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Lets not forget in March/April Turney was prepared to rush into the Ditau drill which on the basis of the publicly published material looked highly speculative . The last RNS states "Meanwhile, we will preserve our working capital for redeployment to the Kalahari Copper Belt and our new Zimbabwe gold opportunity." suggesting Ditau is no longer a priority. Whether this statement is based on capital rationing or a re-evaluation of the geology is unclear, perhaps both. I agree with the statement but don't think this was due to Turney suddenly becoming wise.
It would be fair to say the impression of Ben Turney/KAV today is very different from two years ago.
KAV’s governance has issues which even Turney has acknowledged.
Seeing through Turney’s oratory, communications are muddled, defensive and misleading at times. B1 21/22 & PL082 comms were dreadful and deliberately misleading.
Operational delivery has been poor because the CEO thinks the job is mainly about pitching & business development. KAV doesn’t need (can’t afford) new projects, it just needed to concentrated on KCB.
There’s no references to shareholder value.
Strategy is all over the place.
Financial management is poor.
Putting aside the principle assets which is why many remain invested, the share price is 1p with good reason.
re tailings: *** packet calculation based on 20,000oz could be worth c$10m to kav taking into account 50% mining royalty and operating costs. its not earth shattering numbers but a useful contribution.
Isn't BT getting a payday from Teathers Financial (BT was the CEO with 2m shares before KAV) which was a shell, acquired uranium licences, sold/given/lent(?) to POW and when it IPOs Teathers get's c£500k cash. Its shocking really but wouldn't be surprised if history repeats in Zim.
Pauly: given the massive dilution since 6.5p, averaging down which is not without its own risks, is probably the best way to lower an exit point. I'm in the same boat and would love to see 6p or even 10p but I can't see it happening this year without a miracle.
Need to look at global markets specifically ASX & TSX, they're all down. London's risk appetite is very low partly because there's been such little success over the last 3 /4 years but there are signs of change.
B1 drilling as we speak, initial results in 2-3 weeks perhaps longer.
Bad result & drilling campaign cancelled, SP goes to 0.5p & we see if Purebond follow through.
Indifferent results, SP ranges 0.8-1.2p
Good results SP 1-2p, upside depends on Purebond effect especially when they can buy a further 460m@1p