

Don't get much safer than Australia, albeit I don't agree with some of their ultra aggressive political stance on covid restrictions.

Speaking of Sam Garrett, he is now CEO of Great Southern Copper.

GSC is a newly listed Copper explorer over in Chile with some very interesting licences in a Excellence jurisdiction for copper and a cracking team.

It's on my watch list and I've stuck a couple of posts up on their bb just as a marker.

They are drilling in a few months and it's looks very interesting.

Should be one for everyone's watch list.

But very early days.

The debt package is also a mixture of term debt and mezzanine finance.

The costs will be fairly easy to nail down as one of the biggest expenditures will be the all weather roads which are priced on a fixed price per length required. Most of the mezzanine element will be all the yellow plant, trucks and loaders, the majority of which will be on Asset finance agreements. The remainder will be a revolving credit facility (like an overdraft) to provide sufficient working capital to pay for items such as the mine workers wages, consumables and utilities up until the first revenues are generated.

So it's not just a simple loan that you sign and then the cash is in your bank the next day.

It's a funding package bespoke to the project and they have got the required finance offers on the table. If they didn't have the offers they wouldn't be putting it in an RNS, nor would they be outlining the outstanding conditions.

So the finance package is there and the conditions set out in the RNS are hardly onerous to satisfy.

GLA

Terms sheets and finance offers are by there very nature non binding agreements until the lending conditions are satisfied.

The binding agreements are ONLY signed at project close and if you read the RNS, it sets out very clearly that they believe that all capital requirements have been arranged via the indicative offers and non-binding commitments received.

Anyone who thinks the agreements would be 'binding' ahead of the lending conditions being satisfied just demonstrates a total lack of comercial understanding

It's like receiving an mortgage offer from your broker subject to the satisfactory valuation of your property confirming the valuation of XYZ amount, and satisfactory insurance being in place etc.

That's also a non binding agreement until the valuation report is back, insurance is in place, searches are back and clean title to the property is provided.

No bank funding a mine construction provides a 'binding agreement' until the loan conditions are satisfied.

The company has set out the details of what needs to be ticked of and there isn't much work left to do once the contractors have provided the banks with the the capital requirements so that the loan matches the debt requirements for the construction costs.

Markets will always be forward looking.

TKGM is presently undertaking refurbishment of the existing site camp to accommodate the initial construction workforce and have recently completed detailed design for the procurement and construction of the security camp

Alongside the above they will also be constructing;

- A new all-weather access road
- The permanent camp
- The water dam 1
- The plant and administrative buildings
- The Bir-Bir river pump station and pipeline
- The tailings storage facility
- The stage 1; process plant
- The bulk fuel and lubricant storage area
- The grade control drilling & on site metallurgical testing laboratory
- The explosive supply and storage
&
The mining fleet service area.

The naysayers might not like it, but this is happening now.

Oh and Saudi Arabia is getting bigger all the time.

GLA

We know that over in Saudi, drilling at Hawiah has been ongoing. With the aim is to boost an already sizeable resource.

I like the sound of KEFI being at just the start of mapping out a much wider Gold province in the region.

Looking forward to the incoming drill results.

News on the full ML for Hawiah is also expected to land in the coming weeks.

That's the final piece in the jigsaw for what will then be a mapped out JORC defined fully permitted mine, with billionaire Saudi backers and multiple neighbouring extensions being drilled, and this is really starting to look very good indeed.

All of this alongside the various development news updates expected out of Tulu Kapi should make for a really good few weeks and months ahead here now