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Good interview from Ben, emphasising lots to come on KSZ as well as Ditau

There certainly seems to be a lot more going on here than just an attempt to find RREs. It’s good to have multiple possible routes to success. And these targets are geographically large (and there are lots of them) so if there is something valuable there we are likely to have an abundance of it

Personally I’m in favour of differing views. Just not relentless, content-free, toxic whinging. Negative opinions are much more interesting on the first hearing than the 23rd, at any rate if there is no new content

If you’re both still invested then great - surely it’s time to let January/February go and get back on the bus. Or if you can’t then sell

My personal guess is that some of these people have already sold. Across the shares I hold I have a mix of perspectives and emotions, with a range of positivity and concern. I would never, in relation to any of them, spend weeks on the BB slating them, running down the management and making dramatic negative price predictions. Doesn’t stack up for me

In light of the repeated claims of “1p” Stan that it’s now Ditau or crash, a quick reminder of what’s coming up and the many ways this company can make us rich:

A. KSZ

Coming up:
- Full petrology
- Assays
- Area A2 DHEM
- Red spot AMT survey
- More TDEM on red spot and 30km strike
- More drilling later in year including dyke and silk targets at B1

Routes to riches:
- Karoo massive sulphides
- Proterozoic massive sulphides
- Red spot IOCG

B. Ditau

Coming up:
- Drill rig mobilised
- Expect we’ll get some geophys analysis from the company in the next week or two

Routes to riches:
- Rare earths
- Base metals

C. KCB

Coming up:
- News on target selection
- Drilling (Ben has confirmed on Twitter that there is no delay in getting the rig, they are just working on targets)

Routes to riches:
- Banana zone
- Acacia
- Happy
- Morula
- More targets likely to be identified

Am I missing anything?

To clarify, Legalwolf, my anti-moaning post was not in any way directed at you

Do you think stinking up the board day after day with a complaint you have already posted many times over is helping you make money?

I’m all for people having their say, even when negative, but once you said it (and not only that but debated it to death) then continuing to harp on about it just gives a toxic atmosphere to the BB

Sentiment is definitely low but there has been no adverse change in the merits of the projects. Today one can get the same investment proposition as 6 months ago but get almost twice as many shares for the same money. That to me is indicative of a buying opportunity and I have indeed just added.

I would also just note that the board is not *directly* responsible for the share price. Of course their actions affect it. But they are not the sole determinant

Company does work programme to assess merits of project. Company considers merits of project in light of work programme, decides it needs to negotiate better terms. Better terms not possible, company concludes the project does not justify the cost.

Man who knows nothing about the work programme or the merits of the project, or even the terms which were not quite agreed, brands the non-completion of the deal of unknown merit and unknown price a failure.

Man who claims to be shareholder of company predicts that it will “crash” below a third of its current value.

Hmm…

Great results from Aus this morning!

It was, but that was based pretty much entirely on a valuation read across from MAST.L which at the time was priced higher. It was always a bit of a silly approach.

Tbh I have no time for Align’s opinions on anything. I’m self-aware enough to know that that is mainly because I can’t bear the anti-vaxx / conspiracy theorist tripe they put out on Twitter. But there we are. I do recognise that they are a supportive cornerstone investor in Corcel. Beyond that, I read their research notes for new factual information about the company but don’t take any other notice of them. Personal approach!

We do seem to be in a bit more of a hurry in PNG of late, which is very nice to see

I thought Ben explained the thinking reasonably well on Twitter last night. In short, they think it’s a good project, they think Kav is uniquely placed to take it forward (the relevance of which, I think, is that it helps get a good deal) and the whole point of the new deal with KKME is that it is meant to be a better/less dilutive deal than was available under the option. Obviously we don’t know what the terms are yet, but if they are an improvement on what was available before then I don’t see how this new development can be taken to be a bad thing.

As for delaying Ditau, got to trust the board to put the projects in the best order. They have every incentive to get that right and know more about it than we do

Trouble with Rockfire is the grades are rubbish (I’m sceptical about even the 0.19% average they announced, since most drill results were lower than that, and some much lower). Unless they find a lot more, I doubt it will ever be mined, in which case the real value is zero. They may find more of course!

Last time something like this was reported in Brazil it was quickly shown to be completely untrue…

Really can’t see why they would do a market placing when (a) they don’t need to, and (b) the SP is low, and (c) shareholder trust is low. I don’t think doing two interviews really begs for any explanation but, if it does, I really don’t see a reason to reach for that one!

Cuddy, MT means megaton, ie million tons. So 0.5MT is 500,000 tons of ore. If the ore is 1% nickel that is 5000 tons of nickel, which at todays price is worth $400 million. So no, not tiny!

Points you make *

Fukurokuju, nice post and I agree with all of that, with the slight caveat that despite the points you mean I would take Molopo if it looks *really* attractive.

We were always going to have a drop if we didn’t hit massive sulphides with the last drill, and no doubt the drop has been exacerbated by irritation at the news blackout and by Ukraine. I would be keen to buy more around these levels, although the effect of the war across my portfolio is such that I don’t have many attractive options for selling just at the moment!