 The contempt displayed by Adams towards KEFI shareholders is really quite outrageous.
That another share consolidation has been subtly (or not) thrown into the equation is really quite disgraceful and very worrying. It suggests to me that this funding farce is likely to continue indefinitely to the detriment of shareholders and the benefit of all those connected with the company who are receiving remuneration for their roles.
For those who were not around when the last share consolidation took place: the share price at the time was around 0.003p and there were fewer shares in issue than now. Immediately after the 1:17 consolidation, the share price stood at just under 5p and there were (roughly) 400 million shares in issue.
Now, several years later, with the TK project still not finalised and the interest in the Saudi assets severely diluted, the shares in issue are around the 7 to 8 billion mark and the share price sits around the 0.005p level.
Another share consolidation should be completely ruled out until TK funding is unequivocally finalised and the project up and running. In my opinion, it’s chiefly management’s fault that we now have all these billions of shares in issue, mainly through their greed and mismanagement. They should live with this mess until they finally sort it out.
Consolidation through strength, not desperation. |
@donegal - this is a matter for the government and AFC. Kefi cannot reasonably be expected to make formal comments on negotiations between two independent third parties until those parties make a public disclosure on the issue. Whilst there are definitely governance issues at Kefi (like the bonus issue which arose earlier this year), I don't see this as being one of them. |
AFC still not ratified to lend in Ethiopia, the reason why has not been given to us. It's shocking governance. |
A while back the banks actually did not make a last planned visit as they thought there was no need so the statement was reasonable when it was made. So would think it is connected to the fact that the banks plan to loan more money so have to refresh everything and the time that has elapsed more than anything else. |
Uh uh Share consolidation mentioned. 17 to 1 or would he go for 170 to 1 this time round? Gives greater leeway to issue more confetti without compunction, not that it's stopped him in the past. |
this back in Septmber:
Security: all required inspections have now been completed satisfactorily and and no further inspections are required by any of the Tulu Kapi Project funding syndicate members ahead of investment approval. This follows the deployment of government agencies and private contractors. Independent monitoring will continue throughout the life of the Project. |
Harry please answer the following questions….
1. On what date will all the definite documents be signed off by all relevant funding parties?
2. On what date will the 240 mil be transferred into Kefi’s bank account? If funding will be released in smaller lump sums please supply dates for each transaction?
No more Grey areas No more implied statements that never materialise |
Surely you can agree Rob that those responses are nothing short of disgraceful |
Not the same reporter Dud or the same subject.
Edit its a fact that foreign investment is going into the mining sector in Ethiopia the credit rating has improved and it will be opening a stock exchange soon. |
Beg pardon, 20 & 21 copied in reverse order due to thumbs! |
rob, International investors, dream on. Just check the sell column!
The Report reads:-
The EHRC condemns unlawful detention of minors, extortion in Oromia.
By Sisay Sahlu. 7 Dec 2024. Ref Police and Military.
Investigations have uncovered widespread illegal recruitment and associated extortion
in cities like Adama, Bishoftu, Jimma and Shashmenene.
Children as young as 11 were forcibly detained for the purpose of mobilisation for regional military forces.
Families were pressured to pay 20-100k Birr to secure release of their children.
Banks are under the cosh.
What more does one wish for, an 11yr old guarding the mine?
0.6 call: 0.55 call, all the way from 16p?
Who's having a giraffe? |
Fyi,
Sisay Sahlu is a well respected journalist, the IGAD Media Award Winner 2023.
A former school teacher now award winning journalist.
I wonder if Harry or TW can argue with her reports, apparently the Oromia authorities
have confirmed!
Now which majors would wish to touch kefi? Get rid more likely.
cheers |
Fyi,
Sisay Sahlu is a well respected journalist, the IGAD Media Award Winner 2023.
A former school teacher now award winning journalist.
I wonder if Harry or TW can argue with her reports, apparently the Oromia authorities
have confirmed!
Now which majors would wish to touch kefi? Get rid more likely.
cheers |
rob, International investors, dream on. Just check the sell column!
The Report reads:-
The EHRC condemns unlawful detention of minors, extortion in Oromia.
By Sisay Sahlu. 7 Dec 2024. Ref Police and Military.
Investigations have uncovered widespread illegal recruitment and associated extortion
in cities like Adama, Bishoftu, Jimma and Shashmenene.
Children as young as 11 were forcibly detained for the purpose of mobilisation for regional military forces.
Families were pressured to pay 20-100k Birr to secure release of their children.
Banks are under the cosh.
What more does one wish for, an 11yr old guarding the mine?
0.6 call: 0.55 call, all the way from 16p?
Who's having a giraffe? |
The reporter paper notice they have not had anything to substantiate their main accusations maybe that's "Usual conjecture without substance."
The placing was so quick doubt many even had time to make a decision probably those that did knew that the shareprice would go down to or under the placing price but thought at least the money would go to the company.
What i would like to know is who are the international investors that are dipping their toes in. |
Usual conjecture without substance.
Even the GMCO remaining 15% will end in £nil payment.
Rob, did you take part in 0.55p placing?
More fool those that did.
They can always blame TW for advising hold at 0.6p I suppose.
I note no action apart from bluster re The Reporter report? |
Just realised that what with the GM in January to push through another billion shares, there's no way in hell that the finance will come in this year. Lets face it if it did which shareholders would vote for another billion shares at .55p.
Anyway I'll send my congratulations to Arry for somehow stringing you all along for another 12 months. The year started with such optimism with boots on the ground lol or so he told you.
Why couldn't Arry be like the other fat Aussie gold hunters you see on Quest, where they recover gold with a single tractor and one digger. |
Well was hoping the last one would not happen. Kefi should get money for Saudi prospects and exiting Saudi once that's done should not have any costs from there. So then it just Ethiopia and a listing and projects being funded at project and subsidiary level.
Post TK full launch kefi should be able to do some kind of deal like Allied gold did with Wheaton.
Probably not going to have such a high percentage of ownership of new projects in Ethiopia as TK but if no new money has to come from UK shareholders... |
LSE has always been a crank's paradise, but the comment below really takes the biscuit. I think even goaty would avoid that board for being a bit too rampy.
"I think most people would agree that (baring a major acquisition) we have seen the last ever KEFI placement!" |
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