Member Info for Metalhead25

Missing RNS?

Plausible guess for the corporate news (no more likely than anything else) but I don’t think much of the points about Companies House: Kanye has always been a public limited company (its incorporation documents on Companies House confirm) and the new confirmation statement is expressly stated by Companies House to contain “no updates”

As I was saying on Friday, it was never going to be acceptable to have the option price determined by a 10-day period during all or most of which Kav was holding inside information. There was always going to be another extension and it was never a realistic option to exercise on Monday. The good news is that the extension is longer than the minimum which gives an opportunity for the SP to stabilise and hopefully rise again (hole 2 DHEM results, AMT results, assays/petrology?)

Tk, there is an RNS this morning which says the option has been extended. This has arrived a mere 24 hours after you might have expected it - hardly a big deal. I know you’re annoyed about the KSZ blackout, but I would suggest it’s important not to let that annoyance spill over into all other aspects of the company’s affairs where it may not be justified?

Sorry Cox, green box for me. Nothing personal but your opinion seems to be driven almost entirely by the share price and your opinion of who is buying and selling and how much. That’s more or less the exact opposite of how I operate (I see buying opportunities in unwarranted selling and selling opportunities in over-exuberant buying). So your commentary is not adding anything for me. As I say, nowt personal and I wish you well

I believe it’s fine legally, as long as there is an exchange of emails containing an agreement and the terms are clear, that should work. DYOR of course

Staffy, they subsequently announced that it had been informally extended

I don’t think they would have released or alluded to xrf in any event (for good reason). However, since they’re not claiming to have hit the target, I don’t think it matters that much anyway. I didn’t find the interview rampy. It emphasised the positives against the backdrop of an SP fall but that’s normal

Yes, I agree with you too, tk. It’s just two aspects of the same set of facts really!

No RNS on Molopo this morning. I wonder whether that means we’re not exercising? Prob too early to say

Nobody ever said exploring under the sand would be easy. To me the key points are:
1. We appear to be moving in the right direction.
2. The more of this type of exploration we do the better we will get at it.
3. If we do start hitting targets in our 9000 square km district they will multiply quickly and we will have a truly extraordinary project on our hands

BT: “there’s some news, I think, on the corporate side which I think will be quite surprising and interesting to people”.

Any ideas what that could be about? Molopo? But then I wouldn’t describe that as surprising?

Sorry, on my points 1 and 2 I should have mentioned assay results to come also

As the SP starts to rebound a little, a reminder of what we have coming up to look forward to:

1. KSZ/Target A: long winch DHEM on hole 2 (Ben has confirmed to me this morning that this is still planned).
2. KSZ/Target B: analysis of results, further drill of 16,000S target to follow.
3. KSZ/GRS: AMT survey building of hole 3 core and gravity survey, believed to be exploring possible IOCG deposit.
4. KSZ/other: series of geophysical surveys planned over 30km strike length.
5. Ditau: drill programme about to begin.
6. KCB/LVR: drilling of banana zone analogue.
7. KCB/Acacia/Happy/Morula: target selection work ongoing, drill programme to be announced.
8. Molopo: results of work programme, decision on option.

This is such an exciting company.

I’m still a big fan of Ben Turney. He’s an excellent communicator and in normal circumstances he’s a willing and regular communicator. I don’t think he was ramping or hyping prior to this drill - I think he was careful to present facts, albeit he was sometimes visibly excited. Nor has the excitement been shown to be misplaced - the target has been upgraded. Like many others, I found the extent of the silence annoying over the past month and I think there is a case for a review of whether a complete blackout was really necessary. But clearly a view was taken, quite possibly on advice, that it was. And Ben followed that. Does that suddenly make him a bad CEO? Of course not. I remain very supportive. I would encourage the company to reflect on their comms in the past month but that’s it

Drops on short term disappointment are always overdone. But at the end of the day we are down by the cost of this drill hole and up by the intersection of intrusive gabbro in the right place, the confirmation of thickness at 75m and the upgrade of the conductance reading to 16,000 Siemens. Is the cost of the hole worth those positives? I suspect reasonable people might differ. But on any view, the trade off is no catastrophe. It’s slightly positive or neutral or slightly negative. The SP doesn’t react that way, but I believe that’s how LTHs will see it

No, I think saying “we’ve completed the hole and are evaluating the results” leads to such speculation as to be counter-productive. I do still think, as I said at the time, that they could have said “we’re still drilling, encountering difficulties but working on them”, during the period when that was the case. But that’s a point about investor relations, not the obligation to disclose price sensitive information

Personally I think this outcome makes the silence defensible. A company only has to report “precise” information, and in this case they have basically been in ongoing investigations the whole time to work out what the position is on the ground and therefore what solid information there is to report

Seems like very good news that the Karoo intrusive was found to be 75m thick

So the target has proven elusive due to being two conductors rather than one, but one of the two has also been significantly upgraded