Kefi Gold And Copper Share Discussion Threads

[dr know] 04/3/2020 11:51

This is how I understand it. ANS is a newly created vehicle to allow Ethiopian financial companies to have a 33% stake in the Tulu Kapi gold mine. It looks like the mechanism to provide ANS with the finance to buy their stake is for it to issue shares which the financial institutions would buy. I don't think there's anything negative about that.

[Edit] I suppose one negative is that it means ANS does not yet have the cash to invest the $9m required to kick start the project.

[divmad] 04/3/2020 11:36

Please show me in the article where a condition of ANS raising capital in September is that they must contribute their $9.5mn cash injection first to TK.

[divmad] 04/3/2020 11:30

Disquieting news for bulls of Kefi expecting a near term cash funding of TK by ANS, if my read is right. So Harry has been legged over again?

[tim_the_trout2] 04/3/2020 11:24

Many thanks yfc

"To raise capital, the executives of ANS Mining are planning to start selling shares, according to Hailemelekot Teklegeorgis, a founding member of ANS Mining, which hopes to sell one billion Birr worth of shares with a par value of one million Birr starting this coming September."

1 billion Birr is around £25 million.

If this is Tulu Kapi funding then we have a long wait.

TTT

[masterboffin] 04/3/2020 11:24

I agree with your observation digger . In order to sell the shares in September ANS must have to pay up the initial $9.5 million unconditional subscription which is now due . Posters in the LSE board are being quite negative but I think the article is good news .

[paleje] 04/3/2020 11:21

Edison have been dragged out again lend support to this flagging farce.



Valuation: 3.54p rising to 5.71p; potentially 7.57p

[digger2779] 04/3/2020 11:18

So they plan to sell 1 billion shares in September. Presumably this means the initial cash injection is forthcoming and then they can start flipping.

[outlawinvestor] 04/3/2020 11:09

you for coffee - thanks for that link, useful to read something recent from the guys behind ANS.

I was under the impression (from old announcements) that ANS was already funded for its commitments. Now wondering if that's not the case, or whether early investors are seeking to spread their risk?

[you for coffee] 04/3/2020 10:43

from lse board

[taxlosstone] 04/3/2020 10:40

Roll up, roll up!! You pays your money & takes yer choice. Next RNS odds (just for fun):

Short term funding with licensed bandit ...... Evens
Revised terms for warrants ................... 5/2
Webinar cancelled over Coronavirus fears ..... 4/1
Any other reason (share price negative)....... 5/1
Any other reason (share price neutral) ....... 6/1
ANS pays first tranche ....................... 8/1
Any other reason (share price positive)....... 10/1
Harry admits to being incompetent & resigns .. 33/1

[topicel] 04/3/2020 08:28

LOL TTT !!!

Keep smiling mon ami!

Topicel

[divmad] 04/3/2020 00:02

You mean this man is now a serial failure? Heavens to murgatroyd. Whatever next?

[marnewton] 03/3/2020 18:01

Changing the subject slightly...

GOLD seems to be recovering Friday's losses, when it fell to the rising (so support) 50 day SMA, before starting its recovery. The fall has been attributed to margin calls elsewhere.

For interest, here is an interview with the widely respected Jim Rogers:



Gold gets a mention at around 14 minutes in; followed by talk of cryptos, he's not a fan of the latter.

M

[digger2779] 03/3/2020 16:15

Just looked in and saw the word "shovels" and mistakenly thought we'd kicked off the mine. Silly me.

[robjm66] 03/3/2020 15:11

hxxps://www.bl.uk/learning/timeline/item107597.html rent so might be out of luck with the nuclear bunker as we are not even allowed pets.

[scrappycat] 03/3/2020 14:57

chopper,

'he should have and should have had a more complete picture of what is going on between EG and ANS.'

And how do you propose he should have done this? Get listening devices covertly fitted in all the relevant offices of the EG and ANS? They can, and will surely have had, conversations between the two of them at which he was not a party.

'He chose to do business and to get into bed with these people so he therefore accepts the consequences and responsibility to us of getting involved with them.'

Who says he doesn't? We are where we are, and he is subject to the same whims of the EG and ANS as we are. It is so easy to be wise after the event. To all who are gnashing their teeth, I humbly suggest you all lie back and relax. We cannot effect the issue. I seem to remember a grim saying, that if you are about to be, or are being, raped, it is more sensible to lie back and try to enjoy it, rather than to fight it. However, I am certainly not offering any advice on that latter issue, for I have no personal knowledge of it!!!!

[tim_the_trout2] 03/3/2020 14:28

pick me up, pick me up
fell off my chair laughing red rook
timing is everything

i've found a spade and going outside to dig
will probably just lay down quietly in it when I finish
this is probably my last post


TTT

[cybaajak] 03/3/2020 14:28

That was 2018 Jay. Since then Adams has garnished over 800k GB Pounds in wages, awarded himself upwards of 13m warrants, diluted EVERYONES holdings by 40% (conservative) from August 2018 (regardless of consolidation and outright misdirection since) and still maintains his leadership is a success.Air stealing mouthpiece needs to go. Like his disgrace from Atalya. Removed because the investors could no longer support his decisions or management style. BoD loved him says it all.

[red rook] 03/3/2020 14:21

Urgent message to all members of the Harry fan club ... Urgent message to all members of the Harry fan club ...

... if you do not have an air raid shelter ... then get a shovel and start digging one in the back yard.
... and remember to make an extra place for good old Harry !

[red rook] 03/3/2020 14:13

... if you're an old timer ... better ready the old air raid shelters in the back yard ... and put on the old tin hat :-)
... it'll provide you better protection than 'duck and cover'!

[robjm66] 03/3/2020 14:13

Hope no one is suggesting the government is not taking things seriously we already have the choice of singing happy birthday or the national anthem while washing our hands just need to know if we can hum the lines we do not remember.

[red rook] 03/3/2020 14:05

TTT,
... you need to 'duck and cover' ... 'duck and cover' .... like bert the tutle :-))



... government advise for another expected holocust but might still be applicable!
... also applicable for KEFI LT shareholders :-)

[tim_the_trout2] 03/3/2020 13:54

The Govt admit that will be a significant expansion in the number of coronavirus cases with 20% of the workforce off sick.

Are you part of the 1% of the reasonable worst case scenario, I am.
If you are then today's announcement means your an unfortunate statistic who will probably die.

As a nation what are we going to do?
Wash our bloody hands !!!!!

What's the Govt. plans?
Bring back old doctors & nurses
Backfill with the police and deploy the army.

WE ARE AN ISLAND, WHY ARN'T OUR BORDERS CLOSED?


TTT