Kefi Gold And Copper Share Discussion Threads

[riotinted_specs] 19/12/2019 14:42

I know digger, but by Jan 6th if the funds haven't been signed off - an ultimatum is fair

[digger2779] 19/12/2019 14:12

Rio - so if we were to kick ANS into touch how do you think EG would react? There's a lot of VIP's in ANS.

[riotinted_specs] 19/12/2019 14:02

I'm in on putting my General Meeting votes through a proxy. I had .9% of the shares Pre récent placing / dilution whatever that will end up being. My votes will go towards providing ANS a hard deadline and in the meantime we should be lining up potential investors for this paltry amount with no refund break out of jail free clause. On another note I don't want to name an exact number - and I'm quite sure the EG are not yet aware but i swore i overheard that an amount totalling roughly $142,000,000 in Ethiopian foreign investment is to be redirected elsewhere. The reason ANS dragging their feet has showcased how the best and brightest of Ethiopia are failing timelines above and beyond just Africa timescales. KEFI might be the guinea pig for mining. It works both ways, this undertaking makes Ethiopia a foreign investment guinea pig across all sectors. And they are calamtous.

[oilisgold] 19/12/2019 13:48

Just remember chaps, panic selling now is a big regret. I had 1p as low pencilled it, so should see double digit rises as we get closer. ANS will provide the funds and they are no Mugs. Just stay calm . If you been here since 2013, what are 2 more weeks.

[oilisgold] 19/12/2019 13:43

Ya, still in here. It will come good, although we been shafted but its for the greater good.

[msc74idc] 19/12/2019 13:41

Does anyone have a handle on the difference in the fully-diluted position that the placing RNS has caused now that the convertible facility has disappeared?

[shafaq] 19/12/2019 13:39

Nice to see you in here oilisgold.Suspect you are right, look at bids today from few days ago.

[matthew stone] 19/12/2019 13:31

I'd rather have capitulation like this - plenty of buys going through, and the higher volume means we will churn through the placing shares quicker. Oilisgold is correct - always dips lower first in these situations.

KEFI has already demonstrated on a few occasions recently that if/when we do get the news we are waiting for (I know, I know...) the volume will be well into 9 figures - more than enough to swamp any selling iro placing shares, etc..

[oilisgold] 19/12/2019 13:28

You need to remember, its free money for these chaps due to Warrants. So they dont really care what place the placing shares are forward sold. Its how AIM works. Now expect a RNS to generate volume to get rid of most shares.

[oilisgold] 19/12/2019 13:20

Seen it day in day out, many times over past 5 years in AIM shares

[oilisgold] 19/12/2019 13:20

Mam, placing shares being sold, so you always get a drop below placing shares. Then you get the rise in double digits.

[outlawinvestor] 19/12/2019 13:12

£11m m/cap?? There are exploration plays with no JORC reserves and nowhere close to production priced higher than that!

It's one of two things; either something devious/fraudulent is underfoot and the company is actually worthless, or the market is ridiculously undervaluing near term prospects. I know which way I'm leaning.

[matthew stone] 19/12/2019 13:11

The 1.09s are all buys.

[mam fach] 19/12/2019 13:09

Look @ those sells.
Not everyone agrees with us.

[oilisgold] 19/12/2019 13:01

Time to average down or buy soon. 1p is target. Easy 50% trsde for those buying now.

[robjm66] 19/12/2019 12:58

Probably Kefi expect a breakthrough before Jan or they would not be having a meeting in Australia then.. "Shareholder Agreements Distributed to Ethiopian Partners for Closing in December 2019".

Probably a small gap in time for people to catch up with relatives in Australia between those dates but consideration should have been made over how it looks even though whether it is in the UK Australia of Timbuktu everything is likely to be voted through.

[outlawinvestor] 19/12/2019 12:57

@sicilian_kan - well, the market quite clearly does not share your optimism

I disagree. There is a buyer behind each AT sell. I am one of them and sorry to say this but I am monitoring and keen to buy more at lower prices.

[andysand] 19/12/2019 12:54

The reason the price is 'falling' is not a mystery at all. There has just been a 30% dilution. So all other things being equal, the share had to fall to maintain the same valuation (which you may or may not agree with). So it's not so much falling as adjusting. Feels the same though! I didn't point this out sooner as I didn't want to be accused of negativity. But it really was inevitable ( unless great news was received).

[thedickster] 19/12/2019 12:53

Surprised to see that Arry didn't caveat the venue with a "bush fire clause". What a load of guff.

[sicilian_kan] 19/12/2019 12:52

The share price is about momentum and sentiment. It has nothing to do with fundamentals. You and I both know that AIM punters sell on both good news and bad, if that means any form of waiting, and that they are only ever interested in holding for short periods of time.

When as expected the news arrives of subscription funds coming in, in the coming month, the share price will again go over 2p without any difficulty as the punters pile in again.

Those who are wise will be topping up now, before the day traders pile in again.

The best time to buy before was at 0.7p when I did last time. According to you, the market thought it a bad time to buy, when in fact, it was the best time to buy, at the bottom, when optimism was at its lowest. There is again today, another unjustified price discrepancy, between true value and temporary market sentiment. In my view, this is again a good time to buy.

P.S. Whether funds arrive in Dec or Jan it matters not, but it clearly is coming in very soon.

As ever DYOR...

[cjm681] 19/12/2019 12:46

@sicilian_kan - well, the market quite clearly does not share your optimism - have you seen the share price today? You are, of course, assuming that funds will arrive by end Dec and there will be no more dilution. History says this could be much MUCH different! The problem here is.....people just don't trust the awful management of this company - they are way, WAY overpaid and so far have delivered NOTHING. This is reflected in the share price Let's hope the rabbit gets pulled from the hat.

[sicilian_kan] 19/12/2019 12:39

The usual rag bag of legacy moaners on here.

New holders have done quite well. I bought at 0.7p and sold at 1.6p. Back in now at 1.16p and it will be onwards and upwards. Not promising in a day, but this will not be going below 1p.

Look at the positives:

1. All debt cleared both convertible facilities and monies owed to contractors and third parties.

2. £1.8m additional funds in the bank. Kefi have not been able to raise such sums for a long time and this shows real confidence from HNWI's in Kefi.

3. The warrant situation is vastly in current shareholder's favour. Either the share price is over 2p within 4 months, in which case happy days, or the warrants expire. This is a very short timescale and again shows confidence by the market in Kefi's prospects. Regardless, they will not be hanging over the company for long. Smaller holders moaning on here should look at the bigger picture.

4. Shareholder and subscription agreements were sent to the Ethiopian Government and ANS on 9 December 2019 to allow their subscriptions for equity into TKGM. This is a massive, massive step forwards and it proves that the project finances with be provided by ANS and the EG very, very soon. The funds ($9.5m) should arrive shortly after the agreements are returned, which should be this month.

5. Some of these subscription proceeds have already been deployed by the Ethiopian Government in order to construct a new road, again showing commitment to the project, which has Presidential approval.

6. Phase one of the community resettlement, debt implementation trigger and the final procurement and contractual arrangements with the principal Project contractors is expected in just one month, in January 2020.

7. Kefi has now been granted additional licence areas totalling 1,200km2, getting the first pick of land following the commencement of Tulu Kapi. Drilling will be funded in 2020 by Project equity subscriptions, which is great.

8. Tulu Kapi will be part funded by a massive bank loan from two local banks rather than a bond. This again is a vast improvement on before and demonstrates the commitment Ethiopia to the mine.

Finally, let's conclude with some simple maths. Current share price is just 1.14p. At a gold price of $1,450/oz, the NPV of KEFI's interest in Tulu Kapi is $130m or £101m. Even including all the shares to be issued in January 2020, that equates to 9.6p per share! That is nearly 7x the current share price even after the dilution.

It is no wonder the placees are happy to accept warrants with a 4 month shelf life and a strike price of 2p, because that is clearly where the share price is going and...for the bashers on here...wakey wakey, there is going to be a mine here, it is worth a vast amount of money and KEFI has a massive 45% interest in it, which is vastly better than most licensing agreements with majors, where they might be left with just 20-25% AND still having to raise the funds.

Just a matter of holding and not for long either.

As ever DYOR...

[robjm66] 19/12/2019 12:29

hxxps://www.kefi-minerals.com/files/notices/circular_and_notice_of_general_meeting_on_6_january_2020.pdf

hxxps://www.kefi-minerals.com/files/notices/proxy_of_general_meeting_on_6_january_2020.pdf

Well would minded to vote for if I was in Australia even though do not like some of the provisions (the warrant price too low) as I see it as clearing of the decks ready for actions.

However anyone who does want to vote against all they need is to find one Australian shareholder to act as a proxy a proxy can act for more than one person (maybe not even a shareholder?). Must be a small minority of Australians who hold shares in kefi (who miss out all the time with things held here) so should be doable.