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Diabetes is a possibility. Does he drink a lot of water?
Other causes for a cat to lose weight while having a ravenous appetite are hyperthryoidism (over active thyroid gland), pancreatic insufficiency (pancreas not producing the enzymes needed to digest food), parasites, inflammatory bowel disease, intestinal lymphoma (cancer; can be seen in younger feral cats that are infected with the feline leukemia virus).
You could take a stool sample to a veterinarian to be tested for parasites. If no parasites are seen, then testing for and treating these conditions would be the only answer for his problem.
Is he too wild to be touched, or handled?
I have not heard back from you. I hope you saw my responses. How is Little Guy doing? Can I answer any more of your questions?