Kefi Gold And Copper Share Discussion Threads

[laurence llewelyn binliner] 27/2/2020 13:11

30.01.2020 The subsequent transfer of the first funds from ANS Mining to TKGM is expected to occur following the Meeting - was this not misleading or at best disingenuous ..? the company could have spelt out the timetable instead of implying it was to happen straight after..?

17.02.2020 The company will issue its quarterly report next week and conduct its quarterly shareholder webinar, details of which will be published in due course - this is another miss (so far), the company has not updated and delivered the quarterly update, a Friday RNS is usually only reserved for bad news but could still happen..:o)

[adrian1001] 27/2/2020 12:56

Why does everyone keep on saying that ANS repeatedly make excuses not to pay up. There is no such evidence in any shape or form. Yes we want the money but keep in pointing fingers in one direction when there are so many facets to this is just venting in the dark. Frustrating yes, but it will come unless everything in the last few RNS's are a pack of lies. That would mean the government and everyone else, I don't think so.

[taxlosstone] 27/2/2020 12:46

Enter. Can I attempt an answer please?

The loan was initially going to be syndicated to the banks' clients. The bankers then kept it for themselves as Principals & for in-house. They then negotiated a larger overall loan for a "money back guarantee". They then "negotiated" a smaller first tranche. They then wait until we're so desperate that we'll agree to just about anything. That last sentence is just guesswork but you can see that we are absolutely powerless.

[enter] 27/2/2020 12:37

jaylett serious question: what is the endgame for ANS? Sure it's easy to keep making excuses and not paying but where's it going to get them? Are they hoping Kefi will pack up and just focus on SA? They can't develop the mine without Kefi so where does that leave them.

[neilng] 27/2/2020 12:28

Don't know ttt but it sure does smell in this cupboard after only 2 days.

[jaylett] 27/2/2020 12:25

Quarterly is due tomorrow, per the company. If it doesn't arrive then that's yet another missed deadline to add to the list.

I suspect that we will get the update, but also another fudge on ANS ("notarisation complete, now into final processing ahead of payment" etc.). They're legally tied into the project but for whatever reason can't or won't hand over actual cash. I would love to be proved wrong in the morning, but can sense another incoming disappointment from our spiv partners.

[tim_the_trout2] 27/2/2020 10:09

neilng, are you confusing a mask with colonic irrigation?

TTT

[neilng] 27/2/2020 10:00

TaxWhen you have sold out with a MASSIVE profit.Anyway back into isolation in the cupboard under the stairs.Just been on the internet and downloaded instructions for a face mask made out of a plastic watercooler bottle, two coke bottles and a grapefruit cut in half as filters.Feeling much more confident now.

[unionhall] 27/2/2020 09:31

It should in any normal business - so hopefully here as well....

[whatnow1] 27/2/2020 09:25

In the 17/02/20 rns " As previously announced, the total ANS commitment is US$38 million with the first US$9.5 million (Ethiopian Birr equivalent) being unconditional and subsequent amounts in accordance with the conditions previously outlined."
Doesn`t "UNCONDITIONAL" mean the US$9.5 million (Ethiopian Birr equivalent)monies is in the bag?

[matthew stone] 27/2/2020 09:01

Great news, but would it have killed them to put a couple of lines in the RNS re progress with the ANS monies? Have to say, this has got a placing written all over it now.

[taxlosstone] 27/2/2020 09:01

Tee-hee!! I know that I shouldn't really be smug but I'm so much smarter than the market. I first bought Nyota in Feb 2011. I then started buying Kefi in Aug 2014. The recognised resources at TK have done nothing but grow, SA potential has sounded mouth-watering & I've averaged down countless times. In all that time the market has continued to mark down Kefi's price. I hear Harry's bullish words but the incompetent market just doesn't understand it. If only they were as clever as me. Mind you, they're a lot richer than me but that's just a technical point.I wonder when they'll accept that I'm right & they're wrong. :-(

[scrappycat] 27/2/2020 08:57

Managed yet another small top up. At some point, the value of all that gold waiting to be collected will be recognised, and the terrific potential of this explorer reflected in the share price.

[skynet2000] 27/2/2020 08:54

Is this a good time to buy?

[edgein] 27/2/2020 08:48

Sweet,

Saudi Arabia wasn't panicking over their economy back then, mining wasn't important to them. Is there any wonder why there's now a focus to diversify from oil and gas? The oil crisis ($20/bbl at one point) shook them to their core. Only recently has the gates been swung open for Kefi to take advantage of it as first mover, required government approvals, couldn't do anything until then. You'll also need to consider that its not just management involved. For instance I could say the same thing about KRS who have a great management team who have brought many mines to production and eventual sale. Its taken them at least 6 years to get a mining licence in Togo and they're still waiting. Its certainly not all about management here either they're working in two countries that don't have a mining industry. Its been hard for small miners to survive on the markets since 2008, so they've done well to get this far on what money they've been able to raise. There are some investors that have unrealistic expectations of the mining sector, especially African miners, placings are part and parcel when holding small explorers, but the re-rate comes when they develop mines.

Regards,
Ed.

[edgein] 27/2/2020 08:38

Smack,

Yes its poor at the moment but there's been much worse in the past, housing/banking crisis, oil crisis, Greece collapse, Italy collapse etc etc. Markets always do that to molehills like the current one. The masses always tend to panic buy and panic sell its those that buy value that benefit in the end.

Regards,
Ed.

[sweetwaters] 27/2/2020 08:38

For many the quality of the assets has not been in doubt. Many have had confidence the gold and metals are in the ground in economic quantities.

Quality of Discovery capabilities & Quality of assets vs Quality of Management.

Should have proved up Hawiah 5 years ago and saved 5 years worth of 'management' fees. Kefi would have multiple Saudi proven resources or sold some along the way.

[scrappycat] 27/2/2020 08:37

There is very low activity in the AIM markets, judging by my watch list. Investor interest seems pretty much devoted to the main market, which is tanking.

[smackeraim] 27/2/2020 08:33

Fingers crossed Edgein. Shame the markets are on their backside just now. :(

[edgein] 27/2/2020 08:26

Now that's what I call ruthless efficiency. Look at the amount of shallow holes they've drilled since late last year. They now think they'll be ready for the maiden JORC on the Saudi asset by middle of this year. That's fast! Great grades continue from the sounds of it and its all very shallow. Will be interesting to see how some of these zones continue at depth perhaps into a much larger source. Even though they're practically setting up a new mining industry in Ethiopia it certainly now looks as if they're almost there after all this time. Perhaps this will be the year that the market starts to recognise the quality of these assets.

Regards,
Ed.

[bostanli] 27/2/2020 08:22

Must be a first but Kefi is the only blue in a sea of red

[georgethefourth] 27/2/2020 08:22

Don't have time to read through the recent news, but off the top of my head they said the resource in Ethiopia had a value of 7 times the current market cap. If the Saudi asset is similar again (plus potentially bigger as it's still open at depth) then that gives us a value of 14 the current price! Not too shabby

[jaylett] 27/2/2020 08:17

Regardless of drill results, the price simply isn't going to budge an inch without ANS coming to the party. Surely those clowns aren't going to drag us into yet another month before they cough up? This has gone beyond farcical now.

The quarterly update should be out tomorrow. I suspect it's been held back to the last moment in the hope of including confirmation of the settlement of ANS funds. Let's hope that isn't a forlorn hope, because this has gone on long enough.