Member Info for Zan_TM

Hippo,

I wouldn't disagree much.

The projects ORCP is involved in are large, lengthy, costly builds. They take years and drink money. I too still think as projects, they could come to life.

How much of them we end up owning, that's up for debate still but even a small percentage still provides big uplifts from here.

My own main concern is that Naheed has mis-managed running the company.

Why is her salary so large? Has the capital raised over the years been spent well? Does Naheed fully understand or work towards shareholder value creation?

Those areas need a big improvement (Salary one needs a decrease lol).

Plenty of good news potential still, but as investors, the SP does the talking and at present its been a poor show.

Lol Watcher. I vote for you taking over the X feed mate as I think it would be more interesting.

I'd add though, that the rock picture can't be recent. Ideally taken from a google image search.

It is insane AG mate, but sadly nothing we can do about it. We all knew how high those salaries were when we entered and knew how long these projects would take.

The one thing we didn't know or expect was the massive discounts Naheed keeps offering out on these placings.

Why is that? Is it because no one wants in so only way to get funds is to make it super attractive price wise, or is it less innocent?

Regardless, nothing we can do to change it as voting rights mean PIs will never have enough voting to make any difference, which is why resolutions always get passed.

To add to that, it might have helped if the FS produced was actually shown to us. I mean we waited patiently for about 10 months for this so called world class study to be created, to then simply be told "study complete, it looks good"

As it stands, given the CEOs large salary, Oracle is coming over very much like a lifestyle company, however, I'm not sure that is the case.

I do believe that it wants to see its projects created, its just mis-managed. The company has no income and no timescaled route to an income either. Without an income the only way to do anything is via placings.

All the MOUs or deals with partners could be very useful for the future, but none provide any restpite from the cashflow issues Oracle has at present.

Building that Green Hydro project is massive and a decades work. I think most understand and accept that, but Naheed needs to become smarter at funding the company.

Debt, if through CLNs likely wouldnt work as we would have no way to pay back so would get hammered even more.

Naheed to me needs to really focus on getting a funding partner who will pay forward installments to us to allow us to operate using that cash. Without that where is the way out of this spiral? As in 6 months we will need more money, and again after etc.

Its not lost on me the high salaries taken too. As it stands, minus some jaw dropping news (positive), those salaries aren't looking like value for money from an investors point of view.

Batt Min were always going to become a seller in my view and so the over hang was always on the cards. Its often the way with these deals and the unspoken downside of them.

On the interesting side though is who brought them all? Did they go into PI hands or other HNW individuals hands?

There was some talk a while back about Podders having to big a stake (not from me as zero issue with there stake), if PIs picked up those shares that could be deamed a positive from those after a larger PI weighted % ownership balance

Its basically priced to fail (or at least not succeed) pretty much.

Ovs amount of dilution once prospectus is approved will be important but at under 4 mil Mcap, there is a decent amount of wiggle room in my view and to still have plenty of upside left after.

Tanz JV is super interesting, but I think its all about Killi's funding and pulling that off right now.

Impossible to tell if or when that might happen. A CEOs job is to be bullish on outcomes, but you would think it can't be to many months off now if it is going to happen?

Hope your well my man and life is treating you kindly. If you got 5, hit me up a disc msg. I got a question for you.

I think its worth remembering Jim Mellon makes most of his money from ANIC via the third party he owns which provides consultancy work to ANIC and is paid a large percent all based on ANICs increase in NAV.

Last year it caused a lot of uproar as the NAV went up, but the SP had dropped.

A sceptic would think that the buy back is a part of appeasing us holders by increasing the SP so there is less moaning if Jim in effect pays himself another very large sum if the company has a NAV increase again.

Regardless of if that is the motives here or not, for me share buy backs are always a positive as it reduces shares in issue and increases your profits via the SP lift and as a holder, Id much rather be sat at 15p than at 10p.

Hey Fill,

It's an interesting point about plant 2. I need to re-read previous RNS's as can't recall what plant 2 refers too.

In terms of cashflow, I don't know how much we have spare as Mill End are still owed a decent amount, so that could eat up a lot of the income (if we did pay via shares after prospectus approval). However, it does feel like some money is filtering through to lab work etc. I'm also working on the fact the only reason we can turn profit right now is because of the high grade on the hill we found recently, but that has a shelf life to how long it might last.

I don't know the answer to this, but without additional capacity expansion can the company stay profitable long term? I'm leaning towards a no or close to break even.

I strongly disagree Legal. The purpose of this board is surely to discuss all areas.

Yes if the financing fails it would be a somewhat pointless topic, but isn't that the same for every small cap pretty much.

What you or I focus on or write wont change a thing, so what good does only focusing on that do? And in turn, what harm does a distraction create? I can't see any.

If you were to extend your view, then you could argue no one should ever post or chat about anything on any small cap other than financing ever. We both own or post on some of the same stocks elsewhere too, and bottom line is without financing they are all knackered to, yet post away we do. Isn't that the whole point of forums? Why is GCAT limited to finance only, when that applies to every stock out there (as in making money is needed).

I get for you, you might not want to think of anything else, but in that case, why would it matter if others do? Why would you try to keep the focus on an item you have no control over or say in?

For me, we have gone over the importance of finance 100's of times and having a discussion about something else is.....fun.

Its also informative. Yes it might be time wasted, but in the nicest of ways Legal I'm not sure as someone who spends a lot of time on here, yet doesn't own the stock, you are best placed to suggest what is well spent time.

That may sound harsh, but with full respect, I created to a topic to discuss Vim info, and you have hijacked it by suggesting reponses would be a waste of time, which seems somewhat uneeded and unhelpful.

As a standard I do find your posts very insightful, but in this case it feels like you are fixated on one area and that fixation is stiffling wider discussions, for fun, for info, for insight.

I do agree on the first bit Legal, although I got the impression lack of cash paused VIM work.

On the 2nd point about financing. I'm not yet sure we could say. They are (alledged) working on a deal with someone and I don't think it matters what you have, DD work takes time. Every company that shows interest will want to do their own DD pretty much from scratch and best will in the world thats a min 6 month job, if not 9 to 12 months. So unless it falls through, I don't think we can yet say no deal is on the cards.

When it comes to Vim directly, we must remember its all taken from relatively small drills. Its like when you look at an MRE or JORC and people quote that JORC amount as though that is what you have, when it isn't. Its a loose, rough guess taken from more basic info. Financiers tend to only take into account more sure Indicated/Measured resources and ignore the inferred resources. To this end, VIM, while holding potential, on paper prob doesn't add much weight....yet.

And that yet bit is my question really. I know, you know, we all know trust is lacking and finance is needed, but moving away from that much done topic for one moment, what does Vim's results so far show?

I always love to bring up Vim Rutha every now and then and for good reason too.

Recently Robbie mentioned in his interview that they believe (not proved), that VIM could be a 40 plus year LOM plot producing several hundred k of Oz per annum.

Now that's some statement as would put it at around 9 mil Oz MRE.

Of course, its well worth taking that with a pinch of salt as was more his hope than factual, but in the recent drill core pics Jaybike noticed the boxes had VMR marked on them. Might mean nothing, could mean Vim Rutha.

Granted, walk before you run and Killi Hill needs sorting first, but I guess to break up a bit of the gloom and doom feeling surrounding GCAT right now, anyone want to share actual known details of Vim Rutha, i.e. current results and possible strike lengths just to help keep it in our minds.

I'm sure the strike length was looking like 4.5 km and beyond based on initial drills (not massively infilled mind).

Depth is needed.

And thats my point really Watcher. Yes for us it feels forever, but to the lawyers, its just standard in many ways. I always found they never lived in the real commercial world and would almost happily let a company go under awaiting a contract over signing off a risk point.

Legal, while technically I don't think the company would go under if the deal fell through, I do think from an investment point of view for us PI's it would be a very long and hard road back, which again, reaffirms my view that I would rather take a little longer now getting it over the line correctly, than fudge it through and come unstuck on a small detail.

Maybe I am and don't get me wrong Legal "close" has been the wording for months now, however, having worked on large (hundreds of Millions in value) contracts myself before, I no first hand how time can run away from you. I've seen what appears to be small minor legal points go back and forth between legal teams, meeting after meeting, simply because sometimes neither side wants to find a middle ground.

So yes, you would have hoped this was sorted by now, its importance for the company to me means if it takes a bit longer, so be it.

Financing is def key here for sure. Last fall through has added 10 months so far to the delays and increased debt owed to unpaid CLNs, which in turn reduced available capital as some was used to pay off a part of Mill Ends deal.

I think RM and the team will also be very aware of this too and tbh its no easy challenge to secure financing in todays climate so if RM can pull off this side of Xmas, then hats off to him. I know many will view this as a "has he learnt his lessons" thing, but I'm not sure securing financing falls under that bracket as its so complicated. The main lesson from last time was over hyping the deal before it was drawn down (which to be fair every CEO does on small caps). This time round RM has been a lot more cautious by refusing to give timeframes but has said "its close" many times.

I would imagine RMs job depends on the success of securing this finance too as I can't see how he could survive the revolt if it fell through again.

If it gets secured though, it really should remove a lot of the anxeity surrounding this stock. It doesn't mean other hurdles wont arise, they always do and often unexpectedly, but knowing the cash is available to upgrade to a better financial place would be very very welcome news.

Hi Dale,

I can totally see your point of view and have no doubt the intension is well placed but I personally wouldn't agree with that statement in full.

I think a lot depends on whose eye is the beholder. I'm sure there many out there who do require confirmation via positive posts to either buy in or keep holding, but equally, some get put off by that as mad as that might sound.

Realisum isn't strictly being negative. SOG did also post a very positive outlook too within the same message.

There have been individuals and certain groups pushing only positive spin and trying to use cancel culture for anyone non positive since 1p plus with this stock.

If you had listened to them you would be very heavyily down.

End of the day making money is surely the aim of investing, and I can't see how that is helped by putting a head in the sand to anything not so great.

Outlandlish negative posts or positive posts are no help to anyone, but I can't really disagree with what SOG posted tbh as if the funding doesn't come in in full, or is very dilutive, a fall in SP would be expected, but likewise, if in full and non dilutive, a rise would be.

That feels balanced and sensible to me, which I much prefer to someone intentionally trying to spin me a line just to trick me into buying more.

As a holder, of course I want the SP to rise, which if that finance gets sorted hopefully it will.

All the best Watcher. Hop things improve for you.

Dale, its basically what Folio said.

To add a bit more to that within stocks there is not actually such a thing as a buy or a sell, only a matched transcation.

If you wanted to "sell" your shares, you can only do that if someone else also wants to buy them aka liquidity. So every sell has a buy attached to it too.

LSE like pretty much everywhere else then tries to report this as a sell or buy depend on where the bid and ask was. Its just a representation of senitment thats all.

If a match happens around the mid price, LSE has to guess but thats no different to any other platform.

Remember, every completed transcation is a matched transcation between a buyer and a seller, with the MM/Broker taking a small amount for matching the deal which was the spread.

That is the downside to tweets, if something isn't mentioned which usually is, it can cause concerns.

For me, unless its in an RNS I'm not overly weighing it into anything, be that positive or negative.

I love the tweets, but you always have to remember the poster can be anyone. Time pushed week and that task can be given to an admin clerk.