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Thanks for posting, I do have a question though. In relation to...

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BlackGoldNiCu

140 Posts.

64

17/10/22

12:13

Post #: 64233121
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Originally posted by Biotrader: ↑

I think you should all watch this video above, there extensive geological and 3d mapping for the gold deposits Dave and the team know exactly where it is so this isn’t a geological, but a mining/digging the right dirt issue (eg the gold is there)

problem…

I spoke to Dave last week he was absolutely gobsmacked that the share price has fallen by 45% in a week based on lower grade through the mill because of staffing issues, As are most of us. He does understand with the horror memories of DCN and GCY fresh in peoples minds they just panic and jump ship. The difference with those companies is the primarily structural geological issues including low grade reconciliation to resource model caused material shareholder value destruction, we have 100% reconciliation to the grade control model and 98% recoveries, we are not the same not even close!

Calidus has extensive drilling and mapping if you see the above video and this is all verified by 3rd party companies and also again based on talking to Dave the RC grade control drilling confirms gold is matching the original mapping ect.

When covid hit there was upto 70% of staff off for up to 7 days at a time not once but twice and that was the 2 major outbreaks in between those there was still huge amount of staff of from covid, meaning we couldn’t blast we didn’t have the geos on the site marking where to dig ect so I guess the left over skeleton staff where just digging holes anywhere to keep the plant moving.

This has all been rectified with a huge amount of attention, we have been fully staffed now for over 6 weeks with extra specialists working on the grade control and rom pad execution. McMahon are our contractors and they have an obligation to hit Targets of moving soil and getting the job done so I think Dave was having a meeting with them last week to make sure they stick to there contractual obligation’s!

We all know last quarter wasn’t cash flow positive and will have cost maybe a few million, However if covid lockdowns weren’t a thing then none of this would have happened, I don’t believe that (negative3-5m quarter) validates a 130 million dollar drop in market cap for a massive operation issues due to lock downs (covid) Nothing to do with the gold being sucked out of the ground from aliens. As I said like other gold stocks that have been beaten they drilled and discovered the gold wasn’t there, we have the gold and it’s been verified by 3rd party just have to dig the red bits on the map (the right mining plan and execution on the pit)

All in all we will get there, I won’t be selling anything as for lithium, that was a sweeter and at the current moment I don’t care about it. Just looking forward to the gold grades getting back up to .9-1 so we can start pumping out cash,

ps no capita raise will be needed!

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Thanks for posting, I do have a question though. In relation to the workforce being impacted by Covid, I thought it was only between 15-20% at any one time. Where has it been said it was 70%?
Also DR did mention that they had one of their bomb truck operators go down with Covid, and he was the only one on sight, so they couldn’t blast for a week. That in itself is poor management, either Calidus or McMahon, irrespective of Covid or not. Can’t be in a situation where the entire operation hangs on whether 1 person shows up for work or not.

that being said, I do believe entirely in DR and Calidus, I’m hoping this is just a bump in the road. Tempted to double my holdings down here.

CAI Price at posting: 35.5¢ Sentiment: Buy Disclosure: Held
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