Kefi Gold And Copper Share Discussion Threads

[chopper harris1] 29/11/2019 07:21

I doubled my (modest) holding last week at 1.61 in the firm belief that KEFI has finally turned a corner and still think (and hope) that to be true.

But that was obviously before Monday's cheeky little update which included previously unspoken about further administrative hurdles to receiving the ANS funds.

A bit foolish to totally ignore and filter the likes of red rook (IMHO) as they raise some valid points. The issue which really concerns me right now, if the ANS funding continues to be kicked further and further down the road, is the figure of $500k a month which it's currently costing KEFI to keep going on a day to day basis.

Given the figures, the last, and supposedly final, tranche of cash received from our mysterious "benefactor" isn't going to last for much longer. What then?

[smackeraim] 28/11/2019 23:03

ah so much better. Just do it peeps.

red rook28 Nov '19 - 22:01 - 63996 of 63997 (Filtered)

0 0 0
red rook28 Nov '19 - 22:19 - 63997 of 63997 (Filtered)

[red rook] 28/11/2019 22:19

... no wonder those that attended the meeting with Harry do not want to comment :-)

[red rook] 28/11/2019 22:01

Richsmithsmith,
...I certainly do not care what you've been buying ... but since you claimed to have been at the meeting with Harry I thought you may be able to clarify things.... but obviously not!

...I have checked back to see what was posted about the meeting with Harry... and 1deedee also posted on the meeting with Harry (7 Nov '19 - 21:32 - 62570 of 63995), and I have posted the relevant sections below:

- 'ANS has told him they need 10 days from receipt of Gov docs to check everything and then release funds.'
- 'ANS will release more than the original $11.4 in the first tranche (he wouldn't say how much) ...'
- 'Said that Kefi costs $500k a month to run but after ANS money thats down to $100k a month....'

...........

... WELL, the first item above has turned out to be false!

... The second item is not exactly correct since in the Project Update RNS - 25 November 2019 it states that ...' The initial investment has been increased from US$11.4 million to US$15.2 million, being US$9.5 million upon short term closing and US$5.7 million in due course.' ... SO, not the initial $11.4m upfront BUT the $15.2m IS SPLIT into an initial $9.5 million and then in DUE COURSE $5.7 million ..... typical Harry misdirection !

... The third item is in fact greater than I posted ... Kefi costs are $500k a month !

[richsmithsmith] 28/11/2019 18:04

Not that its anyones business but I've been buying this share since 2p. All the way down to .66 and some recently back up again. All tucked away. I think it'll do very well.

[richsmithsmith] 28/11/2019 17:56

Email the company ... or phone them (numbers on the website). I've said what I've said, search back thru my posts.

[smackeraim] 28/11/2019 17:52

Ok eee aww

[red rook] 28/11/2019 17:28

1deedee, in which case he will be in a position of 'Topping Up' again at 0.6 , and by the looks of things well before '5 weeks time'.

Although, if all the self proclaimed 'Topping Ups' were true, then the Harry Fan Club would by themselves have more shares than there are shares in the comany ...:-)

[block4gooner] 28/11/2019 17:24

Don't you just love people who claim not to have any interest as a shareholder but frequent the message boards of the shares they're NOT in?:)

[1deedee] 28/11/2019 17:16

As far as I'm aware RichardSmithSmith has been averaging down well bought in at .6 and on near average I think you're find he's not a fool or one of them in 5 weeks time

[smackeraim] 28/11/2019 17:09

I have no losses buddy. However, you seem awfully concerned about what is happening here. If I were as stressed about it I would be speaking to the organ grinder on the phone, not looking for answers from message boards. But then, I have no agenda ;-)

[smackeraim] 28/11/2019 16:41

Why don't you call him. You have a mouth and a voice right? I am sure you will get your answer faster.

[red rook] 28/11/2019 16:40

smackeraim, I was not addressing you .. but I do agree that you don't have any answers ... you must be another of those poor fools suckered by the ramping crew :-)

... wasn't Richsmithsmith one of those who attended the meeting ... maybe he can clarify!

[smackeraim] 28/11/2019 16:30

Email him then. We don't have your answers buddy.

[red rook] 28/11/2019 16:27

... didn't Harry inform the Kefi investors that met him in his London Hotel recently that the Ethiapian 'investors' were going to be putting MORE money in the first tranche than previously reported ?
... also didn't they post that Kefi had a cashburn of more than $400K/month until the ANS money arrived?
... So the question is, IF they were reporting Harry correctly, why have those canny Ethiopians reneged 'again' on promises given ... AND ... is Harry lining up another round of 'death spiral' funding with his secret investor to keep the lights on until the Ethiopians part with their money!

[smackeraim] 28/11/2019 16:17

Yes but the Ethi gov. will be a large shareholder in TKGM. It's not exactly the same as KEFI raising funds to meet its general running costs.

[hashtag1] 28/11/2019 15:58

Topicel
I think harry would struggle to honour that agreement if it happened, i mean they have to do death spiral financing to raise £1.5m never mind having to find $38-$50m

With the recent infrastructure option for bank based based finance the ethiopians look firmly in control of affairs it would seem. From memory that finance wouldn't be required until about 6 months after initial project trigger.

Project Infrastructure Finance:

The Company is pleased to report that TKGM has recently been offered a bank-based project finance proposal and a term sheet by leading African banks as a competitive alternative to the long-standing bond-and-lease based debt financing proposal. The emergence of this alternative funding reflects the improved outlook for Ethiopia and of the Project in light of progress on the ground. The two proposals (bond-based and bank-based) have their own relative merits. Whilst the implementation timetables of the two are similar, the differences between the proposals are in respect of: (a) the implementation steps; (b) the quantum and profile of net cash flow after capital-servicing; and (c) the flexibility to prepay or refinance in the future once in production. The preferred route will be chosen shortly.

[scrappycat] 28/11/2019 15:35

Topicel,

No. The Ethiopians want this mine open. How, and when, is largely dictated by them, but open it will imho.

[scrappycat] 28/11/2019 15:27

red rook,

I am not a member of any body's fan club. Quite simply, I am a realist, given to lateral thinking. However, I recognise that you probably do not understand what that means, given your posting history.

[red rook] 28/11/2019 15:25

... but I forgot that you live in lala land where facts do not appear to matter :-)