Member Info for Bozi

StanAccy

You really shouldn't invest in junior resource companies with your mindset and view. I've seen you make similar comments on other stock pages.

The long and short of it in my opinion is that KAV was initially a promising junior with large land packages in an underexplored country with respectable links to mining and good business acumen.

The board of directors consisted of some individuals who had very respectable records in the mining business with significant involvement in multi-billion pound transactions. They supported the company by buying stock and in some cases, waiving wages.

The company set about trying to find deposits with modern evaluation techniques and has clearly had little tangible success to date - I mean real success here not exploration leads. However, it has engaged the services of respected academics at various points in the hope that a data driven approach could help them make a breakthrough.

Does that make KAV a lifestyle company? Not in my view. It's just a company that hasn't made a significant discovery and is evaluating large project areas on a constrained budget.

The point that I'm trying to make is that c.90% are juniors like this. Either they are wildcat exploring like we are or they have a tiny asset in a remote part of the world that is never realistically going to be capable of economic production.

If you're going to by those companies you have to choose well, get a large dollop of good luck and then manage your investment well, not just call the company a lifestyle and berate Turney for being a toerag because the share price is falling.

I don't really like a lot of what happens at KAV these days. It's not the company I first invested in, but I'm hopeful there will be an op to get out with a profit in the next 12 months and I'll wait for it.

Let's hope your confidence is not misplaced Pad.

I noted your carefully worded "handsome premium to curent share price" line. 35-45p is not the premium that many of us were here for but I'm sure you'll regard it a success.

Don't forget folks that Zimbabwe is an option. I'm also not enthralled with the move in that direction from a jurisdictional point of view but PREM and one or two others have managed to get by so far without it being a complete ****fest.

Ultimately this £6m is going to get us into 2024 paying for exploration at possibly a couple of projects in Botswana and maybe a bit of scout drilling in Zimbabwe.

At the end of the day, the game is progressing and our means of getting back on a level footing are diminishing. KAV needs a discovery and an asset of significance to develop and if KSZ B1 turns up something less than satisfactory then Zimbabwe will clearly come into play whilst KCB is progressed further.

Quite possibly yep.

Obviously we're being asked to waive the takeover offer requirement at an EGM...

Question I still have is... Who is punting £6m and do they really think we believe it's on the strength of some historic gold results on claims in Zimbabwe?

In reality this is someone taking a big punt on KSZ with Zimbabwe as a back up.

I want to know how someone is taking 40 odd% of the company without having to make an offer for the rest of the shares.

I wouldn't quite call it wipe out but it's significant dilution at a low low price when £3m at maybe 1.2-1.5p would probably have sufficed.

Thanks Darren.

We've got DarrenKeery for that.

What say you Darren? Is Lasso about to get lasso'd or are we fine to push on and get SOLG sold for many billions?

Ha, there's none of that where I am DBW.

It's grim and grey. A lot like SOLG.

What good news is there to release Add?

No drilling, no exploration and not a whiff on the news wires that anyone else is remotely interested, which is pretty concerning.

We're ambling towards end of June with little else but options, resource rationalisation, etc

4x the package of Michael Foster in his final year and 15x the package of Mike Moles.

Both were founders of this company and started up Kavango with a solid and reputable track record with De Beers and the likes of.

Upcoming KSZ drill is the big one for this company.

Doesn't answer the question FKC.

The directors have indicated a confidence that the balance will be received or the shares will be replaced to new subscribers, my assumption being not at the 1.8p issue price from last November.

The fact they've outlined an alternative suggests to me they're not that confident of receiving the initial payment in which case they never raised the money.

How have they FK Capital?

I could say I'm going to subscribe £10m worth of shares but never pay for them. Wouldn't do myself any favours mind but KAV haven't raised the money.

All funds should be with the broker before the deal gets closed.

I knew that going to search for Norilsk sized deposits in elephant country was going to be dilutive but I wasn't ready for how dilutive. Starting to think that KAV should concentrate on their best project, make a discovery if possible and then raise on a rerated stock.

As it is they're towing a drill rig around Botswana and it's costing a pretty penny. All the while shares are back to near Covid-19 lows.

Have an enjoyable weekend all. Hopefully Ben can pull something out and justify that bonus.

As well as this funding it's the pre-emption rights they have snared for the next 2 years. This represents a pledge to continue to support the company should a further capital raise be required.

Pensana now have the room to manoeuvre they need to progress and close the tranches of finance they mentioned on 3 Apr.

Great to see the support.

Now get the financing done PRE. 31/12/23 is the absolute deadline and ideally well before.

Never at any stage have I proclaimed Magher as the second coming.

You aussies really should look a bjt closer to home when it comes to apportioning blame. DGR stands to do very well if Bob manages to clinch a deal for SOLG and they still hold 3-4% of ALL which should be material for them in time too.

Needalife - give it a rest. Bm3121uk turns up on here when the share price is falling with an incoherent ramble throwing unverifiable figures (facts lol) around.

For example, where has Mather "sold high and rewarded himself low"? Mather has over 90m shares personally and has only sold very small amounts on a couple of occasions at the end of your Aus tax year as part of his charitable commitments.

You and Bm3121uk seem to forget that DGR is his company and that is birthing the likes of SOLG, IRR (now ALL) and the others. It stands to reason that not every company will be a success and grow from junior explorer to meaningful producer but SOLG should provide a fairly decent opportunity for those who saw the value opportunity when the company moved from Solomon Islands into Ecuador.

And, before you say anything, I'm well aware of the nature of the guy and some of the strong views held about him.

Correct DM.

Orthern - he wanted Mather out years ago so he could get his own lackeys installed and basically flog SOLG to the first bidder.

Mather wasn't interested (as was his right) and so the stand off ensued and the poor relations festered.

You can point to Irwin like he's the oracle if you like but he's not to be trusted either.

There's also an argument to say that everyone in the Irwin camp should have sold SOLG and bought CGP when Irwin did, but not many did.

BM3121UK only comes on here to slate Mather. Was obviously caught up in one or more of the previous companies. The post this time makes little to no sense given Mather supposedly Cornerstone the AJQ placement and seemingly did his dough in the aftermath, or is the insinuation Mather sold his stock at a profit first?

Eloro - whilst I agree that cash is particularly tight right now, I'm taking the view that if they didn't have enough cash for payroll the administrators would have been called in by now.

There's always a chance this is the next piece of news but I struggle to reconcile it with the early April update which came after the interim results and gives no indication that the company was going to cease being a going concern in the near term.

I understand your grievances with ChinaSyn and happen to think that bulls shouldn't be jumping the gun. We know what is needed and it needs to land pronto. As for Fulmar, I mean no ill will and I'm sure Arc have some exciting times to look forward to in their partnership with Anglo.

I'm not quite sure what the point is. Most assets of all types in development are unfunded.

The Pensana share price is clearly weak and as a holder I'm worried but I think it's flimsy in the extreme to make that link and dig out PA.

If the company turns round and decides to shut up shop, as the market clearly believes they're about to, given the update on 3 April, I'll be extremely cheesed off.