Kefi Gold And Copper Share Discussion Threads

[digger2779] 02/7/2020 11:06

goatherd - as you know the PI's don't hold enough shares to vote against the buyout or any other resolutions it wants to pass. This has been borne out over a year ago when Harry needed to pass a resolution to defer shares thus reducing the par value to where it is now just so he could issue as much confetti as he wanted at these lowly levels. I strongly warned against it and voted against it but hey ho here we are.
Also talk of court action against ANS is fruitless. I hold shares in a scam called EEL. It was taken over by Nigerians and once they got their loot back by issuing a special dividend to recoup the cost of the "takeover" it got mothballed and now delisted over 10 years. It still has assets and why they haven't applied the coup de grace is anyone's guess. Maybe some twisted payback against colonialism who knows?
Anyhow during their ownership they took another Nigerian company to court for breach of contract and won. Guess what? Means diddly squat as not paid up even after numerous appeals upheld in EEL's favour. Just gets kicked down the road.

[goatherd] 02/7/2020 11:02

Cybaajak,
Surely that would

a. ruin any chance Ethiopia has of building a serious mining sector - nationalisation for commercial purposes is wildly unpopular with all industries.

b. at least put back their training programme (run by Kefi, remember) by several years

[cybaajak] 02/7/2020 10:52

EG nationalise TK, then bring in a different Company on contracted rates. EG aren't fazed by Arbitration as Adams already shown he's weak.. Kefi goes to the wall, where are the funds for the litigation ?

[goatherd] 02/7/2020 10:28

JL Williams,

A buyout has to be accepted by shareholders.

How can the EG government influence you or me?

[jlwilliams] 02/7/2020 10:25

I wonder too if this shambles will harm Kefi in the eyes of EG.... if we take too long to find funds... is it possible that EG would want us out, and a big miner in....They could have a nasty influence over any possible buyout

[scrappycat] 02/7/2020 09:55

mlangton1,

You may rue the day, but I do not. I have been a holder for years. Yes, it has been a tortuous road, but blue skies and and a significant profit are, IMHO, on the horizon.
Each to their own.

[mlangton1] 02/7/2020 09:42

You could be forgiven for thinking that someone at KEFI is deliberately trying to drive down the price so their mates could fill their greedy boots. That or rank incompetence. Not much of a choice eh, given that we pay some of them £30K a month. They don’t even need to process any gold, because they’ve already struck it with their generous salary.
How many shares in circulation now? Nigh on 2 billion last I heard (tho that was a week or so back so could be more now). And to think, we’ve already had a 1 for 17 consolidation. Still rueing the day I set eyes on KEFI😢.

[the charmer] 02/7/2020 09:36

There are enough games being played as it is!

[scrappycat] 02/7/2020 09:01

cyba,

It seems you know better than the EG, and the mining community as a whole. Bravo. Go for it.

[scrappycat] 02/7/2020 08:54

The gold is still in the ground, and it seems likely that the gold price will be even higher when we start to produce. I know 'a bird in hand' etc, but why not look on the bright side for a change, taxi. If that proves to be the case, the profits will be even higher per ounce mined, and the share price correspondingly higher. Why be worried/depressed about things you cannot change.

[cybaajak] 02/7/2020 08:40

SUNK COST FALLACY. Every single investor that has held shares in this fiasco since BEFORE JULY last year are currently paying for the managements bad decisions and failures in company policy.

Remember September to December last year when 420 million shares were flooded onto the market ? The direct result of ANS failure to pay up back then.

Remember AGM on the 6th January THIS YEAR when Management made a smash and grab raid on YOUR money while issueing themselves 165 million shares ? A direct result of ANS failure to pay up AFTER signing the useless contracts.

Remember MAY THIS YEAR when another 550 million shares were issued for finance and funding till October 2020 ? A direct result of ANS STILL NOT PAYING THEIR SHARE OF FUNDING which they were contractually obliged to do so.

NOW, there are highlighted funding questions requiring action BEFORE October 2020.

Its never ending. For the Chair to state on a webinar not so long ago that "Investors need to realise how funding works.." The CHAIR needs to realise its all HIS MANAGEMENT FAILURE that led us to this mess.

He's getting paid to lead this abomination and drain EVERY INVESTORS WEALTH for his own CEO failings.

Adams OUT.

Is this 'hostile enough' for some of the snowflakes on this BB ?

[taxlosstone] 02/7/2020 08:36

Gold has been on a tear for ages. Why suddenly are possible backers coming out of our ears? Why in the not too distant past have we had to go cap in hand to a right bunch of shysters?Of course, the complete Horlicks with ANS didn't only cost us time. It also cost us a large chunk of the business. :-(

[robjm66] 02/7/2020 08:20

Waste of time complaining to regulators lots of Aim companies have done a lot worse than be loose with their language and not been pulled up on it. While it’s grating that ANS have cost us so much time would be counter productive to sue them.

[sussexlibran] 02/7/2020 07:23

@jaylett - the points you and @goatherd make about wasting money in legal action are very valid. But investors were led up the garden path which irritates me more than it does you (and that's saying something!). A complaint to the regulator may make Kefi a little more careful in future regarding the accuracy of details published in RNS articles. You're right - it certainly wasn't unconditional nor imminent.

[sweetwaters] 02/7/2020 07:22

Which April Rich1e?

[rich1e] 02/7/2020 07:20

Chart’s looking good since April (and back to January if you ignore the global pullback). The longest continued strength in the share price since 2016. Long may it continue.

[jaylett] 02/7/2020 07:13

I certainly don't want my capital tied up in a legal dispute in some tin-pot African justice system where we have zero chance of success, but the word "unconditional" is still irritating me and will do for some time.

Mainly because it wasn't true and never should have been chucked around as liberally as it was. There was clearly real risk of non-payment, no proof of funds / DD, a fixed-time limit, no penalty clauses, and other dependencies (ANS first needed to sell their own vehicle in the secondary market). All of those things are conditions and should have been disclosed from day one, unless your CEO has a fleeting relationship with the truth of course.

[shortarm] 02/7/2020 07:09

You go get em tiger.....:-D

[sussexlibran] 02/7/2020 06:49

@goatherd - ANS should, absolutely, be sued for breach of contract. Why? Because it is a strong deterrent for yet another tin-pot outfit to do the same and cause even more delays and, very probably, the collapse of the company. This "in bed with" relationship between Kefi and their ANS friends is one reason I am complaining to the AIM regulator - papers signed, checks done, due processes completed, RNS issued, funds imminent, blah blah.....then....NOTHING. They absolutely SHOULD pay consequences, and so should Harry.

[czar] 02/7/2020 06:04

I reckon KEFI will be bought at a multiple of this price, it is trading at a tenth of its value without the even bigger Saudi resource.