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Bitcoin, 10p sp from here, that's what I call optimism 😀. Ben says he expects to get the sp back to it's all time high within a year. But even if we get to 3p lots of warrants from there come into play to help out our finances. Drilling the kcb is not cheap after all!
Thus from our CEO last week:
"Dave Catterall is in Zim at the moment. He’s spent half of his career (20 years) in gold and has two further discoveries under his belt, both of which are being mined (as well as the Zone 5 copper discovery, currently being sold for $1.5billion in Botswana)
In Dave’s words he’s seen more gold in samples over the last week than he has in his entire career."
Yes agree too. We had to drill the B1 with readings like that! How could we just ignore it! As soon as the cores came up, he stopped to conserve funds and reported the bad news! You can't really ask for more than that. All I ask is he resists the urge to rush straight into another drill campaign, can we please take a step back to try to understand what we "don't understand" if you see what I mean.
"The bottom line here is that the company changed the moment the experienced mining guys stepped aside and the PI/trader/activist investor assumed the reins. It was never ever the right move, and here we are."
I quite agree with you . To quote a famous engineer , "Britain was made great by folk in flat caps and overalls. It was destroyed by men in flashy ties with briefcases"!
So where do we go from here? If we assume the KSZ drill doesn't give up its treasure in a few weeks time and the Purebond takeover goes through, then what?
The key to success when you have very large areas and deep sand cover is to reduce drilling costs so we can do so much more of it. Maybe Purebond could use some of their investment to fund our own drill team (I estimate £500k to get set up) f*g packet calc admittedly. An engineers salary in Botswana is approx £7k a year btw and I've seen used riggs from £25k. This would set KAV apart as a true exploration company.
Q&A with Purebond is via Telegram tomorrow at 12 noon. I understand it is not with Ben though!
The questions submitted thus far are:
1. What first made you aware of Kavango, and what enhanced your interest to the point you decided to take a potentially controlling share of the company?
2. How do you expect the Kavango data sets, techniques and licences to benefit Purebond? If Kavango fails to make a discovery, are there any other gains you expect to make?
3. Apart from the investment, is there other support you hope to provide Kavango?
4. Will Purebond just be financial backers of the business, or will you take a role in decision making? If the latter, what changes can we expect in the management style?
5. Assuming we don't find mineralisation early on, is there an exploration budget over and above the £6m pledged at this point? If so, have you considered terms?
6. Purebond have pitched their offer to give them a controlling stake of the company (52.5%). You could have invested fractionally less money, and held (for example) 47.5%. What is the rationale behind this?
7. Did you consider taking any of Kavango’s projects private? What was the attraction of investing into a public company?
8. If shareholders were to vote against Stage 2 of the investment, what would you do next?
9. Some of the existing shareholders would love to invest fresh capital into the company at the 1p price you're entering. Would you consider extending your offer to enable existing holders to manage their dilution and join in this fund-raising round, by means of an open-offer or similar?
This is a high risk, high return investnent. No new info has ever been given in a Q&A or a video. So holding back on this vote is just hoping for a positive RNS on something, anything imo! KAV have gone through the best part of £3m and produced dust thus far. They are now asking for another £6m without any real explanation of what they intend to do with it other than head to Zimbabwe. The level of corruption there is off the scale and at every level . Nobody invests there for this reason and KAV are very nieve to think otherwise. Retuning to my first point, the size of the proposed dilution at this level effectively removes any hope of future high returns but doesn't de-risk us as they are not providing anything new. We can cling to the thought that that Purebond know something we don't. This may be true but tbh didn't we all say that when they put their first £3m in!
We should stick to Botswana, drill what is proposed , understand the findings, and raise only as needed in stages to protect existing shareholders.
I personally feel Ben is doing his level best . But giving him £6m at this stagec is like letting a child run wild in a sweet shop!
I 'm a long term holder and only want the best for all of us. I respect opposing views.
Ok I've just spoken to our dear friends at Jarvis investment management! They want £20 to vote for each account, that holds the shares. So in my case with 2 isa's and a 1 sipp that £60! Which I think is a total liberty!
We need to send an email detailing our instructions and account numbers from our registered email address only to:
corporateactions@jarvisim.co.uk
I couldn't agree more FKC! Would anyone sink another £6mil into KAV on the info we have. I think not! And now we are off to Zimbabwe which the Frazer institute quotes:
"Once again, the least-attractive jurisdiction for mining investment is Zimbabwe and, in fact, of the 10 least-attractive jurisdictions in the world, eight are in Africa."
It is ranked at 157 out of 180 of the most corrupt nations! Well done Ben another absolute blinder!
Is it the dilution which is the main issue for most? If so maybe try the direct contact route initially
A forum such as a WhatsApp group would allow us all to submit our names and our kav holdings. This will give us an idea of numbers and if sufficient we could draft a letter from all of us to the BOD expressing our concerns. If they see the shareholdings just maybe they will take us more seriously than individual DMs. I've got approx 2mil across various nomine accounts mostly via Jarvis who appear to be the largest holder.