Kefi Gold And Copper Share Discussion Threads

[the charmer] 28/10/2019 07:54

Good old Ken.

[cl2201] 28/10/2019 07:14

'good old harry has been led down the garden path by some internet scammers who are branching out into mining'

To quote the Q and A section of Kefi's website: 'The KEFI announcement dated 25 January 2019 sets out the identity of the founding directors and shareholders of ANS Mining such as Ato Zafu (Chairman of United Bank) and Ato Hailemelekot (Chairman of Addis International Bank)'.

[pjj71] 28/10/2019 07:09

Seems like the ANS wallet has remained firmly sealed... hardly a surprise given they haven't paid a cent in the last 2 years... IMO good old harry has been led down the garden path by some internet scammers who are branching out into mining...hehe,

[taxlosstone] 28/10/2019 06:47

Presumably after several security reports, contingency plans are in place for many events including regional unrest. 25% chance of today being the day of the ANS payment announcement. ;-)

[cybaajak] 28/10/2019 06:05

Its not about November. The sheer quantity of separate entities, and weight of government, standing behind HAA statements declares its about October... UNLESS HAA deceived everyone with false RNS's, there is 4 days left for there to be a credible result.

ANYTHING other than funds arriving by the end of October is a fail.

4 days left.

[red rook] 27/10/2019 21:52

digger2779,
...' The farmers will re-locate if the compensation package is to their liking..'

I don't agree. If I was one of those farmers I certainly would not be moving myself and my family. I suspect that no one here would either ... however much the compensation package was. A compensattion package is worthless if they fear for their lives and the lives of their families.

Further, his excellency the prime minister ... the nobel prize winner ... will not want to be seen to be forcing them out of their lands without their consent.

[red rook] 27/10/2019 21:46

aircomm,
...'If we go through November with nothing then I think Harry needs to change tack - we should look to get taken out through a corporate brokerage at around 3.0p.'

If EUA go through November with nothing ... then KEFI is effectively sunk! There will not be a T/O for multiples of the share price .... it will be at fire-sale prices!

Harry has backed himself in a corner ... a position of his own making. There will be no plan B. He is now fully dependent on those canny Ethiopians, and they have Kefi in the palm of their hands. They can afford to wait it out and to delay monies 'promised'.... Kefi can not wait. As stated before they are not dependent on the well being of Kefi ... delay further and they can pick up all of Kefi's assets for next to nothing.

Old Harry will be OK ... he will be given a position in the new corporate structure. As for LT shareholders ... they will be jettisoned by Harry.

[digger2779] 27/10/2019 21:46

red rook - like most of Africa it boils down to tribal feuds that will never go away. The farmers will re-locate if the compensation package is to their liking but that trigger needs to be squeezed without which they will be staying put.

[red rook] 27/10/2019 21:28

I hadn't been keeping up with the latest news flow from Ethiopia. It seems that ethnic violence and unrest is ever present, and will continue to an ongoing issue.

The link below states that '...Violence erupted in Addis Ababa, the capital, and in much of Ethiopia's Oromia region on Wednesday...'



The relevant question from Kefi's point of view is whether the farmers that are to be re-located can be persuaded to leave their safe ancestral lands to 'pastures new' in these troubled times. November/December is the time that they should be moving if they are to be re-settled this year.

[aircomm] 27/10/2019 19:53

I think this will be a key week for Kefi and LTHs.

If the funds don’t show then we may test 0.50p.

If they do, then prepare for a sharp bounce - perhaps 2.0p or 2.25p in the short term.

If we go through November with nothing then I think Harry needs to change tack - we should look to get taken out through a corporate brokerage at around 3.0p. This would enable a major to make it happen and benefit from the longer term upside in Ethiopia and RSA. It might be dismal news for LTHs, but it would avoid wipe-out and enable everyone to move on.

If the funds don’t transpire in November, then we need a Plan B. The absence of a Plan B means we risk being played.

I don’t detect anything more sinister - Harry is using blunt instruments to make it work. The counter parties will appreciate the weakness of his hand. He has 5 weeks to do the deal or change how the game is played.

Views welcome. All the best everyone.

[cjm681] 27/10/2019 18:48

I emailed the company again last week. This is quite obviously a ponzi scheme. Issue shares, obtain money, pay the board of directors....and repeat. And failed deadline after deadline. 1st Nov, when ANS cash fails to arrive, I kick off my complaints to the AIM, FSA and SFO. Period.

[goatherd] 27/10/2019 16:42

I must congratulate Topicel on his ESP.

In 61,970 he said
"Most here will have agreed with the Brexit stance that we needed to keep 'no deal' on the table. It is very important."

As far as I am aware virtually no one, except Topicel, has ever mentioned Brexit on this thread. So how did he get "Most here".

Obviously he simply made it up - as he does so many of his posts - including most of those in which he gives my opinions.

For your information, Topicel, I would welcome a 'no deal'.

[scrappycat] 27/10/2019 11:47

Fair comment Topicel, but I could not think of much else to say. Of course, I regret the fact that people have died, as a result of their beliefs. I am an atheist myself, but I am forced to accept the fact that differing religions cause so many totally unnecessary deaths in this sad world.

[scrappycat] 27/10/2019 10:06

More complications in Ethiopia, with ethnic protests resulting in 60+ deaths. Will this result in yet another delay in funding?

[robjm66] 27/10/2019 09:04

Counter productive to push the Ethiopians too much in public and no Ethiopian cooperation no mining in Ethiopia. The threat would previously have no credibility as the Ethiopians would have said so where are you going to walk off to.

[topicel] 27/10/2019 08:51

Red Rook is right. Harry is always 'wooley' and 'vague'.

At what point has he stopped and said, categorically to ANS, the Gov. etc., "we are only able to remain committed to the TK project if we have a bona fide payment or else the company must walk away.

It will cause us complete dilution but it will also mean Ethiopia is not well perceived in international investment terms. Either you wish this 'chance' to proceed or you don't. Some kind of deposit must be placed with us by 31/10.

Most here will have agreed with the Brexit stance that we needed to keep 'no deal' on the table. It is very important.

Harry is weak, if not a liar. It needs sorting like the B-word...one way or the other.

Oryx was a symptom of what we have known all along about HAA, he can't finish deals.

Topicel

[whatnow1] 27/10/2019 08:50

Ethiopia is a growing,vibrant and a open for business country.It has a ever expanding population and needs all the monies that can be generated to help with it`s future expansion.With such a cash generative,lucrative prospect such as Tula Kapi I can`t see them throwing the project out of the window.
As the link shows the population growth and possible growth in the coming years which will need money to be sustained.
dyor

[topicel] 27/10/2019 08:45

"The final Tulu Kapi project models were agreed within the consortium and uploaded into the formal financing data rooms,” said Harry Anagnostaras-Adams, executive chairman.

“They show some improvements for shareholders, as compared with recent company guidance," he added.
“During the next two years Tulu Kapi is to be built as a 140,000 oz pa gold producer and, at the current gold price of $1,300/oz combined with any of the contemplated financing scenarios, KEFI shareholders' beneficial interest in the net free cash flow per annum (after debt service and tax) exceeds the company's current market capitalisation.̶1;

Oh, that's alright then. We're rich at the end of the week then, Harry said so. And that was at $1300..., oh, and a share price of 3.55p...

Btw, I was amused by the Panorama reveal the other night about Neil Woodeford's fall from grace as all his funds are suspended for his poor decision making as an independent. The journalist asked him to comment on how he felt about losing people's money by his actions and he declined, as they do, to comment.

The journalist said, tellingly, he normally only replies by video to pre-set questions...remind you of anyone. Not that I haven't be saying it since 2015 of course. The net/noose is tightening for Harry and his supporters if this latest indication of funding is missed at the end of this coming week.

Topicel

[red rook] 26/10/2019 22:20

Although the triggering of the project by the END of October can be argued, what is clear is that there will be another 'ISSUE of EQUITY ' RNS next week.... and IF the project is triggered by then, any rise will very short lived as the secret 'investor' will be dumping faster than usual.

Also, regarding the new convertable loan provided by the secret 'investor'. It was posted above that there was another ~ £1m still left to convert.

BUT, looking at the 5th August 2019 RNS - Convertible Loan Facility - it clearly states that ... 'Once any amount drawn under the New Loan Facility is repaid, the Company will be able to draw from THE REMAINING £1.6 million of the Loan Facility, if required'.

IF I understand correctly, that will be the current £1.5m + £1.6m = £3.1m ... which was the amount remaining from the previous loan facility that was in place. So the secret investor could be around for a long while yet!

[red rook] 26/10/2019 22:18

There has been a lot of discussion as to the 'triggering' of the project. Harry is sure pushing it to the wire !

In the RNS dated 23rd September it states that ... 'all parties RESOLVED TO PROCEED WITH triggering the development of the Project IN October 2019. In the Q/A posted of the Kefi website, on 01 October 2019, Harry states '...EXPECTED by the END of October..'

So already between the 23rd September RNS and the Q/A response a few days later there is a discrepency!

Also, terms like ... 'resolved to proceed with...' AND ... 'expected' are so wooley and vague. They are not inspiring, especially when issued by Harry. Why not clearly state ... WILL BE TRIGGERED.

Further, what exactly does Harry mean by 'TRIGGERED'. The ONLY triggering that the market will accept is those canny Ethiopian 'investors' opening their wallets and handing over their 'Birr-equivalent' cash!

[unionhall] 26/10/2019 21:07

We are absolutely not.


But Goatherd asked a simple question (repeatedly) - show him where the company may have been economical with the truth.

So I answered his question as above.

It may be a pointer to other issues or may just be a part of the unlucky sequence of events which have followed him through Turkey, Morrocco, Saudi Arabia and Ethiopia and none of which he seems to have anticipated (despite the fact that mining companies in these areas have been meeting issues for the last fifty years.)