Kefi Gold And Copper Share Discussion Threads

[lurker5] 25/11/2019 10:54

Sanderson must have a large holding by now. But no TR-1 recently. Mostly acquired at under 1p. Its 2018 accounts are late, and together with its losses at Kibo (where it also hasn't updated on its holding and made a mysterious disposal, also without a TR-1 ) could be in trouble and will need to bank profits on ita Kefi holdings. With no info, this is speculation, but failure to update on its holdings in both companies looks iffy. Especially for such a manipulative outfit (think Beaufort)

[cybaajak] 25/11/2019 10:50

Its just further proof the failure in charge couldn't shut the door on a boduly function.

[cybaajak] 25/11/2019 10:48

Everybodies opinions are effectively worthless. ANS money has, was, will be, not be, is, a figment of any promise made in business since forever. Doesnt count until delivery. A delivery promised for the past 16 months, non delivered till now stated 18 months, and as inconsequential UNTIL delivery as a fart in the wind.And STILL Adams fan boys suck at his teat of 'always tomorrow'.Pathetic.

[cutandpolished61] 25/11/2019 10:48

show me the money is what the market wants and nothing else for the time being

[robjm66] 25/11/2019 10:29

Disappointing but will get news of money coming in before then.


· The Ethiopian Government investment remains at US$20 million (Ethiopian Birr-equivalent) and the Government is now at liberty to allocate its holdings between wholly-owned Government entities, as appropriate, to reinforce social licence; (basically how it’s wants to structure it share which caused the delay but that it will be now allocating shows the delay should not be to long will just feel like it).

“The initial Project equity investments are now just subject to normal disclosure and subscription protocols including Board approvals of final documents, notarisation and registration of the share subscription documents by the Ethiopian Department of Trade and Industry under Ethiopian law.” Seems to suggest the “heavy lifting” is done and now it just a red tape process.

[scrappycat] 25/11/2019 10:23

As I understand it, the company has received an offer of alternative financing, and Harry would not be doing his job properly if he did not examine the possible merits of the alternative offer - both in the interests of the Company and the shareholders.

[chopper harris1] 25/11/2019 10:12

I did try to warn against over-exuberance last week as, given past history, yet another disappointing delay was always on the cards.

What concerns me is the word "expected" when mentioning January. Which leaves the door slightly ajar for further delays beyond that. How many more times are we going to be on the receiving end of these "wordy" RNSs which offer lots of positivity but which, in effect, are just about kicking the can further along the road. With this latest one, Harry can relax between now and Christmas in the knowledge that he has a breathing space of some eight weeks plus before he has to worry about issuing a similar RNS, if necessary.

And it's not just frustration with delays. There's the very real concern now that if this drags on into January and beyond and given monthly cash burn, they are going to have to dilute further for more funds to keep the company ticking over.

[divmad] 25/11/2019 10:10

Where's oilisbuy today?

[mam fach] 25/11/2019 10:02

Lot of talk today.
Everyone's agenda seems to be to get price lower.
Will be interesting to see what closing price is.
Most posters apparently seem to have sold out.
GLA whatever your stance is,

[shortarm] 25/11/2019 09:56

Spreadbetters with no actual money kicked out...Onwards and upwards :-)

[noirua] 25/11/2019 09:43

The market cap does not seem to expect that much.

[scrappycat] 25/11/2019 09:42

Remember, the MMs make their money from the spread. They couldn't care less what the price is, but aim to generate an active 2 way market.

[the charmer] 25/11/2019 09:37

I suppose it does make sense... drive the share price lower and buy in higher.. Doh!

[robjm66] 25/11/2019 09:31

hxxps://www.edisongroup.com/edison-sparks/kefi-minerals-kefi-announces-launch-of-tulu-kapi-gold-project/

[robjm66] 25/11/2019 09:22

“The Company is pleased to report that TKGM has recently been offered a bank-based project finance proposal and a term sheet by leading African banks as a competitive alternative to the long-standing bond-and-lease based debt financing proposal. The emergence of this alternative funding reflects the improved outlook for Ethiopia and of the Project in light of progress on the ground. The two proposals (bond-based and bank-based) have their own relative merits. Whilst the implementation timetables of the two are similar, the differences between the proposals are in respect of: (a) the implementation steps; (b) the quantum and profile of net cash flow after capital-servicing; and (c) the flexibility to prepay or refinance in the future once in production.” So old deal still there just have an alternative and weighing up the pro and cons.

[scotty1] 25/11/2019 09:18

Adamad,11 posts in 1 year 9 of them no longer exist, says it all.

[adamad] 25/11/2019 09:14

more delay and dilution is coming

[robjm66] 25/11/2019 09:08

hxxps://www.kefi-minerals.com/files/presentations/kefi-corporate-presentation-25nov19.pdf

[robjm66] 25/11/2019 09:05

The equity subscription into TKGM is in the process of being carried out, comprising several steps which take some weeks to complete under local laws and procedures.

The planned total investments into TKGM are unchanged, but the details have been refined as follows:

· The Ethiopian Government investment remains at US$20 million (Ethiopian Birr-equivalent) and the Government is now at liberty to allocate its holdings between wholly-owned Government entities, as appropriate, to reinforce social licence; and

· ANS Mining's investment remains at US$38 million (Ethiopian Birr-equivalent). The initial investment has been increased from US$11.4 million to US$15.2 million, being US$9.5 million upon short term closing and US$5.7 million in due course.

Everyone happy to put the money in even an increased amount and plans announced at mining event just another delay which is par for the course for kefi. Trouble with dealing with a consortium is you have to deal with all parts of it so things take longer. Mind you what you are losing in time is being made up in the extra money going in.

[divmad] 25/11/2019 09:03

By secured, obviously I mean agreed as to which plan going forward.

[divmad] 25/11/2019 09:02

Does this mean that ANS would be wise not to hand over their first cash payment until the future long term funding arrangement is secured? That could mean months more needed before construction starts.

[scrappycat] 25/11/2019 09:01

Apologies, I stated that from memory. In that case though, nothing has changed still applies.