Caracal Gold Share Discussion Threads

[papillon] 24/1/2023 16:00

👍 lurker5

[lurker5] 24/1/2023 15:33

I said this JAN 6TH. "Looks too early to jump in here methinks. Finances after the 2 'non-dilutive' - ( ha ha - no financing is non-dilutive. The dilution hits the P&L instead) financing still looks marginal. I haven't seen anyone work out the latest balance sheet which was pretty rocky back in June and after cash burn and what gold revenue there has been meanwhile meant that $13.5m was pretty desperately needed merely to keep the B/S OK let alone keep up capex. It will be a race from now on to ramp up production (with the short term costs that will involve) to keep up with the gold loan repayments. Not that I rate Align Research, but why have they recenly withdrawn their 'research and targets'? THey may well have been forced to stop research generally having lost their shirts on their own 'conviction' buys, but they're still keeping a few open. Until I (or someone here) produces a credible medium term forecast I'm not buying."

It always comes down to the 'top' company's balance sheet. Thats the one becomes insolvent - as it seems Caracal might be now. If it goes bust, its shareholders can't rely on its subsidiaries (eg Kilimipasa)to bail them out - they become an 'asset'for sale and in this case (because of its obvious dire state) Kp won't achieve anything like the 'value' they think it has. Outcome here looks like either bankruptcy and delisting - or take-over by another co on terms which will almost wife out current shareholders. Happens all the time in the mining world ! (Doh - Stockbox didn't mention that !)

[itsyou] 24/1/2023 12:06

£2m owed to Orca in shares at 30th June, then a CLN taken out with Koenig for £2m in July.

Both Thomas' companies. Why did they owe Orca the £2m, never saw anything for that in anything I've read.

[mam fach] 24/1/2023 10:51

It's a mystery why share price is falling.
Should be over 1p? In your dreams!

[novicetrade68] 24/1/2023 09:22

This is shocking what is going on here.

[solo4yous] 24/1/2023 09:07

No FCA investigationAs I called the Broker this morningHTTPS://mobile.twitter.com/zopelyforver/status/1617807353373675521

[johnyee 7] 24/1/2023 08:23

From TW

A lot of ouzos for the Sheriff for this one! And I am told that there is now an FCA enquiry into Standard Listed Caracal Goal (GCAT) following extensive correspondence from myself. Damn Right, there should be. At 4.45 PM yesterday there was a fess up with the company tripping over itself as it tried to cover up its crimes. This company is insolvent and its directors should be in jail. It is hard to know where to start.

[novicetrade68] 23/1/2023 23:22

Agree with #914, or can't Mile End facilitate $5,000,000 and get the company going towards a stronger production number.

[lurker5] 23/1/2023 20:37

Answers (3 in fact)
1) City PR firms can't read balance sheets and
2) A 'standard' listing requires less (honest and full) disclosure even than AIM, quite apart from not requiring a nomad. and
3) One of the 'brokers' has form re 2)

[itsyou] 23/1/2023 20:36

"Additionally, it has been requested that Mr McCrae transfer 25,000,000 shares to Mill End. It is anticipated this transfer will occur shortly and the Company will repay Mr McCrae for these shares."

Why doesn't the Company just pay the cash to Mill End, instead of this route? Is RM trying to get some money out of the business?

[maverickps123] 23/1/2023 20:25

Simple one question to ask:Why did City G tell everyone after the drop previously from highs and previous RNS, that there was good funding news and implied she had conversations with someone from the board and everything was going to be okay?! Ask that question ????

[lurker5] 23/1/2023 20:17

Because, TruthC, as Einstein said "The difference between intelligence and stupidity is that intelligence has its limits"
Even so, Intelligence knows that the CRCL investors have shares in is separate from Kilimapesa, and can go bust by itself leaving Kilimapesa liable to be sold for the pittance it would fetch in a fire sale.

[novicetrade68] 23/1/2023 19:55

It seems there are two plants off-line, but could get both online too in a relatively short amount of time ? I think on LSE the below was mentioned which hopefully suggest they have a few irons in the fire...

‘ The Company has been informed that Philoro remains committed to the financing and is working with the Company, existing shareholders, and other institutions in agreeing a financing package to replace the previous funding.’

[truthcaller] 23/1/2023 19:24

Why are some celebrating on lse and twitter.....

[itsyou] 23/1/2023 19:08

"Regulatory Disclosure" ? What about the £2m CLN with Koenig taken up in July?

Then how they plan to payback the hundreds of millions of shares they owe to Tyacks, previous directors, Mayflower that they cannot issue without a prospectus? That's not taking into account the 2 CLN's. Plus the directors incentives("laugh") amount to nearly £1.5m, to be paid in shares.

They might have pledged their shares and others to Mill Hill, but that's a drop in the ocean to the other shares they owe. How are they going to appease those others?

Plant 2 uneconomic, shutdown in Sep.
HL shut down in Dec.

One thing missing from the RNS, should have been the BOD taking a pay cut, as they try to fight off one of the hounds.

Glad I got out when I smelt the coffee, or is that meant to be something else!

[lurker5] 23/1/2023 18:19

Year end. Yet no hint what the balance sheet looks like. The plague written all over it. Sorry for the mugs.

[truthcaller] 23/1/2023 18:17

On 10/01 the philoro funding was done today its not done and they want to re negotiate terms. Cln funding also terms to be changedRobbie taking someone else shares to pay for other things.This is a disasterPumpers will only see what they want to seeThe mms will rip this apart tomorrow 0.2-0.25 until finance is sorted out Lets see what tw has to say

[soulsauce] 23/1/2023 17:56

Light at the end of a long tunnel but what a shambles.
I can't understand why they have gone gangbusters with the exploration and overstretched themselves with Tanzania when they have been so strapped for cash.
🤔

[maverickps123] 23/1/2023 17:50

Wow! Be careful - City G was pumping this saying she had inside news and funding was going to be announced and all be okay! It's not there's CLNs in play! Be careful! Another one she has helped pump like WBSN!

[solo4yous] 23/1/2023 17:44

HTTPS://mobile.twitter.com/zopelyforver/status/1617569041857794048

[truthcaller] 23/1/2023 17:39

There is celebrations on the telegram group crazy

[papillon] 23/1/2023 17:23

Yes, Kimboy2, both Q3 & Q4 production figures are abysmal! Also the company has finally admitted that they haven't received the Philoro money! No wonder this awful information has been issued in an after hours RNS. Talk about sitting on bad news for as long as possible! 🤣
RM needs to own up to bad news asap, not sit on it for as long as possible.
I feel sorry for the poor GCAT shareholders, especially those poor mugs who invested large amounts of money.

[truthcaller] 23/1/2023 17:22

30/40% drop tomorrow