Member Info for Suggins

A nice simple production comparison with Shanta, a £100m market cap company targeting 100,000 oz/pa, would put gcat on a quarter of the market cap as targeting 24,000 oz/pa or around 1p a share.

The scoping study used $1,700 until 2024 then $1,650 I think. Looking like that should be very comfortable to achieve at the moment. Another core risk well under control.

Good news on the gold futures prices; hopefully the lenders do very well on the deals and are keen to come back to help fund further expansion.

The conditions might relate to company matters; such as the discharge of the charge over the holding company which just took place.

100% agree we could do with confirmation of receipt of funds. The second smaller agreement wasn’t expressed to be conditional so that should have arrived.

Management will know production levels, if a drawdown condition was production (which has not been met) then I find it hard to believe the RNS which gave a drawdown date of 31/12 would have been released. That argument just doesn’t seem to stack up.

They owe Orca £2million in shares but are only seeking authority to issue £1.65mil ?

I believe I was, yes. Great days. Missed the start so I wasn’t sure who was actually in the room, lasted all of five minutes.

Messers McCrae and Kisbey-Green attended remotely last year.

Will whoever is in charge of company admin have the nerve to attend ?!

Monday morning not very tempting.

Sounds like notice has already been given. I’ll await papers.

No it’s just me ignore ! Chargor as in giving the charge back to the lender !

I’m not saying it matters but does that discharge form look quite right ? Signed by Caracal but interest in charge listed as ‘chargor’, should that read ‘chargee’ (Goldplat sub-sidiary being the chargor).

Oh these holidays just fly by.

The Kenyan company which owns the mine, and is borrowing the cash, is owned by a wholly owned uk subsidiary company now known as Caracal Holdings Limited (previously mayflower gold investments limited).

On 19 December the uk company filed a discharge to a charge taken by a Goldplat subsidiary during the purchase process. I had assumed this charge remained to cover the outstanding royalty. Anyway, it has now gone.

I wonder if this discharge may have been one of the conditions mentioned in the RNS ? Coincidental timing if not.

I’m confident we’ll get an RNS update on the financing; why wouldn’t we ? Very very easy win. They can’t be that tricky to arrange even with people on holidays.

Over Christmas !

Nice little interview; great news on the heap leach recovery rate so far. I thought in the August update it dipped a bit but back up to the I initial trial results it seems.

What does it make you wonder about ?

There are not producing a great deal as they expand the capacity of the whole operation. The current low level production was used to help tick over and fund the exploration and expansion. They now have external funding to achieve the numbers set our in today's RNS. If production was nil would it matter any more ?

Nice to see the AISC nudge lower for the 10 year initially projected life of the mine. Clearly this is just the very beginning though.

Are those grades in the bit we bought or bit we didn't ? Perhaps a bit of both.

For those interested in such things, a number of historic share issue filings were made at companies house last week. Probably a pre-curser to resolving the issue fully.