Member Info for Suggins

It seems ocim offer two main repayment options; variable commodity quantity based on the then current price and fixed quantity with a hedge in place. Again, comparative costs of these two options is rather tricky to asses.

That’s the level of sophistication we need to see more of on the Gcat share register.

So if a TRX type deal was announced we’d not really have a clue on the actual cost to the company.

You’d have to ask my parents ;)

The rich French people who did the funding deal with TRX produce a handy guide to that type of funding:-

https://www.ocim.eu/prepayment-financing-a-mutually-beneficial-arrangement-under-certain-conditions/

What I can’t find is an indicative discount to spot price they’d agree to. They’ve done multiple similar deals and all the news releases I can find seem to have the same carefully worded statements excluding the key cost detail.

Did the price really drop today ? We had a very small higher last trade yesterday but otherwise it looks like the last trade price yesterday was the same as the last trade price today.

I can’t see anything company specific. The domestic exchange took a bit of a battering yesterday it looks like but still trading at 146p equivalent.

I think the drop here is simply linked to a few wanting cash out of the market generally and the poor liquidity on this stock magnifies the issue.

New president seems very keen on boosting the exchange:-

https://twitter.com/kenyanwalstreet/status/1579736823274049537?s=46&t=Gdb3Ymm5ej8ibXeD5dB29A

Will Caracal be one of the six ? If they can sort the finances out then it has to be yes.

They’ve diluted beyond the maximum allowable!

Big question playing on my mind. I’ve always said Tan-zania but it seems team gcat tend to go with tanZan-ia. I assume they are correct being Africans.

Having a better look through the updated presentation:-

'Finalising acquisition of Nyakafuru Gold Project in Tanzania that has the potential to produce
50,000oz per annum'

Suggests the purchase process is still ongoing, having paid $1.5 million and with people on site working away I would hope this is fairly well settled. I wonder what makes it an ongoing matter and not completed ? Hopefully just some government paperwork.

Also, management performance rights listed at 300,000,000 which I think was the original figure. Haven't some of the triggers been met by now and so some shares already awarded ? Perhaps they can't issue them until we have the prospectus due to the quantity of other shares issued during the period.

A lot of interesting detail in that new presentation on plant layout etc. but still no word on how it all gets paid for that I could see.

Gold price on the charge. Who knows why or for how long but good to see nonetheless. Could this rally coincide with some good company news ?!

I was wondering myself what became of the south mineralised zone and the decent grade trench results. Answers on a postcard.

In this interview from February 2021 mr Kisbey-Green said he wanted to be at 24,000 oz p/a in two years. Current plans should put him bang on that target, that’s good work.

Wonder what he is predicting for the next two years ?

https://m.engineeringnews.co.za/article/london-listing-on-way-as-mining-company-strives-to-become-green-gold-producer-in-kenya-2021-02-15

They would not be spending as they are without confidence of funding (this is what I tell myself anyway).

Also, unlike an ordinary explorer, worst case here would be delay whilst existing production provides the required funds.

Where is all the money coming from ?

I think we are expecting/hoping for some sort of funding deal linked to the discounted forward selling of gold. Perhaps interested parties want more evidence of production capability prior to completing a deal (I know I would) ?

Heap leach works are cracking on and maybe we need a decent sized cycle to run through to convince potential funders ?

If there had been no new shares issued since listing then the current market cap would equate to 0.91 per share (I think). Not sure what that tells us but there you are.

I think ignoring the latest Stockbox ‘research talk’ would be fair enough. The guy didn’t even know the name of the company and amongst other things I’m sure he said the NSE listing had taken place.