Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Https://www.telegraph.co.uk/business/2024/05/02/world-poised-on-edge-new-copper-supercycle/
Right place, right time?
It could be argued from your recent half a dozen negative posts, that the shenanigans are coming from you JP, and not BT! He has just secured another £3 million from PB without any discount or warrants. The funds will allow the KCB to be drilled in 3 months and not 8 months, as well as continuing the fine work so far in Zim. If you have a target of 1.5 million ounces, you are going to have to pay for the project/licence. None of it is going to come cheap unless it's moose pasture land being paraded as golden! If KAV get to even a quarter of that target and mine it, it will represent a bargain!
What is there to moan about right now? Would you have preferred the traditional discounted placing with warrants, which also would have involved dilution? This work isn't going to pay for itself, and we are very fortunate to have PB doing the heavy financial lifting. Retail also had the opportunity to partake.
I'm delighted with the way things are going at KAV 2.0 right now, and looking forward to what I think will be an even better second half of the year. But all imo and GLA.
https://twitter.com/pauljohnson9691/status/1785681780080509301
Trust in Ben Turney was at rock bottom 12 months ago given multiple failures, operationally the situation improved, but then he gifts himself 3% of the company, withholds information from the market, suppresses the share price & raises , then renegotiates an atrocious deal, also says they're not going to bother with JORC, FFS. KAV is a main market listed PLC, suggest if Ben wants to continue these shenanigans he takes the company private.
You can't buy at the financing price now. Bring on the 5000m at the KCB. I think it will be a massive game changer for KAV 2.0. GLA
Stick it on the Telegram group and I'm sure Ben will reply.
This deal is between $1.6m and up to $3-5m depending on the share price worse for KAV shareholders who incidentally were diluted yesterday by issue of 19% more shares.
What on earth is the 5% royalty for??????
Leopard North resource is 200,000oz non compliant & we know nothing about grades, cut offs, depths, or upside potential. Total option cost $1.6m-2m so c$10/oz on the stated resource. Realistically KAV would have to find 1m-1.5m oz to justify that price
JP - this drilling campaign has been a few years in the making already. They have done LOADS of prep work, including before DC came on board more recently. So it's about time they drilled the KCB. PB have now put £9 million into KAV, and I am sure they will want to see a return on their investment soon. So KAV have to get moving now and deliver for PB.
It's so much better to have a 3 month campaign with two Rigs on the ground, than have to wait 8 months. The latter also actually costs more, as there is more cash burn along the way, as BT explained. This also allows them to decide where future resources are best deployed - gold or copper or both.
The amount of skin in the game the CEO and FD have they'll be keener than anyone to maximise the value for shareholders. Ben said himself he wants to get this to 10p and then he can retire.
There is something about the Karakubis drill/results which KAV is not disclosing, why they are rushing the drill? I don't buy KAV saying "it saves overheads", its either got something to do with warrants expiring or a major fund raise or a deal they're working on. Normally they'd do a quick proof of concept campaign, mull over the results and then decide next drilling taking 6-12 months. I just hope KAV management extract maximum value for shareholders.
Yes, BT said they were looking to have assay results in Q3. And seeing as most of the funding is now coming from Purebond, I don't think there will be any such tactical considerations going forwards.
Do you think KAV will release full assay results for KCB before the next fund raise because this is a crucial question?
I don't think it's lack of interest, but more to do with the fact that the bookbuild was not at a discount and so private investors could/can buy on open market (and for a little less). This is a tremendous show of conviction and confidence on the part of Purebond and the BOD. They are clearly feeling very confident indeed, and why shouldn't they with the progress and results achieved in Zim to date, and the major drilling programme planned with Dave Cattrall at the KCB to start this month. This was the perfect time and indeed price for them to inject the extra cash into KAV 2.0.
As BT said, the next 6 months are going to be the most exciting and potentially transformational for the company. All imo and GLA
It's not a suprise no, but it's a better result for existing shareholders that as legalwolf says they are in sticky hands. It also shows confidence and conviction from those closest to the business.
Book build has completed.......private investors not convinced:
Of 257m new shares, Purebond take 221m, Directors 18m, private investors 18m (£22k).
Is anyone really surprised given the shenanigans? Predict an RNS on Friday for withheld assay results & RNS Monday outlining huge targets in KCB.
The money has been raised - pretty much all of it in sticky hands as well. Watch KAV 2.0 motor on from here:
"We are pleased to have secured a further £3.08million finance for Kavango. The accelerated bookbuild was an innovative funding approach that was only possible thanks to Purebond's strong support for Kavango and has helped us defend our recent share price gains in difficult market conditions.
We will use the funds to accelerate our various drill programmes and will continue to move forward at pace, as we explore for bulk-minable gold deposits in Zimbabwe and large-scale copper deposits in Botswana.
The second half of 2024 holds a great deal of promise for Kavango and our shareholders."
Legal, the main value drivers are KCB and getting into production and it should spike on any declared discovery. Until last week I thought Hillside/Nara resource would have a big impact particularly if they find 3m oz but the Ariana/Rockover deal for 1.3m oz was very low c$10/oz, nuts when gold is $2300/oz.
That's a blockbuster set of activities lined up by KAV 2.0. I think we will see 2p in no short time once this financing is complete. All imo and GLA
I think they'll be another raise in Nov/Dec.
§ Diamond drilling to test presence of multiple economic gold ore bodies in Hillside/Nara gold belt, Zimbabwe
§ 5,000m diamond drill campaign to prove the Kara Anticline is a copper-mineralising system in the Kalahari Copper Belt, Botswana
§ Completion of Hillside acquisition (announced >>> 23 April 2024)
§ Capital investment into Kavango Mining to increase gold production (announced >>> 08 March 2024)
§ Increasing project footprint in Zimbabwe, through securing additional options on projects
Now we are fully funded for the rest of the year with cornerstone investors and no warrants to endure. Excellent financing again by BT. Great chance of making a copper find with two Rigs on the ground and 5000m of drilling to be done. Certainly mean business here.
That was Ben's response to a question about size of minimum amount for the placing.
Hi James
Apologies this was something we had overlooked. FE’s minimum ticket size is £10,000
Jason has just agreed to reduce this to £2,500 for this deal. They have overheads and we are paying a small commission on this
If anyone enquires to make a lower order I’ve asked Jason to point them to me. Tbh for any amount at £2,500 or lower it would probably be more efficient just to buy in the market
Https://www.valuethemarkets.com/analysis/kavango-resources-kav-stock-rises
Interesting table this:
https://twitter.com/andrew_neal7/status/1783438675650412987
Last night's rns may have been missed.......
23/04/2024 5:12pm
RNS Regulatory News
RNS Number : 7432L
Kavango Resources PLC
23 April 2024
23 April 2024
Kavango Resources
("Kavango" or "the Company")
ZIM - Hillside Option Exercise
Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce that it has provided notice of exercise of the Hillside Call Option to the vendors of the Hillside Project ("Hillside") and Leopard South Project ("Leopard South"). Kavango intends to extend the Call Option on Leopard North to 30 June 2025.
Purchase agreements for Hillside and Leopard South are being drawn up by the Company's legal representatives and completion is scheduled for 15 May 2024.
Summary
· The Sellers and Kavango entered into call options in respect of the Hillside, Leopard North and Leopard South projects in a Call Option Agreement ("The Call Option") dated 25 July 2023, (announced >>> 25 July 2023). The Call Option had an initial term of six months, expiring 24 January 2024. This was subsequently extended, pending negotiation of revised terms following introduction of the Special Capital Gains Tax in Zimbabwe. Any material revisions to the terms will be announced in due course.
· Kavango has served notice of exercise to the Sellers, effective 23 April 2024.
· Completion is expected to occur on 15 May 2024.