Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
Dave is a contractor/consultant not a director. Why did they focus on Karakubis? Dave had regional models suggesting Karakubis was more prospective plus the neighbouring licences have found mineralisation.
Swako is up to his usual mischievousness mud slinging, nothing constructive when you are clearly out of depth.
"f you actually analyse them more closely," problem is there's only fragments to analyse because conveniently for Turney he can't (won't) be transparent...its a license for incompetency. Are these good commercial prospects because not immediately clear.
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.
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.
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.
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.
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.
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.