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Updated broker's note contains the following:
"With net proceeds of £5.9m at its disposal, Kavango Resources is now probably one of the most well financed micro-cap exploration companies listed in London."
"Since the middle of July this year, the shares have traded below the 1.0p placing price and continue this pattern today after the issue of second-tranche shares, with a discount of around 25%, at a bid-offer quote of 0.70p-0.75p. Pricing anomalies such as this do not last for long. We therefore recommend investors take advantage of this short-term buying opportunity to invest in a well-funded exploration company that now has the financial resources to advance its projects in both Botswana and Zimbabwe. Moreover, the prospect of near-term revenue generation from the gold tailings Nara interest provides an extra dimension to the situation."
And it's good to see the decent buys coming in now in the 0.7s. Hopefully there will be decent early results coming out of this Zim gold drilling. GLA
Is KAV starting to stir and catch this gold rush? Latest tweet from BT (copied below) suggests some positive gold news could land here fairly quickly. Last few trading sessions to get in here in the 0.7s me thinks. All imo and dyor
"We’re underway at Hillside. Our #gold exploration strategy in Zimbabwe is simple
We are looking to explore projects that have multiple high-grade gold zones & untested potential for bulk-minable deposits. The “secret” is the material between each zone. If that has enough grade…"
KAV are keeping the campaign low key at the moment, give it 4-6 weeks to see what the mood music/body language is. Drilling will continue to mid Dec, break for Christmas and resume mid Jan. I see Jan/Feb as key months with news on Hillside & Karakubis to move the share price. Can see the share price in range 0.8-1.1p over next month.
I agree with the general timeframe. To be honest, I'm as excited by Karakubis, as I am with this Zim drilling. The latter shades it only because of the expected rise in the POG over the next quarter, which makes a project like Zim all the more timely and exciting, and any early gold strikes will be much better received than say if it was this time last year, for example. All imo and dyor
Karakubis is an interesting one, originally third on KAV's KCB target list but KAV's new KCB guru prioritised over the others which were significantly more advanced. Then KAV adds neighbouring licences & drill results from ENRG which I've said was a great strategic move but its eaten in the second tranche of Purebond cash. KAV have committed to 4 holes for a proof of concept and if successful then KAV really ought to prioritise because its probably the most attractive to large corporates like Rio and Sandfire (or even the Chinese). A $30-50m payday is probably 18 months away but it would be transformative and fund the Zim projects.
At this rate, there's every chance we might get to 1p just as things are. Price is ticking along nicely, and just been quoted 0.85p for £5k, suggesting it won't be much longer before the stock in the 0.7s is soaked up. If we get to 1p without news, then that's an even better launchpad for any positive RNS to land into from this Zim drilling.
Just been quoted 0.84p for £1k now. This is about to pop/breakout to the next level.
9.5 million buy gone through at 0.8p. That's some fill!
I wonder if they have hit something already?
Its outrageous, one city rule for the rich another for the plebs, how is it possible to amass that size trade when we're told 65% of shares are tightly held, without SP rising?
Yes, I was thinking that myself. Made me wonder whether it is an open market transaction or how delayed it has been? Ridiculous given that the at market quote is 0.84 for £1k!
Be interesting if news lands next week.
GLA
So why do you think it outrageous?. If 65% is in tight hands it cant be too difficult to work out where the stock has come from.
Well, if those shares were bought on the open market in a single or series of trades it would have pushed the share price up 10-20%. Somebody has got mates rates & the result was no
..result was share price was unchanged from that transaction
Someone forgot about their pending order!
Well trade was executed on the "open market". If you had wanted to buy 9.5m shares you could have instructed your broker to bid all the holders for that amount.
If you want a share price reaction then you need to wait to see who them and who bought them. Just maybe there is more to come.