Member Info for JP2000

The closest comparison is Sandfire's T4 Motheo which lies on the same regional fault, TBH it means diddly squat because the mineralised zones are more nuanced.

Quite difficult not to make discoveries on Zim greenbelt but the real question will be scale & commercial attractiveness, tbc.

Botswana & KCB would be the real deal and hopefully they'll start in the next month.

Dave also works with Cobre. Next 3-4 months important for KAV.

The share has risen recently without any real substance, lots of chatter Telegram/X but in reality nothing tangible. Company not replying to emails, no assays etc. MM's do take the pss but not surprised SP starts to drift

Trust in Ben Turney was at rock bottom 12 months ago given multiple failures, operationally the situation improved, but then he gifts himself 3% of the company, withholds information from the market, suppresses the share price & raises , then renegotiates an atrocious deal, also says they're not going to bother with JORC, FFS. KAV is a main market listed PLC, suggest if Ben wants to continue these shenanigans he takes the company private.

This deal is between $1.6m and up to $3-5m depending on the share price worse for KAV shareholders who incidentally were diluted yesterday by issue of 19% more shares.

What on earth is the 5% royalty for??????

Leopard North resource is 200,000oz non compliant & we know nothing about grades, cut offs, depths, or upside potential. Total option cost $1.6m-2m so c$10/oz on the stated resource. Realistically KAV would have to find 1m-1.5m oz to justify that price

Why is POW worth less than the sum of the parts, could it be the conglomeration model went out of fashion in the 80s for good reason. According to POW's business model they count an IPO as crystallisation of shareholder value when it is nothing of the sort. I'd also caution against applying any value for Molopo, Haneti & Tati because they found diddly squat so far. The only thing to drive the share price will be commercial discoveries, GMET & FCM should come good .

There is something about the Karakubis drill/results which KAV is not disclosing, why they are rushing the drill? I don't buy KAV saying "it saves overheads", its either got something to do with warrants expiring or a major fund raise or a deal they're working on. Normally they'd do a quick proof of concept campaign, mull over the results and then decide next drilling taking 6-12 months. I just hope KAV management extract maximum value for shareholders.

Do you think KAV will release full assay results for KCB before the next fund raise because this is a crucial question?

Book build has completed.......private investors not convinced:

Of 257m new shares, Purebond take 221m, Directors 18m, private investors 18m (£22k).

Is anyone really surprised given the shenanigans? Predict an RNS on Friday for withheld assay results & RNS Monday outlining huge targets in KCB.

Legal, the main value drivers are KCB and getting into production and it should spike on any declared discovery. Until last week I thought Hillside/Nara resource would have a big impact particularly if they find 3m oz but the Ariana/Rockover deal for 1.3m oz was very low c$10/oz, nuts when gold is $2300/oz.

I think they'll be another raise in Nov/Dec.

§ Diamond drilling to test presence of multiple economic gold ore bodies in Hillside/Nara gold belt, Zimbabwe

§ 5,000m diamond drill campaign to prove the Kara Anticline is a copper-mineralising system in the Kalahari Copper Belt, Botswana

§ Completion of Hillside acquisition (announced >>> 23 April 2024)

§ Capital investment into Kavango Mining to increase gold production (announced >>> 08 March 2024)

§ Increasing project footprint in Zimbabwe, through securing additional options on projects

I agree. In KCB Dave Catterall has refocussed which is concerning when KAV had previous advanced licence areas but ultimately its discoveries which count & Dave is the recognised expert. Quietly optimistic.

Should read, nothing factored into POW's share price

POW sells KAV @0.8p to fund a highly speculative deep drill at Molopo, meanwhile KAV shares hitting 1.3p today, talk about destroying shareholder value. And just when you think POW will jettison the dross & focus, they open up new fronts.

POW geos will have a very good idea what the cores contain, PGE is a little more complicated because the grades are always lower so a whole rock sample is required. Sean has evidently not given any interviews as doesn't want to give false hope.

In terms of the share price; they've been exploring at Molopo for 50 years so nothing is factored into KAV's SP. Its not a disaster so only a 3% fall. The market wants/needs commercial discoveries from POW.

What's the minimum spend?

Understood they have a limited time and if no discovery is made within a time frame then a third of the licence gets handed back.

Other than Karakubis, KAV have made it clear that KSZ/Ditau/KCB (odds & sods) are no long priority, too much cover, lots of geological risk, size of Bots teams dramatically reduced over last year. Ironic because KAV was looking to combine the Bots assets into Kanye and float but ultimately the drill failures led to a dramatic change of strategy.

The funding position is interesting because there's over £8m of warrants expiring in the next year including c200m @3p expiring in Nov so would be very helpful if these get converted.

Re $40m in Purebond's account, I've watched Ben's interviews and there was a suggestion of debt financing rather than equity which would wipe out small PIs. My fear was another raise at 1p but I think 3-5p range could be on if KAV produce good results.

If there's a commercial discovery in Karakubis, then it will likely turn into a cluster & need significant funding to expand the resource/reserves. KAV has talked about selling the licences but investors will get much better terms creating reserves first.

Hillside, talked about a modular processing plant, easily $20-30m

Nara, really depends on what they find, an operation based on a 2m oz resource could cost $100m

It was going to need 2% Ni to be viable at depth & clearly they don't have anything close. Running assays for PGE would seem to be a last (desperate) throw of the dice. On the plus side perhaps POW can ditch the mediocre projects and concentrate on uranium.

The shallow results look good and should be cheap to extract.

I wonder if they’re disappointed between 200-400m? The deeper high conductance structure, pink in the diagrams hasn’t delivered.

A good post. Hillside is about 1000 acres so a bit surprising prospect 4 is 12km from prospect 1, its suggesting the claims are non-continuous.