Kefi Gold And Copper Share Discussion Threads

[cybaajak] 28/10/2019 11:36

@ Lawrence. The Lanstead deal, initialised in March 2017 and meant to last 18 months ended 3 months earlier than what is should have and there was NO clawback from HAA in Kefi's benefit. After that there were a couple of finance deals but the most recent one is with an UN-NAMED shareholder who has never released a TR1 claiming he holds above 3%. If you check back over the past 3 months (well since August the 5th) when this finance package was publicized you will find that, with this latest windfall in the benefactors favour, over 163 million shares have passed through his hands. WAAYYY more than 3% of the company certificates BUT no TR1. It standsto reason that the method in finance is whats called bucket shop. He sells the shares he owns and floods the market, depressing the share price. Pays the funds to HAA/Kefi, then Kefi work out the math AND REFUND the shares to him. As the share price is depressed, the 3 day closing average is LOWER and gets a 10% bonus added in. In effect HAA is selling Kefi down the river, diluting EVERYBODY apart from the un-named benefactor.

[marnewton] 28/10/2019 10:30

so many words...so little said...

[digger2779] 28/10/2019 10:28

Maybe all these delays are a test by the EG and ANS to see what Harry is made of and has the right attributes to lead this project? Am clutching at straws but stranger things have happened.
My email to company of 10th October remains unacknowledged btw.

[scrappycat] 28/10/2019 10:18

Frankly, I hope Harry is far to busy planning/executing the initial demands for opening the mine, in anticipation of receiving funding by the due date that the EG has confirmed. Very close now. The best thing Harry could possibly do for PIs is to get the mine up and running asap.

This is an AIM stock and, in my considerable experience of investing in AIM stocks, delays and dilutions are the norm. I am not saying that KEFI has not suffered more than most, but exactly what purpose would be served by rocking the boat at, what could prove to be, a very critical time.

[whatnow1] 28/10/2019 10:06

Best wait until Thursday before starting any prospective shareholder action. Even though HAA gets a ridiculously large pay packet ,it`s still in his interest to make sure this project is successful since he is a very large shareholder.

[laurence llewelyn binliner] 28/10/2019 10:04

30.09.2019 converted 15M shares @ 0.83p 783,763,464 total
07.10.2019 converted 14M shares @ 0.81p 798,083,184 total
18.10.2019 converted 23M shares @ 0.66p 821,815,215 total
28.10.2019 converted 24M shares @ 0.59p 845,668,009 total

Anyone worked through all the issues since 05.08.2019 to see how much is left available to be converted..?

This loan replaced the Lanstead deal, which was a peach referenced to a discounted benchmark price and we only received cash to the lower equivalent value of the shares on the draw down days.., is our new lender holding or dumping the shares they get in the same way..? each conversion is discounted 10% to the VWAP so they clearly want to get hold of as many shares as they can before the ANS funding is due, which could disrupt the share price decline..

Expect the share price to hit 0.59 on Friday issue day unless ANS deliver..

[red rook] 28/10/2019 09:57

jaylett,
'... demonstrates the utter contempt this company has for private shareholders.'

The BoDs of most, if not all, AIM companies have 'contempt' for their PIs ... only because PIs make it so easy for the BoDs to fleece them !

As I stated in a previous post, Kefi shareholders need to organize and form a shareholders' group. Until then any letter or e-mail sent by individuals will be ignored.

I recall that cjm681 offered to start the ball rolling a couple of weeks back ... BUT no other poster was willing to back him.

[peverill] 28/10/2019 09:38

Doesn't look promising for an injection of cash,anytime soon.!!

[pjj71] 28/10/2019 09:36

Amazing that the equity issuance RNSs can be relied on to set your clock...

However, it seems the ANS cash has flowed emails are just as imaginary as a pot of gold at the end of a rainbow...

Still the working capital loan shark is minting it and Harry rakes in more pay... just the bag carrying shareholders loosing (again!!!).....

[robjm66] 28/10/2019 09:34

Well could be ANS have been slow to pay up as they want to make sure their money does not disappear Topical. Joking apart think the tweet shows that it makes sense to get foreign mining companies involved as more money will make it to the government and ordinary Ethiopians.

Kefi probably put the tweet out to show ANS and by extension Kefi are building up connections and are there to stay in Ethiopia.

[red rook] 28/10/2019 09:33

Bingo ...

'...convert £135,000 of the Loan Note issued on 5 August 2019 plus associated costs of £6,750 into new KEFI ordinary shares of 0.1p each at a price 0.594 pence per share'

[riotinted_specs] 28/10/2019 09:12

Sorry I meant that the reputation of ANS President Ato Taye Dibekulu is at extreme risk - at least so much as it concerns the London City banking community

[topicel] 28/10/2019 09:09

Blimey Rob, that isn't just 'corruption' mon ami, it is abject robbery with violence...

650m dollars down to 49m dollars as visible fiscal revenue lost? We had that report the other day but the scale is, well, what more can we say but Harry probably hasn't deep enough pockets definitely seems to be the problem.

We will know in three days. I still, for some reason, feel like we will get a deposit, but with caveats - such as we already know about - that they can reclaim it if the bond fails.

Much twixt and between. Presumably Harry is back from Cyprus and in Addis to sign on the dotted line? It would be nice to know what he has been doing this last month...after all, it was all set and 'triggered' and as Goatie said, only fools would part with their money until the last minute, so Harry must have been doing something else?

1p in the lead up to Thursday.

Topicel

[whatnow1] 28/10/2019 09:02

BigBear2 on lse has written "Conference call on 30th so whatever the status is Harry will have to talk"
Kefi still tweeting away as well so their not hiding away. Got to be a good sign.

[the charmer] 28/10/2019 09:00

Don't panic Capt. Main waring.. lol.

[riotinted_specs] 28/10/2019 08:54

Not too sure where all this November discussion is coming from "all parties are aligned for triggering the project in October". This includes ANS, and from what I understand the entire reputation of ANS Chairman Ato Zafu Eyessuswerk Zafu is legitimately at risk. Is he a slow civil servant bureaucrat, a simpleton or a real business man - Judgment Day is coming

[pjj71] 28/10/2019 08:15

Given the merry dance they have taken Harry on, I think we can look forward to great performances if they appear on Strictly Come Dancing

[bluesbeater] 28/10/2019 08:11

Ato Zafu Eyessuswerk Zafu is the current Chairman of the Board. All Directors have great merit with successful business and professional background. The Board appoints the President of the Bank, who carries out the day-to-day management of the Bank. Ato Taye Dibekulu is the current president.

Ato Hailemelekot T/Giorgis. Board Chairman

He was appointed as Director at the Bank’s Annual General Meeting of November 23, 2013.

Qualification/Education History : He holds a Masters Degree in Public Administration from Harvard University and is a Fellow at Edward S. Mason Programme in Public Finance and Economics for developing countries. He has another Master of Social Science degree in Accounting and Development Finance from Birmingham University and a Postgraduate Diploma in Management Accounting from Highbury College of Technology in the UK. His Bachelor degree is in Accounting from the country’s Addis Ababa University. He has attended numerous workshops and seminars in Africa, Europe and US in economic management, finance and governance.

Work Experience : Ato Hailemelekot has brought a vast experience that he accumulated while working as a senior civil servant holding ministerial positions and advisory roles in the Ethiopian Government. As such, he has represented Ethiopia in negotiations with the World Bank/IMF, African Development Bank and the EU. He has been serving as Board Chairman and Board Member in numerous public and private enterprises. He is currently consulting in public finance and public sector management.

[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. ;-)