Kefi Gold And Copper Share Discussion Threads

[goatherd] 18/10/2019 16:14

catchthebreeze,

Quite logical, actually. The underlying assets have not changed; the project is on schedule (the only doubt is whether it will remain so - and we have been told strongly that it will; and the price has gone down. A Strong Buy is wholly logical.

[cjm681] 18/10/2019 16:13

@redrook - I agree. I would love to get together with PI's to agree an action plan because it is blatantly obvious that none of this is in the interest of shareholders. But nobody is interested. This is fraudulent IMO.

[cl2201] 18/10/2019 16:13

@cjm681 - there would of course be no change to the shares in issue but the funds being reimbursed would help bolster the cash reserves and thus reduce the need for these bucket shop placings.

[cjm681] 18/10/2019 16:10

@cl2201 - thanks for the info. How would that be "repaid" tho? Unless shares are purchased back there is irreversible damage done by increasing the shares in issue.

[deanroberthunt] 18/10/2019 16:06

I fink there's a super giant black hole at 0p

[cl2201] 18/10/2019 15:59

This goes a way back but presumably still applies:

Q: Can the first instalment of the ANS subscription be used to fund or refund KEFI’s G&A?

A: Generally yes, because KEFI’s costs are mostly for project financing or project preparations.

It could and should be, therefore, the case that with this current burn rate at least some will be reimbursed upon receipt of the 11.4m USD and the much larger chunk upon final closing.

[scrappycat] 18/10/2019 15:48

I imagine there is considerable expenditure required in preparing the site for development, e.g. implementation of new procedures following the security review, construction of on site roads, connection of increased mains electricity on site, recruitment etc.

Others will no doubt think of more, and just my guess, of course, but given the apparent imminence of financing, it seems reasonable to assume Kefi will be required to make a start on this, and the money will have to come from somewhere.

[jaylett] 18/10/2019 15:18

Can anyone explain to me why on Earth the company needs cash with such regularity? Particularly given the expectation of the ANS money coming in the next week or so. I genuinely don't understand what's driving this, is the cash burn really that high? Is HAA the one pulling the trigger on these drawn downs, or is it being forced on us by someone under the terms of the agreement?

I appreciate the need for a facility as a last resort, but this doesn't feel like any such thing. It actually feels close to deliberate sabotage, but of course that's ludicrous...

[alamaison5] 18/10/2019 15:16

So, another 27,000,000 shares issue hey? Sold right on time. Now waiting for these to clear again. Last time .74p did marvel to me.
New shares issued at .65p. So KEFI might hit .7p again...
I see this as an opportunity.
Don't you?

[jaylett] 18/10/2019 15:07

I haven't seen "IHWT" posted for a while. Do we? Does anyone at this stage?

[pjj71] 18/10/2019 14:57

the death spiral financing (a masterpiece by the guys who are the beneficiaries btw) is at least regular and can be relied on... its uncanny how certain aim stocks are fantastic at releasing bad news but never seem to muster the long awaited positive RNSs.. as we all know deep down those 'locals' investors have led Harry on a very merry dance for over a year now and are fantastic at expressing an interest as long as they dont have to pay anything... IMO why will that change... see you next Friday for the next installment of the death spiral..

[deme1] 18/10/2019 14:51

Harry the confetti cannon

Get into JLP whilst it is cheap!

[catchthebreeze] 18/10/2019 14:41

Wow this company strips your wealth quicker than Bugatti Veyron! Wow how HAA talks a good talk.

[pjj71] 18/10/2019 14:35

timmmbbbeerrrr... more confetti at ever lower prices... all while the locals review the review of the review... my review of this situation is review next year when the locals have reviewed the next set of reviews..

[catchthebreeze] 18/10/2019 14:25

Tin hats! More dilution @.664p...all the good work of the last couple of days undone...still offering buys at .83p haven't tried a dummy sell.

[shortarm] 18/10/2019 11:12

Bored?I suppose you have to do something while you wait for your dole money?

[pjj71] 18/10/2019 10:44

have the locals reviewed the review of what they knew but felt they should review in order to review the timeline to enable the project to proceed... unfortunately it looks like a review of the new timeline could review itself soon... will tranche 2 and 3 also need to be reviewed after the review of the anniversary of the initial review and still no cash???

[cybaajak] 18/10/2019 10:34

I stand corrected. Thank you. $38m USD from ANS not $58M.

I still can;t find the exact details of 'the remainder at full closing', but again, I agree with the 1st tranche of $11.4m (in BIRR equivalent). Just more aware of having read, fairly recently, it was still 3 tranches, not 1st THEN final.

[cl2201] 18/10/2019 10:05

'Also please try to remember that the money is purported to be in 3 (not 2, or 1 , but 3, that's 1 after the other twice, like 1 then 2 then 3 amounts summing up to $58m) tranches ALL before End March 2020. So if it takes this long to squeeze less than a third of the whole amount, i.e. $11.4m, how in the hell is HAA going to get the tightfisted ANS to cough up the rest.'

This is incorrect. 11.4m USD as the first tranche and the remainder at full closing. It is 38m USD from ANS, not 58m USD.