Member Info for sw10000

Glad to help and definitely interesting as to why they visited , maybe want some guaranteed gold sales or something like that in exchange for upfront payment OCIM style.

Day to day production is key whilst we await financing so good to see progress, fingers crossed progressing as suggested

Here you go

Appear to have some new visitors that are from Dubai, heap leech is getting loaded after a reworking and some pictures of rock samples

Exciting week at Caracal Gold PLC! Our Kilimapesa team had the pleasure of hosting some visitors from Dubai eager to collaborate. Kudos to Mark and our exceptional health & safety team for an insightful mine tour. Heap leach project revamp is a GO, and we're diving into Grade control on pit 1C – our prime active mining zone. Stay tuned for more golden updates!#GCAT #GOLD #Mining #Kenya #Tanzania

More plot twist here then Eastenders: https://twitter.com/i/web/status/1692478207428083865

Any evidence ? Hard to take such comments seriously without some facts behind

Good question, I suspect now as they shut the underground bit and didn't start digging the open pits until March from the high grade zones.

Q3 will be interesting as downtime in June meant they had plenty to process in July which they did according to the Twitter, the limiting factor as Robbie mentioned on the interview is the processing infrastructure, apparently all ordered and partially paid for , just needs the funding to pay off and deliver...

Good insights, thanks for sharing .

Let's see how H2 23 goes, hopefully we see further growth and the funding etc sorted

Let's not spread rumours on funders, no one knows who the funders will be until they are announced via an official RNS .

Many companies appear to have visited site so to throw names around is guess work at this stage

Tbf, there isn't a huge amount to write about until GCAT get funding

I know someone who told me they have all been paid and are happy... See how that works.

Proof is everything , some random that has never posted on GCAT pops in with a random deramp.

Yes, he mentioned in the interview funding was not dependent on the prospectus

I hope we would all like to see something this qtr

Sounds like GCAT is an uninvestible share for you give. The CEO is likely to remain .

He's made some big mistakes with the CLNs however I don't believe his actions are malicious, rather he banked too much on OCIM funds coming in hence he was hoping to quickly pay back, when it was delayed and then eventually didn't happen the proverbial hit the fan. Hiding the CLNs was the mistake .

OCIM not so much from all I have heard and I believe they did pull the rug from under , credit needs to be given though for keeping the lights on and pulling the company back from the brink.

I believe lots of lessons have been learnt and he was far more cautious in the recent interview abou the funding and the JV when pressed on timelines .

Ultimately, we will find out over the this QTR or the next.

Apparently this will also be covered under the ML for Kili which is valid to 2036 once converted, says it on the interview.

I also found the following but need to confirm as the Kenya mining site isn't up to date or at least the one I'm looking at.

Prospecting Licence PL/2018/0189 is a prospecting licence that was granted to Caracal Gold plc in Kenya in 2018. The licence covers an area of 55.3 square kilometers, which is 62 times larger than the area covered by Caracal's current mining licence at Kilimapesa. The licence was renewed for a further three years in January 2023.

Here are some additional details about Prospecting Licence PL/2018/0189:

Grantor: Ministry of Petroleum and Mining, Kenya

Area: 55.3 square kilometers

Minerals: Gold, other minerals

Validity: January 2018 - January 2026

The licence allows Caracal to explore for gold and other minerals in the area. The company has said that it plans to use the licence to accelerate its exploration activities at Kilimapesa and to grow its mineral resource base to over 2 million ounces.

In January 2023, Caracal announced that it had renewed Prospecting Licence PL/2018/0189 for a further three years. The renewal of the licence is a significant vote of confidence in Caracal's operations in Kenya. It also provides the company with the certainty it needs to continue its exploration activities at Kilimapesa.

Caracal is a gold producer with operations in East Africa. The company's flagship asset is the Kilimapesa gold mine, which is located in Kenya. Caracal also has a number of exploration projects in Kenya and Tanzania.

I hope this information is helpful! Let me know if you have any other questions.

That was ounces a year BTW, probably lower but that would be great.

He seems quite happy with VR on the interview, excited about the potential but it's early stage and awaiting the funding to carry on with deeper exploration so being realistic.

Sounds sensible to me, will be multiple open pits .

If VR is as good as they think it is , could get a couple of hundred ounces from it over a 4-5 year life but too early to say..Not my words but Robbie's in the interview

Agreed, would be good to see some further results on VR as the initial results looked very promising

It's a fair question, why don't you reach out to GCAT via the contact on their website to enquire.

I guess we will never know all the in's and outs of what happened but it doesn't look good for OCIM either, they never commented either which is interesting.

I also heard from the Robbie interview that when the funders came to the table , it was more involved then usual as they also wanted to understand why OCIM pulled out, effectively doing an extra level of due diligence before starting the standard due diligence process.

Surely this is a good thing for us if they've gone through additional sanity checks.

The good news is the funder has had at least two independent mining teams on site doing due diligence on the existing mine and plan.

I'm pretty confident they will have studied the cost and feasibility

From one of the recent tweets (July 21st):

The final version of the independent mine plan has been received and is being reviewed this is one the last big steps for the Kilimapesa expansion financing.

Not sure if that's correct, from what was mentioned in numerous interviews plus the interview Robbie recently did he stated the OCIM money and Philloro would have been enough to pay for the upgrades to allow 24/koz a year and the exploration of VimRutha, Tanzania etc (that may not be an issue if the JV happens as stated)