Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Legal - the reason the cash position is so low is because one of the ‘strategic investors’ (Probably Arigo?) never actually paid for their shares. Seeing as the placing was at 1.8p and the share price has now halved there is a significant risk that these funds will not be received.
BT made a big deal of the fund raising from his ‘strategic investors’ but it now looks like one of them had not actually settled the funds for this. Presumably this is Arigo Capital with their purchase of £500k? What are the chances that this will actually be paid when the share price has now halved?
KAV no doubt think that releasing their Financials late on the Friday afternoon ahead of a bank holiday will allow them to avoid any scrutiny.
There are a number of things that raise eyebrows:
1 BT’s bonus of $111k which is almost 100% of his salary!
2 Funds of $669k from the fund raising in November 2022 have still not been received as of the date of this report (April 2023)
3 The treatment of the Kanye JV buy out from POW
Agreed JP. The only thing we have seen so far is pyrite which is basically iron sulphide and trace amounts of gold. It is another great theory that has yet to be proven true. The assays may turn up something but chances are it will again be pyrite and anomalous gold. Still a long way to go for a commercial discovery here. They really should have got going with the KSZ seeing as we were told months back now that it is ‘still ready’. Still waiting and hoping that they can eventually get something right ….
An accidental discovery has nothing to do with ‘forming good relationships’ - it’s just pure luck / randomness. Also the core belongs to the Botswana Geological Institute and not to DebBeers. The relationship with the BGI is going to be with the local KAV team rather than with BT.
Having said all that I will go along with the guy who wrote here that if this turns out to be a multi billion resource discovery then I too will hail BT as the CEO of the Universe!
A very encouraging RNS. Shame the SP has not yet reacted much to this news. Presumably the higher grade gold that we are looking for could be deeper down or elsewhere. The IP surveys will guide them hopefully to where the feeder zones are and if they can find these it should be where the high grades are. Given the size of this there is a good chance IMO that this will prove to be an economical discovery. Of course time will tell. GLA.
Indeed many companies in Botswana are producing impressive results. In fact Botswana Diamonds Plc. announced today that they have begun diamond production at Marsfontein and are recovering diamonds on a daily basis which will fully fund 2023 operations.
https://twitter.com/StockBoxMedia/status/1641048880182620161
BT seems to have gone AWOL (again!). Last meaningful communication we had from him was on the 17th when he said “ as soon as I’m back in London next week, I look forward to updating you further.”. As per his usual pattern of behaviour he never kept his word on that and everything has gone quiet and the share price has dropped back down.
I think you are right to be concerned about such behaviour Swakopmunder. It is in fact another red flag on Turkeys behaviour. Posting cryptic messages on Twitter or in his newsletter his unlikely to persuade any serious investor. In fact what is needed and has been lacking from KAV is timely and meaningful updates via RNS. When I mentioned this in response to a KAV Twitter message BT immediately deleted my message. They may have accidentally hit lucky in Ditau but as I have previously said KAV are likely to succeed despite the efforts of the current CEO rather than because of him.
Key observations from relogging of Hole DITDD004 include:
· Localised brecciation of the BIF has enhanced permeability, allowing passage of sulphide and gold bearing fluids.
· The previously reported gold assays (>>> announced 14 October 2022) are seen to coincide with the presence of fine pyrite in the BIF.
· The association of pyrite with the gold, typical in gold deposits, is useful confirmation of some of the characteristics of the Ditau mineralisation. These characteristics will then be targeted in the next stage of exploration
Agree BCB - family and health should always come first. Nice to see PJ make a personal appearance on the telegram group. Also the CEO introduced himself. Shows that they value the opinions of their investors.