Member Info for JP2000

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

They will spin out KSZ drilling until end of Aug/Sept if B3/4 get drilled so I wouldn't expect news on Ditau until mid Aug

The main question on Zim, is what are the capital requirements?

I’d be delighted if Turney left KAV to concentrate on the Zim licences. The reality is if any one of the Bots licences comes good then KAV would be better off concentrating cash on that project to the point of JORC resources rather than selling too soon.

80-85% of the shares are held via nominee accounts so its impossible to say if those investors voted specifically for the motions or whether the nominee administrators voted in-line with the company, or not at all.

No faith in the management: co is on the second set of management and neither has delivered so far, which is not to say 2023 won't be the year of multiple discoveries.

No faith in key players on the BOD: PWB yes, BT at best borderline.

No faith in their strategies: it does seem to change every 6 months.

No faith in their financial management: absolutely true, plenty of facts to back this up starting with the last fund raising in Oct/Nov.

No faith in the upcoming potential acquisitions: its not their potential, its KAV's ability to finance and the company doing everything poorly rather than one or two things well.

No faith in the soon to be largest shareholder: I assume people/organisations/countries act out of self interest.

"he had a timeline" was there a sense that PWB is running the company or is this a team effort?

FK did, see telegram

i was wondering about the exact point on ditau, assays must have been received by now. i watched a video yesterday from last month and they're looking for elevated gold levels although pathfinder elements like ****nic and pyrite are also important. taken at face value the assays will not be commercial so lets not get too negative if they show trace amounts. what i'm really looking forward to is the ip target identification and what we might be looking at.

110m warrants expired in Apr & May.

Another 65m expire later this year.

I agree with you sentiment but the bank isn’t as b

Should have preliminary drill results in next 4 weeks.

It wouldn't surprise me if BT had multiple identities on the investor sites.

He did get very emotional re kids who live in Sweden with the mother and that he was intending to move to Zimbabwe. All sounded a bit far fetched as not many mzungu outside of Harare/Vic Falls, would you really put job before family.

For explorers its about the pay day when they create & sell an asset not production and a revenue stream. Explorers are generally only interested in part of the value chain.

Mines are very expensive to build, this signals massive dilution well beyond the current £6m which apparently is going to last until 2024.

How to vote remotely for nominee holders:

Hargreaves Lansdown, log on and find shareholder meetings link, its free and takes 30 seconds

AJ Bell you need to log onto your account and then send them a message with your voting instructions. They need at least 5 working days notice

JIM (Jarvis) you need to send an email with your instructions to: corporateactions@jarvisim.co.uk

They charge £20 for each account holding shares.

Interactive Investor, need to opt into their Voting and Information Service (free), through the account preferences screen. Once opted in, go to Portfolio > Voting Mailbox, and you'll see a list of upcoming general meetings for shares you hold. Each one has a "vote" link next to it. Click that, and choose then submit your vote. It's free.

Lets hypothetically say B1 hits metal sulphides and the bounce is initially worth £10m, that's now shared between 1300m shares not 700m so 0.78p vs 1.42p additional value. If B1 fails share price goes to 0.5p if successful it goes to 2p so thats a huge risk for limited upside. in reality there will be 704m+140m shares in issue at the time B1 reaches terminal depth but unless shareholders block Stage 2, da facto any gains are shared between 1300m shares (assuming no warrants converted).

IMO its not an investment for existing or new shareholders, latter should not touch KAV with a barge pole.

The context of Keith's posting was:

KSZ TA2DD002 just clipped conductor

KSZ KSZDD002 missed "by meters"

PL082 where analysis failed to spot a syncline

POW MFC (mostly a duster as per historical 40 year drilling)

The common themes are Mindea drilling & Sprectral Geophys.

B1 target has now had the benefit of down hole EM, TDEM, CSAMT and gravity survey. None of this can negate geological risks it could be 100% worthless Pyrrhotite, but pentlandite (Nickel) is associated with pyrrhotite with the proposed geological model. KAV should know the preliminary result by end June/first week July and assays c3 months (end of Sept).

They spent a minimum $1.2m for Nov/Dec excluding any existing funds. My gut feel is they were negative cash in Oct, PL082 took a lot longer, BT paid himself 100k bonus and they’re employing c60 people + consultants/contractors not shown in Annual Report.

Liquid: the raise is £1.4m + £4.6m . Cash in the bank $2.2m 31st Dec, cash burn varies but will average c$400-500/mth across the year. Current cash position likely $1-1.5m. Lets just say the burn rate is significantly higher than envisaged in the Nov prospectus.

1) Is there a poison pill to shareholders in blocking Stage 2 because you'd be bonkers to accept 1p when the underlying value was >2p? That said the threat of massive dilution is going to cap the share price for the next 6 months.

2) We've seen other prospective shareholders unable/unwilling to buy at 1.8p. Litigation is a theoretical route but not practically feasible