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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.
Https://www.valuethemarkets.com/analysis/kavango-resources-kav-stock-rises