RE: Kabba the Trollboy20 Dec 2022 07:11
The following is pure speculation and should be treated as such.
When the strategy of collaring all 5 holes with RC, prior to completion with diamond drilling, was announced it struck me as odd. My thoughts are that this was to delay 'discovery' until the participants in the fundraise had their shares and also create excitement with 5 holes to be completed in a short space of time. It seemed to give little thought to existing shareholders and what had previously been communicated. I think the strategy may have back fired and left KAV looking even less competent. I wonder if the discovery that drill 5 hasn't hit the geology expected also means that drills 1-4 were incorrectly sited. The decisions around this appear to have had little thought for making best use of their available budget. I realise BT has said this strategy was due to the issuing of the prospectus, but I am not convinced that anything new came to light, to justify the change in strategy, after the announcement about the commencement of the drill programme. Hopefully the geologists were using a sounder strategy for coming up with the targets. I assume that now the funding is in place the larger holders will be putting pressure on KAV to deliver a competent 'discovery programme'. Hopefully KAV will hit the longed for discovery without expending too much effort on trying to reinvent the 'KCB wheel'.
I actually thought the recent interviews were an improvement over previous ones with the exception of the rather scathing comments about existing shareholders.
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