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Hi SirGBoycott
My thinking is that why waste any more time and money going down to 1005m when 900m drilling gives you enough confidence about their geological model.
GLA
I wonder why only 900m drilling when the plan was 1005m?
- Two diamond core holes are planned at the Mwaka Target for a combined total of approximately 505m. The holes have current planned depths of 264m and 241m and are designed to test two discrete high-priority conductors which were identified during the 2012 electromagnetic ("EM") geophysics survey.
- A single 495m deep diamond core drill hole is planned at the Mihanza Target
I was thinking that we might be rebranded as Katoro Nickel, now I'm thinking Katoro Chromium might be better suited to our assets going forward.
GLA
I just posted this on POW bb. Worth a read imo.
https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjKyqOsi__1AhUHCsAKHWXaCA8QFnoECAUQAQ&url=https%3A%2F%2Fwww.sciencedirect.com%2Ftopics%2Fearth-and-planetary-sciences%2Fserpentinite&usg=AOvVaw1_B6zD1Pjs3wwjrOE1F8vN
Hi FG
You are absolutely right.
I think the management are quietly confident in what they have found- by the sound of the POW RNS.
I might consider topping up if there is any downward pressure on the SP.
GLA
Prof. I was thing the same! As for asking him? Not sure that he will appreciate the "potential" cross-ramping. Especially in view that some in the KAV camp seem to be minded to sell.
Surely, there is someone who posts on this board who doesn't mind sharing their knowledge?!?
Sorry for being so non-committal.
ATB, FG
FG
Wouldn't it be nice if Keith, who is in KAV, was here to analyse what they are talking about in the RNS. Is it worth asking him? Cheers.
It seems like the POW shareholders are a tad more enthusiastic about the RNS than we are!
Can LC finally have some success
This line speaks volumes:
What we can say is that we have seen thick sections of ultramafic rocks and have postulated that the anticipated geological model has been demonstrated from the core recovered.
Enough said. Wait for the valuation to catch up with what is on offer.
When they state that one drill hole hit ' massive serpentinite and gabbroic rock at depth' one can assume they are pretty confident.
GL.
The following glossary from POW RNS to interpret the drill results at this stage may be useful:
Glossary:
· Serpentinite: a green coloured rock formed through the low-temperature metamorphism of ultramafic rocks from the earrth's mantle. The metamorphic chemical reactions convert unhydrous ferromagnesian silicate minerals (pyroxene, olivine) into hydrous silicate minerals (serpentine).
· Gabbroic: rock within the range classified as Gabbro which is a coarse-grained, mafic intrusive igneous rock formed from the slow cooling of magnesium-rich and iron-rich magma. Gabbro is found at the mid-ocean ridges and as plutons associated with continental volcanism. Gabbro intrusives can be associated with chromium, nickel, cobalt, gold, silver, platinum and copper mineralisation.
· Peridotitic: related to Peridotite rock, a dense, coarse-grained ultramafic igneous rock consisting mostly of the silicate minerals olivine and pyroxene. Peridotites is often a constituent in the layered igneous complexes that can host platiunum group metals and nickel.
· Ultramafic: Ultramafic rocks are a group of igneous and meta-igneous rocks with a very low silica content (less than 45%), generally >18% MgO, high FeO, low potassium, and are composed of usually greater than 90% mafic minerals (dark colored, high magnesium and iron content). The Earth's mantle is composed of ultramafic rocks. Intrusive ultramafic rocks are often found in large, layered ultramafic igneous intrusions where differentiated rock types often occur in layers and metals can be concentrated.
Not sure of what to make of this RNS. I have copied the following from the POW RNS:
------------------
Now that the physical drilling has been completed we move into the core logging, sampling and testing phase, and clearly there are various elements to this.
We are cautious with early interpretations until the core logging and testing is complete. What we can say is that we have seen thick sections of ultramafic rocks and have postulated that the anticipated geological model has been demonstrated from the core recovered.
We are encouraged by the technical and geological success so far and look forward to providing further updates as and when they become available."
--------------
I guess it's watch this space.
GLA
Makes sense. Thanks!
It will rise and fall in anticipation of drill results as people try and time an entry - just hope for once they can get something right.
Was this a pump and dump?…
Patientser0 Are you still asking questions you could easily look up yourself or ones that have been answered for you.
KIBO does NOT fund KAT. Full stop. KAT is a separate company in which KIBO owns shares
Out of interest do you hold any KAT / KIBO shares?
After hours RNS today?
Believe they hold around 20% of the company.
Power Metals and Katoro will 'fund' current and future drilling (maybe Kibo if they participate in future capital raises).
Note Katoro raised £800k at 1p (above the current share price) in November. There are warrants from Power Metals (1.3p from memory) and that capital raise has warrants (1.5p) which will fund the company further for future drilling and other projects.
Current drilling wont cost that much and so will have funds from the previous raise for further drilling. Note their nominal value is 1p and so buying under 1p is maybe an opportunity.
The capital raise prior to the £800k at 1p was at 2p and trading between 2.5-3p prior to that. Could be a nice squeeze if they hit on this drill program. Paul Johnson is very excited over at Power Metals about this program.
Just added 902994 shares.
PZ. No idea, but I won't care how we fund things going forward if we hit massive sulphides. News must be very close, even if it's only a visual assessment.
GLA
What’s KIBOs current holding in KAT? And does anyone know the funding arrangements moving forward, is KIBO obligated to fund any further drilling etc?
this turns out to be the next GGP?
Cliveas. Not sure if we are brave or stupid, but hopefully we will be well rewarded for our patience.
ATB, FG
Written all over it if results are half decent!
POW rns yesterday.
Patience favours the brave!
GL.