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That’s what I’m saying too metalhead. Also, the core has been removed at only 90m depth. I thought the RC was going down a bit further than this. Strange that they have retrieved diamond drill core at hole 5 and a relatively shallow depth? Has got me wondering - is this where they think the bullseye is now??? Looks very exciting.
Great article but does not seem to have had much impact on the share price. Last time KAV were featured in the DailyMail there was a surge in volume and a big uptick in the share price. Market sentiment is a lot different today. Really need to get some decent results from this drill for things to begin a recovery.
I think it’s quite unlikely Ella. BT has already said that it is a UHNW - so an individual rather than an institution or corporate. We will find out in due course when the TR-1 is filed.
Agree it does not appear that Mindea have yet been issued with their shares.
A 10 bagger from what staring point F79?
From here a 10 bagger would be say from 1.8p to 18.0p. Given that following future dilution there would probably be in excess of 1 billion shares in issue that would be a market cap of approx. £180million against todays market cap of £8million. Quite a leap. That would have to be quite some discovery I think.
Also, many of the long term holders on this board have bought in at much higher prices than today’s share précis - let’s say on average 4.0p. Then for us it would only be about a 4 or 5 bagger at best. Still not bad but given the risk we have taken not such an amazing return as we were expecting. KAV could of course make multiple discoveries given the licences they have. However, I think the idea of an easy 10 bagger is now more distant than ever for this stock. At least part of the blame for this lies with the management and in particular the way they have set up the Kanye deal with POW.
Agreed JP. That will be another 60million shares plus an additional 75 million so total 135 million more shares in issue. On top of which POW will cream off 1% of gross smelter revenues.
Wonder how much due diligence these new investors did and how well they understand this Kanye deal. ??
YouTube interview out:
https://youtu.be/Sjq3WlUudcI
Have they even drilled one hole yet? I thought they had just RC drilled hole 1 and collared it to 150m? Surely we have to wait for the diamond drilling to see if we have hit anything or not?
I think a £3m raise for an £8m market cap company is a great result….and PL082 looks highly promising….
From Wikepedia: New World Oil, became infamous when the private investors under the banner of ********** voted against the issue of the new shares. This caused one the largest short squeeze's in the history of the LSE AIM index.
********** I believe was set up by BT and his mates and from what I understand the entire thing ended in disaster with everyone losing their money. That’s why the poster keeps referring to short selling and short squeezing i.e. when short sellers are left scrambling to cover their short positions before the SP rise wiped them out ….
Hi Captain. He is referring to this guy and his mum:
https://www.dailymail.co.uk/news/article-3079298/amp/The-accidental-oil-tycoon-B-B-owner-faces-multi-million-pound-bill-trader-son-accidentally-buys-half-oil-firm-Belize-City-watchdog-says-buy-rest.html