bye bye goldfields, page-28

sorry to revive this thread guys, but I have been away on holiday and I have only just returned to a decent internet connection so I want to make a few comments here on some things that have been said...

I will also trawl through all the recent banter (you lads have been busy - I don't think I have ever seen so much chat on CQT) and I may fire off some more belated responses to other comments...

anyway, back to this thread...

keyman - you say GFA are spending money elsewhere - £28m isn't really that big of a chunk of cash for GFA, gold is still a valuable resource, and the earth is still turning... personally I don't think this Glencar Mining news is of much relevance.

jaylea - you say CQT will struggle to fund the SH project if GFA walks - give me a break mate, re-read the pre-feasibility study... they only need a capex of $118m of which CQT already have about $25m in the bank... then check the IRR and tell me what rational investor/banker won't stump up for a piece of that 75% yielding pie once the BFS is completed?

victorious - you say "if GFA can't see any value in CQT..." - What??? I mean... HELLO??? GFA didn't; 1/ sail half way around the world to sniff the initial Silver Hill results all those years ago, 2/ sneakily buy 10% of CQT issued shares on market, 3/ then sign up for a JV that had onerous work conditions attached BEFORE CQT would graciously let GFA buy 51% of JUST the regional exploration area based on an NPV price determined by an independent valuation, 4/ then opportunistically buy another 10% of CQT issued shares from ANZ off market (a dubious transaction to say the least - but that is another story!), 5/ spend $5m to complete their year one work obligations, 6/ spend who knows how many more $$$ since then on drilling, wages, analysis etc etc, to then one day wake up and say "ma se poes bokkie - we got this wrong - hierdie is van geen betekenis - let's go back home to Capetown for a few Castles and a braai". In conclusion vic, I believe GFA do see considerable value in CQT - and to tie into the story from keyman about Glencar Mining, I think if you tally up the money GFA have spent thus far on CQT, it would exceed £28m.




cheers guys... it's good to be back, and it's good to be alive... sadly though it is still a bit of a drag to be a CQT holder as they are still, IMHO, grossly undervalued, and still clearly a bit misunderstood! Also please note that I am of course talking my book, so please ascribe no value to my comments whatsoever, and please don't take any of my rantings as personal affronts, they are not intended as such...

p.s. for those of you who are interested, I am currently ruminating on recent CQT developments and I'm slowly piecing together a few pieces of the puzzle... I will endeavour to post a long and poetic missive over the weekend...