Kefi Gold And Copper Share Discussion Threads

[estseon] 30/9/2019 08:50

Kefi has consistently compared the trend that Hawiah sits in to the trend that the Bisha mine (Eritrea) sits in (see slide 19 of the presentation released on 27 August)

From the Nevsun Resources 2011 accounts re Bisha mine: "The Bisha Mine is a high-grade gold, copper and zinc deposit that has a strong economic return over a thirteen year mine life. The top layer of the deposit is high-grade gold oxide material lying at surface that allows an early payback of capital. Production is anticipated to yield 1.14M oz gold, 821M lb copper, 1.4B lb zinc and 11.7M oz silver. Gold will be produced at an operating cost of less than half of industry average. Copper operating costs are expected to range from $0.54-$0.67/lb and zinc operating costs are expected at approximately $0.50/lb. The Mine has the full support of the Eritrean Government, whose senior representatives assist Nevsun in expediting the Bisha Mine. The projected production schedule and cash flows can be found in the Company’s annual 2010 MD&A."

From a 2014 Nevsun technical report:

"Deep weathering has affected the Bisha Main Zone lenses by removing most of the sulphide and producing high-grade supergene blankets enriched in gold and copper. The depth of oxidation is approximately 30 m to 35 m, with supergene sulphides developed to approximately 65 m in depth."

Mineral resource estimate (indicated):

Oxide phase: gold: 410k tonnes @ 6.8g/t
Supergene phase: copper: 7.46m tonnes @ 3.68%
Unweathered phase: 21m tonnes Cu 1.05%, Zn 5.87%, Au 0.7g/t


Hawiah should reveal a similar structure: the geology is the same age: the Red Sea is a "recent" phenomenon.

The Oxide surface layer and the underlying supergene layer containing copper that has leached out of the oxide layer can be harvested using a shallow open pit mine, which is good for cash flow.

There are other deposits close by Bisha. The purpose of this note is to highlight the structure of the deposit that has arisen as a result of the weathering.

[jaylett] 30/9/2019 08:30

Where is the money?! Where is the community report?

Hawiah could be farting solid gold nuggets out of the ground; it will make zero difference until this company delivers on its self-proclaimed flagship project. In their own words (KEFI Q&A) the company said as long as the latest delay for these additional reports was resolved by the end of September, the overall project timing would not be impacted. Well the end of September is here and the situation is very much unresolved, so why haven't shareholders been immediately updated as such?! This is as material and serious as it gets; just look at the share price and what this never-ending disaster has done to shareholder value!

The contempt shown by management for those who own stakes in this company beggers belief. I'm absolutely livid.

[cjm681] 30/9/2019 05:50

@digger2779 - I do realise it may very well lead to nothing, but the way this shoddy management is destroying this shoddy company needs to be flagged to somebody. People are investing (sometimes large sums of money) yet are not being told the truth. More lies, more spin, etc.

[cl2201] 30/9/2019 03:46

Funny how you spent the time looking through posts from 5 years ago but yet didn't think it would be worthwhile spending a minute or two to confirm the details.

Minmet never owned Tulu Kapi - the poster must have meant Minerva Resources. Minerva Resources was purchased by Dwyka Resources Ltd who then changed their name to Nyota Minerals.

[the charmer] 29/9/2019 22:02

We are doomed....or is it rigged.

[digger2779] 29/9/2019 21:57

cjm681 - good luck with that. They will all close ranks.
See you haven't been marked down yet. I'm going for a record by the looks of it.
Incidentally I was curious to see what the Pumpkin thread on Kefi was all about. Hope the penultimate post(only 8 posts in total)isn't a prophesy. Wonder if Pumpkin Head sold his 3 million shares that he bought in 2011 or is hanging on like the rest of us?

[the charmer] 29/9/2019 21:35

Looks like we are being set up for a fall?

[andysand] 29/9/2019 14:35

More likely the other way around. Pump first...

[digger2779] 29/9/2019 11:45

Will tomorrow go down in Kefi history as the "Day of the trigger"?
Am expecting an RNS to inform us of the latest round of benefactor dilution 1st thing. Once the share price has been rogered to death in early trading with all hope abandoned we will get "the nearly big one RNS" explaining another bit of Sphinx's riddle needs deciphering which could take a month or two.

[divmad] 29/9/2019 11:37

How about, the trend is your friend until they kill you in the end?

[keelhauled] 26/9/2019 14:43

The trend is your friend till the bend in the end.

[robjm66] 26/9/2019 14:31

Thanks Estseon not great at timing either maybe shorters will fade away next month.

[cl2201] 26/9/2019 14:21

'As to whether there are shorters betting against the company: there might be nutters so doing but the downside risk to them in so doing must be considerably greater than any potential upside that they might see.'

This is what confuses me, especially where we are now. Those shorting must have exceptionally large cojones and/or very deep pockets so they could cover their positions if and when there is a game changer of an RNS. Perhaps we would see a monumental short squeeze. Now that would be nice.

[estseon] 26/9/2019 13:59

rob

if the loan shark is swapping a bet for shares, he will remain undisclosed. So he could keep his cheaply-bought interest in Kefi but remain hidden. Other players might wish to take a short-term punt on Kefi without having to shell out the full purchase price. Others might wish to avoid CGT by taking a bet but those punters must be reasonably certain that a gain is there to be made within the term of their bet - timing has been a big risk for us.

As to whether there are shorters betting against the company: there might be nutters so doing but the downside risk to them in so doing must be considerably greater than any potential upside that they might see.

As I can never get timing right, I do not engage in spread betting.

[keelhauled] 26/9/2019 13:18

Rob - IMHO, a magnet is in play and I would have thought the weight is currently on the short side. And when the shock comes they will continue to fight the rise .... painful - Keel

[robjm66] 26/9/2019 12:40

Thanks Estseon as if the stockmarket was not a big enough casino already. So is the thinking that we have one person taking a big position or is Kefi a magnet for gamblers?

[estseon] 26/9/2019 12:17

Punter takes punt with Spreadex. Spreadex nets out Kefi long and short punts and hedges balance though the market by going long or short in the shares. That's how I think that it works.

If loan shark sells Kefi shares and takes a corresponding long position with Spreadex, Spreadex will hedge its position by taking a long position in shares (buy the loan shark's sales) and loan shark can hide his indirect interest (I think) and avoid CGT (it is a bet). I'm not saying that loan shark is doing that but that type of thing can be done, I think.

[robjm66] 26/9/2019 12:03

hxxps://www.kefi-minerals.com/investors/capital-structure Spreadex still has a biggish holding someone taken a biggish punt on dramatic news? Do not spread bet how does it work with them?

hxxps://www.kefi-minerals.com/files/holdings/kefi-formtr1-spreadex-18june19.pdf

[mronions] 26/9/2019 11:44

does ATYM still hold 4 % of KEFI ? I appreciate it may be 4% of nothing, but one day ...

[goatherd] 25/9/2019 16:41

Thanks Estseon

[estseon] 25/9/2019 16:07

goatherd,

the gold grade in the gossan is about 2-3g/tonne according to the trenching results reported in the last presentation (slide 20). There is no estimate of total gold resource in the gossan. If it is 2km long and 20m wide (average)and 10m deep (?), that might be about 1m tonnes of ore. If at an average grade of 2.5g/t, that would be about 80k ozs. But the company reported on that slide more than 12km of gossans at surface in its licence area and, though they have given a range of visible widths, they haven't given any guidance on depth.

[digger2779] 25/9/2019 16:06

so if you have a few million shares to get rid of do you pay a dealing fee each time an AT goes through or do you agree a fee up front and leave it to your broker to rape the market as he/she sees fit?
Asking for a benefactor.

[whatnow1] 25/9/2019 16:04

Bought some more today and now my average is 1.95p (£8k down). LOL