Kefi Gold And Copper Share Discussion Threads

[whatnow1] 04/3/2020 15:45

MM's must be laughing their socks off as they collect more cheap shares.

[neilng] 04/3/2020 15:19

TaxYou toffs are always getting the upper hand with your 4p average and superior smugness.We underlings (is that a word?)have to collect all the leftovers and a 4.513 average.Now leave me to contemplate my next move, onwards and upwards is my motto.

[matthew stone] 04/3/2020 15:11

It's ironic that this article is exactly the kind of thing most of us would want to see - proof that ANS actually exist and are fully in support of the project. So typical of Kefi, though, that even this has thrown up more doubts.

Not sure this can wait for the webinar, actually - a clarifying RNS is needed now, I feel, as if true it is a material change, surely?

[taxlosstone] 04/3/2020 15:06

neilng I think that it was TTT who was self isolating. I'm the one that was self pleasuring.

As for gloating, what's the old saying, in the land of the blind the one eyed trouser snake is king? It's something like that anyway. ;-)

[neilng] 04/3/2020 14:55

TaxYou should know the answer since you have been self isolating (and gloating at my expense for some considerable time)No.The answer is in the path!!!!! Of my comment (sorry I meant question).I just like to know before I filter.Remember you are already filtered but for some reason keep reappearing on my phone with a gloating smile.

[divmad] 04/3/2020 14:45

Surely the NOMAD should be asking these same very direct questions and if the answers are at odds with what Kefi has said in its latest RNS, then Kefi must issue an updated statement.

[divmad] 04/3/2020 14:42

Neil, I did own 2mn shares until a week after the ANS didn't come through with the initial cash funds. I smelt a rat. That smell is getting stronger by the day.

[pjackson2] 04/3/2020 14:27

Building of mine now to start in October. ANS to raise money in september.

I think the answer is in there.

[matthew stone] 04/3/2020 14:06

I think we need to wait for the webinar - my feeling is that ANS are talking about raising the balance of the monies after the first payment we are all waiting on. That in itself is not ideal, and certainly not what anyone has been led to believe thus far. The article is far too ambiguous, though, to be certain, so as usual we are left to try to work out what's really going on.

Can't argue, though, that if it does transpire that ANS do not have any of the money at the moment, HAA must go, no question.

[chopper harris1] 04/3/2020 13:49

Well said, taxlosstone.

If it transpires that ANS do not currently have the funds to make their first obligated payment, then we have been seriously and consistently misled up to this point.

If this is the case then HAA’s position should be untenable. No question. How could any shareholder, in their right mind, justify this man continuing to earn £30k a month, which is ultimately coming out of our pockets, for presiding over this bloody shambles.

[taxlosstone] 04/3/2020 13:25

neilng Is that question for me? If so, then the answer unfortunately is yes. Because of all of the bullish words from the Company & incessant opportunities to "average down" I have now invested more money into Kefi than I ever have invested in a share before.

I suspect that your question suggests that I'm doing harm to the share price by asking the questions. If that's the case, I don't think bulletin boards affect the shares one iota. Also if I've been misled & as an owner of this Company, I think that I have the right to ask.

[laurence llewelyn binliner] 04/3/2020 13:20

- The subsequent transfer of the first funds from ANS Mining to TKGM is expected to occur following the Meeting 14.02.2020 -

It would be farcical if it transpires that ANS now in turn have to line up borrowing and have not used the last year or so to get all their DD done as well as get their funding in position ready to go after the meeting..

[neilng] 04/3/2020 13:14

Do you own any shares in Kefi?

[taxlosstone] 04/3/2020 13:04

Here's a copy of my email that I've sent to BRR. I may well send some more questions.

Hello.

I would like the following questions answered. Please don’t lump the questions into one general answer. I’d like all of the individual questions asked & answered.

Is the Company surprised by the lack of money from ANS?

Is the Company disappointed by the lack of money from ANS?

Does the Company understand the frustration felt by many shareholders at the lack of money from ANS?

What are the specific hurdles still to be jumped before we receive the initial tranche from ANS?

Can we expect all of these time consuming procedures before every tranche is due from ANS?

What is the timetable for the payment of further tranches from ANS?

Having had a choice & in an apparently improving lending environment, we have decided against a bond. Will we have more control, will there be a strict timetable & will there be built-in penalties for delays in payment of the capex funding?

Thank you.

[taxlosstone] 04/3/2020 12:35

jaylett. Luckily we have a webinar just 2 days away when all questions will be answered clearly, concisely, honestly & in a straight-forward manner.

I'm so confident of this that I've just looked up what % of shareholders are needed to call a General Meeting. :-(

[mab] 04/3/2020 12:34

The newpaper article sais ANS are looking to raise $30 million through the sale of shares. Total ANS commitment is around $39 million ish so maybe they have the $9m to kick things off and the rest is to be raised.

But I thought ANS $39m and eth gov $20m commitment was to happen BEFORE major works in Oct 20.

Maybe the addis newspaper picked it up wrong. hopefully get some more clarification on friday from the governer Harry!

[robjm66] 04/3/2020 12:31

Not a bad article just have to remember its to sell the whole private public partnership concept to the Ethiopians and demonstrate that the region where the mine will be will not lose out.

[robjm66] 04/3/2020 12:27

"All consequential subscription and shareholder documents are in the process of review by Government departments and ANS syndicate members for execution by the TKGM partners during March."Execution in march.

If the circumstances had changed that so now looking at September Kefi would have to RNS it.

[shortarm] 04/3/2020 12:22

Dude, can you read?As soon as the ask drops below 1.2 we're all in! :-)

[robjm66] 04/3/2020 12:14

Yes the uncertainty over what is going on is hurting Kefi. Keeps talking about finance closing but investors just want to see the initial monies from all funders to go in now.

"ANS Mining was funded by Hailemelekot Teklegeorgis, former state minister for Finance & Economic Cooperation, Wondwossen Zeleke, a long-standing natural resources senior executive, Zafu Eyessuswork Zafu, former president of the national chamber and one of the founders of United Bank and United Insurance, and Alemshet Degife (Maj. Gen.), former head of the Ethiopian Air Force, among others."

What's the betting all the funders make a big wedge out of this with warrants and shares. Reassuring in a way as they are going to want things to go ahead. With the money would be good to know if it going to working capital for ANS or for future expansion projects connected to ANS getting a improved deal over the exploration areas.

“An area of over 1,000 square kilometres adjacent to Tulu Kapi has been reserved for exploration by KEFI upon commencement of development,” ANS should want commencement of development soon as it automatically adds the area and increases the attractiveness of investing into ANS.

[dr know] 04/3/2020 12:12

Hmmm interesting. I think on Friday Harry will have to explain in detail what the financial situation of ANS Mining is. Do they have the some or all of the cash right now ? Why are they issuing shares ? Why the delay in forking out the $9m ?

[tim_the_trout2] 04/3/2020 12:11

Why use the word "assembled", isn't that of people?
What's wrong with "in receipt of"?


TTT

[outlawinvestor] 04/3/2020 11:58

@Dr Know - if that's the case then the 28-Jun RNS is at best misleading. Or maybe I missed a correction RNS.



It has also now advised KEFI that it has assembled the full US$38 million (Ethiopian Birr equivalent) for its beneficial interest of 33% of Project company, Tulu Kapi Gold Mines Share Company ("TKGM").

[edit]
1 billion Birr is c. US$30m - the only logic I can find is that ANS already have money for their first tranche and are spreading the risk for their subsequent commitments???