Member Info for Ella10

Hi APR,
Look in the last accounts there were some loans related to Zamsort. I don't know which company currently holds these. I suspect that considering the way that shares in Zamsort are being transferred that any assets/cash held within that company are also part of the settlement but I don't know the detail of that.

Hi APR,
My understanding is that that is ARC's portion of the settlement. I assume that ARCs partners will also have agreed a settlement. It doesn't state anything with regard to the legal costs.

APR's posts below are well worth a read :-)

Where's Shep?

APR,
I think that answers both the questions I posed a little earlier. NVS certainly has great timing ;-).

Well well....

NVS certainly didn't agree to a significant settlement ;-).

Interesting timing APR. ;-)

Hi Kully,
I am not sure that cross ramping is encouraged but I certainly won't object, so provided noone else minds please carry on. We are trying to get the message out :-).

Excellent posts APR. How far do you think they are off a defined resource to support the assumptions? I don't get the impression that they are very close.

Hi APR,
It appears that the Kalaba lease allowed some mining activity. I'm not sure how the lease agreement fitted into the plan for FCF or if any of the copper oxides that were 'free digging' were 'mined'.

In the Dec 2020 RNS we were told that further drilling 2as required for the scoping study. I don't believe this has been completed.
'Further drilling and testwork along with the respective technical studies will be required before the Company is able to formally confirm that the projects are economically viable.'

I'm not sure what leeway KAV have for issuing shares and warrants - so whether they would need shareholder approval.
'Upon Option exercise:
Kavango will, if necessary, issue a prospectus as soon as is practicable and (if Kavango considers the same to be necessary or desirable) call a general meeting to seek shareholder approval for the Proposed Transaction, should Kavango exercise the Option.'

I am impressed by how shareholders are pulling together to call the BOD to account. If shareholders of more companies did this AIM would be more transparent. It might not make much difference to the investment case but it should make a small difference to the culture of some companies on AIM.

Hi LegalWolf,
They may 'pay more' at a higher share price but wouldn't actually need to issue more shares.

Hi LegalWolf,
I think the option is agree so only KAV could pull out. The shares are subject to 6 and 12 month lock in although the warrants aren't. I assumed this deal was to help finance the Golden Metal Resources £750k as David Ovadia is/was director in Kalahari Key and is a director of Golden Metal Resources. However with the lock in this doesn't make sense.

David Ovadia was/is a director in Kalahari Key and is now a director in Golden Metal Resources. I assume he is probably a shareholder in Kalahari Key - is anyone able to confirm this?

Has CB forgotten what day it is?

Hi DC,
KAV have had no assays reported. There were changing stories on when drill cores were going to be sent to the lab. It is unclear when any cores were sent. It is also unclear whether anything of interest was found in the first hole.

Interestingly ARCM went very quiet on their drilling program last year nd ot turned out that a legal dispute had prevented them drilling. During this period F79 apparently had had email communications about the initial start of the drilling and survey being delayed due to covid isolation. I don't know whether the emails were real but the survey didn't happen for several months after this supposed communication and shareholders were told at the AGM 6 months later that drilling had been halted due to the ongoing court cases.
The reason I ask about an internal dispute is because despite multiple requests we haven't heard from Mike or Hillary. Mike's shares purchased in January have brought him over the 5% threshold.
I thought it worth considering, although I think the most likely reason for the delay is either extremely difficult drilling conditions or they didn't find anything of interest.

What would happen to news if there was an internal dispute in the company?

News due in the next 2 days. Hopefully some more info on those great grades and if they have been able to verify some of them. :-)