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So glad I got in here..
They're manipulating the share price for the Stage 2 funding which is the nail in the coffin for LTHs
Ben has been (mercifully) quiet of late but he is booked to do the LSE Webinar on 25th July. My guess is this will all about the opportunities arising from a Purebond takeover.
In the meantime he is keeping schtum on the progress of the B1 drilling and the results of the Ditau assays (due May). It makes me wonder just who Ben is serving as it definitely isn't KAV's LTH.
Terrible RNS is this now 3 or 4 misses?
Don't try and tell me that it was just coincidence that large seller offloaded this morning!
Absolutely gutting news on the KSZ :(
Who'd have thought that Graphite could be mistaken for Nickel.
Seriously f****d that up eh . What a joke
Very disappointing outcome, but that comes with the territory of junior exploration. Was news obviously leaked though as their were big exits before the RNS? All imo
Yep. Not great.
Still, it's the risk we take. Gutting. Everyone now has to evaluate if they liquidate and move on or not and when. The 1p dilution may be a blessing at supporting the shareprice a little, for new investors. Obviouslynl not ideal for the long term holders.
Atb
Is this likely to impact on Stage 2 of PB's 'investment' at 1p and raising that cash from them?
Not according to today's RNS. Says will finalise at previously agreed terms. So have to see.
If they wanted to buy that volume of KAV on the open market they'd pay lots more.
Dunno though. Time will tell.
Yes, just re-read the RNS and it was covered at the very end of it:
"Kavango will now also finalise the prospectus for completion of the £4.6million investment from Purebond that will move ahead on the terms agreed in May."
No one wanted a dud and no one wanted the dilution the financing would potentially bring.
I'd much rather be in a position from this drill to be able to reject the second raise at a penny had we been re rated after a materially significant discovery. However given the actual result from the drill, at least we've got the raise at a decent premium. Which was why Ben did the raise as a risk managed approach.
Not sure if I'll hold long term or not. Depends on the next few weeks. However I don't intend to sell immediately and certainly not below the slfinance strike price.
Atb
My take is that BT is just an Unlucky General. The Great Red Spot went to three spots. Now it seems that the massive conductance readings were nothing but dust.
Scientifically, it shouldn't/couldn't make a difference to the drill results, but my gut tells me Mike Moles would have been luckier then Ben.
As for Zimbabwe? I'm wondering if this is just a Lifestyle Choice to try and keep interest in the company.
ATB, FG
Just seen us near the top of the fallers board and read the RNS. Unbelievable that the KSZ has come up with nothing once again. KAV hasn’t found anyone across all of its projects, never mind anything that could be considered commercially viable and attractive to another party. I’m starting to think the BoD couldn’t hit water if they jumped off a boat!
Having bought in around 2p I’m now kicking myself for not selling-up around 6p with a nice profit, rather than holding at 0.6p, when the company has nothing, Doh! You win some, you lose some I suppose.
Well, I sold the second the RNS appeared. This was the project I had the most hope for, the reason why I was still holding after all the previous failures, so to see not only the failure of a drill but the complete failure of the geophysics and the icing of the project spells the end for me. I don’t blame the board for my losses. What has happened is that I bought into the idea that you could use geophysics to explore effectively under the sand. I think we have now comprehensively proven that you can’t. My mistake. Or, perhaps, my gamble that didn’t pay off. Clearly it may turn out that the share prices rises back above the price I sold at, but with the KSZ dead, my assessment is that other companies are cheaper. I wish those of you who remain all the best.
Sorry for your loss.
TBF you can effectively use geophysics to explore effectively under cover, however you also need an open mind. Certain folk cautioned that such really high readings could be due to graphite and were ridiculed on this board. Turned out to be correct.
Problem as ever is hype and lack of managerial nouse. Groupthink. Geophysical contractors are paid to sell stories, geophysicists often optimistic. The writing was always on the wall when they refused to do a full post mortem on the first KSZ holes and never properly released results. Graphite /carbonaceous matter in those? Still have no clue.
Pinning all hope on drilling deep holes on marginal targets will always be high risk. Still I see absolutely no reason to ever invest in KAV again.
All IMHO, DYOR and GLTA(brave)H!
All the best metal head.