Kefi Gold And Copper Share Discussion Threads

[robjm66] 04/3/2020 22:29

Thanks Spartikas.

[molatovkid] 04/3/2020 22:24

Ok....so we're down to a pure case of 'show me the money' then.

Show !
Me !!
Da !!!
Money !!!!

[spartikas] 04/3/2020 22:15

Q: I have come across a news article from the Addis Fortune News website which details ANS's involvement in the Tulu Kapi project.

The article is fairly positive but the journalist has provided the below comment, which suggests that ANS don't have the capital to hand for the project and need to sell shares within their vehicle to be able to make payment:

"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."

Are you able to confirm whether this share sale from ANS is a secondary issue once they have injected their capital into the project or whether this is a primary issue? As mentioned within this article, they are intending to sell shares until September which would make the receipt of funds to TK be delayed if they are selling as a primary issue.

A: Not an accurate comment and a bit garbled We have been advised that ANS’ subscription is arranged. Arrangements are proceeding for the closing of the first subscription funds from ANS to TKGM of US$9.5 million (Ethiopian Birr equivalent) in accordance with standard local procedures. As announced, the total ANS commitment is US$38 million with the first US$9.5 million (Ethiopian Birr equivalent) being unconditional and subsequent amounts in accordance with the conditions previously outlined.

Posted 05 March 2020

[molatovkid] 04/3/2020 21:19

The answer to this whole thing could be as simple as it's Africa and it's mining.

[shortarm] 04/3/2020 20:54

I do, me and plenty of others it seems.

[chopper harris1] 04/3/2020 20:36

Any rose-tinteds that are basing their hopes on an RNS from this company which is over eight months old should really take a ‘reality pill’.

Look, I’m not trying to talk the share price down. Why should I when it’s just dragging my investment lower? But I will also not keep schtum when I suspect that something could be very wrong here and that we, as shareholders, are being fed a diet of fudge and bluster by a CEO who appears to be rapidly running out of excuses.

Enough is enough now. Time for Harry to start telling us exactly how it is. Starting on Friday.

[molatovkid] 04/3/2020 20:34

KEFI, a partner in the project, MUST know about this Sept.share sale plan by ANS.

If the expected 9m was coming from that in Sept....why do KEFI keep saying its due sooner when they clearly would know it isnt coming? Doesn't make sense.

So if the 9m is truly due soon, then surely ANS have had to provide proof of cash funds to get this far?

[peverill] 04/3/2020 19:41

They better get something in place soon funding wise or it will be goodbye Ethiopia.

[aim0raider] 04/3/2020 18:28

The question to ask Harry is, have you proof of funds? What proof?

[jaylett] 04/3/2020 18:22

The RNS from June? It's now March the following year and they still haven't paid. Does that not strike you as remotely concerning?

Well done you for buying more shares, but let's not pretend everything is cut and dried here. ANS *said* they had the money. That's all. Until they pay us there is reasonable doubt, which only increases the longer this drags on.

[skynet2000] 04/3/2020 18:10

In summary is Kefi a bad buy? , does anyone see this getting back to the 1.85 mark?

[unionhall] 04/3/2020 16:38

And you believe RNS from this company ?

[shortarm] 04/3/2020 16:33

Well, at least you girls have managed to talk some people out of their shares at last so I could nick a few more!Now - if they read the RNS from June they'll see ANS already had the money and if that changed another RNS would be required!Thanks :-)

[mab] 04/3/2020 16:33

If the agreement was for ANS to put up $9 mill initially then $30 mill prior to major works then nothing has changed.

Didnt harry say the initial $9mill had already been sourced and was sitting in an addis abiba sock drawer...9 months ago?

[red rook] 04/3/2020 16:24

... BUT that is not what was being peddled by Harry !
... so it would appear that all those 'procedural' delays by the ANS, that was cited by Harry, appear to be that they do NOT have their part of the money in place :-)
... I think I suggested that quite a few posts ago !

[mab] 04/3/2020 16:22

Thinking about it how else was ANS going to raise $30million? Friends and family...crowdsource?

Looks like there just setting themselves up as a private equity company selling an interest in tulu kapi to institutions via a share issuance.

[red rook] 04/3/2020 16:17

... not just the 'near-term' funding !
... not just the further 'conditional' ANS tranches ... that they appear not to have the money for !

... Harry must provide more concrete answers as to where the bulk of the project finnance is coming from now ... to say its from bank finance from two unidentified African banks is NOT enough !

[chopper harris1] 04/3/2020 16:07

Why a tree shake? It’s looking to me like a perfectly reasonable reaction to the cloud of uncertainty which is now surrounding the near-term funding of this “project”;.

HAA has some explaining to do tomorrow.

[whatnow1] 04/3/2020 16:03

Just over a day from the webinar and HAA has 25m odd shares and mm's shake and people handing their shares over in droves?

[peverill] 04/3/2020 15:51

What are this shower playing at???

[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.