Member Info for JP2000

PALM's fund raising today making KAV look rather professional.

Hoping for news on Hillside Prospect 1 quite soon, the multi elemental analysis and news on the KCB targets.

Your response on drill results was lazy & misleading....of course you were just saying... I at least gave a considered response on drill results and even agreed there was a gap to 10m oz.

I try not to ramp but will say there's a massive list of news flow items in next 6 months and these drive the share price both up & down.

The placing @1.2 was probably the best bet, sorry..... there's too much news flow to come:

Hillside Prospect 1 anytime

Hillside multi element results "a month"

Hillside gold production inc 3kg/mth by "end of summer"

Hillside drilling early June

Hillside high res IP

Hillside claims ownership, RNS any day now

Hillside geological model would be good.

Nara final drill, perhaps some visuals & feedback next few weeks

Nara core export permits (please let this go smoothly FFS)

Nara assays Aug assuming permits

Nara tailings news & plan

KAV mining updates inc intro to new CEO, expecting KAV mining to list on Vic Falls SE within 12 months

Two new mining options seem imminent

KCB mobilisation probably in next few weeks

KCB target presentation

KCB presentation with Dave C

KCB drilling 1st or 2nd week June

KCB drilling 1 hole every 7-14 days

KCB prelim results, if good then probably get an announcement late June/July but don't expect rolling commentary.

c200m 3p warrants expire Nov.

KCB assays late Nov.

No guarantees on any of this, timings usually slip, idiot beaurocrats get in the way & weather happens so DYOR.

Yes there is a gap between 10m oz & current projects so this is not a given unless KAV has a roadmap. Perhaps KAV has a geological model(s) not in the public domain and perhaps there is a pipeline of new projects.

Drilling was largely designed to intercept as many shears as possible eg 1.00 m @ 3.10 g/t gold from 156.00 m. It was a single drill in one direction so doesn't give any information what is happening in that shear from the point of intersection to the surface. BT has said these were scoping holes prior to exercising the Hillside option. KAV is primarily targeting bulk mining & I guess that means 0.5-1g/t, it also means they target higher grade shears and the material in between so its likely to average. Going back to the example, it might be marginal to sink a 150m shaft for a 1m 3g/t intercept but that's nonsense because they will mine from an open pit and process the entire shear and material in between.

Prospect 4 had bonanza grades at 95m & there's a lot of shears and quartz veins in the greenbelts delivering 10-30g/t but without high resolution geophys models very difficult to quantify, there are thousands of small mines in Zim, where miners have chased limited high grade veins which quickly run out. KAV knows this & wants more drilling asap to see if P4 is viable.

KAV has drilled 5 simple proof of concept holes at Hillside and its looking rather good.

Great opportunity for Wako to short. IMO, DYOR, GLTAH

Minimum 1m @ Hillside, looking like Prospects 2 &3 merge into 600m x 1200m bulk pit which goes to Prospect 1 (2 drill holes waiting for assay results)

200k @ Leopard North but more likely +500k

Leopard South is a complete wild card

Nara, it was suggested 500-2600k oz, interesting they're drilling a 500m deep hole as we speak.

Plus several new deals to be announced shortly.

The acquisition prices for these aren't particularly cheap given KAV still has to pay drilling costs & hold the geological risk, but they are finding significantly more gold than was originally thought. Suspect KAV was being cautious with the market and once they calibrated pyrite from cores with geophysics there would be a provable geological model, hence BT is now talking about 10m oz.

Are contracts due to be exchanged today?

FocusIR presentation just finished:

Targeting 10m oz Au in Zim and 1m tons Cu in Bots. BT looking at a market cap multiples of Caledonia (c£160m)

Will give presentation on KCB targets shortly & will arrange an investor meeting with DaveC

May potentially drill more in KCB if they hit Cu.

Talked about T5 $1.8bn and getting 10% of that valuation i.e. $180m

Some new Zim projects to be announced.

3kg Au production per month by end of summer.

BT is aware of shares in issue, talked about share buy back

I know BT is the king of self promotion but I have never seen him this bullish.

Going to enter break even territory for many LTHs fairly soon know a few people in the 1.8-2.5p range

Keith: any thoughts about KAV as their KCB campaign kicks off in June?

Not quite the RNS was expecting but good to see phased start, makes sense.

Really need to hear about the targets and depths (really important). Typical commercial grades for 300m holes are 1.2%Cu + 12g/t, requirement increases the deeper they go.

The Hillside option transfer is any day at which point KAV will be in better position to share information

Now targeting 3kg/mth production, c$200k/mth, think the original target was 1kg/mth

A more detailed video presentation next week, ...."great visuals"

Returning to drill at Hillside ASAP, beginning June.

Overall: very upbeat

BT says KCB campaign about to get started in a "couple of weeks"...which from experience means 2 weeks + 1 week to set up camp & clear drill sites + 1 week for drill team to arrive set up so broadly second week in June for actual drilling

Uptick in publicity; Mining Podcast today, Investor Webinar on Tuesday, another Stockbox due very shortly. I generally find 1 or 2 bits of new information but would like to see some new material such as drill targets.

My reading is the project is worth 10% of the NPV ie £22m. Translating into a share price is tricky because Ltd will need more equity so it’s 5x undervalued not 10x. IMO the ultimate value to PALM is £1-2m which is still useful but not earth shattering.

On reflection the observations about grades at depths is missing some important points. The drill was designed to intersect 7 or 8 shear zones, going right to left so some of the intersects were always going to be deep. Because its only a single drill the results don't tell what the grades are above the intersection point to the surface, therefore there's a lot more gold than indicated. eg 1m @3.1g/t from 156m, is that part of a shear zone & what are the grades vertically above to surface? In hindsight KAV might have drilled a second hole left to right & I think Lobo Tiggre picked up on this 3 weeks ago...from KAV's point of view it was a limited scoping drill campaign but Lobo raised a good point. Note drills rarely go vertically because it gives less information.

The artisans are targeting much shallower free gold & as BT said historic grades c12g/t .A lot of that material will have been mined but KAV clearly thinks there's potential & want a follow up bulk sample.

Its quite difficult to come to any firm conclusions from this drill other than gold mineralisation has occurred within the shear zones, grades were reasonable but a lot more drilling (June) is required. KAV have 3d IP resistivity & chargeability models & aligning these with the drill results will give a good indication where to drill next.

The drill campaign was proof of concept prior to option exercise so there’s a lot more drilling to come before anyone knows the scale of the deposit. One snippet from the previous result was the alignment of IP to gold deposits.

KAV didn’t quantify copper, it merely said 2-10% sulphides &vast majority will be iron based. The multi element analysis is done in JHB and likely available June.

Two observations, the better grades are quite deep & secondly KAV thinks the grades should be better based on artisan findings. KAV will need this for bulk mining.

Not sure if this is good or bad. Obvious signalling but an open period, not sure if directors can buy if imminent news.