Kefi Gold And Copper Share Discussion Threads

[estseon] 10/6/2020 10:16

jaylett

You mean this one?



Q: I have come across a news article from the Addis Fortune News website which details ANS's involvement in the Tulu Kapi project.

The article is fairly positive but the journalist has provided the below comment, which suggests that ANS don't have the capital to hand for the project and need to sell shares within their vehicle to be able to make payment:

"To raise capital, the executives of ANS Mining are planning to start selling shares, according to Hailemelekot Teklegeorgis, a founding member of ANS Mining, which hopes to sell one billion Birr worth of shares with a par value of one million Birr starting this coming September."

Are you able to confirm whether this share sale from ANS is a secondary issue once they have injected their capital into the project or whether this is a primary issue? As mentioned within this article, they are intending to sell shares until September which would make the receipt of funds to TK be delayed if they are selling as a primary issue.

A: Not an accurate comment and a bit garbled We have been advised that ANS’ subscription is arranged. Arrangements are proceeding for the closing of the first subscription funds from ANS to TKGM of US$9.5 million (Ethiopian Birr equivalent) in accordance with standard local procedures. As 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.

Posted 05 March 2020

[robjm66] 10/6/2020 09:41

“Applications for Saudi exploration licences are currently on hold pending the finalisation of the new mining law. The new mining law is a part of the Vision 2030: National Transformation Program 2020. This initiative will overhaul all Saudi government sectors and deliver investment, transparency and a new online platform for mining licence applications and management. The new mining law is expected to be passed by Royal Decree in line with the 2020 target.”
Maybe an update from kefi in the q and a section on the website on how the mining law will work and implications for kefi would be a good idea.

[scrappycat] 10/6/2020 09:31

Maybe I am gullible, but I fid it difficult to believe that the Nobel winning Prime Minister will let his people down. He, effectively, promised the mine will open, for the benefit of all Ethiopians, and open I believe it will - ANS contribution, or not.

This promise was made post the outbreak of the Covid19 virus, so I am hopeful that the promise is still valid. Also, given the EG have frequently extolled the virtues of the mine to all and sundry, particularly in Africa, I doubt they would want to be seen as a country that makes unreliable promises.

[scars] 10/6/2020 08:02

So who will step in, I am sure there are others interested, cannot disagree with your view of H though!

[shortarm] 10/6/2020 08:02

Dem fopians outwit him innit....You is right funny dude.

[sussexlibran] 10/6/2020 07:55

@peverill - I think we all know that ANS don't have the money and cannot pay. Them Ethiopians are much cleverer than Harry and have outwit him every step of the way. I'm not too sure if he is useless or just very naive and gullible - a kind of fantasist who genuinely believes he is doing a great job while delivering nothing. One thing is for sure though - he IS managing to extract investors wealth and put it into his own pocket from a totally bust company. I suspect what will happen is, on the very last working day of June, we will get an RNS saying that ANS cannot pay. It's all a stalling exercise.

[ham1] 10/6/2020 07:32

A new Mining Law is out in KSA!


H

[peverill] 10/6/2020 07:15

This Ans money still not forthcoming!!!,Did they ever plan on releasing it??

[marnewton] 09/6/2020 17:46

As a contrarian I worry about the growing gold consensus - yet more positive articles today!

Happily, there's no consensus here, in KEFI;¬)

I've been expecting the share price to dip to rising trendline support, which happens to be approximately coincident with the rising (so support) 50 day SMA. Nearly got there today. Perhaps that was it...but I don't think so.

The 200 day SMA is flat. A golden cross may be coming, but as a buy signal it's so laggy you'll be very late to the party.

M

[scrappycat] 09/6/2020 11:24

Personally, I am indifferent to the vagueries in the share price currently. When the funding money comes in, and the EG has apparently assured us that it will, the share price will react accordingly, depending upon whether or not a JORC has been established for Kefi's SA interest. Like all holding PIs, please no more dilution though

[shortarm] 09/6/2020 10:28

Hence the smiley face! Chill dude!

[goatherd] 09/6/2020 10:21

Shortarm,

Of course that IS a very offensive thing to say; so "no offense" is an absurdity.

And 300,000 at 1p - only £3,000 is peanuts - not a "large sale".

[goatherd] 09/6/2020 10:21

Shortarm,

Of course that IS a very offensive thing to say; so "no offense" is an absurdity.

And 300,000 at 1p - only £3,000 is peanuts - not a "large sale".

[shortarm] 09/6/2020 10:16

And again, four large sells at the same time.No offence but I hope you guys lose your shirts :-)

[taxlosstone] 09/6/2020 10:09

ANS are friends, I think that we can all agree to that. ;-) When friends are in trouble, you try to help them out. Why do we not borrow from Lanstead & Sanderson & gift some money to ANS? I am sure that we would all feel better about ourselves. Yes, you are right, I am getting thoroughly fed up waiting. :-(

[shortarm] 09/6/2020 09:55

4 big sells in the same minute - you can't tell me that wasn't orchestrated!

[robjm66] 08/6/2020 15:12

“it is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on 29 May 2020. Following Admission, the total issued share capital of the Company will consist of 1,867,103,933 Ordinary Shares each with voting rights.”

Several variables concerning whether they will have to do any future placements, chance of getting some money back when final deal is done on TK and “permission for gold price hedging as and when required,”(19 of may RNS”). In KSA should be lot easier to fund any project as their partner can chip and they would be able to get funding from the Saudi's through the SIDF loan scheme.

Hoping ANS will pay up this month or if not the Ethiopian government said they will step in to provide the funding. The progress in KSA provides a bit of a safety net if there was any delay in Ethiopia as more results are expected there. hxxps://www.kefi-minerals.com/files/presentations/kefi-hawiah-presentation-27may20.pdf

Another factor is that I would think most of the placees think there will be progress or I would have expected to see more more flipping of the shares. All this imho as usual.

[wynmallen] 08/6/2020 13:14

Couple of questionsHave all shares now been issued? Is 1.8 bln current numberAny more issues in the wings waiting do we think?When do we think we will get the money to develop the mine?

[1deedee] 07/6/2020 18:17

czar .035 are you on the right forum buddy?

[czar] 07/6/2020 17:06

Too many AIM punters in the placing, they have the attention span of a gnat, that's why 90% of AIM punters never make any money. Hopefully they have all sold now for a quick .035p and we can get on and make 10p+ a share. Why brokers let these pillocks into placings is a mystery to me.

[robjm66] 07/6/2020 15:57

hxxps://internationalman.com/articles/the-cracks-in-the-financial-system-are-getting-bigger/

[rich1e] 05/6/2020 18:18

estseon, thanks for your detailed response to my question yesterday about prospective market cap.

[robjm66] 05/6/2020 17:44

RAB not the only company that took part in placing and had a position prior to it so more likely to be smaller investors that took part maybe selling part of new holding to hedge their investment.