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Yes I seem to recall Ditau was the priority last March when it looked highly speculative based on assays.

The current project focus looks encouraging & Legalwolf might be right, could be a good 6 months coming up.

Despite Mr Turney reducing his previous options to 3p which would have required him to add c£25m of net value just to exercise, the bar is lowered to 1.1p which lets face it is pump & dump territory. Going forwards if Turney adds £10m of value he gets c£300k which given his track record is extraordinary.

Has LSE grown a backbone? have noticed they deleted a number of posts which were blatant de-ramping

And you don't let boy wonder dilute your stake to oblivion in 12 months time so a very positive day.

He bought Power Metals holding.

..result was share price was unchanged from that transaction

Well, if those shares were bought on the open market in a single or series of trades it would have pushed the share price up 10-20%. Somebody has got mates rates & the result was no

Its outrageous, one city rule for the rich another for the plebs, how is it possible to amass that size trade when we're told 65% of shares are tightly held, without SP rising?

You're basically asking are there any of the following in the pipeline; JVs, cash disposals, JORC resources, discoveries?

There's sporadic sampling/drilling which might lead to some interesting results eg Tati, Athabasca, Molopo but I don't know if they'd meet the definition of a discovery.

Need to wait & see what happens

https://www.miningmx.com/top-story/54885-barrick-ceo-says-theres-scope-to-negotiate-mali-mining-code/

Does the takeover include the gold licences?

Karakubis is an interesting one, originally third on KAV's KCB target list but KAV's new KCB guru prioritised over the others which were significantly more advanced. Then KAV adds neighbouring licences & drill results from ENRG which I've said was a great strategic move but its eaten in the second tranche of Purebond cash. KAV have committed to 4 holes for a proof of concept and if successful then KAV really ought to prioritise because its probably the most attractive to large corporates like Rio and Sandfire (or even the Chinese). A $30-50m payday is probably 18 months away but it would be transformative and fund the Zim projects.

KAV are keeping the campaign low key at the moment, give it 4-6 weeks to see what the mood music/body language is. Drilling will continue to mid Dec, break for Christmas and resume mid Jan. I see Jan/Feb as key months with news on Hillside & Karakubis to move the share price. Can see the share price in range 0.8-1.1p over next month.

This time last year KAV were drilling PL082, it should have been a slam dunk discovery but the geophys turned out to be fiction (Hillary's firm) and the drilling campaign itself was disastrous, defo Mindea reserve team. Turney tries to bluff his way out but its clear to anyone its gone badly wrong. The spineless Board should have given Turney the boot. Peter Wynter Bee joins the Board partly to mentor Turney because he doesn't have the energy to run KAV himself. Turney (the self professed communications expert, yes really!) is basically told to tone it down and not give so much information away to the market hence KAV has said nothing of value to either the market or potential competitors. BT wants a better share price but there's nothing for speculators to latch onto. 60% of the fund raise has gone into overheads and licence acquisitions meaning less & slower drilling campaigns.

The elephant in the room is KAV has 6 weeks of drilling left before the Christmas shut down and assays take 1-3 months. The call option expires end of Jan & its unclear how KAV completes meaningful due diligence before handing over $500,000.

I don't see the share price changing until KAV produces solid results, if they can find 300-500koz @5g/tAu near surface then LTHs might get their money back.

Drilling has commenced, twitter.

Website updated

I was hoping for a bit more than 1200m of drilling but I guess its proof of concept first, then start a bidding war between Rio & Sandfire.

Re KCB:

"KCB ongoing work programme to 2024

The Company has initiated a focussed data review on the Karakubis licences, which it considers to be a high priority

target. This work, let by consultant David Catterall is ongoing and includes integration of previous AEM and CSAMT

data sets, aimed at generating areas for further follow-up.

In-depth geological mapping and a detailed soil sampling program are also being carried out.

Follow up is expected to consist of Induced Polarisation (IP) geophysical surveys, and then a program of drilling to test

the highest ranked targets. Presently an indicative 1,200m of diamond core drilling has been allocated for this, at an

estimated cost of $360,000.

A budget of $485,000 has been assumed. If results of the geophysics result in a large number of high-quality targets

then this may be expanded, utilising the discretionary budget available on a results basis.

These figures are indicative and are subject to change based on exploration results and actual contractor costs"

The interim financial were to 30th June and in reality KAV had creditors to pay. Happy to be corrected, BT gave a couple of interviews in early Sept and in one he says cash is currently $400,000 which leads me to think KAV is operating on fumes so the £4.6m (US$5.5m) Purebond raise is the new baseline.

The interesting (disappointing) point is only a fraction of the $5.5m is being spent on exploration because as Bozi points out Turney doesn't do prudence. I'm estimating only $2m of the $5.5m will go on exploration. The ENRG deal is strategically good and secures a great land package in between Sandfire & Rio, but its costing $1.8m in cash before any drilling obligations. Turney's said there's a pipeline of a "dozen" deals, any savvy CEO would structure these to preserve cash until KAV firms up resources creating genuine shareholder value, but Turney has Purebond's open cheque book....until the day they eventually kick him out. At present KAV is run by an old man (albeit some sucesses) & a 12 year old in the body of a 40 year old.

Cash position post raise USD 5520000

Nara option payments 110000

Nara min spend 500000

Hillside option 500000

Hillside drilling 500000

ENRG 1600000

Karakubis 1000000

Overheads 1000000

Rig purchase costs? 500000

Total spend commitments next 7-8 months 5,710,000

I agree the ex-placing price is theoretically higher & its difficult to buy stock & both point to a higher share price. Looking at the Leopard prospect (not being drilled straight away) they should be looking for >500kozAu, Hillside (should start in next 10 days) looks more speculative.

My caution is the dire state of the markets, KAV's ability to FU the geophysics & poor drill results, lots of cash going out of the door funding licences not drilling, and an absolutely massive capital (equity funded) requirement when KAV moves to mine development. KAV will burn through the cash in 7-8 months, the share price will be smashed down and Purebond will increase their stake to 80-90% of the company with private investors left with nothing. You'd have to be a trader/speculator to touch KAV, its certainly not an investment for private investors. The only reason a lot of LTHs are still around is looking to claw back losses rather than a ringing endorsement because PI's are going to get diluted 200-300% in a very short period of time (6-24 months) unless KAV gets spectacular results and manages to sell Karakubis for cash.