Member Info for JP2000

Cannot see the strategic logic of either option.

Area 1 is tiny. For sake of argument KAV firm up the unofficial resource c230,000 oz Au, what next & exit strategy? You're going to end up with a shoestring operator who'll want to pay a net smelter fee 10 years in the future so the NPV for KAV shareholders will be very low.

Area 2, the claims and overall area are not stated so difficult to assess scale and target resource oz. The biggest concern however are the depths, stated to 1000m. I thought KAV was moving from Botswana because the cover and depths made exploration difficult and rather expensive and Zim had low lying fruits. If KAV wants top dollar it needs to firm up a JORC resource/reserve but that's likely to be extremely expensive if drilling 1000m holes.

KAV need to be making their own claims targeting greenfield sites with potential to host +2m oz Au/Pt, creating JORC resources with further drills to delineate future upside. We have a CEO obsessed with poor corporate deal making rather than a geologist led exploration company.

Value crystallisation is good if this means near term cash inflow but market isn't particularly impressed with the IPOs which is not to say they won't eventually come good.

Re KCB, don't forget KAV overpaid for POW's 50% because the valuation was a joke for what now appears to be trash so double whammy for KAV shareholders.

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.

They're manipulating the share price for the Stage 2 funding which is the nail in the coffin for LTHs

Why the red flags?

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.

Which historical mines is KAV looking at?

Are you talking generically about the Chinese in Zimbabwe or about a specific mining project?

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.

Do we know who the vendor is yet?

Positivity has broken out on Telegram!

And KAV is above 200dma

Whilst your criticism is usually based on facts, the negativity goes too far at times.

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.

Half the things Turney announces never take place:

Botswana's leading explorer

Listing on BSE

KSZ JV

Molopo

Assay results

Other JVs

Why would you ask chief klepto to your (sorry his) mine?

B1 target is a gently sloping horizontal could be anything from a few meters to 20m thick in the zone 525-575m. Its distinct & binary so no early shows and then they either hot it or not.

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.

Tweet said single shift moving to double later so progress will be slower than you think. Precise start date unknown but defo from 30th

If B1 finds commercial mineralisation then highly likely B3 & B4 will also find something, there's been very little information on these targets and KAV have not updated the conductance estimates.