Member Info for Metalhead25

I do recall an interview Ben did a couple of months or so ago where he said something like “hmm, what am I allowed to say, there are ‘other opportunities’ in the KCB if I can put it like that”. I guess he may have been referring to this POW deal, but could there also be something else in prospect?

POW can’t afford to exercise unless they borrow the money and a 14% stake in Kav is illiquid so it’s not a short term loan. The SP is also volatile. I reckon they exercise if we get to 7/8p

Fair enough objection to 100% but the current dilution to existing shareholders is 14%, not 30%. So we are up to 86% ownership, plus 100% control

Layla, agreed. Whether it’s good value depends on how you value Kanye relative to the KSZ and the LVR licences. But it’s clearly not giving away.

Another thought is that it could be a very smart strategic move insofar as it makes space for another partner to fund the development of the KCB projects. When Kanye was 50/50, bringing in another partner on a funding / earn in basis would have been tricky to do, or at least tricky to do while preserving any sort of decent stake for Kav. And the problem with POW as a partner was that, while we all like Paul Johnson, they weren’t actually bringing anything to the table and, in terms of future funding, were never going to. Now we have more options

Only just catching up on today’s news. I’m over the moon to have 100% of the KCB back in Kav. I always thought it was a crying shame that we only had 50% of those licences. Yes some dilution but won’t matter too much if/when we get good results. I don’t see POW being able to afford to exercise the warrants unless they’re so much in the money that they can borrow to do it, in which case we’ll all be far happier than we are at the current SP anyway. With that in mind, I think the dilution is more than acceptable to increase to 100% our stake in our most prospective project

Forrest, we have nearly 10,000 square kilometres and four large projects. Today’s news relates to one of twelve targets in one of the four projects. The other projects also have multiple targets. So you might think of i8 as being in the region of 1/50th of the portfolio. DIT0004 looks promising. We have a potential Olympic Dam scale IOCG target. We will have many massive sulphide targets in the KSZ. We have many copper targets in the KCB, an established copper district where we have promising geochem and geophys. We have the banana zone analogue in the LVR JV

I certainly agree there are no guarantees in law. That is why, as I mentioned previously, you will almost never get serious counsel to rate your prospects higher than about 75%!

If it’s £35m or more (altogether) it would seem our market cap is accounted for by our risk weighted legal prospects, and anyone buying now is getting a growing business for free!

Does anyone have any sort of handle on the likely damages?

In London the common practice is that to get litigation funding (as CPX have) you have to have counsel opine that you have a 65% chance of success or better. Counsel don’t really go higher than 75% so it’s fairly stringent. US practice may be different I suppose

Sorry tk, I just don’t believe you. You’ve spent the last 5 months either predicting disaster or (when things look more positive) staying silent. I think you want the price to go down, for whatever reason. I could be wrong and if I am I apologise. But it is my view

Keith there’s something not right with that guy, I’ve only ever seen him post negative stuff, including, most tellingly, negative price targets. I don’t believe he’s a shareholder

I think it’s good news, but not wildly exciting. My comment about phenomenal being contextual was a reference to the fact that the company had previously said some of the grades were phenomenal, whereas in reality you can only describe them that way if you are making allowance for the fact that these were the first 3 holes. I’m not surprised the SP hasn’t budged today, but still, we have another string to our bow that we didn’t have a few months ago; the magnetic high may yield higher grades etc etc

Told you phenomenal was a contextual concept!

I’m not so sure about that logic as it might have been lined up anyway. However, it does seem likely that they’ve found something interesting, given the decision to drill deeper etc

Jsc, I wouldn’t bother mate. Look at his posting history. All he’s doing is going round slamming companies, making negative price predictions, saying he’ll buy if things go lower and, in several cases, predicting insolvency events with all shareholders wiped out. He’s not a shareholder in PALM, has no idea about anything to do with the company, and the 2p is not a real prediction. It’s just part of the general spew of ulterior motivated negativity

I’m assuming we’ve hit 300 metres of carbonatite following by 300m of massive sulphides!

Comforting :-)

Right, I’ve been really busy so haven’t spent much time on investment stuff lately but… I’ve just had a look at various micro cap metals and mining stocks which I know a bit about from having considered them in the past, and it has greatly reinforced my view that Corcel is now ridiculously undervalued. There are many companies out there with 2-5 times our market cap who have basically nothing - just a few projects which may have nothing there, or which have already been shown to have pretty much nothing there. Meanwhile we have proven nickel resources which are notable on a world scale. The potential from here is enormous

Had a little look at forecasts and all seem either positive or very positive for tantalum