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That is actually very well picked up Ella. I think you are right. Going by Peter’s age and experience it would seem likely that he is a contact of Mike Moles, Mike Foster, David Smith and Hilary Gumbo. He is presumably being brought in as a senior hand to help steer this ship out of the mess is has landed in. I also note from the press release that Peter has extensive experience in JV negotiations - I am wondering if this is alluding to the potential JV for the KSZ that has been mentioned for the NY. Peter’s LinkedIn profile also mentions that he is an investor in Mining and other resource companies. He will then surely understand the pain of long term investors in this share including the founding directors Mike and Hilary.
Bozi if you are looking for a communicator in the form of BT then congratulations you already have him! Personally I would prefer to have communication that is credible and reliable from someone who knows what they are talking about rather than constant ramping and misleading claims like “the Holy Grail” which we saw yesterday. Regarding comments on this board or any other forum for that matter: people are entitled to their opinion. It’s their money they have invested and they are entitled to express their disappointment. Personally I think any criticism should be constructive but I can understand their frustration when they have lost over 70% of their investment. If you are unhappy with any particular posters you always have the option of the filter button.
Whilst this will continue to be the Ben Turney show for the foreseeable future these new appointments are a step in the right direction. A junior exploration company with a CEO who is not a geologist is not ideal. Both of these individuals bring considerable knowledge and experience. Jeremy Brett in particular is familiar to us and has for some time now been the key driver behind the scenes and he will no doubt be a key asset on the journey to discovery for KAV.
Thanks for that considered response Keith. Looks like the language being used “Holy Grail” is once again misleading. Presumably they have positioned their drill where they think there is the greatest chance of mineralisation. Communication / Lack of continues to be an issue.
In todays tweet BT describes the D'Kar/Ngwako Pan contact as the “Holy Grail in copper exploration on the KCB” and apparently the current drill (hole 6) which is due to complete in January 2023 should confirm this contact point. Does anyone have any idea how significant this really is? How likely is it that this would then lead to KAV actually being able to make a discovery? Or is this just more “Jam Tomorrow”? KeithOz - if you are around would appreciate any insight you can provide on this? Thanks.
Cox
I share a lot of your frustration with how the company has been managed over the past year and in particular the appalling level of communication / miscommunication. These frustrations are clearly shared by the market with the share price being down over 70% year to date and a much worse performance than even the junior exploration market as a whole. However, it is clear that the sell off has been well over done and credit where credit is due: BT has done extremely well to secure the funding and this has probably saved the company. The market cap in no way reflects the real value of the company. The underlying assets are sound and as geologists they appear very competent and professional. The issues they have are at the corporate level and in particular due to weak corporate governance resulting in weak decision making resulting in a lack of discovery. If they can tie up a good deal in the new year. I agree with you that all of this talk of easy multi baggers is pie in the sky. For example a 30 bagger would need a market cap of approximately £0.5Billion which from the current £8 million is unrealistic. However, good multiple returns are quite achievable given a decent discovery. At the end of the day it’s your money and no one else can tell you wether you should invest or disinvest. I think your desired return of 10-20% is very achievable in the short term although I’m personally hoping for a larger return over a longer period. Thanks.
When BT says he hopes to bring a deal in in the NY should we assume that is literally in the NY i.e. January 2023? Or will he string us along for the entire year like he did in 2022? Hopefully there is a deal and on terms that are favourable to KAV investors. We wait with bated breath and fingers crossed!
I agree with you JP. I am also disappointed that the founding shareholders were not strong enough to stand up to BT in particular with respect to the Kanye deal where KAV shareholders were seriously ripped off. There is effectively no corporate governance at KAV with BT seemingly the only decision maker. I was rather hoping that these new investors would get a seat on the board but this does not look like it’s going to happen. We can only hope that positive drill results at the KCB bring some benefit to the share price.
I wouldn’t count on it Cox. Most investors stopped believing the BT BS a long time back hence the abysmal performance with SP down 70% YTD.
The only thing that will shift the SP is positive drill results but these also look unlikely in the near term or else BT would be shouting about it from the rooftops.
We have now been told to wait till 2023 but on past record that will also be dragged out and we will be looking at 2024 , 2025, etc etc etc
I admit I have no idea how good or not this latest RNS is and look forward to the interpretation of people who actually have some decent knowledge and experience of this like KeithOz. However, what I remain confused about is: what is actually happening on this current drill programme? The latest update we have is a picture of a Mindea drilling rig and a flat bed truck with some impressively clean looking drill pipes. We have no information on how deep they have drilled this current hole and how much more they will be drilling. We don’t even know how many holes they are actually drilling and even where on the license these holes are located.
Nice calculations there JP. There also appears to be a market by the 3m core showing that it was extracted at 155.94m so looks like what you’re saying is right. Seems like they have reached the part where the mineralisation could be. Fingers crossed.