Member Info for Suggins

‘ and the proceeds have been drawn down’

On balance I think this is good news. Orca will do well if Caracal do well. They have been invested since the original listing and clearly remain keen.

Disaster not averted but delayed.

Very quiet indeed; like the deck of the Mary Celeste.

A look at gold price from a man who seems to know.

https://twitter.com/burggrabenh/status/1624048592846573576?s=46&t=cqlKKI88ldJuScAupTAPzw

Mr Rule is a very interesting man though.

https://www.youtube.com/watch?v=_8zgn3qCv4Y

Sorry Mickey; I thought it was like transfer deadline day where we had to invent player sightings to fill air time until actual news lands.

Clearly mr McCrea was seen smiling and shaking hands with Rick Rule at the Indaba.

Management have moved to Kenya, this is not the usual take a fat wage from a London office type situation at all.

It’s the big African mining event this week in South Africa; hopefully his ‘hot air’ lands on some rich ears. OCIM and Philoro also down to attend.

Thanks Zan (you should email the company and offer to share your expertise !)

They issued 200,000,000 shares on 14 February last year, as that date passes I think it allows the issue of that many shares again as the 20% limit rule is on an rolling annual basis (although I could be wrong).

Hopefully that additional flexibility can positively feed into an interim finance deal.

Hoping for El Dorado rather than Atlantis (although I’m sure some old workings on the exploration licence were said to be flooded)

A tiny nugget of good news - they have filed the confirmation statement at companies house ! Possible first sign of improved admin.

There seems to me to be a very real risk that the next RNS could be our last but that is reflected in the very low share price/market cap. That’s certainly not great for long term holders but for new investors with a high risk tolerance there could be some good value here.

I don’t think wages in Kenya are that high.

https://www.ceicdata.com/en/kenya/average-wage-earnings-by-sector-and-industry-international-standard-of-industrial-classification-rev-4/average-wage-earnings

The heat is undoubtedly on but the time does definitely seem to be right; gold price at over $1,950/oz and the gold futures prices looking very good. December this year over $2,000/oz.

There is also a difference between a straight forward loan and an advance gold sale agreement.

The risk has gone up but the share price has come down - value remains.

If the funding came off he’d be a hero; he cannot be blamed for the caprice of a French billionaire.

I think the answer to a lot of these points is that we will never know. It seems almost everything was staked on getting the OCIM financing, and it appears that it so very very nearly came off.

I’m prepared to believe that the motivation behind events has always been the success of the business, honest dishonesty.