Since the Beginning of August is actually next week... here's a bit of summary information to review in the context of those Drill bits beginning to spin.
And for those you may not know already , they've done a lot of previous work at Kookynie up until now.
But for those that don't , here is a brief overview. So if we look at their 2022 Annual Report we can see that they had stated they had drilled a total of 155 RC holes ( including 3 Diamond Holes ) for a total of 13,306 meters .
Then in May this year they had planned 8 holes for 1,400 additional RC holes but decided they would drill an additional 2 for a total of 10 holes for a total of 1,550 metres to add onto that previous grand total .
So that's now 165 holes for 14,856 meters. So not exactly small change and I guess what you'd expect to see on a potential new deposit with a potential strike length of over 1 kilometer by a width of over 200 meters and 200 meters deep.
So sounds like a definite NEW discovery PIT to me. wouldn't you all think.
So moving on then to the change of notice updated by the Coulson's ( which would now include his 3 other family members balances held in the Top 20 holders as at September 2022. )
So we can see from this current notice that they were in fact consolidated into the ONE single balance of 365,224,679 on April 24th 2023 .....2 months in advance of the 23rd February 2023 notice of change in substantial holders.......
Sounds like an SYA mistake by Crawford right.........
![what.png](https://hotcopper.com.au/images/smilies/what.png)
And so this transaction which seems almost magical in a sense how it was done 2 months into the FUTURE ,was effected by an ' Off Market ' de facto price of .002 cents. However , the funniest thing is that there was no normal trading on the 24th April ( day before Anzac Day ) which was a Monday , and with the last closing price on the Friday being .003 cents.
So on the 23rd Feb , the SP closed at .002 after hitting a intra day high of .004 , and closed at .003 every single day after that until the 26th April...... or 2 days after this MAGICAL FUTURE notice was lodged on the ASX on 23rd February.
So at that time and on a news footing front , there was no real news in April apart from the Quarterlies on 27th April , and it wasn't to be for another month until 23rd & 30th May that the FIRST RC drill results were released on Kookynie.
So all that in itself seems pretty bazaar. First the time period from 17th March 2021 through 20th September 2022 where absolutely no change in those individual Top 20 holding amounts were ever reported.......So that in itself is good news when your Top holders holding almost 20% have not sold a single share. Then BANG , he Phillip Coulson consolidates the entire family holdings without ever selling one single share in all of that time..
But even stranger than that is that after this wholesale change of substantial notice made obviously AFTER the Top 20 individual holdings disclosures which clearly add to those same amounts which were disclosed in the Annual Report some 9 months later on 20th September 2022......., but again was NOT updated in an official change in substantial holders notice until; February 2023. So why di he ( Phillip ) choose this time with the ' Mistake ' forward date of May to show that he consolidated ALL his family members holdings. So before the phase 2 drill program commenced but using the date that it actually did ......
So you can go back and substantiate all this by the Substantial Holders disclosure on the 23rd Feb 2023 which can then be reconciled with the Annual Report which adds in these other holdings which total the 176,924,850 , and which had been spread across the other Brothers and family members accounts.
What's really interesting though , is that to date at least , it would appear that at NO time did this overall balance of the 365,224,679 change ...... in fact , their balance actually increased by 10 million shares to 375,224,679 before they obviously pick up another 44,444,444 in this recent capital raise spending another $200,000 at .0045 cent. So why didn't we ever hear about this additional 10 million in shares acquired after the 24th Feb 2023 notice and the recent notice just received.
So who knows really , but we certainly didn't see any substantial holders notice for them acquiring another 10 million shares before this raise.
What's good about it though - is the fact that they could have easily sold as many shares as they would have liked given BOTH the volumes and prices obtained in the recent rally since early July .........But didn't .....
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And this point is never more evident than when you look at the recent numbers. And the numbers show that since the Trading Halt on 30th June , a total of 630,747,165 shares have changed hands just on the ASX alone......., and giving the Coulson's every opportunity to jettison some shares if they so wished.. But again , they didn't.
So for me that demonstrates real commitment and conviction to their collective investment holdings in CAV.
My FINAL point whilst a bit redundant now since they've already come out and announced their Drill program for August is about this notion that somehow it may have been difficult to have obtained a drill rig which might result in some delays.
So my answer to that if I had of posted would be simply to highlight the relationship with DeGrey mining and one of its regular Drilling Contractors Topdrill drilling contractors owned by Tim Topham and based not far away from CAV's tenements in Kalgoorlie.
And while Topdrill has only been around since 2006 , Tim has been involved in the contract drilling industry for over 18 years with Topdrill even being involved in ' Equity in exchange for Drilling services....so there's another potential benefits should this round be immensely successful and requiring further stepped up......or out drilling campaigns.
Whatever the case , the direct connections to DeGrey Mining is potentially a significant benefit to CAV should we end up using or requiring expedient drilling works.
Have a great weekend all. Looking forwards to August starting with a huge
' Fillip ' to the share price......
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