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Think people haven't realised how great this news is ... Proactive Investors spelt it out...
Caracal Gold PLC (LSE:GCAT) confirmed that it has completed the acquisition of the Nyakafuru gold project in Tanzania by issuing 133,333,334 shares as a full and final settlement.
This replaces deferred previous consideration terms including deferred payments and a net smelter royalty.
The other bonus which people appear to have missed is this in place of the royalty payments they originally agreed.
I'm suspecting the JV partner didn't want to be giving up any of their profits to the sellers of Tanzania, at least this way we own the asset, the seller gets to do well from the fortunes of the company and the JV partner maxes out their returns... remember potential for 50k/oz here and with the right partner that could be accelerated as they are looking at open pit.
Big step announced today, we are know 100% owners of Tyacks Gold, this is one of the final steps to getting the JV finalised for the development of Nyakafuru 👍🏻. The path to production for Nyakafuru is very exciting #GCAT #Gold #Mining #Tanzania #Kenya
For anyone that hasn't reviewed the Tanzania RNS to work it out.
August 12th 2022
https://www.lse.co.uk/rns/GCAT/further-admission-of-shares-7vkvd72wnbr2acf.html
May 31st 2022 https://www.lse.co.uk/rns/GCAT/tanzania-acquisition-to-double-resources-to-13moz-rd6ejs4lpw48r5k.html
7th Dec announcement https://www.lse.co.uk/rns/GCAT/delivering-on-east-african-gold-strategy-8wtm6vwy4qnyjl9.html
Agreed, I'm happy with this RNS.
We now fully own Tanzania with huge potential, dilution was always going to happen for this and we knew this when it was first announced .
Also, officially confirming JV which is a good sign
Agreed, I think for some reason they are holding of TR-1s as long as the limit allows for some reason, despite being given Robbie's (April 13th I think )and Frank's shares (Feb) they only declared holdings over 3% last week or the week before
The other good news is it looks like MillEnd maybe gone, I suspect from monitoring L2 and volume over the last couple of months since they were handed Robbie's shares they are done.
Today would have been an opportunity to offload a nice amount of shares if they still had them
Very interesting tweet https://twitter.com/CaracalGoldplc/status/1671042859007344640?t=KbOAJkboj6vZ9p1-gqxIeQ&s=19
Would have thought a potential JV should be in an RNS though
That's the nature of the market and how it works, ultimately if you researched GCAT and you understand the value / current challenges you should be comfortable with the risk and potential to make money back and see decent returns in the future .
For anyone that missed, here is the link https://twitter.com/CaracalGoldplc/status/1670696393214685187?t=I8O058xtVixwjY6P70bQIg&s=19
Progressing nicely
https://twitter.com/CaracalGoldplc/status/1669589642465746947?t=aRJFxTOHIgkIZTgR6D9ujA&s=19
https://twitter.com/CaracalGoldplc/status/1669590441572876288?t=z--edSKZwbaAxxMiAg9-mA&s=19
That would be quite the RNS, we were on course for 24k/oz a year with 2k/oz this month, unfortunately someone stole 1500/oz of it as I kept putting every time I was smelting on Twitter.
Oddly enough the security guard has also just left and posted pictures of himself in Barbados ...
Agreed, happy to wait as long they deliver on those things .
Those who want to remain in will, those who want out have sold and then there are traders looking for a quick 10% . Typically the ones that appear when there is news, hype / deramp it up and then disappear.
I'm getting on with life, enjoying work and the sunshine .
The new chair also appears to be getting on with what he was employed for, time will tell
They also need to go through revisions if required, combined with the apparent shortage of staff at the FCA this adds up.
It will come when it's ready , more then likely by the end of June I suspect