The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I don't think we know what is happening. Something is causing a delay, and I don't think the company is being upfront about timescales. There are very mixed messages about what exactly we are targeting. It's far too much to go into in this post, but if you watch the videos and read the newsletters, it's vague as to whether they are sticking with the idea of doing a two-in-one drill to test the IOCG theory in the KSZ, or whether they should target the high conductance readings or not. Then there is the KCB, no explanation of what is stopping them from committing to a drill date for PL082 this year (a year which will be over before we know it).
For BT: are we waiting for 100% acquisition of Kanye to go through before KCB drilling starts?
You make a very good point Legalwolf. There have been a few times this year where it's felt to me like Kavango is acting like a subsidiary of POW. I really hope the company can move forward and drill without having to wait for Molopo, or for the Kanye deal (with POW...) to be signed off. The lack of activity here and on Telegram suggests the mood is low amongst investors.
I see the 'Independent Valuation Report' of Kanye Resources is back on the company website. https://www.kavangoresources.com/investor-relations/research-notes/
I won't be able to join tonight's Shares Investor Webinar Q&A. Perhaps someone can ask how exactly they arrived at some of those figures.
Ben was quite clear that KCB drilling will happen this year, which is great news. KSZ as soon as Mindea have finished working with POW. Good interview.
BT needs to announce exactly when he is going to drill the KCB. Is it going to happen this year? If not, why not. Keith posted that Mindea are doing the Molopo drilling, so does that mean we have to wait? Investors have shown a lot of patience and deserve to see a clear timetable.
Thanks Keith, I suspected as much.
"We're exploring some v interesting projects... We look forward to providing further updates." You could be right Legalwolf. Not sure what you mean about the retweet Ella10?
I've dusted off my crystal ball, and I see Power Metal Resources looming large in the future.
Well, now we know the team are spending so much time together in Botswana (it's on BT's Twitter for those who aren't aware), perhaps we can expect them to hammer out a timetable for action that will be announced to market at the end of the trip. Sounds reasonable, right? ;)
His interviews are what persuaded me to invest in Kavango. Is anyone else perplexed by that RNS? Why such short notice? Hope he's okay.
Saying we will "continue advancing the B1, B3 and B4 conductors to drill ready status" is typical of the non-committal language we've had since the B1 drilling. I interpret this statement to mean they have made the decision to let someone else shoulder the costs. For us holders who have seen the SP drop, that might be the most sensible option. Tamesis appears to be a good partner to have on board. With the KSZ report published, and BT now in Botswana, I think the company is sending out the right signals they are serious about building something long-term.
Legalwolf - you were right to think there has been some worry about drilling B1 and not finding anything, Ben says as much in the new Stockbox interview. And as I thought, it sounds unlikely they will drill this year. Hopefully we have some KCB drilling to look forward to in the meantime.
Legal, that thought has crossed my mind too, and I remember the interview you are referring to. It's certainly a risk. From the conclusion of the report: "Contact metamorphism of carbonaceous stratigraphy has been observed in drill core to upgrade carbon to moderately conductive graphite. Although the observed conductivities are too low to explain modelled TDEM conductors, target discrimination should consider potential for non-sulphide conductors." A cautious assessment, but KAV have reported very high readings... it's a gamble, but one that needs to be taken sooner or later. Will a JV partner want to jump in now, or wait and see?
If KAV are still super-confident about B1, I suppose they would prefer to drill it themselves. This way, they can make a discovery and give themselves a much stronger bargaining position. The report outlines a lot of potential for the North and South KSZ. Any discovery at the B conductors will add massive weight to the report in the eyes of a JV partner.
Legalwolf - at the risk of sounding flippant, my expectation was for the KCB drilling to start last year. Realistically, after hearing Brett Grist, I would expect drilling to commence in September. As for the sampling BT tweeted about today, I too picked up on 'geophysics', so I wouldn't expect those targets to be drilled any time soon.
As for the KSZ, I expected the drill to return H2, but as I've said previously I have little faith that will happen now. Why? Because of the talk of wanting to test both the Norilsk and IOCG theory in one go. What's the timeline of getting a drill that will go that deep? Will Mindea be up for the job, or another firm be needed for something so challenging? Personally I'd prefer them just to focus on the cluster of targets they've identified (B1, B3 & B4) and get them drilled this autumn - if they are duds, so be it.
Do the board have that level of decision-making power JP2000? I don't know what there is to discuss, other than refine the drill targets the best they can to conserve cash. I suppose they have a big problem if Hornsey concludes they haven't proved the concept. However, I recall BT suggesting on a video interview we all misunderstood what Proof of Concept meant.
Bozi is right. Investors have probably had enough of reports and theories. The best thing they can do right now is drill the KCB and actually find something. Would be nice to have some good news amid all the economic doom and gloom.
Are POW using the same drill contractor as Kavango? Just watched PJ's YouTube video and he says they are going to crack on with drilling "there's no point hanging around with these things."
You'll be giving BT ideas Bitcoin! Perhaps they'll find the Holy Grail and Shergar too. We've had Proof of Concept, The Year of Discovery, maybe next year will answer some of the world's greatest unsolved mysteries.
How long is a piece of string?
Well spotted Ella10.