Kefi Gold And Copper Share Discussion Threads

[laurence llewelyn binliner] 07/3/2020 09:46

I would like to know how much cash we have left, how much of any credit lines are left available to the company, and how long we can keep the wheels turning until the ANS funds are received..?

My guess is we are clocking up empty about now, the ANS funds were expected after the meeting 14.02.2020, but the goal posts got moved back 6 months with the elections and we can expect a capital raise very soon to keep the lights on for another 3 months until the next 1 to take us to -full close- September/October..?

Would ANS really pay out their USD9.5M unconditionally before they know that the full financing package is agreed/completed for the project to move forward on..?, I suspect not..

[robjm66] 07/3/2020 09:37

Thanks Matthew obvious that people especially on the LSE kefi board getting confused about the final closing and the different process of money coming in tranches from ANS.

Had a deluge of detail in the webinar so much so that half way through some of the answers I was forgetting what the original question was. Being a masochist actually listened to it a second time but some people were actually switching off after 20 minutes half an hour as it was such a mess.

Hopefully the whole thing can be written up as well and put on the kefi site to make it more accessible and less painful.

[neilng] 07/3/2020 09:34

Space bobShareholder or just a troll?Filtered.

[texaschaser] 07/3/2020 09:19

Lifestyle company due another placing, but not able to raise in this market. What next?

[matthew stone] 07/3/2020 08:36

From website this morning...

Q: From the webinar that has just finished, it is easy to interpret that ANS will not provide any tranche of funding until September.

A: That is not the message. The closing could not have already occurred but will occur shortly. The US$9.5M (equivalent in Ethiopian Birr) is to be received from ANS during the period before full close.

[space_bob] 06/3/2020 23:55

There's only one person who does well out of Kefi. This will by 0.50 by the end of summer. $9.5 million in UK money is probably like $95 million in Ethiopia - to move some farmers. And then jump into bed with a worthless company with no history?
I think Saudi has more potential, but notice the partner there has closed their website and says nothing. Harry claims first mover advantage, ignoring Maaden already mining all around Hawiah. Best case scenario either of these come through - then $0.5 billion of capital needed to develop. Then no doubt massively hedged production for many years.
More likely, all that will actually happen is constant surveys to keep interest and the RNS's flowing and to create paper value. Anything to keep the wheels on the bus and the monthly salary cheques.
Quite impressive keeping this up for 14 years.

[divmad] 06/3/2020 22:43

Looks like the Emperor has no clothes. But he still draws a decent salary. Some things never change in AIM.

[outlawinvestor] 06/3/2020 20:03

Harry needs to talk the Ethiopia Govt. into a similar loan facility to Saudi.

That would just be another process which takes an unknown amount of time to complete!

[molatovkid] 06/3/2020 19:28

Harry needs to talk the Ethiopia Govt. into a similar loan facility to Saudi.

[tyler durden1] 06/3/2020 19:14

what incentive is there to get their act together when they are paid in shares. Each delay is more salary, more shares and what activity is there to earn the salaries when the activities are delayed?

[molatovkid] 06/3/2020 19:05

The other point worth remembering is that the Saudi finance looks like it will be in-house loan facilities....no need to issue shares there hopefully. Thank god!

That leaves KEFI to get their act together and finance Ethiopia.

[tyler durden1] 06/3/2020 19:03

Yes, he could have spent the time on his farm, his Cyprus home etc. etc., but how much nicer to draw a salary? Did he not take shares in lieu of salary, or have I got this wrong, so we have the situation of a lack of progress and delays hitting the share price and in converting salary to shares at a low share price where is the motivation to improve the share price when you get so many more shares converting salary?

[mab] 06/3/2020 18:49

Molatovkid
Wisest words said all day. Harry still confident tulu kapi going ahead 100% just a 3 month odd delay to major works because of elections. Still a 10 to 1 risk reward investment here going by size of tulu n hawaih but as u mused more patience required. Still big country and lesser project risks but you take ur chances eh.

[matthew stone] 06/3/2020 18:47

Agree with this - I have no doubt we will end up with more shares in issue than we currently have before any of this comes to fruition. However, I can still see this being worth upwards of £200m in a few years' time. Even with 2b shares in issue you are talking 10p....I have held my nerve and bought a few more late on today at around 0.85p..

Webinar WAS a car-crash, though, has to be said....

[robjm66] 06/3/2020 18:42

Well harry said any really sensitive news would be RNSed and the webinar was to fill in the blanks but so much detail in the webinar on what the hold ups and other things the webinar became price sensitive itself.

Sometimes a matter of interpretation what is price sensitive Is it harry saying there it is possible that Hawieh could be worth billions if dollars price sensitive that Jibal Qutman might pop out of the deep freeze and give them a tough decision which project to go forward first price sensitive?

On the hand was the details on the bureaucracy price sensitive when the company has already pushed the date back to this month (sometime). Saying that think harry has often given a misleading impression especially the last few months on the timeline even with the Ethiopians doing things for the first time but been thrown some curve balls as well like the new election date.

[molatovkid] 06/3/2020 18:37

The good thing in all of this is the market cap.

It is small enough that ANY mine of ANY decent size will be worth many, many times where we are today. Even with future significant fund raising.

We just have to hope that Kefi have maneuvered themselves into 2 box seats and that 2 determined state governments push these projects through to completion.

We are gonna need patience though.

[tyler durden1] 06/3/2020 18:30

When explaining that Kefi has no cashflow, and with projects doing little. There is one negative cashflow that should be addressed as what on earth are they doing for their salaries?

I wonder if quote attributed to Mark Twain's is apt for all gold mine ventures: "A Gold Mine Is a Hole in the Ground with a Liar at the Top"

[molatovkid] 06/3/2020 18:13

2 mines still in play.

[tyler durden1] 06/3/2020 18:10

Naughty Naughty Naughty, and would seem to have broken LSE and AIM rules on disclosure yet a lot of the webinar was about the obligation to report via RNS? Some of the news on the Kefi minerals website should have been under disclosure rules as its a material change/delay that was definitely price sensitive as the share price shows.

Supposed to RNS this, to enable all shareholders to be informed in an orderly manner.

So those who watched the broadcast may have sold, whilst others were unaware...completely the opposite of what disclosure should be

[glenalmond] 06/3/2020 17:52

Aye, peverill. Our pants down with that Oligoldrampertwit's strap-on!

[riotinted_specs] 06/3/2020 17:38

Topical, don't get your knickers in a twist. The share price will recover, I'm increasingly getting the impression that you trade this stock car to much. Me, I'm investing in a mine. Nobody ever buys at the very bottom. I for one am elated with my 1.48p avg. near enough bottom for me

[robjm66] 06/3/2020 17:31

Ethiopian government already building the roads and the electricity supply think Harry said they had closed already effectively.

Think a Sheister would be a bit more smoother than saying he did not want to put people off which is lucky or the Webinar could have been even worse!

[peverill] 06/3/2020 17:27

And yet people still expecting big things from him?????.