 Copy of my post LSE thread.
......
Simply not good enough. Big mistake $10 million in the scheme of things is peanuts that things have got to this stage suggests a neglect of the Saudi side at management level and lack of ability to focus on Saudi and Ethiopia at the same time at that level.They with the quality of the projects in Saudi should be able to borrow that money especially with full TK launch around the corner.
I would suggest that management has lost objectivity over a period of years and favoured Ethiopia over Saudi when the best future prospects were always in Saudi. Management should have been looking at JV and partnerships in Saudi to make it more manageable all along and if the management was not capable of doing that it should have stepped down and made room for some new blood that was.
I can see now why Kefi was disingenuous over not flagging up its new licence area when other companies were as it would highlight the great potential of the prospects there when the company was effectively selling the family silver.
Main strength of the company has been it Geo team making discovery after discovery in Saudi just a bit clueless to not realize that years ago and capitalize on it.
It should not be rocket science to make things work in Saudi and its just bizarre trying to get out of Saudi when everyone else is desperate to get in.
....
Well made my point but guess its probably futile as the majority will see the eighty percent of TK compared to a minority interest in Saudi and the cash injection into kefi and think happy days.
Personally as an investor not a trader I am more interested in long term potential and Saudi has the potential to accelerate projects much faster than Ethiopia if you can get projects two or three times the size up and running twice as fast its just the same or better than a higher percentage in Ethiopia.
Think the main problem is Harry fell in love with Ethiopia. |
Kicking myself for topping-up last week. Can’t see the markets looking too favourably on this latest little nugget of news.
Way I see it at present is that TK funding conclusion is further away today than it was at the start of Q4 2024 and it now looks as if the asset which was going to turn us into a billion dollar company is about to be lost for little reward, after all the time and hot air expended on it……for many years!!
Don’t agree with one of the posters on the other forum who seems to think that this news must mean that TK is now a certainty. Why? As things stand, in my view, for situation at halfway through Q4 2024, read the similar situation at halfway through Q4 2020.
But I do agree with another poster on the other forum. The CEO needs to step down. Now!
This endless debacle trundles on, except that one of the little bits of hope that kept some of us sceptics/realists going is about to disappear. |
Ah yes Jaylett, but you seem to have forgotten who we have going in to bat for us. Also Artar are magnificent stakeholders & they will be incredibly generous. Bring on bonus proposals for Harry, I say. Arrrrrrrrrrgggggggghhhhhhhh!!! |
Sounds like the partners are squeezing KEFI out. Still, if we free ourselves from some sizeable debt and realise a good sale price , it could be worse |
We are 5-10 % more in TK than we hoped and it's 5 yrs nearer than SA. We are 10% down on sa but out of $10m debt.I'll take that. |
You're smoking crack if you think they will get ~£30m for the rest. What position of strength do Kefi have, exactly? A forced seller with zero cash flow and the millstone of TK hanging around their neck. And the buyer can simply wait them out and take it through non-payment of commitments. One hiccup in Ethiopia now and the game is up.
It will go for a song. |
Happy with that? Really? Do you think the market will be happy with it? |
Cheer up everybody, you've got 6 months of 'reviewing scenarios' to look forward to, presumably followed up by another RNS of waffle. What's not to like ?! |
Tulu Kapi must be nailed on now. |
Well that’s 10m of debt off our books and about 25 to 35 m of potential sales of remaining 15% happy with that. |
So everyone who was 'only it for Saudi' has seen that go up in smoke, sacrificed on the altar of Ethiopia. No doubt it will now be claimed that Saudi was just a distraction, TK was always the main prize, etc., etc. Pull the other one.
I remember very clearly that TK was merely a side project, designed to generate cash flow in the near term (!) to pay for Kefi's financing of Hawiah. That has gone completely for a burton and in fact Saudi has slipped away for virtually nothing while TK sucks endless capital out of shareholder's pockets. What is left is a casino bet on a wild west asset with 99% dilution into the bargain.
Any CEO with an ounce of shame would walk. He has run this into the ground. |
Not really in control of events. Not a good look. |
Yep sadly most Elites. |
If you aren't volunteering to fight in a particular war, you shouldn't be advocating for it - Naval Ravikant |
In line with local capital market regulations, KEFI has invited qualified Ethiopian investors to participate in the remaining $30 million required. According to Anagnostaras-Adams, the company has received preliminary expressions of interest from local investors and will proceed in accordance with Ethiopian financial regulations. This gold-linked investment structure is tailored to offer Ethiopian investors returns either in gold or U.S. dollars, aiming to protect against currency fluctuations and inflation.
While initially targeted at qualified investors, KEFI plans to open the investment opportunity to the broader public once Ethiopia’s Securities Exchange is operational, aligning with the company’s larger objectives to support Ethiopia’s gold mining sector and its developing capital market. |
It'll be negotiation imo and that takes time. Donbas & Crimea will remain Russian... Huge mess out there, and yes tragic losses on both sides like any silly war. Those poor young kids just canon fodder brainwashed on both sides. Russia have sent in the North Koreans who are apparently more interested in their new found discovery of the internet and freedom than fighting... Couldn't write it lol |
Think it will sorted before that though probably not on the first day of Trump taking office as both sides struggling with getting enough troops and now starting to hurt Russian economy and the Ukrainians will get tough love from Trump.
Should have got sorted ages ago as the potential gains for either side have not been worth the losses. |
2026 before any breather in Ukraine imvho It won't happen overnight. 2028 could be v dangerous for the world.His presidency won't be all smooth sailing it would appear... However imvho he is the safer choice. |
Ethiopian stock exchange due to commence before end of november and Harry said something recently about the "stars aligning" for Kefi.Obvious we are now mighty close to lift off at Tulu Kapi :-)
I am adding another sizable top up today! |
Trump rally, reminds me of Obama Think Trump will end the bloodbath in Ukraine but will be easier for Musk to get to mars than rebalance the American economy. |
Lol re Peter Schiff. It will absolutely go into bear market when it has finished its run just as gold will crash when it finishes its run. "Three sections of a market" always!https://ibb.co/hR4H48J |
Peter Schiff said last night that bitcoin will go down as the biggest example of popular delusion and madness of crowds in world history. Eventually he will be right IMHO ROFLMFAO! |
Bitcoin 90k |
Lively at the end there. Been here before though. |
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