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You make a good point Legalwolf, well done on your success.
I freely admit I did miss out on the rise from 0.65 to since Ferbruary, with the flatlining over the year before it was a surprise to see that coming. But my initital interest in KAV was never to double what I started with (and it ended up being ground down a third before realising the game had burnt me).
So as ever with this crowd, what comes next is more important. Can it be a ten-bagger from here? IMHO no, but I recongnise some will hype it.
History is important, but yes, taking a risk and punting against all the odds can occasionally pay off.
Well done on your success so far, here's hoping for your sake I'm wrong if you are indeed still accumulating. I'll wait this out happy to note there are other better opportunities.
All IMHO and GLTAH but DYOR
Surprised no one has commented on the last annual report released just now;
$5 million spaffed against the wall in the last 2 years, management bonuses included, and for what?
"But it will all be different this time around" surely.
All IMHO, and GLTAH but personally not seeing anything to get excited about given the burn so, really;, DYOR
EDIT - sorry. slip of the pen: 4th para starts "They would've known", obviously!!! didn't let me correct edit it... apologies
Applying a paltry 1.1g/t Au cut-off grade, all you get is 30cm at 200g/t at U/G mining depth. No evidence of any bulk mineable grade thickness in that hole at all.
OK that grade is truly impressive. But what does the repeat assaying or, given nugget effect, the screen fire assays show? The CP/QP does not say...
Allowing for mining diultion and the fact it appears 30 degrees oblique to the structure, is it really worth getting out of bed for? High grade gold in a skinny vein below old open workings? Roll out the barrel.
They've known about the VG since it was drilled (didn't mention it then in the RNS of 25 Jan), had pXRF available etc., so the in crowd would have been in the know.
Let's hope they find something noteworthy in the rest...
IMHO, DYOR, GLTAH
Sorry, JP 2000 not PJ
PJ 2000,
you clearly stated "KSZ targeted nickel" before. And you are still sticking to that line. But KAV's own RNS said the following:
"PRESS RELEASE
28 October 2019
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
the Company's geological model, aimed at discovering a Cu-Co-PGE Norilsk-style magmatic sulphide ore body."
Once you acknowledge that, we can progress. The hype around that pic of core at the time was the shape of things to come. 4 more years of the same!
I am quoting directly from the company documents at the time. I am not the one spinning things.
Quote=JP2000
"Facts:
1. KSZ targeted nickel
2. De Beers had a diamond prospecting licence so weren’t interested in gold.
KAV have effectively shelved Ditau.
3. Tight focus on KCB Karakubis, Zim exploration and minor Au production.
52 % shareholder so BT will be held to account.
4. It is malicious when you don’t have a holding and simply trash." /quote
Hello again JP2000 :)
I am unsure why you constantly seek to play men and not balls, but let's revisit those "facts" shall we?
1. "PRESS RELEASE
28 October 2019
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
the Company's geological model, aimed at discovering a Cu-Co-PGE Norilsk-style magmatic sulphide ore body."
So, here you are misleading. KSZ did not target just Ni. The horses mouth added PGEs. The company may have removed the original picture of the pegamatoidal gabbro they were touting as a MR lookalike from the website, but the problem with the internet is it remembers. That pic and the hype around it still exists... 4 years later, none the wiser ;)
2. Maybe you have no direct experience of southern African MinEx. DeBeers did indeed have a diamond licence when it explored Dittau. Why would you say they weren't interested in Au, it doesn't follow? They are linked at the hip (and were then) with Anglo. They employed sensible geologists. Any core they drilled that looked like it could be auriferous would have been referred internally, and AAC or AGA would have been privvy to that. Regardless of whether AAC/AGA had a gold licence or not. I and many others who worked with them or their subs know this all too well. Sorry you do not agree.
3. Here I can agree this may be a good thing. The past can be swept under the carpet and forgotten (shareholders from then, like me, can perhaps excuse their losses. I really do expect better things in Zims and sincerely hope KAV can turn things around. You recently posted sensibly about how much Au they needed to discover to turn things round and I agreee. I am not convinced they will as there's years of profligate spending, wasted opportunities etc.
Perhaps the new majority shareholder will hold to account if this turns into another dud for the minority holders? Fingers crossed!
4. Come now. Not malicious to state facts and question the inordinate amount of ramping, especially when the rampers are down 4-0 project wise... Non-holders like me are non-holders because we sold our holdings at a major loss because we believed the original hype then wised up. I am still around because I see potential, and could climb in, but want to see tangiable results rather than more pump...
Personally, I think we're spending a bit too much time hashing over water under the bridge/exploration dollars down the drain. Hopefully the new project will work out and won't be another waste of funds.
All IMHO, anyway, GLTAH, but really: DYOR
PS - that last post of mine was in reply to Overtraders 18 Mar post... rather than Ria's spam...
how do you get that?
he's basically saying the guys at kav/pow/etc. have the appearance of serial pumpers of fairly pants projects and chancers. to all who make some money off that, fine, good luck to you. ethics however...
for all that hype, others suspect it's overpromoted (recall kav and their "pge" in the ksz, or the au in core that debeers (always close to anglogold) "missed!". massive wastes of valuable cash. a decent geo could have found a resource with what they spent!
but of course "next time will be different". at times some of their promoters turned into detractors, then hey presto they are back promoting it and ****ging anyone sensible enough to say "wait a minute, we've been here before (and some have been had)"
it's not malicious to state facts and keep folk on a path with a sense of proportion. there's always lots of the opposite about.
looking forward to seeing what their results from this au drilling in zims are, perhaps it will be worth a punt after all? it's certainly not now, but that's just imho.
dyor and gltah, as ever.
QUOTE Andii "Did the interview mention the rhodium intersect of 5m at 2100g/t? As rhodium is valued north of $3000/oz, isn't that quite spectacular?"UNQUOTE
Spectacular?
Or spectacularly wrong?
Rhodium (Rh) has a value over 10x that of Rubidium (Rb). Rh is about 4,5000 an ounce according to Wikipedia (hence likely wrong!)
Rb is what FCM are talking about having discovered.
Rb is a constant in lots of pegmatites (e.g. Pollucite in Bikita, Zims) and valued at $480 an ounce. But that's for the pure metal and refining it costs a lot... recoveries are low.
Alternatively, could again just be "pants hype" ;)
IMHO, GLTAH but more importantly DYOR
Good point Alavib
Quite how a company with loads of moose pasture, historically only drilling dusters, and a concomitant lack of focus, has an MC North of £20MM is lost on me.
IMHO, DYOR, GLTAH
LOL.
It's a platform with a history of bots, insider trading, use by terrs and nefarious regimes.
Valid criticism out in the open is hardly "grinding axes" - any geo worth their salt should know that...
But sure, go ahead and carry on with the Confirmation Bias at the expense of valid questions by cynics who've already been relieved of the hard-earned by over-promising and under-delivering...
Out of the frying pan
Into the fire...
IMHO, DYOR, LGTAH
When the drill has turned, you'll wish you'd have learned (from all the previous dusters)
LOL.
IMHO, GLTAH and most of all DYOR
Hi JP2000
My view is that like all KAV's / POWs (I tend to still link them as they share similar MOs and likelyhoods of success) it's another pie in the sky conceptual thing that will be an exploration money pit. Having spent a lot of hard-earned drilling belting CSAMT etc. anomalies in the past to find the quare route of SFA, my personal view remains that this is all a stretch, like the graphite in the KSZ we postulated and some sneered at...
So there's always the chance it COULD come up with a belter, but the likelyhood is it will be another shareholder loss whilst funding the Zims lifestyles and tax free wedges.
Would love to be wrong, but don't think so: will pop by and admit it if proven to be, but all in all another bunch of money pits.
All IMHO, DYOR and most importantly given the last few years when it's never come about - GLTAH.
Sorry, should have read "lead turkey"
"So they will have plenty in the tank for 2024 and there is also the possibility of revenue from Nara."
KMRIA!
Knowing how southern African artisanal plays go, this must be a contender for "Quote of the Year" ....
Seems to be going down like a Pb-turnip
All IMHO, could be wrong and DYOR.
Good point Bots_Projects.
The technical folk involved in this venture appear to have no experience of actually finding 1 Moz Au, unless you count greenstone outcrops grading 0.01ppm! Remember how much gold there is in the sea!
Being involved in old Anglo Au, or Cu for that matter, projects post-discovery is not the same as actually finding anything. Finding 1Moz is hard.
The median deposit size for Zim greenstone belts is a lot lower, and that's before the artisinals (historically local, but oftentimes now supported by mechanised kit courtey of Sino-African friendship arrangements ( :rolleyes: ), have had their fill...
It's a bit like POW supporters still needlessly pumping Tati, when they had been offered the prize they took the dregs, and dregs it shall remain. Seem like attempts to suck in the unknowing.
Still not seeing much to tempt my investment, but will keep looking in to see how the rampers are faring.
All IMHO, DYOR and obviously hope I'm wrong and GLTAH for their sake...
Of course BT is not purely responsible for the fact that all the projects he's drilled to date have been total and utter duds.
His advisors and confidantes should take some of the blame too. He presents these folk as "god like" when in reality they are about as sucessful as most exploration geos (i.e. not very, but coat-tailed on other inventive folks discoveries).
Like the other serial blagger (and BT's pal) who ran POW you can only fool some of the folk some of the time, eventually if you've not been successful enough you end up "mining up your own backside" as anyone who knows high-grade Au-shoot mining will understand. Is the same fate in sight for KAV now the massive Zim opportunity beckons?
Whatever happened to the old DeBeers core from the Dittau project? Also pants.
Actually maybe it should be renamed "Ditto" as all these guys seem to have the same MO - find naff all, rinse and repeat and destroy shareholder value, again and again.
Surely a Board is meant to exercise independent judgement on the suitability of CEOs and calling out BS as well?
If he really is "due some luck", I hope for the sake of those seemingly still being sucked in on hype that it comes very quickly...
All IMHO, DYOR and GLTAH (never again me though!)
Perhaps 0.5 would have been better, selling out at the recent peak before the inevitable decline... If that's the pumpers bag.
Still, there's one born every minute apparently...
IMHO, DYOR and GLTAH, but these guys really do have a great track record of throwing good money after bad and there seems to be no change in course on the horizon.