Member Info for JP2000

You’re being polite, the results are pants or as an old boss of mine would say horse****, that’s why they stopped drilling early. Gotta hand it to Paul Johnson, the genius pulled POW out and got 15% (and options for another 15%) of KSZ and KCB. The nature of those ring structures was always highly complex and they could spend the next 5 years finding nothing but ultra low grade bitsa everything systems. Don’t spend another penny on Ditau as much better prospects elsewhere.

Any plans to increase your 6m shareholding?

Mike said “delighted with progress” and by that he means recent.

Perhaps the retirement is a vote of confidence.

BT needs to get off the fence and make a decision on B1, fear of failure is not a reason to say and do nothing.

BT has given 15% away to his best mate PJ and then a JV with someone else so the 100% is likely 35-40%. What the RNS doesn’t say is they’re 3-6 months away from a JV because it takes that time for all the due diligence. I disagree they won’t drill in the meantime as B1 is relatively shallow.

Yes it was positive & I didn't realise how much information they had on previous co drilling. There's always questions you want the interviewer to ask but they don't:

Will 2022 be "the year of discovery"?
Are you considering drilling B1 without a JV partner?
What's the likely scope of any JV, partial or whole KSZ?
JV's take quite along time time to put together, how far along is that process?
You got very excited about TAD2 back in Oct, was that born out by the assays, what was that shiny core?
Reading the report, are you now targeting low magnetics or high magnetics?

https://twitter.com/StockBoxMedia/status/1560559379996217346

I couldn't quite make out the date on report, could have been 11th or 13th Aug, either way it was recent. We don't know if the report is supplementary to the "Proof of Concept" or basically the whole report, possibly the former. It could be the final piece in a jigsaw which then needs to be read through and approved by the Board so its not surprising if there's a week or two delay before the final announcement.

How commercial is “ 7.0m @ 0.443% Ni from 445m”?

How long before the Board and geos digest this into an RNS?

You've not mentioned:

1) "Royalty:

Power Metal will receive a 1% Net Smelter Return ("NSR") ("Royalty") across all Kanye licence areas save in respect of any such licences which, at its sole discretion, Kanye Botswana allows to lapse. Costs for the preparation of a suitable separate Royalty Agreement shall be shared by the parties. In the event that Kavango is able to secure, within 2 years of execution of the agreement, a greater than 2% NSR or other royalty on any of the Kanye properties the total royalty above 2% would be split equally Power Metal/Kavango (e.g. a 3% NSR would see KAV/POW each receive a total 1.5% royalty), with Kavango retaining the balance.

Sale Premium:

In the event that Kavango sells all or part of Kanye for in excess of £7.5 million, Power Metal will be paid a proportion of the gross excess received by Kavango above £7.5 million (the "Sell-On Premium"). (e.g. if Kanye is sold for £50 million in month 15, POW would receive £4.25million). The Sell-On Premium is 20% for 6 months from execution of the Agreement, 15% for 7-12 months from execution of the agreement, 10% for 13-18 months from execution of the agreement and 5% for 19-24 months from execution of the Agreement, after which the Sell-On Premium will lapse."

2) The impact on the share price of 75m warrants being converted and sold (there's zero chance of POW converting and holding onto the stake because they haven't got the cash).

3) POW still get their hands on 14% of KSZ and that's before any JV's signed.

Good write up on KCB published today:

https://themarketbull.com.au/2022/08/10/286812/

Its a start (I'm pleased) but a bit of a **** take "16 hectares", FFS

Mike Moles invested £400k @4p and he's an insider.

B1 fiasco had a massive impact, the target didn't go away and the intention is a B1/GRS drill later in the year.

KCB is arguably KAV's most bankable project, reverse circulation drilling is quick and cheap, the targets are c2-3% Copper 200m subsurface. Establishing a resource will be a game changer.

the second drill was TA2DD002

Of the 4 holes KAV drilled in KSZ:

TA2DD001 targeted Karoo, core sent for "Full sweep analysis", no hype so no real expectations from this drill.

KSZDD002 350m of Proterozoic with visual mineralisation even though the main conductors were several hundred meters away so there might be some expectations.

KSZDD001 "fine-grained, interstitial disseminated chalcopyrite (copper sulphide) and abundant magnetite through sections of the 49m of recovered Proterozoic core. This includes occasional 1cm elongated blebs of chalcopyrite (copper sulphide) with minor nickel". I'm not expecting this to be commercial grades especially given the depth but it is indicative of mineralisation in GRS.

KSZDD002 no mention of assays which is slightly odd as they drilled through a feeder and there might be some evidence.

Whichever way its a waiting game largely driven by the overall market.

For anyone considering an "entry" look at the quality of the management and make your own decision.

I would invest in Panther Metals Ltd (Australia), I wouldn't touch Panther Metals PLC (Canada) with a barge pole.

Hi Keith, the DHEM was done in two parts, to c780m and then c1000m, they had loads of problems with heat, batteries, the line wasn't long enough, concerns about shifting clays and unstable hole where it wasn't cased, & DHEM doesn't like steel casing. A difficult drill but fair play they got part one of the DHEM completed, the images showed they'd just clipped the Proterozoic and they recovered 349m of Proterozoic core, there were 3 distinct bands with the first corresponding to a core photo (depth marked on core). There were no deeper core photos corresponding to the two much larger bands which I find odd hence saying BT is keeping stuff back.

The second part of the DHEM 780-c1000m was delayed due to the B1 drill so they went back a month or two later, the main issue was hole integrity. BT made the odd noise but he never definitively confirmed if the DHEM was completed and there were no images so make your own conclusions.

3 March RNS
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w9km1er

This does not say anything about true location or scale of the target but KAV did show an image in the accompanying presentations, basically a blob with TA2DD002 clipping the side, there was very little detail and I certainly did not hear any comments about the depth of the main target.

The facts are the final petrology report and assays are outstanding and its been 10 months since the hole was completed.

Abysmal performance from Darren

Completely agree. BT might be a good orator but less impressed with the communications and recent commercial strategy.

KSZ TA2DD002 is a good example. The core photos looked promising and BT couldn't contain his excitement but then no assays and only partial DHEM pictures. The interesting point was the depth of the best core photo wasn't the strongest EM reading, so I think BT was sandbagging and knows exactly what they found. Turning round and saying 'proof of concept' means no obligation to publish assays is playing footloose with the listings rules and in the context of a 6pm on a Friday special presentation.

Putting all this to one side, I've been accumulating shares over the last 6 months (over a dozen buys) because I'm convinced KCB and some of the shallower KSZ targets will come good.