IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video here.
Twitter, see Ben's response.
https://twitter.com/Truffle_Pig99/status/1610954553523900416
BW Christmas break ended 9th Jan, drill team should be back on side mobilising and that takes a couple of days, for comparison B1 (2022) recommenced the equivalent of this Friday so they should be drilling very soon. BT is meant to be giving another Stockbox interview very soon so hopefully it gives more info on the current drills.
One of the underlying issues was the EM on PL082 was wrong and Brett had been focussed on KSZ is now overseeing KCB geophys. The last Boots On The Ground pretty much says the next drill is make or break, it doesn't say what the drill depth is & I'm guessing 400-600m. That's much deeper than the average anticline deposit so it will need decent grades but there is some hope particularly looking at Khoemacau's Zone 5 mine, average grades 2% Cu, Khoemacau have drilled to 1200m and reflects their development plan.
It can easily be 2-3 months, they need to put the results into a model and figure out what it means.
Last year we got assay results on Wishbone, they found mineralisation but it wasn't standalone commercial and share price fell. Some time later Darren appeared with a traffic cone to explain the mineralisation indicated they'd found the periphery of the VMS system hence the 5 drills in 2022 to home in on the main system. Have to say I'm a little disappointed with Darren's communications because he's giving absolutely no clues on what they found.
Buys & sells fairly evenly matched on very low volumes. Drilling starts next week.
Latest tweet:
When drilling restarts next week we'll test an anticipated D’Kar/Ngwako Pan horizon we identified with #CSAMT
It's a key test for #KAV
DK/NP contact controls #KCB #copper/#silver mineralisation
If successful we'll be the 1st company to identify the crucial horizon from surface
On the one hand KAV is in a stronger position than ever before going into 2023, make a couple of discoveries and bag a tier 1 JV and all is forgiven.
In 2022 the CEO 'delivered' 3 drill campaigns but the key outcomes were dreadful, if Turney spent less time "pitching to anyone that will listen" and a bit more time putting pressure on under performing suppliers or questioning KAV's dodgy EM then the outcomes could have been different.
Good news? they've been talking to parties for over 12 months, it depends on the partner, ideally a tier 1 or 2 miner with experience of developing $1bn mines, but given BT's ability to dredge the bottom of the barrel and present as a triumph more likely someone with $15-20m in the bank looking to flip a deal, also I wouldn't rule out POW. Lets assume its a decent large experienced corporate, they're not into wildcat or speculative drilling, they want core with assays and preferably mineral reserves/resources. In fact the best person to ask about JV's or transactions is probably Keithoz, he'll be able to say exactly what makes KSZ investment grade. The absolute key to unlocking shareholder value is B1 and my guess is POW will have finished drilling Molopo by mid Feb (one hole left to drill).
I wish there was more information on the Wishbone VMS. There's very little public information (no AEM or CSAMT) and the drilling in 2021 found (from the composition/grades) the edge of a system hence the 5 drills in 2022 were looking for the main system. Yesterday Darren mentioned assays which is some comfort so there must be new VMS core, results expected Feb-Mar (?). There has to be a happy medium between keeping investors informed and commercial confidentiality whereas Panther have said absolutely nothing on the 2022 campaign.
New stockbox presentation
https://www.youtube.com/watch?v=6IiaWAsL7qQ
Immensely frustrating with the lack of information on the Obonga drills, they've sent cores for assays but the body language is not positive.
I like the appointments, if Bee was 10-15 years younger then an excellent candidate to run KAV.
KAV is on the main market of LSE and should in theory have an senior independent non exec director. There is an exemption for small companies but surely its to investors interests to follow best practice then BT.
The latest email came out this morning. Drill 6 was started and will resume mid Jan. Other than that its pure Turney BS.
Before anyone accuses me of re-ramping, I'm long and have been adding continuously over the last 9 months on the basis of the assets. This PL082 campaign has been an utter shambles, the worst of any Kavango campaigns and that's saying a lot.
The elephant in the room is the B1 drill into a 13000s(?? the figure constantly changes) target. Find Nickel and the share price triples over night, indeed the new Voisey Bay. Find a lump of iron and it kills off northern KSZ.
It sounds to me like KAV will do the deal pre B1 which I think is a mistake.
BW Christmas break starts this weekend, its like their summer holidays so lasts a month.
Drilling will stop Friday (if not earlier)
BT said an update would be issued shortly, either Friday or early next week.
Drills 1-4 were partially completed by early Nov.
Drill 5 looks finished c350m possibly deeper.
No news on drill 6 or 1-4 (DD). They potentially had time to drill 6 although would require CSAMT to validate against drill 5 core.
Next announcement either Friday, Monday or Tuesday. Not expecting a discovery or major find because they'd have announced any good news already and as we know drill 5 as of last week had not discovered the main mineralisation zone. Expect upbeat...some mineralisation...missed by 200m.....expanding campaign in Jan...BT very encouraged.
They're trying to validate CSAMT via Sandfire which sounds sensible. But more practically does the core from hole 5 match the pre drill CSAMT because they started diamond @90m so obviously expected a contact zone at depths 100-200m. More inclined to think the technology is correct but they're either drilling in the wrong place or the location of the CSMAT survey was wrong. They've got 8-9 days max of drilling time, perhaps they revert back to RC with the double shifts and sink 3x200m drills at 100m intervals until they hit something. I would hate KAV to end up with nothing after 2 months.
Update: last night BT said hole 5 had failed to find the D’Kar/Ngwako Pan contact zone where the mineralisation takes place. He refused several times to elaborate if holes 1-4 had completed. BW christmas holidays start at the end of next week and an announcement about the drill campaign will be made.
https://twitter.com/StockBoxMedia/status/1600149313342132231
Lesson learnt from the last Ditau drill plus benefit of CSAMT. Its actually good news except it messes up the timetable. An interesting point is the drill is in the northern target which incidentally had better soil sample results so maybe its a richer area.
More twitter today, they appear to be still drilling hole 5, something is very badly wrong which is probably why yesterday's twitter shows Brett arriving (the second time in 2 months). I honestly want KAV to succeed so what's going on?