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I found this from British Virgin Islands Finacial Services Commission =
Public Statements
ERIDGE CAPITAL LIMITED
Tortola, British Virgin Islands - 5th October 2022 - The British Virgin Islands Financial Services Commission ("the FSC”) considers it necessary to issue this Public Statement in order to protect the customers, creditors or persons who may have been solicited to conduct business by ERIDGE CAPITAL LIMITED and to make the general public aware that the entity has been struck off the BVI Register of Companies ("the Register”) and has never been licensed or regulated by the FSC to carry on any type of financial services business.
The details are:
On 14th March 2018, ERIDGE CAPITAL LIMITED was continued into the BVI as a business company, having previously been registered in Jersey as NEW WORLD OIL & GAS PLC. https://www.jerseyfsc.org/news-and-events/new-world-oil-gas-plc/. The entity has never been licensed or regulated by the FSC to conduct investment business or any financial services business in or from within the BVI.
The FSC is aware of complaints circulating on various internet sites from investors/shareholders of ERIDGE CAPITAL LIMITED and wishes to make the general public aware that on 2nd November 2021, the company was struck off the Register. Under BVI company laws, a struck-off company, and the directors, members and any liquidator or receiver thereof, are prohibited from dealing with the assets of the company and from acting in any way with respect to the affairs of the company.
Members of the public are therefore advised to exercise extreme caution if solicited at any time to conduct business with ERIDGE CAPITAL LIMITED. The public is invited to provide the FSC with any relevant information on any questionable entities which are purportedly operating in or from within the Territory and on any improper activities engaged in by such entities.
The FSC has issued this Public Statement pursuant to Section 37A of the Financial Services Commission Act, 2001.
https://www.bvifsc.vg/library/alerts/public-statement-17-2022-eridge-capital-limited
Also a name change for Eridge Capital UK to Rapid Capital on 31/10/23.
My previous reference to World Class statements came directly from the twitter - x.com/KavangoRes and x.com/ben_turney own accounts, surprised you haven't seen them JP2000, many other posters seem to have.
Here is another example.
https://twitter.com/KavangoRes/status/1414535986982395907
#KAV #Copper #Nickel #PGMs #REE
𝐓𝐇𝐄 𝐂𝐀𝐒𝐄 𝐅𝐎𝐑 𝐊𝐀𝐕𝐀𝐍𝐆𝐎
Management Alignment
Genuine World Class Projects #KSZ #KCB #Ditau
Fully Financed for 2021 Work Programme
Consistency of Narrative
#KSZ #KCB #Ditau
There are lots more "World Class£ quotes, surprised you haven't found them both from Ben and Kavango Resources.
This is clearly not mis-information but facts from the CEO and Kavango Resources twitter feeds. Maybe you'd benefit from a bit more research instead of potentially libelling other posters in my opinion.
If you don't like the statements then you need to take it up with Ben and Kav as its also in their rns's etc.
A few Twitter World Class comments, there are others.
12 JUL 2021
#KAV #Copper #Nickel #PGMs #REE
𝐓𝐇𝐄 𝐂𝐀𝐒𝐄 𝐅𝐎𝐑 𝐊𝐀𝐕𝐀𝐍𝐆𝐎
Management Alignment
Genuine World Class Projects #KSZ #KCB #Ditau
Fully Financed for 2021 Work Programme
Consistency of Narrative
#KSZ #KCB #Ditau
https://buff.ly/2MbpVn7
JUL 27 2021
#KAV #KSZ #KCB #Ditau
𝐊𝐀𝐕𝐀𝐍𝐆𝐎 𝐑𝐄𝐒𝐎𝐔𝐑𝐂𝐄𝐒
"Targeting World Class Base and Precious Metal Deposits in Botswana"
Visit the Company website for further information via the link below
#Nickel #Copper #PGMs #REEs
https://buff.ly/2MbpVn7
11 OCT 2022
BEN TURNEY
#KAV’s goal is to become #Botswana’s leading minerals exploration company
When I became CEO, I said we would build a world class business. Our team has embraced this philosophy & we’ve taken huge steps in that direction over the last year
All we need now is to hit some metal…
BEN TURNEY
11 NOV 2021
All credit to the brains behind this operation. The team we’ve put together is genuinely inspirational
The work I’ve seen today is first class
I love days like this, when all the hard graft culminates beautifully
#KAV has real potential to make multiple world class discoveries
Bozi - My thoughts and opinions are below.
That doesn't address the fact that BT figured something was wrong with the trading in those tweets and yet we are here now and nothing else has been said or done. If some shareholders wish to bury their head, so be it, I don't and won't ignore it.
If things weren't/aren't as should be, the Company has a duty to investigate and update shareholders (who do own the company after all!) and correct / restore it to how it should be trading in my opinion.
Actions are needed into all this and looking at by the TOP FSA & others etc I think.
FKC - Thank you for your update on the AGM, much appreciated.
In my opinion - People, please open your eyes and wake up! Small caps are being delisted all over the place and being wiped out by a larger shareholders/debt, it is happening e.g. (BRD / Teichmann) - It happens a lot. (Even New World Oil and Gas/Eridge Capital shareholding is now owned by our very own BT) what happened to those previous 2bn shares/ shareholders investments in the company? - do some research for yourself.
From my observations, I can see PB (via PWB maybe??) eventually taking over here/ it going private. Beyond the £6m raised there will be more funds needed. This will arrive probably from the same source, (CLN's etc/similar debt) until they hold even more, or the company is in so much debt they will wipe out other shareholders through dilution and possibly take the assets/rest of the company as payment.
Even in the short term if they are locked in, do you really think they are going to let you have all the best cakes in the shop window and just sit happily in the background waiting for the rest - really?? Or do you think they may want an even bigger cake for themselves and want pay peanuts? What price have they paid to date for their shares versus the 6p/2.50p/2.75p /2.85p etc previous placings that others have had to pay? Look at the facts to date...
Even allowing them the 1st stage of shares is dangerous I think - they will have a controlling interest so will be calling the shots.
BT thought there was something very wrong with the shareprice last year, hence his Twitter posts and spent a weekend looking into it, he was clearly surprised at that point that the share price wasn't rising, and then he fell silent - no more info on it...., unil that point he was being very lean on the placings and putting all the funds into the ground, then something seemed to change, and now we have this. I don't personally believe in coincidences..
I believe there is CP/insiders at work here and that they hold over 30% hence the vote outcome. Its so very wrong and ordinary shareholders do need to do something quickly to protect their investments before its too late - my thoughts.
In regard to PWB, because of his link to Moxico and that link to PB (a shareholder in Moxico) and to Tamesis, I'm not totally convinced that his intentions are aligned to the small investor either, but again its purely my thoughts, I could be wrong.
These are my personal thoughts as a low hanging fruit shareholder who just wants what's right and the proper returns for the small investor who have believed in this company to date.
I believe we have brilliant assets, also why else would someone want to invest so much? but its whether we get to hold onto them, is my opinion.
If I'm wrong, the share price should rise over the next couple months to 15p to reflect our assets & grow from there, if not..
I think we're at a critical stage for the small investor.
These BT tweets and the share price is why I think something went on with the share price and my previous comments.
3 OF 3 (not 2)!
BT twitter May 2022
Thank you Andrew, we really appreciate your support and that of all our long term holders. We are a tightly held stock, so it’s our responsibility to make sure we manage the mechanics of it correctly
#KAV
9:44 AM · May 10, 2022
https://twitter.com/Ben_Turney/status/1523947124681027584
2 of 2
- tweets from bt
for the record, i believe legitimate shorting is a vitally important function of a healthy market
what i object to are the undisclosed, toxic, corrupt practices of a small select group
if you're short >0.5% of a company's issued share cap, play by the rules & disclose it!
#kav
5:20 pm · may 12, 2022
twitter.com/ben_turney/status/1524786587057496064
-------------
nose back to the grindstone for the next 10+ hours, then spending the evening on a little trade analysis
the excitement never stops for the ceo of a london-listed plc
8:08 am · may 13, 2022
https://twitter.com/ben_turney/status/1525010103321210880
---------------------------
as ceo of #kav i have at my disposal a powerful ****nal of tools to keep the market for our stock honest
#kav shares are extremely tightly held
we also have two highly supportive brokers
full analysis of individual trades will not take me long
i know what i'm looking for
5:17 pm · may 12, 2022
https://twitter.com/ben_turney/status/1524785824373555204
---------------------------------
just thought i'd expand on my thoughts & comments and my rationale for such. again its all my thinking.
please do your own research.
FKC, FK and StanAccy, thank you for your disclosures, it was just interesting to see which posters were upfront and the posters who ignored this request. I was curious after KeithOz disappearing due to some kind of conflict of interest or similar and wondered if it applied elsewhere to other posters, or if we were all just investors...
Bozi - just to clarify, I did not suggest they were on the rob.
In relation to the fishyness & sham of the shareprice & deathsphiral comment I made - The share price was even looked at by BT when the share price was around 3p (much higher) in May 2022. He tweeted regarding a section 793 report. Also a report wa were going to be published supposedly on Twitter - BT spent a weekend on it & I think he clearly believed something was wrong and someone was short, yet I never saw it mentioned again - (Some of his Tweets and url's below). -
In regard to their options and salaries - Performance based and Bonusus are usually given when targets are met & success has been achieved, we're not there yet so why do they have them yet??
News / info - there are assays still outstanding, a current update on KSZ would be nice been (silence for a week), put every report KAV have had on the website for shareholders to view. Put EVERY photo of the drilling on the website (BT said he would do this previously on Twitter, never happened for all of the photos). Theres a lot of info that KeithOz mentioned previously and other holders - get it in the public domain rns'd or on the website!
Get the Stockbox/Q&A/Telegram info released for his and the PureBond one - both still remain only seen by a few people to date. Expecting people to do Telegram and potentially breach their IPs/other risks is not on I don't think.
Any info on the Ditau probably Gold Lode System should be released to all shareholders. All info PB has been given should be with all shareholders if they have more info than us.
----------------------------------------
twitter tweet from BT
I’ve been asked a lot today why we didn’t take the full £1.4m in the placing. The simple answer is because we don’t need it at this level
Since I got involved with #KAV in April ‘20 I’ve ensured we’ve managed dilution carefully
This is vital to deliver long-term outsize returns
-------------------------
It’s a personal perspective and not a company one
I’m planning to shed some light on my decision on the placing but I’m waiting on a report. That’s out of my hands
I’ll publish it when it’s ready so no firm deadline
11:25 AM · May 10, 2022
https://twitter.com/Ben_Turney/status/1524012063374430209
-----------------
Each month I get a Section 793 report
This gives me full insight into who specifically owns #KAV stock & how issued shares move around
I learned about these reports during my days as an investigative writer, pursuing illegal undisclosed shorting
4:57 PM · May 12, 2022
https://twitter.com/Ben_Turney/status/15247808186
My previous post point was (as I stated) I hadn't realised and was letting FKC know incase he didn't - it was meant how it reads!
Here's an idea for BT, he said the PureBond deal is the only one on the table (or similar). Just looking at the Warrants at Dec 22 in the Annual Report- Get the share price up and get this little lot cashed in, do what you ought to have done in the first place.
Details of the warrants outstanding as at 31 December 2022 are as follows:
Warrants Exercise price (pence) Grant date Expiry date No of Warrants outstanding
2020 A Warrants 1.00 15 April 2020 28 April 2023 2,375,000
2020 B Warrants 2.50 On exercise of A Warrants 28 April 2023 39,685,875
2020 4.25p Placing 4.25 20 November 2020 20 May 2023 73,483,637
2021 Spectral Warrants 4.25 20 April 2021 20 April 2025 3,000,000
2021 8.5p Placing 8.50 5 July 2021 5 July 2023 39,890,911
2022 5.0p Placing 5.00 9 May 2022 31 December 2023 25,000,000
2022 3.0p Placing 3.00 17 November 2022 17 November 2024 194,444,437
2022 Shongwe Warrants 8.50 17 November 2022 17 November 2024 2,000,000
2022 Tamesis Warrants 3.00 17 November 2022 17 November 2024 8,333,334
2022 Power Warrants 4.25 25 November 2022 28 April 2023 30,000,000
2022 Power Warrants 5.50 25 November 2022 28 April 2023 30,000,000
2022 Power Warrants 3.00 25 November 2022 7 January 2023 15,000,000
Total 462,213,194
I estimated these would have brought in around approx £18.5 million (3 times the amount) (had the all been exercised on time & not allowed to expire) and the dilution is a lot less & would have been far more tolerable than this dreadeful Tamesis PureBond fiasco - why on earth didn't they take this route? The board have totally ignored shareholders who have supported them since the outset and rewarded themselves for total failure to date, if they had been successful, all these warrants would've been issued (along with the others that have expired along the way).
At the time the warrants were issued, their prices did not seem excessive in regard to the placing price at the time and infact should've been an encouragement to the board to do well for the shareholders. Not this fishy sham of a situation as I see it.
Get all the data out to us on assays / drills / precious metals / drilling info etc - get the share price up where it should be (instead of this "worked" death spiral price that you have allowed to occur. Do what you are paid for and have already rewarded yourself handsomely in options etc for - this is what I think.
If anyone replies, I require the following full disclosure please - advise if you are purely an investor like myself (or a trader), or are a related party to KAV / director or family/friend of Kavango / an associated company to Kavango Resources, First Equity, PureBond, Tamesis etc - i.e. if you have a vested interest or association other than simply holding shares as PI's do. Or are both!
Thank you
Thanks FK, you are probably right, I just thought it was "strange" that the 2022 interim's were missing from the website and couldn't decide if it was an accidental oversight or not....
You probably already know this but seems that Shongwe Resources who sold Kanye Resources 4 licences for $200k - 2 of the directors are Hillary Gumbo and Brett Grist.
20 March 2021 rns
Kanye has signed two separate agreements to purchase 100% of the eight PLs. This includes: - Four PLs in proximity to Ghanzi in the central zone of the Botswana KCB from Shongwe Resources (Pty) Ltd for US$200,000.
Taken from 31 Dec 2022 Accounts
Hillary Gumbo is a director of Kavango Minerals (Pty) Ltd, Kanye Resources (Pty) Ltd, Shongwe Resources (Pty) Ltd and Navassa Resources Ltd; Ben Turney is a director of Kanye Resources Plc; and Brett Grist became a director of Kavango
Minerals (Pty) Ltd on 11 February 2022 and is also a director of Kanye Resources (Pty) Ltd, and Shongwe Resources (Pty) Ltd.
Hadn't realised..
FK, Mike and the founders, were one of the reasons why I originally invested. I liked their philosophy and found their approach refreshing, and they didn't issue shares like confetti as it currently the case with the present board. I think you are right, they are probably as unhappy as we are. Wonder how Paul Johnson and Power Metal Resources feel. Are they related / associated parties / company?
Just wondering on a different note, why the 2022 Interim Results from 9 September 2022 aren't on the Kavango Resources website. In the official release rns's it states they are there but they certainly aren't presently in their investor relations financial reports... Curious...
This is all I can find there:
Accounts Year End 31 December 2022
28/04/2023 15:00:00
Accounts Year End 31 December 2021
13/06/2022 16:50:01
Interim Results for the 6 months to 30 June 2021
30/09/2021 13:29:49
Accounts Year End 31 Dec 2020
13/05/2021 07:00:00
Interim Results for the six month period ended 30 June 2020
01/10/2020 10:40:06
Accounts Year End 31 Dec 2019
17/06/2020 11:25:30
Interim Results for the 6 months to 30 June 2019
14/08/2019 19:50:55
Accounts Year End 31 Dec 2018
30/04/2019 15:38:29
Interim Results for the 6 months to 30 June 2018
27/09/2018 08:19:55
Accounts Year End 2017
04/07/2018 12:36:59
Hi FK Capital, just found an old shareholder doc with holdings on it and thought you may like to see it (if you don't already have it): Think it was around Sept 2021. I remember they originally used to promote the fact on the old website that the directors & founders held 27% but that's been removed now.
Shareholder Number of Ordinary Shares Percentage of issued Ordinary Share capital
JIM Nominees 153,596,000 38%
Other 68,714,000 17%
Directors/Management 64,672,000 16%
Other Founders 44,462,000 11%
Share Nominees 32,336,000 8%
Hargreaves Lansdown 24,252,000 6%
Interactive Investors 16,168,000 4%
Total number of shares in issue 404,200,000
I see Mike Moles holding was showing as Charles Michael Moles 22,092,768 3.13% in the 2022 accounts, not sure what he has now.
Slowlyslowly, it states in the Nov 2022 Prospectus -
6,025,095 of Mr Turney’s shares are held in his personal name. 2,445,456 shares are held by Dynamic Investor Relations Limited, acompany Mr Turney in aggregate directly and indirectly owns 70% of its entire issued share capital.
500,000 shares are held by EridgeCapital (UK) Limited, a company of which Mr Turney owns the entire issued share capital. All of Mr Turney’s shares are held by way ofnominee accounts.
As I said, not sure what happened to the NWOG/Eridge Capital Action Group or if Ben still represents their interests & voting or simply chooses himself how to vote, but I found this after a google search on the Kavango Resources website in the prospectus mentioned above.
You are entitled to your opinon, I personally have a diferent opinion and think small amounts of shares added together create larger amounts, particularly when not everyone votes, equally it should be the correctly entitled holders voting...
Eridge Capital (previously New World Oil & Gas) had 500,000 shares in Kavango Resources - if they still have them, who has the power to use the votes next week at the KAV AGM? BT I think somehow, but just wondering how it occurred and if its his choice or the action group's decision.
NWOG did have 4.2bn shares itself in 2016, and there was an Action Group, but there just appears to be 1 Eridge Capital UK and 1 Eridge Capital BVI now from what I can see.
Does this affect Eridge Capital UK? I'm seeing BVI as a subsidiary of Eridge Capital UK? Does UK still have the 500k Kavango shares? I see BT has the 1 share - his decision oon the vote or is he governed by the NEW/Eridge 4.2bn shareholders / action group?
--------------------------------------------------------------
Public Statement 17 of 2022 - ERIDGE CAPITAL LIMITED
Public Statements
ERIDGE CAPITAL LIMITED
Tortola, British Virgin Islands - 5th October 2022 - The British Virgin Islands Financial Services Commission ("the FSC”) considers it necessary to issue this Public Statement in order to protect the customers, creditors or persons who may have been solicited to conduct business by ERIDGE CAPITAL LIMITED and to make the general public aware that the entity has been struck off the BVI Register of Companies ("the Register”) and has never been licensed or regulated by the FSC to carry on any type of financial services business.
The details are:
On 14th March 2018, ERIDGE CAPITAL LIMITED was continued into the BVI as a business company, having previously been registered in Jersey as NEW WORLD OIL & GAS PLC. https://www.jerseyfsc.org/news-and-events/new-world-oil-gas-plc/. The entity has never been licensed or regulated by the FSC to conduct investment business or any financial services business in or from within the BVI.
The FSC is aware of complaints circulating on various internet sites from investors/shareholders of ERIDGE CAPITAL LIMITED and wishes to make the general public aware that on 2nd November 2021, the company was struck off the Register. Under BVI company laws, a struck-off company, and the directors, members and any liquidator or receiver thereof, are prohibited from dealing with the assets of the company and from acting in any way with respect to the affairs of the company.
Members of the public are therefore advised to exercise extreme caution if solicited at any time to conduct business with ERIDGE CAPITAL LIMITED. The public is invited to provide the FSC with any relevant information on any questionable entities which are purportedly operating in or from within the Territory and on any improper activities engaged in by such entities.
The FSC has issued this Public Statement pursuant to Section 37A of the Financial Services Commission Act, 2001.
https://www.bvifsc.vg/library/alerts/public-statement-17-2022-eridge-capital-limited
This share had TVR of 4,746,786,108 shares in issue in 2016. How come Eridge Capital UK now only has 1 with Ben Turney? What's happened to the Eridge Capital BVI struck off? Does Eridge Capital (UK) still have the 500,000 Kavango Resources shares, and if so who decides upon the voting for this company, BT? How come?
So does that make everyone on the Telegram group who heard it "inside" then?
If he has done this, announcing key information that not available to all shareholders is not on and against the rules, maybe he needs reporting and the FCA need a look at his antics too then.
He said he'd publish it. He needs to get on and and do it now, I'm waiting Ben.
This is wrong, I don't like such practices, it should be out and available for everyone to see.
Ben's message was extremely misleading to PIs who couldn't attend, really unfair.
Before the event on May 16 2023 on Twitter he stated
"If any #KAV shareholders can’t make this event and have questions you’d like to ask, please forward them to @StockBoxMedia or @KavangoRes
The event will be recorded and published on YouTube"
Anyone know what Q&A's were asked? Anything tricky for him? Seems like it to me, why be so cagey else?
I didn't expect his Twitter tweet to mean - at some date in the future between now and doomsday - but rather promptly to help people with their voting decision BEFORE the vote.
He seems to only care about a select few shareholders on Telegram and stuff the rest of us.
Cheers Ben, I've added you to my list of directors to avoid like the plague in future.
If only he was being voted on too....