Kavango Resour. Share Chat (KAV)

Completely agree with you Legalwolf. Many promises have been made but very few if any kept. Even commitments in formal RNS’ have been completely ignored. For example the 3 March RNS for the KSZ clearly states that the full petrology report will be shared once received but this never happened despite repeated promises. It really is like trying to get blood out of a stone. Meanwhile the rose tinted wearing BT fan club will keep telling us there is nothing to worry about and things are going along just fine.

FKC - not sure what interest KAV will generate in advance of the next drill programme. Does this RNS suggest that no drilling programme announcement is imminent, or are people more inclined to think that KAV will announce a drill programme as soon as it is completed?

I must confess that I am TOTALLY BEMUSED how this time last year, we were being repeatedly told by BT in interviews that drilling would commence at KCB in circa September 2021, and they were just awaiting the EMP. There was even talk of
a second Rig being needed, etc, etc. What has transpired since has been totally different to what was being said back then. I appreciate that this work is necessary to optimise chances of success, but why did they indicate something completely different. This still hasn't been explained. It's almost like last year didn't happen and has been erased from memory.

Not a lot of interest generated from this mornings post. Not a single trade seen yet this morning.

To be fair to KAV on the timescale at the KCB they probably have been impacted significantly by COVID so some delay / slowing down inevitable.

"They haven't just been s sampling over the last 15 months..
You can position it how you like, doesn't make it accurate."

Happy to be proven wrong F79. maybe you could help us and point us to what else has been done on this license?

Kudu could just turn out to be the jewel on that 036 PL , understand many on here who are running low on patients but it's coming together nicely.

Not really sorry on at all.
They've multiple areas being progressed concurrently..
They haven't just been s sampling over the last 15 months..
You can position it how you like, doesn't make it accurate.
Of course we want them to drill. They will do so in a few months or so.

Atb

The map is now accessible and to my untrained eye the Acacia and Morula targets in particular look very compelling. Interested to hear Keith’s take on them.

I would like us to be moving faster and to be drilling imminently but I also recognise the value of the work being done to get this right

Spot on TK95 (x2). I see the penny still hasn't dropped for some. Admittedly, it took me a while because I didn't want to listen to the naysayers. Let's see when the drilling starts.

The discussion on Cobre gave BT an opportune moment to update the market. The cobre announcement illustrates the importance of the D'kar and the Ngwako Pan contact. He took the opportunity and updated us which was good - than you BT. I also would prefer to see a drlll announcement but I think doing the right prep is important. I guess they are working through the issues of getting land access which I assume is standard for an explorer. The good news is we have another target - is it an antelope?

Morula and Acacia geochem targets first announced 14th of May 2021
15 months to get... more soil samples

And what does this mean

"Remaining samples will be collected as and when access to land is available."

Spot on TK95. This EMP has been in place 10 months yet we've still got various follow up work items outstanding before we can think about an RC drill.

We're getting there, but I'd hardly say KAV has worked quickly in the KCB.

The maps should be interesting.

You must be kidding? 5,145 soil samples collected since October 2021 with infill sampling still to be done

I hope everybody wo has been complaining about lack of progress on the KCB gives this morning's RNS a good read through to see just how much work is being done. The map links will be working shortly.

Hi Keith, the DHEM was done in two parts, to c780m and then c1000m, they had loads of problems with heat, batteries, the line wasn't long enough, concerns about shifting clays and unstable hole where it wasn't cased, & DHEM doesn't like steel casing. A difficult drill but fair play they got part one of the DHEM completed, the images showed they'd just clipped the Proterozoic and they recovered 349m of Proterozoic core, there were 3 distinct bands with the first corresponding to a core photo (depth marked on core). There were no deeper core photos corresponding to the two much larger bands which I find odd hence saying BT is keeping stuff back.

The second part of the DHEM 780-c1000m was delayed due to the B1 drill so they went back a month or two later, the main issue was hole integrity. BT made the odd noise but he never definitively confirmed if the DHEM was completed and there were no images so make your own conclusions.

3 March RNS
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w9km1er

This does not say anything about true location or scale of the target but KAV did show an image in the accompanying presentations, basically a blob with TA2DD002 clipping the side, there was very little detail and I certainly did not hear any comments about the depth of the main target.

The facts are the final petrology report and assays are outstanding and its been 10 months since the hole was completed.

Keith, Thank you for your knowledge and insight as always and for instilling a bit of sense into the discussion.

JP - re TA2DD002. I don't see why you think Ben is not revealing what is known about the magnetic anomaly detected in this borehole. The initial DHEM was announced on 29th October, suggesting that the magnetic anomaly was within 300m of the borehole at 780m, with total depth of 10001m. RNS on 3rd March announced that following further interpretation of EM data, the main magnetic target was not deeper in the borehole, but 350m to the east, and that shallow magnetic Proterozoic rocks were likely to be found to the NNW & South. Using this revised magnetic susceptibility model, they concluded that there was a 30km strike of potentially mineralised Proterozoic running south from the GRS. Initial petrology report RNS'd on 3rd March showed some sulphide mineralisation.

I conclude that Ben's excitement was that KAV had found indications of a 30km trend with good potential for NiCuPGE mineralisation, not that he was concealing something more specific.

I'm believe we will commence drilling later this year personally.
I also thought the pow deal was alright given the premium to share price and the independent valuation that followed. The majority of the dilution is only relevant if POW exercise the warrants (at much higher prices than the current market).

The markets are broadly frustrating at the moment. Kav and many stocks are the victim of the macro environment.

I agree with the comments that drilling will need to crack on if BT and the team are to actually make this the 'year of discovery'.

Should be an interesting H2

Atb

I understand your frustrations about the drilling delays and inconsistent messages from the Company. Ben is certainly feeling the pressure of the SP decline and really trying to spread the word.

However, the way I look at this is - at some point in the next few Months we will be drilling the KCB and KSZ, both of these have an outstanding chance of becoming a hugely significant discovery. Years of work have gone into modelling and analysis of both targets to ensure the greatest chance of success.

The current Market Cap is like 8 million, which is ludicrous really. But the volume here is miniscule, small little buys and sells. Until Kav can prove it can successfully match their extensive modelling by proof of discovery and not proof of concept then this will remain at these dull levels.

If this really is going to - quote Ben ' Year of Discovery', then Kav better get their skates on because the year is flying by. Based on the information and communication provided by the Company late last year, shareholders expect results this year. What keeps me hopeful is if we do make a discovery then the SP won't increase by 100 - 200%, it will be a much larger multiplier given how suppressed we are right now.

Chin up and good luck all!

"We plan to increase our knowledge through drilling in H2 2022." How about saying "we WILL drill this year, and it's going to commence xx/xx/22."

I don't believe they will drill the KCB this year. There were vague suggestions of it starting a full year ago. So until a timeline is published, saying exactly when they intend to drill, I don't see why any LTH would feel motivated to add, even at these prices. The dealmaking with POW has made me even less inclined to buy more shares, because I'll be getting even less for my money. There are so many other opportunities out there. Let's see some action.

Good point JP. I’ve also added but am not doing any more for the time being. Need to see some results from them now rather than the constant BS theories we keep getting.

Completely agree. BT might be a good orator but less impressed with the communications and recent commercial strategy.

KSZ TA2DD002 is a good example. The core photos looked promising and BT couldn't contain his excitement but then no assays and only partial DHEM pictures. The interesting point was the depth of the best core photo wasn't the strongest EM reading, so I think BT was sandbagging and knows exactly what they found. Turning round and saying 'proof of concept' means no obligation to publish assays is playing footloose with the listings rules and in the context of a 6pm on a Friday special presentation.

Putting all this to one side, I've been accumulating shares over the last 6 months (over a dozen buys) because I'm convinced KCB and some of the shallower KSZ targets will come good.

JP this inconsistency in their messaging seems to be a constant theme and no doubt impacts investor confidence. We seem to have had very limited new investors in KAV for many months now and the company needs to get a grip of this and stop over promising and under delivering. The KSZ proof of concept has been ‘nearly ready’ now for so long most of us have forgotten about it and basically given up on it. All we seen to get is the same old info recycled on Twitter and that is not likely to make any difference. What we need is meaningful updates via RNS like normal companies do. Personally I’ve massively reduced my expectation of a decent RNS from them anytime soon.

Ditau is another example where they rushed to tell us they were rushing the assays but now they have received them they seem in no rush to share them. Again I have low expectations for these now but would be delighted to be proven wrong.

FK: if there is a delay (and surely weeks not months) the clue to was a couple of months ago in a joint Ben Turney / Brett Grist interview. Brett is asked this very question and spends a good 3 minutes waffling and eventually says end of Q3 (sept). I couldn't tell whether it was poor presentation skills and nerves or if there was something going on in the background, perhaps all 3?

Spot on Bozi!

I enjoyed the interview with Brett Grist where he said: ‘if it’s there we’ll find it’ - or words to that effect!

By which point we'll have less than 12 months remaining on the EMP. Hopefully the process is straightforward to renew it.

Everything still points to the KCB being our company maker. It really is that clear cut.