Kefi Gold And Copper Share Discussion Threads

[topicel] 28/2/2020 16:41

Goatherd - You don't have to; I wouldn't expect you to.

Simple fact is you have advised this as a good buy for so long, and how it was an investment for the grandchildren to profit from, that unless you have been disingenuous and been trading/selling/shorting all along then you have, as you've previously admitted in more lucid moments, made a poor investment.

Just exactly what is your problem with the fact that you post a graph, make out that we should all learn from it, and ignore the fact it also shows your own choice to invest in Kefi ten or so years ago rather poor?

I'm only judging you by your words. Your actions might well be different, which makes you a dubious character in my eyes if so. If you simply have been an idiot, like me, then that is fine to admit.

You can't be a genuine LTH and also maintain this has been a successful play. But you can make stupid posts about graphs that prove it. Weird.

More generally, to all who may have an answer, why is gold back to what it was at the time of the greatly anticipated RNS when Harry first started on about 7-times current m/cap?

As per usual we will probably find he's managed to quote the price in today's RNS and it is out of date in hours. He's good at that...

Topicel

[goatherd] 28/2/2020 16:40

I always admired some Romney Marsh farmers who founded the "Romney Marsh Mountain Rescue team" (or perhaps only claimed they did!)

[peverill] 28/2/2020 16:39

I can see kefi being pushed out here,too much smoke and mirrors going on of late!!!!!!.

[red rook] 28/2/2020 16:35

... now that's the most intelligent thing that you, or any member of the Harry fan club, have posted so far :-)

[robjm66] 28/2/2020 16:33

Baa he haw.

[outlawinvestor] 28/2/2020 15:47

Donkeys and sheep??? What are you trying to say Rob?

:-)

[goatherd] 28/2/2020 15:25

Sorry Tops, I have no intention of discussing my investment style or methods, or, actually, anything personal, on here.

[robjm66] 28/2/2020 15:14

"and the" also being on Abiy Ahmed Ali home turf with an election coming up this year. I actually used to live on the Romney marsh in kent did not own a donkey but we are famous for our sheep knew someone that actually did have a couple of donkeys so maybe that makes me aspirational.

[topicel] 28/2/2020 14:57

So knowing that graph Goatherd, as so many of us have, why did you invest when you did?

Could it have been, per chance, that you invested on what we were told, at various stages, and not on any random graph that is as useful as a chocolate teapot when it comes to when to invest in a company?

Only someone who has not invested as you lead us to believe you have would still be spouting such nonsense a decade into their own investment cycle...

Maybe RBS holders have a similar graph they cling to based on their own value distruction in 2008? I see the Barclays Bankers were cleared. All sorted down the Carlton no doubt...jury or not.

Topicel

[outlawinvestor] 28/2/2020 14:42

the largest development project in that rural part of the country
Key word being rural i.e. if you own a donkey you are upwardly mobile. This fella took a video on a bike ride: You'll have to pardon his music. The pictures kick in after 30 secs.

Tulu Kapi is planned to be the largest single export generator for Ethiopia
Same thing could have been said of MIDROC Gold (producing c 120000 ounce p/a) before their license was revoked!

Anyway, the point is the EG will survive if things go south but hopefully it won't ever come to that.

[robjm66] 28/2/2020 14:07

"Tulu Kapi is planned to be the largest single export generator for Ethiopia and the largest development project in that rural part of the country." That's before you even start to add in the local expansion potential or the exploration areas.

[outlawinvestor] 28/2/2020 14:00

"Can't imagine the Ethiopians want to end up with egg on their face"

"the longer this drags on the more damaging it is to the Ethiopian reputation as a country to invest in"

People should be cautious about overestimating the importance of this one project to the EG, and guard against suggesting/implying that the risk is therefore low. I doubt the project is keeping any minister up late into the night. And with the Americans and Canadians recently making a beeline to Addis Ababa (to get their feet in before the Chinese clean up) this particular egg is, IMO, of trivial consequence.

[taxlosstone] 28/2/2020 13:22

andysand28 Feb '20 - 10:32 - 2203 of 2230
0 4 0
For what it’s worth, I think this is unnecessary panic. Concluding things in March....well March is but days away is it not?

Anyway, nothing much too add for now. I have my own Corona problems to mitigate...That̵7;s the real threat at the moment.

andy ... really hope that your Corona problems are just general & not specific to you.

You're right of course, the start of March is just days away. Are you a betting man/lady? (Must be if invested in Kefi). If so, do you study form? Bearing that in mind, does that suggest we'll get news early in March (8/1), middle of March (3/1), late March (6/4) or not March at all (10/11)? As for some strange reason I appear to be financially embarrassed, maximum stake 5p :-(

[robjm66] 28/2/2020 13:14

Jaylett would assume only legally binding if ANS provide the funds. Even if ANS are legally earmarked to provide the funds doubt there is a clause saying where they have to get the money from.

[robjm66] 28/2/2020 13:09

[...]

“KEFI said it had approved a new infrastructure debt-finance proposal relating to its Tulu Kapi gold project in Ethiopia, which seems to have been in development for longer than a prog-rock band’s next concept album.”

[jaylett] 28/2/2020 13:09

"Maybe Kefi should give a ANS a cut off date and go with any funds they are able to provide on that date any possible shortfall covered by the Ethiopian government."

You can't just introduce a clause like this after an agreement is legally binding. There either is a defined schedule and get-out clause, or there isn't. Based on what's happened so far, I strongly suspect there is not. KEFI have no control over this process and have locked us in with a shower of chancers and spivs.

Maybe they've actually got the money, or maybe they haven't. Who knows. Reputation-wise, messing this up and eventually backing out might hurt them in Ethiopia, but then again if you have the funds to grease the right palms then you can always get yourself involved in the next deal. Up to now, none of this has cost them a cent, and the only people to benefit from any kind of stated protections or guarantees are ANS. The company and shareholders has worn every bit of risk, endured the subsequent dilutions, met every request and demand, and we're still no closer to our friends and partners actually coughing up hard cash.

[matthew stone] 28/2/2020 13:04

I too think funding will arrive in 5mins, 5 days, 5 weeks or 5 months but it is disingenuous to treat these timescales as equivalent; The effect on us shareholders is not the same: 5 more weeks would almost certainly entail a small fund raise to keep the lights on - say £500k (another 50m shares @ c1p?) Five months (God forbid!) on the other hand, would probably require another £2.5m, but at what price? Well below 1p, I would guess, so dilution could be significant. We will also need more money for Saudi at some point!

[robjm66] 28/2/2020 12:54

Maybe Kefi should give a ANS a cut off date and go with any funds they are able to provide on that date any possible shortfall covered by the Ethiopian government.

Might of not been an option before but is now.
hxxps://www.ecofinagency.com/public-management/1312-40758-imf-joins-world-bank-to-support-economic-reforms-in-ethiopia-with-over-5-billion Some of that money is earmarked for mining anyway.

We do not know why ANS are taking so long to cough up but their are different tweaks depending on what the situation actually is.
1.Government can loan ANS any shortfall money to be paid back with a fee or interest when TK starts producing.
2.Or Government has a share of the revenue ANS would have had relative to the money put in.
3.Government just replaces ANS investment if they are not able to provide the money by cut off date.

Of course would be more than happy that any present delay is down to a bit of bureaucracy more than anything else but the longer this drags on the more damaging it is to the Ethiopian reputation as a country to invest in.

Politically would be good for the government as they could demonstrate their commitment to improving the Ethiopian economy.

Would have the added advantages of reinforcing confidence in the project and maybe flushing out what the situation is with ANS.
P.s sorry Topical you were right a lot of the time maybe most of the time with your posts.

[mab] 28/2/2020 12:49

A few funds have dipped there toes over the years, and got burnt. Share register chock full of private investors by the looks of things.

from Dec 2019:
hxxps://www.kefi-minerals.com/investors/capital-structure

[mark of the rushes] 28/2/2020 12:29

Thanks goatherd, I was looking for something like that yesterday. I got into Centamin at about the stage kefi is at now, I remember them sourcing infrastructure from an abandoned mine in South America and shipping it to Egypt before reinstating it at Sukari. It's been a great investment and I'm hoping now's about the time to jump aboard here.

What were the circumstances of HAA leaving Rio(now atym)?

[goatherd] 28/2/2020 11:37

There is a classic graph (the "Lassonde Curve") that shows the pattern of share price to development for miners, all the way from early exploration to mine depletion. It includes the typical time for each stage.

A good example is at


In my view it is well worth a bit of study from KEFI investors.

[matthew stone] 28/2/2020 11:37

Bought several lots - 1.09p & 1.14p. Tried for lower, but couldn't get any.

As I've stated before, my investment horizon is probably longer than a lot on here; mainly held in my SIPP, and I've got 8 years before I can touch that! Would really like low double figure share price at some point in that timescale, and I still think that is eminently possible given the assets, but communication is shocking - HAA MUST have realised how another vague timescale would be received today...