What a relief, just waiting for legal wolf to turn up, congratulate LTHs, and then remind us over and over about how fantastic it was that the company won it licences back, with the same vigour he does when a share is on the way down.
Personally very happy with the CEOs strategy, a jungle licence and pump and dump co would be drilling like crazy at shareholders expense, hoping for a hit and using it to raise more money against. Here the co is generating cash, is pausing the exploration until the producing asset is completely self sufficient, and the proceeds of which can fund the necessary work so it's not coming out of my pocket..
Legal Wolf, behave yourself.
You know full well a company who has had severe restrictions on cashflow, and has to get transformational fiance sorted isn't going to be pushing on with exploration, it's the first thing non pump and dump companies stop as it's a future prospect and overhead.
If philoro remain on board I am hopeful Robbie can use the money to minimise the impact to the end H1 completion date (money buys him some optionality in terms of starting critical path items) Otherwise it's a clear 3 month min delay waiting for new financing.
Good stock box interview, all eyes on Philoro, hopefully they can buy off the new plan. If Caracal can show the Philoro money covers long lead items buying them time to sure up the funding gap, he might get away without delaying the end H1 target too much and keep Philoro on board.
This share makes it far to easy to focus on the negatives and that's on the management. For me down at 3p we are priced pre economic permit, let alone producing mine and gold room, let alone the opportunity of Akrokeri. As I said before I have bought down here as I believe even a sniff of positive news and this will fly back up. This is priced to fail.
Check out the DEP, they did the studies and tests with the Ghana university of mines, 87% recovery possible, we are at 65%, the egg heads will figure out the leach kinematics eventually.
Allot of negativity was already priced in thanks to the likes of the ghost of DJ etc.
Wasa, I liked that the additional stacking and crushing circuit long promised is still being funded from cash. (Reason for it's delay maybe??) shame we have to wait till June to find out what kind of improvement to production can be had.
We have some near term news due on Akokeri drilling results, the first set of which looked positive, we get an independent report on the mine plan and grade control drilling in Q1 from wardell on Homase.
The pit extensions and optimisation looked promising, reduction of stripping ratio and strong improvement in economic viability, coupled with increases in mineable resources sounds like good progress there.
Interesting they reported 80% recovery from test work is possible,first mentioned back in march but we are still at 65%. Why no improvement yet? There were supposed to be several improvements made to the plant to improve this.
Would like to see this edging up over next 2 quarters.
Most reassuringly the mine hasn't been "mothballed" as per ghost of DJs lies.
Overall I have been taking the opportunity to average down as I believe this share is a matter of when and not if. Imho dyor.