Financing is the first step; now we’re ready to stride forward

If there’s copper in the ground at the KCB, we’ve given ourselves the very best chance of finding it.
That’s what I said in my last edition of Boots on the Ground, and it’s what I’ve been telling everyone I speak to.
Without doubt, the strategic financing we recently secured takes us a considerable step towards realising what the KCB has to offer.
But it is only a step.
And I’m not so naïve to think it will be all plain sailing from here.
So far though, as our drill campaign progresses well in Botswana, things are looking good.

Drills in the ground at the KCB


On licence PL082, drilling so far has corresponded to what our Controlled-Source Audio-frequency Magnetotellurics (or CSAMT) surveys are showing us. That’s a good sign. If we are able to map the D’Kar/Ngwako Pan contact from surface, this will give us a huge exploration edge in future.
Remember, this is the key contact point that controls the KCB’s copper/silver deposits. Being able to identify where these formational contacts lie within our licences will allow us to improve our drill targeting immensely.
Of course, there is a lot of focus on in the KCB right now. With the drill campaign in full swing, we’re keen to see what the ground turns up.
But as I’ve been briefing elsewhere, the truth is KCB is only part of the puzzle when it comes to Kavango.
This is why, despite the still uncertain market conditions, I’m still quietly confident about what we’re doing.


A cautious time calls for cautious optimism

I understand investors are weary, edgy even.
And I know reading this, you might yourself be suspicious of the market.
I think about that a lot.
It’s why not long ago, in this very newsletter, I pointed out my own belief in focusing on fundamentals. I think that’s important.
It’s how I look at what we’re doing here at Kavango. Fundamentally, I believe we have a good approach to exploration in Botswana.
It has taken time to get to this point, and there is still reason to be cautious, and indeed, patient.
But when I look at the next steps we’re preparing to take, it reminds me that we are moving in the right direction all the time.
Take a look at this slide from a presentation I’ve been sharing with investors and various financial media.

What you’ll see immediately is that our work at KCB is only one of our project areas.
It’s easy to lose sight of this.
The fact is we have opportunities across three different projects.
Yes, there is the campaign underway at KCB, and the next steps there are to complete the current drilling, assess the situation, and select the final drilling targets accordingly.
Thanks to the financing we’ve attracted, we are well positioned to get that all done.
But we have the KSZ too.
There we’re getting ready to drill the “B” conductors, which demonstrate high levels of conductivity and very promising Norilsk-style potential based on the data we’ve already collected.
Indeed, we’ll be carrying out TDEM and CSAMT surveys across the project to get all the insight we can into what the ground might have in store for us.
And on top of the KSZ, you can see we have Ditau too.
There we have CSAMT and gravity surveys, which incur a lower cost than drilling, planned across the 12 ring structure targets we’ve identified.
And we’re looking to drill there too in 2023, particular on our i10 Target where petrological studies have already confirmed an IOCG system.
While there’s so much focus on the KCB, it’s easy for the market and the media to forget about what’s going on at KSZ and Ditau.
I understand. This is how exploration works. Focus appears to move from one project to another as new information surfaces.
But as CEO, I’ve always got one eye on each project, and seeing it all laid out like this, the opportunities we’ve created, it helps to remind me of the sheer scale of what we’re doing here at Kavango. And it’s the reason why, even in times like this, I might still seem bullish.
That said, despite my confidence, like I say, I know there will be challenges ahead and we will need to work as a team to overcome them.
The good news is, we have that team here at Kavango. I see it day in day out and it’s a joy to watch everyone pushing in the same direction.
Exploration is not an exact science. The ground reveals new surprises all the time, some good, some bad, and you must assess sensibly, but quickly.
The drilling at the KCB so far suggests our survey work has been conducted well. I hope things continue like that, but we’ll be ready for whatever the ground throws up.
Still, I know my confidence in what we’re doing is not the only thing that will reassure current investors or attract new ones. I know there will be specific issues people are interested in knowing themselves.
This is why, before I sign off for this issue of Boots on the Ground, I want to invite you, dear reader, once again to respond to this very email with any questions about what’s happening at the KCB, or at the KSZ and Ditau.
I’ll collate your questions together and look to do a mailbag issue next time around.
You can email at This email address is being protected from spambots. You need JavaScript enabled to view it.
Otherwise, the future is looking bright for Kavango right now.
Our plans are progressing, drills are in the ground, and we’re learning more about our projects all the time.
In a time of great uncertainty, I hope that gives investors some small reassurance and cause for cautious optimism.