Member Info for KeithOz

I have been through the new website, presumably it is still a work in progress - many of the links do not yet work, and much of the info is 6 - 12 months out of date. A little surprised they did not get it up and running properly before announcing it on Twitter. Ben - my 14-yr old daughter is available for professional grade webmastering should you require it!

omg, Proterozoic, not Palaeozoic - that's something else I'm working on. Need a lie down.

These have all been senior, highly experienced geologists, who could easily find well-paid jobs with large companies. They are each in a particularly knowledgeable position to appraise KAV's future prospects, and have made a considered decision to join. We should remember that these career decisions they have made are far more important to each of them than our decision merely to invest in the company.

M/H - I agree completely with your conclusions! JP - one additional point: you ask was the hole in the wrong place? No - the intention was just to intersect the Palaeozoic (Tshane) gabbro at a shallow point, interpreted to be possibly a feeder zone, hence it being termed a 'geological hole' - it was drilled only with the intention of finding out more about the subsurface geology.
What we got was two unexpected bonuses - the Palaeozoic gabbro was not only in the expected place, but these older rocks appear highly prospective for mineralisation - Mike Moles' "really f*d up rocks*, plus there now appears to be a strong conductor within a couple of hundred metres of the borehole, whose exact location, size and conductivity will be confirmed with further geophysics over the next couple of months. There is a good possibility that future drilling will confirm this as an actual orebody, but of course we will have to wait for that.
I am a little puzzled that the market has not discounted the doubled potential for finding economic orebodies, maybe once assays come through things will wake up and realise that a market cap of £21M is verging on the derisory.

Further to my post yesterday on whether KAV have actually hit the conductor in A2, the answer is no, it is off to one side of the A2 borehole. The second stage of DHEM (below 780m) later this month, plus the planned TDEM will give a more precise location for the next phase of the drilling campaign.

Orangecannon - thanks for your kind words, however I'm not an investment guru, and don't want to pretend to be one. I currently think there are inflationary times ahead, and resource stocks usually do better than most other categories under such circumstances. I have a bit of an advantage here, since I have a degree in geology and exploration experience, followed by many years in business development, licensing & acquisition for multinationals.
My strategy is a little unusual, and certainly not for everyone, hence I am unwilling to make public recommendations. 100% of my 'risk' money is concentrated in just 11 resource stocks, all in the areas of battery metals & energy transition. So by all normal investment standards, VERY high risk, but of course hopefully a proportionately high reward. I have another 6 or so companies lined up waiting for the combination of right time and availability of money. I comment on these BBs on just a few of these - not to advise other investors, but to encourage discussion whereby we can all increase our understanding (me included of course). I find these BBs useful for both financial/technical information and for gauging sentiment, both of which drive these small cap stocks. However, I would never invest based only on posts on a BB, no matter how authoritative or informed a poster may appear. There is a lot of ramping/deramping and other attempted manipulation here, some of it very well camouflaged!

Metalhead, I think Ben is the sort of guy who puts a positive view on things by nature. However, he is also smart enough not to start business negotiations without having all the bargaining chips available. We know meetings have been held with majors to keep them informed of what KAV are up to, and I'm sure these will continue. But in terms of actually starting to discuss terms of a JV or purchase, that will not happen until all the info on the current KSZ campaign is fully processed and interpreted.
With regards to timing (for KSZ only), I would guess at:
w/c 8/11 Current hole finished & DHEM'd
w/c 15/11 B2 drilling commences, A2 DHEM completion
w/c 6/12 B2 drilling complete
late Dec - end Jan C1 & C2 drilling - maybe later, don't know what sort of holiday break these guys take, if any.
end Jan?- A assays back
end Feb? - B assays back
end Mar? - C assays back
April / June - data room open & negotiations.

Expect a few KSZ-related RNSs along the way :-)

It has been known for decades that there is He in the Amadeus basin. It is not yet known if there is He in EP 145, which is MSMNs tiny bit of the basin. I suggest you take a long hard look at MSMNs management record before you take a punt.

Sandfire is a small company, their expertise is in sedimentary copper, not the potential KSZ deposits, and they have their hands full already. The KSZ needs BIG investment.

Some here are putting their money on Rio, but I have always thought that Anglo American is a logical partner for KSZ development, given their interests in Africa, copper & PGEs. Today they have announced Duncan Wanblad as the new CEO to replace retiring Mark Cutifani. Duncan is South African, and was previously head of business development and of the copper division, so will doubtless be aware of what KAV are up to.

I don't know what they have hit. They are holding the cards very close to their chests, but clearly it is a good hand.

If they have already intercepted the assumed conductor, it will require further future drills to determine size and consistency of mineralisation - that will help define its economic potential and value. The further geophysics will help determine drill positions & depths.

If they haven't intercepted the conductor, then they know it is nearby and again await the results of the planned geophysics before drilling further, to avoid fruitless expensive drills.

Either way, I would be surprised if there is enough spare cash to embark on a follow-up KSZ campaign, given the imminent plans for both Ditau & the KCB, which I can't believe they or Power would wish to delay further. Before raising further funds, I am sure they would wait until definitive assays are in, the geophysics are finished and the models revised. If everything is as good as we are hoping, a raise will not be necessary, since the next KSZ campaign is likely to be funded by our new partner.

BTW, a 200K trade will be showing up shortly at 5.2p. Given that the spread is 5.1/5.3, it may be shown as a buy or a sell. It was a buy, my man in NY is doing a good job for me again today.

If they haven't hit it, they will ne

Wolf - I agree this can sound confusing, and occasionally even contradictory. These are my thoughts, I hope they don't cause even more confusion :-)

DHEM reads horizontally, not vertically. So far, they have only used a winch with 780m of cable, and got strong, and increasing, EM readings in the last 20m, hence the belief that they have located the upper tip of a conductor. The idea is to use a longer cable to test the remaining 221m, which will provide a better picture of what is in the bottom quarter of the hole. The larger winch is currently working on the B hole that is still being drilled. I expect it will have finished there by the end of next week, and will then be moved to A2.

They are also going to conduct other surveys (Ben mentioned TDEM, but I would have thought the target is too deep) in order to get resistivity measurements - this would all then be tied in to the magnetic measurements and to the actual rock seen in the core, and give a better idea of what the anomaly actually is. At this stage it could be:
* something magnetic and conductive but of no interest, such as magnetite (unlikely).
* disseminated sulphides, that may or may not be indicative of massive sulphides or other orebody close by.
* an ore body which we may have already hit, which is not classic massive sulphides, but which is yet to be identified - for example, PGEs are usually very difficult to identify visually.

I suspect the "F'd up rocks" start above the DHEM anomaly and continue to the bottom of the hole, and very likely beyond. Without seeing the core and assays, I can only guess that this is a feeder zone, with consequent enrichment of metals. What those metals are, and whether they are sufficiently enriched to be commercial, no-one yet knows. If it is a feeder zone, then clearly it could extend to considerable depths beyond the drilled 1001m. The fact that pegmatites have been seen, indicates that the magma has cooled and solidified very slowly, giving time for any dense liquid metalliferous compounds to settle out and hopefully form economic orebodies.

Lots of words that tell us nothing we didn't already know. Re Orinduik, this says it all (again) "and are pushing the Operator, towards a committed location, defined drilling date and rig contract."

I find it incredible that there appears to be no 'best efforts' clause or something similar in the original and revised farmout agreements. This is absolutely standard in every joint venture, licensing, or other similar agreement - if the party who is supposed to do something (here Tullow) fails to carry out the agreed actions, then the agreement can be terminated by the other party. It's perhaps understandable that a small company such as Eco thought that Tullow, which at the time seemed a large and reliable partner, could be trusted, but incomprehensible that the TOQAP partners would sign up for such a loose arrangement.

You may have missed this RNS (Random Noise Service) announcement, since it was released during the hour lost while putting the clocks back:

Kavango Resources announce Proof of Concept, change in strategy and forthcoming Board changes.

Kavango resources are delighted to announce that borehole KSZDD001 has now reached target depth in the Kalahari Suture Zone (KSZ). After passing through successive thicknesses of increasingly dark mafic, ultramafic, then superduperhypermafic rocks, at 1000m, exactly as predicted by Hillary Gumbo, the drill broke through into Hell.

CEO Ben Turney said "After years of work by geologists and theologians, we have finally achieved proof of our secret concept, and located a Tier 1 resource of Brimstone beneath the Great Red Spot. I am excited to start negotiations with the Devil (better known as Michael Jagger) on the exploitation of this, together with a possible geothermal project."
Chief geologist Mike Moles said "These rocks are f***ed up beyond my wildest nightmares - finally we understand the reason"
Now that the directors of Kavango are wealthy beyond the dreams of Croesus, they are proceeding with plans for total world domination. Negotiations are continuing with a number of deceased world-class dictators currently residing in Hell, with a select few to be offered positions as non-executive directors. A cash offer has been made for Twitter and Meta (formerly Facebook). As part of the latter deal, Mark Zuckerberg will transfer to a newly created position reporting directly to the Devil.

Further details will be released to the market as they become available.
ENDS.

Remember - they say tomorrow never comes - but it's already tomorrow here in Australia. Happy Halloween - Keith

two years, not tears, although in the circumstances tears might be more appropriate!

Sorry, missed out a bullet point:

* Initial shipment destined for Rio's Sorel-Tracy plant left two tears ago. Delays from Covid no longer explain the curious silence surrounding what has happened to the half of this 42K tonnes which was to be processed by Rio.

I agree that a sale or JV of Dundas is increasingly probable. If you have a fully permitted operation, an offtake agreement for most of your production in place with a major operator, and three finance offers on the table, why on earth would you not be moving full steam ahead? Particularly when the finance offers are at low rates, we are moving into a higher interest environment, and global demand for your product is relentlessly pushing up prices.

The current stated aim is to use cashflow from an operational Dundas to finance other exploration projects. I find it very interesting that Bluejay has been busy partnering up all its existing projects, getting someone else to come up with the development funding, while still retaining a meaningful stake. Such an arrangement for Dundas would still provide cashflow, so is still within the Bluejay stated strategy for the project.

My bet is on a partnership with Rio Tinto being announced before the end of the year:
* Rio already have a JV with Bluejay at Enonkoski, so the two sets of management already have regular contact.
* Rio are already big in mineral sands, so have the know-how, management experience, and established customer base.
* Their leading mineral sands operation at Richards Bay, S. Africa, has been hit with multiple disruptions including the assassination of the managing director. Operations have restarted, but on a limited basis.
* Rio have an ilmenite/titanium mine at Havre-St-Pierre, at the mouth of the St Lawrence in Quebec. This is a 70-year old ilmenite mine, presumably nearing the end of its life, plus an extensive metallurgical and processing facility nearby at Sorel-Tracy on the St Lawrence between Montreal & Quebec City, producing various titanium products.
* Quebec, on the E. coast of Canada, is conveniently close to Dundas, on the W. coast of Greenland.

Sounds like a marriage made in heaven. What do you folks think?

- Means 300m away horizontally from the line of the borehole, starting at a depth of 760m. They don't know how far down it continues, since DHEM so far only done to 780m
- KSZDD001 is the 950m hole in area B that they have almost finished. Will do DHEM there, then go back to A2 to finish off bottom 225m

Hope that helps, I'm off to bed.

Fletch/JP2000 - You think you've got problems - try trading from Australia by phoning Pershing in New York who then put the order in to London by direct market access! Surprisingly, it usually works very well, I get prices well within the displayed spread, although it sometimes takes an hour or more for the trade to be confirmed - faster to spot it going through on the LSE (real LSE, not this site). Buys going through now at 5.4p, let's see what happens after people have had time to digest things over the weekend. - K

I eagerly await the MMs getting back to their desks after the traditional Friday liquid lunch.