The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
And remember the RNS of 13 December:-
https://www.londonstockexchange.com/news-article/GCAT/sample-assay-results-confirm-mineralisation/15755530
Which included the excellent dd09 result right next to the existing plant :-
Hole VMRDD_009 : 18.11 m @ 3.13 g/t Au from 13.7 m
If the gold pour came from the last two month two 7,500 t heap leach pad cycle I would have thought it should be between 250 and 350 oz depending on grade of feedstock.
The cash is obviously great but perhaps as important is the % recovery rate as they still seem to need to convince investors to fund a mega version and I’m sure potential backers are watching very closely indeed.
Thanks SW10000; just see that the two heap leach pads are shown nicely on LinkedIn as well.
https://www.linkedin.com/feed/update/activity:7031911777474949120
Today’s tweet appears to confirm the main plant is off line. That leaves the two 7,500 ton heap leach pads which we have been told operate at around 50% recovery and, if they were full in December and are being reloaded now, seem to have a two month cycle. I think that should mean around 150 oz per month production (although very happy to be corrected).
I hope Mr McCrea put a shirt on and put the dogs inside if he got a visit:-
https://twitter.com/psmining_ke/status/1628439117494116353?s=20
Align note referred to the whole plant throughput didn’t it ? Whereas the tweet to volume being loaded onto a heap leach ?
Is the similarity not just coincidence? 280 oz/month to 1000 oz/month when they’ve had no cash seems more than a little unlikely.
Is anyone [aprogerson] able to extrapolate anything from the small nugget of heap leach information given today ?
The last results stated:-
‘The heap leach pads reach design capacity and therefore Plant 3 was stopped in December 2022.’
So can we gain an insight into cycle times etc ?
The summary of the existing Orca loan note set out in today’s Rns does not seem to match any set out previously.
It word for word matches the summary of the 18 July 2022 loan note to Koenig from the financial results except for the borrower and the date. More oddly the summary in todays Rns changes the headline borrower but not the party receiving the warrants (ie says Orca were the lender but Koenig got the warrants).
So either, there were three previous loan notes, one of which was excluded from the financial results or there were two and the Orca/Koenig one has been mis stated in either the financial results or todays Rns.