The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Social media is a good way of venting frustration particularly when management have been incompetent. CEOs get away with murder because there’s little accountability and they know that, but gaining a poor reputation is one at to redress the balance. Just wish PJ concentrated on telling the story emphasising the value inflection points.
I'm losing track of the presentations so are not necessarily quoting the latest one, "Q1" has been mentioned several times. What does this mean? Nothing starts until mid Jan at the earliest but my best guess would be last week in March, the reasoning is they're running a regional AEM survey which is a big area, it needs number crunching and then analysing with the other layers of data.
The KCB isn't quite as prolific as investors might expect, Sandfire are spending $25m/year and are not finding new zones. KAV's PL082 was a disaster and PL036(??) was quite advanced and near drill ready but Dave Cattrall has focussed on Karakubis, if it comes off with multiple dome structures then its worth +£100m to KAV so 7p/share at current capital structure. I'm not saying 2000m of drilling will result in 7p but to say there's significant upside with a distinct possibility both RIO & Sandfire will want that ground.
I agree actions/outcomes will be the key share price driver and "assays in the new year" will be one example. That said there are a group of people on here deliberately de-ramping for the last 18 months and I doubt they hold shares. I don't mind constructive criticism but the majority are looking for positives.
Look at the videos from Mar/Apr 23 about Ditau where he was "incredibly excited" despite KAV's own assays saying only pathfinder. The project is no longer a priority, says a lot. BT could hype a snail climbing up a wall.
For balance, there was a recent comment quoting the KCB expert as having said he'd seen more gold in samples from Zim drills than in the rest of his career put together. If that is remotely backed up by assays (BT says "new year" which probably means April and only then if he deems the grades good enough), then its happy days.
Layla: historical drilling over the last 40 years didn't find anything commercial so if there is mineralisation it will be localised rather than district scale.
Whilst I can't find the reference , pretty sure a recent RNS said the geophysics didn't align with the conductors which is not something for POW to shout about. POW use Spectral Geophysics (?) as did Kavango with similar results in KSZ, the latter has given up KSZ for Zimbabwe/KCB.
The latest geophysics looks compelling (they all do!) but the track record isn't great.
Also consider geological success verses commercial discovery? POWs best drills found c0.5g/t PGM, if the next drill finds 1g/t is that borderline commercial at +1000m depth, probably not.
I'm invested & waiting for discoveries, I just don't get good vibes they'll make a commercial discovery 2g/t
Drills? 1 or 2
Cost? c$250/m x 1000m, likely $500k
Probability of success? Low despite the geophysics
Risk to reward? highly risky drill and deep so will need good grades for a commercial discovery
Personally I think there are lower lying fruit in the POW portfolio
Soil grades not drill grades. Key question is how deep & amount of over burden to remove? not heard anything about geophysics.
POW has diversified so much that even if they did get lucky & make a discovery the amount of dilution is such it would have limited effect on the share price. Sean needs to get a grip, prioritise & drill.
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.
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.