Kefi Gold And Copper Share Discussion Threads

[richsmithsmith] 31/10/2019 13:32

Q&A from the website. Q: A question following the Q3 webinar, which was excellent: When did you realise the government had an internal administrative problem?A: We were told it was fixed 3 weeks ago then it resurrected itself last week.

[pjj71] 31/10/2019 13:21

i expect the local investors have played trick or treat on Harry... either way they have been spooked into keeping their wallet firmly closed for another day....

Still shortly harry will be paid and shortly the loan shark will make even more free money.. great for the inner circle feasting on shareholders pumpkin pie...

[robjm66] 31/10/2019 13:19

Andysand will resist the temptation to talk about Brexit much as am just as fed up with the whole issue as everyone else whatever their view.

[robjm66] 31/10/2019 13:16

Hardily be mentioning about a qualification in European studies if did not have one Red rook, brain surgery rocket science hell even a cycling proficiency badge is more noteworthy and useful.



As blaming Churchill for the EU its about convincing as the nodding dog on the commercial. Long history of people pushing for it and Churchill was more a fan of America than Europe. Any enthusiasm he had on Europe has to be seen in his worries about Russia (a iron curtain has descended..)and looking for a counter weight to them you can argue more convincingly that his concerns lead to NATO which in turn has kept the peace in Europe.

[you for coffee] 31/10/2019 12:53

Indeed , such a rude 'chap'.!

[shortarm] 31/10/2019 12:24

Or maybe just red rook free? :-)

[red rook] 31/10/2019 11:59

It's not about Brexit ... its about educating an idiot who claims to have an education in European Studies !

[andysand] 31/10/2019 11:55

Brexit free zone here please!

[red rook] 31/10/2019 11:29

robjm66
... 'actually have a qualification in European studies so could give you several history lessons at no time has the Eu needed the U.K. to exist so we are not integral its not a hard point to understand.'

I don't think you could teach anything to anybody ... your qualification in 'European studies' appears to be as bogus as you are... :-)

It was Winston Churchill who started the whole process towards the creation of a 'Euopean Union' with his speech in Zurich on Sept 1946 when he called for the creation of a 'United States of Europe'. He is often referred to as a founding member of the European Union.

It was his call for reconciliation between France and Germany, and 'the re-creation of the European family', that struck a chord for both the victors and the vanquished emerging from the devastation of two world wars. It inspired a European movement that led to the creation of the Common Market, and, ultimately, to today’s European Union.

[scotty1] 31/10/2019 10:03

LLB you are getting it all wrong,you are mistaking issue of new equity via a placing(which the share price can but not always fall to the issue price) with conversion.

[laurence llewelyn binliner] 31/10/2019 09:59

#cl2201.. I'm not expecting those shares to all get sold they are some real bargains, that said, the share price nearly always hits the issue price on the day they are admitted to trading.., but lets see what we get in the morning and what the offer is around then..

[edit] I do hope you are right #Scotty1, as watching the share price get thumped every time there is discounted a conversion is getting tiring to say the least..

[cl2201] 31/10/2019 09:44

'the most recent conversion at 0.59p which hits the market tomorrow'

It doesn't work like that. Those shares have already been forward-sold so it's not like you'll see a sudden dumping when they 'officially' hit the market.

[pjj71] 31/10/2019 09:29

have the locals opened their wallets yet???

[robjm66] 31/10/2019 09:23

Redrook actually have a qualification in European studies so could give you several history lessons at no time has the Eu needed the U.K. to exist so we are not integral its not a hard point to understand.

As for new investors they will come when the deal is done as the company is priced so low as the market is dubious about it happening. Yes I do say when not if.

Not convinced that anyone with not a good word to say about the company is seriously thinking of investing here and i do not feel the need to convince you to do so as not here to form or be part of any fan club.

[whatnow1] 31/10/2019 09:03

HAA`s interview yesterday is available to listen to again on BRR Media site and Kefi website

[laurence llewelyn binliner] 31/10/2019 09:00

#Stockriser, sadly there is not much we can do about the conversions, I did table the Q yesterday which was only in part addressed in the webinar, all we can do is plan ahead, and if at all possible take advantage of the situation we are in..

I can see 2 maybe 3 more rounds coming as the loan provider uses up the last of their agreed terms with GBP1.198/1.5M taken so far..

It is far from the end of the journey here, but we are getting closer to the end of the beginning phase.., and it has been a long wait since NYO..

[stockriser] 31/10/2019 08:46

LLB - That's if the loan provider is selling his/her ridiculously cheap shares. Would you at this point?

[laurence llewelyn binliner] 31/10/2019 08:17

The New Loan Facility is convertible into new KEFI Ordinary Shares at the election of the provider. The conversion price is calculated at the lower of 90% of the lowest volume weighted average share price of a KEFI Ordinary Share as shown on the London Stock Exchange for the three trading days immediately preceding the notice of conversion from the provider..

We have drawn GBP1.198/1.5M so far, there is time for 2 or 3 more rounds of conversion yet with the delay in the ANS funding, the most recent conversion at 0.59p which hits the market tomorrow so we could well see sub 0.5p yet, keep some powder dry for top-ups..!

[whatnow1] 31/10/2019 07:52

As sk says above "Then look at the gold price and the market cap of just £5.5m compared to the NPV low of £41m (for the 45% at $1,300/oz at start of construction this year) and the NPV high of £108 million (at the current US$1,500/oz at start of production in 2021). This is as the RNS states 6x to 17x times the current market cap. Not only do they have a good deal but the investment case gets even stronger.",,so when the internal administrative matters get sorted every man/woman and their dog will want in and the price could double,treble in minutes dyor

[sicilian_kan] 31/10/2019 00:39

One more point. I appreciate there has been a lot of dilution here and that shareholders have suffered. I note that but also park this to one side to look at the investment case today.

Most juniors who partner with a major end up with something between just a 1% Net Smelter Return, and 25% of the equity in the mine, and in the latter case that is before having to raise 25% of the capital for the mine which then massively dilutes shareholders.

Compare and contrast. As of today, shareholders in KEFI have both a controlling interest (a majority stake in a company that has a majority stake in another) and a 45% net beneficial interest in the mine, with financing agreed. That is an excellent end outcome.

For a newcomer investor, if the mine construction starts, the combination of (a) a controlling interest, (b) a 45% beneficial interest, and (c) finance agreed is a massive, massive improvement upon normal terms for a junior and is very, very attractive.

Then look at the gold price and the market cap of just £5.5m compared to the NPV low of £41m (for the 45% at $1,300/oz at start of construction this year) and the NPV high of £108 million (at the current US$1,500/oz at start of production in 2021). This is as the RNS states 6x to 17x times the current market cap. Not only do they have a good deal but the investment case gets even stronger.

The only thing holding them back is the internal administrative matters that are getting daily attention and the dilution in the interim.

Once sorted, and this appears to be the last step being looked at daily, this must surely re-rate and multi-bag.

Yes the share price can go down, yes there is a troubled history of delays, but on a risk reward ratio, surely the immediate prospects vs the potential risks are massively in favour of taking a manageable position.

As ever, DYOR and only invest what you can afford to lose, as per any stock.

[sicilian_kan] 31/10/2019 00:12

The RNS does detail the internal administrative matters - what they are - and it also states that there are daily meetings to resolve this. Shouldn't be much longer before a re-rate.

"The Company understands that meetings are taking place daily within the Ethiopian Government to resolve these internal matters which pertain to how it manages its shareholding in TKGM - a high-profile public-private partnership in a new industrial sector for the country. As previously reported by the Company, the budget for the Project investment has already been approved by the Ethiopian Parliament and the associated infrastructure work for which it pays has already commenced. TKGM has the potential to be the largest single export-generator for Ethiopia."

[red rook] 30/10/2019 23:38

the charmer, I agree ... especially on AIM.