Kefi Gold And Copper Share Discussion Threads

[rich1e] 04/10/2021 09:05

It would be good if/when various differences are settled, if the same RNS contained a definite date for funding sign off

[belfastboyo] 04/10/2021 09:02

My patience is now fully worn out with HAA/BOD..if he/they deliver the TKGM funding closure before another stupid dilution/fund raise, then fair enough...as we might actually see a share price bounce to a reasonable valuation, but if not, then HAA, John L and Norman Ling all need to go...we LTIs shareholders have put up with this incompetence and constant failure for far, far, far too long...not interested in his/their promises of jam tomorrow....so time to call an EGM on another announced failure to deliver and/or if they attempt another fund raise...then the price of this should be their heads...and replacement with competent CEO/FD...who can actually deliver the goods.

[jaylett] 04/10/2021 08:58

I don't think that HAA needs any help from BB dwellers on lowering the price. He is the Usain Bolt of value destruction.

[gibrewog] 04/10/2021 08:53

I think that a number of long term holders have far more shares in this stock than ever intended since this saga has been going on soooo long that many people have averaged down on numerous occasions based on company projections which have all disappointed so far.

[theaviator] 04/10/2021 08:28

It should be Tom but some have gone heavy. I agree with you though, aim in general v v risky and yes it should be punt money but not all see it like that.

[tom barnaby] 03/10/2021 23:53

Understood Theaviator, but seriously, any prospective mining stock is surely only a very tiny proportion of any avatars portfolio. And one with prospects in Ethiopia and Saudi Arabia no less.

Regardless of the decade+ of delays, the CEO and all the other alarm bells, red flags and white hot warning signs, I simply don’t know what to ‘say’.

[theaviator] 03/10/2021 23:44

Tom, let's have a bit of genuine feeling for the folk who have put a lot in because some have and I know that for a fact. They believed Harry and took him at his word. Ok many won't do that again but still. Rob, I disagree. How many years can he get away with it??! It's disgusting. It's like battered women who keep giving the hubby one last chance. It's not right, it's not fair and not cricket. Get rid of dead wood!!

[rich1e] 03/10/2021 20:41

agreed peverill, they'd at least have to be saying something meaningful. Point well made

[peverill] 03/10/2021 20:38

What drives the price down is companies not delivering, not anonymous avatars on a free bb.

[peverill] 03/10/2021 19:41

It is rumoured he was planning on making a million here so there must be a hefty investment involved.Mind you he was planning on making a million elsewhere and look how that panned out!!!!!.

[tom barnaby] 03/10/2021 19:31

100k

Don’t be silly peverill. No one in their right mind will have thrown more than a few hundred quid at an out and out gamble such as this. This is the absolute definition of a fruit machine stock.

[peverill] 03/10/2021 18:18

Never mind G what's another 100k up the spout,you should be used to it by now,a fool and his money eh!!!.

[goatherd] 03/10/2021 17:05

Funny thing peverill, you make him sound like yourself.

[robjm66] 03/10/2021 16:46

Saudi unlocked Hawiah giving Kefi another chance suggests they want to see it go ahead, plus been some recent activity to unlock their mining sector.

Could be Hawiah got preference over JQ from the Saudi perspective as it has the potential to be a really massive project.

[tim_the_trout2] 03/10/2021 15:55

Will Hawiah ever get a mining license, Jibal Qutman hasn't?


About JQ .... "The HL approach has the advantages of speeding up the potential development timetable and lowering capital requirements to potentially as little as $3 million for KEFI’s equity contribution to initial development costs."
(HL = heap leach)

Why don't they forget TK and trigger JQ .... because they can't as they've lost their mining application !!!!!!!

So why do we believe the Saudi's will grant a ML for Hawiah?

I hate to say it but it just stinks.

TTT

[unionhall] 03/10/2021 15:49

The 1.5m is unsecured and ranks below other loans. See note 10 of the interims...

[robjm66] 03/10/2021 15:35

Digger2779

Kefi 34% interest in G&M and is the operating partner.

Saudi Industrial Development Fund provides loans for up to 75% of the capital cost of mine development at nominal interest rates;

So a quarter of 34 percent really…if TK was mothballed could switch the 59 million that would be payed out in shares two three years down the track for that project to Hawiah.

So in theory money could be found for a project up to 500 600 million dollars though the company might just start Hawiah smaller than that and expand it.

hxxps://www.kefi-minerals.com/files/announcements/kefi-hawiah-copper-gold-vms-project-update-24aug21.pdf

The primary focus of the Phase 4 drilling has been to improve the drilling resolution in strategic portions of the Hawiah ore body. This should allow for approximately 10Mt of resources to be upgraded from Inferred to Indicated classification in the upcoming MRE. This will enable mine design and an initial Ore Reserve Statement as part of the PFS.
—
Harry did mention that phase four drilling has finished so would expect results back from the lab either this month or November.

Edit the money that would have been/hopefully will be converted to shares two three years down the track probably is largely a bet on Hawiah getting of the ground rather than TK anyway hence the time scale.

[cybaajak] 03/10/2021 14:14

The funding of Haiwah will probably get sorted out of the KSA mining fund. A scheme of financing put in place recently, after the mining & exploration revamp undertaken between 2016 -19.Thing is Kefi stake WAS 40%, reduced to 34% over 2019-21 as TK took the brunt of leadership indecision & mistakes.Yes. Different entities within 1 organisation.A good point from recent BB posts though. The current £1.5m HAS to be secured ahainst Kefi assets...We won't know till next year what assets Adams is juggling with but my money is that 34% of KSA joint Company is part of the deal.. what else does Kefi have..

[cutandpolished61] 03/10/2021 14:08

Harry is on Proactive ONE2ONE virtual investor forum which is taking place on Thursday 7th October from 6:00pm onwards via our online interactive webinar conference.

[digger2779] 03/10/2021 13:30

rob - and how is he going to fund Hawiah if TK fails?

[robjm66] 03/10/2021 13:17

Not that a big a fan of harry and never have been but Kefi share price going to be a multiple of its level just on Hawiah and harry going to have been a big factor in opening up that country to mining.

With Ethiopia he could still pull it off and if he does not more down to factors outside his control than anything else but already seeing other companies taking the chance inspired by Kefi and harry.

You can argue harrys reach exceeds his grasp and his imagination his skills but the criticism he is getting is well overblown.

A lot of the people pilling on are the ones that are desperate for harry and the company to fail or will evaporate with good news or will quite happily change direction by 180 degrees and tell everyone what a genius he is is if he does get TK over the line.

[scrappycat] 03/10/2021 12:39

cybaajak.

I don't disagree with much of what you say, but I wish to bring up one important (imho) point. Harry and his family have large amounts of Kefi shares in their personal pension schemes, as previous RNSs reveal. Not much good to him and his family if it fails to produce the goods