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My theory on KSZ report is they’ve had external experts contributing, KAV wants a particular outcome but they’ve only drilled 4 holes and perhaps the assay results and core analysis only support a limited conclusion i.e sitting on the fence. That said I’d refer anyone to drill Tad 2 and BT’s post market close announcement and presentations, although the conundrum is why given the former BT sat on the assay results for at least 6 months.
JV - no thanks. Larger (producer) partners are looking for investment grade projects rather than early stage exploration. KCB is cheap and quick to drill which gives KAV the opportunity to create a JORC resource at which point the value markedly increases. It will take 100 holes x 200m @ c $70/m (reverse circulation cost), Mindea seem happy to subsidise 50% @ 4p/s so this project is financially doable in complete contrast to GRS.
I8 analysis:
https://www.kavangoresources.com/media-library/news-release-media/rns15june2022
There's not been any news since the announcement they were drilling deeper and at that point they were 480m. The angle of the drill looks like its going away from the central intrusion. Going to suggest the drill stopped at 600m and they've moved to the opposite side of i8 for a second drill which could easily be at 200-300m depth.
I sense BT wants to stop giving running commentaries but on the other hand he regularly hypes things up. He basically gave no info on i1 and instead led heavily with the pre drill analysis on i8. Baring mechanical failure i8 (1) must have finished 10(?) days ago . BT said he expected all Ditau drilling to be finish by the end of July suggesting i8(2) has a further week of drilling followed by a final drill in i1(?) or somewhere else.
They will identify carbonatites (source of REE ) very quickly by visual inspection because they're distinctive and you would think a geo could put a small sample through a local mass spectrometer to identify the composition but they won't release any composition/grade without assays.
The clues for PIs will be:
Core photo's the more the better
Possibly core under UV light can be quite distinctive
Might say they found XXX meters if its a continuous & distinct rock formation
Expedited assays = good, no mention of assays (i1) probably not so good
BT's body language/excitement level although remember TA2DD002 (KSZ) which was important enough to warrant an out of hours RNS and presentation but we've still not had the results after 9 months.
Drilling much deeper than expected, can either mean the modelling didn't match the core, geos following a hunch (like TA2) and they have multiple targets from AMT etc, or they found something and want to maximise the amount of core/data.
Re IPOs; can't see the logic of POW retaining 35% stakes because its very difficult for POW to sell the stake down without collapsing the share price. This is classic conglomerate where the total is worth less than the sum of the parts, conclusion give the IPO shares to investors and let them decide when to realise.
Need to watch the video again, was there a slight smile as BT starting talking about this? The top of the intrusive wasn't massively deep so it's encouraging if they're continuing the drill, a bit like Tad2 in KSZ
"Gold price is unsure at moment but should go up near term."
Inflation is good for gold but rising interest rates is bad for gold (and the Fed/WS hates gold because it interferes in their shenanigans) so baring a black swan like a nuke going off in UKR, its not entirely clear where gold is going.
The main thing to look for is pyrite (crystalline/metallic/golden looking), most often chalcopyrite (copper) but can also be indicative of gold and PGE. The core has loads of fractures and pyrite looking material hence the priority assays.
Metalhead: POW have published a great set of core photos from i10 , some have been posted on Twitter already but others look new. Quite difficult to see any core photos on KAV's website (hint Ben if you're reading this)
https://www.powermetalresources.com/gallery/ditau-project-botswana/
Re Ditau, are you sure as its unlike Turney & Johnson not to be shouting from the rooftop.
Which drill is it? target depth?
At the start of the Ditau campaign one of them said along the lines of...it won't be until the third hole that we'll know if we're onto something. Here we are and there's radio silence on Ditau.
KCB = "third quarter" i.e. 30th Sept, on the call BT asks Bret Grist (?) who spend 3 minutes waffling before giving the answer.
B1 = TBC, BT has repeatedly said its a priority but won't commit. I suggested on Twitter some time ago this should be Aug straight after Ditau but they obviously have other plans.