Member Info for KeithOz

Porky is getting annoying saying the same thing six times a day.

I am unable to DM (direct message) Lonny on Twitter, but fyi sent him this as a series of tweets:

"Hi Lonny, You're obviously reading the LSE bulletin board, having picked up on the drilling mud thread and replied on Twitter, so thank you. I'm pleased we're now starting to get a bit more publicity for this company, which is very much flying under the radar."
"May I suggest it would be very helpful if the website was to be updated? - many items are 2 -3 years out of date, this does not give a good impression to a potential new investor, who would make the PRD website their first source of information."
"I believe it would also be very helpful to get a decent analyst's report commissioned, probably after the MOU-1 testing. Thanks again for your involvement with private investors, who make up a substantial slice of shareholders. Kind regards, Keith(Oz)"

Ben's just giving us the heads up that the next KAV RNS will be a TR-1 from the Dalai Lama.

No.

Correct F & M. They specifically said high pressure wellheadS - in the plural.

Hi NiVig, Voisey's Bay & presumed KSZ orebodies have formed the same way - metal-rich magma has intruded through sulphur-containing sedimentary rocks, the sulphur binds to the metals and forms a sulphide melt which separates out from the rest of the magma. Result is gabbro with pockets of mineralisation.

Unlike many similar orebodies worldwide, VB does not contain economic levels of PGEs. The main massive sulphide orebody, The Ovoid, is 600m x 350m x 110m, with 32MT @ 2.8% Ni & 1,7% Cu. Total resource is about 80MT, with almost half the economic metal content coming from the surrounding disseminated sulphides, rather from the concentrated massive sulphide - something to bear in mind when looking at KSZ results - assuming there are any :-(

Much to my alarm, my daughter became a semi-professional online gamer at the age of 13. She is pinning her hopes on getting a multi-$K gaming PC on success by KAV. I was talking to her about progress over lunch, and she asked "Isn't it a big risk putting money into a company run by someone called Bent Ernie?"
Sorry, Ben. I've explained, she's very much on your side now.

People can indeed read FAR too much into a tweet. For example, here is what someone might conclude:

Ben is very media savvy, and almost certainly skims through this board.
He is well aware that a (perceived) delay in announcing drill results is making some people twitchy.
He is legally unable to make any reassuring tweets himself, without an official RNS.
Good mate PJ very helpfully tweets a photo of a book about Voisey's Bay, which Ben can legitimately retweet.
As most of you know, VB is a NiCu mine - 2nd drill hit 34m of massive sulphides in December 1994
VB sold for $4.5Bn in March 1996, at a time when metal prices are well below those today.
That would be the equivalent of £8.16p per KAV share.

But, I repeat, some people can read FAR too much into a tweet.

Hope you managed to get some sleep, Ben.

There's your problem, NiVig - drilling through honey will be really slow.

Here's another reason for a JV - p 108 of the original prospectus talks about well spacing for production:

"Helium drilling discoveries are yet to occur in Rukwa; however reasoned assumptions can
be made about well spacing, ignoring any surface constraints which may occur. Based on data from
petrophysical analysis of the Ivuna-1 and Galula-1 wells in Rukwa, and analogous wells in the USA,
Kenya and Uganda, high permeability sandstone reservoirs are likely. Considering these
assumptions, a spacing of 1 well per 1.3 km2 would seem appropriate. The prospect closure areas
range from circa 1.7 km2 to 10 km2, which suggests well counts of 1 to 7 wells per field. Pressure
decline, reservoir heterogeneity and/or water influx may necessitate tighter well spacing."

555sss - I'm not sure if I'm supposed to be the whale you mention :-) KAV has a habit of posting rather technical stuff, and not everyone here will interpret that correctly. If I can help out with a genuine query, I will do so. I ignore obvious trolls, in fact now have 21 filtered. Quite often posts appear on this board that could fall somewhere in the middle, if I have spare time I will give them the benefit of doubt and try and address the concerns. Are you suggesting that I should behave differently?

Ella - The current KSZDD002 drill stopped in December at -350m, in Karoo sediments - these are a mix of sandstones, shales and clays, and the rapidly changing and unpredictable nature of these sediments was what was causing the drilling problems - including the clay layers unfriendly habit of expanding sideways and blocking the drill hole.

Based on the profile of the borehole KSZDD001 about 1km away, KAV were expecting to find within these sediments either two coal seams (I think this is most likely) or possibly two layers of volcanics, at depths of about -400 & -450m. Your eyes are not playing tricks, it is difficult to make out on the diagram what these layers are supposed to be. There was then a further layer of sediments, then a 70m thick section of intrusive Karoo gabbro - this is younger, molten magma that has pushed into the existing Karoo sediment series. That is in turn underlain by what appears to be a thick coal seam, then a thick rock formation that has not been identified publicly - this is shown in pink on the chart you refer to. I assume this is just more older sedimentary layers that they forgot to label - no need for any conspiracy theory as to why it wasn't labelled :-)

The B1 conductor appears to be at the same depth in KSZDD002 as the intrusive Karoo gabbro found in KSZDD001, which is one reason they are expecting it to be a sulphide rich ore body deposited as part of the Karoo gabbro intrusive process. The trouble is, expectations and reality do not necessarily match, it is quite possible for the lateral stratigraphy to change unexpectedly over a distance of 1km. I still expect the perceived delay in making an announcement is due to slow drilling in soft sediment, with a possible need for interim casing, and/or a desire to do multiple DHEM. We will find out soon enough.

and at close TBN is down 17.5%.

...and by lunchtime TBN is down by 11%.

In first hour of trading on ASX this morning, less than 500K TBN changed hands, no move in price. I guess the increase in contingent resources was counterbalanced by disappointing (real, not projected) flow rates.

Same post to 289 different boards today. We can do without this cr@p, I've reported him for spamming, suggest others do so also.

I would far rather they take a few extra days of careful drilling to extract a complete drill core, rather than rushing it just to keep a few of you ninnies from wetting yourselves. It's really important they get this one right, it will define the rest of the KSZ exploration going forward. That might involve some slower drilling, or casing part way and changing to a smaller diameter drill, or doing a couple of DHEMs at different depths to get a really accurate 3D picture of the ore body - this will save a lot of time and money for future appraisal drilling.

These people (KAV team and Mindea) know what they're doing. You've already believed in this team enough to trust them with your money, so why the big panic? The stuff's been down there for over 100 million years, a few more days doesn't matter. I'm off to bed now, and certainly won't be losing any sleep. It's not just a new day tomorrow, it's New Year 4719, the year you are all visited by the Wealth God. Night night.

NH is compounding his ignorance of O & G with an ignorance of all matters financial. He has clearly never heard of exercising options at the same time as selling some of the shares so obtained, thus financing the entire exercise. Every company I have ever worked for had a nominated broker for carrying out simultaneous exercise and partial sale. I assume he has never met the qualifying criteria for options that may be offered by his current troll-farm owner, since his job performance is clearly so poor.

Wacky - options can be exercised AFTER 6 months, not must be exercised within 6 months. But still a very short timeframe.

Interims out today - raised £1,000,000, six months later have net assets of £736,766. So that's doing well then.