Member Info for Bozi

Warren Irwin is an absolute disgrace.

Their was "hair on the name" as he puts it due to the continual bleating from him, his mates Brooke and Greg and the theatrics from Sandeep.

He ought to remember that when making those comments. Nick stood aside and yet the sniping continues. Unprofessional and unfair to say the least.

Mike29- the company will annouhce the details in a corporate action. For example, they might say that for every IRR share held at the record date you will get x shares in the NewCo.

X will be determined by the price point and opening share capital for NewCo. I suspect this is why Liberum have been appointed.

Interesting news all the same with more pros than cons i think.

Wait for a big sell or two reported after close and it should tally up.

Hi Ricardo

Hillary has been our chief geologist for some years and instrumental on the ground in getting us this stage.

I think it's a good appointment that recognises his efforts.

As we know Kavango keep a tight control of G&A overheads and therefore this appointment is not one taken lightly.

Mr Gumbo also has a significant shareholding in the company.

Cadell - then we move to DFS (which may follow fairly soon after if rcgl2 is correct about both studies being progressed in tandem).

Following DFS we will see an investment decision and a financing package.

This all feels quite clunky and slow but that is partly because it is. We're talking about a large discovery, the largest not in the ownership of a major company.

SOLG have raised funds every year, carrying out their 2021 raise recently. It has been well documented that certain shareholders think that BHP and Newcrest control the register. The company can only spend what it raises in the markets and they can only raise what existing and new shareholders are willing to throw into the pot.

We've been told by a few for many months now that a bid is coming but we roll into June next week and well, there's no sign of one yet.

One point i have tried to make to investors is that if they seek a sale or takeover play then they should look at the assets held by companies who are actively marketing such a strategy. They do exist. SolGold, whilst owning some fantastic assets, will be happy to progress things as long as they need to. Investors just need to be aware of this and be patient.

Grimbergen - the company's goal is to develop a tier 1 copper gold mine and reproduce that blueprint throughout Ecuador.

It isn't to provider shareholder returns in the quickest time possible.

We know:

~ the revised PFS for Cascabel is due later this year in Q4.
~ the MRE for Porvenir is due in the coming weeks.
~ the other tenements making up the high priority portion of the regional portfolio are being worked on.
~ discussions regarding partnerships for lower priority projects continue with prospective suitors.

There's many different workstreams running in parallel and a big news item could drop on one at any time.

Paul - there is of course some risk particularly given that Kavango's previous drill campaign found saline water. However, what you aren't considering is that it also intersected a magma plumbing system and primary sulphides.

Also, as Ben explained, the conductivity reading of 3000 siemens is very encouraging but obviously not conclusive.

The idea was to be in this early and wait. That itself mitigates the impact of a less than desirable result on the KSZ, particularly given the promise of the KCB assets (don't forget KAV have their own licences outside the Kanye JV with POW).

All to play for.

Absolutely FKC. But remember that as a company makes a discovery of quality it grows significantly and that gives opportunities to raise capital at more realistic levels.

If a significant discovery is made then absolutely there will be development costs. Lets park that for the time being as it is that far down the tracks.

Lcbb makes the point i was hinting at regarding timing. Giving away, say, 50% now for an assumed £1-2m versus giving away 30% after a significant discovery for 50-100x that amount just makes it a no brainer.

I'm not sure there's a JV being discussed just yet. At least i hope there isn't.

After a couple of years in the field doing intense work it is imperative that KAV keep the full KSZ prize for now. If anyone wants to join the fray post a discovery then I'm sure our door will be open. A discovery enforces our argument so much.

The fact that KAV are discussing a strategic partnership with someone not previously mentioned suggests to me we are happy and confident to go it alone, drawing on the expertise of Mira, Spectral, Dr Howells, Aarhus etc.

That's one of the things that has impressed me with this story. KAV have an exploration hypothesis ans they have many esteemed contacts who can verify or challenge our geo's findings.

2021 is proof of concept. Norilsk. Mining. Centre.

I see your point BCB. For those who want short-term volatility to trade around then yes, i suppose he is useful.

I look at POW. Will they achieve anything of note outside of the KAV JV on the KCB? Unlikely, despite the diverse book of interests. We haven't heard stacks about Ditau since PJ and POW took over as operator, have we?

I'm a longer term investor, so my preference was for a larger more credible partner, which should have been possible given the postcode, not a company of a similar size to ourselves with similar restricted means of raising capital.

But what's done is done. Hopefully it won't detract from what happens here in the long run. Happy to agree to disagree because i certainly won't be swayed from my view and i doubt you will be too given your interest in both companies.

FKC - i consider the views about not investing in a PJ run company to be well-founded.

I'm not going to delve into specifics because this is neither the time nor the place but what i will say is that there's rarely smoke without fire.

I wasn't enthralled that after a period where KAV talked about getting an industry partner that they ended up doing a deal with PJ and Power Metal.

I can see where it fits their model but not really where it helps Kavango.

Genghis - i think i was one of those who were advising caution over Turney's history.
A couple of others on this board at the time tried goading me into selling but i bought KAV in the days after IPO and topped up at prices between 0.65p and 0.85p around the March 2020 lows. I certainly wasn't going to sell a story like KAV over one appointment. I trust the board did their due diligence and Turney has done a good job to my eye since taking his role. Apologies if my comment was a deterrent. It wasn't my intention.

I hope his clear, measured communication continues and he continues to graft for KAV. He is in a good role and whilst that means developing a technical knowledge of our projects, there's no other pure explo play on the market quite like Kavango.

Time will tell what the surveys and subsequent drilling turns up but if it's what we hope it might be then all the board stand to make their careers and some, and there's some fairly distinguished records amongst the BoD as it is.

There were plenty of takeaways from the Vox webinar. News should carry on rolling in during the coming weeks.

Nope, not critical of anyone Swest42. I've held this view for a while though. If i thought Vince wouldn't deliver I'd have sold.

Yep I'd love to know when we're going to get cracking on our starter pit and where we might find the cash, what peiod we're looking at for construction and what else we have to complete in terms of mining and enviromental plans/ applications and operation design.

Lots of info locked in the vault of IRR towers.

There's a lack of interest generally in IRR because the narrative is intentionally to keep traders away.

So you get left with long term investors, a small number of traders who will have a go anyway and the big holders.

We know full well the Assore's, Sumitomo's and even DGR's can outwait PIs in the main.

We have a growing lithium resource that has robust economics and good metallurgy. We have a burgeoning gold resource the early potential of which we're about to find out soon with a free dig component.

Investors want to know when and how.

When are we going to produce and how are we going to pay for it.

If Vince shares that detail then this flies. But he wont, so we aren't.

That's about the crux of it.

Thornback: re your 10:51 post... hardly.

We're talking about the board selling a few shares in order to buy more back at a price they are entitled to as part of a previous remuneration package.

If your post was true then I'd be telling myself to go fcuk myself. Even for me that is something...

On the basis they are early stage explo Levi with little to nothing in the way of JORC-able resources and no revenue.

Those are the companies that live off every cheque from the market and so they are the companies where you want and need the board to have significant skin in the game.

UOG less so. Larkin has got the company to a stage now where he is very close to being expendable. That doesn't mean i don't think he should be conservative with any financing of the company - value can be destroyed quicker than it is created, but i genuinely don't think this warrant conversion does that, or anything close to it.

There's a good reason the board of PALM aren't paid nearly as much Levi and had they exercised with partial sales in the same way there would rightly have been questions asked.

Reading this board this morning i get the impression that investors think Larkin is here to make us wealthier, at his own cost if necessary. That's not really how private investing works. We are the bottom of the food chain.

Larkin and his board build the company. As they achieve and grow then their remuneration grows. As the company grows the share price grows and we become wealthier as a passenger on that ride.

We don't choose the assets, we don't derisk them. Let's not forget the UOG strategy here of organic growth to fund operations. These guys aren't placing twice a year to spivvy flippers and diluting us to oblivion like plenty do on this market.

You're insulted ART1974? Really? By someone you don't know making a generic and fairly throwaway comment. Come on now.

I was simply trying to make the comment that the board are increasing holdings. Keeping hold of every single share would have been the ideal of course but for whatever reason (unbeknown to me) that hasn't happened.

Gervaise Heddle of GGP fame played his warrants this way and the disparity between the SP and the strike place was much much wider. It didn't seem to bother GGP investors. He then left his role and is free to sell what he wants without informing the market.

But i digress. This warrant exercise doesn't alter the fundamentals of the company. Yes it doesn't look as good as it might but there's a time to be concerned by aesthetics and I'm not sure that time is now personally.

There's absolutely no issue at all BigEarl.

Investors wetting themselves over nothing.

OK, so there's a slug of shares to shift because management have sold a few in order to exercise more warrants (increased holding for the same book cost).

Who in their right mind wouldn't do this is the question to be asking yourselves. Nobody is the answer.

Lastly, their salaries are irrelevant. If they don't want to fund the company further right now by piling fresh cash in then that's their prerogative. As investors the fundamentals are pretty obvious here and it's pretty clear to see the value case.

Apologies Dean. Forgot to convert the £GBP back to USD.

20-30% is about right for where Bacanora are now. We're a little way behind them. Big gains to come.