Kefi Gold And Copper Share Discussion Threads

[daftbat] 23/9/2019 20:45

Digger, the last three 'Issue of equity' RNS's is not kefi drawing-down more money, it's kefi repaying in cheap shares what they've already drawn down. I know the company's a bit of a shambles but I don't think they'd be drawing-down money one day then a few days later a bit more then a few days later a bit more again. They can draw down lumps of £250k a time as it says in the 5th Aug RNS

[chopper harris1] 23/9/2019 20:37

goatherd,

Almost, based on their continuous need for cash just to keep the show on the road as one missed timescale merges into another.

But I don't have a hotline to the company so no, I can't totally guarantee it.

[digger2779] 23/9/2019 20:32

dafbat - the way the RNS's are worded certainly gives the impression that it is the tail wagging the dog and not Kefi requesting the drawdowns. The only inkling we get as to when it's happening is the forward selling of shares before another slam dunk announcement.
Only a few more days before the "big" announcement that the money has been released from captivity or not.
Looking at the interim results I see the admin expenses are alive and well but what has a it all been spent on for a company going backwards in terms of shareholder value. A fair bit of it has been spent on these constant no news RNS's which Harry is fond of issuing under the guise of him liking to keep us informed.
I just hope he pulls it off by the end of this month.

[daftbat] 23/9/2019 19:52

AIMRaider, of course the facility will be used. Even if we get the ANS cash tomorrow we'll still be using the facility. Cybaajak says so so it must be true. He clearly knows what he's talking about.Look at his post 61212 a few days ago where he states: 'Surely if Kefi needs the funds it approaches the loan provider. Not the loan provider telling Harry to accept the money as that's what it has done'. As I said, he clearly knows what he's talking about. Not.Yes I made the mistake the other day of taking him off filter, that didn't last long.

[goatherd] 23/9/2019 19:21

So you guarantee that chopper harris then?

[chopper harris1] 23/9/2019 19:13

Oh, it will be used alright. Sure as night follows day or October follows September.

[aim0raider] 23/9/2019 18:48

It's a facility. Doesn't say it will be used.

[goatherd] 23/9/2019 18:39

andysand,

Yes, perhaps you are right to get angry with dishonesty and spin. But I like a peaceful life, so I don't!

But the thing you were getting angry about was simply semantics. It is certainly ok to be pedantic - but if it makes you angry (as you said it did) then you are surely digging yourself an early grave.

[cjm681] 23/9/2019 17:49

@andysand - could not agree more. People are making investment decisions on these RNS statements which are reliably missed. It does make you wonder if it is deliberate. I will complain to the AIM if this particular deadline is missed. I think it will be.

[andysand] 23/9/2019 17:19

No. Dishonesty and spin always make me angry. Especially when it costs people money. Don't you?

[divmad] 23/9/2019 16:17

UNSTOPPABLE when though?

[whatnow1] 23/9/2019 14:02

Think I`ll do a little research..

[keelhauled] 23/9/2019 13:50

Africa - look, there's no point in getting distraught or frustrated. In Africa things happen when they happen and not before. If success is to be achieved patience is required. Business in Africa requires patience, receiving funds requires patience. Forget about statements of when funds will be sent. It doesn't work like that. When the money arrives your bank will notify the account holder, that is how it works. Next question..... Keelhauled

[whatnow1] 23/9/2019 13:46

HAA used the word UNSTOPPABLE in his TW interview.That word has a very definitive meaning.If the monies etc did not arrive(I think they will)where would HAA be standing legally since PI`s must be buying when hearing such a confirmation?

[cybaajak] 23/9/2019 13:03

The financial reveal in the RNS is what worries me. Kefi has already been funded to the tune of £625k and in August this year the loan agreement was increased from £1.5m to £2.25m. Going by that figure the 60 million odd shares swamping the market in 3 tranches so far are a quarter of what is forecast is ahead BEFORE Xmas. Even IF ANS funding arrives between now and end of October, and the share price reacts favourable as everyone is expecting, when 180 million shares get pushed onto the market in tranches of 20 odd million the share price won;t be sustained at any reasonable level.

March 2017 and Lanstead set the frame for continued dilution effects and HAA and Kefi BoD all think/agree this is the best method of financing.

[goatherd] 23/9/2019 12:47

Actually I think one needs to consider how anything translates into Amharic. Now my Amharic is not good (and that is an understatement!) so I can't.

But unless you have considered that then criticism is pointless.

[robjm66] 23/9/2019 12:39

hxxps://www.dictionary.com/e/slang/triggered/

[goatherd] 23/9/2019 12:18

Don't you think you get angry rather too easily Andysand?

[andysand] 23/9/2019 11:50

What always makes me angry is this:all parties resolved to proceed with triggering the development of the Project in October 2019. Because why doesn't it read: all parties resolved to proceed with the development of the Project in October 2019. What is "triggering", other than slippery language.

[chopper harris1] 23/9/2019 10:58

Apart from the unexpected but welcome news on drilling starting at Hawiah (although goodness knows where the funds for future progress there are going to come from), the rest of that RNS was just another load of old KEFI flannel.

With seven days left in September we appear to be no closer to receiving that first, highly elusive tranche of significant funding than we were this time last month, or the month before, or the month before that.

I fully expect to be posting something similar as Halloween approaches. Still, at least Harry continues to receive his very generous salary, so we needn't worry ourselves on that score. Another dollop of equity issue, this week or next, will ensure he'll continue to be paid. Thank God!

[robjm66] 23/9/2019 09:59

Post Period Highlights

· During September 2019, following meetings in Perth and in Addis Ababa with the Company's partners in Tulu Kapi Gold Mines Share Company ("TKGM"), with the senior regulatory bodies and with the principal project contractors, all parties resolved to proceed with triggering the development of the Project in October 2019.

So all parties still aiming for triggering the development in October.

The key steps..

o Execution and closing of updated shareholder agreements and share subscription documents, which are in hand..
o Satisfactory independent assessments of security, which has been received, and of the readiness of the Government administration and of the community, which is in hand.

Nothing here really that we did not know though could do with more details on Hawaih where drilling starts this week hopefully we will get that on quarterly webinar at 2pm London time on 30 October 2019 which will be accessed via: www.brrmedia.co.uk

hxxps://www.kefi-minerals.com/files/financial/kefi-interim-results-20190922.pdf

[digger2779] 23/9/2019 09:41

So is the money coming at end of this month as widely expected or is it another "Harryism"? Either way I reckon we are in for another beneficial dilution before the month is up. Hope not but this is Kefi.

[whatnow1] 23/9/2019 07:34

The Company will host its live quarterly webinar at 2pm London time on 30 October 2019 which will be accessed via: www.brrmedia.co.uk

[divmad] 23/9/2019 07:20

And sowas this nugget:

" The key steps for starting Project development in October 2019 are as follows:

o Execution and closing of updated shareholder agreements and share subscription documents, which are in hand and include normal undertakings by the three shareholders of TKGM, as well as by TKGM itself as regards normal operational undertakings and insurances;"

More technical work to be done, as well as getting the AMS funding, of which no further mention as to exact timing.

[stockriser] 23/9/2019 07:17

Well that was well concealed in the report- "drilling is expected to commence this week at the Hawiah Exploration Licence"