Member Info for Suggins

It is not an either / or situation. We can have regular Twitter snippets and formal Rns where appropriate.

Great to see work ongoing; open pit to heap leach does appear to be a very straightforward process.

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

Is Paul Reeves still there ? if not, who is the finance director/manger?

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 do love the Twitter updates but perhaps it might be best to cover the FCA letterhead when taking promo shots.

Not sure there are any ‘in’

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 ?

Looks suspiciously like an operating gold mine.

Together with the funds just raised the ship definitely seems to have stabilised.

Well topless hasn’t worked, only one place left to go now (gulp).

On the plus side the ankle tattoo might well mean ‘courageous’; useful attribute in the circumstances. Mind you, I’m no expert so it might just be his favourite order.

The company’s latest tweet shows these financiers and consultants have literally taken the shirt from poor Mr McCrae’s back. Gougers.

But significantly preferable to insolvency.

Now we are not immediately going broke any more; what do we think is holding up the new chairman’s permanent appointment ?

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.

8% interest v 10% price discount on the shares on conversion. Would only really make sense to convert if a decent rise was imminent.