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And so it begins…
Poor Ben Turney
What a guy
Big potential ahead
And the best of the lot ‘ it does sound like the potential of the project overrides jurisdictional issues.’ - if only it was true!
Let the ramping begin!
Just listened to the podcast. You have to feel for BT. He sounded very sombre and has taken some unfair and extreme criticism of late. As he reminded us, he has a lot of shares in the company and this has hit him financially as well, and he was as desperate for success as anybody else. I also thought the comms on this KSZ drill were fine, so don't know why there have been accusations of radio silence. They didn't ramp, kept it factual and actual and told us as soon as they had reached TD. Can't really complain with that?
The most re-assuring aspect of the interview was to hear that PB will honour the agreement reached at 1p, so we are currently trading at a near 50% discount to the financing price. And the Zim project does sound very exciting, or at least BT's excitement for it sounds very real. Although its not an ideal jurisdiction at all, it does sound like the potential of the project overrides jurisdictional issues. Sounds almost like an existing discovery in some respects, but certainly one with lots of untapped potential. Again, it could be transformational if they drill and find the source of the more surface level mineralisation. With a 4.2km strike length, might even end up with a sizeable resource.
Questions for me are why Zim over Ditau, and why no return to KCB until Q1 of 2024.
Agreed. Ultimately as shareholders we expected the highly prospective target at the KSZ to be drilled. In fact, many requested Ben do precisely that, when it was perceived he wasn't going to. No one can put the discovery into the earth. They can only find what is (or isn't) there. The KSZ has always been a high risk project with the Kalahari sand cover, no ability to use surface sampling or visual assessments.
All Ben could do was make the call to start the drill and make the call to stop the drill. He did both, and the second part very expeditiously.
Also, while dilution is never a beautiful thing for existing investors. Given the outcome on the drill, it seems it was a rather prudent risk managed approach and PB appear keen to honour it.
We've all lost capital on this at the moment, but the decisions are our own. While we must hold the management to account, we must all be objective and fair in our judgement.
ATB.
Here is the link to the MF interview:
https://www.youtube.com/watch?v=4VKcLgeKggk
If KCB and Zimbabwe represent better and clearer chances of making a discovery, then it absolutely makes sense to go for them first, rather than test another emerging hypothesis such as Ditau, which is still receiving external input from Prof M. And I am sure this is what PB, BT and the BOD will want as well. In any case, we will hear BT's rationale.
Well Ben's done the intview last night and hopefully addressed all the questions requested by Mark Fairbairn over on Telegram. Ditau definitely being one of them. Should be released soon!
Lets not forget in March/April Turney was prepared to rush into the Ditau drill which on the basis of the publicly published material looked highly speculative . The last RNS states "Meanwhile, we will preserve our working capital for redeployment to the Kalahari Copper Belt and our new Zimbabwe gold opportunity." suggesting Ditau is no longer a priority. Whether this statement is based on capital rationing or a re-evaluation of the geology is unclear, perhaps both. I agree with the statement but don't think this was due to Turney suddenly becoming wise.
Mr Robo - I agree, and I do think that KAV have already done that to an extent already with Ditau and KCB. Therefore, the next campaigns at either of these projects will likely be met with renewed optimism and expectation imo. Doesn't mean they might not disappoint, but I certainly think that they with each generate buying from these levels. Just need the next RNS from KAV now.
Sometimes, the best opportunities in these stocks are when they've just taken a hit and landed on the floor, but have the projects, cash and newsflow to then pick themselves up. KAV very much in that category for me, so I've been adding. But each to their own and GLA
Yes agree too. We had to drill the B1 with readings like that! How could we just ignore it! As soon as the cores came up, he stopped to conserve funds and reported the bad news! You can't really ask for more than that. All I ask is he resists the urge to rush straight into another drill campaign, can we please take a step back to try to understand what we "don't understand" if you see what I mean.
Legalwolf. I agree, for good or ill, BT did the right thing in drilling the B1 conductor. It's what you expect an old-style Head of an Exploration company to do.
Mr. Turney is likely to develop from his experiences here, so far at our expense. I hope that he matures into a wise, honest, and honourable CEO.
ATB, FG
BT did what KAV investors were crying out for, he arranged for the B1 conductor to be drilled. It's turned out to be a duster and that's not his fault. He's not the geologist here, and if there is a fault, it has to be the responsibility of the whole team, not the CEO.
Anyway, a sharp bounce incoming here, if or when, KAV announce their next drill and/or completion of the PB financing. I am sure BT isn't going to rock up to the investor event, without any positive forward looking news to announce, and KAV will be doubly determined to get to some positive newsflow after this disappointment.
Therefore, this could be one of the easiest 50% - 100% bounce back opportunities you will get.
Completely agree StanAccy. The company need to wake up to the damaging affect he's having on investor sentiment.
Anyone viewing his historical podcasts will surely have doubts about investing. He has an unhealthy relationship with the truth, distorting facts with sentiment.
Will Turney turn up for his presentation?
There’s nothing left to spin, his track record is abysmal, IMO he comes across as a blagger When asked meaningful questions.
As Victor Meldrew would say "I don't believe it"
When those who have had enough are done and out, I'm thinking this might be a good candidate for a bounce back.
Especially if the financing is still going through at 1p. KSZ was the least probability target, and so all they need to do is announce their plans to target their higher probability projects, whether KCB, Ditau or Zimbabwe, and it should bounce back from these levels. Or at least there's definitely some upside to be had from here you would have thought? All imo
as the ditau assays were due in early may (according to bt in april presentation), i think it safe to assume that they didn't indicate an iogc. ben never releases negative assay results. looks like we are now relying on finding gold in the zimbabwean **** heaps!!!
What's going to happen to Ditau has that been abandoned too.????
I think Pure Bond are more likely to take KAV over for below 1p a share than take option 2 funding up which IMO is now a goner.
Purebond may decide to take it private?
Not sure how Ben thinks the upcoming webinar will help. Constantly promising and constantly failing to deliver. His words and sentiment have no value whatsoever.
It is no surprise that the SP is trading at historic lows!
"Kavango will now also finalise the prospectus for completion of the £4.6million investment from Purebond that will move ahead on the terms agreed in May."
Now that the share price is so low will Purebond go ahead with the deal?
If they pull out where will that leave Kav going forward?
?
All the best metal head.
KAV under Ben Turney have been very good at 3 things
1. Locating dust
2. Doing dreadful deals
3. Destroying shareholder value
The red flags pre drill and pre RNS where all correct.
I suspect without any evidence they knew KSZ would be a duster , thats why they barely mentioned drilling it until they read the forums, its why they didn't pumped the drilling, its why they haven't ever released details of what was found the first time at KSZ, etc.
But what should disappoint PIs the most is the leaky nature of the company and plenty of sales in the past few days.
I suggest you all write to the FCA about the selling patterns and ask them to investigate.
They only investigate if you ask them.
The more of us who write, the more likely they will investigate.
Many red flags remain with Kavango.
Buyer beware